Variety (Jul 1935)

Wednesday, July 3, 1935 PICT E S VARIETY 23 METRO BUYS UP INDIE WN1T Hollywood, July 2. Metro has bought 5,000 feet of film negative Imported from Australia by Eugene Roth and Wallace Worsley. Picture waa called 'In tho "Wake of the Bounty.' Metro will utilize some of the footage in a two-reeler show- ing Pltcalrn Island of today and will release this as an exploitation buildup for ^Mutiny of the Bounty,' prior to release of the latter. More film la being purchased by Metro shot around Tahiti, Vhlch will be used as background process scenes for 'Bounty,' taking the place of negative secured by the com- pany's camera expedition to South Seas. Metro's idea at first was simply to keep the Anzac pic off the mar- ket It was produced four years ago by Expeditionary Films, Ltd., of Australia. TWO CAL. EXHIBS START %mm SUIT Hollywood, July 2. Charging conspiracy to violate Sherman anti-trust and Clayton Acts, Seymour J, Chotiner, attorney, filed action in Federal district court here today (Tuesday) on be- half of Sam Pouros and A. Simos, •who operate the Rex theatre, Bakersfleld, Cal. . Suit demands 1400,000 damages from Fox West Coast Theatres, Warner Brosj First National, United Ai-tists, Skouraa Bros., and co-partners. Action alleges takeover by Fox West Coast of three major film ser- vices after plaintiffs had held same for second runs over a period of years. Hughes-Disney (Continued from page 4) special train pulls out of New Tork tomorrow (Thursday) with 40 aboard at New York. At Chicago tho train will pick up 80 people and at Kansas City also 80. For the first time, all UA branch managers. Him salesmen and bookers are attending the convention. UA's pol- icy In the past has been to hold re- gional sales meets. 24 Ab Now Set Up The 24, pictures lined up to date Include six from Goldwyn, five from David O. Selznick, five from Alex- ander Korda (London Films), three from Reliance, two each from Charlie Chaplin and Mary Plckford and one which remains to be deliv- ered from 20th Century under Its expiring contract. Singleton from 20th is already conipleted. Trio from Reliance terminates Its present contract which was ar- ranged with Joe ' Schenck. Re- liance's future is unofflclally re- ported as following. 20th Century Into Fox. That Reliance is pro- ducing only three ns against expec- tations a few weeks ago that this group would put out 8-10 for 1035- 36, leads to the belief that Re- liance won't remain with UA when its present commitments are ful- filled. The Reliance heads, including Harry Goetz, Eddie Small and Ifer- bert Yates are all friendly to Schenck, who is .said to have been instrumental in the company's for- mation two years ago. By the time the UA convention is ready to open! it Is expected a general sales manager for UA will be set by Lichtman. It will be Harry Gold, eastern division sales manager, if the post la to be filled, it is said. This will leave the east- ern division post open. Before leav- ing for the Coast Lichtman would not commit himself on general sales manager plans e.vcept that he has been considering it. He stated, iiow- ever, that .no outsiders would be brought info UA to fill any vacan- cies. Joe Moskowltz, v.p. of UA, who has been In charge of 20th Century affairs for Schenck at UA, includ- ing all contracts for this producing company, is shifting over into Fox with Schenck. His post In UA will not be filled. No olhors arc known to be planning to follow Schenck into Fox, nor is Liclitman expected to make changes at UA. The or- ganization was virtually built up by him as it now stands. 11 COUNTRIES SET FOR VENICE PIC EXHIBIT Rome, June 21. Although there remains nearly two full months before the event takes 1 lace, -directors of the Third International Exhibition of Cine- matography, to be held in Venice, starting Aug. 10, have already re- ceived notice of inclusion from 11 nations, which will submit 40 films. France will be included in the show, but titles ou selections are as yet unannounced because of Gov- ernment's assuming the prerogative of naming those to come. Names of none of the Italian con- tributors are divulged either. N.W. Exhibs Peeved at Checking Demands Minneapolis, July 2. Exhibitors in the territory are re- sentful over checking demands made by RKO Radio In connection with 'Becky Sharp.* At a meeting here, they claimed the exchange is going beyond Its legal rights in re- fusing to play date the film for those who have contracts for the picture until these latter agree to sign a rider 'virtually compelling the theatre owner to turn his house over to the exchange during the fllrh's run.' The rider requires the exhibitor to permit the checking company, if it so desires, to put in its own door- man, cashier and tickets. It was pointed out that the contract itself calls for nothing, like this. Jules Verne Kid Pic On Russian Schedule Moscow, June 16. *Captain Grant's Children,' adven- ture classic for children by Jules Verne, Is to be filmed by two Soviet directors, Welnstjck and Legoshln. Story takes place In America, Aus- tralia and Scotland, so that means a Uttle scouting for background shots. V. Nielson is supposed to bring back some American landscape shots from his present trip' for processing. A camera man has been investigating Australian live stock on a game preserve founded by a former noble in the South of Rus- sie. CHINA BIZ OFF 30% Favorablo Exchanga Makos Up For Coin Loss, However Shanghai, June 16. Condition^ here are generally bad, attendance having fallen off 30%, with worse expected during the tropical summer heat. Owing to an approximate 30%, favorable exchange rate tho U. S. offices are still making as much profit on China showings as before, however. 'Rider of Law' Gets Started by Supreme Hollywood, July 2. Cleaning up on latest Johnny Mack Brown picture, 'Branded a Coward,' for indie release. Supreme has next Bob Steele, 'The Rider of the Law.' in production. Brown' ac- tion film is megged by Sam New- field, with Blllle Seward and Sid Saylor in support. Gertrude Messinger has femme lead with Steele, directed by Robert N. Bradbury. Cast Includes Lloyd Ingram, SI Jenks, Don Elliott and Earl Dwyer. F-WC Treasurer East Los Angeles. July 2. Fred L. Metzler, Fox West Coast treasurer, is in Kansas City to su- pervise transfer of operating rec- ords of the two former P-WC sub- sidiary organizations, Fox-Midland and Fox-Rocky Mountain, from the Los Angeles home office to the re- spective headquarters of the new- ly setup operating divisions. Metzler goes on to New York from Kansas City and steps at Denver in his return to the coast. Par Buying Yarns Hollywood, July 2. Denying Coast chatterer stories that Paramount is not considering any stories for some time to come, Ilrnst Lubitsch states that Para- mount is very much in the market for yarns. Although most of the stories arc set for the coming j oar's pro- gram, studio is now looking for ma- terial for next season. Exclusive Stars (Continued from page 3) to Metro for 'David Copperfleld.' Raft's oft-the-lot solo was In 'The Bowery' for UA, | Sylvia Sidney has been with Par, unloaned past few years, but previ- ously made pictures for Fox and UA. United Artists, with Plckford, B'airbanks and Chaplin, has three' stars with the company a decade, hut Ronald • Colman, another long- time solo stickler with Goldwyn, b.'oke his record by taking current lefid in Metro's 'Tale of Two Cities.' 'Warners lists Joe E. Brown, Jomes Cagney and Dick Powell in tlie never-away from home class, while Paul Muni has stuck to the Eurbank lot since 1932, but previ- ously made two. for Fox. Radio slips Into the list with a short-term name, Fred Astalre, who's made two pictures, and Katharln>. Hepburn, who Just about doubles the dance star In RKO service. Wheeler and Woolsiey have been with Radio except for one at Columbia. Columbia, the remaining major, misses the list entirely, closest bet being Grace Moore, who had a two- time try at Metro before clicking In 'One Night of Love.' Col.icldental with the trading spirit among producers is trend by scars with strong b.o, draw to drift into the Itinerant class, doing their stints for four figures weekly, on one, two and three picture deals spread over several lots. Toppers In this class are Lee Tracy and Walter Huston, who can find their way around any lot, sec- onded by such Warners-today-and- Motro-tomorrow stars as Constance Bennett, ^'redrlc March, Ann H»irding, Edward Everett Horton, Leslie Howard, Adolphe enjou and several others. Stock Market Patfae's 16G Net Profit Pathe Exchange, Inc. showed a profit of $16,120 for the 13 weeks ended March 30. The company's net profit for film developing and prlntr ing laboratory was $12,699. The non- operating income, largely accounted for in dividends received froni Du Pont Film Mfg. Co. Corp, totalled $53,689. The statement showed that the company deficit was reduced more than $16,000 over the 13-week period, the new deficit statement being $6,399,820.66. "The earnings of Du Pont Film for the first quarter applicable to the company's Interest therein were In excess of dividends paid. Incorporations NEW YORK Albany. Derkof AmaMment Corp., Rlnga; tbe atrlcal business: capital, 100 sliares, no par value. Directors: Bthel Honlg, Joseph Rtctiman, Joseph Greenberff, all of 261 Broadway, New York City. Bible I.ectnRs, Inc., Manhattan; Bible (ecturcs for radio broadcaata, etc.; capital, 99 shares, no par value. Di- rectors, Floss K. Anthony and Rosemary De'WItte, 121 Madison avenue, and Gertrude Sachs, 68 E. 83rd street. New York City. Hall All Vlctorlaa, c, Manhattan; theatrical business; capital, 100 shares, no par value. Directors: Louis Aldrlch, Ann Martin, Lottie Dunn, 321 W. 44tn street, New York City. Uay Sliore Tlieaters, Inc., Manhattan: operate theatres, etc.: capital, 12,000, Directors: John J. Slattery, 30 Broad Htrect; Jacob Svhaum, 62 Forsyth ove- nuo, New York'City; David Coral, 461 •Kingston avenue, Brooklyn. Eu;;cne I,. oneke, Inc., Oneida; the- atrical business; capital, $6,000. Di- rectors, Busene L. Koneke, 1C03 Sunset .ivcnue; Wlllium A. Douglas, 20 Prospect avenue; Caroline C. Koneke, 1C03 Sunset Avenue, Utica, N. Y. Illspnno International Film Corp., New York: motion picture flImS'; capital, $20,000. Directors; P. C. Kauftmann, 1601 Broadway: F. Armstrong, 72<J Fevcnth lavenue; H. C. Rlchter, 1601 Broadway. New York City. Nlklta Balleff Prodactlons, Inc., Man- hattan; motion picture business; capital, 100 shares, no par value. Directors: Nlklta EallclT. Michael Dalmatoft, .Michel PIcard, 111 "West 67th street. New York City. • Boro Theatres Corp., Bronx^ theatrical business; capital. 25 shares,'~iio par. value. Directors: Adolph Mendel, 332 E, 10th street; Adoph 'Weiss. I?mil Grcenstein, Quecn.H boulevard, Queens, N. Y. Hilary Theatre Corp., Kings; motion picture business: capital 1600. Directors: Pearl Teller, Sophie Svhlndelhelm, Abra- ham .Schwartz, DO Nassau street, New Yoric City. Manhattan Sportlanil, Inc., Kings; operate sportlands, playlands, etc.: c.ipltal, tCOOO. Directors, David Posner, 1507 Eastern Parkway; Beatrice Rauch, 1967 77lli street; Ralph Rose, 1680 Pros- pect place, all of Brooklyn, TrI-Iloro Arena, Inc., Manhattan: oper- ate theatres, roof gardens, etc.; capital, $20,000. ijireccors: Joseph J. O'Lcary, 4104 r,Srd street, 'Woodside, I... I.; Rudolph Muller, 217 East 86th street. New York City; Sam Altabef, 416 Clare- mont Parkway, Bronx. Hweci>.stuk» Mite, Inc., Manhattan: mutton pictures, etc.; capital, 100 shares, no par value. Directors; 3,im Baker, 186 rseacli ISClli street. Hell Harbor, I,. I.; Sallle J.fvlne, ir.34 Sterling place. Urnoltlyn; Juek Kerner, SO \V. 37th street, Ne?p York City. (Continued from page 6) volume for the week. Continuance of this big volume Monday (1) made it the most active Issue on the big board. Much of it, however, was of a profit-taking nature, forcing the Issue down to 6% at the close as compared with a peak price for the week of 6%. Radio B also en- countered selling for profit Monday which dropped It to 56%. Recapitalization Talk This strength in Radio was at- tributed to a. revival of recapitaliza- tion talk, of which little has been heard since last winter. One report given considerable credence recent- ly was. that this new set-up might Include issuance of new common for the old, with the possibility that some of the new might be given In exchange for the Preferred B, plus a bonus to make up dividend ar- rears to 'B' shareholders. Much the same line-up was spoken of last winter, but the directors vetoed all proposals for the time being. The move to new. high ground by Westinghouse Issues followed Is- suance of estimates that Westing- house bookings for the June quar- ter were up 10% over the preceding quarter, though about even with the samei quarter In, 1934. What cheered the trading fraternity was the re- port that the company expected net profits for the first six months this year to be in excess of $4,600,000, or about $1.75 per share. After dragging along near the year's bottom prices for several weeks, both the conimon and pre- ferred Issues of. Consolidated Film Industries staged a fairish come- back. Strength in the latter en- abled It to get to-16% and close with an advance of $1. Consolidated Film common climbed to 4%. At the finish, It was up three-quarters on the week. Paramount remained In a narrow trading range between 4 and 4% It closed at 4%, unchanged. Pathe common was fractionally higher and tho preferred, fractionally lower. American Seating continued strongs Despite some profit-taking In later trading, it was up fractionally at 8, the close. Stock had sold up to 8%, only a quarter away from the year's peak, ^ Warner'a Pref. Rallies Warner Bros, preferred rallied sharply In trading Monday (1) to finish at 26%, for a small gain on the week. It had earlier dipped to 23%. The. common was off frac- tionally at 3'%. Interest In Pox A and Loew's com- mon lagged much of the week. Fox A was down fractionally at 14% after giving promise of getting above IC. The Loew stock slumped to 40% during a period of general market weakness and never got above 41%. It was off 50 cents at the close. Technicolor, which is listed on the N. Y. curb exchange, was the weak sister of the entire group. After getting to 22%, it slid off steadily, reaching its lowest point at the close whicli was at 19%. At' this quotation it was down 2Vi points. The only bright spot in the bond list was furnished by the Para- mount - Broadway liens. Other amusernent bonds were unchanged to 2% piolnts lower. Weakness in Paramount-Famous-Lasky 6s and certificates was pronounced, both selling down to 94% at the finish and both being oft 2% points. Para- mount-Publix 6%s were a little stronger but were down 2% points at the close which was at 96%. Cer- tificates of the same were nearly even, but managed to hit 90% at the windup. Both RKO liens and Warner Bros. 6s were off more tlian a point. Warner Bros, bonds came back from 63% to close at 04%, not far from the year's peak. Indtistrial Barometer Power output was 0% ahead of the same week last year but' car- loadings dipped sharply. Steel op- erating rate also was down, the de- cline being partially accounted for by the July 4 shut-down In some districts this week. Cheering Item was the sale of a stock exchange seat at a new 1935 high of $108,000. General market had to contend not only with political uncertainties In the nation's capital but also was confronted with two large railroad companies filing petitions for re- organization. With many important traders already out of the market .for the July 4 holiday, few were optimistic enough to expect a great deal of the stock market for the remainder of this .week.* In fact, some traders did not expect any definite trend to develop until later li, the month. Adjournment of Congress Is re- garded In Wall Street as likely to be the signal which will markj' the re- vival of the market or at least definitely put an end to the present Irregular tendencies. Recent sensational advances in wheat prices and rises In other grains can be counted on to some extent to be reflected In rising stock prices eventually, some claim. Considerable trading activity was noted In the last' week In future Paramount stocks. They are being dealt In on the Over-the-Counter market on a 'when Issued" basis. However, this has In no wise dimin- ished the Interest. The new Para- mount stock was quoted at 8% bid and 9 asked on Monday (1). The new Paramount first prefer- red was $76.76 bid and $76.76 ask, with the new second preferred quoted at $9.25 bid and $9.75 asked the same day. There also was ac- tivity In the Paramount 68 '66 which closed with a bid price of $89 and asking price of $89.76. All four are on 'when Issued' basis. Summary for Week Ending Monday, July 1: STOCK EXCHANGE High. Low. Sales, Issue and rate. HIgti. t,ow. s'Sft 4V4 .1,400 American Scat : 714 09% 8414 l'l,200 Col. P. vtc. (l)t •€«% 02% 7*4 3V4 7.200 Consol. Film A% .314 22H 14% 3,000 Consol. Film pfd. (lH)t 16% 14')(, 14014 11014 3,000 Eastman Kodak (j) 14714 14414 101% 141 80 Do. pfd 'iM'A \T>1 10% 8% 8,000 Fox ClaoH A V, J4% 27% 20% r.7,900 Gen. Elec. (COc) 12014 2514 42% 31% 10,300 Loew (2) 41% 40% 108 102 400 Do. pfd. fO%) lO.S locr, 7% .<% 400 Madison .Sq. Garden 7 0% 4% 2% M.SOO Paramount ctfs 4% 4 t% % 1,800 Pathe Kxchange % % J7% 8% 1,OCO Pathe Class A 0% 0% 0% 4 274,900 Radio Corp •0% ."i% 02% BO 800 Radio pM. A f3%) .'i.")% r>:> .10% 34% 61,800 Radio pfd. IJ % 02% 2% 11/4 8,700 RKO 2% 2 4(>% 30% 20 tJnIvor.ial pfd ^30% ,10% 4% 2% 7,100 Warner Dros 4K, 28% 14% no Do. pfd 20% 23% .'■4% 32% B7,I0O Wesllnshouse •.'.4% 109 00 30 Do. pfd. (3%) 'lOO 100 • New 1!I3S high. t Plus stoik extr.ns, t Paid this year r>n acto I Kx-dlvidcnd. f New 1935 low. 27 3% Last. S CS% 4% 1T,% 147% 157 14% 23% 41% 108 6% 4% % 0% 0% r..-.% 05% 00';t' 3% 23% r>it% lOft Net ctr. + % •H% + % -i-l -H% -1-1% - % - % - Vj -fl - % + % + % -1-2% -1% - % + % + It + 1 13% 8-' 10(1 00% 00% 07% 97% 0!» 98% 41 00% Bid. .':0»1 4C% 98% 8% 75% 9% 4 00,000 Cien. Thca. Kq., 11% W.mt Keith OS, '40 8(1% ■M),tm l.oew Cs. '41 101 " 11,090 Par-Broudway 3%b, '.">I '00% 12,000 Par-Hdway ctfs r,%s, '5 ♦«!% 33,03(1 l'«r-Fam-Laskj'(l«, ' 9lli 01,000 Do. ctfs... 9,-,Vi 40,000 P:<r-Pub. .'">%», '.") 97% iSl.OOO Do. ctfs 9n% 3,000 RKO dehs 39% 131,000 Warner Bros. C's, •; 05% OVER THE COUNTER, N. Y. Asked. 33-H 48% ll>4 9 79% 0% 4% • New lOX'i hiKh. t IMId this your. t When Issued.