The liveliest show in Maryland politics lived up to its billing yesterday, with the long-running feud between Gov. Parris N. Glendening and Comptroller William Donald Schaefer reaching new heights and heading for an explosive finale.

At their second-to-last encounter on the state Board of Public Works, Schaefer unleashed a torrent of vitriol at the outgoing governor, accusing Glendening of leaving Maryland broke, misusing campaign funds and ruling the state like a despot.

And that was before lunch.

The twice-monthly board meetings have long served as venues for Schaefer to attack his successor as governor, with Glendening barely responding.

But seasoned observers agreed that yesterday's session set a new standard, leaving many speculating about what's in store for Jan. 8 - Glendening's final board meeting before Republican Robert L. Ehrlich Jr. is sworn in as governor. That date also happens to be the opening day of the 2003 General Assembly session.

"I think that's how we ought to solve our budget deficit, by selling tickets," quipped John Kane, the new state Republican Party chairman, who attended his first meeting yesterday. "Schaefer was just unrelenting."

As always, yesterday's meeting convened in the majestic reception room adjacent to the governor's State House office. More than 200 observers crowded inside, many awaiting discussion of a contentious land preservation deal.

But Schaefer opened with a monologue on the merits of Glendening's proposal to give a 2 percent pay raise to state employees.

"You spend money that's not there," Schaefer said. "You leave the onus on [Ehrlich], no matter what happens. He called you a 'class act.' I called his office and said, 'What do you mean by that?' They said, 'We didn't say what class he was in.'"

Schaefer accused Glendening of backing a $15.4 million state land purchase to cement his reputation when the state can't afford it. Schaefer later voted for the deal.

"You'll run around the country, saying what a great environmentalist you are," he said. "You'll never mention that you are the most fiscally irresponsible governor I've ever known."

As discussion of the purchase continued, Schaefer abruptly detoured to repeat his demand that Glendening repay a campaign donation Schaefer gave to a shared Democratic account that helped the governor's 1998 re-election.

Schaefer believes Glendening in effect used the money to try to unseat him. Glendening spent surplus campaign funds for radio commercials supporting Secretary of State John T. Willis in the comptroller's primary earlier this year.

"Where's my $25,000?" Schaefer demanded before an audience that included heads of foundations and Republican Rep. Wayne T. Gilchrest.

Glendening tried to move the meeting along.

"Where's my $25,000?" Schaefer repeated, moving to within inches of his rival's face. "Where's my $25,000? Where's my $25,000. Where's my $25,000? Are you going to give me my money?"

Finally, Glendening broke his silence. He leaned toward Schaefer, whispering: "Mr. Comptroller, you should have a little dignity."

With television cameras rolling, Schaefer responded, "Why don't you try having a little dignity during your eight years in office?"

A few minutes later, Schaefer accused Glendening of instituting Smart Growth land-use policies like a "dictator." To Department of Natural Resources Secretary J. Charles Fox, he said, "You've been well-trained by the lynch mob on how to answer my questions."

Later, Schaefer denied that he was more aggressive than usual. But he said he was looking forward to his final encounter with Glendening next month.

"I have one more shot for that son-of-a ... ," he said, his voice trailing off.

Glendening said he wouldn't miss the last meeting. "It's fun," he said. No one should charge admission, he said, "unless I get a percentage."

While some predict that Schaefer will treat Ehrlich more kindly on the three-member board, Glendening said he doesn't think so.

"He's the comptroller, and he is going to be making similar comments for the rest of his life," the governor said. "As he said, he suffers from irritable bowel syndrome."