The Film Daily (1943)

Thursday, July I, 1943 <?$ DAILY Mayer, Rubin, Bernstein, Weingarten to Renew Loew Stockholders to Act July 29; Pacts Run to '46; Three Years More Possible (Continued from Page 1) -Y-v appealed for retention of the Varices of the four executives for o«e good of the company. "I have arranged these extensions in harmony with our policy to obtain and hold the best available men," he said, "for it is my belief that the success of our enterprise is due to the manpower that operates it. It is my personal opinion that the retention of these executives through the renewal of their contracts is in the best interests of the company and the stockholders." New Pacts Expire Aug. 31, 1946 Each of the proposed contracts, which have been recommended by the audit and finance committee of the company and authorized by the board of directors, is for a term expiring Aug. 31, 1946, Schenck informed the stockholders, "with provision for a further extension of three years upon notice by the company and acceptance thereof by the other party." Schenck's statement to the stockholders disclosed that Mayer, managing director of production, had been serving the company without a contract since the expiration of his old agreement on Dec. 31, 1942. "Pending negotiations for a new contract, he has continued to render services, leaving the matter of compensation for future adjustment, Schenck pointed out. The contracts of Bernstein, a vicepresident and treasurer; Rubin, a vice-president and general counsel, and Weingarten, production supervisor, terminate on Dec. 31, 1943. All new contracts have the same expiration date, Aug. 31, 1946. Get Same Pay and Bonus The four executives will receive the same rate of weekly compensation and bonus payment under the new agreements, according to the notice to stockohlders. Mayer has been getting $3,000 per week, plus 3.77 per cent of the combined annual let profits; Bernstein, $2,000, plus L% per cent bonus; Rubin, $2,000, plus a bonus of 1.4 per cent; Weingarten, $3,250, plus a bonus of 35/100ths of one per cent. The proxy statement lists earnngs for the four men for the fiscal rear ended Aug. 31, 1942, as follows: Mayer— $157,500, fixed salary; ;792,265.84, bonus; $949,765.84, toal. Bernstein— $106,000, fixed salary; 175,719.95, bonus; $281,719.95, toal. Rubin— $103,000, fixed salary; 163,836.36, bonus; $269,836.36, toal. Weingarten — $170,625, fixed salary; $41,001.32, bonus; $211,626.32, otal. The notice to stockholders revealed HOLLYWOOD DIGEST SIGNED MISCHA AUER, termer, 20rh-Fox. ASSIGNMENTS JEAN YARBOROUCH, producer-director, "Hi Ya Sailor," Universal. IRVING RAPPER, director, "Rhapsody in Blue," Warners. JACK FIER, producer, "Cyclone Prairie Rangers," Columbia. MARION PARSONNET, screenplay, "The Ghost ot Monte Cristo," Edward Small. DAWN POWELL, screenplay, "Time to Be Born," Edward Small. EDDIE KAY, production manager, "Teen Age," Continetal. ED KULL, cameraman, "Teen Age," Continental. CASTINGS OSCAR LEVANT, "Rhapsody in Blue," WarnersMISCHA AUER, "State Fair," 20th-Fox; JOHN CARRADINE, WALLY BROWN, and ALAN CARNAY, "An American Story," RKO; ALLEN JONES, EVELYN ANKERS and BILLIE BURKE, "You're a Lucky Fellow, Mr. Smith," Universal; DONALD WOODS, "Hi Ya Sailor," Universal; BARRY FITZGERALD, "The Padre," Paramount; HORACE McNALLY, "America," M-G-M; EMMA DUNN and LIONEL ROYCE, "The Cross of Lorraine," M-C-M; JUNE DUPREZ, "Talent School," Jack Schwarz-PRC; VERNELL VERNON, "Tiger Fangs," Jack Schwarz-PRC; THURSTON HALL and RAFAEL STORM, "Footlight Clamour," Columbia; JIMMY DAVIS, "Cyclone Prairie Rangers, "Columbia; LENORE AUBERT, "Up in Arms," Samuel Coldwyn. BETTY HUTTON, "Incendiary Blonde," Paramount; JIMMY DUNDEE, GEORGIA CAINE and ESTHER HOWARD, "Hail the Conquering Hero," Paramount. TITLE SWITCHES "The Cross of Lorraine," formerly "A Thousand Shall Fall," M-G-M. CASTING WITHDRAWALS HENRY WILCOXCN, out of "The Story of Dr. Wassell," Paramount. Cuban Spanish Pix Houses i City-Operated Theater Forced to Slash Scales I Pays Northampton Well Havana (By Air Mail — Passed by Censor) — First-run theaters here, devoted to the release of Spanish product, have been forced to slash their admission scales of 40-50 cents to an all-day level of 29 cents. Step has been taken because these stands realize that without air conditioning equipment, such as serves the socalled luxury houses, it is impossible to compete unless there is a financial-saving inducement. While the action of the houses is one of extremity, it has been taken in good spirit, prompted by the realization that no air conditioning equipment can possibly be available until the war's end, and that the scale-cutting is the price which must be paid for economic survival. Principal houses exhibiting U. S. films here are all equipped with air conditioning units. Northampton, Mass. — Operated under the supervision of its board of trustees for the past six months, the Academy of Music, municipallyowned and operated motion picture theater, has earned a net income of approximately $4,500, it was disclosed here. This sum represents more revenue than the city received from the theater over a combined period of the past five to seven years when it was under private management. Theater will remain open throughout the Summer. Last Buffalo Drive-in Folds Buffalo — Harlem Road Drive-In, has shuttered due to the pleasure driving ban. Stand was the last Drive-In in this territory to hold out against the gas shortage. that Mayer had agreed to waive fixed salary payments for the first four months of this year. The terms of his contract would be effective as of Jan. 1, 1943. Bonuses are to be computed on the basis of net earnings from companies and ventures in which Loew's, Inc., owns an interest of 25 per cent or more and dividends or receipts from all other companies and ventures. Deductions Before Bonuses Under their new contracts for the four executives would not be allowed to share in profits until the following deductions were made from net earnings: 1 — $2,745,744, representing $2 per share on the issued and outstanding common stock of Loew's at Jan. 1, 1943, other than shares issued as a stock dividend. 2 — $2 per year on each share of common thereafter issued for cash or property. 3 — Cumulative dividends on any preferred stock of Loew's (not exceeding seven per cent per annum) and dividends on preferred stock of the companies in which Loew's has a stock interest (to the extent that such preferred stock is held by others than the company). 4 — All taxes, except taxes arising from profits on sale or exchange of property where such profits are not included as income for the benefit of the participant. 5 — Interest on bonds, mortgages and moneys borrowed and amortization of bonuses and expenses in connection therewith and in connection with issues of preferred stock. 6 — All fixed compensation paid but no percentage compensation based on the combined net profits of the company paid or payable to any employe or executive. 7 — Depreciation on the Culver City studio and on all other real and personal property. Saturday Midnight Pix Click in Towns Dallas — Saturday midnight shows instituted by B. R. McLendon in his Texan Tri-States Theaters, headquartering in Atlanta, for a group of very small towns, nine at present, have endured for 11 years, and make one of the three profitable playtimes of the week. Other profitable days are Saturday, with westerns, and Sunday, when "A" pictures are played. This experience has set a pattern which other exhibitors have followed. Booking policy from the beginning has been horrors, murder mysteries, musicals, and suitable "B" releases, all on flat rental. Shows have been sold at prevailing top box-office scales, 25c or 30c, according to the town, without the stimulation of giveaways or other extraneous promotion. Success was gained through consistent booking and careful attention to the cultivation of this show. McLendon has found two facts: rural trade in town for Saturday shopping attend the afternoon or evening show and remain over for the midnight show; and that he gets a patronage for the midnight show that does not attend any other time. This second group he finds to be regular attendants week after week. N. J. Allied Re-elects Loewenstein Prexy '(Continued from Page 1) elected vice-president for the northern New Jersey unit and Ralph Wilkins was elected vice-president for the Southern unit. Dave Mate was reelected secretary; Dave Snaper, treasurer, and Ed Lachman, assistant treasurer, the later, a new post. Morris Spewak was re-elected sergeant at arms. Elected to the board of directors were Basil Zeigler, John Harwan, Morris Spewak, Jacob Unger and named as ex-ofncio members were the following former presidents of the unit: George Gold, Sidney Samuelson, Lee Newbury and Irving Dollinger. Dollinger V.-P. of N. J. Allied's Eastern Unit West End, N. J. — Irving Dollinger was elected vice-president of Allied Eastern regional units at the New Jersey conference yesterday. Dollinger said that because of the many problems now facing the independent exhibitors, he expected to hold regional meetings every six months, transportation permitting. Managing Army Theaters Chicago — Lt. J. E. Petrakovic, formerly with Allied here, is now manager of Army theaters at Camp Ellis.