Independent Exhibitors Film Bulletin (1954)

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FINANCIAL BULLETIN FEBRUARY 8, 1954 By Philip R. Ward A.\ ANCIENT Chinese proverb says, "The dogs hark, but the caravan rolls on". And so with Hollywood. It", the first five weeks of 1954, motion picture securities continue to wheel uphill, but at a slightly less acceler ated rate than the jet-propelled finish of 1953. As of this writing, FILM BULLETIN Cinema Average shows 11 key movie issues at a seven year high of 137.625, u]) 2.49r from the 134.375 reading of December 31. That the entire group moved higher by three and one (|uarter points takes on added luster as it was registered in the fact of stiff profit-taking among selected cinemas. Twentieth Century-Fo.x, reportedly anticipating record foreign earnings, and Universal hit year peaks then dipped sharply as gain-realizing set in. Sharjjest advances were recorded in the theatre issues, led by Stanley W arner, uj) one and a half. In the early and middle terms trading volume al)ated mildly as share-buyers paused long enough for breath-catching and an api)raisal of their gain positions. Board's brightest performer on the on-again-ofF-again period was Loew's, which at 14j4 shows no resistance to added advance. Of the other film shares only .\llied Artists weakened in the late weeks after ringing uj) the top gain among cinema issues throughout 1953. Elsewhere easy tones ruled with Columbia, Fox and National Theatres unchanged, and Republic, Paramount and RKO Pictures fractionally higher. The gains made in late '53 have been securely consolidated and the entire slate seems accurately api)raise(l at the higher levels. O FOR THE FOURTH CONSECUTIVE YEAR Universal turns up with im])roved earnings. And for the third successive year it has dished out more in income and excess profits taxes than the sum total of its net profit. Company earned $2,616,356 or $2.35 per share for the fiscal year ended Oct. 31. 1953 compared with $2,307,701 and $2.15 per certificate in the preceding year. Not in the least displeased by this. L'ncle Sam billed Universal for some $3,S()3,000 in Internal Revenue coin. 0 THE MICKEY MOUSE COMPANY IS ONE TO WATCH. Walt Disney Productions ( selling Over-theCounter) has come alive on toj) of an enchanted operating statement that reports net i)er share earnings at 79 cents, up ten cents from the year before. Much of this rise is attrilaitable to revenue from its rousing "Peter Pan" success, but its currently attractive, low cost inventories should sustain improvement. Climbing twcj and a quarter points to its current level of IDs. the issue wins the blue-ribbon award for the highest percentage gain so far this year. THE NEW WARNER BROS. PICTURES CO. IS DOING OKAY. Its report card for the quarter ended November 28 shows that operations netted $765,225, or 30 cents a share on sales volume of $15,823,398. In the corresponding term last year, after eliminating net income from theatre sources, the figure was S741.000. Management officials predict that net for the second quarter ending February 28. will exceed the $592,000 rung up a year ago. PROMETHEUS (Continued from Page 14 J and soon several other films, delving into the wily labyrinth of dope smuggling, were made in quick succession. ( )ne such would be 20th Century-Fox's "Slattery's Hurricane". On the basis of the experience afforded l)y these pictures, the Commissioner quickly reversed his stand. W riting to the executive producer of a small, independent film corporation, he stated : "Our practical experience has been that the shotving of pictures on the very highest level designed to supress the abuse of narcotics drugs has actually resulted in the creation of drug peddlers and addicts. If you embark on a program of this type, you must prepare yourself to accept a situation ivhere juvenile addicts ivill say that they got their first inspiration to experiment ivith narcotics drugs from your material. Recently one youthful addict ivho had been educated about narcotics teas writing a thesis in psychology on the evil effects of narcotics use when apprehended. ' In another instance, the Commissioner informed the Code olifice of the case of a young man, at university level, who was in deep financial straits, and who got the idea of the easy money to be made in dope trafficking from a Hollywood motion picture. He entered the field, and when ])icked up by the Treasury agents, was a dope addict, along with his girl friend. At the behest of Commissioner Anslinger, the whole topic of narcotics was once again closed to the screen. It is significant to note that the film industry is the only medium of entertainment in the country which imposes this restraint on itself. The principle fact remains. This is that there are certain areas of human conduct, and human depravity, which simply do not lend themselves to indiscriminate e.Kploitation in entertainment films. Bitter experience corroborates this dictate of common sense. This is the final reason why Hollywood keeps a discreet distance from them. FILM BULLETIN February 8. 1954 Page 1^