Variety (July 1933)

86 VARIETr P I € T ■ II E $ tueedajr, JiUy 25, Wss Stock Market (Continued from page 6) their total gains since the start of the 'new deal/ in most cases touch- ing but not violating the minor col- lapse in June, when -the marlcct ex- perienced a fairly violent correction on the possibility that. the Ameri- can dollar would be stablized In re- atlon to the British pound. Most significant of all was the fact that Loew's, the leader of the film family and the only remaining issue that commands a price high enough to invite a speculative play, remained exactly within these lim- its, In this respect paralleling a number of pivotal industrial Issues, and a/lso the Dow Jones stock in- dex which is the yard stlclc bj' which market movements are gen-' erally measured. Qf course, there Is at this mo- ment no way to guess what the next drift" Is going to be. The situ- ation has too many angles and is Involved in too many directions to make possible a reasonable guess. For-one thing, a great deal depends upon what attitude the government takes toward trading in* stocks and commodities. Under the present set-up the Chief vE^secutlve can take charge of the Stock Exchange to all intents and purposes; under the Recovery Act he can prohibit short selling or even marginal trading. By control of the central bank he can Withhold capital for trading pur- poses, or the AdmfnlStratloirTcould- fnfluence commodity prices defi- nitely Upward by'actual revaluation of the dollar. Only hint of what Washington In- tends to do that has so far come out is* the administration's action In curbing speculation In wheat on the Chicago Board of "-Trade,. The White House has unequivocally ex- ' pressed condemnation of specula- tive excesses In terms which-have been Interpreted to mean that the Government Is careless of specula-p tlve. losses oiT fiains, except as. gam- bling, manias and. their consequence threaten the national recovery pro- #v * trend Stands 80 i*ar 'All thfese things create tremen-' dous unceH:aintlel^ in security prices and-the next few days ought'to see price movements seeking to fore- cast the future. The .significant ■ point of. last. ;Week'a wlndrup, how- everr-vfas-tliat-thief-eollapsev "violent- though it semed, had gone no fur- ther under the 'Chart theory,- than accomplishing an extreme correc- tive set-back. The last previous critical le.yel-T- that of the JTune lows—^were not ^ ^Bt*. Sffla^ ^Av^fl^g»Qn .had nnt^./' ^^^"^ previous corrective "drop. Fox lost about half Its total gain, but in this case it did slip through its June resistance point In last week's rout. Eastman Kodak, one of the hard- est hit of last weekis victims, holds to the general line as regards can- cellation of half Its advance, but breaks away from the majority of the amusen\ent group by sinking through Its June bottom by the "wide margin of more than 10 points. In the June break It got support at 77, while during the selling frenzy of last week It broke through that level to 65%, suggested both a tophoavy long following among the public for this old speculative favorite and the lack of determined sponsorship 'Within the market Itself. In other words, while the public, was being frightened out thbre' was no clique sufficiently interested in Its fortunes to bring up support. Kodak sank precIpItou$ly from 87% to 65% and then only ralUed to 67%. the week's net less being net 18% points, one of the worst breaks among the issues apart from the re- cent high flyers like National Dis- tillers. In a number of stocks upon which the slump centered there was great confusion In trading, in several cases the specialist turning his book over to the Exchange Governors. Commercial Solvents was. a case In point.. The former specialist retired and the—book .-waff" "transferred to M. J. Meehan, the third transfer In a week in this Issue. In such a case ticker prices probably are not truly representative of market appraisal. Trades probably were done at fan- ciful prices In the confusion. Some- what similar situation existed Sat- urday in a number of othet stocksi As a result buyer , and seller couldn't get together,- and these shares did not appear on the tape at all. Dela- ware and Hudson was a case in point. But there seems to be no" reason to attribute the crash in Kodak to such a cause. Dealings In Commer- cial Solvents last tveek totaled more ,than 2,000,000 shares, while the turn- over in Kodak was but 26,000 shares, not. much more, than normal, and a very moderate volume for a week of furious trading. Consolidated Film preferred on heavy turnover similarly -pene- "trated- both the Tialf way mark and likewise slipped through its June resistance. Figures were low around 6, top around 16. Half way'would be fractionally abbVe 11. Instead of holding that leivel, the stock cracked to 8, breaking.-.through by a fairly STATEWIDE CO. OWES $65,303; HAS $354,981 Milwaukee, July 24.. Treasurer O. N. Blatchford, of the bankrupt Statewide Theatres, op- erator of eight local houses and four In Wisconsin, has scheduled liabili- ties of $66,303 and assets of $364,981. Of the assets, $113,379 Is in cash a.nd $212,669 In theatre eq;uipment. hcorporations California Sacramento, jul7 24. Screen Aetom' OiilId> Inc. No capital stock. B. D. Flaherty, John O. Sobieekl, Maxlne Powers. „ Cinema Classics, Iho. Capital stock, 100 shares, none subscribed. Walter F.' Tilford, Roy "W. .Leible, Arthur If. Wood, Clyde E. BUIb, Qeorse Larson. . Charlie Chan, Ltd. Capital stock, $60,- 000, none subscribed. Eld. L. Park, Ole Chan, Bo Iilne, See Fu Poa, F« Paul Hornaday. Aero Pictures. Inoorponited. Capital stock, $26,000, $620 subscribed. Francis M. Corby, Joseph Sims, ICelvln Abram- son. fox Studio XUnpIoyees' Credit Union. No capital stock. Chester Stafford, Lou Lambermont, Oeo. D. Hellgren, Ray C. Fitzgerald, Joseph R. Stofel. Permits to sell stock Issued to: Henet, Inc. M.p. production. To Issue 600 shares out of 1,000, no par, Monoffrom Prodnotlons, Inc. M.p. pro- duction. To Issue three shares out of 1,000, no par . Clnrema- Classics, Inei— U.p. production^ To Issue all 100 shares, no par. Angelns Productions. M.p. dlstrlbiitlncr- To Issue all 100 shares, no par. Fictitious Firm Namtt* Los Angreles, July 24. Los Anseles Stace UKhtlns Co. C. Chas. Stevens. Jimmies Back Yard Cafe, Hollywood. Theodore J. Newhart, Wm. Livingston. Amplltone Sound Systemk, "Venice. Fred Aves. , Massachusietts Rex, Incorporated, Lowell: to operate public amusements; capital, $100,000; In- corporators. Charles Bancause, Wllhel- mtna I^ancause and Homer Bourgeois, all of Lowell. ■ ■ advance. The theory Is generally held h^ chart readers that unless the retreat goes bdyond the h&lf way mark of the advance it does not I'everse the general trend. On that- reai9onIng for the present it eeems possible that the trend Is still .generally up, regardless of the violence of last. .week's collapse, which was • certainly brought on by Unreasonable running up of a group of -special" issues, specifically , the 'repeal' issues, which took a terrific beating, and the collapse of which carried the rest of the mar- ket along. Price levels of Loew's were ex- tremely significant' under this line of reasoning. Taking a '33 bottom around 10—actual low was 8%, but this was a brief sinking spell—^and the top at last week's early peak at 32%, total advance amounted to 22% points and the reaction at Its extreme .bottom amounted to about half of that. Stock closed the week at 21%, which was the exact half way ?nark. Specific low mark for the setback was 19%, which was the exact point at which lioew's found support back In June, when the stabilization .fright brought on a sudden three- . day flurry of selling. The chart ar- gument, therefore, at the moment is that the amusement leader—and the general market, for that matter— closed 'the week poised at exactly the points where almost anything could happen. If It continues to defend last-week's loWs-there would be ground for supposing that a re- covery could be organized and the price trend could be re-established for the future. If the next few days brings out materially lower prices generally, the uptrend of nearly five months would be Interrupted and the signal would be down to some new resistance level. These argu- ments takiB into consideration mar- ket technicalities. Independent of aftrSr action the government may take. They would have weight only if the Administration continued its present apparent policy of hands off security dealings; Columbia Holds Well Range of figures quoted for Lioew iapply with surprising similarity to some other active picture stocks. Colombia Pictures was low approx- In^ately. at .9 and Jiigh at 24%, a spread of about 16 points. The re- action carried It doWn to 17%, where it. n>et support, recovering moder- ately to close at 18—another case'In which the setback Was held within the limit of half the whole advance. Ijow for Columbia In the June set- back was 16%, so that In last week's retreat the defense camQ In slightly above the critical level of Its last' -v> •*Aire-. am>i>act, ? wa.>«lflK/i?-w4iicLflev€l*ctii. j*wW-^©- lated by rather a bad gap. This Is sue would likewise be regarded as flying the danger signal. Both Warner Bros, and Radio broke through both the half way ipark and failed to hold the June bottom. and both displayed Impor- tant volumd. Figures here were half-way mark for Warners at 4% and .June bottom of 4%, while last week's actual low mark was 3%. Turnover was 290,000 shares, and the net loss on the week was 2%, RCA Cracks Figures for Radio Corporation were: Half-way mark 7%, June low 8 and low- on last week's reaction 6%, a rather significant break-through .here. In both the last two ca^es cited a contributing factor undoubtedly was that the small outside trader was In deep on both Issues, because they could be played with at a small outlay, be- cause both stocks have a back- ground in the public mind for sen- sational moves and both were Jadgments Sawptts Theatre Corp.; First Exchange, Inc.; »S1. N. T. Bxchaar* for KdaoattoBid Xllms, Inct S*- "W. Milldeny? $821. A. SrlanK^r TKeatirleal—^Eaterprlses,- Ib«., Saul Baron, as trustee;' Marc Klaw, $32,426. ThennosB New Way of Steiich-Boni|bing Tried on Steffes' Bijoui N Miss. Meeting Jackson, Miss., July 24. State chapter of M.P.T.O.A. met here last week and went on the warpath against the high tax and- Sunday blue laws. Ed Kuykendall, state and national..president, camo from New York. Sales tax .,on theatres Is 10%, while grocerymen, department stores and other merchants pay only -2%. Kuykendall expressed the opinlota that If'the tax Is reduced to 2%, theatres will absorb the tax. NOTE COT DOWN, TOO, AND SOLD IN BOSTON Boston, July 24. A $160,000 promissory note, signed March 1, 1930, by Rhode IsUind Theatres, Inc., and endorsed before delivery ' by Dlyfixpla The- years after date, figured in a decree today in Federal court here. Judge Lowell authorized transfer of note to Leon David, Boston, and Na- than David, Newport, R. I., upon receipt of $86,000 cash, transfer to be made without warranty of any kind. Comptroller of Currency okayed the transaction. ^Mineapolis, July 24, One woman patron was burned on the. legs and another became hys- terical from fright when somebody tossed a thermos bottle ^ntainlng a liquid into the crowded main floor of the Bijou theatre, 1,600-seat In- dependent grind dime loop, house, an.d It exploded, The injured woman had to be taken to General hospital. Police blame the 6ccurrehce' to' labor'trouble. Bijou Is owned by W. A. Steffes, general manager of Northwest Al- lied States. Recently this house along with six other local independ-. ent theatres discharged their $46 a, week booth operators, members of the A. F. of li., and employed as operators at $36 a week members of the Minneapolis Independent union not affiliated with the A. F. of L. A police analysis of the thermos bottle contents showed that they consisted of yellow aluminum phos- phorous such as used In a match -factoryr- The- fumes- which poured atres. Inc., Boston, payable in five, forth from the bottle and-continued tip^ped for weeks before the crash significance. Summary -for week ending Saturday, July 22: STOCK EXCHANGE Sales. Issue and rate. 3,100 American Seat 7,800 Consol. .Film It.SOO Columbia P. vtc... 13,000 Consol. Film pfd... 20,200 Castraan Kodak (3) 41,800 • Fox, Class A.. i..., 610,300 Gen. Elec. (40c.).... ..... Keith pfd .-. 99,000 Loew (1). " 1,000 Do pref. (6V4)...:. 6,C00 Madison Sq. Garden.. .4' 600 Met-Q-M pref. (1.89) 33,700 Paramount cfs 34,000 Pathe Exchange 20,000 Pathe, Claas A SCO, 500 Radio Corp as being 'ready for a campaign.' They had their campaign all right, rishment "sm otnneniRfaw-uaua*.- - - Most of the cheap stocks that were trotted out late in the upturn suffered severely. Notably there was an utter collapse of Pathe A, which shot up to a new top for more than two years at 9% on Tuesday, and in two days, .nose- dived to 4%, more than cut In half. Turnover here was 29,000 shares, sensational' for this long-neglected issue. Against this performance the old Pathe bonds advanced 8 points net on the week, despite the collapse in equities. Bonds generally among the amusements presented " a fairly cheerful picture. A few speculative minor liens lost ground. General Theatres went Into a seml-coUapse and the Warner 6'a took a terrific sock, but both the Paramounts gave a good account of themselves, ab- sorbing a fair amount of nervous selling without giving much ground. RKO debentures slipped 4 net to 26, but on such minor volume as to rob the price change of great F-WG Abandons Twice Weekly Staff Screenings Los Angeles, July 24. Semi-weekly screenlner- that hiavo been held in the Carthay Circle for the past year, primarily for'theatre and li.-.Q".^emnI.oxe^?l» have bee ^ di g* continued by Fox West Coast Execs feel that better results' can be accomplished by having the screenings In the different houses whenever they are ready to be pre- viewed, rather t'-on ta bunch. all 140 Universal pref. 200,300 Warner Bros... 300 Do pfd 23% % 1C% 8% «?^* 84% 87 82% 32 30 41% 2% 200 Columbia Plots 4.000 Gen. Thea. E. pfd. 8,800 Technicolor 1,500 Trans Lux 22% % 9% 3% 20 A- 7% 2% 20 7% 2% -3% - A - % - % Sid. 20% 47% 4% C% 8% 12 Aelted. ,1 BONDS •40. ?500,000 Gen. Thca. Kq. 51,000 Keith D'a, '46..... 04.000 Loew O's, '41 13,000 Pathe 7'b, '37...;.. 2D1.000 Par-Fam-I.aaky O's, 301,000 Par-Pub 6%'3. '00.. . . 8.000 RKO deba 0"3 ;. 20% 878,000 Warner Broa. O'a, '39 " Proouce Exchange .20,006 Par-Pub Over thi9 Counter, N. Y. - % % ,1 Poxy, ClnM A. Gen. Theatfp ct». Bold $50,000 © 7%, 6, 5, net off 1. Par-Fam ofa. sold $«.000 <f> .TO. 20, 30, net up 4, Par-Pub cfs. sold $11,000 @ 30, 22%, 22%, net off L nights. Also figured some additional rev- enue may be drawn Into the box offices by eliminating the free show- ings for employees, their relatives and, occasionally, friends. to flow when it was taken to police headquarters were caused by the phosphorus. It drove patrons out of the showhouse and caused a near panic. Police said the thermos was thrown from the balcony. Ochs Lands Peekskiil Iiee A. Ochs is stepping Into the- atre operation outside of Greater New York for the . first time ' ihls week, taking over the Colonial, Peekskiil, N. Y., from the Singer Interests. It's an operating arrange- ment. Gene Levy, Newburgh operator, who also wanted the Colonial, Peek*.. Bklll, was-nosed-on the-deal-by- O.chs, Marvin Parks Out Marvin Parks, who went to the coast on a leave of absence from company, is deciare3~ou£r* He was stationed at the Albee^ Brooklyn, for a time as manager,' but shifted to Cleveland when J. J. Franklin made his second trip to New York to take the Albee, CALENDAR OF CURRENT RELEASES (Continued from page 36) Traum von Schonbrunn (Ger.) (General!). Musical. Martha Bggerth. Dir. Johannes Meyer. 85 mlns. Rel. May 15. Rev. June C. Trois Mousquetalres, Les (General) (French). Duma's classic with songs. Dir. Henri Dlamont-Berger. 128 mine. Rel. May 1. Rev. May 9. UlanI, UtanI, Chlopcy MalowanI' (Polish) (Zbyszko). Musical comedy, loi) mins. Rel. Jan. 1. Ulica (Capital) (Polish). Lite of the newsboys. Dir. Alexander Ford. Tt 73 mlns. Rel. Aug. 25. Rev. Jan. 31. Unknown Heroes. (Capital) (Polish). Polish police activity. Macy - Bogda. Adam Brodzlcz. Time, 89 mlns. Rel. Aug. 25. Victoria und Ihr Hussar (Klnematrade) (Ger). Viennese operetta. Michael Bohnen. Dir. Richard Oswald. 90 mlns. Rel. April 1. Rev. April 11. Voce Del Sangue (Synchroart) (Italian-German). Dubbed Into German. 70 mlns. Rel. April 16. Rev. April 25. / - Voice, of the Desert, The. (Capital) (Polish). Algerian story In authentio locales. Adam Brodzlcz, Mary Bogdal. Time, 89 mlns. Rel. Aug.'25: ' Walzerparadles. (Ger.) (Capital). Musical comedy. Charlotte Suso. Dir. Friedrick Zelnick. Rel. March 1. Rev. March 7. Weekend In Paradise. (Capital) (Ger). Farce.' Otto-Wallburg, Elsie Elster, Trude Berliner, Dir. Robt. Land. . 81 mlns. Rel, Noy. 1.. Wenn dem Esel'zu Wohl Ist (Ger.) (Germanla). Comedy. Charlotte Ander. Dir. Franz. Seitz. 86 mlns. Rel. April 15. Wenn die Soldaten (Schneider) (Ger). Military musical. Otto Wallburg, Paul Heidermann, Ida Wuest Dir. J» Fleck. 85 mlns.- Rel. Oct. 27. Whither Germany? (Klnematrade) (German). Difficulties of life. Hertha Thiele. Dir. S. T. Dudov. 71 mlns. Rel. April 15. Rev. April 25. Vldlshe Tochter (Yiddish) (Quality), Old-fashlohfed Yiddish drama. Yiddish Art and. Vilna Troupes. 75 mlns. Rev. May 23. Ylskor (Yiddish) (Gloria). Revamp of silent Maurice Schwartz. Dir. Sidney Goldin and George Rolland. 80 mlns. Rel. May 15. Rev. June 6. Yorck (German) (Protex). Historical drama. Werner Krauas, Rudolf Forster. Dir. Gustav Udeky. 90 mins. Rel. Nov. 1. Rev. Nov. 27. Zapfenstrelch Am RheTn. (Whitney) (Ger.). Musical farce. Charlotte Susa. Siegfried Arno. Dir. Jaap Speyer. 90 mins. Rel. Feb. 1. Rev. Feb. 7. Zlrkus Leben. (German) (FAF). Circus drama. Llane Hald. Dir. Heln« Paul. 70 mins. Rel. Dec 15. Rev. Jan. 3. Zwel Horzen und Eln Schlag (German) (Protex). Dir. Wilhelm Thiele. 90 mlns. Rel. Sept. 1. Key to Address Operetta. Lilian Harvey. Rev. Sept. 13. Amklno, 723 Seventh Ave. Associated Cinema, 164 W. 55th. Bavaria Film, 148 W. 48th. Capital Film. C30 Ninth Ave. Rmbassy Plots., 729 Seventh Ave. European Film, 164 West 55th. Fllmcholce, 33 West 42(1. Foreign American, 111 West 67th. Foremco, 1560 Broadway.. ■ Garrison Films, 729 Seventh Ave. General Foreign .Sales, 729 7th Avie". Gormtinla, 22-33 19th St., Astoria!. George Schneider, B75- Rlvfrrslde- Dr. Gloria Films, 630 Ninth Ave. Harold Auten, 1^660 Broadway. Internat'l Cinema, 1499 Flret Ave. Interworld Films, 1540 Broadway. .T, H. Hoffberg, 729 Seventh Ave. J. H. Whitney, 360 East 72d. Klnematrade, 723 Seventh Ave. Madison Plcts., Ill West 57th. New Era, 680 Ninth Ave. , I»ortale Films, 630 Ninth Ave. Protex grading, 42 E. 681h. Qua,Uty Picts., 630 Ninth Aye. Syhcho Art, 630 Ninth Ave. ■Worldklno. 1601 Broadway. Zbyszko Film, 274 Madison Ave.