The Exhibitor (1956)

MOTION PICTURE EXHIBITOR 9 TO A To Urge Broadening Of SB A Policy To Include Mortgage Loans Film Execs Enroll For Durante Tribute New York — Motion picture industry executives from all branches of the busi¬ ness are joining the honorary committee for the entertainment industry tribute to Jimmy Durante, it was announced by S. H. Fabian and Arthur Krim, co-chair¬ men, motion picture committee. Among those who have already agreed to serve are Charles Alicoate, Harry C. Arthur, Jr., Robert S. Benjamin, Charles Brackett, Harry Brandt, Alfred E. Daff, George F. Dembow, Walt Disney, Russell V. Downing, Arthur Freed, Y. Frank Freeman, Leopold Friedman, Herman Gelber, William J. German, Leonard H. Goldenson, Abel Green, Don Hartman, Saul Jeffee, Mrs. Chick Lewis, Eddie Mannix, Abe Montague, John J. O’Con¬ nor, Robert J. O’Donnell, Milton R. Rackmil, Elmer C. Rhoden, Herman Robbins, Samuel Rosen, Sol Schwartz, George Sid¬ ney, George P. Skouras, Spyros P. Skouras, Jake Starr, M. O. Strausberg, Joseph R. Vogel, Frank C. Walker, Rich¬ ard F. Walsh, Major Albert Warner, Herbert J. Yates, Max Youngstein, and Sam Zimbalist. The dinner, sponsored by the Jewish Theatrical Guild, will be held at the Wal¬ dorf-Astoria on March 17. Participating in the proceeds will be the Motion Pic¬ ture Relief Fund, Negro Actors Guild, Catholic Actors Guild, Episcopal Actors Guild, Yiddish Theatrical Alliance, the Actors Fund, Will Rogers Memorial Hos¬ pital, and the AGVA and AFTRA Wel¬ fare Funds. Columbia Loan Reduced Washington — A Securities and Exchange Commission report recently showed that Columbia Pictures had reduced its out¬ standing notes and loans held by five banks and trust companies to $15,000,000 as of Oct. 1, 1956. The company borrowed $18,000,000 from the First National Bank of Boston, Na¬ tional Trust and Savings Association, Bank of America, Chase Manhattan Bank, and Bankers Trust on Sept. 1, 1954, and repaid $3,000,000 of this loan last Oct. 1. At this time, the SEC report stated, Screen Gems, Inc., a subsidiary of Colum¬ bia Pictures, borrowed $5,000,000 from the First National Bank of Boston, the money being guaranteed by the parent company. Under the terms of this loan, SG will repay a million each on Aug. 31, 1957, 1958, the balance in 1959, or earlier at SG’s option with interest at four per cent per annum on the unpaid balance. Cinemiracle Starts First New York — High adventure along the Spanish main will be the subject of Louis de Rochemont’s first Cinemiracle produc¬ tion. Elmer C. Rhoden, president of National Theatres, Inc., sponsor of the new wide screen process, announced last fortnight that filming would start im¬ mediately. Based on a contemporary story by Captain Alan J. Viliers titled “Cinemiracle Adventure,” the film will center around the famous Norwegian square-rigger, the Christian Radich, reputed to be the fast¬ est windjammer still afloat. Jack L. Warner, president, Warner Brothers Pic¬ tures, Inc., and Leonard Goldenson, president, AB-PT, are seen recently at the Warners' Bur¬ bank, Cal., studios, where arrangements were made for the filming of TV programs for the ABC television network. Leon Brandt Joins New Production Firm New York — Leon Brandt was named vice-president and director, newly formed Coates-Gordon Productions, to serve as eastern sales and publicity representative, it was announced last week by William D. Coates, president, and Glen Gordon, vice-president in charge of production. Other officers are David C. Moore, vicepresident and general counsel, and Earl C. Manning, member of the board. Present planning calls for filming to start in early January, 1957. Scheduled starters on the Coates-Gordon production agenda, subject to the availability of stars to fill top roles, are to be selected from among the following finished scripts, “The Last Gun,” “Ride The West Wind,” “The Night The Mayor Spoke,” “Bury Me Not,” “Johnny Reb,” “A Touch Of Madness,” and an untitled original. The first group of films will be budgeted from $250,000 to $600,000. Studio facilities have been arranged at the Kling Cali¬ fornia Studios, and negotiations for world¬ wide distribution through a major outlet were nearing completion. Daff Drive Readied New York — The 1957 Daff Drive, an 18 week sales drive in which Universal-In¬ ternational’s overseas branches through¬ out the world will participate as a salute to Alfred E. Daff, president of the com¬ pany’s overseas subsidiary, was an¬ nounced last week by foreign general manager Americo Aboaf. Forty U-I branches will join in the global sales drive which will run from Dec. 30 to May 4. Theme and slogan is “U-I Key to Pros¬ perity” with a gold key standing as the symbol of the drive throughout the world. To coordinate the effort, drive kits containing samples of exploitation and advertising material, and suggested office displays have been distributed to the par¬ ticipating U-I branches. New York — A report issued last fort¬ night by Philip F. Harling indicated that the TOA would go to the Small Business Administration with a series of recom¬ mendations aimed to help theatres by permitting SBA to guarantee funds for mortgage financing. TOA will recommend that in order to help the national economy the SBA revise its rules to permit it to grant regular mortgage loans up 20 years to qualified motion picture exhibitors; that the SBA be permitted to make such loans accord¬ ing to established methods and formulas used by leading institutions; that the maximum sum that may be loaned by the SBA for such mortgage purpose shall be $2,000,000 on any one theatre property; and that the SBA secure proper legislation in order to enable it to increase the re¬ volving fund. Harling’s report criticised SBA’s refusal to guarantee mortgage financing and re¬ financing and the necessity of having to file a letter of refusal of finance from a lending institution in order to seek SBA assistance. “The onerous collateral requirements and the complicated and voluminous data that must be obtained before the appli¬ cation can be considered is sufficient cause for abandonment of any attempt to put an application through the SBA,” Harling declared. Holding that mortgage financing is ab¬ solutely essential to theatres, Harling pointed out that the SBA loan policy board has the authority to reverse the general loan policies of the agency to fit changing conditions, and revealed that TOA and others would make application for changes in the near future. N. J. Exhibs Widen Program Newark, N. J. — Following a meeting of the executive committee of the Federation of New Jersey Theatres at the Stanley Warner offices here recently, George Gold, president, stated that the group originally formed to safeguard state ex¬ hibitors on the legislative front would widen its scope. Committees were named to consider the publication of a bulletin; participation of state theatres in collection drives; a drive to have insurance rates changed; a cam¬ paign directed at minimum wage laws; the improvement of public relations; and state and local civic undertakings by the theatres of the state. New Fabian-Rosen Pacts Seen New York — It was learned last fort¬ night that Stanley Warner Corporation stockholders at the annual Wilmington, Del., meeting on Jan. 10 will be asked to okay a three-year extension of the em¬ ployment agreement with Fabian Enter¬ prises, Inc., covering the services of Si H. Fabian and Samuel Rosen as presi¬ dent and executive vice-president respec¬ tively. Fabian, Rosen, and Nathaniel Lapkin will be candidates for reelection as directors. December 19, 1956