Motion Picture Herald (Mar-Apr 1947)

Paramount Puts 1946 Net Profit At $44,040,000 Earnings of Paramount Pictures during 1946 amounted to $44,040,000 after all charges including estimated provision for income taxes, setting a record high for the company's entire history. The figure, which is based on an estimate, also tops by more than $26,000,000 the earnings for 1945, which amounted to $17,952,432. The 1946 figure includes $4,840,000 representing Paramount's direct and indirect net interest as a stockholder in the combined undistributed earnings for the year of partially owned non-consolidated subsidiaries. The period covered in the report extends through the 53 weeks ending January 4. 1947. Earnings for the quarter ending January 4, 1947, also were high, topping the figure for the corresponding period in 1945 bv some $6,000,000. The $10,163,000 income was estimated after elimination of the dividends received during those 14 weeks from partially owned non-consolidated subsidiaries to the extent that such dividends represent distribution of earnings reported as undistributed in previous quarters. The $44,040,000 yearly earning of estimated combined consolidated and share of undistributed earnings represent $5.92 per share on the 7,443,772 outstanding shares in the hands of the public at the end of the last quarter. This compares with $2.39 per share for the year ended December 29, 1945. Estimated earnings of $10,163,000 for the last 1946 quarter represented $1.37 per share. Three Drive-ln Theatres For Washington, Indiana A Prive-In theatre for Walla Walla, Wash., has been announced by S. J. Gregory, vice-president and general manager of Midstate Amusement Corp., which operates 17 theatres in southeastern Washington. A second Drive-In theatre is being constructed near Anderson, Ind., by Midstate's parent company, Alliance Theatre Corp., of Chicago. A third theatre has also been announced by the circuit for the Pasco-Kennewick area in Washington. MR. TRUMAN SAYS MAYBE Commonwealth Gets 16mm Rights to 80 Features Commonwealth Films of New York has acquired the 16mm non-theatrical rights to 80 feature pictures and four serials, it has been announced by Sam Goldstein, president. Through United World, Commonwealth has acquired the 16mm domestic rights to 40 Universal features and four serials, and through Magnus Films the company has acquired the 16mm domestic and foreign rights to 40 United Artists features. Both contracts are for seven years. Acme Photo Left to right around President Truman at the White House Monday are N. Peter Rathvon, RKO president; Nicholas M. Schenck, Loew's, Inc., president; Barney Baiaban, Paramount Pictures president, and Eric A. Johnston, MPA president. Washington Bureau PRESIDENT TRUMAN didn't say "no" and he didn't say "yes" to the industry delegation which invited him Sunday to the Motion Picture Association's twenty-fifth anniversary dinner to be held in New York May 8. Mr. Truman told the industry leaders that his schedule at that time made the New York dinner impossible, but he sug gested that Eric Johnston, MPA president, check with him later. The industry delegation, which had a 15-minute interview at the White House with the President, was composed of Mr. Johnston, Nicholas M Schenck, N. Peter Rathvon and Barney Baiaban. One of the reasons why "the President may not be able to attend is that May 8 is his sixty-third birthdav. Praises Screen As World Force Honoring the thirtieth anniversary of the Associated Motion Picture Advertisers, New York, president Truman has written to Rutgers Neilson, outgoing AMPA president, praising motion pictures as a "great force in enlarging the horizons of peoples every■ where." The letter follows : "On the occasion of the thirtieth anniversary of the Associated Motion Picture Advertisers it is appropriate to note the important contribution made by your organization to the development of the motion picture industry. "Motion pictures have been and will continue to be a great force in enlarging the horizons of peoples everywhere and your part in bringing to public attention the best efforts of the industry is to be commended. "I trust that increased opportunity for useful service to the public will be yours through the years." Howard Dietz, vice-president of Loew's and director of advertising and publicity for MGM, will be master of ceremonies at AMPA's thirtieth anniversary dinner dance in the Hotel Astor, New York, April 23, honoring the presidents of the industry. Chaplin's "Monsieur Verdoux" Opens at the Broadway Charles Chaplin's "Monsieur Verdoux" was to open Friday night at the Broadway theatre, New York, on a reserved seat basis with prices ranging from $3.60 to $1.80. Thereafter the feature will run on a continuous basis with a block of 250 seats reserved for two showings daily. The matinee reserved seats are priced at $1.80; the evening seats at $2.40. MOTION PICTURE HERALD, APRIL 12, 1947 15