Exhibitors Herald World (Oct-Dec 1930)

December 20, 1930 EXHIBITORS HERALD-WORLD 27 New R K O Building Begun In New Orleans; Will Be Up-to-Date in All Ways (Special to the Herald-World) NEW ORLEANS, Dec. 18.— The RadioKeith-Orpheum film exchance building is now under construction here and is to be occupied by the R K O Distributing Corporation and embodies all the latest features for the proper and safe storage and distribution of films. The building, two stories with the impressive and carefully studied polychrome Florentine design of its facade, will be an embellishment to that portion of the city and will take an important place in its surroundings which includes a number of well designed and distinictive film exchange buildings in this locality which is developing rapidly as the center of the industry in this city. Nothing was overlooked for the convenience and comfort of the patrons and on the first floor, in addition to the film vaults, inspection room, shipping room and record storage room, etc., a complete miniature theatre, including sound and projection equipment and tiers of theatre chairs, etc., is fully and completely equipped for the examination of pictures by prospective customers. On the second floor there is a customers' waiting room and in addition to the private office of Paul H. Tessier, local executive head of the company, there is the large general office well lighted and ventilated with stationary rooms, cloak and dressing rooms and the most up-to-date provisions for dispatching efficiently and expeditiously the large orders constantly handled by this growing company. Mr. Rosenzweig, general sales manager of R K O Distributing Corporation with offices in New York is at present in New Orleans supervising the many details. Financial Statement of MGM and Subsidiaries Consolidated balance sheet, August 31, 1930: ASSETS Current: Cash $ 2,014,592.39 Receivables: Accounts Receivable.. ..$ 2,160,854.40 Notes Receivable 145,839.52 Due from Affiliated Corporations 75,633.00 : 2,382,326.92 Inventories (at Cost) : Film Productions in Process, Completed and Released (after Amortization) $26,952,236.81 Film Advertising Accessories 646,831.81 Studio Materials and Supplies 203,170.31 27,802,238.93 Advances: To Motion Picture Producers, Secured by Film Productions 765,538.35 Total Current $32,964,696.59 Investments: In Affiliated Corporations $ 2,258,652.88 Deposits on Leases and Contracts 216,676.11 Miscellaneous 145,167.70 — 2,620,496.69 Property 100 Per Cent Owned: Land $ 3,324,862.05 Buildings and Equipment 11,293,139.41 $14,618,001.46 Less Reserve for Depreciation 4,173,661.96 10,444,339.50 Prepaid and Deferred 1,482,535.43 Contractors Bonded To Finish New Warner Building by Next May (Special to the Herald-World) NEW YORK, Dec. 18.— All contracts for the new addition to the Warner general offices on 44th street have been let and the contractors are under bond to turn the completed building over to the company on May 1, 1931. The new structure, to be 10 stories high, will give the Warner Brothers a frontage of 200 feet on 44th street and will house several of the departments now functioning in different portions of the Times Square district. Another new building, located on 54th street, which has been planned as the headquarters of various of the music subsidiaries, is so near completion that a portion of it is already occupied. R. H. Maier, head of the construction and building department, expects to have the entire structure ready by January 1. It will be 10 stories in height, with a floor area of 275,000 square feet. Two floors will be given over to the Brunswick Radio division, and the building will also contain the offices of the Warner and First National foreign film bureaus. Continental Theatre Accessories will also be located there. LIABILITIES Current: Accounts Payable $ 4,340,859.69 Federal Income Taxes.... 1,101,167.86 $47,512,068.21 -$ 5,442,027.55 Dividend on Preferred Stock Payable Sept. 15th 78,149.31 Due to Loew's Incorporated 27,009,000.0-0 Deferred Credits 627,032.54 Mortgages of Subsidiary Corporations.... 1,800,629.42 Capital and Surplus: Capital Stock — Authorized and Outstanding: Preferred — 165,395^ Shares at $27.00 Par $ 4,465,675.13 Common — 620,000 Shares 3,100,000.00 7,565,675.13 Surplus: August 31, 1929 $20,382,590.47 Net Profit for Fiscal Year Ended August 31, 1930 9,924,869.44 $30,307,459.91 Dividends Paid and Declared on Preferred Stock..$ 317,905.65 Common Stock.. 25,000,000.00 25,317,905.65 Surplus, August 31, 1930 4,989,554.26 $47,512,068.21 OPERATING STATEMENT Fiscal Year Ended August 31, 1930 Net Operating Income $34,492,858.08 Miscellaneous Income 834,401.10 $35,327,259.18 Less: Amortization of Negative and Positive Cost $23,872,047.50 Studio Depreciation 476,885.14 24,348,932.64 $10,978,326.54 Federal Taxes 1,053,457.10 Net Profit After Taxes $ 9,924,869.44 No Scheduled Conference, So Protection Unsettled (Special to the Herald-World) NEW ORLEANS, Dec. 18.— Failure of out-of-town exhibitors to arrive for a scheduled conference on protection prevented David Palfreyman of the MPDA from taking further steps toward settling the tangle which has developed about this debated question. Palfreyman, who arrived here last week and left recently, expressed himself as coming here for the races. Local exhibitors called upon him to discuss phases of city protection, however, and the country exhibitors were expected to come in for a conference. Soviet Film Unit Sees Dull Future for Sound (Special from Department of Commerce) WASHINGTON, D. C, Dec. 18.— Findings at the first talking picture conference to be held in Russia indicate that sound films are destined to have "hard going" in that country for an indefinite period. Lack of experienced professional actors and technical production experts appear to be the principal difficulties. The film conference did, however, approve a decision to produce 50 complete sound programs during the coming year. The Sojuskino, a film governing board, hopes to wire 1,000 in the next year, but accomplishment of this plan appears difficult. St. Louis Civic Union Plans Two Week Benefit (Special to the Herald-World) ST. LOUIS, Dec. 18.— The Civic Union of St. Louis, an agency "for the suppression of indecency in motion pictures, stage presentations, books and pamphlets," has perfected plans for a two weeks' benefit showing of the motion picture "The Woman Who Was Forgotten" at the Midtown theatre in January. The SkourasWarner organization has permitted the Union to use the Midtown. An attempt will be made to interest schools and churches in the sale of tickets for the show. 15 Cincinnati Houses Sign for Columbia 20 Group and Buck Jones (Special to the Herald-World) NEW YORK, Dec. 18.— Through deals recently completed, Columbia Pictures are assured representation for their product in 15 theatres of the Cincinnati territory. The deal includes the "superior twenty" group, short subjects and Buck Jones Westerns. The following theatres have contracted for the "superior twenty" : The Royal, Grandview, Empress, Garden, Hudson, Monte Vista, Star, Bijou and Gift in Cincinnati; the Liberty or Wilson of Covington, Ky., and the Emery and Pendrola in Reading and Lockland, Ohio. Those which have taken the Buck Jones features in addition to the twenty and shorts are : Marvel, Fairview and Upton in Cincinnati ; Hyde Park in Hyde Park and the Strand or Broadway in Covington. British Censors Pass 60 Films in Single Month (Special from Department of Commerce) WASHINGTON, D. C, Dec. 18.— Statistics issued by the British Board of Censors show that 60 feature length pictures were censored by the board during October, 1930. Forty-eight of these films were sound synchronized, while the remaining 12 were silent. Brown Branch Manager Of "U" in Indianapolis (Special to the Herald-World) INDIANAPOLIS, Dec. 18.— After 12 years as exchange manager for First National here, Floyd Brown has assumed a similar position with Universal, succeeding Oscar Kuschner, resigned. Brown has a record of service with First National dating back to 1918. Schlenk and Hill Added To Sono-Art Sales Staff (Special to the Herald-World) NEW YORK, Dec. 18.— J. E. Schlenk and Ernest Hill have been added to the sales staff of Sono ArtWorld Wide, the former to work out of the Omaha office, and the latter to be connected with the Minneapolis office.