Motion Picture Herald (Apr-Jun 1931)

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M ay 16, 1931 MOTION PICTURE HERALD 13 LEADING STOCKS DROP MORE THAN INDUSTRY'S $125,880,000 APRIL LOSS Fluctuation of Leading Stock Groups Stock Issue Shares Outstandingr Closing Prices Mar. 31 Apr. 30 Depreciation Decline in in Points Market Value AMUSEMENTS Fox 2,425,660 Gen'l Thear. E 1,898,637 Loew'9 1,419,217 Paramount 3,113,026 RKO 2,328,250 Warners 3,767,593 3+ 12% 56 4354 22 12^ 20Vi 5 46 30% Totals 14,952,383 INDUSTRIALS American Can 2,473,998 Gen. Electric 28,845,927 Gen. Motors 43,500,000 Radio 13,161,750 Union Carbide 9,000,743 U. S. Steel 8,687,435 Totals 105.669,853 123% 22 6354 13973 11278 43% 41 16M 120 PUBLIC UTILITIES Amer. & For. Pwr 1,665,562 .\mer. Tel. & Tel 17,956,512 Consol. Gas 11,467,539 Int. TeL & Tel 6.642.508 Pub. Serv. N. J 5,503,128 United Gas Imp 23,314,577 Totals 66,539,826 OILS Atlantic Ref 2,696,642 Mex. Seaboard 1,244,383 Phillips Pete 4,279,982 Stan. Oil N. J 25,518,456 Stan. Oil N. Y 17,808,907 Texas Corp 9,851,151 Totals 61,399,521 RAILS Bait. & Ohio 2,562,952 Ches. & Ohio 7,655,048 N. Y. Central 4,992,590 N. Y., N. H. & H 1,571,179 Pennsylvania 13,111,700 Union Pac 2,222,916 Totals 32,116,385 4154 188% 10154 32% 335^ 18178 9454 26% 82 30% 18K 16% 10% 41% 21 5^ 2754 1554 1654 85^ 37% 19 22% 1378 7% 10 12% 378 5173 1054 454 1% 5% 19% 5054 5% 254 354 % 254 454 2^ 4J4 17% $33,656,032 14,002,447 14,191,170 38,523,696 9,021,968 16.483,219 $125,878,532 $25,976,979 122,595,189 70,687,500 69,099,187 78,756,501 172,662,770 $539,778,126 $13,451,441 125,695,584 80,272,773 57,291,631 28,203,531 58,286,442 $363,201,402 $8,763,986 466,643 10,699,955 114,833,052 44,522,267 46,792,967 $226,078,870 74 64-^ 9/2 $24,348,(M4 40% 4054 % 2,870,643 lOSH 9954 47,429,605 83 79 4 -6,284,716 5554 53M 154 19,667,550 184 170% 13% 30,843,189 38M $131,443,747 Berlin Financier To Sue For Failure of Picture Company Berlin — Sklarz, well known financier and director of Derussa, German-Russian film firm which failed, is expected to sue the Berlin Commercial Representatives of the Soviet for the failure, alleging the Russian board members were responsible. If he wins, the Berlin Russian Bureau, which appointed the Russians, will have to pay damages. The claim is for 10,000,000 marks. Warners Opening Four Houses In 2 Months in East, Midwest Dan Michalove, Warner theatres head, has returned to the home ofiice after the opening of the new Warner in Milwaukee, and an inspection of houses in the Chicago district. The Sam Warner Memorial theatre opened in Youngstown, Ohio, on May 14; a new house in Morgantown, W. Va., opens in June, and later the new Torrington, Conn., theatre opens. Although Film Issues Are Heaviest Point Losers RKO's $9,021,970 Depreciation is Smallest Loss in the Entire Amusement Group The six principal motion picture issues on the New York Stock Exchange dropped $125,879,532 in market value during the April bear market, but, due to the comparatively moderate number of shares outstanding in the film group, this was the smallest depreciation of any of the leading groups on the board, comparing with a loss of $539,778,126 in the six principal industrials, $363,201,402 in utilities, $226,079,870 in oils and $131,443,747 in rails. These figures, based on the market action of the six leading stocks in each of the respective groups, show that the film stocks were the heaviest losers in numbers of points for the group as a whole, mainly because of wide declines in Fox, Paramount and Loew's, which were prominent bear targets during that month of heavy short selling. However, the bluest of the market's "blue chips," U. S. Steel, lost six points more than Fox on the month, while the largest drops in the picture group were equalled or exceeded by premier issues in other sections of the list, including such highly rated shares as American Can, American Telephone and Telegraph, New York Central and Union Pacific. 15,000,000 Film Shares Out With the six film issues running up a collective total of only 14,952,383 shares outstanding, the market value depreciation was comparatively moderate in view of the fact that the six industrial issues had a total of 105,669,853 shares outstanding, the utilities 66,539,826 shares and the oils 61,399,521 shares and the rails 32,116,385 shares. Due to the series of bear raids against the issue, Paramount was the largest loser in the film group for the month, $38,523,696 in market value of the stock being wiped out in a decline of 12^ points. Fox lost the most in number of points, 13%, and dropped $33,656,032 in market value. Warners, with more stock outstanding than any of the other film shares, showed a loss of $16,483,219, while General Theatres and Loew's sold off $14,002,447 and $14,191,170 in market value, respectively. Demonstrating the strong support afforded the stock during the reactionary period, RKO showed the smallest depreciation in the group, $9,021,968. These figures compare with the following market valuation losses in leading stocks in other sections of the list: U. S. Steel $172,662,770, American Telephone $125,695,584, Standard Oil of New Jersey $114,833,052, Consolidated Gas $80,272,773, Union Carbide $78,756,501 and General Motors $70,687,500.