The Exhibitor (1960)

N.H. Murder Brings "Ripper" Date Protest MCM, Inc, Name Adopted As Vogel Sees Banner '60 Subject To Strike NEW YORK — Metro-Goldwyn-Mayer Inc. — formally adopted as the new name for Loew’s, Inc. — had the highest earnings in a decade in fiscal 1959. Prospects for the cur¬ rent year are very bright, Joseph R. Vogel, president, told the annual meeting of stock¬ holders last week. Vogel warned, however, that these pros¬ pects were contingent upon the effect of the strike called for March 7 by the Screen Actors’ Guild against the major motion pic¬ ture studios. “The calling of the actors’ strike comes at a time when every division of our company is operating profitably,’’ Vogel said. “We have a broad plan to mini¬ mize that impact as much as possible. In fact, some phases have already been put into action. The plan includes the reduction of fixed costs, and the slowing of our picture release schedule. We have a stock of com¬ pleted feature films for release. In addition, we have plans to produce pictures aboard which lend themselves to foreign locations. Furthermore, we have evaluated our post1948 productions, none of which have ever been released to television, to select those with the best box-office appeal for reissue to theatres.” Vogel also disclosed that the company, which achieved a sharp turnabout toward the end of 1958 and is continuing on an up¬ trend, has the possibility of diversification under study. “As you will note from a study of our balance sheets,” he said, “our liquid assets and current p>osition have improved considerably. “Your board of directors has undertaken a search for suitable investments or new business activities which can be acquired. Your management believes your interest would be best served by taking on new ac¬ tivities which relate to the company’s ex¬ perience in dealing with the general public — in a business that deals directly with the great masses of people through sales or services. “We are hopeful of finding new avenues for growth in such an area — and we are determined to find them. Growth, I am con¬ vinced, is a factor in our future.” Balloting by proxy and in person, the stockholders voted overwhelmingly to re¬ elect the present board, and in support of proposals advanced by management, includ¬ ing the formal change of name of the com¬ pany to Metro-Goldwyn-Mayer Inc. A pro¬ posal to reinstate cumulative voting was re¬ jected. Stockholders also approved a grant of re¬ stricted stock options to certain key execu¬ tives at 100 percent of market price at the time the board voted the options. Reviewing the progress the company has been making, Vogel pointed out that the first quarter of 1960 had produced a net profit of 71 cents per share, the fifth consecutive pe¬ riod of profit since the turnabout. “Perhaps the most gratifying fact of all our efforts is that our motion picture production division, which was the center of our greatest problems in the years of losses, has once more been providing substantial profits,” Vogel said. Television is a second great source of re¬ venue for the company, Vogel said. The great bulk of this revenue comes from the licens¬ ing of pre-1949 films for TV showing. During Mayor Robert F. Wagner of the City of New York recently proclaimed April 4 as Academy Awards Motion Picture Theatre Day in New York in connection with the NBC nationwide telecast of the Academy Awards in Hollywood sponsored by the industry. Receiving the proc¬ lamation on behalf of the industry is Maureen O'Hara, star, Columbia's "Our Man In Havana." Take Pix To Public, EDC Tells Distribs WASHINGTON— A bulletin issued to all Allied members by the Emergency Defense Committee of the Association claimed that “. . . the old showcase theory persists to the detriment of all production, distribution and exhibition,” and asks, “Why should first runs and following runs, some many rrules from New York City, for instance, be held up months, even years, for a picture to clear the New York first run?” The Bulletin claims that “outmoded clear¬ ances or retarded availabilities will not force New Jersey suburbanites, or others who en¬ joy shopping close to home, to change their new-found and well -liked convenient buy¬ ing habits. Rather, what does result is lost ticket sales for the industry through the un¬ necessary aging of product. “It is time for distribution to sever its old sentimental attachments and adopt modem merchandising methods. Let’s bring the merchandise to the people, not force the people to journey to the merchandise, for people want to buy at home where it is convenient. This is the modem development in retailing and we as an industry are hurt¬ ing ourselves by bucking the trend.” SW Closes Philo. House PHILADELPHIA— The Stanley Warner Circuit closed the neighborhood New Palace, South Street, and annoxmced the property had been sold for conversion to other purposes. the year just ended, the company granted 42 additional licenses, mostly to smaller sta¬ tions, on contracts which will produce more than $5,000,000. Since TV licensing was begvm, contracts totaling $56,000,000 have been signed, of which $31,000,000 is still to be earned by the company during the balance of the contract periods. A quarterly dividend of 30 cents per share payable on April 15 to stockholders of re¬ cord on March 18 was declared. The board re-elected George Killion as chairman, and re-named its executive committee. MANCHESTER, N.H.— The Aldermen of this city have gone on record as objecting to the showing of Joseph E. Levine’s “Jack The Ripper,” according to the Manchester Union. The action was taken on a motion by Alderman J. Francis Wilcox, who declared the advertising of the picture was lurid. He asserted that to show the film “at this time” was a “shame and a disgrace.” (He was re¬ ferring to the recent vicious murder of a young girl in the area.) His objection was because “the p>eople of Manchester are undergoing a state of fear and the showing is an effort to capitalize on one of the most disgusting crimes in our history.” (The murder has not been solved and the criminal is still at large.) Alderman John F. Granahan said he would not want to vote to ban the film without seeing it. “You can’t go by the title,” he said. Wilcox replied that he had seen some of the previews on TV and “they are most lurid.” Alderman Charles A. Himt said the Legion of Decency has not banned the pic¬ ture, to which Wilcox replied, “That’s easy for you to say because you own a theatre.” Hunt operates a drive-in in the Alton Bay section of the state. Wilcox also said the picture should be boycotted at this time because of recent local events, and his motion, which merely placed the aldermen on record as “objecting” to its showing, was passed without a dissenting vote. It was stated during the discussion that pictures are booked months in advance and “Jack The Ripper” could not have been booked in order to capitalize on the recent murder in Manchester. A member of the aldermanic license committee stated after the meeting that local movie operators have co¬ operated with the committee and do not show films on the Legion of Decency’s con¬ demned list. "Wake Me" Trailer Set NEW YORK — Famed producer-director Mervyn Le Roy who recently completed his very first film for 20th-Fox, “Wake Me When It’s Over,” has begun work on a imique exploitation innovation designed to assure the attraction extensive audience saturation in two complete media. Le Roy is producing a special 15 -minute short-subject comedy feature starring the host of top comedians who also star in “Wake Me.” The subject showcases original bits by Dick Shawn, Ernie Kovacs, Don Knotts, Robert Strauss, and many others and will be offered free to 500 television stations around the country long in advance of key city playdates. Further editing will change the footage into the series of 60 and 20 sec¬ ond television trailers and spot sales tools, that 20th -Fox will use its TV campaign. It will also be the regular theatre, cross-plug, and teaser trailer. New Fla. Theatre Planned MIAMI, FLA. — It was announced last fort¬ night that contract for a $160,000 theatre in David Yorra’s Haven Plaza shopping center near the Cresthaven Homes development in Pompano had been awarded. The two-story theatre has been designed by WiUiam T. Vaughn, Fort Lauderdale, with D. E. Britt Associates doing the engineering work. 10 MOTION PICTURE EXHIBITOR March 2, I960