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APRIL 24, 1954
CANADIAN MOVING PICTURE DIGEST
Famous Players
(Continued from Page 1) however, was more than offset by an increase in film rental for advanced admission price pictures, wages, and operating expenses, the net effect being a Slight decrease in operating profits as compared with the previous year.
“Depreciation writeoffs are somewhat higher than in the previous year. This reflects the conservative attitude adopted by your Company with respect to investments made in drive-in theatres and in the new forms of motion picture presentation.
FINANCIAL POSITION
“The balance sheet enclosed indicates a further substantial improvement in the financial position of your Company. At the year end, net current assets, which include $8,671,000 in cash, securities and call loans, amounted to $9,474,238, an improvement during the year of $1,279,143. The Shareholders’ equity in the business represented by capital stock and earnings retained for use in the business amounted to $29,881,397, an increase during the year of $831,690.
“Those associated Companies whose accounts are not included in the statements submitted herewith continued to make excellent progress during the year. On the balance sheet submitted herewith our investment in the share capital of such companies is carried on our books at a cost of $2,583,767. At the end of 1953 the value of these investments as represented by the net tangible assets of such companies is in excess of $6,500,000.
“During the year your Company paid four regular quarterly dividends of 35c each and an extra dividend of 20c on its outstanding common shares. In view of the excellent financial position of your Company and the expectation of continued good business over the foreseecable future your Directors have placed the common shares on a regular quarterly dividend basis of 3742c commencing with the first quarter of 1954.
“We are pleased to note a continuing growth in the number of shareholders in the Company. At the present time these number 5,243, of which 5,122 are resident in Canada.
SUBSIDIARY COMPANIES
“Two important subsidiaries of your Company are General Theatre Supply Company Limited and Theatre Confections Limited. General Theatre Supply Company Limited markets a full line of theatre equipment and also provides service for our theatres, those operated by our associates and others. Theatre Confections Limited provides confections which are sold at bars in our theatres. The Company also services a number of outside accounts. Both organizations have sales and service branches in leading Canadian cities.
“A recent subsidiary of General Theatre Supply Company Limited is Remington Air Conditioning Co, (Canada) Ltd., for the marketing and servic
ing of Remington air conditioners for homes and offices. We have been developing an organization to handle the sale of these units for which we expect a substantial demand in the immediate future.
THEATRE PROGRAM
“During the year just passed your Company and its Associates continued their policy of bringing existing theatres up to present-day standards. A new theatre was built by an associated company in Deep River, Ont. We are continuing to expand our interests in drivein theatres and at the present time, either alone or in association with others, have new drive-in theatres under way in Dartmouth, N.S., Charlottetown, P.E.I., Campbellton, N.B., and an additional one to serve the Toronto area.
“The year was a momentous one for the Motion Picture Industry. Daring innovations in connection with the production and exhibition of motion pictures were instituted. To take the best advantage of these new ideas, we and our associates expended substantial sums of money for the installation of new equipment in a number of our theatres where we desired to show 3-D and CinemaScope pictures with Stereophonic Sound.
“Paramount Pictures Corporation’s newly developed system of production and presentation called VistaVision will enable us to play pictures in various dimensions in any of our theatres, regardless of their size. VistaVision requires the largest possible screens both as to height and width. Dimensional sound is optional and can be installed at a cost comparatively lower than that of other newly developed sound systems. Since most of our theatres are now equipped with the largest screens possible, we are in a very advantageous position to reap the benefits of this and other new methods of motion picture presentation.
“The New York Times, Tuesday, March 16th, 1954, quotes Dr. Herbert be Kalmus, president and general manager of the Technicolor Corporation, after seeing VistaVision:
“*We have never before seen pictures on so large a screen with such clarity, smoothness, visibility and freedom from grain and with full preservation of magnificent color values.’
PRODUCT
“The quality of product which we were privileged to present to the people of Canada in our theatres-during the past year has shown a very substantial improvement. The schedules of the producers of motion pictures in the United States, England and Europe indicate that all of them are making a serious effort to maintain and improve that quality. Following is a partial list of the superb product which will be available to our theatres in the current season. We have already previewed many of these altractions and have found them to be oulstanding. Paramount's first VistaVision picture with color by Technicolor is
Irving Berlin's “White Christmas,” star
PAGE FIVE
ring Bing Crosby, Danny Kaye, Rosemary Clooney and Vera-Ellen. Also from Paramount: “Bridges of Toko-Ri” (Technicolor) by James Michener and featuring William Holden, Mickey Rooney, Grace Kelly and Frederic March; in Technicolor, “Elephant Walk,” starring Elizabeth Taylor and Dana Andrews; “Knock On Wood” (Technicolor) with Danny Kaye and Mai Zetterling; “Living It Up” in color by Technicolor from the famous musical comedy “Hazel Flagg” starring Dean Martin and Jerry Lewis with Janet Leigh and Sheree North; Alfred Hitchcock’s production in Technicolor, “Rear Window,” with James Stewart and Grace Kelly; “Sabrina Fair’ which brings back to the screen Audrey Hepburn, sensational star of “Roman Holiday” with Humphrey Bogart; Bing Crosby, William Holden and Grace Kelly in “Country Girl” and “The Big Top,” the second Paramount picture to be filmed in VistaVision in Technicolor with Dean Martin, Jerry Lewis and Zsa Zsa Gabor.
“From other studios we will have available for our theatres such attractions as “Brigadoon,” the famed musical hit with Gene Kelly and Van Johnson in color and in CinemaScope from the Metro-Goldwyn-Mayer _ studios. MGM will have “Executive Suite” with an outstanding star cast including Barbara Stanwyck, William Holden, Frederic March, June Allyson and Walter Pidgeon; “The Student Prince” featuring Ann Blyth and Edmund Purdom and Robert Taylor in “The Valley of the Kings.” 20th Century-Fox are producing all their top features in CinemaScope and shortly we will see “Prince Valiant” with Robert Wagner and Janet Leigh; “River of No Return” which was filmed in Canada starring Marilyn Monroe and Robert Mitchum and “Night People” with Gregory Peck. From Warner Bros. will come such features as “A Star Is Born” with Judy Garland and James Mason and the well-known play, “Dial M for Murder” with Ray Milland and Grace Kelly. Among the big’ attractions from Columbia will be “The Caine Mutiny” with Humphrey Bogart and Jose Ferrer.
“Feature films from overseas will include “The Pickwick Papers” with Nigel Patrick starring in the Charles Dickens classic; Jack Hawkins in “Front Page Story” with Elizabeth Allen; Orson Welles in “Three Cases of Murder” and Alastair Sim in “The Inspector Calls.”
TELEMETER
“Your company has a 25-year franchise fer the Canadian rights to Telemeter, the pay-as-you-see coin box device which can be attached to a television set enabling viewers to see special programs such as sporting events, efc., not shown on regular television channels. Your Company has established two subsidiary companies — Trans Canada Telemeter Limited and Telemeter (Ontario) Limited, We are pleased to announce the election of W. C. Thornton Cran as
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