By Matt Sepic, KWMU

St. Louis, MO. – Musicians with the St. Louis Symphony Orchestra rejected the orchestra's latest contract offer Monday.

Orchestra members say they're not going on strike, but rather, the management is locking them out.

Despite an endowment that's close to $100 million, symphony executives say they cannot give musicians the raises they want.

Symphony President Randy Adams says that is because the endowment money cannot be touched; just the interest.

"The latest data I saw shows our musicians are sixteenth in the country in pay," Adams said. "There's no question in my mind that our musicians deserve more pay, but at this point in time, we can only make what we think is a fair offer, given the financial situation that we're still in."

Orchestra members now make just under $74,000 per year in base pay. The latest offer would have put them under $73,000 by 2008.

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