The Exhibitor (Jun-Nov 1944)

11 20TH-FOX 26 WK. PROFIT HITS $6,338,433 TOTAL Common Earnings $3.12 Per Share New York — Twentieth Century-Fox and all subsidiaries, including National Theatres Corporation and Roxy Theatres, l'nc., last week reported a consolidated net profit after all charges for the 26 weeks ended on June 24, 1944, of $6,338,433. After deducting dividends on prior pre¬ ferred and convertible preferred stock, this amounted to $3.12 a share on the 1,742,006 shares of common stock out¬ standing. The consolidated net profit after all charges reported by the corporation for the 26 weeks of 1943, not including National Theatres and Roxy Theatre, Inc., was $3,843,249, equal, after deducting dividends on the convertible preferred stock, to $1.81 a share on the 1,742,000 shares of common stock then outstanding. On July 9, 1943, the corporation bought the outstanding 58 per cent interest in National Theatres Corporation, and it be¬ came a wholly-owned subsidiary. For the purpose of comparison with the above profit of $6,338,433 for the first 26 weeks of 1944, had National Theatres been wholly-owned from the beginning of the year 1943, the profit for the first 26 weeks of that year, including Roxy Theatre, Inc., would have been $5,535,279. After deducting dividends on the con¬ vertible preferred stock, the only pre¬ ferred stock outstanding at that time, this was equal to $2.78 a share on the common stock. For the second quarter ended on June 24, 1944, the consolidated net profit after all charges was $3,152,131, compared with a profit for the first quarter of 1944 of $3,186,302. The profit for the second quar¬ ter of 1943 on a comparable basis was $2,862,506. The board of directors has declared a quarterly cash dividend of $1.12% per share on the outstanding prior preferred stock of the corporation, payable on Sept. 15, 1944, to stockholders of record at the close of business on Sept. 5, 1944. A cash dividend of $.37 % per share for the third quarter of 1944 on the outstand¬ ing convertible preferred stock of the corporation has been declared, payable on Sept. 30, 1944, to stockholders of record at the close of business on Sept. 15, 1944. A quarterly cash dividend of $.50 per share on the outstanding common stock of France Sees WB Shows NEW YORK — Two Warner produc¬ tions, “Sergeant York” and “All This and Heaven, Too,” will be the first American films in French language to enter the liberated mainland of France, it was stated last week. Dubbing of the French dialogue on the pictures was rushed through at the Warner studio, with personnel work¬ ing on a 24-hour basis, and prints were turned over to the Government several days ago. August 30, 1944 the corporation has been declared, pay¬ able on Sept. 30, 1944, to stockholders of record at the close of business on Sept. 15, 1944. The consolidated profit and loss for the 26 weeks ended on June 24, 1944, follows: INCOME: Gross income from sales and rentals and theatre receipts $84,718,836.33 Dividends 101,093.75 Rents from tenants and other income 2,891,861.66 $87,711,791.74 EXPENSES: Operating expenses of exchanges and theatres, administrative ex¬ penses, etc. . $41,529,538.71 Amortization of production and other costs 21,661,765.52 Participation in film rentals 1,435,039.71 $64,626,343.94 $23,085,447.80 DEDUCT: Interest and bond discount and ex¬ pense . $ 266,628.20 Depreciation of fixed assets, not in¬ cluding depreciation of $338,417.77 on studio buildings and equipment, etc., absorbed in pro¬ duction costs 1,096,019.27 $ 1,362,647.47 Net profit before provision for Federal taxes and portion appli¬ cable to minority interests . $21,722,800.33 Provision for Federal taxes on in¬ come: Normal and surtax .. 2,100,000.00 Excess profits tax less post-war refund of $1,380,000 12,420,000.00 14,520,000.00 $ 7,202,800.33 Portion of net profit applicable to minority interests 864,367.31 Net profit . . $ 6,338,433.02 Await Rank Clarification New York — Dr. Alexander Galperson, representative of J. Arthur Rank’s Two Cities Films, revealed upon his arrival from London last week that Rank may split the distribution of his product in this country between 20th Century-Fox and United Artists, or a deal for the entire line-up may be made with one or the other studio. He denied there was any basis for re¬ ports that Grad Sears and Rank had con¬ cluded a deal for the distribution of 10 pictures by UA. He said the deal whereby 20th Century -Fox would handle physical distribution of some of the Rank product was still alive. He announced parleys will be held with other majors. Dr. Galperson arrived here with Sears, David Coplan, and Barrington Gain. C. F. Coe Speaks Chicago — Public relations in the broad¬ casting field was the topic discussed by Charles Francis Coe, MPPDA counsel, in an address yesterday (Aug. 29) before the annual convention of the National Asso¬ ciation of Broadcasters here. THE EXHIBITOR G0LDWYN "INVADES" RENO, NEV., TERRITORY Opens Dance Hall For Pictures Reno, Nev.— Producer Samuel Goldwyn again crashed the wires last week when he opened up a rented dance hall near the railroad tracks as a theatre for his pro¬ ductions. With Mary Pickford and a score of other stars participating, Goldwyn earlier drove the last spike that fastened, the 400th chair to the floor of El Patio ballroom. Goldwyn said he is asking theatres or circuits to pay him a percentage of a picture’s gross profits, this percentage ris¬ ing as the film earns, but some of the theatre circuits insist on buying his films on a flat rental basis. He added that he would not sell his films on these conditions and that “Up In Arms” is consequently kept out of 4,000 cities which otherwise would see it. Reno is one of these. N. Dow Thompson, district manager, T and D Jr. Enterprises, said: “The reason the picture is not shown in the T. and D. theatres is not that we re¬ fused to buy the picture but rather be¬ cause Mr. Goldwyn’s sales organization refused to sell it for a showing in Reno unless we bought the picture for all of our situations, in some of which Mr. Gold¬ wyn’s terms were exorbitant, considering the size of towns and the gross business done in the individual theatres.” Thompson said his organization oper¬ ates about 100 theatres, some under differ¬ ent corporate names. "Brazil" Plan Set New York — It was announced last week that Herbert J. Yates, chairman of the board, after screening the final cut version of Republic’s international musical ex¬ travaganza, “Brazil,” plans a unique ad¬ vertising and exploitation approach in connection with the release. Special screenings of the picture will be held for exhibitors and their publicity departments in all important key cities. In cooperation with theatre men, he will develop the advertising, publicity, radio, and billboard campaigns, first territorially, then welding these into a national campaign. FC Has 26 Branches New York — With the closing of five additional franchise deals, George Hirliman, president, Film Classics, announced last week that the company has 26 branches, with deals pending for three more. Complete national distribution cov¬ erage is expected by Sept. 15. Film Classics of Buffalo has distribution facilities in both Buffalo and Albany, N. Y. This branch is headed by Sanford Gottlieb, who recently resigned after 10% years with MGM in various exchanges. AMS Gets New Name Washington — Officials announced last week that the name of the Army Morale Services, which produces for the Army informational and educational films, has been changed to the Information and Edu¬ cation Division. QUIN.