Motion Picture Herald (Apr-Jun 1931)

18 MOTION PICTURE HERALD May 3 0, 1 9 3 1 Stock Exchange 1931 Range High Low 15 38^ 98 27 S0J4 2Vs 6V2 2V/2 42 20?^ 4054 5 1354 1261/2 , 1154 m 37 83 2434 2Wi 1 3 12^ 24 Stock & Div. Amer. Seating Cons. Film Cons. Film pf. (2) Eastman Kodali (8a) .. Fo.x Film A (4) Gen. Thea. Eq Loew's, Inc. (31)) Loew's pf. (6.50) M-G-M pf Para-Pub. (2.50) Pathe Pathe A Radio-Keith-Or. A Univ. Pic. 1st pf. X (R). Warner Bros Warner Bros. pf. (3.S5).. Sales in lOOs) High Low 21 14 494 846 118 369 0 15 726 40 17 547 731 17 14 142% 15-4 41^ %Wi 26^ 26JI 3M 1554 554 15 (X) 10 share lots. (a) including extras. (b) plus extras. Curb Exchange 22 65/s 3154 24 354 1554 1354 10 20 1 654 65i Columbia Pic. (154a) Columbia Pic. vtc. (15^a).. Fox Theaters A Gen. Thea. Eq. cv. pf. (3). Nat. Screen Serv. (2) Sentry Safe Con Technicolor Trans-Lux DPS (A) plus 5 p.c. in stock. 55i m'i 12651 1234 35^8 37 8554 2434 2m 1 354 1254 5 1054 Wed. Net Close Change 14 12854 1454 354 3754 8554 2434 22M 1 354 1254 54 \i -1254 15^ % 254 + 54 2 4 54 54 2Vi 55^ -f Vi 11 10 10 30 3 2/2 254 20 6 6 1 2054 2054 2054 7 1 1 22 m 654 6Vs 43 754 654 6Vs High Low 1 7 J 1 Range 76 29 99H 94 105 10054 97 9654 89J4 72 89 51 7454 25 70 Bonds on Slock Exchange Bond & Maturity (in lOOOs) High Low Close Change Sal Thur 385^ 29 30 96 9554 9SJ4 102 10014 10054 86 82 82 7554 72 72 83 815^ 82^ 345^ 3054 3354 Gen. Thea. Eq. Cv. 6s '40.. 154 Loew's 6s '41 54 Para.-Bwy. 55<s '51 16 Para.F.-L. 6s '47 16 Para. -Pub. 55^.s '50 58 Pathe 7s '37 ww 48 Warner Bros. cv. 6s '39 159 Bonds on Curb Exchange Anier. Seat 6s '36 15 63}4 6354 Produce Exchange Stocks Color Pic 3 2 2 Photocolor 10 31c 31c Roxv 6354 2 31c Net 75i + 54 a — 2 — 4 + a + 154 Over the Counter Stocks Bid Aslced R"^y H 154 Roxy A (3.50) 934 1054 Roxy units 10 IIJ4 EXCHANGE QUIZ LOWERS FILM ISSUES Liquidation and a Lack of Demand Also Contribute to Steady and Heavy Selling By THE ANALYIST With the New York Stock Exchange senciing questionnaires to members in a checkup on short-selling operations, picture stocks were subjected, with the rest of the market, to another selling wave that carried Paramount, RKO, Eastman, Loew's and others to record lows during the week. Startling revelations concerning bear raids against amusement stocks were reported to be impending as a result of the probe and there were whispers of "sharp practices," "dissemination of false rumors," etc., but in view of the market's continued reaction following announcement of the stock exchange action, indications were that some of the persistent reaction experienced not only in film issues, but in all sections of the list, including seasoned "blue chips," could be attributed to liquidation and lack of important demand. At any rate, the stock exchange action did not immediately "spike the guns" of the hear crowd, which turned its heavy artillery on Eastman Kodak and Paramount, forcing both down to new lows. Kodak sold down to 126>^, where it was off more than 13 points on the week and more than 59 points below its high for the year. As the company issues only annual earnings reports and showed a lower net for 1930 than for 1929 it was evident that the company's earnings for 1931 were being subject to considerable downward revision in the minds of the speculative fraternity. Paramount sold down to levels where it was reported to be nearing the point at which a reported group is desirous of snapping up large blocks of the shares. Its low this week represented a decline of more than Hollywood Offi ces Of ''Herald" Move Quigley Publications, publishing Motion Picture Herald, Motion Picture Daily, Hollywood Herald, Belter Theatres and The Motion Picture Almanac, has moved its West Coast headquarters to the Pacific States Life building. Vine and Yucca Streets, Hollywood, Cal. 29 points from the year's high and was a loss of more than 5 points for the week. The inter-booking agreement with Warners came into the news again this week, being reported all ready for signature, a step that would enhance earnings prospects of both organizations to a high degree. Retirement of Goldman, Sachs & Co. and Hayden, Stone & Co. from the affairs of Warner Brothers apparently was a constructive step if action of the company's stock can be used as a criterion, Warner shares showing up as one of the steady features of the week. The stock held closely around 5 throughout the period. The earnings report for the company's second quarter (which appears in detail elsewhere in this issue) had already been more or less discounted by the stock's recent deflation and some encouragement was derived from the fact that picture and theatre operations showed a net profit, although the company was placed "in the red" bv its radio subsidiaries. Reports that Wa rners were in need of immediate additional cash were discounted in financial circles, where it was reported the company Paramount Cancels $750,000 Additional 20-Year Gold Bonds Paramount Publix Corporation on Wednesday delivered to Chase National Bank, New York, as trustee, $750,000 par value of its 20 year 5yi per cent sinking fund gold bonds dated August 1, 1930 for cancellation in compliance with the indenture under which these bonds were issued and which provides for retirement of $750,000 par value of these bonds on August 1st of each year under a sinking fund provision. The bonds were purchased in the openmarket and are being cancelled now instead, of on August 1, 1931, leaving outstanding $14,250,000 par value of this issue which was originally $15,000,000. 44 U. S. Sound Devices in 242 Czech Wired Houses Czechoslovakia has 242 wired theatres, according to the U. S. Department of Commerce, 44 of which have American-made equipment. Other equipment is divided among the following manufacturers: Klangfilm, 88; Kinophon, 28; Nitzsche. 16; Powerphone, 15; and Belcanto, 13. has sufficient funds to nav off, if necessarv, bank loans of $2,500,000. ' Warner convertible 6 per cent debentures reflected steadiness in the common stock by a steady upswnng from their recent low. Fox was subject to a large turnover during the week, but moved within a comparatively narrow range and held above the low touched in the previous week. Some selling of the stock in anticipation of the earnings report was in evidence. Loew's displayed less resistance to reactionary tendencies than recently and sold off to a new low for the year, while comparatively narrow price movements took place in others of the picture group.