Exhibitors Herald and Moving Picture World (Apr-Jun 1930)

April 26, 1930 EXHIBITORS HERALD-WORLD 13 Fox Cabinet in F ull Operation; Grainger Film General Manager Talley and Allvine Keep Posts; Zanft Slated for Large Duties Sheehan in Full Command Under Benevolent Presidency of Clarke — New Directors on Boards (Special to the Herald-World) NEW YORK, April 22. — The men who played such a conspicuous part in building up the William Fox organizations are more firmly intrenched than ever. With Winfield Sheehan in full command, under the benevolent presidency of Harley L. Clarke, the so called Fox cabinet is once more in full operation. Mayors of Many Cities at Opening Of the Hollywood (Special to the Herald-World) NEW YORK, April 22. — The opening of the Hollywood theatre here tonight has been one of the outstanding events of the season. This Broadway house, which was erected by the Warners in memory of their brother Sam, is one of the finest theatres in the Warner string, the first built especially for sound and boasts of the largest screen frame in the world. The theatre was packed at the opening and among the many celebrities who attended was a delegation of mayors from many cities headed by James J. Walker, mayor of New York. The roles of ushers and hat boys were filled by theatrical celebrities. The film offering of the premiere was “Hold Everything,” a Technicolor special based on the stage musical comedy, with Winnie Lightner and Joe E. Brown. Sunday Pictures Voted In by Four Out of Five Illinois Communities (Special to the Herald-World) ST. LOUIS, April 22. — Sunday shows won in four out of five Illinois communities that voted on that question at the state-wide elections held on April 15, the final official counts of the voting indicate. In Rushville, in Schuyler County, the voters overwhelmingly repudiated the Sunday closing law that was forced on the community two years ago by the reform element. The final tabulation shows a clear majority of 200 for Sunday shows. Mason City staged one of the hottest political fights in its history on the question of Sunday shows, practically every voter in the town going to the polls. The margin for Sunday shows was 69. Vandalia, 111., gave a majority of 80 in favor of Sunday amusements. In Vandalia, Sunday shows have been given although there was a Sunday ordinance prohibiting them. Prophetstown also voted for Sunday shows by a large majority, but Erie, 111., a nearby, community, went blue by a margin of 16 votes. Pacent Confirms New Method Developed for Recording Sound on Film (Special to the Herald-World) NEW YORK, April 22. — Rumors that Pacent has developed an entirely new method of recording sound on film were confirmed today by Louis Girard Pacent, president. “It is no longer necessary,” he said, “to conceal the fact that we have perfected a new system of recording, photographically, all manners of sound on motion picture film. After a series of rigid tests during which recording and reproduction were accomplished under the most trying conditions, we are now convinced that we have developed a recorder that is absolutely unlimited with respect to its frequency reproducing range.” It was announced here today that Jimmy Grainger has signed a long-term contract to act as general manager of Fox Film Corporation. His notable services in selling Fox pictures made him a most important factor in the reorganization. Talley, Allvine and Zanft Remain Truman Talley will continue in complete charge of the newsreel and Movietone activities. This former newspaperman, who won a measure of fame in journalistic circles here and abroad, has a position of growing importance. Glendon Allvine, whose work as head of advertising and publicity, made him an important cog in the Fox machine, has been given a new contract. He will leave shortly for the West Coast with Sheehan and Grainger. John Zanft, who was relieved some time ago of the command of Fox’s deluxe houses, will be given a post fully as important as the best he ever had. Debenture Issue Offered First public financing under the new order of things was announced by General Theatres Equipment, Inc., with an offering of $30,000,000 in ten-year 6 per cent convertible debentures. Marketing of these was to open Wednesday, April 23, at par. This is part of the refinancing plan whereby the Fox companies are to pay off about $100,000,000 of current obligations. The proceeds of the debentures, which will carry warrants for subscription of General Theatres Equipment stock at $45 a share, and which also will be convertible into common stock, will provide part of the funds required by General Theatres Equipment to cover its obligations in connection with the purchase of 50,101 shares of Class B common and not less than 1,000,000 shares of Class A common of Fox Films, as well as all outstanding shares of Class B common of Fox Theatres. Capitalization of General Theatres Equipment, after consummation of the present plan, including retirement of its fifteen year 6 per cent convertible debentures, will consist of $30,000,000 ten-year 6 per cent convertible debenture issue, and 2,847,955 shares of no par value common of an authorized issue of 5,000,000 shares. There also will be outstanding warrants for subscription to 400,00 shares of common, exercisable at $45 a share, not later than May 1, 1933. New Directors Named Incidentally, the new board of directors for Fox is as follows: Matthew C. Brush, president of American International Corporation; Charles W. Higby, president of Hanover Fire Insurance Company; Oscar L. Gubelman, financier; Winfield Sheehan, vice-president and general manager. Fox Film Corporation; Charles B. Stuart, Halsey, Stuart & Co.; Saul E. Rogers, general counsel, Fox Film Corporation, and William Fox. The new directors of Theatres Corporation are Clarke, Arthur F. Lafrentz, president of American Surety Company; Samuel W. Fordyce, lawyer, of St. Louis, Mo.; Robert C. Winmill of Gude, Winmill & Co.; Sheehan, Rogers, Fox, Stuart and Walter R. Herrick of Herrick, Berg & Co. New Suit Is Filed (Special to the Herald-World) NEW YORK, April 22.— Stanley M. Lazarus, counsel for the Class A Stockholders’ Protective Association, filed suit yesterday in supreme court to restrain Fox Films and Theatres from placing in effect the HalseyStuart and Clarke financing program. Harris Chain of 17 Is Latest Added to Warners 9 Theatres (Special to the Herald-World) NEW YORK, April 22. — The Harris chain of seventeen houses in Pennsylvania, Delaware and Ohio, is the latest to come under the Warner banner, the purchase having just been completed. The theatres are the Harris and People, Tarentum, Pa., Harris South Hills in Dormont, Pa., Harris Majestic in Findlay, Ohio, Sixth Street in Coshocton, Ohio, William Penn and Harris theatres in Pittsburgh, Pa., J. P. Harris Memorial and the Harris in McKeesport, Pa., Harris Majestic and a new theatre under construction in Butler, Pa., State and Washington theatres in Washington, Pa., Harris in Donorah, Pa., Harris in Wilmington, Del., Harris in Etna, Pa., and Harris in Mt. Oliver, Pa. Warners Buy Interest In Nakken Patents for Making Sound on Film (Special to the Herald-World) NEW YORK, April 22. — Warner Brothers announced today the purchase of a substantial stock interest in the Nakken Patents Corporation, and the rights to certain basic patents governing methods of producing sound on film, electric transmission of facsimile telegrams and pictures by both wire and radio and in the field of television. Pauline Frederick to Wed (Special to the Herald-World) NEW YORK, April 22.— Pauline Frederick and Hugh Chisholm Leighton, president of the Interstate News company, obtained a marriage license last week.