We use Optical Character Recognition (OCR) during our scanning and processing workflow to make the content of each page searchable. You can view the automatically generated text below as well as copy and paste individual pieces of text to quote in your own work.
Text recognition is never 100% accurate. Many parts of the scanned page may not be reflected in the OCR text output, including: images, page layout, certain fonts or handwriting.
go CONCENTRATION OF ECONOMIC POWER In October 1919 Loew's Incorporated was organized and acquired all the outstanding stock of Loew's Theatrical Enterprises. The extent of its theater business has increased gradually since. In 1920 Loew's Inc., entered the production and distribution field by acquiring the outstanding stock of Metro Pictures Corporation. In 1924 Metro merged with Goldwyn Pictures Corporation under the name of Metro-Goldwyn Pictures Corporation. As a result of the merger Loew's became the owner of all of Metro-Goldwyn's common stock. About the same time certain assets of Louis B. Mayer Pic- tures, Inc., were turned over to Metro-Goldwyn. The business of Metro-Goldwyn was subsequently assumed by the Metro-Goldwyn- Mayer Corporation. In December 1937, the Metro-Goldwyn-Mayer Corporation ceased to do business and its production activities were taken over by Loew's Incorporated. Today Loew's operates 24 first-run metropolitan and 98 other theaters and has exchanges in 31 key cities. It produces from 40 to 50 pictures annually and ordinarily distributes each season a substan- tial number of features produced by others for release by it; it produces an average of 36 shorts annually. Its gross assets are approximately $150,000,000, and for the fiscal year ended in 1939 its consolidated gross income was in excess of $100,000,000. TWENTIETH CENTURY-FOX FILM CORPORATION On February 1, 1915, this organization was incorporated under the name of Fox Film Corporation. In August 1925 it acquired about one-third the common stock of West Coast Theatres, Inc., with theaters in California and other Western States. In March 1928 it purchased all the common stock of Wesco Corporation, a holding company for theater operation. In 1933 Wesco went into receivership, but in 1934 readjusted its capital structure, and the Chase National Bank of the City of New York acquired 58 percent of its stock, the Fox Film Corporation retaining 42 percent. In August 1935 the Chase Bank acquired a substantial stock interest in Twentieth-Century Pictures, Inc., a producing and distributing company, and the name was changed to Twentieth Century-Fox Film Corporation. The name of Wesco was changed to National Theatres Corporation. In 1937 the corporation acquired all the common stock of Roxy Theatre, Inc., which owns Roxy in New York. Today Twentieth Centnry-Fox operates 30 first-run metropolitan and 508 other theaters; it has exchanges in 31 key cities. It produces annually from 50 to 60 pictures and distributes a substantial number of features produced by others for release by it; it produces an average of 20 short subjects and 104 news reels annually. Its gross assets are approximately $60,000,000, and for the fiscal year ended in 1939 its consolidated gross income was about $50,000,000. WARNER BROTHERS PICTURES, INC. Warner Bros, was incorporated in 1923 for the purpose of producing, distributing, and exhibiting motion pictures. At the time it had no theaters, but in December 1924 it entered the exhibition field with one theater in Youngstown, Ohio. In 1925 it acquired Vitagraph, Inc.,