Independent Exhibitors Film Bulletin (1960)

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Newsmakers Pa7he Production Plan A new company has been established to finance the production program presented by Pathe Laboratories to Theatre Owners of America and announced by TOA chief Albert M. Pickus (above). Disclosure of the new firm, Producers and Distributors Finance Co., was made by Gordon K. Greenfield, head of America Corp., parent of Pathe. The plan was presented at a recent meeting among Pathe officials and TOA leaders Pickus, George G. Kerasotes and Walter Reade, Jr. Pickus said that Pathe was ready to wholly finance the program in exchange for TOA cooperation in assuring theatre bookings, and would use scripts and film packages from independent producers. Youngstein Honored United Artists vice president Max E. Youngstein accepts plaque naming him honorary chairman of Children's Asthma Research Institute and Hospital at Denver from Nola Thorpe. Profit Picture M-G-M earnings in fiscal year ending Aug. 31, will be more than 30 per cent ahead of last year, president Joseph R. Vogel (above) said. He declared he will recommend to the board that "additional dividend action be taken," noted that for fiscal 1960 profit will "exceed" S3. 75 per share, well above last year's $2.91. Earnings for the first nine months of the current year represented a 12-year high — $7,317,000 ($2.92 per share), as compared to $6,157,000 ($2.31 per share) for the like span last year. * * * Rivaling the M-G-M jump, on a smaller scale, was the announcement by Allied Artists president Steve Broidy that his firm earned over $1.25 per share in the year ended June 30, I960. Net income totalled about $1,200,000, as compared to last year's net loss of $262,500 ($—.35 per share). Consolidated operating profit of Stanley Warner Corp., for the 39 weeks ended May 28, I960, totalled $2,530,300 ($1.25 per share), as compared to $3,591,300 ($1.77 per share), for the same period last year, president S. H. Fabian announced. Profit for the 13 weeks ended May 28, I960, was $454,300 (S.22 per share), far below last year's $1,337,600 ($.66). Lazarus on Coast Headliners . . . Mr. and Mrs. Roger H. Lewis celebrating birth of their second child, Joshua Hill . . . Greater research lab, program, $1,000,000 I960 goals of Will Rogers Hospital, says president A. Montague . . . A1P execs Nicholson and Arkoff touring Far East, Europe. Columbia Pictures vice president Paul N. La/arus, Jr. (above) completed a week of top-level West Coast talks with studio executives, headed for San Francisco to address the Newspaper Ad Executives Assn. Gerard-Car reras On recent visit to London, Universal Eastern ad-publicity director Philip Gerard (left) meets at Bray Studios with Hammer Film production head Michael Carreras on the British firm's upcoming screamie, "The Werewolf." Schine Tribute Schine Enterprises founder and board chairman J. Myer Schine pays tribute to veteran Schine Circuit employees at recent dinner and cocktail party in Glens Falls, N. Y., honoring more than 1,000 years of service. Listening: at left, Mrs. J. Myer Schine; Donald Schine, v. p. of Schine Enterprises and general mgr. of the Circuit, and his wife. Cmmeht . . . JOSEPH R. VOGEL (at press luncheon): "M-G-M is in close touch with a certain development in the field of pay-TV and intends to play a part in this field if such activity can be shaped up significantly and profitably." EUGENE PICKER (on razing of two Loew's Theatres in New York): "There have been important changes in the hotel and apartment house businesses, changes that promise increased revenues which even highly popular movie houses cannot match. Times change; we are merely keeping step. We have no intentions of liquidating our theatre business. In fact, we think in terms of expansion, if and where the opportunity arises." P*g« 14 Film BULLETIN July II, 1940