Motion Picture Daily (Apr-Jun 1958)

11, li ^Vednesday, June 11, 1958 Big Pictures { Continued from page 1 ) ite w» |,»ne of them being UA's "Trapeze"; ilalli iibout a dozen have grossed in excess \kst'i>i $10,000,000, two of them being tlat i |/JA's "Vera Cruz" and "Not as a ntliej^vtranger"; and "many current picures" are headed for a gross of beter than $5,000,000, including UA's Run Silent, Run Deep," "God's Litle Acre" and "Witness for the Prosecution." ny sin standi rodiirt hi olljil: inert TksJ Da II ice-prefl' id prf )i Motion Picture Daily ^ tilm Leaden to View Vikings' at Dual Bow lA large group of industry leaders vill be among the capacity audiences otalling 2,100 which tonight will atend the two-theatre world premiere l)f Kirk Douglas' "The Vikings" at 'he adjoining Astor and Victoria Theatres on Times Square. The side-by-side openings will be leld for the benefit of the Crown 'Mncess Martha Friendship Fund 'mder sponsorship of the Americanioandinavian Foundation and tlie '*Jorsemen's Federation. Kirk Douglas, Tony Curtis and anet Leigh, who are starred in the Jnited Artists release, will make peronal appearances on the stage of sach theatre before a distinguished issemblage which will include Senator Jacob Javits and Norwegian Conlul General Thor Brodtkrob. UA Executives to Attend United Artists officials to be pres;nt are: Arthur B. Krim, Robert S. |Jenjamin, WiUiam J. Heineman, Max Youngstein, Arnold M. Picker, Herbert L. Golden, Seymour M. Pey;er and Leon Goldberg. Other film industry notables presnt will include Barney Balaban, illmer Rhoden, Bernard Kranze, Abe Schneider, Spyros Skouras, Herman Itlobbins, Leopold Friedman, Si Fabi^^j'm, George Weltner, George Schaefer, »am Spiegel, Walter Reid, Kenneth Hargreaves, Arthur Hornblow, Marcello Girosi and Sol Schwartz. The premiere will receive world^dde press photo, radio and televiDgCSiion coverage. gent: a nd vii it COlllC iddiflJ' flII N.Y. Variety Club , ( Continued from page 1 ) , taurant, it was announced yesterday jby Ira Meinhardt, chief barker. The international officers, headed by chief barker George Eby, will be in New York for a series of special meetings with the press and with the ohief barkers of the Northeastern tents |Df Variety Club. ^New ^Bargain Matinee^ HARTFORD, June lO.-The Rivoli rheatre, Chicopee, Mass., which recently inaugurated a "bargain matinee" policy on Sundays, with adults iharged only 50 cents from 1 to 3 P.M., has been joined in the practice oy the Falls Theatre in nearby Chicopee Falls, Mass. UA World-Wide Gross, Net Profits Continue Up Continuing increases in both worldwide gross and net profits were reported by Robert S. Benjamin, UA chairman of the board at yesterday's stockholder meeting. The figures: I'i weeks to 13 weeks to Mar. 29, '58 Mar. 31, '57 World-wide income $16,485,000 $14,389,000 Net earnings $636,000 $569,000 Earnings per share 59 cents 53 cents The world wide box office gross of UA pictures for ten weeks of the second quarter (to June 6, 1958) was $12,190,000 compared to $11,159,000 for the equivalent period last year. UA Restricted Stock M. P. DAILY picture ONSTAGE at the Rivoli yesterday: accounting representative John Peoples, controller Joseph Ende, vice-presidents Herbert Golden, William Heineman, ^ , . . Seymour Peyser, president Arthur Krim, chairman Robert Benjamin, secretary OOffOff P ICffl iAODrOVGu Seward Benjamin, director Robert Porter, vice-presidents Max Youngstein, ' *' Arnold Picker, Leon Goldberg. UA Reports to Stockholders ( Continued first quarter of 1958 were 11.7 per cent over the first quarter of 1957. The 1958 figure was $636,000, compared with $569,000 for the first quarter of last year. This growth trend is continuing, he reported, citing the fact that the company's world-wide theatre gross for the first ten weeks of the second quarter of 1958 was $12,190,000 compared with $11,159,000 for the comparable period of last year, an increase of 9.2 per cent. Stock Option Plan Outlined The chairman outlined the restricted stock option plan submitted for approval, under which an estimated 20 key employees of the company, excluding six of the principal officers, would be offered options on stock over a period of ten years. The plan, he emphasized was designed to attract and retain executives and key personnel in a managerial structure adapted to expanding production and diversified activities. He detailed the status of the involved negotiations for the purchase of Associated Artists Productions, which owns the Warner backlog of pre-1949 pictures and said that every step had been taken to insure an early trial of the suit by which NTA has sought to halt the purchase. UA has purchased 700,000 shares of AAP stock from 12 stockholders in that company and has made an offer, now halted by injunction, to all other stockholders to purchase their shares for $6 in cash and $6 in debentures in the new UA subsidiary set up to own AAP. Touches on Public Financing Benjamin also referred to the announcement, made last week, that the board is considering additional public financing but said that he was barred by SEC rules from discussing it until the prospectus is approved. He mentioned that the company was studying a pension and retirement plan which would be submitted at the next meet fro m page 1 ) ing and then introduced Arthur B. Krim, president of the company, to outline prospects for the future. Krim pointed out that the results of the public financing of a year and a half ago were only beginning to be reflected in the company's release program. He pointed out that in 1955 the company had nine releases in the top "A" bracket, 12 in 1956 and 14 in 1957. So far this year there have been eight and another 12, already seen and evaluated, are listed for release during the balance of the year. These are "The Vikings," "Kings Go Forth," "Une Parisienne," "The Big Country." "China Doll," "Man of the West," "Separate Tables," "Ten Seconds to Hell," "The Defiant Ones," "The Gun Runners," "Tlie Horse's Mouth" and "I Want to Live," plus the broad release of "Around the World in 80 Days." Inventory Largest in Histoi^y In addition, the president said, the company has a backlog of 35 other pictures of varying types, the largest inventory in the history of the company and one of the largest in the industry. On long range plans, Krim said the company was "most optimistic." Tliis he based on the premise that "even the pessimists agree on one factor in this market— the successful pictures are constantly reaching new high grosses." United Artists, he declared, was insuring its position for the next two or three years by increasing the number of pictures aimed at big grosses, making them as economically and efficiently as possible, and obtaining them from as many different sources as possible. "Our formula," he continued, "is to create a climate in which top flight independents can work in relative autonomy. This has resulted in an ever increasing trend toward affiliation with our company by independents. We have literally hundreds of minds working for us on hundreds Under the restricted stock option plan approved yesterday by United Artists stockholders a maximum of five per cent of the outstanding stock, but in no case more than 72,810 shares, will be available to be optioned to key employees at the discretion of the board. Robert S. Benjamin, chairman of the board; Arthur B. Krim, president, and vice-presidents William J. Heineman, Arnold M. Picker, Charles Smadja and Max E. Youngstein are specifically exempted from the plan. It is estimated that the number of present and future employees who will be granted the options will not exceed 20, of whom seven are presently officers of the company. Board Will Set the Price The option price will be determined by the board but may not be less than $20 per share or 95 per cent of the highest price at which tlie common stock is sold on the exchange the date option is granted, whichever is higher. The board will determine the term for which the option shall be valid but in no case may any option be exercised for at least one full year and none shall be effective for a term of more tlian eight years. Options may not be transferred except in die case of death and then only by will or the laws of descent and there are limitations on the period during which it may be exercised after an optionee's death or after the termination of his employment with the company. of different opportunities to follow public taste." The company will continue to release 40 to 48 pictures a year, Krim said, adding that "there is still profit in the smaller pictures although it is declining." Announcement Slated for October Reverting to the program of top pictures, Krim said proudly that the company would in October announce 24 "A' features for dated release through 1959, in the same fashion it startled the trade with the announcement of 16 last October for specific dates in 1958.