The Moving picture world (November 1925-December 1925)

December 12, 1925 MOVING PICTURE WORLD 531 Universal Acts Theatre Acquisition Everywhere Seems On the Increase; Chicago an Example Ascher Brothers^ Schedule in Windy City One a Month — Seven Deals Reported from Pittsburgh Within a Few Days By Sumner Smith THE acquisition of theatres by all branches of the industry goes merrily on until it must be concluded that the various important elements of the industry are consolidating their battle fronts for the biggest action to date in the struggle for existence. Many companies also are building new houses throughout the countries, for instance the Ascher Brothers in Chicago, with the opening of one a month through to the Spring. Lynch Theatres, Inc., step into the limelight this week with the opening of the Lido at Maywood, 111., and progress on the erection of the Vogue at Chicago avenue and Monticello, Chicago. Glancing at other territories we find that in and about Pittsburgh no less than seven theatre deals have been consummated within the past few days, that the Butterfield Enterprises have acquired the Fred Wuerth string in Ypsilanti and Ann Arbor, that Warner Brothers are apparently negotiating for two Albany theatres and one in Glens Falls, N. Y., that the Newf England Theatres Operating Company of Boston is growing fast, that William Goldman has another second-run house in St. Louis, that William Fox is supposed to be planning a big St. Louis first-run house and also establish a chain of second-run houses or become interested in some such chain now established. But read on. UNIVERSAL also is to have a separate theatre organization. A story released to the press by Dillon, Read & Co., Wall street bankers, asserted that Universal theatres will ultimately num« ber 1,000. Universal Chain Theatres Corporation, just formed, will embrace the ninety-three houses now owned by Universal, including ownership in the Hostettler, Schine and Sparks circuits. An issue of $4,000,000 of 8 per cent, preferred stock, each share selling at $100, will be floated by Shields & Company. Universal pledges itself to take $1,000,000 of the second preferred for its interest in the ninety-three houses. Carl Laemmle, president of Universal, agrees to pay cash for $1,000,000 of the second preferred. This stock is 8 per cent, convertible. The capitalization provides for $2,000,000 of this stock. Each share of the preferred will carry with it one share of the common. Dividends will be paid quarterly. The company intends to provide a sinking fund, beginning in 1927, sufficient to retire $200,000 preferred each year. Carl Laemmle verified the fact of a separate theatre organization. "Exhibitors have proved," he said, "that it is possible to unify theatre chains and operate them much more economically than could be done if they were operating as individual units. "As indicating its confidence in the success of the new company. Universal is willing to sell to it all or nearly all of the theatres which it has rerecently acquired. The very best theatre brains in the world will be engaged to run this chain. No effort will be spared to put it on the most efficient andl money-making basis. The only thing in the minds of my associates and those who have invested moniey in this proposition is to make money out of it." ARBITRATION DOFFS ITS MASK Arbitration proceedings in New York are hereafter to be made public. Members of the trade press were invited this week to a sitting of the Joint Board of Arbitration at the T. O. O. C. offices. Sol. Raives was chairman, Messrs. Meyer, Seigel, Unger and Thomas represented distributors and Raives, Moses and McNamara represented exhibitors. About 100 cases were disposed of. Fox won in the action of the Blenheim, Webster and Benneson theatres for $1,000 damages because the Boston Road Theatre played "The Iron Horse" first. The ruling was that there was no protection clause in the Fox contract. tir-\ NE A MONTH" is the Ascher Brothers schedule for theatre building in Chicago. November 19 was the opening date of the Midwest, fourteenth in the Ascher string. Then for good measure they bought the Parthenon, numbered it fifteen and flung their banner forth from its flagstaff on November 23. December will mark the opening of the huge new Terminal Theatre on the northwest side. Each month a new theatre will be added, thus making Ascher Brothers at the end of the year one of the largest circuits in Chicgao. In January the Colony at S9th and Kedzie will open. February will find the Drake at Montrose and Drake added. In March the Highland at 79th and Ashland will open. April will be the opening month for the magnificent new Sheridan at Irving Park Boulevard and Sheridan Road. The new Ascher School for Managers, under the direction of Lewis P. Newhafer, general manager, will open on January 11 at the main offices of the circuit on Wabash avenue. " Lynch Theatres, Inc., are building a new theatre at Chicago avenue and Monticello that will seat 2,000 and be known as the Vogue. William J. Mueller and Arthur Sass are handling the construction of the new house. When completed this will be the seventeenth, making it one of the largest circuits in the Chicago territory. The main offices of the Lynch chain is now in the nev/ Tiffin Theatre iSuilding on West North avenue, under the personal direction of Vincent Lynch. Another fine neighborhood theatre was opened last week by Lynch Theatres, Inc., at Maywood, 111. The new house is called the Lido and is located at Washington Boulevard and Fifth avenue. Mike Siegal, formerly of the Home Theatre, is house manager and Jack Miller is managing director. Willard Parsons is musical director and had a fine program for the opening feature "Shore Leave." The new theatre will seat 2,000 and has a beautiful Italian garden ef fect in the auditorium. The house is the sixteenth of the Lynch Circuit, under the general direction of Vincent Lynch. The boys along film row are extending congratulations to John C. Miller, owner of the Princess Theatre at Woodstock, 111., on his election as president of the Chamber of Commerce of that live little city. Miller is one of the veteran showmen of that part of the state and is a real booster for the Woodstock territory. The Midwest Circuit has denied the report that it will invade the Quincy, 111., territory and take over several theatres. The Great States Theatre circuit, affiliated with Balaban & Katz, is building two fine movie theatres, one at Joliet, 111., to seat 4,000 and be known as the Rialto Square. It is expected to be ready for opening about February 15. Morris Rubens will have general supervision of this house, which will have a combination policy. The new Lincoln Square at Springfield, III., is under way at Fifth and Jeflferson, but it will be several months before it is ready for opening. This will be a combination house with a large seating capacity. James I. Biba, Irving A. Biba and Philip Golde have organized the Ritz Theatre Corporation with a capital of 500 shares of non par value to operate the new Ritz Theatre at 6334 West Roosevelt Road in Oak Park. The house was opened last week to capacity business. G. E. Minor, Lyle Webster and H. Webster have organized the Minor Amusement Company at Rice Lake to operate theatres in that district. The Kidland Amusement Company, operating several houses, has purchased the theatre at 4619 and 4621 South Ashland avenue for $75,000, subject to a mortgage of $40,000. Cerf and Erenhalt handled the transaction. Marks Brothers report that they expect to open the new Embassy, going up at Fuller(Continued on next page)