Boxoffice (Apr-Jun 1937)

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"No Adequate Precedents" in Considering Industry DOW-JONES REPORTS BIG LOEW PROFIT New York — Earnings of Loew’s, Inc., in its 16-week period ended about March 13, were the largest for any 16 weeks in the history of the company with the exception of one period in 1930, the Dow-Jones financial service said this week. While figures are not yet complete it is estimated that net profit will equal about $3 a share on the 1,512,985 shares of common outstanding, according to Dow-Jones. “Adding this to the net income of $2.14 a share earned in the 12 weeks ended November 19, last, indicates a net income of over $5 a share for Loew’s first half,” the service estimated. “This would compare with a net of $5,033,038 or $3.05 a share earned on 1,497,595 shares in the similar 1936 period. Loss FOR Universal New York — Operations of Universal Pictures Co., Inc., and subsidiary companies during the first quarter of its fiscal year, ended Jan. 30, 1937, including the earnings of foreign subsidiaries for the 13 weeks ended Nov. 28 or Dec. 26, 1936, resulted in a net loss after all charges and federal and foreign income taxes of $403,966. Eastman Kodak Gains New York — Eastman Kodak Co. reported for 1936 a consolidated net profit of $18,906,371, equal, after preferred dividends, to $8.23 a share on the common stock, compared with $15,913,251, or $6.90 a share, earned in 1935. COPYRIGHT BILL POSED BY SENATOR Washington — Senator Morris Sheppard, Texas Democrat, has introduced a new copyright measure in the upper house which would make it necessary for authors, composers and publishers to identify the use they make of material in the public domain and leave the question of damages to the direction of the court. Senator Sheppard told Boxoffice that “my bill contains a provision to pay to the copyright proprietor, in the case of infringement by radio broadcasting, such damages as the court shall prove to be just.” Where two or more stations are involved simultaneously, responsibility and liability will rest solely with the station originating the broadcast. Under terms of the new bill it will be necessary that “the application for registration, and the printed notices of copyright on the work shall specify under which version or versions of works copyright is claimed.” Numerous requests by independent motion picture and radio operators in his state are responsible for the introduction of the measure, according to Senator Sheppard. EDUCATIONAL PROFIT New York — Educational Pictures and subsidiaries report a net income for 28 weeks ended December 26, last, of $97,592.00. Hays Heads MPPDA for 16th Year New York — Will H. Hays this week began his I6th consecutive year as president of the Motion Picture Producers and Distributors of America, Inc., his reelection having taken place at the association’s annual meeting here last Friday. Three neiv directors were added to the board. These include E. B. Hatrick, vice-president. Cosmopolitan Corp., which was admitted to membership in the MPPDA; Barney Balaban, president of Paramount, replacing Adolph Zukor, chairman of the board, who is devoting his time to studio activities on the coast, and Leo Spitz, chairman of the board of RKO Radio, who succeeds M. H. Aylesworth who receritly resigned as RKO chairman to join Scripps-Howard. Await Clarification Philly Dual Case New York — Clarification of the memorandum of the U. S. circuit court of appeals in the Perelman action in Philadelphia involving the right of exhibitors to double feature is awaited here by attorneys for film companies. While the court’s memorandum of March 5 rescinding its order denying defendant distribution companies a rehearing declared that “the case is held for further consideration upon a reargument,” Louis Phillips, attorney for Paramount, told Boxoffice this week that under the normal procedure the court would hand down its decision without further reargument. However, indications are strong that there will be a second reargument. Can Ask High Court Review Should the defendants be denied a rehearing, the double billing situation as now in vogue would not be altered since there are practically no restraints on the practice, according to distributor spokesmen. However, in that event the distributors would have a further course of action in seeking a review of the case by the U. S. supreme court. Should a rehearing be granted and the distributors eventually upheld in their contractual restriction of double features, they would be able to impose such restraint throughout the country. In view of this eventuality, the Perelman case is considered a pivotal one as far as those companies are concerned which oppose double billing. New York — There are no adequate precedents in considering the trade practices inherent in the production, distribution and exhibition of motion pictures, believes Will H. Hays, president of the Motion Picture Producers and Distributors of America. “Pictures are at once an art, a science and a business,” Hays said in his annual report made public this week. “The producer creates, not manufactures, entertainment. The exhibitor does exactly what his function implies — he exhibits a picture, not sells a commodity. And it is from this system indigenous to this great new form of entertainment that the finest picture produced by the industry finds its way to the humblest theatre in the land, that a film which a first run metropolitan theatre may pay thousands of dollars to exhibit is made available to the smallest theatre for as little as five dollars per exhibition and by which entertainment, often road-showed for admission prices as high as two dollars, is finally made available for as little as 15 cents. “It is through this system that a successful motion picture may be given practically universal distribution, that producers are able to make investments of as much as $1,000,000 and sometimes $2,000,000 for a single production, that large theatres can operate profitably and that the thousands of small theatres everywhere make money by a service of entertainment that appeals to larger and larger audiences.” Florida Honeymoon Richmond, Va. — On the sands of the Hollywood Beach Hotel, Hollywood, Fla., are Max Matz, Bluefield, W. Va., theatre and hotel proprietor, and his bride, the former Miss Norman Marcus of Boston and Miami. They are spending the first part of their honeymoon at Hollywood. From there they will go to Havana and then to Louisville to take in the Kentucky derby. STEN SIGNS GN PACT Hollywood — Anna Sten, Russian actress formerly under contract to Samuel Goldwyn, has been signed by Grand National to star in “Gorgeous,” to be produced and directed by Dr. Eugen Frenke, her husband. Grand National recently bought “Two Who Dared,” an English-made film which also had Dr. Frenke as producer and director. MARTINI TO STUDIO MAY 20 New York — Nino Martini will report at the RKO studio in Hollywood May 20, following a 20-city concert tour which he began this week. His forthcoming picture work will be under Jesse Lasky, who brought him to U. S. from Italy in 1929. BOXOFFICE :: AprU 10, 1937. 29