Motion Picture Daily (Jan-Mar 1940)

Thursday, March 7, 1940 Motion Picture Daily 9 Atlas Holding In RKO Fixed At $3,414,311 Hollywood Review Too Many Husbands (Columbia) Hollywood, March 6. — In the vein of his "True Confession" of several seasons back, producer-director Wesley Ruggles here presents a sharpened and modified version of "Enoch Arden," keyed to 1940. With practically all of the film's footage devoted to its three principals, Jean Arthur, Fred MacMurray and Melvyn Douglas, uniformly sparkling performances keep pace with the story. Based on W. Somerset Maugham's play, the screen version by Claude Binyon presents Miss Arthur as the wife of a man believed dead when shipwrecked. She thereupon marries his partner and best friend, only to have husband number one turn out to be very much alive. Adult entertainment in its depiction of the trouble experienced by the wife with "too many husbands" in making up her mind as to which of them she prefers, the film's implication is that either would be equally satisfactory, with the processes of law finally making the decision. Harry Davenport and Dorothy Peterson give fine performances in their roles of the girl's father and the secretary of husband number two, respectively, while the musical direction of M. W. Stoloff is on a par with the lively and amusing story and the actions of its stars. Running time, 80 minutes. "A."* Walter Selden (.Continued from page 1) lists RKO securities in the following amounts: $2,440,626 face amount o£six per cent debentures, 1941, with 3§arket value of $1,238,617 on Dec. 30, last; and 327,812 shares of old RKO common, having a market value of $409,765, on Dec. 30. In addition, the annual report notes that Atlas holds $1,106,000 principal amount of six per cent past due gold notes of RKO, and $1,254,626 principal amount of unsecured claim against RKO, which are carried on the Atlas books together at $784,500. For these notes and claim, Atlas last month reecived 4,810 shares of new RKO $100 preferred stock and 214,409 shares of new common. 541,552 New RKO Shares Through its December underwriting agreement Atlas acquired 249,272 shares of new $1 par RKO common at a cost of $747,816, while an Atlas subsidiary acquired through exercise of subscription rights 77,871 shares of new common at a cost of $233,613. The report thus reveals present holdings of 541,552 shares of new RKO common and 4,810 shares of new preferred, which makes Atlas the largest stockholder in RKO. These holdings may be further augmented by exchange of old RKO securities for new, by exercise of subscription rights and by acceptance of new RKO securities in payment for Atlas's RKO reorganization services in lieu of cash. The report notes that Atlas has made expenditures of $924,067 in the reorganization of RKO and one other company. Discussing the investment policy of Atlas, Floyd B. Odium, president, states in the report that "Direct income is oftentimes intentionally foregone with the expectation of gaining a larger increment and eventual profit." "This policy places only secondary emphasis on the direct income obtained from interest and dividends" ; primary emphasis being placed on seeking protection and betterment of the shareholder's position in terms of asset value of his stock, the report states. Cites War-Inspired Problems _ Odium observes that "the motion picture industry has major problems facing it, including those brought about by wars in various parts of the world which have interfered with the income from abroad." "It is to be hoped, however," he says, "that the foresight and efficiencies needed to solve these problems will eventually place the industry in a position stronger than ever." Net income of Atlas for 1939, before provision for Federal taxes, was $1,234,251. Net assets at the end of the year were $61,053,938, equal to approximately $12.80 per share on the common stock after allowing $50.25 per share on the outstanding preferred. The RKO investment is the second largest in the Atlas portfolio, beingexceeded only by the investment in Utilities Power & Light Corp. *"A" denotes adult classification. U. S. Bares Names Of 550 Witnesses (Continued from page 7) West Greenville; P. C. Osteen, Anderson; H. B. Ram, Aiken. SOUTH DAKOTA Robert Mass, Aberdeen; J. P. Hartman. Aberdeen; Nelson Logan, Mitchell; Richard H. Wagner, Sioux Falls. TENNESSEE E. F. Stein, Jackson; George Denton. Knoxville. TEXAS Jim Golding, Amarillo; Barton McLendon. Atlanta; B. Legg, Denison; I. B. Adelman, Ft. Worth; Sam Archibald, Ft. Worth; C. A. Dickey, Ft. Worth; D. J. Hightower. Ft. Worth; Leon B. Lewis, Ft. Worth: Louis Richker, Ft. Worth; L. C. Tidball. Ft. Worth; Sam Braslau, Galveston; L. M. Threet, Lufkin; B. F. White, Orange; T. W. Lewis, Texarkana; S. G. Fry, Tyler: H. E. Fulgham, Tyler; Rubin Frels, Victoria; George W. Belcher, Wharton; V. E. Hamm, Wichita Falls. UTAH W. Vosco Call, Brigham City. VERMONT Newell B. Kurson, Middlebury; P. S. Murray, Middlebury. VIRGINIA J. F. Falls. Danville; Emanuel J. Stutz. Danville; J. B. Trent, Lynchburg; Robert Levine, Portsmouth; Jeff Hefheimer, Staunton. WASHINGTON J. A. Brandt, Bremerton; Mike Barovich, Puyallup; Loren Wahl, Bollingham; Benjamin F. Shearer, Bremerton; A. T. Dishman. Dishman; W. B. McDonald, Olympia; H. D. McBride, Spokane. WEST VIRGINIA E. R. Custer, Charleston; Riehnold J. Hiehle, Parkersburg. WISCONSIN C. J. Goetz, Beloit; William L. Ainsworth. Fond du Lac; Virginia Den Dooven, Green Bay; George Hannon, Green Bay; J. Zanias. Janesville; Frank Koppelberger. La Crosse; Arthur P. Desameaux, Madison; Steve Dorcey, Mrs. W. Krusienske, Max Krofta and 20th Century Amusement Co.. all of Racine, and August Berkholtz, West Bend. Upholds Pageant Fund Atlantic City, N. J., March 6. — City appropriation of $10,000 to aid the Showmen's Variety Jubilee, which presents the annual beauty pageant here, has been upheld by Supreme Court Justice Joseph B. Perskie. Harry M. Barstow, Jr., taxpayer, argued the appropriation was a gift of city funds to a private organization. Justice Perskie, however, ruled that the organization was non-profit. Real Bargain Columbus, O., March 6.— Real amusement bargains are offered at the Knickerbocker, downtown subsequent run house, which, on Tuesdays, Thursdays and Sundays, plays a stage show in addition to double features, at the regular scale of 10 and 15 cents. Meeting Soon On Six Trade Concessions Probability that Ed Kuykendall, M.P.T.O.A. president, will call a meeting of the organization's executive committee here late this month to discuss with major distributors the proposal to include six trade practice concessions in new season's license agreements, was suggested in exhibitor quarters here yesterday. In local trade opinion, however, it is believed that the M.P.T.O.A. will not take the initiative in pushing its suggestion for an anti-block bookingbill to supplant the Neely bill. It was pointed cut that the M.P.T.O.A. is fundamentally opposed to any form of Government regulation of the industry and advanced its suggestion for an alternative bill only for the industry's consideration and for whatever the suggestion might be worth. If it is to progress beyond that it may with the aid but not at the instigation of M.P.T.O.A., it was said. The proposals for trade concessions by way of new season's contracts, however, will definitely be pressed with distributors either through direct negotiation or by correspondence, it was said. 'Outsider' for Carnegie "The Outsider," Alliance Films' screen version of the Dorothy Brandon play, has been booked to follow "Louise" at the Little Carnegie Playhouse. Suggested by stories by SAX ROHMER HENRY BRANDON** WILLIAM R0YLE ROBERT KELLARD GLORIA FRANKLIN