Motion Picture Daily (Jul-Sep 1960)

NEW YORK, U.S.A., THURSDAY, AUGUST 18, 1960 TEN CENTS ti $2,033,000 Amended Wage Bill Meets Defeat; Near Signing \ra. Second Kennedy Measure Seen Endangered Terms Set on Quarter Net 5 lows Increase i^Month Earnings Ported $3,732,000 amount Pictures yesterday rel estimated total consolidated gs for the second quarter of 3f $2,033,000 or $1.22 per share, ing special income of $1,201,r 72 cents per sare representing ments on sale of the pre1948 brary. nparative earnings for the same in 1959 are: total earnings of 5,000 or 94 cents per share, ing special income of $440,000 cents per share. he first six months of 1960 total idated earnings are estimated at 5,000 or $2.23 per share, includDecial income of $1,955,000 or per share representing principalaliments on sale of the pre-1948 brary. impany official attributed the de(Continued on page 2) \i\ Pay-TV Kits Go Hail Next Week ional Screen Service will begin g the anti-pay-TV petition kits country's theatres next week, it nnounced by Philip F. Harling, mn of the Joint Committee it Pay TV. ling said that the assembling of ( Continued on page 7 ) 'V. Can Reacquire atre in Bristol order allowing Stanley Warner to reacquire the Bristol TheaBristol, Conn., was signed here lay by New York Federal Judge dnjnd Palmieri. A condition of the "de is that the circuit dispose of the anji) Theatre in that city for theaica or non-theatrical purposes. Sti iley Warner had petitioned the : ( Continued on page 2) EIY/S/ON TODAY— page 6 By E. H. KAHN WASHINGTON, Aug. 17.-The Senate has defeated by a vote of 54 to 39 a proposal to adopt a corrected version of the minimum wage bill that passed the House. The measure offered by minority leader Dirksen (R., 111.) would have increased the minimum wage to $1.15 hourly and extended coverage at $1.00 hourly to employees of retail chains with at least five stores in two or more states. It may complete work on the wage bill Thursday. The closeness of the vote indicates, however, that chances of enactment of the bill sponsored by Democratic presidential nominee John Kennedy (Mass.) have grown slimmer. In fact, it is known that representatives of labor unions have been working on a compromise to be offered by Senator Monroney (D., Okla.). This would ( Continued on page 7 ) Allied Joins with NAC Trade Show Nov. 6-9 Special to THE DAILY CHICAGO, Aug. 17.-Allied States Ass'n. of Motion Picture Exhibitors will join with the National Association of Concessionaires trade show at the Conrad Hilton Hotel here Nov. 6-9, it was announced today by Jack Kirsch, president of Allied Theatres of Illinois and general chairman of the 1960 national Allied meeting. This will be the first time in several years that the two groups have joined forces for a combined trade show and conventions. The advance interest in the combined conventions and trade show assures a record attendance of more ( Continued on page 7 ) Differences honed Out, Wald Busy at 20th-Fox From THE DAILY Bureau HOLLYWOOD, Aug. 17. All existing differences between Jerry Wald and 20th Century-Fox studios were composed during a conference today. As a result of this agreement, Wald will fulfill his new contract for the (Continued on page 2) Distributors See New Moss Bergsn Mall House Shopping centers and theatres, by combining forces, can greatly multiply the drawing power of each, James O'Grady, general manager of the Bergen Mall Shopping; Center, told a group of foreign film distributors on an inspection tour of the new B. S. Moss Mall Theatre in the Jersey shoping center yesterday. The theatre, which features the world's first all transistor sound system, has 550 seats and parking facilities for 8,600 cars. Charles Moss, president of the cir(Continued on page 7) A-P Downbeat Film Article Becomes Upbeat Series By Showman's Action How an exhibitor turned a nationally syndicated "downbeat" Hollywood article into a constructive series in his local newspaper is related by Theatre Owners of America in its current issue of "TOA Business Builders." R. L. Baker, Jr., owner of the Webb Theatre, Gastonia, N. C, the exhibitor in question, enlisted the help of the editor of the Gastonia Daily Gazette in presenting a more accurate picture of the economic status of the industry after the newspaper had published the Associated Pressdistributed Bob Thomas downbeat Hollywood story in July. The A-P Hollywood columnist asserted, among other things, that "America's most publicized industry is also its sickest. Motion picture business is on a steady decline when all other industry is booming . . ." The article appeared about the time theatre attendance was experiencing a sharp upturn, which is still continuing, and which Sindlinger & Co., business analysts, recently reported was responsible for the highest mark in four years during the final week of July. Baker told the Gastonia Gazette's editor some of the business facts of (Continued on page 6) Fox Backlog Sale to NTA 27 Post-'48$ in 81-Film Package for $4,125,000 Terms of the deal for the purchase by National Telefilm Associates of a package of 81 features from 20th Century-Fox— 27 of them of post-1948 vintage, reportedly have been agreed upon and the deal is ready for signing momentarily. NTA will pay $2,000,000 in cash on signing, and a balance of $2,125,000 in payments over a long term, with a guarantee provided. The deferred payments call for $1,000,000 in three years, $500,000 in four years, ( Continued on page 6 ) America Corp. Forms Two Film Subsidiaries America Corporation, formerly Chesapeake Industries, Inc., has announced the acquisition of Pricemetal Corporation of Belmont, Calif'., and the creation of two new subsidiary companies. Gordon K. Greenfield, president of America Corporation, said (Continued on page 7) Foresee MGM '61 Net Of Over $5.50 a Share The financial district, enamored of all motion picture stocks for the past several months, is now estimating M-G-M's 1961 earnings between $5.50 and $5.75 per share, or in the neighborhood of $14,000,000. Estimates of earnings for the current fiscal year, ending Aug. 31, are about $3.75 per share. The Wall St. soothsayers envision $50,000,000 to $60,000,000 in MG-M's post1948 film library. Also anticipated is a deversification move of significance to be undertaken with the $35,000,000 in cash or equivalent in the company's treasury. M-G-M's stock, strong for some weeks past, closed at 38?4 yesterday.