Motion Picture Daily (Jan-Mar 1934)

b MOTION PICTURE DAILY Friday, March 23, 19! Stock Values Show Drop of $17,000,000 (Continued from page 1) the report had a net worth of $217,057,000 on Jan. 1, 1932, and of $200,154,000 a year later. Net worth includes the book value of outstanding preferred and common stock and surplus account at the beginning of each year. "Drastic writing down of shareholders' equities, combined with operating deficits and the payment of dividends in excess of earnings," the report says, "has decreased the aggregate net worth of companies materially. Today the book net worth of many going companies is less than half that of the year 1929." The amusement companies reported deficits of $2,686,000 on Jan. 1, 1932, and deficits of $1,252,000 a year later. The report, which covers 37 different industrial groups, reveals a decided trend toward improved earnings and decreased deficits in all but six groups. Eleven groups, which showed a profit in 1932, increased their profits in 1933; 12 groups swung from deficits to profits and eight groups decreased their deficits ; five showed decreased profits and one a deficit, the report reveals. House Sets Debate On Tariff Measure Washington, March 22. — The House of Representatives is preparing to get down to serious debate on tariff legislation with the hope of passing it along to the Senate next week. The measure, asked for by the President in a recent message, anthorized him to undertake the negotiation of reciprocal trade agreements with other governments and permits him to make changes in duties where such action is desirable to secure concessions on American products in other countries. The legislation is of importance to the film industry, since the President, in negotiating with European countries, is expected to ask for a lowering of the barriers now erected against American pictures. To Help Cut Extras Hollywood, March 22. — M. H. Hoffman, B. B. Kahane, J. Buckley Russell and Allan Garcia have joined Mrs. Mabel Kinney, Larry Steers and Philip Friedman on the committee organized to work out a plan of reregistration and classification of extras in accordance with code requirements. They meet Monday night to decide the best means of cutting the present extra registration of 17,000 down to 5,000. Ohio Managers Shifted Canton, O., March 22. — J. Knox Strachan, manager of Warners' Alhambra. has been transferred to Portsmouth as manager of the LeRoy and Columbia. Wallace Elliott comes here from Sandusky to succeed him. Dick Cruciger succeeds Elliott at the Ohio in Sandusky. Indies Here Given Warning on Eagles (Continued from page 1) The warning was issued by Straus following a meeting yesterday at the NRA Regional Labor Board at which 25 persons employed by leading independent circuits charged that they were worked from 50 to 84 hours weekly, in some instances for 14 cents an hour. Manhattan Playhouses will lose its Blue Eagle, Straus said, unless two discharged employes are reinstated within 24 hours as directed recently by Ben Golden of the Regional Labor Board. The employes, both ushers, are alleged to have been discharged for union activities. Straus said that his department would send its own investigators into independent circuits throughout the city to make a careful check of their own on prevailing hours and wages in individual houses. Ben Bartlett, director of the N. Y. State Labor Compliance Board, also attended yesterday's meeting. Compliance Will Be Grievance Function At the request of the NRA, Code Authority is taking steps to take over the functions of regional compliance boards and add the work of these boards to the duties of the 31 local grievance groups. The purpose is to have the industry work out its own problems and create a better understanding among conflicting interests. Nathan Yamins, J. Robert Rubin and Leslie E. Thompson have been named to a committee to compile a manual on instructions on this subject. Mason Refuses Post With Chicago Board Chicago. March 22. — Lowell B. Mason resigned today as impartial member of the Chicago grievance board. His resignation was announced in a telegram to Jack Miller, head of the Exhibitors' Ass'n. of Chicago. His appointment as general counsel of the National Recovery Review Board was given as the reason for his action. Fire Rules Adopted Rules governing exchanges on fire ordinances, as outlined by the National Fire Protective Ass'n, have been adopted by Code Authority and details will be sent to all branch offices shortly. The rules were prepared bv a committee comprising W. Ray Tohnston, George T. Schaefer and Felix F. Feist with the assistance of Arthur W. Dickinson of the Hays organization. Expect 8,000 Assents About 8.000 unqualified assents will be tallied after duplications are weeded out, Code Authority figures. The figure will vary from time to time because of the 45-dav provision allotted to newcomeVs in the business. Rosenblatt at SMPE Division Administrator Sol A. Rosenblatt will be among the speakers at the banquet to be held in conjunction with the semi-annual meeting of the S.M.P.E. in Atlantic City, April 23-26. Shifts Await Code Boards In Five Cities (Continued from page 1) arate clearance and zoning and three individual grievance boards, recommendations have been made to have one enlarged board to handle problems in the three local selling divisions. There are 43 zones to be taken care of in the Greater New York area, which, it is said, cannot be handled by a single board as provided for in the code. Because some of the members already set on Boston boards lacked certain qualifications, shifts will be made today in the listings. In Minneapolis the two impartial men have not been named, and since unqualified assents have not been received from Fred V. Holzafel, Jack Hay ward and Joseph Friedman, Allied men. replacements will have to be made. In Portland George Jackson and William Cutts, subsequent run exhibitors on the clearance and zoning board, are found to be of the same company and one will have to be replaced. Phila. Grievance Completed While the grievance board for Philadelphia was completed, the clearance and zoning board is still up in the air. The grievance board is as renorted in Motion Picture Daily on February 9. except for the impartial member, who is Col. Harry Salter. The board chosen consists of F. L. McNamee, Radio ; M. S. Landau, Universal ; M. E. Comerford. Comerford circuit : Lewen Pizor, head of the M. P. T. O. of Eastern Pennsylvania. Southern New Jersey and Delaware. The grievance selections for New York are reported set, but the other board isn't. The final makeup nf these boards "•ill be announced March 29. when Harold S. Bareford will be chairman of the meeting. Attending vesterdav's session were R. Kent. Charles "L. O'Reillv. Ed ^uvkendall. W. Ray Tohnston and R. H. Cochrane. Alternates were L. F. Thomnson for M. H. Avles'«orth T. Robert Rubin for N'^holas M. Schenck. Bareford for H. M Warner, and Max L. Levenson of Boston for Nathan Yamins. Impartial M*»n Not Named Although it was expected Division Administrator Sol A. Rosenblatt would name impartial members for Minneapolis. New York and Philadelphia, no such announcement was forthcoming. It was stated no change* in the personnel of any board will be made unless members are not 100 oer cent qualified. No further switches are expected following the completion of the remaining five boards. Campi stated. No action was taken on the actorvaudeville-labor renort. The free radio shows situation remains unchanged, and the committee making a survey of the Hollvwood emoloyment status in connection with President Roosevelt's request for a 30hour week and increased wages had nothing to report, according to Campi. Revive Plan To Cut Down K. C. House (Continued from page \) the idea to the I. T. O. and, if a proved, the cooperation of Fox Mi west will be sought. The idea is not new. Fult originally sprang it about two yea ago and obtained the support of the i dependents' organization, of which was an official at that time. J Means, I. T. O. president, sought obtain the participation of Fox Mi west, but the circuit refused. Fult estimates that in the last two years dozen neighborhoods now operati and contributing to the present c plorable condition could have been i quired, dismantled and put out commission as theatres, or remodel and converted into storerooms. I says $5,000 would have been sufficu for the purpose, the exhibitors supp' ing the funds. There are fewer theatres w available for the project, but t situation is such that more seats add to the approximately 50 neighb( hoods in greater Kansas City woi be ruinous, and reduction of seati capacity is imperative, according Fulton. He has one house in mi which is certain to be reopened as dime show unless steps are imme< ately taken to thwart it, he says. "If the plan had gone throu originally, Kansas City exhibitc would not have sunk to the pres< level of double billing, 10-cent adm sions and giveaways, and would ha made more by improved busini than the whole project would ha cost," he declares. MPTO Approves Board Washington, March 22. — T local M. P. T. O. has notified Cc Authority of its unanimous appro1 of the boards for this territory. 1 unit also expressed confidence in t authority and operation of the lo< boards. Nat B. Browne, secretary the exhibitor organization, signed ( letter. NRA Board Calls Rem Walter Reade has been requested appear before the local NRA regioi labor board in connection with alles violations of the code. Reade, w operates the Mayfair, is said to distributing two-for-one "courte; passes. No date for the appearat has been arranged. Finances Up Monday S. R. Kent, Harold S. Barefo Charles L. O'Reilly and Nathan 1 mins, the committee on financing Cc Authority, will meet on Monday discuss the budget. Yamins is Pinehurst and Max Levenson of B' ton was his alternate yesterday. Two Weeks for "Riptid After it had been viewed by M-Ghome office executives yesterd "Riptide" was booked for a two-vv< engagement at the Capitol, starti next Friday.