The Film Daily (1933)

Intimate in Character International in Scope Independent in Thought The Daily Newspaper Of Motion Pictures Now Fifteen Years Old VOL. LXI. NO. <5C NEW yOCr, THURSDAY, A4AECU 2, 1933 * CtNT* Distributors Discuss Action on Bank Holidays TALENTJSJILMS' ONLYJRUE ASSET, SAYS LEVEE Selling of 1933-34 Product Started in Small Towns Fighting . . its way through By JACK ALICOATE IN SPITE of its heartaches and to its everlasting credit this business of providing motion picture entertainment to our millions is keeping its head up and fighting this unparalleled depression surely as well as any other major industry. The quality of pictures, instead of suffering with the times, has become better and better with each new month. Never before, during its brilliant and tempestuous history, has the industry been able to offer the amusement buying public a more select collection of wares. Give a thought to the pictures of the day. Look at the programs of the major producing outfits for the next few months. You'll find that this old industry is fighting and smiling through its tears, regardless of vicissitudes that are steam rolling less courageous industries into impotency. MOW that the first flurry of the receiverships of Paramount and RKO has passed, and the industry can view things sanely and calmly, the feeling is general that receiverships were the most constructive thing possible that could have happened to these two outfits. More receiverships are on the way. Make sure of that. The sooner the business is completely liquidated, the better. Business at the box-office is comparatively good. Were the industry generally on a sane 1933 economic basis, motion pictures, and every branch that goes to make up the ramifications of the industry, would once more be on the road that leads to prosperity. There is still a rather important colored person in the family pile of wood. There is no questioning the fact that production costs must still be drastically lowered. This is imperative. But. Like the weather of Mark Twain, everybody talks about it but nobody ever does anything about it So there we are, but where are we? Salesmen Kill Two Birds on One Trip, Saving Travel Expenses At least two major distributors have started selling 1933-34 product in small mid-western towns as a move to save both time and traveling expenses. Salesmen visiting out-of-the-way communities with limited playing time are doubling up their sales efforts by disposing {Continued on Page 4) HOPE IN nrfURTOF RKO VOICED BYJCA REPORT Hope in revival of the RKO organization is expressed by James G. Harbord and David Sarnoff, chairman and president of RCA, respectively, in the latter's annual report, which shows net loss of $1,133,586 for RCA in 1932, against profit of $768,903 in 1931. Commenting on the receivership status of RKO, in which RCA holds a 64 per cent stock interest, the report says: "It is believed that if the situation which {Continued on Page 4) Schlesinger Closes Deal On Cartoons for 1933-34 Leon Schlesinger yesterday signed contracts with Warner Bros, for release of new series of "Looney {Continued on Page 4) Alabama Tax Bill Loses Birmingham — In a hearing by the House Ways and Means Committee, the Alabama sales tax bill which included a 10 per cent levy on theaters was defeated. Though the measure can be revived by a majority vote of the house, chances of such action are considered remote. MIDWESCO CIRCUIT FILES PETITION IN BANKRUPTCY Milwaukee — Midwesco Theaters, Inc., embracing about 50 houses recently turned back to the Saxe interests for operation, has filed petition in bankruptcy. Liabilities are listed at $1,535,167.34 and assets at $310,173.76. Unsecured claims total $1,436,280, and $3,052 in admission taxes is owed the Government. Bill to End Censorship Is Introduced in Albany Albany — A bill to abolish film censorship in New York State was introduced in the legislature yesterday by Assemblyman Abbott L. Moffat. The measure would repeal the law creating the motion picture division in the Education Department and turn over to the State Tax Department the function of imposing the tax on films. Fees are {Continued on Page 4) Banking Holiday Situation Discussed By Distributors Grauman Specials "Kong"; Coast Premiere at $5.50 Sid Grauman has booked RKO's "Kinjr Kong" for an extended twoa-dav run at the Chinese, Lot \geles, with a $5.50 jrala premiere March 10, it is announced, by N'ed K. Depinet, vice-president in charge of RKO distribution. The picture follows Fox's "Cavalcade." Alarmed at the spread of batik holidays, major distributing com panics are individually holding COB ferences to map out definite policies to cope with the situation, which yesterday extended to V kansns and Tennessee. Rental revenue "i Michigan i iffected by on.' phase of the situation, which {Continued on Page 8) Levee Blames Bankers for Over-Expansion — Quits Academy Board West Coast Bureau of THE FILM DAILY Hollywood — Producers, stars, directors and writers are the only true assets of which the film industry can boast, declares M. C. Levee, former president of the Academy of Motion Picture Arts and Sciences, in a statement coincident with his resignation as a member of the board of directors of the Producers Branch of the Academy, due to pressure of work in connection with {Continued on Page 4) LOEWEARNS $1,219,543 DURING FIRST 20 WEEKS Loew's, Inc., in the first 20 weeks of the current fiscal year, earned $1,219,543 after all charges, federal taxes and preferred dividends, equal to about 83 cents a share on the common stock, it was announced by the board of directors > terday, at which time a quarterly (Continued on Page 8) H. H. Anderson Plans Circuit in Carolina Charlotte, N. C— H. H. Andof Bennettesville, S. ('., plans to open a circuit of about 20 first-run hoo in the Carolinas. The first, the State in Cheraw, S. ('.. is to be opened soon. Another house, for which a campaign for selecting a name is being arranged, will In opined shortly in Camden. S. C. Page Hon. Hucy Long Edwjrd G. Robinion'i not Warner picture will be "The Kinictiih a politic Jl itory by William Rankin No mention it nude J< to whether the title or subject hit jny trillion to J certain voluble Senator ftom Loumini who hji been very much in the limeliKhf jt W.nhmcton. but you can do your own fuelling.