The Film Daily (1943)

lesday, May 4, 1943 <9*fab Oth -Fox Annual Net Skyrockets Over 100% 0,609,784 Earnings Repsents $5,687,858 Gain; ssets Reach $50,441,959 (Continued from Page 1) excess profits tax. For 1941 the npany paid total taxes of $2,275, I, none of which was excess profits ■ry. Tax requirement in 1942 was jrVed due to the carrying over rr-or year's excess profits credits. $756,000, in NT Dividends 'Dividends received from National eaters Corp., 42 per cent owned 20th Fox, amounted to $756,000 t year, compared to $693,000 in II, and the company's interest 'NT earnings amounted to $1,420, B ompany paid full dividends on preferred stock at the rate of 30 per year, amounting to $1,370, Common stock dividends, $1.25 share, totaled $2,177,499. Out nding capital stock at Dec. 26 1942 iprised 908,681 shares of preferred 1 1,742,000 shares of common. wentieth-Fox added $3,500,000 to its ine account because of the conversion of ling balances into dollars in New York, this, $2,900,000 was included in third rter earnings and $600,000 in the final rter. During 1942, $600,000 was set \e out of earnings as a reserve to currency 1 fictions. Xet assets in foreign countries Dec. 26, 1942 totaled $9,398,386 against >ch there was a reserve of $900,000, leaving it of $8,498,386. Net balance at the end 1941 was $9,028,374. $50,441,959 Current Assets urrent assets at Dec. 26 amounted to 441,959 including $12,045,953 cash and ,00,000 U. S. Treasury Motes -Tax SerC, as against current liabilities of $13,904. During 1942, inventories increased $4,179,437. l issuing the report. President Spyros P. uras noted that operating results are per4 best measured by the comparison of net it before Federal taxes and before changes he reserve for foreign assets. This comson shows an increase from $7,747,088 1941 to $15,169,784 for 1942. n the basis of 1941 earnings a prefcd stock retirement fund of $181,714.38 set up as required by the certificate of rporation and the company acquired /,shares of preferred at an average of 96 per share. The 1942 appropriation this purpose was $466,284.32 i Ge I There Is Apparently No Limit To The Help Filmland Gives To The Nation's War Effort! Guttural commands and sing-song orders in the exact fashion of German and Japanese officers, rang recently on the terrain surrounding Camp Roberts, Calif., and the orders sent into action groups of Nazi and Nipponese troops, — actually U. S. soldiers of the 88th Infantry Training Battalion, uniformed, armed, and equipped like the foe. Their role in the sham battle against their comrades was conceived and arranged by Lt. G. Hollis Kennahan, former member of Warner Bros, home office publicity staff, and ex-member of the editorial staff of THE FILM DAILY. In fact, H. M. Warner, WB president, donated the enemy uniforms, et al, from his company's studio wardrobe department. The battle was characterized as a big success, and a definite aid to training. Lt. Kennahan, who entered Camp Roberts as a 2nd Lieutenant, after graduating from Officers Training at Fort Benning, Ga., is now a 1st Lieutenant. TO THE COLORS! . -g linal quarter of 1942 showed a consolidated , profit of $3,353,781. compared with $5,109 for the third quarter and $3,372,762 the fourth quarter of 1941. Roxy Net at $109,355 et profit of Roxy Theater, Inc.. of which •Fox owns the entire issue of 10.000 es of common, $225,000 face amount of mortgage bonds and 4,774 shares of 3 lerred, was $109,355.72 for the year ended . 25, 1942. This is not included in the -Fox consolidated statement. ComparI 1941 profit was $36,934. inn Named UA Buffalo, ' itston. New Haven Mgr. (Continued from Page 1) I the late Charles Stern, it was anmced yesterday by Carl Leserman, leral sales manager, at the open; session of the two-day district onagers' meeting. Winn is the •mer St. Louis branch manager. Initial session of the meeting was /oted to screenings of Hunt Romberg's "Lady of Burlesque" i Sol Lesser's "Stage Door Cann." Crescent Otters Reorg. Plan Proposal Goes Before Court on Thursday (Continued reorganization, which would carry out principal provisions of the decree, follows: "That within one year from the date of this decree (unless there is an appeal, and then within six months from the date the decree becomes final, if affirmed) defendant exhibitors shall present to the court a plan of reorganization pursuant to which none of said defendant exhibitor corporations will own stock inany other of said defendantexhibitor. Corporations and neither the defendant, Sudekum, nor the defendant, Stengel, shall be an officer of more than one of said defendant corporations. In preparing said plan or reorganization defendant exhibitors may take into consideration the question of Federal income taxes as far as practical. The plan may contain provisions wlhereby theaters owned and operated by the defendant exhibitors may be transferred or leased to another defendant exhibitor corporation; but such provisions, as well as all other provisions of the plan, shall be subject to the approval of the court after a hearing at which all interested parties, including stockholders,, whether or not they are parties to this pro from Page 1 ) ceeding, shall have the opportunity to present objections." The attack of Crescent Counsel William Waller on the proposed decree claims that the first nine sections are too indefinite and that the "defendant exhibitors are entitled to have prescribed for them some certain standard of conduct otherwise they might find themselves in contempt of court." It further insists that "defendant exhibitors should be told what theaters must be disposed of or abandoned and what should be done with each of them." Further evidence of the "indefiniteness" of the decree in its present form is offered by Counsel Waller in his objection to Provision 10. This section orders the invalidation of all existing franchises, including in the list of corporations Cumberland Amusement Company and among individuals the names of Anthony Sudekum and K. C. Stengel. Waller points out that neither Cumberland Amusement Co. or defendants Sudekum and Stengel are parties to any of the existing franchises. Concerning the provision for payment of all costs by defendants, the Crescent plea contends : "We think that costs should not be taxed entirely against exhibitor defendants and United Artists Corporation, unless it is understood that only the clerk's costs are referred to. Fees of witnesses, including mileage fees, should be paid by the parties who called the witnesses. In this case the Government had numerous witnesses who came from distant points and remained in Nashville for several days. It would unduly penalize defendant exhibitors to be required to pay these expenses." Edward J. Raftery, for United Artists, has pleaded that his corporation was "too lightly implicated" in the sui't to be taxed with any part of the costs which represent the major financial stake in the litigation. Attorney W. H. Mitchell, Florence, Ala., has filed a motion in behalf of Muscle Shoals Theaters, Inc., and will defend it before Judge Davies Thursday. * COMMISSIONED * JEFFREY LYNN, Warner player, commissioned a second lieutenant, USA. HAROLD SHAPIRO, Milwaukee attorney, commissioned a lieutenant (j.g.), USNR. HIRAM C. HANSON, Eastman Kodak Co.. Rochester, commissioned an ensign, USNR. — • — * PROMOTED * MAJ. KENNETH W. CLARK, former MPPDA director of public relations, promoted to lieutenant colonel. CAPT. WAYNE KING, promoted to major. RAY BROWN, JR., former Warner theater manager, and son of Ray Brown, Warner district manager, Cleveland, promoted to staff sergeant. * ARMY * ERWIN LANG, United Artists exchange. Chicago. JOSEPH ZISOOK, M-C-M, Chicago. MARTIN SHACKIN, M-G-M, Chicago. JOHNNY WILSON, National Screen Service Seattle. WALLY NASS, National Screen Service, Seattle. CHARLES FREEMAN, manager, Lincoln, Stuart and Nebraska Theaters, Lincoln, Neb DESI ARNAZ, Hollywood. AL BEICH, Republic writer, Hollywood. GEORCE SANTORO, Republic prop department, Hollywood. CHARLES M. BROWN, free lance writer, Hollywood. * NAVY * PAUL JACOBS, manager, Warners' Columbia Theater, Portsmouth. Ben Lourie to Chicago As Columbia Manager New Haven, O. — Benjamin J. Lourie, Columbia salesman, with the company here since 1931, has been promoted to the managership of the Chicago exchange. Lourie entered the film business 22 years ago as salesman for Franklin Film Co., franchise-holder for Warners pictures, in Boston. Two years later he became New Haven manager for the same outfit, later going over to Tiffany. Herman Weingarten Dies In Miami; Rites Friday Funeral services for Herman Weingarten, 62, who owned theater real estate in New York, including the Art Theater, will be held at 1:30 p. m. Friday at Riverside Funeral Chapel, 76th St., and Amsterdam Ave. He died in Miami Sunday morning. Survivors include his wife, Bernice, and two daughters, Mrs. Esther Fildman and Mrs. Henrietta Weiss. N NTS-Bludworth Join With Change of Name (Continued from Page 1) Walter E. Green, president of NTS. Latter said in his statement that addition of Bludworth to the company's line would greatly increase the scope of NTS's business. "In this expansion of National's development," Green pointed out, "operations of the combined organizations will be carried on under the corporate title of National-SimplexBludworth, Inc. In the theater equipment and allied fields, the 16-yearold equipment organization will, in the future, utilize the full title of National Theatre Supply Division of National-Simplex-Bludworth, Inc. This is the only change, so far as National Theatre Supply is concerned." Green emphasized the fact that there has been no other change in the executive management of National or in its 28 branches throughout the country. George Friedl, former president of Bludworth, Inc., with headquarters in New York, long active in SMPE, has been elected a vice-president of National Simplex Bludworth. Services for Mrs. Title Funeral services for Mrs. Hanna Title, 85, mother of Sol Title of The Exhibitor circulation department, will be held tomorrow at Park West Funeral Parlor. Interment will be at Union Fields Cemetery. Another survivor is Ben J. Title, former exhibitor, now living in Texas.