Motion Picture Daily (Apr-Jun 1960)

Stri pany's am at the ho GoIdenA 1 1 ires cont) remainder impressive ; "There public to cessful pi grosses th; Oliver T fines, Jr., committee, the board < of Frank G. em Divisio Life Insurai of Textron PT director vacancy on created by tl Connell last First As previo had record s. year, and a this year oi with $2,313/ Goldenson "most signific, sion. Time b quarter, he sa of the corre after having < and percental networks for schedule for ready over 80 i enson told the He describe tre operations source of inc earnings in th i ahead of the p ment was also ter of this yea Points to "These results r. t4 1I1UU1 firmer tone in the motion picture business than had been the case in the past several years," Goldenson noted. He then referred to the effects of the Hollywood strike, reporting that it has created a short supply of pictures at this time." The stockholders were told that ABPT will continue its policy of disposing of non-profitable theatres, and has relinquished six since the first of the year, reducing its total holdings to 492. At the end of 1958, the total was 526 theatres. A stockholder suggested that management give consideration to con coiiipHny mat plans to convert it inp a ramp garage; that a similar projell is being discussed for the State * San Francisco, and that prospecti essees of one of the AB-PT New En land theatres have in mind convertii it to a bowling alley. Stockholders who inquired aboi prospects for an increased dividend cash or stock, were told by Golde son that the directors will have tl subject under consideration in the quarter but cautioned them that expanding business has need of c siderable cash. He said other divisions of the con pany were doing well, including A