The Bioscope (Jul-Sep 1931)

40 THE BIOSCOPE August 26, 1931 Legal and Financial News Welsh-Pearson Misfortunes “ Journey’s End ” The directors of Welsh-Pearson Films, Ltd,, have submitted their report to be presented at the ordinary general meeting of shareholders at Winchester House, Old Broad Street, on Friday next, at 12.30 p.m. Although the profit and loss account shows a balance of £8,542 11s. 4d. transferred to the balance-sheet, the report points out that “ the item ‘ film rights and completed films ’ is taken at £100,000 and the figure placed against this asset is marked subject to valuation.” In the directors’ report presented with the last balance-sheet, the company’s principal assets consisted of a share of world receipts from “ Journey’s End,” the rights of a W. W. Jacobs and other stories, and the value of certain silent and synchronised films. When these were valued by the managing director at £100,000, a high figure was placed on the company’s interest in “ Journey’s End,” based on results anticipated by Tiffany in America. At the time the film was due for general release in U.S.A. a financial crisis occurred, and picture theatre receipts decreased. The effect on “ Journey’s End ” was disastrous, and the U.S.A. bookings were very little in excess of those achieved in Great Britain, although the most modest estimates anticipated a return from America of at least 24 times the return from Great Britain. T. A. Welsh, the managing director, loaned the company a sum of £1,800, George Pearson’s contract with the company expired, and having viewed the financial position, Mr. Welsh consented to the cancellation of his agreement. New agreements were then entered into with these gentlemen, by which they are each paid a comparatively small salary, but are entitled also to a percentage of profits arising out of productions or dealings subsequent to July 1, 1930. During the year, the report states, the company has produced, in conjunction with Gainsborough Pictures, a series of Sir Harry Lauder songs ; an original burlesque entitled “ East Lynne on the Western Front,” and an arrangement has now been entered into with the Gaumont Co. for the production of four films, the first of which will be an adaptation of W. W. Jacobs’ story, “ The Short String.” On November 7, 1930, Leslie C. Lawson, then secretary of the company, was appointed to the board. Mr. Lawson and R. C. Buchanan retire formally, but offer themselves for re-election. PISTOL AT EXHIBITORS’ HEADS A case of considerable interest to the cinema trade was heard before the Leeds Stipendiary Magistrate (Mr. Horace Marshall) last Friday, when the Potternewton Estates Co., Ltd., owners of the Gaiety Cinema, Roundhay Road, was summoned for failing to comply with the Cinematograph Films Act, 1927. Mr. W. Philpot, for the Board of Trade, said that for the year 1929-30, the proportion of British films shown was 5.57 per cent, of long films, and 4.80 per cent, of all films, instead of 7* per cent, in each case. Mr. W. R. Hargrave, for the company, said that in October, 1929, the company installed a British “ talkie ” apparatus, but it had to be removed because it was unsatisfactory. Previously, when the company had shown silent films, the quota of British films was 12* percent. By reason of the character of the films available to his clients in the year 1929-30, it was impracticable to show a larger proportion of British films. Since the firm installed a new machine, the quota of British films shown so far was about 20 per cent. His clients were anxious to show as many British films as possible, but he was instructed that in that particular year there were no comic or serial films. Miller Johnson McVittie, of Manchester, a former official of the C.E.A., giving evidence, said he did not agree with the statement that the British machine was faulty. “ The difficulty in this case,” he said, “ was that the Americans, who control both British and foreign films, would not allow the defendant to have the films because they wanted the largest return. What had and a U.S. Crisis happened in many cases was that the Americans had practically pointed a pistol at the exhibitor’s head and said, ‘ If you don’t change that machine you won’t get films.’” The Stipendiary Magistrate, after hearing further evidence, fined the company £10 and five guineas costs. A CASE DISMISSED John Francis Tidswell was summoned for a similar offence at the Victory Picture House, in Camp Road, Leeds. Mr. Philpot said Mr. Tidswell, according to the returns sent to the Board of Trade, showed only 2.92 per cent, of long films, and 3.01 per cent, of all films during the 12 months ending October 1, 1930. Defendant, giving evidence, said that during that period only 20 British sound on disc films were available for the disc machine installed in the cinema, and they had to be shared between six other houses. He was quite unable, therefore, to comply with the quota. The Stipendiary Magistrate dismissed the case and allowed defendant three guineas costs. JOHN AMERY’S NEW COMPANY At an extraordinary general meeting of Watersport, Ltd., held at 126, Long Acre, on August 18, 1931, a resolution was passed changing the name of the company to John Amery Allied Distributors, Ltd., owing to the new interest that this company, previously a financial sporting syndicate, will take in the John Amery group of companies. The company was originally registered in 1924, with a fully paid-up capital of £10,000. The directors are John Amery and the Count Johnston-Noad. It is primarily intended that the company should distribute the products of the John Amery group and that of certain Continental producing companies. FINED FOR OVERCROWDING A fine of £10 and costs was imposed upon Sol. Sheckman, proprietor of the Royal Cinema, Middlesbrough, at the Middlesbrough Police Court, last Friday for allowing the central gangway in the gallery to be obstructed, and also for permitting more persons to be admitted to the gallery than was authorised under the licence. For the defence it was stated that Mr. Sheckman had been placed in an unfortunate position owing to the death of the manager of the cinema on August 7th. Arrangements were being made for a successor. Mr. Sheckman was not present at the cinema on the evening in question, but a temporary manager was unaware that he was infringing the regulations. BLAMED THE TALKIES The introduction of “ talkies ” was stated at Halifax Bankruptcy Court to have been responsible for the failure of Harold Haigh, of 16, High Street, Queensburv. He said piano playing was going out of date, and consequently teaching. “ If it had not been for the ‘ talkies ’ I should have been all right,” he added. He had been a partner in a picture house at Queensbury but, others having installed “talkies,” this venture failed. The examination was closed. SATISFACTIONS Super Cinema and Theatre (Evesham), Ltd. — Satisfaction registered June 23rd, all moneys, etc., registered January 13, 1928. Williams Cinemas, Ltd. (late Workington Hippodrome, Ltd.). — Satisfaction registered July 8th, all moneys, etc., registered July 6, 1923. Doncaster Electric Theatre Co., Ltd. — Satisfaction registered July 3rd, £2,500, balance of amount registered January 24, 1912. British Lion Film Corporation, Ltd., London, W.C. — Satisfaction registered July 6th, £10,000, registered October 22, 1930. SHARE PRICES Messrs. Redway, Mann & Co., Ltd., state that the market closed on the following quotations : — Name. Value. This Last A. P. P. H ord. £1 Week. 16/9 Week. 16/ Assoc. Talking Pics. 2/ 1/6 Assoc. British Cinemas .... 4/4* 5/3 Do. pref. £1 f.pd. 16/ — Blunt & McCormack _ Brit. Int ord. 5/ 6/ 5/9 Do. pref. £1 18/9 18/6 Brit. Instr ord. 10/ 2/6 2/6 Do. def. 1/ — — Brit. Lion .... def. 1/— -/ 3 — / 3 Do. pref. £1 3/9 3/9 Brit. Filmcraft ord. 5/— — — Brit. & Dom. def. 1/ -/ 6 — / 4* Do. ord. £1 4/ 3/3 Brit. Screen Prod. 5/ Brit. & For ord. 5/ — — Brit. Phototone _ French Do — — Blattner def. 1/ — — Denman P.H. £100 7% deb. ord. 10/ 94 94 ,, Con Gaumont Brit. 89 90 10/9 10/44 Do. n% £i 16/ 16/ Gainsborough ord. £1 SI 7/ Do. def. 1/ -in — / 5i Gen. Theatre pref. £1 7/6 7/6 Do. 6*% deb. 70 70 Met. Cinema.... ord. 10/ — — Do. def. If — — Movie Colour — m -in Morgan Film Service Non-Flam ord. £1 — /6 -/« Do. def. 1/ -in -m New Era N.P. ord. £1 — Do. def. 1/ — — P.C.T. Cons 7% £1 “B” £1 19/3 19/6 P.C.T 18/1* 18/6 P.C.T "£% pr. or.£l 15/3 14/9 Stoll Th ord. 5/ — 4/3 Tussaud’s £1 pref. 26/3 25/9 Do. def. 1/ o/— 4 / United P.T £i 1/6 1/6 Do. 7% deb. 79 80 Union Cinema def. 1/ — — Do. 10% 5/ 1/ 1/ Welsh-P’rson Elder 8% £1 — /4* -/4J Do. ord. 1/ -/ i NEW COMPANIES CARDINAL FILM STUDIOS, LTD.— Private company. Registered August 18 th. Capital £1,000. Objects : To acquire land at Elstree, together with the film studio (or part thereof) erected thereon ; to produce films, etc. The subscribers (each with one share) are : Lew Lake, 33, Heathland Road, N.16, theatrical manager and producer ; Edward Cook, 61, Lionel Road, Ealing, director of companies. The first directors (to number not less than 2 nor more than 5) are not named. Secretary (pro tern) : E. A. Wood. Solicitors : Bevan and Co., 12, Broad Court, Bow Street, W.C. 2. Registered office : 12, Broad Court, Bow Street, W.C. 2. CIVIC AND INDUSTRIAL FILMS, LTD.— Private company. Registered August 17th. Capital £1,000. Objects : To acquire land at Walthamstow, Essex, with a film studio erected thereon, and to alter, enlarge and carry on the said film studio, etc. The subscribers (each with one share) are : Lew Lake, 33, Heathland Road, Stoke Newington, N.16, theatrical manager and producer ; E. Cook, 61, Lionel Road, Ealing, director of tompanies. The first directors are not named. Secretary (pro tern) : E. A. Wood. Solicitors : Bevan and Co., 12, Broad Court, Bow Street, W.C. 2. Registered office : 12, Broad Court, Bow Street, W.C. 2. MAESTEG CINEMAS, LTD.— Private company. Registered July 29th. Capital, £1,000. Objects : To enter into four leases with J. Wild, and to carry on the business of cinema, theatre, music, concert and dancing hall, ballroom, picturedrome, circus and hippodrome proprietors or agents, etc. The provisional directors are : Alfred Withers, Oaklands Hall, Bargoed, Glam ; F. A. Cam, Sunnycroft, Bryn Road, Pontllanfraith, Mon. Solicitor : A. A. Withers, 292, High Holborn, W.C.l.