Motion Picture Herald (Mar-Apr 1947)

Short Product in First Run Houses Precision Net in Year $1,742,694 General Precision Equipment Corporation reported this week consolidated net profit of $1,742,694 for the year ended December 31, 1946. The net was equivalent to $2.90 a share on the 601,087 shares outstanding at the end of the year as compared with $1,390,954 or $2.31 per share on the same number of shares in 1945. Consolidated net sales for the year amounted \o $23,261,996, compared 'with $25,484,122 in 1945. The report says the net was arrived at after estimated Federal income taxes but before credit for special items in the net amount of $340,256. Special items consist of the book profit of $890,301 realized on the sale of 39,600 shares of Twentieth Century-Fox Film Corporation common stock sold during the year at an average price of $49.50 per share, less the write-off of $550,045 representing the excess cost of investment in subsidiaries acquired in 1944 over their applicable book value at acquisition. In a letter to stockholders, Earle G. Hines, president, said that the manufacturing activities of various subsidiaries were adversely affected by labor disturbances and a consequent shortage of certain materials. Film Salesmen's Union Names Bargaining Unit The newly formed Colosseum of Motion Picture Salesmen of America this week appointed a three-man committee to act as bargaining agent in the organization's dealings with the distributors. The committee was named late last week at a union meeting at the Continental Hotel, Chicago. It will be assisted by David Beznor, Milwaukee lawyer and counsel for the group. The committee includes Arthur M. Van Dyke, of Chicago, national president of the Film Salesmen's Union; N. Provencher, Milwaukee, national executive secretary, and M. F. Keller of Portland, Ore., executive vicepresident of the national group. The three men will seek audiences with distributor executives at the home offices in the near future. Skouras Withdraws Offer To Purchase Securities The offer of Charles P. Skouras, president of National Theatres Company and Fox West Coast, to purchase bonds and voting trust certificates of the Ambassador Building Corporation and the Missouri Theatre Building Corporation, has been withdrawn as of March 31, according to St. Louis advices. Holders of the securities were notified to that effect a few days before the deadline. It is understood that Mr. Skouras and has associate, Clarence M. Turley, already have control of the Missouri corporation and have about reached control of the Ambassador. NEW YORK— Week of March 31 CAPITOL: Calling on Costa Rica MGM Part-Time Pal MGM A Gun in His Hand MGM Feature: It Happened in Brooklyn. . MGM CRITERION: The Tennis Wizards Columbia Feature: Johnny O'Clock Columbia GLOBE: Yo u're an Education. . .Warner Bros. Feature: The Red House United Artists HOLLYWOOD: American Album of Sports Warner Bros. Rabbit Transit Warner Bros. Feature: Nora Prentiss Warner Bros. MUSIC HALL: Double Dribble RKO Radio Son Francisco RKO Radio Feature: The Late George Apley. . .20th Cent.-Fox PALACE: Campus Boom RKO Radio Feature: Sinbad the Sailor RKO Radio RIALTO: Queens of the Court ... .Paramount Stork Crazy Paramount Feature: Dangerous Millions 20th Cent.-Fox R/VOU: Ice Skippers RKO Radio Pepito's Serenade United Artists Astor Pictures Resigns From MPA Title Bureau Astor Pictures has resigned from the Title Registration Bureau of the Motion Picture Association. As did Eagle-Lion, Astor complained that the titles registered by the large companies were so numerous that those filed by the independents inevitably conflicted. Astor Pictures is not an MPA member company and the title service was rendered it gratis, as it is to all companies outside the Association. According to Margaret Young, head of the title bureau, both Eagle-Lion and Astor Pictures had only been members of the title section for a few months. During that time Astor registered nine titles, with two resultant protests. Eagle-Lion registered two, and had one protest. Metropolitan Playhouses Suit Against Hanover Dismissed The suit for accounting of funds by Metropolitan Playhouses against the Hanover Bank and Trust Company was dismissed last week in New York Supreme Court. Judge Lloyd Church said the complaint as drawn challenged the validity of rights conferred upon the bank by a 1935 Federal Court decree of reorganization under the Bankruptcy Act. De Rochemont UW Project In Discussion Stage Negotiations between United World, the 16mm non-theatrical subsidiary of Universal Pictures, and producer Louis de Rochemont, for the production of a series of short color subjects on world geography are going on, but, contrary to published reports, the deal has not been signed and is still in the discussion stage. It is understood that it would involve 86 shorts over a two-year period. The company is said to be ready to support the project with a $3,200,000 budget. The first batch of films would vary in length Feature: The Farmer's Daughter RKO Radio ROX1T: Mighty Mouse Crying Wolf 20th Cent.-Fox The Teachers' Crisis 20th Cent.-Fox Feature: Carnival in Costa Rica. . . 20th Cent.-Fox STRAND: Birth of a Notion. .. .Warner Bros. Saddle Up Warner Bros. Feature: Pursued Warner Bros. WINTER GARDEN: Miniature Musical.Universal Feature: Stairway to Heaven Univ.-lnt. CHICAGO— Week of March 31 CHICAGO: G.I. Hobbies Paramount Feature: My Favorite Brunette Paramount G4RR/CK: Snow Man 20th Cent.-Fox Feature: 13 Rue Madeleine 20th Cent.-Fox GRAND: Smoked Ham Universal Feature: Smash-Up Universal-lnt. ROOSEVELT: Goofy Gophers. .. Warner Bros. Feature: Pursued Warner Bros. UNITED ARTISTS: Henpecked Hoboes.. MGM Feature: The Secret Heart MGM from two to three reels, and would be divided into series of 12, designed for use by students in the fourth, fifth and sixth grades of elementary schools. They would be ready for use during the school term beginning September, 1948. Scripts for the shorts are now being outlined by Dr. Wallace W. Atwood, president emeritus of Clark University, and his staff. In these educational color subjects, Mr. de Rochemont would attempt to combine the presentation of factual material with cinematic values. PCCITO Asks Executives To Attend Convention Executives of the industry have been invited to the national convention of the Pacific Coast Conference of Independent Theatre Owners to be held at the Ambassador Hotel in Hollywood May 6-8. Besides the sales heads of all distributing companies, those invited include Eric Johnston, president of the Motion Picture Association; Donald Nelson, president of the Society of Independent Motion Picture Producers; Jack Kirsch, president of Allied States; Abram F. Myers, general counsel of Allied; Fred Wehrenberg, president of the Motion Picture Theatre Owners of America, and Herman Levy, general counsel of MPTOA. McCullough at Fire Conference John B. McCullough, acting director of the Conservation Department of the Motion Picture Association, has been designated as a member of the Committee on Organized Public Support in the President's Conference on Fire Prevention by Eric Johnston, MPA president. The Conference has been formed to arouse the nation to the high fire losses, which amounted to $64,000,000 in February of 1947 alone. The meeting, under the chairmanship of Major General Philip B. Fleming, got under way in Washington April 1. 40 MOTION PICTURE HERALD, APRIL 5, 1947