Motion Picture Daily (Oct-Dec 1941)

8 Motion Picture Daily Thursday. October 2. 194 SEC Reports Large Sale of Para. Bonds, Other Transactions Allied Ponders Its Minn. Law As Circuits Get Films Washington, Oct. 1.— Officers, directors and beneficial holders of securities in seven motion picture corporations had deals in the stocks of their companies in August, it was reported today by the Securities and Exchange Commission in its first of two summaries for that month. Largest transaction reported was the sale by the Manufacturers' Trust Company, New York, of 122,000 Paramount Pictures 1947 convertible debentures, leaving it with 3,202,800 debentures and 5,710 shares of preferred stock at the end of the month. In the same company, Henry Ginsberg, Hollywood officer, reported the purchase of 200 shares of common stock to make his interest 700 shares. Monogram Deals Reported The second heaviest transaction reported was the acquisition by William Hurlbut, Detroit director in Monogram Pictures, of 3,829 shares of common stock through Monogram Pictures of Detroit, which held a total of 8,644 shares of common and 7,141 options for common at the close of August. The Monogram report also showed the acquisition of 2,634 shares of common stock by Trem Carr, Hollywood director, increasing his interest to 22,792 shares and 22,823 options for common ; and the sale of 300 shares of common by Samuel Broidy, Hollywood officer, reducing his holdings to 7,600 shares and 11,129 options, together with the sale of another 500 shares held through Monogram Pictures of Massachusetts. Acquisition of another 83 shares of Loew's Boston Theatres common stock increased the interests of Loew's, Inc., to 118,509 shares. In Loew's, Inc., J. Robert Rubin, New York officer, sold 2,800 shares of common stock, reducing his holdings to 17,715 shares. In Columbia Pictures, Samuel J. Briskin, Hollywood officer, bought 700 shares of common, giving him his first interest in the common. Atlas Buys RKO A report on RKO showed that Atlas Corporation, Jersey City, bought 400 shares of common and a similar amount of preferred, and held, at the end of the month, 822,023 shares of common, 327,812 warrants for common and 46,071 shares of preferred direct, and 268,230 shares of common through the American Company. Preston Davie, New York director in Universal Pictures, bought 50 shares of common stock, giving him a total of 150 shares of common and 50 shares of preferred. A report on the holdings of persons becoming officers of corporations showed that Peyton Gibson, elected an officer of Universal Corporation and Universal Pictures on August 7, held, in the former, 1,400 common voting trust certificates direct and 26,500 certificates and 111.283 warrants for certificates through the Standard Capital Corporation, and, in the latter, 230,927 shares of common, 220 shares of first preferred and 20,000 shares of second preferred through Universal Corporation. (Continued from page 1) decision on the consenting distributors' action for an injunction to halt enforcement of the state anti-decree law. A decision is expected from the St. Paul district court next week. The question was raised at the meeting whether Paramount, RKO and Minnesota Amusement had not violated the state law in the sale and exhibition of the pictures. Officials of the three companies, however, declined to divulge the nature of the deals that have been made, which left Allied in the dark as to the existence of a possible violation. In this connection it was pointed out that Paramount and RKO may sell to their affiliated theatres in any manner they choose, insofar as the consent decree is concerned, leaving open the possibility that they may have been sold the entire new season output of those companies, which would not be a violation of the Minnesota law. RKO Probers to Attend Premiere of 'Heaven' (Continued from page 1) tors Ernest W. MacFarland, Charles W. Tobey and C. Wayland Brooks. Warner executives, press representatives and others will leave here for Washington on a special train today for the premiere, which is to be sponsored by the Advisory Committee of Protestant Clergymen, the announcement states. A number of Washington officials are expected to be present, including Sen. Arthur Capper of Kansas. Those scheduled to be in the New York group are Mr. and Mrs. Harry Warner, Joseph Bernhard, Mort Blumenstock, Mitchell Rawson, Sam Shain, Martin Quigley, Jr., Ralph Budd, John Harkins, Jack Lait, Louis Sobol, John T. McManus, Lee Mortimer, Perc Westmore, Chester Bahn and Maurice Kann. 23d N. Y. Complaint Filed, Award Granted (Continued from page 1) Savoy takes pictures not played by the Ritz. The twenty-third New York complaint was filed by the Rosyl Amusement Corp., operator of the Cameo, Jersey City, on clearance against all five consenting companies. In the case of Loew's, the Cameo seeks product seven instead of 21 days after the Fulton. In the cases of RKO, Paramount and Warners, the Cameo seeks the elimination of seven days clearance over it now granted the Orient. Other adjustments of run also are sought. Oscar Hanson Quits Nathanson Firms (Continued from page 1) dent of the Empire Universal company. N. L. Nathanson resigned as president of Famous Players Canadian last Summer and has been developing the rival Odeon circuit throughout the Dominion. Loew's recently closed with FPC for its new season product. It was known that Odeon had sought a 50-50 split of the M-G-M pictures. has an interest in the Mort H. Singer Orpheum theatres here and in St. Paul. The Singer theatres also are tied up with Minnesota Amusement in a booking deal. M-G-M new season product also is being exhibited here under a threeyear franchise with Minnesota Amusement, which is not affected by the decree or the state law. [That major companies were selling new season product in Minnesota was reported in Motion Picture Daily on Aug. 18.] The Allied meeting also surveyed the product situation in the small towns throughout the state and decided it was not serious. Some "A" theatres in larger towns might be forced to close for lack of product if the situation is not clarified by Nov. I, it was said, but a court decision on the distributors' injunction case is expected before then. Savini Sees Decree As Boon to Astor A business increase of 33^ per cent was recorded by Astor Pictures during the nine months ended Sept. 30 over the corresponding period last year, R. M. Savini, president, states. Savini attributed the increase to the slowness of many theatres in closing new season deals under the consent decree method which, he said, has left increased playing time open for independent product. SWG Postpones Meet To Protest Inquiry Hollywood, Oct. 1— Plans of the Screen Writers Guild for a mass meeting of studio guilds and unions to protest the Senate subcommittee investigation of films has been postponed pending the outcome of Washington developments in which it appears possible that the inquiry may be halted, it was annoui today. MPTOA Committee Meets Wobber Today (Continued from page 1) week by Ed Kuykendall, MPTOA president. Members of the special committee are Max A. Cohen of New York, Lewen Pizor, Philadelphia, and Herman Levy, New Haven. The nature of the complaints from exhibitors has not been specifically described, although in his statement announcing the appointment of the committee Kuykendall said they were numerous and were directed at reallocation and non-delivery of pictures as well as at new season sales policies. Efforts to reach Cohen yesterday for comment on the meeting with Wobber were unsuccessful as he was away from his office for the holiday. Film Audit in 18 Keys Film Audit Service has established branches in 18 "key" cities to date, virtually completing its plan of national organization, Samuel Hacker, general manager, stated yesterday. coast-to-coast