Exhibitors Herald World (Oct-Dec 1929)

December 28, 1929 EXHIBITORS HERALD-WORLD 37 Maurice Kann joins Motion Picture News as editor. DeForest defendant in new Western Electric suit. A Wisconsin joins Allied states. A New DeForest equipment at $3,750 for theatres seating under 5(X). A George Pucker is elected head of the Southeastern Theatre Owners Association. A Theatre war in Canada looms with Nathanson's resignation from Paramount. A Fox grandeur film makes new history at first public show. A U. S. wins French quota fight ; contingent demand shelved. A October Film industry wins federal court okay on credit committee system. Arbitration is revived in Indiana. A Fox acquires 64 Midland theatres in Missouri, Kansas and Iowa in $4,000,000 deal. A Six companies report 5,755 adjustments with 1,200 houses in small theatre aid. A Television will make theatre draw even better, says William S. Paley. A Growth of world film trade is emphasized at S M P E meeting. A Blind prejudice is blamed for British production situation. A General Motors joins radio ; may produce film. A Jerome Beatty heads news bureau started by the Erickson company. Four million six hundred thousand net earnings of Paramount for third quarter. A J. I. Crabtree is elected president of the S M P E. A Trade acts to revise contract after ruling of trust violation. Paramount-Warner merger discarded pending new plan. A Chicago exhibitors battle ordinance prohibiting standing in theatre lobby. A Motion Picture Congress organized by Rembusch for cooperative distribution. A November Showmanship, not politics, to save independents, says Sidney R. Kent. A Al Steffes at Detroit brands Hays and Pettijohn "menaces." A Brookhart makes new move to saddle censorship on industry. A Radio merger links Victor, RCA, General Electric and Westinghouse. A S R O crowds welcome opening of Embassy newsreel theatre. A William Fox sells his First National stock to Warners. A J. F. Norman elected president of Tri-State exhibitors. A Three million four hundred seventy-one thousand dollars Fox net is 130 per cent over same period of 1928. Gains of Famous Players Canadian Following is a comparison of the profit and loss figures of Famous Players Canadian for the past two years: 1929 1928 Operating profit $ 3,376,845 $ 1,507,068 Interest on bonds, debentures and mortgages 575,852 250,446 2,800,993 1,256,622 Depreciation 225,508 301,632 2,575,485 954,990 Written off movietone equipment 208,281 2,367,204 954,990 Other deferred charges (proportion) 152,980 87,398 2,214,224 867,592 Provision for incorporated tax 170,000 73,467 2,044,224 794,125 Preferred dividends 332,054 Surplus for year 2,044,224 462,071 Previous surplus 986,151 524,080 3,030,375 986,151 *Profit from property sales 41,058 Profit and loss surplus $ 3,071,433 $ 986,151 *Less adjustment of depr. res., not applicable to current year. The balance sheet shows an increase of nearly $3,000,000 in property account, while a substantial increase is also shown in investments in and equities acquired in affiliated companies. The figures compare as follows : Assets. 1929 1928 Land $ 3,819,404 $ 2,794,856 Building and equipment ._ 7,023,647 5,187,604 Franchises, contracts, leaseholds, etc 6,427,350 6,392,224 Investments in and equities acquired in affiliated cos 4,368,310 3,649,573 Advances to affiliated companies (secured) 43,938 141,031 Other advances to affiliated companies 112,465 95,300 Mortgages receivable 57,379 — Sundry debtors 119,005 95,917 Government and municipal bonds 22,487 42,462 Call loans _ „ 400,000 Cash 1,622,859 268,277 Inventories 25,598 36,185 Prepaid taxes, insurance, etc _ 188,242 139,762 Other deferred changes 1,886,614* 913,413 $25,717,298 $20,156,604 *Discounts on sec. sold, premiums on sec. redeemed, organization expenses -and improvements to leased premises, movietone expenditures, etc., less proportion written off. Liabilities. 1929 1928 Capital stock $ 7,708,500* $ 7,520,000x Surplus _ _ _ 3,071,433 986,151 zSubsidiaries' stocks 385,891 323,075 6 per cent 1st mortgage bonds, _ _ _ 5,880,000 5,000,000 6V2 per cent debentures 3,000,000 3,000,000 Mortgages _ _ 1,288,321 810,298 Deferred liabilities 782,733 494,568 Bank loan 500,000 Sundry creditors : 304,629 99,587 Owning re purchases of sec. and properties 361,937 Interest accrued 255,953 210,989 Income tax reserve 188,682 82,912 Depreciation reserve 1,982,219 1,629,024 $25,717,298 $20,156,604 *327,540 shares of no par value. x320,000 shares of no par value. zPar value of capital stocks of subsidiary companies not held by F.P.C.C. and share of surpluses applicable thereto. Two suits, third resignation, in Nathanson row in Canada. A Herald-World to honor houses for better sound reproduction. A Publix leads Fox by only 100 in race for theatre control. A Film exports increase million dollars over first nine months in 1928. A RKO gets rights to Spoor-Berggren wide film process. A Talkers helo Famous Canadian to set net profit mark of $2,044,224 in year. A Sound has added 10,000,000 weekly patrons in year, says Hays. A Independent Southern Exhibitors Association joins Allied. A First award of merit for sound reproduction is presented to Warner theatre in New York by Hays. A Verbal fire at Columbus welds hope of M P T O A-Allied merger. Warner net of $17,271,805 is called greatest recorded by any film company. A Raymond Hitchcock dies. December Chicago theatre wins plaque for better reproduction. A Industry watches U. S. suits against Fox and Warners. A Pathe tests sound censorship by starting suit in U. S. court. A Joseph Mogler killed by bandits. A New exhibition contract near; organization merger is deadlocked. A Fox properties will be made larger and stronger under trusteeship plan. A Theatre seating 250 is awarded plaque for sound reproduction. A Southern California organization joins Allied. A Triple quiz follows fire in Pathe sound studio ; 10 dead.