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

20 EXHIBITORS HERALD-WORLD April 26, 1930 W MOTION PICTURE FINANCE Wall Street Shows Caution in Film Stock Buying By LAURENCE STERN NEW YORK, April 22. — Aside from special developments affecting individual issues, the motion picture shares are tending to move within the same narrow trading range which prevails in the general market. The reason for hesitation, of course, continues to be found in the extensive degree of previous advance. Tj'OR several weeks Wall Street has been T showing increasing caution, having in mind the possibility of corrective reaction. The trouble with this theory seems to be that it is too widely held, for the exercise of speculative caution and restraint day after day is itself a corrective influence and tends both to postpone and minimize reaction. * * * It remains to be seen whether the current breathing spell of the film stocks will end in a resumption of major advance. No general significance attaches to the week’s individual movements. Thus, to take two stocks not immediately subject to special developments, Paramount has advanced 54 of a point and Warner has declined 1% points. 5}C :}C ifc All of the Fox issues have moved up, Fox Film advancing 4}/s points, Loew’s Fox Theatres points and General Theatre Equipment holding around 49. Radio-KeithOrpheum’s loss of 1 points is due to the technically bearish influence of the announcement of an offering of additional stock to shareholders at $35 a share in the ratio of one new share for each six held. The company’s confidence in the success of the offering probably can be taken as indicating that any important reaction from present levels is unlikely, but on the other hand speculative movement is normally limited pending completion of financing of this kind. The most important corporate news of the week is the official estimate that Paramount’s March quarter earnings amounted to $1.79 a share, as compared with $1.17 for the cor responding period of last year. Pathe Exchange earned $1.74 per share of Class A preferred in 1929, against 49 cents in 1928. Notable theatre acquisitions have been announced by both Radio-Keith-Orpheum and Warner Brothers. Plan of R CA Control By G.E.-Westinghouse Brings Federal Query ( Special to the Herald-World) NEW YORK, April 22. — At the same time that indications appeared in Washington that the Federal Trade Commission is about to withdraw its sanction of several industries’ code of trade practices, official announcement was made of a plan whereby RCA would take over all radio activities of General Electric and Westinghouse with a doubling of assets and equipment, bringing the assets to a total of 300 millions, while General Electric and Westinghouse would get 68 per cent control of R C A voting stock. David Sarnoff, president of RCA, said the arrangements would bring lower prices for radio sets and tubes. On the floor of the Senate the plan was denounced as meaning a “new radio trust,” and the department of justice stated that the deal was being investigated. Ketner in Hollywood HOLLYWOOD. — Lester Ketner, former Texas Herald-World correspondent, has arrived in Hollywood. He plans to do free-lance publicity work. Pathefs Midwest Sales Meeting at Drake , May 25-27 The Midwest division of the Pathe sales force is to hold its annual convention this year at the Drake hotel, Chicago, while the West Coast group and the Eastern group will hold similar meetings. The Chicago sessions will last three days, May 25, 26 and 27. Attending the meeting of the Midwest division, of which Harry S. Lorch is manager, will be the following sales forces from the branches : Chicago, J. J. Clarke, manager, and Sig Decker, T. Delaney, Charles Filkins, P. Podolsky, Joe Woodward and W. Drake, booker; Detroit, H. A. Silverberg, and A. Chapman, C. E. Runkle, F. Bonnem and F. Strubank; Des Moines, Lou Elman, manager, and N. Sandler, R. W. McEwan and H. A. Kaufman ; Kansas City, Ray Nolan, manager, and R. H. Thompson, M. J. Meyer, D. Meyers, E. L. Dyson, and J. Lewis ; Omaha, R. Ballantyne, manager ; E. A. Harris, C. E. Cook, R. E. Pearson, E. A. Harris, and T. Ferrand, booker; Milwaukee, Tommy Greenwood, manager, and R. Baldwin, booker, S. Chapman and Santland ; Minneapolis, M. Montgomery, manager, and H. S. Dale, S. J. Devlin, E. F. Burke and W. C. Winters. “ Sin Comes to Evanston 99 Chuckles the Tribune as Sunday Shows Win There “Sin and Chicago have advanced a step Northward,” is the satirical welcome given editorially by the Chicago Tribune, to the outcome of the April 8th election in Evanston, where a recount has given a 56-vote victory to the proponents of Sunday shows. Tht Tribune, militant antiprohibitionist, amusedly connects this “desecration of the Sabbath” in the home town of the W. C. T. U., with the influence of Chicago, from which the Northshore suburb is separated by only an imaginary line in the middle of Howard Avenue. “The old folks with their homes give way to young folks with apartments. . . . The old town of quiet streets and shaded lawns, where the family walked to church on Sunday, gives way to builders, sky signs and tall buildings. The flicker of the movies on the Sabbath day is the new restlessness. Evanston evolves.” Evanston liberals have fought for Sunday shows many years. Even this year, the original count showed their defeat. The recount gave them their first victory over the churches and socalled “social welfare” organizations. SECURITIES PRICE RANGE Week Ending April 18 NEW YORK STOCK MARKET Sales High Low Close American Seating 100 21 21 21 Consolidated Film pfd 7,700 26% 24% 25% Do pfd 6,300 26 241/2 25 Eastman Kodak 46,800 247 234% 245 Do pfd 30 127 127 127 Fox Film “A” 36,950 48 40 48 General Theatre Equipment 64,900 49% 47 49 Keith Albee Orpheum pfd 100 128% 128% 128% Loew’s Inc 55,600 88% 82 ys 87% Do pfd. ww 1,500 107 105% 107 Metro-Goldwyn-Mayer, pfd 400 26 26 26 Paramount 60,800 73% 71% 73% Pathe Exchange Do “A” 34,900 6% 5% 6% 13,200 14 12% 13% Radio Corporation 779,400 62% 58% 62% Do pfd. “A” 1.500 56% 55 56% Do pfd. “B” 8.800 84% 82% 83 Radio-Keith-Orpheum 276,000 44 40% 42 Shubert Theatres 14,400 25% 22% 23% Stanley Company 30 72 72 72 Universal Pie., 1st pfd 260 73 71 71 Warner Brothers 102,400 74 72 72% Do pfd — 200 63% 63 63% CHICAGO STOCK MARKET Balaban & Katz 150 83 77 83 Gen. Theatres 20,300 40%. 47% 48% Marks Brothers, cvt. p 200 10% 10% 10% Morgan Litho 600 20% 20% 20% NEW YORK CURB Columbia Pictures 6,000 42% 42% 42% Educational Pictures, pfd 100 25 25 25 Film Insp. Mch 13,700 5% 2% 4 Fox Theatres “A” 54,300 14% 11% 14% Loew’s rts 200 55% 53 55% Do war 800 15% 15% 15% National Screen 11,800 30% 29% 30% Sentry Safety 11,500 8% 7% 8 Technicolor 4,500 72 70% 70% TransLux 4,600 11% 10% 10%