Variety (Dec 1929)

Wednesday, December 11, 1929 PICTURE S VARIETY 21 Par. Stock Steadies Others (Continued from;' page 9) there (expected to be better than 96 net a shareX the directors can Tote a rate of $4, payable In April. In the Ions run that probably would do more for the stock than a split up at this time. Split up -with the new stock on unchanged basis wouldn't do much good and a $2 basis for the new stock with the general business future in doubt nli^ht turn out to be a misstep. Curb continued jauntily up to Monday to deal In Paramount- Famous Lasky new on. a"when, as and if" basis, dealings being In brokers' contracts to , deliver the new stock strictly "if." Sin<3e there Is to be no split up the contract Is o£E and customer gets his money back. System merely means that a new stack of chips was intrpduced Into the trading game tot the time, being. Device Is always emplt>yed and is regarded by brokers as. a desirable one for the, preservation of an open market. Traders can express their Idea of values by sell- ing as well as buying- contracts against delivery, governed by . the same conditions. ;, LoeW's was rather erratic- moving up wlih, difficulty and backing away promptly, strange behavpir for. a stock so well rega;rded for Its Semi- Investment ■ rating. It climbed slovrly from 4l to 53, taking, a week, and then dropped precipitately to 49 Monday. Ma;ny other stocks with good outlook and other attrac- tive features throughout the .list toolc on a similar type of movepaent, giving the Impression that perhaps the powerful biill spohsprshlp of the advance was distributing stock oi> the one hand, while It was ac- cumulating othet Issues. . Churning Warner, Bros. Warner Bros, with its brilliant background of earnings and its Juicy 7/ield of $4 for ah Investment of around $43« was churned -^boiut in enormous volume, but w^as slow In the upturn. On a turnover up to Monday evening (Including, the previous Monday) total sales were well over 200,000 and the" extreme range was less ^ than 6' 't>oInts be tweeh 40 and 46. Mondieiy 32,000 shares <;hanged< hands on a spread of 1 point and. a tiet difference for the day of ^4. It w0l4Id .be a miracle It...buying , deraiand . and the selling urge .were so evenly balanced that so large a quantity' of stock could move at so even a price. The In- ference of course Is obvious that It is being .< manipulated,. although to what end'is anybody's guess. Many well Informed traders think well of Warners' for the pull, both on Its ticker performance and for its trade position; Fox .What is happening in Fox no- body seems to know. On the an- nouncement that Otterson, of Elec- tric Products, and Stuart, of. Halsey, Stuart & Co., had joined with Wil- liam Fox in a trusteeship of the Fox Interests, the Issue got immediately out of its low ground ^"around 50, but couldn't seem to push far into new high. Nearly 500,000 shares were dealt In In the extremely nar- row range of 50-57% with what w.is thought by some tape ^readers to iiiidicate accumulation. Bear argu- ment, is flnancins ahead and need for economy. Puzzle of the whole market pic- ture with reference to the amvise- menta was why they gave Kodak the needle and then let it drop, and at. the same time did nothing but rhark time . with great. energy In ;3peculative possibilities in the rest of the theatre group. • Shiibert Figures Shiubert did practically nothing either way, ruling at its low of 12 for the common stock, repeating the bottom many times, while th§,. 6% bonds eased fractionally to a new low of 52 flat conipared to the old bottom 'of 52%. Shrinkage of the Shubert Issues is startling. At the top of 74 the outstanding 218,000 shares had a quotable value of $16^- 132,000, compared to $2,616,000 at ,12. At the same. time, the bonds from market price of 91%, top for 1929, to 52, have shrunk in ,mafket ap- praisal from $6,450,000 to $3,666,750, a difference of $2,7i84,000i , : Exaihinati^dn of • the" record dis- closes that .the ' funded debt had been, reduced from $7,050,000 In 1927 to $6,860,000 June 30, 1929, rep- resenting about $190,000,,' During the same period mortgages on real estatiB had Increased by - $3,621,813 to $9,084,188. Picturing the ' decline of profits, record shows that net for. fiscal year to .June 30, 1929, was $1,076,377. compared with $1,356,439 In 1928, and $2,320,000 In 1926. ■ ■"■R-K-O R-K-6 justified the many tipsters who have recommended It, moving up from last week's low around 16-17 to better than 23 at one time, but giving way sharply under Mon day's, atta.ck to 20%. Mystery here. Nobody knows, why R-K-O should, dhow special strength with the rest , of the. theatre Issues list lesa , Turnover was well above 100, 000 shares counting Monday's total of 35,000 and last week's 93,000 Maybe ■ another manifestation of a market background in which there are pilenty of possibilities of manip illation. Radio Corp. was what they call a brilliah,t perfornier. Total for the period mentioned was nearly 1,000, 000 shares, top 44%. Mphday's finale 42, for a net gain of around 9 points. Under attack It was well defended, declining only about 2 from the Monday top. In the surrounding bustle a re- markable move took place In .UnI versal preferred which pays $8. and was high at 93 early this year. Some 450 shares changed hands last week at from 28 to 34, a tair spin of more than 10 points net and 16 at the bottom. No srtock came out Monday. Closing was 36 bid, 42 asked. Oh the Curb Fox theatres sold 75,000 shares liast week touching a new bottom at 9% and recovering to better than 12 Monday and hold Ing above 11 at the close. General Theatre Equipment was quiet apd substantially unchanged. EXEC TALKS BY Talking; shorts of a,ll Paramount and Publlx executives are under consideration for , showing In all Publlx tl^eatres to managers and staffs. Pictures, from plans, will be made: by the commercial depart- ment of Paramount News and are proposed for dlatrlbutlon shortly after Jan. 1. Executives' taXka will . cover all. phases, with departmental heads advising oh the various problems. Reason Is the Inability of the. heads to get' around; the; country as frcr- iiuently as before/ Also .on tap Is the idea of making a similar series every four months. Summary for weeb ending December 6. STOCK EXCHANGE r- 1020—• ■.' , . High. Low. . gales. Issfue and rate. ' HlgTi; 41% 21% .000 American Seat (2) 22 25% 10 ". 4,000 CohsoT. Film.........'...;....... 15% V^30»i 15% . 2,600 Consol. Film pfd. (2); i.,..: 20% 254% 150 • 18,100 Eastman Kodak (8)............. 100% 105% 40 400,000 Fox Class A (4) 50% 84Vi 32 , 32,000 lAJew (3%^...,........;......... 52% »5 , S0% 300 Do ptef. (0%) ex, W...... 88. ,40% 1514 100 Keith 10V4 138 70 aoO' Do pref. (7)..... 80 24 11% 9,200 Madison Sq. Garden (l%)-<....- 13 ^ , 21% 600 Met.-M.-G. pref. (1.80). . . 23'.^ TOli 35 ■ 164.700 Paramount-iFam;-Lasky (3)...... ,C4 .14'.i 3%. 8,300 Pathe Exchange.......... 5% .30 5 4,100 Patho Class A ... »% 114% , ,26 574,100 Radio Corp... 44% 40% 12 126,100 Radlo-K*0 ..... 23% 00% 30% 320 Orph pref (8)............ ■ 03% J4i- 12 1,000 Shubert 13% 28 Universal pref. (3)..., 3414 . W'? 30 47,000 •Warner Bros. (4) 44% CO'4 251^, 8,700 Do pref. (2.20).....v. 38% ' ■ CURB 0% 88,500 Fox Theatres.... 11^ 24 8,800 Gfen. The, Eq. V. T.C... 3*" 40*2 7% 80O Loew Rts v. lOVi i2 I'-'s 0,000 Sonora Prod. , 3% 28 20 300 Par. new w.l 27 ■ BONDS "-t** $3,000 Keith C's, '40... 80 J2;t no 8,000 LKiew O's, '41 ...104 lO'J - 4,000 Do ex war »0 iXi, "'OOO Pathe 7'e. '37... 01% 10m< 31.000 Par-Fam-Lasky, 6'S( •47......... 100 "I'i 32 0,000 Shubert O's.... _ r>3>-; ISSUES IN OTHER MARKETS Low. 21% 14% . 20 174 48% 41 80%. 16% • 60 12V^ .23 46% 4% ■ 7% 33% 10% 5?% 12 28 40% 37 0% 31% 12% 1% 20 80 . 102% 04% 48Vi 071;' Last. 23 15% • 20% 100 55% 02% 88 10% SO 13 23% :o4- ..4%: 0 43% 22% 03% 12% 34% 43% 37 10% .14 16% ■ 3% •27 80 104 W% 00'1 Net CTige +. H % — % +21 - 1% + 6% + 9 .+. • % + 4% . % + 1% +10% C% 5% -10% + 1% + % - % + % + n + 2 + 2% -2% +2% + %. -1' bi,i. 21 2^4 2^ 47 .\f=K-Pd. 23 24 8'i 3 CO ■ Prev. bid, 21% 22>fi 2% •> 47 Salfp. 80 UO Quoted for Monday Counter—New York Quoted In Bid and Asked Roxy. Class A (3.CO) .. Vnlt do Unit do. 1 De Forest Phono ' •• Technicolor ' Los Angeles High. Roch. Inc , Toronto Famous Players 41^1 IX)W. 44 La-ot 0% 44 Squeakl^ss! Hollywood, Dec. 10. . , Studios will use aluminum furniture. ■ , " : Lighter to move, but the chief reason is there's no creaks or squeaks to interfere . with .the mike. British Censoring Ideas (Continued from page 5) nearly all of which are controlled by censors, the producers are wor- ried and ax'e ,asking whether or not the rejections are fair, inasmuch as dtiring the same period only three pictures were banned in the whole United States, and these in. Ohio, a notoriously tough slate. In the case of silent pictures tl<e censors had little excuse to eli.iil- nate pictures as a whole. Ob^ec■■ tions in scenes and titles could be generally cut-out .Nvtthout harmlngr the picture materially But now, In ilio case of a talker, the censors realize that the pictures cannot be scissored in sections, so arbitrarily, reject them in toto. In the, accompanying box Is a list of some of the pictures which have been rejected during the past, two nionth£». In most cases .cause is given. In others they were rejected wlthoiVt comment. Vallee's Film Release Helping Dec. Grosses Radio Pictures la releasing- the Rudy Vallee talker, "Vagabond liOyer." to all of the Keith houses In Greater New Tdrk this Satur day (14). It's the quickest release of a $2 special In some -time, the Vallee talker opening at, the Globe two weeks ago. It Is now In Its -Srd week there and will likely close the r.un the same| date. Vallee's greatest- popularity cen ters In the New York sector. His -picture's release at this time for the vaudelllmi houses I^ calculated to give those houses a draw card In the depressed bef6re-Xmas trade. Fighting Unions' Meeting Overtures for peace between two tactions of union electricians In 'New Tork are expected to be made at a me^tingr next week between representatives of No. 3, Electrical Workers of Greater New York, and No. 1 (stagehands) t6 which the stage electricians are afflllated^ The bitterness between the two as to theatre rights has reached such an acute stage that eventually drastic action will be taken by the A, F. of L. ■ "Virginian" Will Run Around the Clock Dec. 31 First actual 24-hour grind In any New York house will take place New Year's lEve at he Rlalto when "The Virginian" will be in Its sec- ond W6ek. Picture opens Dec. 20. Longest continuous run on rec- ord, held by the Rlalto, was the 23-hour grind, the first day of "Two Black Crows" (Far). Serkowich's Assistant Ken Hansen a.sst. to Boris J^Torroa, Publlx' music head, has been shift- ed to the editorial staff of "Publlx Opinion," house organ of the the- atre chain, as assistant to Ben Serkowlch. Sam Shayon, sec. to Sam Dem- boTW, Jr., succeeds Ha sen In the music post. Resign From Tiffany Hollywood, Dec. 10. Bud Barsky, assistant studio manager at Tiffany, has resigned as also Lew Leraleux, as purchas- ing agent. Barsky is belnff replaced by Grant Whytock. Purchasing Job to he. filled J3[y-.-aiiLtojivJ3atzfixJL_^=L=^^„^^ Hawkins Joins DeForest After traveling 82,000 miles for RCA Photophone, Col. Ed Hawkins ha.s gone over to DeForest Phono- film. Mileage competitor Is, Pete Wood- hull, who claims he spent that much railroading while pre.sldent of the MPTOA. COLUMBIA . Picture. Where Censored ' . Reason .. "Light Fingers".....Quebec "S h o uld a Giii Marry" ............Brit. Columbia. ..Iti? application of the com- mon law "Trial Marriage"... .'Saskatchewan... .Objection to its treatment of the marriage laws FIRST NATIONAL ' *^ ; , "dareers" ,... i..... .Que.-Sask.-Ont.. .Suggestion of married women sacrlflclng their honor to. social-; positlon ' • "Man of the Mp- . merit", ............ Quebec-^Sask,..... Featurfes . divorce "Fast Lifes'.'...;.... .Ontarlo-B. C. .;, .Suggestive bedroom scehes '; "Cockeyed World"... Sask.-'Ont.-B.C.. .Indecent, cbai'se, immoi'al^ ."Veiled Women".... Australia ........Impibral .; "Soapsuds Lady",...Australia Vulgar. • - "Far Call"........... Ontario ..... ^... Vicioiis, immoral ' "Girls Gone Wild"...Ontario ..Youthful excesses I / ''Joy Street". ........Ontario . . .Objection to wild partlea: "Frozen Justice".. . .Brit. .Golumbla.., ... M-G-M •• "Big Squawk''....... Saskatchewah. . . .Indecent . "Dad's Day".........Quebec, 1.......... ' "Last- of Mrs. Cheney" Quebec Sound arid silent versions VTrial of Mary Dugan" ...........Australia ........Immorial living "Our . Modern Maid- ^• ens" ..............Ont.-B. C.-Aus.. .Low nioral tpne-^undeslrable side of modern life "Boxing Gloves"..... Saskatchewan... .Vulgar—unfit for:ctilldren "Frontier Romance".. Ontario ........ .Unhlstorical statements that " . , . cowardice and treason lost British Empire territory In TJ. S. "Railroading" .. Ontario .Bad Influence on children playing with railroad trtdns PARAMOUNT ^'Thunderbolt" Ontario ... .. ... .Devoid of morals—glorifying criminals "All America". Ontario iUndiie emphaSIs on TJ. S. "MelancholyDame"..Australia ........Undesirable side of negro ■ ■ -. .■ life,' "When Caesar Ran a • j. Newspaper" Ontario ...... i. . Suggestive and Indecent "Jealousy" ......'....B. C.-Ont........Exchange refused to make cuts "Chinatown Nights".. Australia ........Undesirable underworld- "Fashions In Love"..Quebec .......... "Hole in the Wall"..Great Britain.... "Jed's Vacation",...?Brit. Colurtibla...Vulgar low Qbmedy "The Letter"....Australia ........Immoral—<iefylnff ends of ■'. justice■ J; • ■. .■ "Night Club".......,AustralIa .Obscene and immoral "The Lady Lies"..: .6ntario , " "He Did His Best".. .Brit. Columbia... RADIO ? "Neigh, Neigh, Spark : Plug".. ......Australia ........Vulgar ; , "The Spieler"....... Australia . Cold blodded murder "Woman I Love"... .Quebec .,. ♦•Delightful Rogue". ;B, C.-Ohio. . "Pride of Pawnee". .Ontario .........Shooting and murder "St. Louis Blues"....Ontario Immoral and suggestive "Very Idea",. ..B. C.-Ohlo "Yellow Back" Ontario .........Trailer "Side Street".,,.....Ontario ......... TIFFANY .Saskatchewan... .Its relation to marriage laws "Marriage by Con " Two Men arid a Maid" Quebec "Stormy Waters"... .Ontario Unwholesome and vulgar "The Wrecker"......Ohio ... ' UNITED ARTISTS "Evangeline" .......Brit. Columbia.. .Historical inaccuracies and offense to British citizens "Venus" .....; .Australia ........Sex suggestive UNIVERSAL "The Love Trap"... .Brit. Columbia.. .Immoral, suggestive' "The Royal Pair.".., .Brit. Columbia.. .Abiislrig privileges of British « nobility "Broadway" ........Australia . .Depicts murder and boot- . legging "Hot Puppies". Ontario Excessive fireworks on city ■ ■ ; streets ■ ■ , "Tip 6'f£"..Ontario . .Crime and shbptlng^, • WARNER BROTHERS "Caught In the FPg".. Quebec , "Hard Boiled Rose".. Quebec .... ..*.... "Kid Gloves" Que;-Aus.-Ont. ,.. "Midnight Taxi" Quebec "No Defense" Quebec "One Stolen Night". .Que.-Australia . .Immoral, and brutal "Stolen. Kisses" Que.-Aus.-Ont. , .Indebent "Greyhound Ltd."..,. Ontario ......... Crime, vulgarity "Queen of the Night Clubs" .......... ..Australia ....... .Vulgar ■ "Reedcriiing Sin"....Ont.i-Australia. ...Immoral "Bedtime" . .........Ontario .........Bedroom scfenes Bennett Twins.... ...Australia,. .» .Vulgar Fleeson and Barker. .Australia .Suggestive Florence Moore Australia ...Vulgar and .suggestive \Veston and Lyons^.. Australia. .... .Vulgar^ and dopict.s -(IninkPri- "Madonna of Avenue A" .Ontario "w'^kin Deep".. Brit. Columbia... PATHE Chicago" ..... .Australia ....... Immorality and crliue Godless Girl" Qnt.-Australia Irreverence to religion "Beach Babies" Alberta ....Low and vuhrar "His Operation" Ontario >inking liffht of doctors "New Aunt*... Ontario .........i"5fdroom .scenes. "C