The Film Daily (1939)

Monday, October 9, 1939 "Jfe ATLAS HAS NEW RKO UNDERWRITING PLAN (Continued from Page 1) Irving Trust Co., trustee of RKO. Text of the letter follows: "You have made inquiry as to the present disposition of Atlas Corporation toward underwriting an offering of tamon stock to unsecured creditor^under the plan of reorganization of RKO. "As you know, our August underwriting proposal expired because its terms had not been approved within the time stated in the offering and was not renewed only because war had intervened and brought into play new factors. I have since been studying the situation in the light of the new conditions to determine upon fair terms of a new underwriting proposal. "The plan of reorganization calls for the raising of $1,500,000 for reorganization expenses and working capital needs of the parent company only as it was believed that RKO Radio Pictures, Inc. and the various theater subsidiaries have sufficient capital for their own requirements. I see no reason to change this view. "I am making plans to make a new offer to underwrite but would prefer to do so when Mr. Schaefer is here and can take part in our discussions. However, the matter can be taken up with the remaining members of the Board if Mr. Schaefer's return is to be long delayed." RKO Radio Pictures, Inc. has recently completed, or has in work, a number of important pictures which provides the largest inventory of product this company has had for some time. Frank J. Price Dead Oceanport, N. J. — Frank J. Price, 79, the original Beau Broadway of the New York Morning Telegraph, is dead here. Edwin Carewe Stricken West Coast Bureau of THE FILM DAILY Hollywood — Stricken with a heart attack Friday, Edwin Carewe's condition at press time was reported as critical. "Passage" and New Autos to Have Joint Premiere (Continued from Page 1) a prelude to the premiere of the picture, leaders of the automotive industry will stage a "sneak preview" of the 1940 models of motor cars. The "glittering parade of cars and stars," scheduled for the opening day of the picture, was arranged by the Detroit Premiere Committee, recently formed to sponsor the premiere of "Disputed Passage." THE WEEE IN REVIEW Revive Industry Code? — British Production Stymied By L. H. MITCHELL DOMESTIC CODE, ARBITRATION: Week saw move looming for revival of distributors' Trade Practice Code, further negotiations being urged by Ray Branch, prexy of Michigan Allied, with immediate arbitration its aim. ITOA of New York named a committee to revise its arbitration proposal to N. Y. C. circuits. EXHIB. ORGANIZATIONS: Michigan Allied reported weighing its relationship to national Allied as outgrowth of its advocacy of further Code negotiations . . . N. Y. Allied was reported slated to reorganize at Syracuse meeting but majority of members were said to support Prexy Max A. Cohen in the split with national Allied . . . N. Y. indie exhib. group issued call for a state-wide meeting on Oct. 17. GOV'T, OTHER SUITS: Court reserved decision in Gov't's injunction against expansion of the Schine pending outcome of its suit . . . Crescent Amusement Co. demanded bill of particulars in Gov't suit . . . Griffith interests contended D of J was moving to fast in suit against it . . . Federal grand jury probe into alleged industry irregularities and labor racketeering on Coast, neared its end, with Special Prosecutor Carr slated to report to Atty. Gen'l Murphy this week . . . Stockholders sued 20th Century-Fox, seeking cancellation of contracts of a number of top execs. National Press Club Will Sponsor "Smith" Premiere (Continued from Page 1) Smith Goes to Washington" will take place the night of Oct. 17 in the D.A.R.'s 4,000-seat Constitution Hall, Washington, under sponsorship of the National Press Club, it was announced at the week-end. It sets a precedent for the Club, No. 1 organization of newspapermen in the U. S. Arrangements on behalf of the Club were concluded with Columbia Friday by Arthur Hachten, INS, its President; Fred Perkins, head of the Washington Bureau of the Scripps-Howard Newspaper Alliance and Walter Karig, Washington correspondent of the Newark Evening News, forming a Committee. Invitations will be extended to the President and Mrs. Roosevelt, members of the Cabinet, members of the Diplomatic Corps and members of the Senate and the House of Representatives. Zanuch Lines Up 30 Stories for 1940-41 West Coast Bureau of THE FILM DAILY Hollywood — With seven major pix on the current program now shooting, Darryl F. Zanuck is already at work on plans for the 1940-41 lineup. Thus far, Zanuck has acquired rights to approximately 30 novels and plays with a view of production next year. UNIONS: IATSE talked cameramen's contract at Coast . . . Possibility foreseen that Local 306, operators' union, and N. Y. C. circuits would effect a compromise on union's wage increase demand . . . Local 306 reported that Samuel Wolchak of CIO denied that CIO Local 258's charter gave it jurisdiction over projectionists. FOREIGN ENGLAND: Ben Goetz and Sam Sax, back from England, reported no prospect in sight of any large-scale British pix production . . . Cable from London advised that film biz was up 60 per cent and still gaining. AMERICAS: U. S. projected trade pact with Chile reported aid to U. S. films in that country . . . N. L. Nathanson of Famous Players Canadian reported slated to confer with Dominion indies on Canadian clearance . . . Loew's, Inc., reported considering building of nabe theaters in Buenos Aires. RENTERS QUOTA WILL STAND, LONDON HEARS (Continued from Page 1) plans no restriction on film imports, but there is a strong possibility that the Government will require that a certain amount of money accruing from U. S. pix distribution here remain in the country. West End theaters on Friday were granted a concession on closing as a result of CEA representations covering several weeks. The 6 p.m. curfew is ended. Five West End houses will be permitted to remain open until 10 p.m. one week, six others alternating. Cole and Myers to Attend Syracuse Allied Meeting? (Continued from Page 1) being sought by the group sponsoring the session at which affiliation with national Allied is expected to be determined. For the past twenty-one years Film Daily Year Books have been recognized as the Standard Reference Books of the Motion Picture Industry. Put them all together and you have the finest history of the motion picture business during this period of time obtainable anywhere in the world. Film Daily Year Books are an integral part of the industry. The 1940 edition is now in preparation.