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

May 3, 1930 EXHIBITORS HERALD-WORLD 31 Full Financial Statement for Paramount for 1929 With Accounts of Profit and Loss and of Surplus Consolidated Balance Sheet, December 28, 1929 ASSETS Cash (Including $500,000 Call Loans) Accounts Receivable: Advances to subsidiary companies (not consolidated) $ 1,405,228.37 Advances to outside producers, (secured by film) 1,238,448.40 Film customers and sundries (including $575, 000 advances to officers, since repaid) 4,884,325.28 Inventory : Released productions, cost less depletion $10,347,479.52 Completed productions, not yet released for exhibition 4,600,023.35 Productions in process of completion 2,254.531.28 Scenarios and other costs applicable to future productions 2,443,104.79 Rights to plays, etc. (at cost) 918,952.02 ! Securities $ 7,971,133.05 7,528,002.05 20,564,090.96 990,169.42 Total current and working assets I Deposits to secure contracts Investments in subsidiary and affiliated companies (not consolidated) Fixed Assets: Land, buildings, leases and equipment (after depreciation) $164,333,183.97 Premiums paid for Capital Stocks of consolidated subsidiaries 10,355,039.06 Advance payments on purchase of real property _ 149,953.10 $37,053,395.48 2,962,009.93 16,473,110.82* 174,838,176.13 Deferred Charges 5,383,625.06 TOTAL ASSETS $236,710,407.42 Consolidated Profit and Loss Account for Twelve Months Ended December 28, 1929 Profit for twelve months $17,537,447.31 Less: Provision for Federal taxes 1,992,902.98 Balance carried to surplus $15,544,544.33* *Inc!uding $199,725.45 undistributed earnings applicable to 65% owned companies, not consolidated. $214,494 shares, under certain conditions, purchaseable by the Corporation any time prior to respective expiration dates of options, and saleable to the Corporation at various dates between August 6, 1930, and March 1, 1932, at prices averaging $80 per share. LIABILITIES AND CAPITAL Accounts Payable Owing to suDsidiary companies (not consolidated) Excise taxes, payrolls and sundries. Owing to outside producers and owners of royalty rights Purchase money obligations maturing serially within twelve months Serial payments on investments due within twelve months.. 1929 Federal taxes (estimated) Total current liabilities Purchase money obligations of subsidiary companies maturing serially after one year Serial payments on investments due after one year Mortgages and Funded Debt: Mortgages and bonds of subsidiary companies (including $2,761,644.29 payable within one year) $57,547,959.84 Twenty-year 6% Sinking Fund Gold Bonds.... 14,323,000.00 Advance payments of film rentals, etc. (self-liquidating) Appropriated Surplus and other reserves TOTAL LIABILITIES Interest of minority stockholders in capital and surplus of subsidiary companies (including $4,740,900 preferred stock) Capital (represented by): Common Stock, 2,685,313 shares without par value $98,979,174,911 Surplus 26,764,025.02 Contingent mortgage liability of subsidiary companies $1,393,907.05 Contingent liability on investment notes discounted 1,268,500.00 $2,662,407.05 TOTAL LIABILITIES AND CAPITAL $ 4,278,261.88 367,376.73 2,946,918.22 1,086,651.21 2,588,236.27 1,313,239.16 2,380,000.00 $14,960,683.47 1,482,256.54 5,776,913.07 71,870,959.84 836,983.17 9,310,995.81 $104,238,791.90 6,728,415.59 125,743,199.93 $236,710,407.42 Consolidated Surplus Account, December 28, 1929 Surplus at December 29, 1928 $18,549,703.19 Add: Profit for twelve months to December 28, 1929, after providing for Federal taxes 15,544,544.33 $34,094,247.52 Less Dividends: On Common stock (paid in 1929) 7,330,222.50 Surplus at December 28, 1929 $26,764,025.02 McGuinness Named Secretary of Allied Houses of Bay State (Special to the Herald-World) BOSTON, April 29. — James J. McGuinness, widely known theatre executive, who for many years was head of the chain of Olympia Theatres in Boston and New England, has been appointed executive secretary of the Allied Theatres of Massachusetts, Inc., an organization that includes all of the leading theatres of the state. The organization is a chamber of commerce of the theatrical industry and includes in its membership the Publix, Radio-Keith-Orpheum, Lowe s FoxPoli — Klaw & Erlanger and Shubert Theatres. George A. Giles, prominent in the amusement and real estate business in Massachusetts, is president of the association which includes on its Board of Directors, Thomas B. Lothian, Stanley Sumner, J. J. Fitzgibbons, Ralph Branton, Charles Winston, Albert Munro, Henry Taylor, Victor J. Morris, Mrs. H. M. Ayer, R. A. Somerby, Hershal Stuart, Thomas J. Meehan and Patrick F. Lydon. The Allied Theatres of Massachusetts, Inc., has been of great assistance to its exhibitor-members in coping with the problems incident to buying, booking and exhibiting their attractions. Universal to Do Jungle All-Talker in Wilds of Borneo; 5 Months’ Job Harry GarsoJi to Leave with Company of 14 to Film and Record “ Ourang ” (Special to the Herald-World) NEW YORK, April 29. — -An all-talking drama of the jungle will be produced by Harry Garson for Universal. To film and record “Ourange” in the wilds of Borneo, a company of 14 will leave on April 30, for a five months’ trip into the very heart of the jungle of the far away island off the Malay peninsula. A private yacht will be chartered at Singapore carrying the company and equipment to Borneo, where three months will be spent in filming the story. All necessary equipment, including laboratory apparatus for developing negatives, will be taken from here, according to Garson. “It is the purpose of this expedition to bring to the screen a gripping drama, not a picture travelog, actually ‘shot’ in this place which Darwin called ‘topsy-turvy land,’ ” said Garson. “We intend to incorporate into it, in story sequence, all of the freaks and thrills of jungle life. I have spent four months on the island and my experience there convinced me of its marvelous possibilities as a setting for a moving picture story. The cast will be selected within the next few days, he said, as will the director and others in the company. Tickets Are Put on Sale for M. P. ’s Club First Flicker Frolic (Special to the Herald-World) NEW YORK, April 29.— Tickets have been placed on sale at the office of the secretary of the Motion Picture Club for that organization’s first annual Flicker Frolic, to be held on May 11 at the Liberty theatre for the benefit of the Motion Picture Relief Fund. Plans have been in the making for a distinctive affair which will be to the Motion Picture Club what the Gambol is to the Lambs, and the Frolic is to the Friars. For nearly a month, President A1 Lichtman has been in California for the purpose of selecting a preview picture which will be the main attraction of that night, as well as to secure certain talking elements of the screen show which will be contributed by the stars of Hollywood. He will start back within a few days. In the meantime, the committee is arranging for the many features of this first annual affair. It is planned to present a program of pictures and of moving picture celebrities such as has never been collected on any stage heretofore. The Liberty theatre, though not a large theatre, is very well equipped to handle such a gathering as this, it is pointed out. The rush for tickets indicates that the house could be sold out twice over.