The Toast of New York

Toast of New York was the Heaven's Gate and/or Cleopatra of its day, a film which almost sank its studio, RKO. RKO invested well over $1 million (a huge sum in 1937) into this film and it shows in every frame--incredible sets and costumes and the kind of polish you don't see anymore. The film was beset with pre-production problems, going through several announced stars (Spencer Tracy, Ginger Rogers, etc.) before settling on Farmer, Grant and Arnold. Writer Dudley Nichols was fired and re-hired as the production began shooting. The film, despite its pedigree, was greeted with decidedly mixed reviews and had lukewarm boxoffice response. Uneven in tone and historically inaccurate, it still is grand entertainment in the late 30s manner, with high drama and low comedy interspersed with about equal measure, and excellent performances by Farmer, Arnold and Oakie. Only Cary Grant seems somewhat ill at ease in a role quite different from his usual screen persona. The press materials on Toast are almost as lavish as the film itself, capitalizing on Farmer's recent success in "Come and Get It." The song Farmer sings, "The First Time I Saw You," was a chart hit for Bunny Berigan (who also charted with the theme from another Farmer film, "Ebb Tide") in 1937.

This makes for interesting viewing in the wake of Martin Scorsese's THE WOLF OF WALL STREET (2013), even if I only intend checking that one out in time for the Oscar ceremony next month! It is the biopic of 19th century American financier Jim Fisk – a larger-than-life Edward Arnold – who rose to prominence from nothing but ultimately grew too big for his boots.

The film has a nice period flavour, punctuated by the initial comedy sense of Fisk's petty swindles (done in cahoots with partners Cary Grant and Jack Oakie). Their fortunes turn during the Civil War, but Fisk's ambitions are set too high (taking on mild-mannered tycoon Donald Meek and Clarence Kolb as the famed Cornelius Vanderbilt) and his ruthless tactics certainly do not endear him to rivals and 'victims'. Eventually, Grant himself steps out to oppose him: though this has just as much to do with his personal feelings towards Fisk's girlfriend (played by the tragic Frances Farmer) – whom he at first frowns upon but then falls for (when pushed by Fisk himself to take care of her for him, while he is busy making more money for the two of them!).

The whole is typical Hollywood entertainment of the era, the heyday of the biopics (though Warners had cornered the market in this field, the film under review is an RKO production) – even if the subject matter proves necessarily heavy-going to the casual viewer. The sheer professionalism with which this is made also extends to the bit parts – which, surprisingly yet very amusingly, include two of the most likable foils in the classic comedies of Laurel & Hardy, namely Billy Gilbert as a flustered (what else?) photographer and James Finlayson (curiously unbilled) as one of the myriad inventors who turn up at Fisk's firm hoping to be financed.

If Jim Fisk were alive and operating today, he'd be on television and would run that well known introvert Donald Trump right off the tube with bad ratings. It's how that colorful fellow operated, never did anything in a small way.

Though the film has taken a great deal of liberty with the facts as has been pointed out by other reviewers, the essence of the man has been quite accurately captured by Edward Arnold. Also the characters of Uncle Dan'l Drew and Cornelius Vanderbilt are finely etched by Donald Meek and Clarence Kolb respectively.

It's quite true that Fisk got the start of his fortune by running contraband cotton out of the South, taking advantage of the fact that the one crop Confederacy couldn't export its crop because of the Union blockade. I'm sure that things were pretty hairy for Fisk as well as for his fictional partners Cary Grant and Jack Oakie.

Josie Mansfield as played by Frances Farmer was certainly not the first or last entertainer to take advantage of the attentions of a wealthy man. That was certainly demonstrated more accurately in Love Me or Leave Me by Doris Day as Ruth Etting. She was not as nice as Farmer and the script made her.

Frances Farmer in her memoirs said that while the film was not the type of material she was looking to do, she did enjoy working with Cary Grant who was to her as he appears on screen.

Though his efforts to control the gold market got him his most notoriety, they were not responsible for Fisk's demise. In fact the film's most glaring factual error was the omission of Fisk's partner in that enterprise, Jay Gould.

By the way Gould was in personal habits the exact opposite of Fisk. He was a rather sober, responsible family man who had no real vices of any kind other than greed.

The second big factual error was in that in the gold cornering scheme Fisk and Gould sought to gain influence in the Grant White House through hooking Ulysses Grant's brother-in-law, Abel R. Corbin in the move. That part did not work.

Nevertheless Edward Arnold in the title role gives a grand portrayal of a most colorful character from The Gilded Age.

While this fact-based picture is wildly inaccurate in it's depiction Jim Fisk's life and death, THE TOAST OF NEW YORK remains an entertaining portrait of the financial scene in New York during the late 1800s. Three writers are credited with a screenplay that does not skimp on moral and financial complexities (although the film's romantic triangle is handled rather routinely), and director Robert V. Lee manages to keep everything moving at a brisk pace while effectively juggling piercing melodrama with lovely moments of light comedy. Edward Arnold and Frances Farmer contribute terrific performances, and Cary Grant is also memorable playing second banana to Arnold's Fisk - although no one else in the cast makes much of an impression. This lavish, expensively budgeted film was a box office flop when originally released, but it holds up quite nicely all these decades latter and deserves to be rediscovered by a larger audience.

Hokey but enjoyable RKO biopic of Jim Fisk, 19th century financier and crook. As with most historical biopics, this is more fiction than fact (especially the end). Actually, I'll say this is even more loose with the truth than the average historical biopic from the time. The story tells how Fisk (Edward Arnold) rises to financial success on a series of crooked deals with his two cronies (Cary Grant, Jack Oakie). Eventually he has a falling out with one of them (Grant) over a girl (Frances Farmer).

Edward Arnold is always worth watching and this is no exception. Cary Grant fans will likely be disappointed at his supporting role, which is more suited to a Patric Knowles type. Still, there are moments where Cary shines above the material. Such as the scene with the bratty actress where he tells her she's ugly. Jack Oakie and Donald Meek are fun comic relief. Of note for having one of the better roles of Frances Farmer's career. She's very good here and, if you don't know about her, you might wonder why she didn't go on to bigger & better things. Well, you should look up her story. It's very interesting and tragic. Overall, it's an entertaining movie. Goes on a little longer than it needs to and the romance stuff is blah. But solid performances and healthy doses of humor help. Worth a look if you're a fan of old Hollywood biopics.