Motion Picture Daily (Jan-Mar 1960)

"ednesday, February 17, 1960 Motion Picture Daily 25 in. Film Dividends H $1,067,000 From THE DAILY Bureau WASHINGTON, Feb. 16. Morn picture companies paid $1,067,10 in dividends during January, 160, the Commerce Department reirts. This compares with $1,788,000 the same month of 1959. The department says that the yearyear difference of $721,000 is acjtunted for in part by the pay-off of kears in January, 1959. It also notes ■ at there have been some changes name, and possibly also changes of vidend payment date, in the moon picture group. During December, 1959, firms in le motion picture group paid $4,148,000 in dividends $1,294,000 lore than a year earlier. During all f 1959, these publicity reporting lompanies paid $25,612,000, or $1,94,000 more than had been paid to ockholders in 1958. f landers' Is Top Fox ilm in Louisiana Twentieth Century-Fox's "Dog of landers" although it opened during le first recorded snowstorm in Louisma last weekend has jammed boxffices throughout the state, according 3 theatre reports. It was said to surpass in three and/ or four days every .0th picture ever to play the area ncluding "Peyton Place," "A Fareivell to Arms," "South Pacific," "Inn )f the Sixth Happiness," and "Diary )f Anne Frank." In its first four days in Alexandria, it the Essanee, "Flanders" recorded 2,106 against "South Pacific's" $2,23, "Inn's" $1,917, and "Diary's" 51.450. In New Iberia, at the Essanee, Flanders," playing three days hit 1,080 against "Inn's" $339, and Farewell's" $478. Strong in Abbeyville In Abbeyville, at the Franks Theatre, "Dog" racked up $992 to "Inn's" $388, and "Rally 'Round the Flag's" $371. In Plaquemine at the Osage, Flanders" hit $742 against "Inn's" $447. In Lafayette, "Flanders" at the Jefferson was $2,132 against "Inn's" $1,677 and "Rally's" $2,033. In Crowley, "Flanders" reached $902 to "Inn's" $583. In Jennings, at die Strand, "Flanders" was $537 to Inn's" $292. In Natchitoches, at the Cane, "Flanders" topped "The Young Lions" with $916 to $645. In Leesville, "Flanders" topped "Say One for Me" with $350 to $185. In McComb, Mississippi, at the State, "Flanders" outgrossed "Blue Denim" with $586 to $557. SE&T Strong for Toll-TV Belafonte Leaving Palace Harry Belafonte will complete a 14-week run at the RKO Palace Theatre here on Sunday, March 20. No decision has been reached as yet as to whether the house will resume a motion picture policy or book another stage attraction. (Continued ica as long as SubscriberVision, controlled by the latter company, appeared to be a good commercial possibility, it was stated here today by Kurt H. Widder, director and counsel for SE&T, as the Securities and Exchange Commission continued its investigation of that company's filing of an allegedly irregular stock registration statement in 1957. Trading of SE&T stock on the American Stock Exchange has been banned until Feb. 26. Points to Fox's 'Initiative' Widder declared that Fox has "initiative and ability," that his past record for success spoke well for him, and that the venture in pay-TV was possible only so long as the two companies worked together. Skiatron also felt, he said, that stockholders were counting on success in pay-TV and that any injunction or suit against Fox would jeopardize the program for subscription television which had taken years to build. The company thereupon, tried to persuade Fox to keep control of his stock and did threaten injunction, but never took direct action and did not stop issuing stock to Fox. The question of sale of unregistered Skiatron stock other than that issued to Fox has also been raised at the SEC hearings. Now under discussion in Washington is the matter of the 1959 Skiatron filing as distinguished from the withdrawn 1956 filing. The second registration involved 172,242 shares, or which 75,000 went to Fox as well as options for 50,000 more. Aware of Judson Deal Widder admitted knowing that some of Fox's shares had been transferred to Judson Commercial Corp. as collateral for loans. He denied knowing that any had been sold. The other shares sold were a few given by the company to employees as a service bonus. There is apparently some legal question whether these shares should have been registered. An administrative officer of SEC wrote Widder that their inclusion in the filing "might be considered inappropriate" but Skiatron attorney James Landis, former SEC chairman, indicated other opinions and Julian Jawitz, attorney for Arthur Levey, Skiatron president, found nothing amiss. Hislop Denies Motion Hearing examiner Robert Hislop today denied the motion of Skiatron attorney Landis and Jawitz asking to strike previous testimony by Widder on matters having to do with the 1956 registration statement which the company later withdrew. This denial to strike was made without prejudice and it is expected that the Skiatron lawyers will again make the motion to strike on grounds of irrelevancy. If the motion had been granted then all the testimony elicited by SEC lawyers on Fox's sale of 195,000 shares would be eliminated from the from page 1 ) record to be judged by the commission and only the relatively small amount of 75,000 shares in 1959 would be subjected to scrutiny. Attorney Landis objected to the evidence on grounds that the statute of limitations had run out and was not applicable and that the company could have no contingent liability. Moreover he said that the past had given the company warning so that it did restrict part of the stock due to Fox. The testimony, said Landis, showed the company trying to find out what Fox was doing with the stock in an effort to get the registration statement before SEC as soon as possible. SEC attorneys Eugene Rotberg and Frederick Moss maintained that testimony about Fox's pre-1959 actions was important to show what the company knew or should have known in issuing stock to him in subsequent years. Rotberg pointed out that the company was so dependent on Fox that even with his history of disposing of unregistered stock it extended his time to exercise warrants. He noted that Levey returned to Fox warrants which he held as collateral on a loan. Will Scan Levey Deals The question of Levey's stock transactions will also be brought out. Hearing examiner Hislop held that he will permit questions about the options to buy 30,000 shares granted to Levey in the 1959 registration statement, and that questions of relevancy on previous stock transactions may be decided at the time they arrive. Landis objected on grounds that all of Levey's 30,000 shares— except for 5,000— were being held in escrow. Their numbers would indicate that despite contingents by SEC lawyers the stock had not been sold. In cross examination of Widder both Landis and Jawitz made the point that under certain circumstances stock that has already been sold can be registered, and sometimes is, by the SEC. Widder is not an attorney specializing in security law and claims that he tried to reveal all he knew and all he thought was necessary. The hearing will continue tomorrow. 'Ben-Hur' to Inaugurate Cannes Film Festival Metro-Goldwyn-Mayer's "Ben-Hur" has been selected to inaugurate the 1960 Cannes Film Festival May 4. It will be shown "hors concours"— out of competition. After the Cannes premiere, the French government will honor "BenHur" at a gala ball, at which Paris' leading coutouriers will present their "Ben-Hur" inspired creations; the Ben-Hur Rose will be introduced by the florists of France; the Association of French Jewelers will show a line of Ben-Hur jewelry; and a new Esther perfume will be added to the collection of world famous French perfumes. f E \ T TALK Variety Club News CLEVELAND-Tent No. 6 recently honored Elsie Loeb in recognition of her cooperation in administering the club's gratis film program project for shut-in patients of institutions. Representatives of all branches of the industry attended the affair, held in the building adjacent to the 20th Century-Fox exchange. Ted Levy presided, and Irwin Shenker, Variety chief barker, presented Miss Loeb a wrist watch as a memento of the occasion. BUFFALO— Tent No. 7 is sponsoring a "Cavalcade on Ice," for the benefit of the Children's Rehabilitation Center of the Children's Hospital and the Crippled Children Guild. The event will be staged today in Memorial Auditorium. The cavalcade will feature an international skating revue and a regularly scheduled hockey game between Buffalo and Rochester. Marvin Jacobs is promoting the event, assisted on the publicity end by Gene Korzelius. Quality Films ( Continued from page 1 ) ly as it applies to the release of major films at traditionally slack periods, if the films are supported by aggressive campaigns by distributors and exhibitors. "We are demonstrating to the industry that our distribution set-up can keep pace with the company's potent production schedule," Jackter declared, "and we are proving it in a post-holiday season." In All Major Markets Noting that the increased playing time for Columbia releases was a result of the stepped-up orderly release program, Jackter stated that the company's product was being given the broadest distribution ever. He said that films were being moved through a wide variety of different theatres in major markets across the country. In New York, he said, Columbia releases are currently playing in seven different showcase houses. Columbia releases have also been booked to play concurrently in five different theatres in Philadelphia, five theatres in Boston four in Washington four in Los Angeles and four in Chicago. Tells of Fast Start The general sales manager also stated that Columbia's "Year of the Big C," 1960, was off to a blockbuster start with the company's first four releases big box office hits. He cited such successes as Sam Spiegel's "Suddenly, Last Summer," C irol Reed's "Our Man In Havana," Stanley Donen's "Once More, With Feeling" and Philip A. Waxman's "The Gene Krupa Story," in addition to the long-running holdover hit from last year, Highroad's "The Mouse That Roared."