Motion Picture Daily (Jan-Mar 1957)

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MOTION PICTURE DAILY )L. 81, NO. 55 NEW YORK, U.S.A., THURSDAY, MARCH 21, 1957 TEN CENTS argest Holder tack Warner |fuys 95,000 hares of W.B. >ld by Allen & Co. Which Retaining 50,000 Shares ick L. Warner Jack L. Warner, president of WarBros., informed a regular meeting the company's board of directors here yesterday that he has purchased 95,000 shares of Warner stock from Allen & Co., investment bankers. Allen & Co., which is headed by Charles Allen, Jr., one of the key figures in the group headed by Serge Senenko, senior vice-president of the (Continued on page 2) jf Deal for Denmark rovincial Theatres Old American motion pictures will released to provincial theatres in nmark at a 30 per cent film rental, ividing that the theatres buy new 5. films under the new film agreent starting next Jan. 1, it was :ided upon by the board of direcs of the Motion Picture Export Asiation this week. The MPEA board agreed that old iduct would be released to Danish (Continued on page 2) &A Hears TOA Plea o Revise Loan Policy From THE DAILY Bureau WASHINGTON, March 20-Small siness Administration officials today ik under advisement an exhibitor fa for a more liberal SBA loan licy to theatres. The plea was presented by Philip Harling and A. Julian Brylawski behalf of the Theatre Owners of (Continued on page 3) IndustryFund Edict Apr. 8 The board of directors of the Motion Picture Association of America, at their annual meeting here on April 8, will decide what is to be done on financing the industry business building program and the proposal presented for such financing by Ernest G. Stellings, president of Theatre Owners of America. This action will be taken following the presentation of a report from the MPAA business building coordinating committee, chairmaned by Spyros P. Skouras, president of 20th Century-Fox. According to an official of the MPAA, the coordinating committee, which met yesterday morning at 20thFox, "took favorable action on the business building report." Roger H. Lewis, chairman of the MPAA ad(Continued on page 4) Survey by COMPO Reveals: Admission-Tax Total $23,000,000 Yearly Coyne Warns Exhibitors Without Local Imposts 'Pressures Are Increasing' State and local admission taxes now take a toll of approximately $23,000,000 annually from the motion picture theatre. Of the 48 states, 23 plus the territories of Hawaii and Puerto Rico levy admission taxes or sales or gross receipts taxes 1,600,000 UA Shares Gordon, Kirsch Speak At NCA Meet April 2 Special to THE DAILY MINNEAPOLIS, March 20.-Julius Gordon, president of Allied States Association, and Jack Kirsch, president of Allied of Illinois, will be the principal speakers at the annual convention of North Central Allied which opens a two-day session here at Hotel Nicollet Tuesday, April 2, Stanley Kane, executive counsel, has announced. The membership will be asked to (Continued on page 4) The new United Artists Corp. stock, which will be offered publicly next month by a group of underwriters headed by F. Eberstadt & Co., consists of 1,600,000 common shares authorized, according to Wall Street reports. Of this amount, 350,000 common shares will be offered for sale in the market and an undisclosed number, sufficient to permit the present UA management to retain control, will be held by them. The balance of the authorized stock will be held in the company treasury for future issuing. UA on Tuesday signed an underwriting agreement with F. Eberstadt & Co. covering a proposed $10,000,000 offering of six per cent convertible (Continued on page 4) which are applicable to theatre admissions, and 491 cities, towns and school districts have specific loc a 1 admissiorr taxes. These are the salient facts in an extensive study of local taxation conducted by COMPO during the last year, suits of which were published yesterday. In connection with publication of (Continued on page 5) Robert W. Coyne the re EDITORIAL Jack Warner's Investment — ^ By Sherwin Kane WHEN Jack L. Warner reported to his board of directors yesterday that he had purchased an additional 95,000 shares of the company's stock he obviously offered the most convincing evidence at hand of the sincerity of his belief in the future of his company and of the industry of which it is such an important part. The transaction represented an investment of what must be an additional $2,500,000 or thereabouts of Warner's personal funds in the company which he heads as president. It increases his holdings to about 235,000 shares; his personal investment to around $7,000,000, and makes him the largest stockholder in Warner Bros. Pictures, Inc. Of equal significance is the fact that the seller, the highly regarded (Continued on page 2) Kansas House Kills Bill To End Film Controls Special to THE DAILY KANSAS CITY, Kans., March 20. —The Kansas House of Representatives today killed on a final roll call vote a bill calling for the abolishment of the State Board of Review. The vote was 68-54 against the measure. A majority of 63 votes is required to pass a bill in the House. The defeated measure was favored by motion picture officials in this area. While eliminating the censor board, it would have provided a method whereby exhibitors of obscene shows could be prosecuted in court. Television Today Page