Exhibitors Herald World (Oct-Dec 1930)

30 EXHIBITORS HERALD-WORLD November 15, 1930 $589,848 Contract to R C A For Navy Sound Equipment Apparatus, Built to Navy Specifications, to Go Into Battleships, Shore Stations — Will Train Men to Handle It — Largest Single Order (Special to the Herald-World) NEW YORK, Nov. 13. — R C A Photophone has been awarded a contract involving $589,848 for the installation of sound equipment in ships and shore stations by United States Navy Department. This is said to be the largest single order ever placed for sound equipment and was awarded RCA as the result of bidding which opened October 31. The contract calls for apparatus to be built according to Navy specifications with delivery starting on April 1, 1931. 20 battleships, 60 cruisers, 120 destroyers and the more important shore stations bring the total installations to 300. Arrangements are now in negotiation with 12 producing companies for a supply of pictures. Enlisted men are to be trained to handle the equipment. The closing of the contract marks the entry of sound on a large scale in the educational program of the Navy and follows the recent installation in 60 Army posts. Charles J. Ross, executive vice-president, RCA Photophone, said: "We are extremely gratified that the Navy department has selected RCA sound equipment for the entertainment and instruction of officers and men who constitute this arm of national service. To have been accorded this recognition, following competitve bidding with other manufacturers and following exacting tests by the Navy, is a tribute which any manufacturer in the field might be proud of. This latest and by far greatest single contract of its kind ever made has given our sound equipment a most substantial endorsement. I am confident that the use of this equipment for educational as well as entertainment purposes will do much to establish the scope and importance of sound pictures as new instrumentality of training and education." has been engaged on a new long term contracts by M G M. She has been given a straight comedy part in the new picture "Reducing," in which she is paired with Polly Moran. Radio Corporation to Pay Regular Dividend On Preferred Stock (Special to the Herald-World) NEW YORK, Nov. 13.— The regular quarterly dividend of $1.25 on the Class B preferred stock and 87^4 cents on the Class A preferred has been declared by the Radio Corporation of America. Both will be payable January 1, 1931, to shareholders of record December 1. Officials of the corporation had intimated for some time that the regular dividends would be paid, but weakness in the stock had caused concern in speculative circles as to whether it could be paid. Marie Dressier Rehired (Special to the Herald-World) NEW YORK, Nov. 13.— Marie Dressier, star of "Min and Bill" and "Anna Christie," Paramount Declares $1 Common Dividend, Payable December 27 (Special to the Herald-World) NEW YORK, Nov. 13.— At a meeting of the board of directors of Paramount Publix Corporation, the regularly quarterly dividend was declared, amounting to $1.00 per share on the common stock, payable December 27, 1930, to stockholders of record at the close of business on December 5, 1930. The books will not close. U A Circuit Earns $1. 18 on Common for Year Ended Aug. 31 Net Income $869,631 After Interest, Taxes, Etc. — Total Assets $2,069,511— No Loans (Special to the Herald-World) NEW YORK, Nov. 13.— United Artists Theatre Circuit, Inc., and subsidiaries report for the year ended August 31, 1930, a net income of $869,631 after interest, taxes and provision for depreciation and amortization. This compares with $1,113,732 shown in the previous annual statement, which included the profit realized from sale of minority interest in the P. C. T. Circuit of Great Britain. After deducting $280,000 for preferred dividends on the 40,000 shares of 7 per cent convertible preferred stock there remains $589,631, equivalent to $1.18 a share on the 500,000 shares of common stock. Cash stood on August 31, 1930 at $1,750,548. This compares with cash and call loans of $1,238,973 a year ago. Total current assets on August 31, 1930, were $2,069,511, and current liabilities $313,001. There were no bank loans. Consolidated balance sheets for the years of 1930 and 1929 give the following figures. In the matter of assets, theatre investments (1930) $6,544,869, (1929) $6,748,352; cash (1930) $1,750,548, (1929) $1,238,973. As to liabilities, common stock and surplus (1930) $2,396,978, (1929) $1,807,346; 7 per cent preferred (1930) $4,000,000, (1929) $4,000,000; theatre mortgages and purchase payments (1930) $2,188,222, (1929) $2,771,430. It is understood that the management has under consideration plans for conservative expansion. Brokenshire Signs Two Year Picture Contract (Special to the Herald-World) NEW YORK, Nov. 13.— Norman Brokenshire, well known radio announcer, has just signed a two year contract with Pictorial Cyclopedia, Inc., with offices at 630 — 9th Avenue, New York City. Pictorial Cyclopedia will produce 26 Talk-O-Graphs for 1931 with the personality of Norman Brokenshire in each one. SECURITIES PRICE RANGE Week Ending November 12 (Special to the Herald-World) NEW YORK, Nov. 13. — Following a series of daily declines in the market on the heels of the election returns, shares took an upward course and on Tuesday showed considerable activity in reaching higher levels, though in amusement stocks NEW YORK STOCK MARKET Sales \merican Seating 200 Brunswick-Balke-Collender 2,500 Celotex 2,100 Do. ctfs 1,700 Do. pfd 1,010 Consolidated Film 7,100 Do. pfd 3,280 Eastman Kodak 66.900 Electric Storage Bat 8,000 Fox Film "A" 294.600 Gen. Theatre Equipment 49,200 Keith Albee Orpheum 300 Loew's Inc 159,800 Do. pfd. xw 100 Metro-Goldwyn-Mayer, pfd 200 Mohawk Carpet 6,000 Paramount 90,600 Pathe Exchange 13,500 Do. "A" ..._ 9,100 Radio Corporation 421,200 Do. pfd. "A" 2,200 Do. pfd. "B" 3.500 High Low Close 6% 6 6% i3y2 12% 12% 9% 8% 8% 9% 9 9 32 30 30% 14% 18% 12% 12% 17 % 17% 170% 155% 161 54% 47% 47% 36% 27% 27% 21 16 17% 98 90 90 60% 56 56% 93 93 93 25% 25% 25% 13% 11% 12% 47% 41% 42% 3% 3 3 7% 5% 5% 19% 14% 14% 50% 49 49 51% 45 45 the results were mixed. Eastman Kodak was up 2*4, General Electric 1, but AT&T dropped 3%, Loew's, Inc., 7-8, Paramount-Publix 7-8, Radio :4, and Warner Brothers 1%. Following is a resume of the week's trading : Sales Radio Keith Orpheum 297,000 Shubert Theatres 8,300 Universal Pic. 1st pfd 20 Warner Brothers 189,400 Do.' pfd 300 CHICAGO STOCK MARKET Gen. Theat. Inc 2,350 Marks Brothers evt. p ' 100 Morgan Litho 750 U. S. Gypsum 2,705 Do. pfd 160 NEW YORK CURB Columbia Pictures 1,200 Do. vtc 400 Cons. Theat 200 Fox Theatres 18,900 Loew's war 1,400 National Screen 900 Sentry Safety 1,100 Technicolor, Inc 8,600 Trans-Lux 2,100 U. S. Gypsum 800 ligh Low Close 22 18% 20% 6% 4% 5 46 46 46 19% 13% 14% 35 35 35 r 21 16% 17% 6% 6% 6% 6% 6% 6% 37% 35 35 19 119 119 29% 25% 21% 26% 2ti 25% 2% 2% 6% 4% 5 6% 4% 4% 19% 16% 19% 1% % 1 11 8 8% 6% 5 5% 37 35 % 35%