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24 MONEY BEHIND THE SCREEN
Metropolis and Bradford Trust was registered as a private company in 1929 (having been formed as a public company in February, 1928), with an authorised capital of £422,500 in 10,000 "A" £1 shares (voting) and 1,000,000 " B " 8s. 3d. nonvoting shares. The whole capital was issued by January, 1936, and there were no mortgages or charges outstanding. Its four directors are : —
S. R. Kent (President Twentieth Century Fox).
J. M. Wallace (Vice-President Chase National Bank, London branch).
Mark Ostrer (Chairman).
Maurice Ostrer.
The shares are owned as follows : —
'* A " shares (Voting). 3,100 by Isidore Ostrer.
4,700 by Twentieth Century Fox. 100 by W. J. Hutchinson (Manager, Twentieth Century
Fox). 60 by S. R. Kent (President, Twentieth Century Fox). 50 by R. B. McDonald (solicitor, Twentieth Century Fox). *' B " shares 750,000 by United American Investment Corporation (for
(non-Voting). Twentieth Century Fox).
250,000 by John Maxwell on behalf of Associated British Picture Corporation Ltd. (acquired in October, 1936, from Isidore, Mark and Maurice Ostrer).
According to the Financial Times of 21st October, 1936, the price paid by Associated British Picture Corporation Ltd for these non-voting shares was £350,000 in cash and an allotment of 300,000 ordinary 5s. Associated British Picture Corporation Ltd shares, or a total of £618,125 at the market value of the latter. The price for the 5,100 voting shares to be acquired later (though at the present time the right to transfer these latter shares is contested by 20th Century-Fox) is understood to be £800,000. The share of the Ostrers, if the deal is completed, would therefore be £1,418,125, or £1 188. lid. per Gaumont-British share controlled by them, as compared with a market value (21st October, 1936), of the latter of 16s. 9d.
25. The OaumontBritish Picture Corporation Ltd. board consists of the following members : —
Isidore Ostrer (President).
Mark Ostrer (Chairman and Managing).
Maurice Ostrer (Assistant Managing).
S. R. Kent.
Dixon Broadman.
0. H. C. Balfour. J. Maxwell.
Col. H. A. Micklem. C. H. Dade.
1. P. Little