Exhibitors Herald World (Jan-Mar 1929)

January 5, 1929 EXHIBITORS HERALD-WORLD 27 Prosperity Sure to Continue Into New Year, Declares Klein High Record Set in Domestic Trade, Foreign Is Exceptional Daylight Time Gets A Bad Trimming at This Public Hearing (Special to the Herald-World) KANSAS CITY, Jan. 2.— Only one out of twenty-one men and women representatives of various organizations who attended the Chamber of Commerce hearing on daylight saving, approved the practice. He was a railroad representative. As a result there will be no daylight saving in force in Kansas City next summer, or in a good many years, in all probability. A. H. Cole, representing the exchanges of Kansas City, and C. H. Burkey, representing suburban theatre owners, insisted that one hour, for both open-air and housed motion picture shows, would cause a financial loss that would prove ruinous to the exhibitors. "I haven't heard a man or woman in the postal service say a single word in favor of daylight saving," Mrs. M. S. Garland, of the post office clerks' auxiliary said. The Kansas City Teachers' Club and all union labor organizations voted an emphatic "No," on the proposed plan. Fox Buys Into 3 More Wisconsin Towns; Plans Two Others Elsewhere (Special to the Herald-World) MILWAUKEE, Jan. 2.— Further expansion of Fox-Midwesco is seen in the recent consummation of deals for three Wisconsin situations, Antigo, Stevens Point and Marinette. The Palace, at Antigo, formerly operated by Harvey Hanson, was leased, followed quickly by the acquisition of the New Antigo, an Associated Theatre Company house. Movietone and Vitaphone installations have been started at the Palace. In Stevens Point, Midwesco has acquired J. P. Adler's Majestic and Lyric theatres. At Marinette, the Marinette has been taken over. Through a radio tie-up with the Wisconsin News station here, programs will be broadcast from the Strand and Wisconsin theatres, as well as the Wisconsin Roof Gardens. State officials have approved plans for two new Fox-Midwesco houses, a 2,000seat theatre at Appleton, and a 2,500-seat house at Green Bay. 1,200 Green Lights Used In 3 Theatres' Christmas (Special to the Herald-World) PORTLAND, ORE., Jan. 2. — Twelve hunred red and green lights, a mile of cedar boughs, a half mile of tinsel, six tail Christmas trees and barrels of tree ornaments, were among the holiday decorations used by the Consolidated Portland Theatres, Inc., in their three theatres: The United Artists, Rivoli and Peoples, including the decorations for a Monster Midnight Matinee at the Rivoli. The fifth annual Christmas matinee was given by the Oregon council, National Motion Picture League, at the Rivoli Theatre, where children in all institutions were guests. The two photoplays given for their benefit were, "Alice in Wonderland," and "Robinson Crusoe." Wages Continue at High Level and Unemployment at Minimum, Says Bureau of Commerce Director The year 1929 opens with every prospect of a maintenance of the general prosperity of recent months which brought a new high record in domestic business and an exceptional volume of foreign trade, says Dr. Julius Klein, director of the Bureau of Foreign and Domestic Commerce of the Department of Commerce, in a statement at Washington, January 2. Farm products increased 5 per cent in output during 1928 while an even greater increase was registered in industrial production. Mer«handise exports were the highest since 1920, passing the five billion dollar mark. Automotive and construction advanced, the former to its highest figure, the latter above its 1927 total. Rates for call money and for stock-exchange time loans rose sharply, but bank credit for commercial purposes continued in ample supply at only slightly higher rates, and open market rates for commercial paper have shown a somewhat higher advance, Klein reported. Wage at High Level There was little change in volume of wholesale distribution or in the general level of wholesale prices. Business efficiency increased. "Wages continue at a high level," Klein announced, "and the unemployment which was noted in the early part of 1928 has been reduced to a minimum. Factory employment was increased for the first time in a number of years." "Construction operations which declined slightly in 1927 showed another large expansion during the year just finished," Klein declared. "Contracts for new construction increased in value by almost 7 per cent, as larger awards for residences, industrial buildings, public works and utilities, and educational buildings more than offset the decrease in other types of construction. These expanding operations resulted in a larger output of structural steel, brick, cement, and many other building materials. Lumber cut, on the other hand, decreased for the third successive year." "Agricultural output has shown almost as great an increase as manufacturing during the past year," he stated. "The total land used for all crops harvested was larger by about 8.000.000 acres than in 1927 and the aggregate production increased approximately 5 per cent. The average of farm prices showed little change: prices of meat animals, dairy products, and poultry products advanced, while quotations for grains, and fruits and vegetables receded. Steady expansion in exports of other nations were cited by Klein as pointing to worldwide improvement in business conditions in recent years. A five per cent increase in value of exports of 10 European nations in the first nine months of 1928 was recorded over the same period in 1927. Outside of Europe the aggregate was about . the same as in 1927. Merchandise Exports Increase The total value of our merchandise exports increased about 3 per cent in 1928 while average price was unchanged.^ Exports of finished manufactures were 70 per cent higher than in 1922. Total imports of the United States were $4,100,000,000, or 2 per cent less than in 1927. "In summarizing conditions at the end of 1928," Klein concluded, "we may state that domestic production and trade are in record volume and that our foreign commerce continues to show «teady growth as a result of an increasing foreign demand for American manufactures. The maintenance of our imports at about the same level as in the two preceding years indicates the large purchasing power and general prosperity of the United States." Paramount Purchases 60,000 More B & K Shares; Holdings Now Over 87 Per Cent (Special to the Herald-World) NEW YORK, Jan. 2. — Paramount has purchased privately approximately 60,000 additional voting trust certiBcates of Balaban & Katz Corporation, issuing 1.6 shares of Paramount Famous Lasky Corporation new stock for each share of Balaban & Katz. This additional purchase gives Paramount approximately 87 and one half per cent of the issued and outstanding voting trust certiBcates of Balaban & Katz, as compared with 65 per cent heretofore held. It was also announced that s. inngements had been made by Paramount to purchase approximately $2,0rO.00C worth of outstanding certiBcates of indebtedness of Guaranty Trust Company, which come due in October. 1929. These certiBcates were issued under -*e original purchase of Balaban & Katz stock by Paramount two years ago and were purchased on a basis of one share of Paramount stock for each $53.25 par ' <*Jue of certiBcates of indebtedness. The purchasing of these certiBcates on this basis relieves Paramount of making this cash payment in October, 1929, and changes this quick liability, with a 7 per cent interest r?te. into common stock at $53.25 per share.