Motion Picture Daily (Apr-Jun 1950)

FIRST IN FtLM NEWS OL. 67. NO. 75 MOTION PICTURE DAILY NEW YORK, U.S.A., WEDNESDAY, APRIL 19, 1950 TEN CENTS relecasters' Stafe Minimum Wage Unit joss in '49: $24,300,000 ncome, Expenses Were h eater Than in 1948 Washington, April 18. — Telelision networks and stations had igher gross incomes, expenses and isses in 1949 than in 1948, accordg to the Federal Communications ommission. The networks and their 13 TV stations lost §11,800,000 in 1949, while the 84 other TV stations lost S12,500,000, the FCC said. All of the networks and their stations and all but six of the non-network stations reported losses during the year. The FCC said that with 97 stations eporting in 1949, against 50 in 1948, {Continued on page 6) Buys 100,000 Stock Shares Paramount Pictures yesterday reorted that it had purchased more than .10.000 shares of its common stock in ,ie first four-and-a-half trading days luring which the corporation's bid to urchase 500,000 shares at $21 per iare has been outstanding. The purhase involved about $2,100,000. Paramount' s bid was placed on the i Jew York Stock Exchange last hursday, and is subject to withdrawI after May 4, or when the corporaon has acquired 500,000 shares. Is Set Up for Industry At ceremonies held yesterday at the office here of New York State Industrial Commissioner Edward Corsi, nine representatives of the public, management and labor, including Fabian Theatres vice-president Samuel Rosen and IATSE Motion Picture Operators Union executive Michael J. Mungovern, were sworn in as members of a Minimum Wage Board for the amusement industry of the state. The latter two are film industry representatives. Rosen is one of the three management representatives on the board, and Mungovern, a vice-president of the New York State Federation of Labor as well as the head of the Albion, N. Y., projectionists' union, is one of three representatives of labor. The board will be given the task (Continued on page 6) RFC Weighs Loan Bids; Sherman and Bischoff Applicants Washington, April 18. — The Reconstruction Finance Corp. is weighing the granting of loans to independent film producers, but it will be "some little time"— at least several weeks — before it makes any decision, a top RFC official said today. From Hollywood comes confirmation that independent producers Harry Sherman and Sam Bischoff have made applications to the RFC for production NEFC Will Be Rolling in 90 Days: Fabian Board Here Authorizes Officers to 'Go Ahead' (Continued on page 6) Job Finished, O'Shea Leaving Vanguard Daniel T. O'Shea, president of Vanguard Films, Inc. and executive director of the Selznick Studio in Hollywood, has resigned, effective immediately. Contemplation of the step was reported in Motion Picture Daily on Feb. 2. "The reason for my resignation," said O'Shea, "is simply that my job is completed, now that Vanguard has moved its headquarters from Hollywood to New York." O'Shea further said that before formulating any plans (Continued on page 6) balaban and Katz directors Elected Chicago, April 18. — At the annual leeting of Balaban and Katz held here )day the following directors were amed : John Balaban, Elmer C. Upjn, Leonard Goldenson, Robert H. )'Brien and Edward Hyman. Net arnings for 1949 amounted to $10. share. KMTA Convention Set for Oct. 10-11 Kansas City, April 18.— The fall convention of the Kansas-Missouri Theatre Association was set tentatively for October 10-11, in advance of the Theatre Owners of America national convention, at a meeting of the board of directors today. Recent KMTA conventions have followed TO A meetings so that decisions, discussions and speakers might be brought from the national meeting to the area. This procedure is reversed, so that ideas and problems of the area may be taken to the national meeting. Board of directors of the National Exhibitors Film Co. at a meeting here yesterday authorized Si Fabian, president, and other officers to "go ahead as soon as possible" with the company's program of financing independent production, Fabian announced following the meeting. He said the company figures to get underway with actual deals with producers in 60 to 90 days, by which time the conversion of stock pledges into actual purchases by sponsors will have been achieved and other machinery set. Fabian declined to comment for pub(Continued on page 6) British Budget Excludes Theatre Tax Relief; Clears Way for US Pact Talks London, April 18.— Britain's 40 per cent entertainment tax on cinemas will continue without change, it became evident today as Chancellor of the Exchequer Sir Stafford Cripps presented the new government budget to Parliament. The budget leaves the entertainment tax unaltered and, despite the entire industry's intensive campaign to obtain some measure of relief from the tax, the subject was not even mentioned by Cripps in his speech accompanying the submission of the new budget. With the budget now before Parliament, Harold Wilson, president of the Board of Trade, is free to set a date for a meeting with representatives of the American motion picture industry to review the Anglo-U. S. film remittance agreement. Indications are that the meeting will be held about May 15. Towne Decree Most Drastic ' Film company attorneys said here yesterday they consider the Chicago Federal Court decree against the distributors in the Towne Theatre, Milwaukee, anti-trust case as the most drastic in the history of private actions against the companies. The court order calls for divestiture of some theatres by Warner and 20th-Fox in the Milwaukee area, imposes tight distribution injunctions and awarded the plaintiff damages of {Continued on page 6) WarnerPartnerSplit Delay Is Expected A new 30-day extension of the presently-scheduled Friday deadline for Warners to break up its partnership in Atlantic Theatres in New Jersey is indicated here. The company is said to have made considerable progress toward dissolution of the 15 (Continued on page 6) IT'S A PARAMOUNT PICTURE, IT'S THE BEST SHOW IN TOWN! • I F IT'S A PARAMOUNT PICTURE, IT'S THE BEST SHOW IN TOWN ! " zwSS^h IS MOST HILARIOUS CROSBY COMEDY EVER FILMED." f<fl*S'iV{Z&m r1l\Srn —WOMAN'S HOME COMPANION F IT'S A PARAMOUNT PICTURE, IT'S THE BEST SHOW Z o A Paramount Picture PICTURE. IT' rHE BEST SHOW IT'S A , PARAMOUNT PICTURE, IT'S THE BEST SHOW IN TOWN ! • IF IT'S A PARAMOUNT PICTURE, IT'S THE BEST SHOW IN TOWN !