The Film Daily (1934)

THE Saturday, Jan. 6, 1934 JW* DAILY REORGANIZATION PLAN FOR GEN'L THEATERS (Continued from Page 1) daims against the corporation in excess of $20,000,000. To secure this indebtedness there are pledged with ;he bank various securities, including the preferred stock of Film Securities Corp., pledged in connection with a loan of $9,700,000. This preferred stock, according to the Petition, has been or is about to be [rendered valueless by the sale of assets of Film Securities, consisting M 660,900 shares of Loew common Istock which had been pledged to ,5ecure notes of Film Securities, now ;.n default. Under the proposed plan. Chase Bank is 'ro reduce its claim against General Theaters '■>y $5,000,000. The receiver is to consent to the allowance of the claim in the reduced amount, to confirm the pledge with the bank Df the securities now held by it to secure ;the said indebtedness and to release from all :laims which General Theaters or its receive: may have against Chase Bank, the Chase Corp., Chase-Harris-Forbes Corp., Halsey, :3tuart & Co., Pynchon & Co., West & Co., Imd W. S. Hammons & Co., who were associated in certain financing of General Theiters. ' In connection with such proposed agreement, Chase Bank has made an agreement v'th the consolidated protective committee for ten-year 6% convertible gold debentures due April 1, 1940, of General Theaters, the Tiore important features of such proposed igreement being that the bank is to participate in a reorganization of General Theaters, >rovided the details of the plan of reorganizaiion are worked out in a manner satisfactory :o the bank, and to turn over to the reorganized company its secured claims, accomoanied by collateral securing them, in exchange for shares of common stock of the reorganized company, to be issued on the same pro rata basis as to debenture holders and other unsecured creditors. It is also provided that Chase will give to the reorganized company an option to purchase at $15 a share approximately 325,000 shares of rlass A common stock of Fox Film, such Dption to be good for one year, and further to end to the reorganized company a reasonable imount to cover the expenses of reorganiza:ion and working capital. Sammy Cohen Held Up Chicago — Sammy Cohen, film actor, and his wife were robbed of iewelry worth several thousand dolars while in a cab returning home from the Marbro Theater where 3ohen is appearing. Detroit Paramount Dark Again Detroit — After only two weeks of >peration by A. J. Cooper, the Paranount closed suddenly this week. Loew Shifts Kraska Canton, O. — George Kraska, who :ame here several months ago as nanager of Loew's, has been transferred to Loew's Paradise in New fork. Tri-Ergon Trial Set Back Trial of the infringement suit brought by American Tri-Ergon Corp., William Fox Company, against various exhibitors represented by Attorney Louis Nizer has been postponed until Jan. 25 in the Appellate Division, upon request of Attorney David A. Podel, counsel for the plaintiff. ANALYSIS OF MOTION PICTURE CODE By LOUIS NIZER Third Installment ARTICLE II— ADMINISTRATION (Cont.) 3. Rules of Code Authority The Code Authority makes its own rules concerning meetings and procedure. 4. Appointment of Committees (a) The Code Authority may appoint committees to carry out the purposes of the Code. (b) The persons upon such committees may be persons other than members of the Code Authority. (c) The Code Authority may give to any committee any power and authority which it has under the Code. (d) The Code Authority may at any time remove any member from a committee appointed by it. (e) Any action taken by any of the committees must be reviewed by the Code Authority. 5. Gathering Statistics and Investigations (a) 1. Statistics The Code Authority shall collect from members of the Industry, such statistics as are required by the President or which are necessary to effect the purposes of the National Recovery Act. 2. After compiling this data, the Code Authority may give summaries of it to the various members of the Industry without identifying the individual statistics. All this shall be done in such form and such manner as the Code Authority or Administrator shall direct. 3. No statistics or information of one member of the Industry shall be revealed to any other member. But the giving of summaries of such information shall not be considered a violation of this provision. (b) Investigations The Code Authority has the right to make independent investigations of violations of the Code by any branch of the Industry or by any person, firm or corporation engaged in the Industry. 6. Administering the Code (a) The Code Authority assists the Administrator in administering the Provisions of the Code. (b) It assists him in making investigations as to whether the Code is being lived up to. Such investigations may be made at its own instance or on the complaint of any person engaged in the Industry. The Code Authority reports to the Administrator on all such matters. (c) The Code Authority considers recommendations and interpretations including those which refer to trade practices. It may do so of its own volition or upon the recommendations of others. 7. Additional Rules (a) The Code Authority may prescribe additional rules for the conduct of Producers, Distributors and Exhibitors among themselves, with each other and with their employees. Such rules may be made only after notice and hearing to all parties interested. (b) Such new rules must be submitted to the Administrator and if they are approved also by the President after such notice and hearing to all as the President shall think necessary, — they become rules of fair practice for the Industry. Only then do violations of these rules constitute violation of the Code. (To be continued) HOLDOVER RECORD IN B'WAY HOUSES (Continued from Page 1) the Rialto, "Smoky" at the Mayfair, "Lady Killer" at the Strand, "Housa on 56th St." at the Hollywood. "Roman Scandals" at the Rivoli, and the two-a-day "Queen Christina" at the Astor. "Flying Down to Rio," 'Jter two weeks at the Music Hall, moved to the RKO Center to continue its Radio City run. "Emperor Jones" remains a third week in its return engagement at the Criterion. Down at the Acme "Mirages de Paris" is playing a third week. The Palace, usually booking subsequent runs, this week has a first-run, "Bombay Mail." Two other pictures, "Sons of the Desert" and "Fog," are having their metropolitan premiere in Brooklyn houses. Boyle to Film Other Countries John W. Boyle, cameraman who made the feature, "Sweden, Land of the Vikings," now playing at the 55th Street Playhouse, plans to produce similar pictures in color dealing with Italy, Russia and other countries. Boyle is now in New York dickering for national distribution of "Sweden." The Striking Advantages of NATIONAL COPPER COATED HIGH INTENSITY A.C. PROJECTOR CARBONS for the Neighborhood Theatre are Greatly Increased Illumination Snow White Light v^ The new lamps designed specifically for these carbons, available now, include: 12-in. carbons in both holders Dependable arc control Correct feed ratio Properly designed transformer New optical system giving ONE-THIRD MORE LIGHT High Intensity quality and brilliancy in the neighborhood NATION/ theatre at negligible added cost. 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