Motion Picture Herald (Jan-Feb 1945)

MOTION PICTURE STOCKS IN 1944 High and Low in Stock and Bond Trading for 5 Year Period Stock and Divideml Columbia Pictures O/iA) Columbia Pictures pfd. (2%) Consolidated Film Consolidated Film pfd. (IB) B;astman Kodak (5) Eastman Kodak pfd. (6) Gen. Precision (1) Loew's, Inc. (26) Paramount (2) Radio-Keith-Orpheum 20th CenturyFox (2C) Radio-Keith-Orpheum pfd. (6) 2(tth Century-Fox pfd. (1^) aoth Century-Fox pr. pfd. (45^) Warner Brothers A — So far this year; B — Accumulated; C — Also extra (All prices are as of December 30, 1944) NEW YORK STOCK EXCHANGE — 1944 Net , 1943 , 1942 . . Sales High Low Close Change High Low High Low 104,000 23 1654 20% + 4 1954 9 1154 5% 12.300 49SA 39y8 48 + 7Vi 41 3054 54 35 24 238,900 evs 2% 5K + % 284,400 30'4 165^ 29J4 +1254 1954 7Vs 9 7 57,500 178 157 178 +17 170 14654 ISIJ^ 108 1,710 195 175 185 + 4 ■ 184 173 180 170 323,600 23% im 23^ + 354 2454 13% 14% 1054 193,100 &m 58 79>^ +21% 6454 4254 46% 37 888,600 30 23 2954 + 55^ 30 1554 175^ 1154 1,008,600 10^ 7% 954 + % 10% 354 m 2 94,135 107% 85% 915^ 8K 10154 5454 5454 34^ 764,800 285^ 21% 2SVs + 7 24% 127/1 16 7% 271,400 35H 28y4 35% + e'A 3454 25 2614 1954 12,900 106K 100 106 + 6 101 99 not listed 1,040,300 IS 1354 + 1% 15% 7H 854 454 High 7Vi 28K 154 11 1455^ 18254 1654 39?^ 16% 3% 5554 24 6% -1941 Low 45i 2154 54 7 12054 160 95i 28 10 2 3854 S 1654 NEW YORK CURB EXCHANGE -1944 Stock and Dividend ..Sales High Low Monogram Pictures 274,900 Ayi 3H Radio-Keith-Orpheum opt. war 622,100 VA 1 Sentry Safety Control 52,400 1% H Technicolor (54A.) 311,600 24?^ 1254 Trans -Lux (lOA) 148,30) 4Vs 3 Universal Pictures (2A) 105,350 26 1854 A — So far this year. Net , 1943 High Close Change Low unch. 4 % 1% H IVf. V4 11/16 + 54 H 3/16 2354 ±\ 1554 4 m 21 + 354 19% 16 -1942High Low ' 154 54 not hsted 5/16 % m 6% 154 54 44 25 -1941 High Low High 2% 7/32 1 54 % 1% 11 6% 16H 1 H m 14Vs 15% -194» Low % 3/16 Comparison of Valuation of Stock lssues-1 943-1 944 Shares Stock Outstanding Columbia Pictures 368,268 Columbia pfd 75,000 Consolidated Film 524,973 ConsoUdated Film pfd 400,000 Eastman Kodak 2,476,013 Eastman pfd 61,657 Gen. Precision 586,087 Loew's, Inc 1,665,713 Paramount 2,465,927 Radio-Keith-Orpheum 2,753,053 Radio-Ketih-Orph. pfd 128,170 20th Century-Fox 1,741,995 20th Century-Fox pfd 917,420 20th Cent. -Fox pr. pfd 500,000 Warner Bros. 3,701,090 Close 1943 16% 40^ 2Vs 1754 161 181 19% 58% 23% m 100 100 12% Valuation $6,168,489 3,028,125 1,509,297 6,900,000 398,638,093 11,159,917 11,575,218 97,860,638 58,565,766 29,433,345 12,817,000 37,670,641 26,490,502 50,000,000 44,875,716 $791,692,747 Close 1944 20% 48 554 2954 178 185 2354 7m 2954 954 9154 2m 35H 106 1354 Valuation $7,641,561 3,600,000 2,756,007 11,800,000 440,730,314 11,406,545 13,626,522 133,048,825 72,128,364 25,465,740 11,727,555 49,864,606 32,453,732 53,000,000 49,964,715 $919,214,486 + 4 + 7Vs + 2% +1254 +17 + 4 + 3-4 +21% + 554 + H 854 + 7 + 654 + 6 + IH Net Chcinge -f $1,473,072 + 571,875 + 1,246,710' + 4,900,000' + 42,092,221 + 2^,628+ 2,051,304 + 35,188,187 + 13,562,598 1,032,395 1,089,445 12,193,965 5,963,230' 3,000,000 5,088,999' -1-$127,521,739' (.Continued from preceding page) ing gain of more than 21 points during the year, also was in good demand on the stock exchange as a result of developments affecting the company's financial structure. One of these was a recommendation by the board of directors that the authorized common stock capitalization be increased from 4,000,000 to 6,000,000 shares. The directors early in December suggested a special meeting of stockholders to V consider the proposal, which, if ratified, would envisage a split-up of the present common stock on a three-for-one basis and the placing of the new common stock on a $1.50 annual dividend rate. Meanwhile, Loew's directors declared an extra dividend of $1.50 a share on the common stock in addition to the regular quarterly payment of 50 cents, payable December 30 to stockholders of record December 19. The market valuation of Loew's at the end of the year stood at $133,048,825, compared with $97,II 860,638 at 1943's close. ' In addition to developments which called at > ■ tcntion to individual film stocks, motion pic ture issues reflected the rising tempo of the general list, which was spurred by indications that the end of the war was not as near as was popularly believed during the summer and early autumn. There has been a tendency in Wall Street to unload stocks as a precautionary measure whenever the signs point to an early peace on the theory that the transition period from war to peace may be attended by considerable financial instability. Consequently, the cold water dashed on such predictions by the late 1944 German offensive, the increased demands for manpower and war materials and warnings by Government and military officials that the end was not in sight prevented any "peace scare" selling operations and brought a general demand that gave the market a rising tempo as the year closed. With the knowledge that a goodly portion of the country's income goes into motion picture box offices as the major form of relaxation from war strain, figures of the Department of Commerce in Washington showing national income at a new high also served to draw attention to film shares. National income for 1944 was estimated at the record figure of $158,000,000,000, compared with $147,900,000,000 for 1943, while consumer expenditures for goods and services were estimated at $94,700,000,000,. against $91,000,000,000 in 1943. Among individual performers on the Stock Exchange, Eastman Kodak again was outstanding, rising 17 points during the year to a a close of 178, which represented a gain in market valuation of $42,092,221 from $398,638,093 at the end of 1943 to $440,730,314 at 1944's end. Warner Brothers topped the list in activity with a turnover of 3,701,090 shares for the year. The stock rose to $49,964,715 in market valuation from a 1943 close of $44,875,716. . There was a good demand for 20th CenturyFox common, spurred by declaration of an extra dividend of 25 cents a share payable tO' stockholders of record Nov. 15. The company reported for the 39 weeks ended Sept. 23 a net income of $9,487,929, compared with $9,007,114 for the 39 weeks ended Sept. 25, 1943. Twentieth Century common rose seven points for the year, the preferred 6^ points, and the prior preferred six points. 14 MOTION PICTURE HERALD, JANUARY 6, 1945