Exhibitors Herald (Dec 1924-Mar 1925)

24 EXHIBITORS HERALD January 10, 1925 Refinancing Plan for Universal Announced by Executives $3,000,000. FAght Per Cent Preferred, Will Be Plaeed on Market by Universal Pictures Company New YORK, December 30. — Universal Pictures Company, Inc., is being formed to acquire the entire outstanding capital stock of Universal Pictures Corporation. A syndicate composed of Dillon, Read & Company and Shields & Company, Universal Pictures Company, Inc., 8 common stock purchase warrants). 'X'HE stock is redeemable as a whole or in part by lot on any dividend date on sixty days notice at $110 a share and accrued dividend. Dividends are payable January 1, April 1, July 1 and October 1. A statement issued by Dillon, Read & Company, says ; “The corporation has adopted the policy of charging off the entire cost of new pictures when released for exhibition, carrying released film at a fixed amount far below the value of released film, if computed by the exhaustion basis used by many other motion picture companies. * * * “Computing earnings on the above basis the consolidated income account of Universal Pictures Corporation for the three years ended November 10, 1923, as applied to the stock of the company to be presently outstanding, shows average annual earnings on this first preferred stock of 3.9 times maximum annual dividend requirement. Earnings for the fiscal year ended November 8, 1924, are estimated to have been at least as large as those for the fiscal year ended November 10, 1923, which were more than five times such dividend requirements. * * * “Purchasers of the first preferred stock will receive warrants entitling the holders to purchase a specified number of shares of common stock of RTniversal Pictures Company, Inc., at $35 a share and including January 1, 1928, and thereafter to and including January 1, 1930, at $40 a share. The warrants will be issued in form pro\idii'g for the purchase of five shares or multiples thereof.” The management will continue in the is offering a new issue of $3,000,000 per cent first preferred stock (with hands of Carl Laemmle and his associates, who have developed the business to its present position. The stock is being offered at $100 a share and accrued dividend. The purchaser of each 5 shares of first preferred stock is to receive a warrant for the purchase of 5 shares of common stock. February Fifth Date for Wampas Festival (Special to Exhibitors Herald) LOS ANGELES, Dec. 30.— The date fixed for the Wampas Ball given by the Western Motion Picture Advertisers, at the Ambassador hotel, the Arena, here, is February 5. At this writing, names of the thirteen baby stars of 1925 are being kept secret by President Harry Wilson, general chairman. Incidentally, before the ball, either Harry Brand, Schenck publicist, or Mark Larkin, Pickford-Fairbanks press representative, will be chosen president. Both have been nominated. Die in Theatre Fire (Special to Exhibitors Herald) WILSON, OKLA., Dec. 30.— J. T. Horton and H. A. Edmonston, both 18 years of age and operators at the local theatre, were burned to death by fire which destroyed the house. Death came while the young men were sleeping in their apartment in the theatre building. ^*Peter Pan'' Viewed as One of Year's Big Films by **Wise Men of Industry" By JOHN S. SPARGO NEW YORK, December 30. — If “Peter Pan” does not prove to be one of the really big pictures of the year, or the decade, the calculations of many of the “wise men of the industry” and the reviewers of the daily newspapers, are all wrong. The Paramount version of the Barrie classic opened Sunday at the Rivoli and Rialto without special exploitation and without invited audiences. The consensus of opinion of those who have seen the much heralded Brenon production, is that it more than lives up to all the good things that have been said of it. Probably never in the history of pictures on Broadway have the newspaper reviewers been so unanimous in fulsome praise of a screen effort, and this is backed by opinions expressed by many in the industry who usually view every so-called big production with pessimistic bias. “Peter Pan” opened Sunday to the ordinary Sunday crowd. Monday morning, however, hours before the time for the opening of the two theatres, it was evident that something unusual was on tap. Long lines formed from the box offices and it was seen even then that many would be unable to secure admission. This was proven true at every performance after the opening day. Little Betty Bronson, who has the name part, and Director Herbert Brenon came in for unstinted praise in all the comment heard about the production. Pro-Dis-Co Officers Back From Trip With Pledge of Big Program (Special to Exhibitors Herald) NEW YORK, Dec. 30. — Highly enthusiastic about conditions in the industry, four of the executives of Producers Distributing Corporation, F. C. Munroe, Raymond Pawley, Paul C. Mooney and John C. Flinn returned from Los Angeles last week. In several deals consummated on the trip details were included which will add several important pictures to the Pro-Dis-Co program, and it is understood that the plans call for names in each story, director and cast that will make each production a combination of box office assets. In the last of a series of sales conventions held at Chicago Mooney predicted a greater success in 1925 than during the past year. “In talks with our sales force,” he said, “they told me exhibitors are expressing general satisfaction with the product we supplied during the current year.” First National Man to Open Office in England (Special to Exhibitors Herald) NEW YORK, Dec. 30.— J. A. Koerpel, until recently with the Goldwyn company, leaves January 3 for England for First National as “contact man” on the twentieth anniversary of his entrance into the film world. While with the Goldwyn people his business was that of an efficiency expert. Now he will represent the home office in establishing closer contact with the various agencies of First National Pictures, Ltd., in Great Britain. Later it is expected that he will carry his duties to the continent. Eastman Color Used In Educational Film (Special to Exhibitors Herald) NEW YORK, .Dec. 30. — The Eastman color process, claimed to be the most perfect yet to reach„the screen, is the basis of two subjects pf unusual merit which have been obtained by Educational for distribution. The pictures will display in color Paris fashion^ as worn by Hope Hampton. Kershner Gets Medal (Special to Exhibitors Herald) NEW YORK, Dec. 30. — For his success in filming spectacular sequences in natural colors, Glen R. Kershner, a member of the technicolor staff of the “Ben Hur” company, has been awarded the annual gold medal of 1923 by the International Exposition of Photographic and Cinematographic Art of Italy. The story on which the decision was based, “Lost and Found,” was produced two years ago by Metro. Jewish Guild to Dine (Special to Exhibitors Herald) NEW YORK, Dec. 30. — The first annual dinner of the Jewish Theatrical Guild of America will be held at the Hotel Commodore, February 1, when two thousand people will convene to hear reports and enjoy a short program. The entertainment will be arranged by Eddie Cantor, chairman of the entertainment committee, and master of ceremonies. Deny Luhitsch Rumor (Special to Exhibitors Herald) NEW YORK, Dec. 30.— Sam E. Morris of Warner Brothers has denied recent reports that the Warner attractions directed by Ernest Lubitsch would be released through United Artists.