Exhibitors Herald and Moving Picture World (Oct-Dec 1928)

72 BETTER THEATRES SECTION OF December 22, 1928 IGdLtfG ANNOUNCEMENT TPAILEPS HOUR SERVICE oJLrtistio ANIMATED ^resentatmn^jadprs Volume We Bonnet the Efficient Way We^ Do it,Sa\/es 1/ou Money "SEVEN YEARS OF HONEST SERVICE* (jpprcciatioift Films, Inc. 1029 S.WABASH AVE. CHICAGO, ILL. U, Cash that can be stolen is a magnetl It draws the burglar and hold-up man just as irresistibly as the loadstone draws steel filings. The York Burglary Chest — the result of nearly half a century in expert safe construction — will bring to your theatre the protection needed. York Safe and Lock Company York, Pa. The new Fox theatre in Detroit is an outstanding theatre for many reasons — and many features. While not the first, it undoubtedly is the first huge theatre to be erected with the sound vieivpoint in mind. Now comes the statement that one of the largest rugs ever produced on a power loom is the chenille that lies in the foyer. This rug, of IndoChinese design, zvas made by the Mohawk Carpet Mills at Amisterdam, N. Y. It is 46 feet by 64 feet, while the large rug in the foyer of the Roxy is 41 by 58. The Fox rug ts three-fourths of an inch thick. Shock Absorbers and the Theatre (Continued from page 53) question arose as to his interest. The court proceeded as follows : Average annual net profits of the partnership during three years preceding death $ 400,990.70 Average net tangible ass e t s employed by partne rship three years preceding death — (i.e. gross assets minus liabilities) $1,053,330.00 Partners entitled to 6% on capital... .06 Percentage result .... Reasonable salaries for the two partners $ 63,199.80 100,000.00 ner would be about $245,000, or more than the figures set by the Board of Tax Appeals. This would indicate, perhaps, that the valuation set was the lowest possible valuation that could be made. If I have created a slight dizziness in the comprehending apparatus, in illustrating the above actual case quoted, let me remind you it is only a part of what the life underwriter has to think about, when he is employed by a partnership to provide the aforementioned "cash in real American dollars," which is the only answer to the most vital question at the death of a partner — "What will a willing purchaser pay to a willing seller for such business interest?" In another article I shall discuss corporations— closed and otherwise, together with Federal and State Tax illustrations. 1.688,607. MOTION-PICTURE APPARATUS. Walter L. Wright, Santa Monica, Calif. Filed Sept. 15, 1926. Serial No. 135,524. 10 Claims. (CI. 88—16.4.) Total — (interest on capital and salaries) 163,199.80 Annual profits attributed to good will $ 237,790.90 Estimated that capitalized value of good will producing such profits would be five times the annual profits 5 or $1,188,954.50 Deceased partner's share of good will ($1,188,954 divided by two) $ 594,477.25 Deceased partner's capital account ( tangible assets) 664,819.45 Deceased partner's interest in the partnership $1,259,296.70 Thus, a partnership having a capital of $110,000.00 is valued as being over 2</2 millions as book or tax value and it will be seen that if the "capitalization of net earnings" method were employed in the above figures, that the valuation of the interest of each part 1. A film handling: mechanism comprising a rev itlublc film actuating member, and a series sequentially arranged film gates tangcntially dis posed relative to said actuating member and each having a picture aperture, the gates being post' tinned around the actuating member with the nctunting member engaging the film at the picture apertures