The Film Daily (1943)

Wednesday, May 19, 1943 TM DAILY RKO's Net Profits Gained During 1942 (Continued from Page 1) losses sustained by RKO Radio Pictures. However, Rathvon explained that as the result of improvement in quality of pictures produced, the JP ing trend of the picture company 7s reversed in November. This improvement, he said, has continued in 1943 and, with theater operating subsidiaries also showing further gains, current operations show substantially increased profits. Consolidated net profits for the first quarter of 1943 after providing for income taxes were $1,925,819, the figure being unaudited. Net profits of theater subsidiaries in 1942 were $3,091,802 as compared with $1,148,205 in 1941. Offsetting theater earnings was a net loss of $2,359,836 sustained by RKO Radio and its subsidiaries. Of this amount approximately $1,700,000 resulted from charges against the profit and loss account to provide write-offs of, and a reserve against, unfinished productions and unused stories and continuities. It was explained that the $3,000,000 borrowed by the corporation last July had been reduced to $2,100,000. Theater subsidiaries further reduced funded debt in 1942 to the extent of approximately $1,600,000. The consolidated statement of profit and loss shows that income from theater admissions, film rentals and sales amounted to $58,152,198. Estimated provision for income taxes was $734,000. The accrued and unpaid dividends on the 6 per cent preferred stock of the corporation were $17.50 per share on May 1, 1943. The annual meeting of stockholders has been called for June 2 in Dover, Del. Among the items of business to come before the stockholders will be a proposal to change the number of directors, to consider an amendment which would permit executives or employes to purchase capital stock in the corporation, to elect directors and to transact any other business that may come before the group. Frank Capra Anthony Bushed Carey Wilson N. Brewster Morse Lothar Mendes Louis Lift-on William Waldholz i T T ▼ That Ladd In "China": • • • OVER in occupied Europe, beleaguered citizens (who can still smile) have a joke among themselves when they see their Nazi oppressors feverishly digging into the ground to erect subsequent fortifications against impending invasion Says one onlooker: "What are they doing?" Replies another: "They're going through to China to attack Chiang Kai-shek in the rear" This comer did a little digging yesterday anent "China." — in this instance the Paramount attraction, which, you will recall, was the subject of considerable controversy when mobs stormed the doors of the New York Paramount, with Harry James playing on the same bill At the time, Phil M. stoutly avered that while Harry, the tantalizing trumpeter, was quite a magnet, so also was the sensational young Para, star of "China," Alan Ladd It didn't take much digging to find out a few things about "China," sans Mister lames, and herewith is our report to John Q. Exhibitor: T T ▼ • • • OVER in Newark, "China" is set to play a fifth week at the Paramount Theater No other attraction we know of has ever grabbed that much playing time in any of the big first-run stands in that city First week it shattered the liouse record Second -week it blasted any second week mark Third week was ahead of any previous third week And the fourth week ivas the best fourth week of any film Out in Denver, as we pen this, the pic is in its initial week, and is ahead of the liouse record In St. Louis, it outshipped first week of "Wake Island" and is right on the tail-light of the amazing gross attained by "Star Spangled Rhythm" And down in Asbury Park, it beat "Rhythm" On May 28, my lads, the Ladd opus bows in a flock of keys, with more records sure to be unlocked. T T ▼ • • • NOW, the clincher, we hold, in the Harry James-Alan Ladd debate-subject, is the current first week of "China" o'er at the Brooklyn Paramount Mister James is not on the program No stage show either Film opened on May 13, the only "added attraction," aside from the screen bill, according to Joe Lee, the house's ace promotionalist, being police reserves haled from the 84th Precinct Police Station to keep the crowds in order The Brooklyn Paramount, by the way, happens to be the fourth largest pic stand in the five boroughs Its 4,540 seats are exceeded numerically only by the Radio City Music Hall, the Roxy, and the Capitol The Brooklyn Paramount scale, Monday to Friday, ranges from 17c for kids to 55c One week-day take on "China" was $8,124.80 First week looks like $30,000 All this, and thousands turned away, too! Managers Lou Levey and Stanley Rosenthal, and their staff, are reported on the verge of collapse ...... T T T • • • ASIDE from its inherent power and timeliness, "China," at the hands of Joe Lee if Co., proved its high exploitability, which means plenty of plus revenue in the ole till Brooklyn Paramount's ad budget for the pic was average But General Lee and his lads on the Ladd opus turned on the blitz via newspapers, billboards, radio, window cards, and store displays A unique increment of the publicity and exploitation campaign was the appeal made in Chinatown , and through the Chinese language newspapers Phil thinks the James-Ladd controversy is settled permanently After all, our desire to go to Heaven is not because Gabriel blows his horn T T ▼ • • • AVENGE PEARL HARBOR! PRC Forming lis Own Producing Company (Continued from Page 1) towards the status of a major company, Fromkess pointed out. "PRC's tremendous development during the past plus our plans for the seasons ahead, made this step necessary. Only under our new setup would it be possible to handle more ambitious productions we plan with their substantially increased shooting scheduled and raised budgets. Our decision to take this vitally important step was also inspired by considerably increased grosses on our recent releases, including the special 'Corregidor.' "Our new plans require us to build up personnel, both acting and production, and so PRC will sign such talent under long-term contracts. In addition, we intend to give our productions national publicity and exploitation campaigns consistent with their boxoffice potentialities, which will be designed to be recordbreaking. Altogether, we plan to spend two and one-half times the amount of money we've appropriated for our program in the past year." Allied Regional Units To Meet With N. J. Group Allied's Eastern regional units will convene with New Jersey Allied when the latter organization holds its Showmen-at-War conference June 29-July 1 at West End, N. J. The Eastern Regional Conference was called by Irving Dollinger, regional vice-president. Representatives from Connecticut, Eastern Pennsylvania, Delaware, Maryland, New Jersey, New York and Washington, D. C, will attend the sessions. National board members also are slated to participate in the parleys. Sessions will be held at the Hollywaad Hotel and E. Thornton Kelly, conference manager, is urging those who exect to attend the meetings to ; make reservations early inasmuch j as the better rooms are limited in | quantity. Special rates have been j obtained for the three-day affair; i namely, $20 each for double ac : commodations and $22 for single oc • cupancy, including meals, for the three days. Walker and Whitman Named to K-A-O Board J. Miller Walker and William Whitman were elected to the board of directors of Keith-Albee-Orpheum Corp. at a meeting of the stockholders yesterday. Walker, secretary of the corporation, replaces DeWitt Millhauser who was not up for reelection, while Whitman fills the vacancy left by the resignation of Lunsford Yandell. Other directors re-elected were Ned E. Depinet, Monroe Goldwater, Malcolm Kingsberg, N. Peter Rathvon and Gordon E. Youngman.