Year book of motion pictures (1934)

Reserve for contingencies » 147,990.25 Capital Stock: Preferred — No par value: originally authorized, .100,000 shares; issued, 138, 349 shares, $6.50 cumulative 13,073,980.50 Common — No par value: authorized, 4,000,000 shares, options authorized, 250,000 shares; issued. 1,464.205 shares 36,576,580.64 I Earned surplus 33,700,322.35 $123,697, 591. 35 Contingent Liability as Joint Guarantor »f Mortgages of Affiliated Corporations, $1,756,000. OPERATING STATEMENT, FISCAL YEAR ENDED AUG. 31, 1933 Including All Subsidiary and Affiliated Corporations (After Eliminating Intercompany Items except Film Rentals) Cross Income: Theater receipts, rentals and sales of films and accessories, $80,772,191.32'; rentals of stores and offices, $2,508,609.18; miscellaneous (including discount on bonds and preferred stocks retired from sinking funds, $350,615.37), $1,657,853.21 $84,938,653.71 Expenses: Theater operating, including film rentals. $26,749,984.61; rent on leased properties, $3,530,270.51; real estate and other taxes, $2,223,597.89; other overhead and miscellaneous, $3,357,506.54; film distribution, $9,165,330.87; amortization of films, $24,020,287.29; film advertising accessories, $579,280.15: producers' share of film rentals, $4,371,693.73 73,997,951.59 Operating profit before interest, depreciation and Federal taxes $10,940,702.12 Interest on Debentures, $568,484.32: interest on bonds and mortgages of subsidiaries, $1,114,743.02; interest on bonds and mortgages of affiliated corporations, $635,92'0.55 ; depreciation of buildings and equipment, $3,673,325.54; Federal income taxes, $516,780.49... 6,509.253.92 Net Profit— All Corporations . $4,431,448.20 Minority interests' share, affiliated corporations, $94,268.16; subsidiaries preferred dividends (Metro-Goldwyn, etc.), $302,890.53 397,158.69 Loew's Incorporated Share of Net Profit — All Corporations, after Federal Taxes and Subsidiaries' Preferred Dividends $4,034,289.51 CONSOLIDATED SURPLUS ACCOUNT Balance, Sept. 1, 1932, $33,562,786.95; Loew's Incorporated Share of Net Profit as above, $4,034,289.51 ; dividends from prior years' profits of affiliated corporations, $287,470.39 $37,884,546.85 Less: Dividends paid by Loew's Incorporated: Preferred, $893,405.50; common, $2,925,171.50; dividend declared on Loew's Inc. common stock (pavable Sept. 30, 1933), $365,647.50 ' 4,184,224.50 Balance, Aug. 31, 1933 $33,700,322.35 LOEW'S BOSTON THEATERS (Controlled by Loew's, Inc.} Theaters and Theatrical Enterprises Incorporated May 10, 1917, in Mass. — General Office, Orpheum Building, Boston — Controls Orpheum Theater, State Theater and building and State Ballroom, Boston. Capitalization: Common stock (par $25), $4,000,000 authorized, $3,881,233.33 outstanding. Majority of stock owned by Loew's, Inc. Listed on Boston Stock Exchange. Dividend: 60 cents annually. PRICE RANGE OF STOCK Year 1933 1932 1931 1930 1929 1928 1927 1926 1925 Earned High Low Per Sh. 8 5 $.23 814 7 .64 10 7 .78 12'/2 7ti .83 14 7 .91 15 7% 1.24 10 6 1.24 12'^ 6 .81 13ft HJ4 1.28 BALANCE SHEET, AUG. 31, 1933 Assets Current: Cash, $50,423.62; U. S. Government short term securities and accrued interest thereon, $65,567.93 Investment in State Theater Company: Common stock — S4.954 shares — no par value Fixed (including appraisal adjustment): Land, $1,925,318.33; building and equipment, $2,476,316.97; less — reserve for depreciation, $1,050,184.77; Net fixed Deferred: Taxes and insurance, $51,996.85; discount and expense — first mortgage, $1,020.14; miscellaneous, $266.24 Good-will Liabilities and Capital Current: Accounts payable, $7,438.40; real estate taxes payable Sept. 15, 1933, $46,550; interest accrued on first mortgage, $12,403.12 ; Total current liabilities (excluding mortgage due within one year as below) 891 $115,991.55 1,059,805.08 3,351,450.53 53,283.23 23,535.95 $4,604,066.34 $66,391.52