The Film Mercury (1926-27)

Page Eighteen THE FILM MERCURY, FRIDAY, AUGUST 5, 1927 Hollywood, Calif. The Low-down On Loew Loew’s owns or controls a total of about 150 theatres, of I which approximately 100 are owned outright subject to j mortgages. The strongest point of the system is that 82 j houses are concentrated in or near Greater New York which f is the most profitable amusement center in the world. | Population is unusually dense and there is no Sunday closing 1 law in all of this district, adding greatly to weekly ad I missions. All of the theatres are large and of modern construction j and there is no dead wood in the shape of small antiquated j theatres that must be replaced by newer buildings to meet 5 the modern trend toward larger houses. i The building program now under way, comprising 20 1 large theatres, will be mainly completed this year. This will I add between 50,000 and 60,000 seats to the capacity of the j system. The new houses will be located at Evansville, | Akron, Columbus and Canton, O., Pittsburgh, Pa., Kansas ! j City, Mo., Richmond, Va., Providence, R. I., Houston, j j Tex., Syracuse, N. Y., New Rochelle, Yonkers, Fordham, | f N. Y., Ninth Street, Brooklyn, 86th Street, New York, and I | Stamford, Conn. Seven of these theatres are in the I ! Metropolitan area. The following table shows the growth of the company in [ j the last four years: 1 1926 1925 1924 1923 I i I Net earn. i 1 i $ 6,388,200 $ 4,708,631 $2,849,052 $2,415,488 I $ share f i $6.02 $4.43 $2.58 $2.27 i 1 Property i I 34,291,146 25,846,404 18,841,967 16,580,185 i I P. bond sub. i i I I 16,011,600 1 1,477,875 9,216,378 7,965,333 i l Investments I i 14,644,934 10,590,392 6,296,682 3,739,138 1 I Cash j I 6,507,042 1,547,585 2,139,896 808,362 i 1 Acct. pay. ! T i 2,521,607 3,318,520 4,040,172 1,152,395 1 i Loew’s has a book value for its 1,060,780 shares of com i T mon of better than $35 a share. In 1925 six pieces of l s property were reappraised and written up sufficiently to wipe | j off $10,977,083 good will item, but there has been no other j j revaluation of property although a large proportion of the ! j holdings have been owned for over five years. Generous j j depreciation reserves have been set up every year and of = j course in most instances there has been substantial increase ! i in value. I The outstanding feature of the table above is the notable j I increase in profits. Cash position is also strong and there j j are no important obligations outstanding beyond the debt ! J consisting of mortgages on real estate amounting to $16,01 1, j j 600 and the $14,500,000 6 per cent debenture bonds sold to ! j finance expansion in 1926. I + ■ I + Roxy’s Contribution To Aviators Washington — Check for $31,186, the amount raised at a benefit performance at the Roxy, New York, has been presented to the French ambassador to be divided between the mothers of Charles Nungesser and Francois Coli, missing airmen. Col. Wyman Quits Bureau Col. O. C. Wyman has resigned his post in connection with the Central Casting Bureau. No successor has as yet been named, but it is believed that Dave Allen will in future assume Wyman’s duties as well as his own, if no outside opposition is made in regard to such a move. % % ' % \ % % % % % % % % % % % % % % s % % % % % % % % \ % % % % % % % \ WRITERS The Film Mercury wishes to make its forthcoming Writers’ Number as comprehensive as possible in regards to information concerning Continuity Writers, Original Scenarists, Title Writers and those engaged in any other branch of the writing profession. The Writers’ Number Will Be Out Soon Please fill out immediately the information blank below, so that The Film Mercury may have full details cencerning yourself and your recent work. There is absolutely no charge or obligation of any kind in connection with the printing of this data. The Film Mercury’s idea is to have its Writers’ Number which is to be a yearly institution, a valuable, informative encyclopedia for the benefit of the entire industry. Name Address Present Affiliation Recent Film Work Biographical Data * & % % (Birthplace, Education, Experience, Etc.)