Motion Picture Daily (Oct-Dec 1956)

Motion Picture Daily Tuesday, November 27, 9! PERSONAL MENTION T^DWARD MOREY, Allied Artists -1— ' vice-president, has returned to New York from Hollywood. Foster M. Blake, Western sales manager for Universal Pictures, will leave New York tomorrow for Los Angeles. Capt. I. R. Maxwell, managing director of Maxwell Film Distributors of England, will arrive in New York from London today via B.O.A.C. • Edward F. Zabel, recently retired executive of National Theatres, has arrived in New York from the Coast. • Tony Reinman, office manager for Columbia Pictures in Cleveland, has resigned that post to rejoin United Artists as head booker there. • Joop Geesink, president of Dollywood Studios of Amsterdam and a coproducer with Transfilm, Inc., will arrive in New York today from Holland. • Otto Lang, director, arrived in New York from the Coast last night for conferences with Cinerama producer Lowell Thomas. • Robert Rossen, writer, left New York yesterday for London via B.O.A.C. Frank King, producer, will leave Hollywood today by plane for New York. Lindsley Parsons, producer, and John H. Burrows, associate, will leave the Coast by plane on Friday for New York. Columbia Sees Income Rising of Drive-i ( Continued the company's net profit was $843,000 or 71 cents per share. This compares with $899,000 and 77 cents per share earned in last year's first fiscal quarter. Schneider said that the profit bef o r e income taxes during the 13 week 195657 first quarter w a s $2,003,000 in comparison to $1,763,000. Estimated Federal, State and foreign income taxes totaled $1,160,000 in comparison to $864,000. The A. Schneider earnings per share are based on the 1,095,411 shares outstanding as of Sept. 29, 1956. "Our earnings for the current fiscal year are hard to estimate, but I am sure that our billings volume will substantially surpass last year's figures," Schneider stated. "We also have hopes that some of our monies, frozen in foreign countries, will be unfrozen so that we can remit them," he said, telling stockholders that Columbia has over $1,000,000 in frozen funds in Japan alone. In discussing Columbia gross business, Schneider, aided by Lacy W. Kastner, president of Columbia Pictures International, said the foreign market contributed $39,000,000 to overall business. The Columbia stockholders reelected the board of directors and all officers. Price Waterhouse & Co. were reelected as company auditors. The Columbia stockholders, of from page 1 ) which 91 per cent were in attendance in person or by proxy, questioned management on a number of matters. One stockholder questioned the $1,700,000 loss on the incompleted production of "Joseph and His Brethren." Schneider informed him that the star, Rita Hayworth, walked off the set, and following litigation, the film was written off as a tax loss. Studying Todd-AO Process Schneider, in reply to another question, said the company's new home office is costing. Columbia $3.50 per foot in rental. Cohn, in reply to another query, said Columbia is studying the Todd-AO process with an eye toward using it in the future. Asked about a spin-off, Cohn said there is a possibility in the future that Columbia may spin-off one of its subsidiaries, such as its real estate organization, Screen Gems, etc. The question arose following a discussion of stock option rights between Schneider and Gerald Rackett, an employee in charge of the general laboratory. The stockholders approved of the new seven-year employment contract of Schneider's calling for issuance of an option for 35,875 shares at $17.76 per share. Also Rackett's stock option grant of 1,000 shares at $19.36 per share was also approved. Cites Higher StockValue Cohn, in reply to another question concerning the depressed book value for Columbia stock, said the "entire business is depressed and that is the reason for it." Schneider said the stock now is selling for eight times its earnings. In 1952, Columbia stock was selling for 15 times its earnings; 1953, 21 times; 1954, eight times; and 1955, six times. J. H. Grainger, 56 NEW ORLEANS, Nov. 26.-John Howard Grainger, 56, assistant manager for Columbia Pictures here since 1944, died Nov. 21 at Baptist Hospital. He had been in the business since 1920, and served with the old Goldwyn company, Metro-GoldwynMayer and Monogram's Southern Exchanges, all in New Orleans. Gina Lollobrigida Due German Heads Drive Gina Lollobrigida will arrive in the United States Sunday to be the guest of honor at the world premiere of "The Most Beautiful Woman In The World," a 20th Century-Fox release, Dec. 7, at the Memorial Theatre, Boston. Petrillo, Walsh Accept Durante Dinner Posts James C. Petrillo, president of the American Federation of Musicians, and Richard F. Walsh, president of the International Alliance of Theatrical and Stage Employees, will serve as co-chairmen of the Labor Committee for the Entertainment Industry Tribute to Jimmy Durante, it was announced by Harry Brandt, chairman of the coordinating committee. W. J. German of W. J. German, Inc., has been appointed chairman of the Motion Pictures Division of the 1957 National Foundation for Infantile Paralysis campaign, it was announced by Harris A. Dunn, general chairman of the drive. Mexican-Hungarian Pact Reported in the Making MEXICO CITY, Nov. 26.-A cinematographic pact between Mexico and Hungary is in the making, according to trade figures here. Congressman Jorge Ferritis, chairman of the National Cinematographic Board, reportedly has been talking with an unnamed representative of the Hungarian film industry. The local trade understands that if the deal is consummated, it will be patterned after the recent FrancoMexican co-production program. 'King* to May fair United Artists' "The King and Four Queens," a Western drama starring Clark Gable and Eleanor Parker, will have its premiere performance on Dec. 21 at the Mayfair Theatre here. Oppose Conn. Drive-] ■In Erwin Neumann's plans to bif outdoor theatre at Dayville Fou ners, Conn., have hit oppc voiced by voters of neigh towns, who have submitted a tion, citing traffic hazards and arguments. Under Connecticul Police ruling, any persons ob to an outdoor theatre projec voice arguments at a Hartford ing. No hearing has been set on the Neumann Theatre. ® Install 750 In-Car Heater The Bluemound Drive-in T] Milwaukee, owned by Smith M ment Co., has installed 750 R( car heaters. There is a ten cen ice charge to patrons. ® New Operation for Schlai Claude Schlanger, who alrea< erates a drive-in near Down; Pa., is taking over operation o old Hirshberg's drive-in at Beth Pa. He is the son of Ted Sch Philadelphia zone chief for J Warner Theatres, and operat drive-ins independently. ® Adds New Concessions Louis Ratener has contract construction of a new $50,00 cession building for his M Drive-in, near Akron, Ohio, has started and will be comple the end of the month. NEW YORK THEAl — RADIO CITY MUSIC HA! Rockefeller Center GARY COOPER "FRIENDLY PERSUAS1QS Color by De Luxe An Allied Artists Picture and SPECTACULAR STAGE PRESENT* i 1 FILM SERVICE CENT |» • EDITING ROOMS • STORAGE ROOMS • SHIPPING ROOMS • OFFICES PROJECTION ROOM FACIU MOVIE LAB BUILE 619 W. 54th St., New Yo JUdson 6-0367 MOTION PICTURE DAILY, Martin Quigley, Editor-in-Chief and Publisher; Sherwin Kane, Editor; James D. 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