The Film Daily (1948)

: O IVdAILY Tuesday, February 24, 194 Odium Sees RKO Net Rising Substantially (Continued from Page 1) in force at the end of the year," Odium wrote in the annual report of Atlas. "Economies -have been instituted in all branches of that company's business which should approximately offset the loss of all foreign revenues, even if that should happen." Odium noted that during 1947 the British authorities imposed a tax which in effect amounts to 75 per cent of the proceeds heretofore remittable to the United States on the exhibition of all American films in Great Britain while other countries also have imposed restrictions. "This threat of loss of a substantial portion of the industry's foreign dollar revenues, coupled with the concurrent realization that cost of film production has reached a new high," he said, "caused a rather sharp decline in the market value of stocks of motion picture companies." List Over 500 Free 16 mm. Films in State Directory Albany — A directory listing more 500 16mm. films available for free use by schools, civic, educational, service clubs and other groups has been published by the New York State Department of Commerce. Directory, titled the Film Library Catalogue, lists films under 25 headings relating to recreation, agriculture, industry, education, economics, safety, vocational guidance, employee relations and other subjects. Catalogue is available without cost from the Film Library, Department of Commerce, 40 Howard St. NFS Services E-L in Chi. Chicago — National Film Service, Inc., has taken over the film inspection, shipping and storage chores for Eagle Lion Films here. Chris Chinn has been named manager for this National exchange. Mayer Confirms His Purchase of Rivoli West Coast Bur., THE FILM DAILY Hollywood — Louis B. Mayer confirmed af the week-end that he has purchased the Rivoli Theater in New York as a personal investment. Deal, he said, had nothing to do with M-G-M, and was made in the interests of his eventual retirement. One of the earliest deluxe film houses in New York, Rivoli Theater was opened Dec. 28, 1917. Property occupies frontage on Broadway running through to Seventh Ave., between 49th and 50th Sts. Assessed valuation is $1,450,000, of which $1,270,000 is on the land. Under long-term lease to United Artists Theaters, house has been operated as a Skouras unit. Johnston Proposes Peace Production Board to Facilitate Private Production Loans Abroad Washington Bureau of THE FILM DAILY Washington — Establishment of a Peace Production Board within the framework of the Marshall Plan was proposed Saturday night by Eric A. Johnston, MPAA president, as a means of facilitating private production loans abroad by American banks. Speaking at a dinner of the Washington Chapter of the American Institute of Banking, Johnston suggested the Peace Production Board, similar to the wartime War Production Board, to pass on worthy private investments abroad. Under the plan, the lending bank in this country would assume five per cent of any loss, the borrowing bank abroad another five per cent, with the 90 per cent remainder guaranteed by the U. S. Government as in the days of war production. Atlas RKO Issues Off Sharply $5,359,807 Drop in Value During 1947 RKO Corp. securities held by Atlas Corp. dropped in value to the amount of $5,359,807 during 1947, the investment company's annual report sent to the stockholders by President Floyd B. Odium disclosed at the week-end. Atlas on Dec. 31, 1946 held 929,020 shares of RKO common, worth $14,399,810, based on market quotations, plus 327,812 RKO option warrants, valued at $1,680,036. Atlas holdings in RKO were unchanged during 1947, but on Dec. 31 last, the common stock had dropped in value to $7,664,415 and the options to $655,624. (Pre-deal "conversations" and "negotiations" for the purchase of the Atlas holdings in RKO have been reported for a matter of months. N. Peter Rathvon, Howard Hughes and Robert R. Young have been named as possible buyers, either on their own or for groups. The Odium report to the stockholders is silent on this aspect). "The decrease during the year un der review of the market value of your company's holdings of securities of motion picture companies," Odium stated, "including particularly the large special holding of stock of RKO Corp. accounted for practically the entire decrease in asset value of the stock of your company, after taking into account dividends paid." Comparison of the Atlas portfolios as of Dec. 31, 1946 and the same day in 1947 discloses that during the year the investment trust shaved its holdings of Paramount common from 93,000, valued at $3,022,500, to 70,500 shares worth $1,515,750. On Dec. 31, 1946, the company owned 308,500 shares of Walt Disney Prods. Series "A" 4 per cent 1960, valued at $256,055. On Dec. 31 last, the same holdings were worth $231,375. On Dec. 31, 1946, it held 91,700 shares of Walt Disney common, valued at $412,650. On Dec. 31 last, the stock was down in value to $275,100. During 1947, Atlas disposed of 2,000 shares of Loew's common which on Dec. 31, 1946 had been carried at $51,250. Switch Title of "Lured' To "Personal Column' After a series of experimental showings, UA and Producer Hunt Stromberg have decided to change the title of "Lured," the Lucille BallGeorge Sanders starrer, to "Personal Column." "Girl Wanted," another title tested, did not do so well at the box office as did "Personal Column." Change in title is effective Mar. 1, while National Screen Service is completing the requirements on trailers and other accessories. Louis de Rochemont Here For 'Digest' Co-op Talks Louis De Rochemont has arrived in New York to begin his assignment as roving producer for M-G-M. Here to confer with the editors of Readers Digest on a possible cooperative venture, De Rochemont has already set plans for the picturization of W. L. White's "Lost Boundaries," which appeared in that magazine recently. IT&T Reorganization Plan Is Approved by Referee Referee Irwin Kurtz on Friday approved an amended reorganization plan for Film-Tel, Inc. and International Theatrical and Television Corp., under which George Hirliman of IT&T will operate the business. Assets and debts of Film-Tel are taken over by the other company. Plan includes protection for security holders and provision that laboratories owed money bv the companies will be paid off within 12 months. Unsecured creditors are represented by a creditors' committee, which will report back to Kurtz in the event of any dispute with management. CBS Turned Down on Telecolor West Coast Bureau of THE FILM DAILY Hollywood — U. S. Court of Customs and Patent Appeals has turned down two applications by Columbia Broadcasting; System to register the word Telecolor as a trade mark for radio and television apparatus, according to Dr. Herbert T. Kalmus, president of Technicolor, which opposed the applications. Market's Adv. for Free Pix Irks Exhibs. Trenton — Prime impetus in arouB ing the opposition of the Allied Th ater Owners of New Jersey to t) growing problem of 16 mm. comp . tition was the following at. ,ti£i v. ment which was inserted rec^i8-iy the Trenton Times by a self-servi market: "Sound Movies For The Childre Thursday 5 P.M. to 8 P.M.; Frids 6 P.M. to 9 P.M.; Saturday, 9 A.: to 4 P.M. "No foolin'! Free movies for ti children light here in our store! TI children will love it! And so w^ i you enjoy the thrill of shopping f values . . . when you can turn yo>r children over to Russell's Childrei* Guide . . . who will care for them )ld our carefully selected sound pictm show! Yes, this will certainly ma'1 shopping a pleasure for you . and a thrill for your children!" Exhibitors here point out that t , schedule of showings, directed as does at the children's patrona; would virtually kill the kiddie sho , , of regular theaters. FCC Gives Theater Tele Temporary Frequency Sic '.'. (Continued from Page 1) ing that its requirements "are s not sufficiently clear to indicate i>» need for a specific allocation for vU exclusive use at this time." F contended that functions required au theater video should be handled V* stations "authorized to operate frequencies allocated to the use i communications common carriers : In the meantime, the FCC ;rr nounced the temporary assignrm . of three high-frequency bands u tele pickups, studio transmitter lii-..'. and inter-city video relay. In answer to arguments of ten, vision interests for frequency alio tion for private inter-city relay, Commission revealed that means vMh still wanting for service to distri1'" not being served by common carru^ coaxial cable or microwave tra mitter systems. Therefore, the F felt that inter-city tele relaying handled by communications comn carriers until adequate facilities ^ be available. : STORKS Omaha — An eight-pound 10-ou boy, Joel Irwin, was born to IV Gene Rich. Father is a former G-M exploiteer and now head of hibitors' Printing Service. Joseph C. Goltz, assistant to Irv Maas, MPEA topper, has a new s born to Mrs. Goltz last Thursday Women's Hospital here. Nine-po youngster is the third child and s ond boy. fi Z*ok ma 'pox *an VYdK