Motion Picture Daily (Jan-Mar 1951)

Motion picture daily Tuesday, January 16, 1951 COMPO {Continued from page 1) the draft of the by-laws amendment, which will make the corporate structure alteration possible, is received at TOA headquarters here. The draft is due to be completed by industry attorneys on or about Jan. 24, which would give the lawyers the 10 days they indicated they would require to put the proposed amendment in proper form. It would appear that TOA's approval, practically a foregone conclusion, will come considerably before that of Allied States Association, whose board is scheduled to vote on the plan at its meeting in Washington Feb. 15-16, and whose individual units will vote on it thereafter. The proposal for the organizational change, understood to have been the handiwork of Abram Myers, Allied general counsel and board chairman, and presented on Friday at the COMPO board meeting here by Nathan Yamins of Allied, obviously stands a much better chance of national Allied approval than did the TOA-sponsored proposal for a comparable change which was approved by the COMPO board last Thursday and abrogated Friday. At-large Membership Uncertainty continues to prevail with respect to the composition of the at-large membership of the executive committee. That committee will consist of the voting membership of the existing executive board plus a maximum of seven representatives from Allied, seven from TOA and seven to be elected at large by the new board. As presented at the board meetinglast Friday, the new plan does not ex clude Allied and TOA from membership in the at-large group, and it is viewed as likely that one or the other, or both, will attempt to make inroads into the group. A provision preventing Allied and TOA from gaining such additional representation on the executive committee could be incorporated in the amendment which is being drafted, however. Whether inclusion of such a provision would be viewed unfavorably by Allied and TOA would remain to be seen. As it is, each of those organizations are assured of eight representatives on the executive committee, which will be the key corporate unit in that unanimous vote will be required to approve any proposal. There are eight other COMPO members, and more are indicated, all of which might earnestly seek representation on the at-large group. Quick Approvals Quick approval of the new COMPO organizational setup is expected of the Society of Independent Motion Picture Producers, the Metropolitan Motion Picture Theatres Association, New York Independent Theatre Owners Association, the Variety Clubs, the trade press committee, the Motion Picture Association of America, Pacific Coast Conference of Independent Theatre Owners and the Motion Picture Industry Council. But these, like TOA and Allied, must await the draft of the amendment. 'Mr. Universe' Opens Columbus, O., Jan. 15.— WorM premiere of Eagle Lion Classics' "Mr. Universe" is scheduled for Wednesday at the RKO Grand here. Vincent Edwards, Ohio State University swimmei who has the title role, is to appear in person at the premiere. DAUflSISNOW IN ROCHESTER f GARY COOPtt *23 ^(steve Report New Combine Planned for Mpls. Minneapolis, Jan. 15. — Formation of a new buying combine for all independent theatres in the Minneapolis areas is reported to be under consideration here. Under the plan existing buying groups would join up with the new set up, it is said. Reported to be prime movers in the new plan are Tom Burke, a former member of Theatre Associates, and Ted Mann, present head of the Independent Theatres Association. The latter was in New York last week conferring with distribution executives. COLOR BY Technicolor* smash by Warner Bros. Services Thursday For Allen Sparrow Funeral services for Allen Sparrow, 52, Loew's Theatres Southern division manager who died of a heart attack Sunday night while visiting Loew's Palace at Memphis, will be held Thursday in Washington at the William Lee and Sons Funeral Home, Loew's reported here. Sparrow was manager of the Strand at Washington from 1919 to 1927 and subsequently managed Loew's theatres in several cities until he became divisional manager in 1942, with headquarters at Atlanta. The widow, a daughter, two sisters and four brothers, one of whom is Boyd Sparrow, manager of Loew's Warfield, San Francisco, survive. Disney (Continued from page 1) to the Disney-Coca Cola Christmas Day telecast and said, "We reached an estimated 20,000,000 viewers with a show that not only highlighted a preview of our next all-cartoon feature, 'Alice in Wonderland,' but also called to the attention of this vast audience that they could see the picture in their favorite theatres this year." Disney said that video is reaching its level as entertainment, but that "we firmly believe that motion pictures are still your best entertainment. As a promotion medium however, television has attained maturity." Marcus Notes Dead Washington, Jan. 15. — Funeral services will be held tomorrow for Marcus Notes, Washington real estate man who once owned five theatres on Ninth Street and at the time of his death still owned the Strand and Roosevelt. Notes, who was 86, died yesterday in Baltimore. He had been in failing health for a year. His son, Isaac Notes, now manages the two theatres. /. Walter Brown, 60 London, Jan. 15. — J.Walter Brown, formerly sales manager for Warners here, died suddenly at the age of 60. Brown had spent 24 years in the in dustry on the sales side, joining Warners in 1933 as assistant general manager. He resigned in 1948 owing to ill-health. Disney Gross of $7,293,849 Highest in Company's History Hollywood, Jan. 15. — The gross income for Walt Disney Productions for the fiscal vear ending Sept. 30, 1950, reached a total of $7,293,849, 28 per cent above the $5,685,055 reported for 1949, and an all-time high for the company, president Roy O. Disney reported today in a letter to stockholders. Consolidated net profit for the 1950 fiscal year was $717,542 which was equal, after providing for dividends on die preferred stock, to $1.06 a share on the 652,840 common shares outstanding. In 1949 there was a loss of $93,899. Disney stated that the principal sources of feature picture revenue in 1950 were "Ichabod and Mr. Toad," first released in October, 1949, and "Cinderella," which began its release in February, 1950. First cash from Treasure Island was not received until after the close of the fiscal year. Net working capital increased from $4,617,543 at Oct. 1, 1949, to $5,247,751 at Sept. 30, 1950, and current bank loans were reduced $2,011,285 during the fiscal year. These improvements in the company's financial condition are due chiefly to the results _ from "Cinderella," which is the highest grossing Disney feature since "Snow White," Disney said. Despite restrictions in many countries, foreign distribution of Disney product is proceeding well, the report said, and good success has been achieved in converting foreign currencies to dollars. Disney blocked funds at Sept. 30, 1950, totaled $480,000 as compared with $450,000 a year ago. Feature product releases in the next two years will include "Alice in Wonderland," in the fall of 1951, to be followed in 1952 by "Robin Hood," an all live action feature to be produced in England. Stars at WB Premiere Miami, Jan. 15. — Ginger Rogers, Ronald Reagan and Steve Cochran have arrived in Miami Beach to make personal appearances at Wednesday night's world premiere of Warners "Storm Warning," at the Beach Theatre. The premiere is being held for the benefit of the Variety Children's Hospital of Greater Miami. Says TV Sets Taxable Boston, Jan. 15. — Massachusetts' Tax Commissioner Henry F. Long has ruled that television sets can be taxed. He explained that the television set is a household furnishing and therefore it comes under the personal property tax, but the television antenna is part of the house and thus it comes under the real estate tax. Para. Stock Buying (Continued from page 1) earlier date that the company may acquire the 500,000 shares. During the period Dec. 22-31, the company purchased for retirement 67.970 shares and contracted to purchase an additional 92,349, the difference between the total of those two figures and the 251,000 shares purchased to date having been bought in the interim. Paramount Pictures had 2,497,665 shares outstanding as of last Dec. 31. Town Theatreless Hamilton, O., Jan. 15.— The Majestic, the only house in nearby Camden, O., operated by Mrs. Louise Siebert, has closed indefinitely.