Motion Picture Daily (Jul-Sep 1960)

<*0f 88, NO. 40 V.F. Group to Fight NEW YORK, U.S.A., FRIDAY, AUGUST 26, 1960 TEN CENTS Greater Union Theatres Has Set Aside jttle Hope for $\i7Q2,m As TV Contingency fund B0 • || Special to THE DAILY 3USC 15 ill tO SYDNEY, Australia, Aug. 25.-Greater Union Theatres Pty., Ltd., over the past six years has set aside from its annual profits £,760,000 ($1,702,400) as provision for television contingencies, stockholders were advised at the annual meeting here today. Norman B. Rydge, chairman, explained that the continuing increases in the fund were necessary because of the effect of television on theatre business. In 1959 it was especially severe in Sydney and Melbourne for the circuit. "As in 1958, however," he added, "operations in other states continued to provide adequate returns and results therefrom were not markedly affected by television until late in the year." The amount set aside for tv contingences in 1959 was £50,000 ($112,000). Consolidated net profit in 1959 was £227,785 ($510,238) as compared to £225,390 ($504,873) in 1958. Rydge also told stockholders that changed economic conditions in the business have called for various modifications, including closing of some theatres, new screening policies for others, and extensive remodeling of two city theatres to provide for Todd-AO. "The future trend appears to indicate that more theatres will close and that it will still be some time before a position of stability is reached." Eid 'Legit' Tax Lvdsay Defends Limiting it to 'Living Theatre' By E. H. KAHN SHINGTON, Aug. 25.-A bill rovide that the tax on admissions najnot apply to admissions to any ve'lramatic (including musical) peronjince" is conceded by the spon» <f the measure, Rep. John V. .in'ay (R., N. Y.) to have no chance f ssage this year. Is bill is of direct interest to the wn picture industry because it le^y would provide a tax benefit to 'He1 class of entertainment— live— i'h;' denying it to motion pictures, hfadmittedly constitutes a discrim( Continued on page 6) 'P Abandons Search o Gritting, Family If. Special to THE DAILY j ilLAHOMA CITY, Aug. 25. A 5-ite search by the Civil Air Patfior the missing plane which carried Henry Griffing, Video Theatres president, his wife, son and daughter, was called off today when hope of finding the family alive was abandoned. The Griffings d i s a ppeared after taking off in their private plane from Teterboro, N.J., rt on Aug. 16 for their home (Continued on page 7) 0] 'Blank-Check' Policy Gold to Head NSS For 'Pepe' Promotion Advertising, Publicity Columbia Pictures has authorized a "blank-check" policy for the promotion and merchandising of George Sidney International-Posa Films Internacional's "Pepe," it was announced by Jonas Rosenfield, Jr., Columbia executive in charge of advertising, publicity and exploitation. The program backing the film which stars Cantinflas, will have no less than a minimum budget of $1,000,000, Rosenfield de( Continued on page 7 ) Melvin L. Gold Enterprises has been retained, by National Screen Service as advertising and publicity consultants, it was announced by Burton E. Robbins, NSS vice-president in charge of sales. Melvin L. Gold, president of the consulting firm, will function as National Screen's advertising, publicity director. From 1943 to 1954 Gold was em( Continued on page 7 ) No Agreement on Minimum Wages Reached by House-Senate Conferees From THE DAILY Bureau WASHINGTON, Aug. 25.— The first meeting of the House-Senate conferees on the minimum wage bill led to no concrete agreement. In fact, as the meeting broke up, there were indications that some effort will be made to deadlock the conference and prevent s ton dui e Will Tour for artacus' Meetings iversal International is setting five )ehind-the-scenes personalities to all the cities in which "Spartathe Bryna production, will open g October and November, it was (Continued on page 6) enactment of any changes in minimum wage law. Some observers think, however, that in a case like this intransigent attitudes may be based more on a knowledge of political horse-trading techniques than on a genuine inflexibility. At the meeting's conclusion, Rep. Kearns (R., Pa.) commented that it had been just a preliminary session. Senator Goldwater (R., Ariz.), a leader of the group that opposes new wage legislation, said that the conference would either produce nothing or adopt the House-passed bill which raises the pay floor to $1.15 hourly and covers certain retail employees. Democratic presidential nominee John Kennedy (D., Mass.), whose prestige is bound up with the passing of a new law, was confident that it would be possible to reach a compromise. In the absence of a deadlock, it would appear reasonable to assume that the bill to emerge from conference will bring about 3,000,000 more employees under the wage law's umbrella, but will cut die pay floor from the Senate-approved $1.25 hourly to the House-passed $1.15 hourly. Partnership Alcoa to Join Zeckendorf in Fox Studio Buy Seen As Assuring Closing Of $43 Millions Deal Plans for Aluminum Company of America to join with William Zeckendorf s Webb & Knapp company in the purchase of 20th Century-Fox's 265acre studio property for $43 millions as the site for the projected Century City development were announced here yesterday by Zeckendorf & Frank L. Magee, president of Alcoa. Under the arrangement, Alcoa will purchase a substantial interest in 91091 Corp., a Webb & Knapp sub( Continued on page 2) Zeckendorf a TO A Convention Speaker William Zeckendorf, well known realtor and financier, will address the convention of Theatre Owners of America in Los Angeles, Sept. 13-16, it was announced by Albert M. Pickus, TOA president. Z e ckendorf, who is a director of the America Corp., parent c o mpany of Pathe L a b o ratories, will speak at the luncheon session Sept. 14 on the film produc( Continued on page 2 ) Senate Changes OK'd In Foreign Trade Bill From THE DAILY Bureau ■ WASHINGTON, Aug. 25.-A conference committee has agreed on changes in a bill to permit firms doing business abroad to elect an "over-all" limitation on the foreign tax credit as an alternative to the existing "per country" limitation. A number of ( Continued on page 7 ) W. Zeckendorf