I don't think Liszt hesitated at all to say it was impossible to transcribe the 4th mvmt of the 9th symphony. But hell, he tried anyways! An interesting bit from Alan Walker:
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It was in the chorale finale of the Ninth Symphony, however, that even Franz Liszt went down in defeat. His work ground to a halt at the very point where Schiller's verses address mankind in transfixing language: "Be embraced, ye millions! Far from embracing the millions, Liszt's attmpets to telescope both chorus and orchestra into two hands did not get beyond his cell in the Madonna del Rosario. One look at the score will tell us why. He wrote to Breitkopf, who had naturally expected to publish all nine symphonies complete, asking to be excused from the task of transcribing the finale: 'After various endeavors one way and another, I became inevitably and distinctly convinced of the impossibility of making any pianoforte arrangement of the fourth movement for two hands that could in any way be even approximately effective or satisfactory." He went on to ask Breitkopf to consider his work of transcription finished with the conclusion of the third movement of the Ninth. Breitkopf refused to be brushed aside, however, doubtless haunted by the specter of certain financial ruin if, instead of the nine "complete" symphonies, he were to publish eight and three-quarters of them. So Liszt reluctantly returned to the task...
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He then gives a fascinating comparison of the opening of the 4th movement: first in Kalkbrenner's arrangement, and then in Liszt's. One would think that transcription is just writing the notes from the orchestra into two staves, but there is the difference between night and day with these two examples. I wish I could post them. Well, if you want to see the Kaklbrenner, I am sure thalbergmad has it.
Incidentally, wasn't it Louis Lortie who played Liszt's transcription of the 9th in New York recently, with a chorus on hand to perform the final movement?
Walter Ramsey