Motion Picture News (Nov-Dec 1925)

2640 Motion Picture N e tv s St. Louis Amusement Company Dividend Shows Increased Value of Stock THE Board of Directors of the St. Louis Amusement Company on November 19 announced that a dividend of $1.12% per share on the class A capital stock of the company had been declared. This places the stock on a $4.50 annual basis. When it was offered for sale to the public it was stated that the stock would pay $3 annually and it was subscribed for $37.50 a share after a banking syndicate had underwritten the issue at $30 per share. Almost immediately the stock jumped to $50 a share and from that point moved forward until the $60 mark was exceeded. Last week the stock suffered a slight relapse, slumping off to $55 per share, but this week showed a decided recovery and was at $62 on the close Wednesday, November 18. The $1.12% dividend is payable on January 2, 1926, to stockholders of record at the close of business on December 19. The books of the company kept by the Mississippi Valley Trust Company and the Mercantile Trust Company, a Transfer Agent and Registrar respectively will be closed on December 19 and be re-opened for transfer on January 2, 1926. The increased dividend on this stock has been anticipated in inner financial circles as the earnings of the various neighborhood theatres operated by the company have greatly exceeded the expectations of the company officials when the $3 annual dividend was first decided on. It is expected that Skouras Enterprises will also be placed on a higher dividend basis as the company has a substantial interest in the St. Louis Amusement Company. The latter company is controlled by Skouras Brothers and Harry Koplar. It is operating twenty-one theatres in St. Louis and St. Louis County and has plans for two more big theatres, one of which is already under construction. Kansas City In Building Boom Many Plans Launched for New Theatres Throughout Missouri Territory MANY plans for new theatres in Kansas City and surrounding territory give promise of one of the most marked building booms in many years in the Western Missouri city. An office building, housing the largest motion picture theatre in Kansas City, now is under consideration for a site at Thirteenth and Main streets. The largest house at present is the Main street, with seating capacity of 3,500. The completion of the deal depends upon the exercising of an ption held by the Midland Theatres Company. The Midland Company, which controls the site, 177 x 109 feet at the northeast corner of Thirteenth and Baltimore, would join this property with the northwest corner of Thirteenth and Main streets, 121 x 130 feet, owned by H. M. Wolff, who is interested in the Midland Company. Mr. Wolff now is in Xew York, but consummation of the deal is expected in a few days. Then, in Manhattan, Kas., the Miller Construction Company is building a new 800seat house, which will be completed soon. The manager of the theatre has not yet been named. At Thirty-eighth and Main streets. Kansas City, the city's finest suburban house is progressing rapidly. November 17 saw the completion of the prize contest in naming the theatre, which will be known as the Madrid. The prize winner, Miss Alma Bates of Kansas City, received a season pass and $15 in gold. The theatre, which will be under the management of Jack Roth, will be completed some time in January. But construction is not being confined to theatres alone. Dr. N. Zoglin of Kansas City has announced that he will erect a 2-story building with a 50-foot frontage at Eighteen and Wyandotte streets — the heart of Kansas City's movie row — to house film exchanges. F. B. O. and the Exhibitors' Poster Exchange already have leased space. New Support Backs Exchange Atlanta Board for Fulfillment of Contracts With Sale of Theatres THE Atlanta Film Board of Trade has fallen in line with the St. Louis Board and others throughout the country, and adopted a resolution pledging support to exchanges in demandine* that exhibitor contracts for film be carried out regardless of the sale or transfer of houses. The many theatre sales or transfers in recent months in the Atlanta territory have made a ruling of this kind imperative. There have been many instances where contracts entered into by former owners were not fulfilled nor assumed as an obligation by the new owners. It is said that in some < f these cases mere transfers were made of a house from one member of a family to another in order to avoid the carrying out of a contract or contracts for pictures. The exchanges are considered entitled to more consideration in this matter and it was for the fairness of this protection the Atlanta resolvton was passed. This ruling is by no means intended as a hardship upon future buyers. In fact if an exhibitor can show he is overstocked on pictures he has recourse to the Board of Arbitration, which will reduce unplayed pictures by cancellation. Kxelianges have asked this support as a protective measure and not with the idea of interfering with the legitimate rights of an e hibitor to sell his theatre. They only intend to protect their own interests by insisting: that contracts be carried out. Charnas Interests Acquire Toledo House Xat Charnas of Toledo, in Cleveland the other day, stopped only long enough to say that he and his associates have just bought the property of the Diamond theatre, Broadway, Toledo. They will operate the Diamond as it stands for a while, but it is intended that they will build a fine new theatre on the site within a few years. Charnas further stated that he is negotiating for another site in Toledo — a neighborhood site this time. Charnas is interested in the Strand, Superior, Lyric and Diamond theatres, all of Toledo. The Rivoli and the Xew Palace, just opened and managed by Howard Feigley, is included in a booking combine which also includes the other Charnas houses. On top of all this announcement of improvements and acquisitions, Charnas says that the picture business in Toledo is great. Margaret Livingston Signs New Fox Contract Margaret Livingston has signed a new contract with Fox, an optional agreement having been taken advantage of by the producing company two months before the expiration of the old agreement. Miss Livingston is now working in the Fox screen A'ersion of John Golden's stage success. '"The First Year," which is being directed by Frank Borzage. She will next have the feature role in "A Trip to Chinatown." Ray Ordered to Pay First National $20,000 Charles Rav has been ordered to pav First National $20',000 by Federal Judge" P. J. MeCormiek as the outcome of a suit brought against the star by the producing company for two debts with interest. Suit was started in July, 1924. Rothschild Re-enters Exhibition Field HERBERT L. ROTHSCHILD, long associated with San Francisco theatricals, has re-entered the exhibition field. Announcement was made that he had purchased an interest in both the Alexandria theatre at Geary & 18th avenue, and of the Coliseum at 9th & Clement. .Both houses will henceforth be under his direction and he will maintain a presentation standard at the two district houses on a level with that of downtown houses. A complete renovation of these two theatres is planned; among the alterations included are immediate installation of modern stage and projection facilities. It will be necessary to equip both the Alexandria and Coliseum stages with up-to-date machinery to make possible the standardization of presentations at these houses. San Francisco will be the first city in the United States to elevate neighborhood theatre operation. Harry L. David, who has been manager of the Grand Theatre, has become associated with Herbert L. Rothschild Entertainment as general manager, in complete charge of future operation of the first two houses acquired.