Motion Picture Herald (Jan-Feb 1945)

Tockefeller Unit Sell Its Stock merest in RKO Rockefeller Center, Inc., moved to relinquish interest in the Radio-Keith-Orpheum Corpora n last week with the announcement that Dillon, fad and Company, New York brokerage house, puld offer for sale 359,800 shares of RKO compn stock, representing about 13 per cent of the 'Immon shares outstanding. Upon completion of stribution, the Atlas Corporation, which on June jowned 1,329,000 common shares, will be the only Ibstantial stockholder in RKO. [in April, 1943, Dillon, Read distributed 316,328 Immon shares, 555,253 warrants, and 44,757 prerred shares of RKO Corporation in behalf of e Radio Corporation of America, and an addijmal 96,000 common shares in behalf of the bckefeller interests. In June, 1944, Lehman Brothers and Goldman, .chs and Company offered 57,337 preferred shares RKO stock owned by Atlas, thus limiting the ilas investment in the film company to common .3ck and warrants. June 1, 1943 Atlas held option krrants to buy 327,812 common shares. The outstanding warrants of RKO now carry o rights: until January 31, 1945, the holder of (e warrant may buy one-half share of RKO compn at $5, or at the rate of $10 a full share; until Inuary 31, 1950, the holder of one warrant may |y one RKO common share at $15. Icully Stresses Plan to romote New Players Before leaving Friday for studio conferences, ^ A. Scully, vice-president and general sales anager of Universal Pictures, announced in New jork that the sales and advertising departments jd devised a plan to aid exhibitors in the promoon of new Universal players and personalities. He said that Universal was making a special )propriation of several hundred thousand dollars order to facilitate the star-making plan which volved a series of institutional advertisements hich could be placed by exhibitors on behalf of ctures which introduced new players. He said niversal planned to invest appreciably in pictures hich gave new players a chance. The company, ; said, was investing considerable money in ad:rtising "Salome, Where She Danced," to introice Yvonne DeCarlo. "Universal," Mr. Scully said, "plans to make top idget pictures with unknown players, with the )pe that out of these pictures new stars will be )rn, such as we did with Walter Wanger's 'Araan Nights' which established Marie Montez." r. Scully will remain at the studio until Febru■y 10. He was accompanied by Maurice A. Bergan, eastern advertising and publicity director. 'ecency Legion Reviews en New Pictures The National Legion of Decency this week reewed 10 new films, approving nine and finding le objectionable in part. In Class A-1, unobctionable for general patronage are : "The Fightg Lady," "Hitchhike to Happiness" and "Marked r Murder." In Class A-2, unobjectionable for lults, are: "The Big Show-Off," "Double Ex>sure," "Grissley's Millions," "Practically Yours," rhe Suspect" and "Tahiti Nights." In Class B, )j actionable in part, is "Roughly Speaking." 7eneralis Foreign Press bad for 20th CenturyFox George A. Generalis, former editor of The Naomi Herald, Greek daily, has been appointed pub:ity director for foreign newspapers in the United tates and Canada for Twentieth Century-Fox, it as announced last weekend by Hal Horne, di;ctor of advertising, publicity and exploitation, r. Generalis will also assist Charles Schlaifer, asstant director, on policy matters on general ad:rtising in the • foreign press. Disney's "Three Caballeros" Seen by 1 ,300 Educators Thirteen hundred educators at the American Museum of Natural History's first Visual Aids Institute for Teachers in New York City saw a screening last Friday of Walt Disney's forthcoming RKO Radio release "The Three Caballeros." Among those present were Dr. Albert E. Parr, director of the Museum; Dr. Wayne M. Faunce, vice-director of the Museum; Dr. Charles Russell, chairman of education; Dr. Grace Fisher Ramsay, curator of school relations ; Dr. Irene Cypher, supervisor of guest services ; Dr. Frank Wheat, of the biology department, George Washington High School, New York; Dr. Paul Kennedy, assistant superintendent of schools, New York City. Also James Shelley Hamilton, executive director, National Board of Review; Mrs. Bettina Gunczy, secretary, National Board of Review; Arthur Haywood De Bra, assistant secretary. Motion Picture Producters and Distributors of America; William Levy, of Walt Disney Productions, and Rutgers Neilson, publicity manager, RKO Radio Pictures. To Meet on New Theatre Code Further consideration of provisions of the proposed new building code for New York State which would affect 750 theatres outside New York City, will be given by industry representatives at the next meeting of the advisory committee, to Edward Corsi; State Industrial Commissioner, January 19, in New York. The committee expects to complete its study of the new code in two more meetings, according to a state official. The code will go to Commissioner Corsi first, then to the New York State Board of Standards and Appeals and then it will be considered at public hearings in cities throughout the state. After the hearings, at which those interested in the code can make suggestions or criticisms, the board will consider the recommendations and then complete the code for final passage. Industry members of the advisory group have been asked to submit information about the effect of theatre ventilators on stage curtains so that fire prevention provisions of the code can be made more practical. Henry Anderson, Paramount; Martin J. Tracey, Century Circuit ; Theodore Junge, alternate for Harry Moskowitz, Loew's, and Glen H. Humphrey of Projectionists' Local No. 337 are represented on the committee. 20th CenturyFox Affiliate Of Television Association Twentieth Century-Fox has been elected an affiliate member of Television Broadcasters Association, it was announced last weekend by J. R. Poppele, president of TBA. Twentieth CenturyFox's participation in the activities of the association is in line with the film company's policy of keeping abreast of developments in television. Navy Cites RCA Laboratories A third star has been added to the Army-Navy "E" flag won in 1943 by RCA Laboratories at Princeton, N. J., O. S. Schairer, vice-president in charge of the laboratories, announced last week. In a letter to Mr. Schairer, Admiral C. C. Bloch, chairman of the Navy board for production awards, extended the congratulations of the Navy Department "to each and every man and woman of RCA Laboratories" for the high production standards maintained. RCA to Carry Generators The Actodector line of theatre-type motor generator sets, produced by the Century Electric Company, St. Louis, will be distributed in the future by the theatre equipment section of the RCA Victor Division, Radio Corporation of America, according to an announcement by F. L. Slade, manager, special apparatus division, of the St. Louis firm. RCA heretofore has not carried generators in its line of equipment. Warner Reports $6,953,462 Net For 12 Months Warner Bros, and its subsidiaries showed a net profit of $6,953,462 for the fiscal year ending August 31, 1944, Harry M. Warner, president of the company, announced in the year-end statement issued Wednesday in New York. Following his explanation of the company's financial position for the year, Mr. Warner declared that the American industry would face predicted British competition not only in the British Isles but in the world market. He pointed out, however, that territories freed from Nazi and Japanese domination would again be open to American films. Mr. Warner made reference to the petition filed by the Department of Justice in the Paramount et al suit pending in Federal Court, New York, seeking amendment to the Consent Decree whereby the big five would be required to divest themselves of theatre interest. Warners "is preparing its defense to this suit," he said. Tells of Refinancing During 1944 the petition of Warners was improved through the company's refinancing program, acquisition of the Schlesinger cartoon unit, five theatre acquisitions, and theatre site in Cairo and a film exchange site in Toronto. Inventories were $8,966,241 greater at the close of the preceding year, Mr. Warner said, listing 18 properties on the company's backlog. Gross income for 1944 was $141,183,039 compared to $131,825,540 the year before. The largest portion of the increase in income for the year, Mr. Warner pointed out, was represented by receipts from the distribution of "This Is the Army." This increase did not result in a corresponding increase in profit, since all the net receipts from the film were turned over to the Army Emergency Relief. Net Equals $1.87 Per Share The 1944 net profit was equivalent to $1.87 per share on the outstanding common stock. A comparison with the preceding year of certain items reflected in the income account is shown in the following table : Fiscal Years Ending August 31st . — 1944 1943 Gross Income $141,183,039 $131,825,540 Losses arising from the sale or other disposal of fixed assets.. 5,193,455 4,537,222 Profit before provision for Federal income taxes 20,088,462 22,128,483 Provision for Federal income taxes 13,135,000 13,890,000 Net Profit 6,953,462 8,238,483 Earnings per share of Common Stock ..." $1.87 $2.12* * After deducting year's dividend on Preferred Stock, retired August, 1943. Warners intends to continue its policy of applying all available funds in reduction of funded indebtedness, in order to place the company in a position to face the uncertainties of the future," the president declared. All Chicago Censor Passes Films for Fifth Month For the fifth consecutive month the Chicago censor board has not rejected any of the pictures viewed. For December, the board passed a record number, 97 pictures, and classified only two for adults. They were Universal's "House of Frankenstein" and "The Mummy's Curse," now double billed at the RKO Grand. Adopt Saturday Opening Loew's Columbia and Loew's Palace, Washington, D. C, have changed to a Saturday opening policy. Previously the openings had been Thursday but the change was made after Warner Bros, announced that their downtown first runs, the Earle and Metropolitan, would switch to Thursday openings. OTION PICTURE HERALD, JANUARY 13, 1945 45