The Film Daily (1924)

iTHE 7Ao brAdstreet o/' FILHD1>t ^ Authority Vol. XXIX No. 50 Thursday, August 28, 1924 Price 5 Cents Stability In Films Industry Not "Spoiled Child" Any Longer, Says Nat'l Bank of Commerce The National Bank of Commerce, one of the important financial institutions that has never, until this time, paid any particular attention to motion pictures has prepared a review of the financial structure of this business. Much of the review will be published in a subsequent issue, but among the highlights, appears the following: "Until 1923 the motion-picture industry was the spoiled child among American industries, spending as lavishly as it pleased on more and more costly productions. This condition was not permanent." The bank says that "spectacular super-productions of the million-dol,lar class magnify the risk which the producer runs," and "they will never be the bread-and-butter earners of the industry. For a year or longer the producer must lose interest on his capital which is tied up in the pictures or pay interest on loans before profits begin." Referring to the "lack of cost control" which brought the industry to a crisis in 1923, resulting in drastic retrenchment by several companies, the bank says: "Only gradually is the motion pic\ ture business gaining recognition as a proper field for the placing of bank funds. Until the pasf year or two few companies could secure loans. * * * At present this condition is changing. Bank officers have been invited to join the directorates of larger film companies, and the modifying of speculative features in the industry is resulting in a less distrustful attitude on the part of the banks." Angling For Release Feelers Out for Directors' Picture, "Her Own Money" Which Grand Asher Was to Handle It is understood from the Coast that the M. P. Directors' Holding Corp. which was scheduled to turn over twenty pictures to Grand-Asher for release has put out a number of feelers for distribution of "Her Own Money", which Paul Powell completed last week. ^ One company, generally placed in the "independent" class but having its own exchange system has been asked by wire if it is interested, but in view of the fact that no one has seen a finished print, the distributor is holding off on a definite reply. Agnes Ayres is starred in "Her ^ Own Money". Extols Service O'Toole of M. P. T. O. Explains How Organization Works — M. P. Day for November In a detailed report issued yesterday of the ground covered at the summer meeting of the board of directors of the M. P. T. O. A. held at Brandford, Conn., Monday and Tuesday, M. J. O'Toole told how the organization is extending its public service work. O'Toole read letters from President Coolidge, Secretary of War Weeks and others commending the actions of the M. P. T. O. in offering and carrying out public service work. He told the directors of how he has been attending meetings of Rotary and Kiwanis Clubs in order to spread the M. P. T. O. gospel. Among the resolutions adopted was one attacking the extension of nontheatrical centers "through the efforts and assistance of producer and distributor agencies" and another expressing opposition to the practice of "forcing upon exhibitors a more extended run of pictures than the (Continued on Page 2) "U" Foreign M'g'rs Sail A. B. Blofson, Universal's general manager in Southern Europe and Henry Henigson, European supervisor sail today for Europe on the Columbus, following a ten day conference with N. L. Manheim here. Blofson brought over a large number of photographs for the use of the Universal production department in making "The Phantom of the Opera". 15 Year Fight Ends Pana, 111. Gets Sunday Shows After Long Struggle Against "Blue Law" Advocates (Special to THE FILM DAILY) Pana, 111. — A fifteen year old fight against "blue laws" has ended here. Pana now has Sunday shows. Claiming that business interests and the majority of people want Sunday picture shows. Mayor E. G. Johnson has exercised his veto power against the measure repealing tiic city ordinance permitting them. Some weeks ago, the City Council passed an ordinance legalizing Sunday shows and other amusements, but when a question concerning the legality of the council's action was raised, the Mayor vetoed the measure. Later, the council by a vote of 5 to 5 again put the question up to the Mayor and this time he favored the measure. A short time ago, two of (Cenlinued on Page 4) Hearing Postponed Garsson Charges Against Officials of Selznick Go Over A WeekTalk of Settlement The hearing of the charges brought by Murray Garsson, producer, against W. C. J. Doolittle and other officers of the Selznick Dist. Corp., for alleged larceny in connection with "Broadway Broke," was postponed yesterday at the West Side Court, until Sept. 5 at the 125th St. Court. The postponement was caused by the absence of Judge Leveen who heard the oijiginal complamt, and who will not serve until next week. It was reported yesterday, following the postponement, that efforts were being made to bring about a settlement. Acquires Four Kansas Houses (.Special to THE FILM DAILY) Kansas City— Capitol Enterprises have taken over the Mainstreet, Hettrick and Peoples at Chanute, Kans., and also the Wareham Theater at Manhattan, Kans. Tilden in Pictures? Afternoon papers reported yesterday that William J. Tilden, the tennis champion may enter pictures. Three New Ones in Montana Butte, Mont.— Reports of new theaters in this part of the state show the following openings: Happy Hour, Bear Creek; Opera House at Lame Deer; and the Orpheum at Fairhaven. 250 "Peter" Runs Major Cities to Show Picture Simultaneously Week of Dec. 28 — Tie-ups Announced Paramount will release "Peter Pan" the week of Dec. 28 simultaneously in 250 major cities throughout the country. Already plans are under way to carry this out. In the Dec. 27 issue of The Saturday Evening Post, a two page spread in color will list the theaters. The exploitation force will be organized to reach a maximum of effort two weeks before the runs start. A tie-up has been arranged with the manufacturer of Peter Pan Kids Clothes, 26 W. 17th St. serving 5,000 dealers all over the country and with the makers of Peter Pan Dresses, serving 3,000 dealers. The Peter Pan Fountain Pen Co. has agreed to urge co-operation of its 30,000 dealers, including department stores, jewelers, (Continued on Page 2) Deadlocked Operators Fail to Answer T. O. C. C. Uhimatum— Circuits Still Dickering Long past two o'clock yesterday, the time limit set by the T. O. C. C. for final dealings with the operators' union, no word had been received by the exhibitor body relative to the union's intentions. Representatives of the Reel Club, the rival organization of Local No. 306 thronged the T. O. C. C. rooms all during the day, signing contracts for 1924-1925. It was reported that about seventy-five members of 306 had decided to abandon the old organization in favor of the Reel Club. In the meantime, efforts to bring about a settlement of some kind continued, although no apparent progress was made in that direction. It is understood that every important circuit owner, who belongs to the T. O. C. C. has already signed with outside operators and that, at a meeting today, the remainder will be asked to close with the Reel Club. T. O. C. C. members are understood to resent the rejection of their, last offer which called for a three year contract. No increases were to be granted the first year, but the second (Continued on Page 4) Famous Common Drops Sharply Famous common broke sharply yesterday, closing at 79%, a drop of 2j4 points over Tuesday's close. The Evening Post, in commenting on the trend in the stock said: "Further pressure came into Famous Players, and it was Street opinion that earnings might be running a trifle too close to dividend requirements." Prod. Dist. Signs Hoffman (Special to THE FILM DAILY) Los Angeles — Rcnaud Hoffman has been placed under contract by Prod. Dist. Corp. to direct a minimum of four features a year, according to report. No one could be reached at Prod. Dist. Corp. late yesterday for verification of the above. Goldwyn (British) Closing (Special to THE FILM DAILY) London — The London office of Goldwyn. Ltd. closes Saturday. A. George Smith sails on the Olympic Sept. 3 for New York. Signs Vera Reynolds Los .Angeles — \'cra Reynolds has been signed to a long-term contract by Paramount, as a result of her work in "Feet of Clay".