The re-opening of this theatre [Sadler's Wells] announces the commencement of a new dramatic season. On Saturday the performances began with 'The Man of the World,'—and this was followed on Monday by the tragedy of 'Henry IV.' It was not until Wednesday that any real business was attempted,—by the revival of Shakspeare's neglected comedy of 'All's Well that Ends Well.' The rude nature of its plot has banished this play, notwithstanding some fine poetry, from the modern stage. The manners represented are exceedingly gross; but the language has a style of euphuism which looks like refinement,—and indeed, there is much natural refinement in the persons of Helena and The Countess. The purity of these two characters sheds an influence over the entire drama, and breathes about it a poetic atmosphere. The success of the present representation must in a great measure be referred to the delicate and efficient manner in which these parts were impersonated by Miss Cooper and Mrs. Ternan. The whole drama had evidently been carefully rehearsed,—and a calm, quiet, and dignified tone prescribed to the different elocutionists. The parts were rather spoken than acted, and an air of polite reserve appeared to have been imposed on all the actors, save one. That one was the representative of Parolles:—to which part due prominence was given by Mr. Phelps. The part is properly what is technically called a character-part; and Parolles will be considered one of Mr. Phelps's best impersonations. The poltroon and the braggart came out in his acting in alternate relief. In the incident of the drum, the undertaking the recovery of which involves Parolles in the certainty of exposure, Mr. Phelps was eminently successful. The situation after his capture was perfectly realized; and the picture of the coward turned traitor was complete. The mental prostration of the culprit was made fearfully true. There are touches in this dramatic portrait which are eminently Shakspearian,—and these Mr. Phelps identified with power and taste.—The scenery and accessories illustrating this revival are, as usual at this house, picturesque and carefully grouped.—The theatre has been repaired and decorated; and the company has been improved by some additions,—so that throughout the piece was efficiently represented.