Motion Picture Herald (Jan-Feb 1945)

NEWSREEL VETERANS RETURN By Staff Photographer TWO Universal Newsreel cameramen who for almost three years have covered the war in the Mediterranean and the Pacific without respite, returned to the comfort, and the honors, of the home front last week. They were the company's guests at a cocktail lunch in the Hampshire House, New York. Above, the cameramen, Irving Smith and Earle Crotchett, in war correspondents' uniforms, flank Thomas Mead, Universal Newsreel managing director, while at the left is the company's eastern division manager, Frank McCarthy, and at the right, the vice-president and general counsel, Charles Prutxman. Loew Year Profit Is $14,517,256, Gain Over 1943 Loew's, Inc., and its subsidiaries had net income for the fiscal year ending August 31, 1944, of $14,517,256, after taxes, the company announced in its annual report to stockholders issued in New York Wednesday. The net income was equivalent to $8.61 per share on 1,685,109 common shares outstanding. It compared with $13,422,853 for the preceding year, or $8.01 per share on 1,675,213 shares then outstanding. Loew's reported total current working assets of $102,205,125, which included inventories of $66,165,617 and $7,957,953 in cash in foreign countries other than neutral nations in Continental Europe. Of the $7,957,953, $6,441,326 has since been received in the United States. Additional net assets in these foreign countries amounted to $11,862,450.' Net assets in neutral countries in Europe amounted to $310,750. The company's total funded debt was $31,893,507. Earned surplus amounted to $79,678,733, but the report pointed out that "no dividend or other distribution, except in the company's capital stock, nor purchase, redemption or retirement of common stock may be made, except to the extent of consolidated net earnings accrued after August 31, 1941, plus $10,000,000 (surplus thus restricted is approximately $49,900,000) and unless (after such dividend or distribution) consolidated current and working assets shall be at least twice the consolidated current liabilities." A special meeting of stockholders has been called for March 29 to vote on the recommendation of the board of directors to split the common stock on the basis of three new shares for each share of old. The proposed amendment of the certificate of incorporation to provide a sufficient amount of common stock for the split also includes the elimination of all authorized, preferred stock, none of which is outstanding. 20th-Fox Votes Dividends On Three Securities The board of directors of Twentieth CenturyFox Film Corporation February 15 declared a quarterly cash dividend of $1.12yi per share on the outstanding prior preferred stock of the corporation, payable March 15, 1945, to stockholders of record February 28. A quarterly cash dividend of 37y2 cents per share on the outstanding convertible preferred stock also was declared, payable March 30 to stockholders of record February 28, 1945. A regular quarterly cash dividend of 50 cents per share on the outstanding common stock is payable also March 30 to stockholders of record February 28. Bigelow-Sanford Shows Net °Of $1,025,750 in 1944 The Bigelow-Sanford Carpet Company preliminary annual report for 1944, issued last week, showed a net profit of $1,025,750 after all charges, including $802,000 provision for taxes. This is equivalent, after preferred dividend requirements, to $2.81 each on the 308,609 common shares outstanding at the year's end. Net income for 1943, including a $650,000 refund of 1941 taxes, was $937,972, or $2.48 a share. Monogram Announces Dividend Monogram February 15 declared a 1354 cent dividend on its 5]/i per cent cumulative convertible preferred stock, payable March IS to stockholders of record March 1. Philco Declares Dividend The board of directors of Philco Corporation has declared a dividend of 20 cents per share on the common stock, payable March 12, 1945, to stockholders of record February 24. Bulk of Zanuck's Stock Goes to Trust Fund The sale of 42,000 shares of Twentieth CenturyFox common stock January 23 by Darryl F. Zanuck, as reported last week by the New York Stock Exchange, leaving the Twentieth Century-Fox vice-president and director with only 129}/2 common shares held directly in his name, carries no significance insofar as his association with the company is concerned, Mr. Zanuck said in Hollywood last week. He explained he maintains an irrevocable trust fund in the name of his children, to whom the large block mentioned in the report now belong under trust codicils. St. Louis Variety Club Names Year's Committee Chairmen Chief Barker Albert Stetson of the St. Louis Variety Club has appointed the following committee chairmen for 1945 : Herbert Washburn, bookers ; Henry C. Riegel, Jr., privilege men ; Harry C. Crawford, side show ; Sam Levin, the law ; Barney Rosenthal, the heart; M. L. Plessner, the billers; Joseph C. Ansell, the payoff ; Matt Schulter, ducat peddlers ; Tom Canavan, the shills ; Harry Crawford, back slappers ; Albert Wheeler, ceremonial barkers ; Benny Rader, windjammers ; Tony Peluso, play boys ; Andy Dietz, tent pitchers, and Louis K. Ansell, advance men. L. & P. Theatres Acquire Locations for Theatres L. & -P. Theatres, Inc., have leased and purchased property for theatre sites in La Salle, 111. Abner I. Klein, secretary of the L. & P. Theatres, Inc., announced that they had leased a triple store building at 620-32 First Street for a term of 25 years. They have also purchased property on which they plan to erect a 1,200 seat theatre. L. & P. Theatres, Inc., is owned jointly by Alger Theatres and Publix Great States Theatres, Inc. Rank Owns 20 Per Cent of Universal Common Stock J. Arthur Rank, through his British company. General Cinema Finance Corporation, owns 134,375 shares of Universal Pictures Corporation common stock, approximately 20 per cent of the stock outstanding, according to the proxy statement sent to Universal stockholders last week. Mr. Rank is a member of Universal's board of directors and will be proposed for reelection with other members at the annual meeting of stockholders March 14 in Wilmington, Del. Other directors are: Nate J. Blumberg, Paul G. Brown, Daniel C. Collins, J. Cheever Cowdin, Preston Davie, William J. German, John J. O'Connor Ottavio Prochet, Charles D. Prutzman, Budd Rodgers, Daniel M. Sheafer, W. H. Taylor, Jr and Cliff Work. According to the statement, remuneration paidj to officers and others last year was as follows Mr. Blumberg, $230,523; Mr. Cowdin, $230,523 Mr. O'Connor, $52,311; Mr. Prutzman, $131,879 Mr. Rogers, $24,169; Mr. Work, $160,479; Har old Brewster, assistant treasurer, $29,200; Sam Machnovitch, treasurer, $27,595 ; Adolph Schimel assistant secretary, $22,950; W. A. Scully, vice president, $147,479 ; Joseph H. Seidelman, vicci president, $131,879; Eugene Walsh, assistant treasurer, $22,950'; Mathew Fox (in armed forces) $41,150 and Samuel Pinanski, commission oti financing, $40,000. Fields to Mexico for RCA J. L. Fields, formerly assistant chief of sale and operations in the Hollywood plant of ILCA Victor, has been appointed to the staff of RC^ Mexican, South America, as technical consult^ ant to RCA film sound recording licensees ii| Mexico. His headquarters will be in Mexico City. Mr. Field has been associated with RC^ Victor in Hollywood since 1936. In 1940 he as sumed responsibility for the company's recordin equipment rental program in Hollywood. Projectionists Elect Officers At a meeting of the Camden, N. J., projection ist's local 418, lATSE, the following officers wer elected: Harry Langfeld, president; Ralph AlleiJ vice-president; Frank Hauss, business agentj Leoi Cohen, recording secretary; Alex Stein, financia secretary; Frank Bolton, Irving Dantis, Alle Schaffer, executive board ; John Murphy, Ab Feldman, Sam Hirsch, trustees; Frank Schofielc sergeant-at-arms. Rennodel Portland Theatre The Gaiety theatre, Portland, Ore., closed f(J three weeks, will be entirely remodeled, and wii open late this month with a new entertainmeri policy. The house is owned by Harry A. Farro^ San Francisco, and managed by Andrew Sauciei Paramount To Pay 50 Cents \ Paramount Pictures, Inc., February IS declare, the regular quarterly dividend of SO cents per shaii on its common stock, payable March 30, 1945, ti the holders of record March 9. Witte Joins PRC ! Fred Witte has joined the PRC sales stafi covering the Toledo territory, Mark Goldmai branch manager, has announced. 50 MOTION PICTURE HERALD, FEBRUARY 24, 194