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CHAPTER VI 17 exhibitor, who traded with another exhibitor when he had shown the subject. Later the program was devised that exhibitors could count upon there being enough new material to keep the business going and to adjust the supply to avoid overproduction at times and prevent a scarcity at others. Each company in a program was assigned certain days and a company releasing film on one ^Monday released every ^Monday, the exchange buying all the ^Monday releases no matter what they were and renting to the exhibitors on the same "sight-unseen" basis. The present tendency is toward the open market, in which film\ is sold without restriction and upon merit alone. 6. This makes for improvement in the situation of the author, for to I sell on merit stories must be good and varied. It is not possible to put out the same material over and over again. Under the program scheme, where exchanges were required to accept whatever a manu- facturer chose to put out, there was small incentive to always offer the best work. If a fair average was kept up, the general run of release did not so much matter. Now and then money would be spent on a story for the sake of the advertising, since the quality of the brand had to be maintained at a certain standard, but where each film must sell upon its own merits alone, the standard must be raised and this | means better stories as well as more careful production of th«se | stories. (l.V:6) (2.V:3 XXXIX :5).