The Exhibitor (1966)

Trans-Lux Nine Month Income Up; Tight Money Slows Circuit Growth NEW YORK — Net income from operations, after taxes, of Trans-Lux Corporation for the nine months ended Sept. 30, amounted to $406,292, or 57 cents per share, on the 718,037 shares of common stock currently outstanding, Richard Brandt, president, reported. For the comparable 1965 period, net earnings from operations were $376,926, or 52 cents per share on the same number of shares, excluding non¬ recurring income of $12,379, or two cents per share. Gross revenues from the company’s com¬ munications services, Brandt reported, were slightly above those of a year earlier, while revenues from the company’s entertainment CLARK TRANSFER INC. Terminals: • BOSTON, MASS. 100 Gibson Street, Dorchester 617-282-2099 • NEW YORK, N. Y. 610 W. 47th Street 212-246-0815 • NORFOLK, VA. 316 South Main Street 703-545-3832 • PHILADELPHIA, PA. (Executive Offices) 829 North 29th Street 215-232 3100 • RICHMOND, VA. 312 South 17th Street 703-648-6083 • TAMAQUA (Hometown), PA. RD #2 717-668-1727 • WASHINGTON, D. C. 3194 Bladensburg Road, N.E. 202-526-4800 PROGRESSIVE ELECTRIC CONSTRUCTION CO. INC. 240 N. 13th St. • PHILADELPHIA, PA. 19107 35 Years of Theatre Construction and Maintenance BLUmBERG BROS., Inc. Cuetufilu+uj. jpsi the. <JlvecU'ie ffiLNUT S-, 240-4. activities reflected the elimination of its Bal¬ timore theatre complex and the closing of the Lexington Avenue and 52nd Street Trans-Lux, and were below those of a year earlier. How¬ ever, he said, on the basis of comparable opera¬ tions, theatre revenues were significantly above those of a year ago. Brandt reported that consolidated net work¬ ing capital amounted to $2,091,522 as of Sept. 30. Current assets of $3,637,632 were 2.3 times current liabilities of $1,546,110. Initial response to the new 1,000 seat TransLux Theatre, which was opened at the Co¬ lonial Park Plaza shopping center, Harrisburg, Pa., on Sept. 21, has been excellent, Brandt reported. He said discussions are continuing with regard to the acquisition of other promis¬ ing theatre locations in important shopping centers, and although this program has been delayed somewhat by reason of the effect of the tight money market on the construction of new shopping centers, it is anticipated that contracts for a number of new locations will be concluded in the comparatively near fu¬ ture. He also stated that the company has contracted to purchase a 50 per cent interest in the land and building at 49th and Broad¬ way at which the Trans-Lux newsreel theatre is located, and said that it is planned to con¬ vert the theatre from newsreel operation to one presenting first run high quality pictures. Brandt reported that a substantial number of contracts have been signed for installation of the company’s new Trans-Jet electronic stock quotation device during 1967, and it is anticipated that the first units will be available around the first of the year. With regard to the company’s established communications services, Brandt said that installations of closed-circuit television units and Dow Jones news ticker projectors continued at all-time highs, and that installations of Trans-Lux stock ticker projectors in Canadian brokerage houses also remained at a high level. Sales of children’s television programs, both here and abroad, Brandt said, were above those of a year earlier, including the com¬ pany’s most recent series, “Gigantor.” He also reported that the company has acquired the distribution rights to a new home audienceparticipation game show, entitled “Pick A Show,” and that initial sales efforts have been encouraging. The possibilities inherent in a number of other series, he said, are being ac¬ tively explored, with several approaching the contract stage. Walsh Committee Crows NEW YORK — Saul Jeffee, president of Movielab, Inc., is serving as laboratory chair¬ man of the Silver Anniversary Salute to Richard F. Walsh, it was announced by Jack J. Valenti, general chairman of the dinner in honor of the IATSE’s president. The black-tie dinner-dance will take place on Dec. 3 at the Hotel Americana in New York City. Proceeds of the dinner will go to the tax-deductible Richard F. Walsh Foundation, and the monies so collected will be turned over to charity by the guest of honor. His leanings toward Will Rogers Hospital are well known. Walter F. Diehl, executive vice-president of the IATSE, has set up his Union committee to work in conjunction with Valenti. Urged By NATO's Corwin Sensible Film-To-TV Plan ATLANTA— In a speech delivered at the recent combined convention of the Motion Picture Theatre Owners and Operators of Georgia, the Alabama Theatre Association and the Tennessee Theatre Owners Association, Sherrill Corwin, president of the National ; Association of Theatre Owners, made numer¬ ous provocative comments, chiefly concerning the current rise of recently made, top quality films being shown on television at or near prime evening time. He also expressed strong feelings about film production company liqui¬ dations. He said that the showing of high grade films on television does not hinder, but rather helps the exhibitors’ trade. He held that “more money in the production companies’ coffers means more films for theatres.” In this way, television networks, by serving as a source of revenue for production companies, indirectly aid theatres. He did imply, however, that the feature-film-on-television trend was an affair to be reckoned with; he refered to the recent success of “Bridge on the River Kwai” as “terrifying.” His chief complaint was the current practice of leasing films to the television networks while they are being shown at the theatres. He asked, “Don’t the presidents of our film companies know that columnists read our trade papers and there are no trade secrets kept from the picture-oriented patron . . . and that our sophisticated customers are not likely to run to see ‘Glass Bottom Boat’ or ‘Those Magnifi¬ cent Men in Their Flying Machines’ in our theatres if it is announced while we are cur¬ rently playing them that they will be on tele¬ vision a year or two hence?” He advocates that such leasings should not be negotiated until after the film has completed its first run. He also advocates, as part of the agreement between film company and network, the showing, along with the film, of a one-minute spot by the television network, which advertises the particular company’s current or future movie for theatrical release. Corwin said that last year a committee of NATO leaders visited the sales heads of the distribution companies asking them to make such a condition on all future television sales. Although they all thought it was an excellent idea, no action has been forthcoming. Another issue which he emphasized was the detrimental effect the liquidation of film com¬ panies would have on exhibitors at large. He pointed out that in recent years two film . companies have gone out of business and a third has virtually ceased production. He looked with disdain upon the financial analysts’ view that a film company is more valuable in liquidation than in production. Becker Heads Buffalo Tent BUFFALO — Peter G. Becker, Dipson The¬ atres booking department, has been elected chief barker of Tent 7, Variety Club of Buf¬ falo. He has been second assistant chief barker in 1966 and is presently chairman of the club’s membership committee. He is the son of the veteran theatre supply executive and Buffalo’s first projectionist, A1 Becker. Other new officers are Melvyn Berman, TriState Refreshments, Inc., first assistant chief barker; Robert King, general manager, WKBW-TV, second assistant chief barker; Dick Aaron, property master, and Myron Gross, manager, Co-Operative Theatres, dough guy. 18 MOTION PICTURE EXHIBITOR November 23, 1966