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

26 EXHIBITORS HERALD-WORLD May 3, 1930 W MOTION PICTURE FINANCE Uptrend in Film Stocks Reflects Several Pending Deals By LAURENCE STERN NEW YORK, April 29. — The outstanding strength displayed by the majority of the motion issues in the face of general reaction in the stock market is even more impressive than their preceding substantial advance. The market has declined gradually but persistently during five out of the six trading sessions of the past week. IT is of unusual interest to Wall Street that the film shares remain in an exceptional uptrend. On the minus side of the ledger there are losses of 2^4 points in Paramount and % of a point in Warner Brothers, neither representing more than minor technical recession. ♦ * * On the other side are new high prices for the year in Radio-Keith-Orpheum, Fox Film, Fox Theatres, Columbia Pictures and Pathe Exchange, as well as continuing firmness in such issues as Loew’s, General Theatre Equipment and Technicolor. Gains among the leaders have ranged from 3 to nearly 8 points. The activity and strength of various of these stocks unquestionably reflect not only a favorable earnings outlook but a variety of pending deals of one kind or another looking toward expansion. Especial interest centers in Columbia Pictures, which is mentioned as a possible Radio-KeithOrpheum acquisition. Whether this is true or not, official announcement of new financing by Radio-Keith, as previously reported bere, points clearly toward further aggressive expansion both in theatres and in production. He * * Warners’ latest step in the broad program of rounding out and strengthening their position in the sound field is the announcement of acquisition of a large stock interest in Nakken Products Corporation, carrying royalty free license on all Nakken patents. Technicolor, Inc., reports earnings of $676,860 in the March quarter, as compared with $101,790 in the corresponding period of last year. Current profits of Columbia Pictures are reported at the rate of $6 a year. Williams Bill, Giving Operators Day of Rest, Signed in New York State (Special to the Herald-World) NEW YORK, April 29. — The only bill pertaining to the motion picture industry to be passed in New York state by the legislature this year was signed by the Governor, Franklin D. Roosevelt, and states: “Every employer operating a place in which motion pictures are shown shall allow the projectionist or operator of the motion picture machine therein at least twenty-four consecutive hours of rest in any calendar week.” The new law does not become effective until after September 1, 1931. Loewfs Houses, T oronto Have 61 Per Cent Increase In Net During Fiscal Year ( Special to the Herald-World) TORONTO, April 29. — An increase of 61 per cent in net operating revenue was enjoyed by the Marcus Loew theatres, Toronto, during the past fiscal year, according to a financial statement issued by the company on April 25. Net profit for the year was $124,801, as compared with $77,307 the previous year. Technicolor Gross For First Quarter Is $676,859.97 Represents Gain of 500 per Cent Over Same 1929 Period (Special to the Herald-World) NEW YORK, April 29. — Technicolor, Inc., and subsidiaries report earnings of $676,859.97, before taxes, for the first quarter of 1930. This represents a gain of more than 500 per cent over earnings of $101,790.31 for the same period in 1929. The Technicolor plant in Boston is now printing approximately 5,000,000 feet of film per month, while the new Hollywood plant will have a capacity of abcJut 3,000,000 feet a month, giving a total capacity of about 100,000,000 feet annually. The consolidated balance sheet, condensed, is as follows : ASSFTS Cash $ 345,858.26 Call Loans 400,000.00 Accounts Receivables 633,884.91 Inventories 484,025.54 Other Assets 47,583.35 Permanent Assets 2,559,633.16 Patents, Research and Development 3,166,711.61 Deferred Charges 140,005.90 $7,777,702.73 LIABILITIES Accounts Payable $ 570,058.45 Deposits on Contracts 1,628,469.65 Minority Interest 10,150.05 Capital: Capital Stock Preferred Authorized 100,000 shs. Less: Unissued 82,575 In Treasury.. 17,420 99,995 shs. Outstanding — 5 shs. $50.00 Common Authorized ..600,000 Outstanding ..515, 047% 3,847,691,00 $3,847,741.00 Surplus 1,721,283.58 5,569,024.58 $7,777,702.73 Morris Month-in-May Drive Keeps Up Pace (Special to the Herald-World.) NEW YORK, April 29.— The Sam E. Morris Month-in-May drive which Warner Brothers selling forces are now engaged in, continues to break its own record, established last year. While the amount of business negotiated during the first few weeks of the campaign was consistently high, it has been greatly exceeded within the last two weeks. SECURITIES PRICE RANGE W eek Ending April 25 NEW YORK STOCK MARKET Sales High Low Close American Seating 200 20 19% 19% Brunswick-Balke-Col lender 5.900 243/* 21 V4 21% Consolidated Film 11,700 2 6 Vs 24% 25 Do pfd 9,100 25% 24 24% Eastman Kodak 123 600 255V4 238 252% Do pfd 10 126 126 126 Fox Film ''A'' 721,000 57% 50 55% General Theatre Equipment 249,200 50 % 47% 49% Keith Albee Orpheum 200 45 43 45 Do pfd 2.100 150 133 149V4 Loew’s Inc 113,900 91V4 86 87% Do pfd. w w 2 100 108 V4 106 107% Do pfd. x w 1,200 92 V4 91% 92 Metro-Goldwyn-Mayer pfd 1,100 26% 26 26% Paramount 73% 70% 71 Pathe Exchange 188,100 9 6% 8% Do "A" 82 S00 19% 131/4 18% Radio Corporation 1,484,300 69% 61% 68% Do pfd. “A” 900 57 55% 55% Do pfd. “B” 5,0(10 84 82% 82% Radio Keith Orpheum 976,700 50 41 47-% Shubert Theatres 61,700 36% 22% 33% Stanley Company 500 73% 68 73% Sales High Low Close Universal Pictures. 1st pfd 400 75 71 71% Warner B rot h er s 184.000 75% 71% 71% Do pfd 500 65% 62 63% CHICAGO STOCK MARKET Balaban & Katz 100 80 79 79 Columbia Pictures 2.700 53 52% 53 General Theatres. Inc 70,950 51 47% 49% Marks Brothers evt p 518 13% 10% 13% Morgan Litho 1.150 20% 20 20 NEW YORK CURB Columbia Pictures 7,900 53% 43% 53% Do vet 20,100 52% 42% 51% Educational Pictures pfd 100 21-% 21% 21% Film Insp. Mch 1,400 4% 3% 3% Fox Theatres 113,800 17% 14% 16% Loew’s its 2,800 56% 52% 56% Do war 2,500 16% 15 16% National Screen 1,700 31 29% 30% Sentry Safety 2.600 7% 7 7% Technicolor 12.400 75% 69 % 74% Trans-Lux 39,500 13% 11% 12% Universal Pictures 1 00 11% 11% 11%