Variety (Sep 1933)

Tuesday, September 5, 1933 PICT E S VARIETY 25 Stock Market (Continued from page 6) P9,s8inBr of the sununer, always the quiet season of show business In all its branches. • The theatre stocks did practi- cally nothing either way in net change from Friday to Friday. Ix)ew's dip was a momentary affair and recovery was prompt so that the week ended with prices in the group generally unchanged. Final Friday session was perfunctory with volume under 1,000,000 shares and the ticker idle for long inter- vals. That kind of a session immedi- ately preceding a three-day holi- day speaks volumes for the absence of any large short account which would ordinarily have done a good deal of covering, Exchange's new regulations have drastically cur-, tailed. short selling and that prob-^ ably Is one reason for restricted dealings lately. It is also one reason foWtxpccting a period of dullness fomWhe immediate future, probably running on a fortnight or so, in the absence of any news development to furnish a new incentive for the advance. The curi'cnt situation would have furnished a perfect ^ettlnff for spec- ulative fireworks if the trading rules had been left wide open as they were before the 1929 crash. In- termittent obstacles to the recovery drive ,would have inspired bearish operations and pro-inflation hints would have been the signal for a squeeze, all making for fast market action and.a lively public interest in ticket fluctuations. Instead all we have had for ten days or so has been the results of In and out dealings by floor pro- fessionals and a minor element of quiet absorption that took care of discouraged long selling. Public Spending Up One hopeful item of news for the amusements was contained in a re- port for the New Tork Federal re- serve district showing department store sales on the Increase for Au- gust, indicating increased loosening of the pur^e strings among the people toward freer spending for goods. More liberal budgeting on amusements would, of course, be in- ferred. Under the surface Wall Street Summary for week ending Friday, Sept. 1: STOCK EXCHANGE 23% % 10% 3% Issue and rule. American Seat Consol. Film 3% Colum1;>U P. vtc... 23% Consol. Film ptd 10 Eastman- Kodak (3) 85% Fox, Class A 15% Gen. £lec. (40c.) 26% Keith pfd Iioew (1) Do pref. (0%) Madison Sq. Garden Met-G-M pref. (1.80) Paramount cts Pnthe Sxcbange Pa the, Class A — Radio Corp ; RKO Universal pref '...« Warner Bros «. Do pfd Westinghouse CURB Columbia. Plcbs 700 Gon. Thea. £}. pf4 A 500 Technicolor T% 000 Trans Lux 2% PRODUCE EXCHANGE 3,800 Par-Publix probably isn't as unanimously bull- ish as it was ten days ago. Sudden halt of the August recovery turned many cautious, but In all recent downtown utterances there recurs reference to a 'new' development in Washington.' All the Street feels that If a new spur becomes urgent- ly necessary it will be provided from the capital. Widespread be- lief along this line has discouraged a good deal of selling long and short. Not a few who think lower prices are ahead, have refrained froni seeking a profit thereby. The logic here is that if business suf- fers a relapse, the administration has it within its powfer to supply a powerful stimulant in inflation and even market pessimists would .rather not be short of stock when and if that happens. For some reason this year there has been much propaganda seeking to impress the,idea that early Sep- tember marks a seasonal market re- covery as a rule, although the rec- ord doesn't Indicate anything of the kind. The first signs of a reaction that led to the 1929 debacle began to show around Sept. 1, when the long boom rounded out its top and began on the down-grade that ended with the late October crack- up. Last year early September saw the peak of the spirited rise that began in late July and the decline continued into October. Fact is that business and market traders Iodic forward during the normally lean summer. days of August to the awakening of autumn activity and buy stock against the event. When early September comes around they have an opportunity to study coldly what is being accom^ plished and make a new appraisal of what the season has in store. If the re-examination of the facts sat isfles them, business and the mar ket are likely to go ahead. Other wisia business and traders trim sail, sell their stock and there is a re- action. This year there is every likeli- hood that administration maneuvers will do much to make the business picture cheerful; so that the chances generally favor continuation of the improvement that has attended the present government since it took ofllce in March. High. Old-Timers' Desire to Cop Theatres Seems Solidly Checked hy Chains; Par and RKO Halting Such Ambitions FRANCIS LEDERER who gained his popularity on the stage in Berlin, Vienna, London, and New Tork, and who is one of the foremost favorites on the European screen, will be presented for the first time to the English speaking moving picture public by RKO. His first picture: "MAN OF TWO WORLDS." LA. Reopening with Two Pix and Vaude Gives Mgrs. Stomps GLEN FALLS' BOOTH FIRE Three Men in Booth Badly Burned —Empire Reopens Bankruptcy state of Paramount and the receivership of RKO and I Fox Metropolitan In addition to the bankruptcy of Fox West Coast, has impelled a wide scramble among ambitious old timers and others to cop houses for themselves. Some of the methods pursued by Glens Falls, N. Y., Sept. 4. Reopening of the Empire Satur ^ day (2) after closed for several the would-be acquirers are causing months, was threatened with post- plenty of complications for all.' And the landlords are in the middle. •Thought on the part of some that ' - T> /I I time for parties to come Thursday night. William Brady, j^g^ pleasantly walk away operatoi*, who was working in the with circuit houses unrestrainedly booth with two other men, is in a has turned out not so hot. The cir- critical condition in the Glens Falls cults a o«ering resistance a^d ponement as a result of the ex- plosion and fire In the picture booth hospital, with back; face and arms I protecting their equities. There has probably never existed 2Vi 23 Uiit m 214 Los Angeles, Sept. 4. Downtown picture house map underwent a series of shifts and changes over the week-end that had the managers running around try- ing to figure out what might hap- pen. Topping the upheaval was the reopening of the long dark Orpheum, now operated by Broad- way Theatres, subsidiary of Prin- cipal Pictures. Opening week had a policy of two feature pictures plus 10 acts of Bert Levey vaude- ville, at 25c for all shows excepting Saturdays, Sundays and holidays, when after 6 p. m. the tariff jumps to'S^c. President, Principal house, switched from its second run policy to first run by going freak. Open ing attraction under the new policy was the nudist colony pic, 'Back to Nature', and at a 25c gate drew plenty of the curious for the first few days. Gumbiner's Tower, until recently a part of the downtown subsequent run pool, and which, since pulling out has been first run, switched back to double second runs current ly. In an attemp^t to combat the adjoining Rialto and the half a block away Orpheum. Block and a half away, the Los Angeles, William Fox house, play ing duals of independent product first runs, is expected to switch to a combo of pix and vaude any day, and stage policies of varying de grees are not unlikely for several of the other Broadway houses in the pooling arrangement. burned. I the opportunity presently offered in Fred Bugg is manager. First and j the industry for acquisition of es- second run pictures wiU be shown, tablished theatres in a responsible aei-uuu I u I ,4.^^ way. Where the trouble comes is Glens Falls now has four Picture overzealous mien of some old- houses: Paramount with ^orge i ^^^^^ ^^^^ anything, regardless, Brown, manager, first runs; Riatto ^^ether such folks are of the, with Harry Black, manager opinion that the mixed-up financial runs and five acts Lriday and Sat- certain of the chains makes urday; State, two second runs, with i^^^ ^^^.^^^ ^^^^ anybody or shorts and comedies. j ^^^^ circuits are obliged to give away the houses just for the asking, M«vvnr^/\ n/v/vrriT IIKTIAII o^<^ fashioned idea. Seems to TRISCO BOOTH UNION I have come about when the in I $24,000 Gen. Thea. K<i. ii<><A 3,000 Keith G's, '48 48 14,000 Loew C's, '41., 47^4 7,000 Paths 7'b. '37 4'/4 05,000 Par-Fam-Lasky C's, ' 5% 122,000 Par-Pub 5'/4's, 'DO 8!^ 3,000 RKO debs C's la 175,000 Wnrnop Bros. C's, '30., - % - % + % +2 —1 Over the Counter, id. At>l<cd. j/i I noxy, Cla.ss A I>ar-I'""nm efs sold $7,000 (&) 32, 31«4, 32. net ott.'/j. Par-Pub cfs sold $10,000 & 33V4, 31%, 33V4, net up 14. Gen 'Ihoiitro ofs sold $1,000 @ 4%.'net up V^. Incorporations California Sacramento, Sept, 4. Mideot Racinnr Ass'n. Capital stock, $2B,000. none subscribed. Dominick DIs- tarce, TjSo Taulkner, Mike Frantlno. ' Badio Football Board. Capital stock, $20,000, none subscribed. James Duf- aeld, Kdward Bahler, Frank Michaels. Gospel Broadcasting Asii'n. No capi- tal stock. C. E. Fuller, F. O. Burket, H. A. Johnston, O. Howard Lucy. W. W. Bdmondn. Milk Fund Air Circus. Capital stock, $26,000, none subscribed. Monty O. Ma- son, K. I^eroy Blcs.slne, Ij, Benjamin Raidman. ISmpiro rrojectlonlst Union. No cap- ital stock. Merle H. Chambcrlln, George O. Brown, Kobert I^evy, Benjamin M. Jones, Edward W. Keeler. Amorlran Tnlklnp "Wire Co. Capital stock, BOO shares; subscribed, $3. R. E. Berlnp, C. G. Woodmansce, G. C. wood- UtiivorKal TalUioff Wire Co. Capital .stock, 500 shares; subscribed, $3. R. K. Bering. C. O, Woodmansce. Permits to Sell SlorU CaJ>arct Theatres Corp. To hold the- atre corporation. To issue 15,000 of 38,- 000 shares, par $10. National 'Starcnsts.' Radio advcrtls- Inff. a'o i.«iBue 100 Bha.r*^H out of 1.500 preferred and 996 out of 1,000 common. No par Judgments (Debtor's namd is first; Judgment taker and amount follows.) Metropolitan Soiind Studios, Inc.; Com- bined Photo Industries, InC; $18,275, Gene Buck; G. C. Porter and others; $355. XJttle Theatre Oporatln«r Co.; State Industrial Commission; $617. Ready New Pitts Yam Hollywood. Sept. 4. James Gruen and Joe Traub are writing the dialog continuity of 'Hearts and Flowers,' Zazu Pitts- Pert Kelton starring feature for Radio. Gruen and Traub made the adaptation from an original by Howard Grcon, who will produce. Remakino 'Sorrel' •Sorrel and Son,' produced for United Artists iii the late years of the silent era, will be reshot as a talker with H. B. Warner topman again. Herbert Brenon originally pro- duced the picture. ■ ^ _ J auguratlon of affiliated chains by CCNnC TIP inrAl XrAlFUlm companies made any house a dLnUO Ur LUl;AL Jl/AIilil y^jry probable buy for the circuits. Those same sellers apparently are San Iranclsco, Sept. 4; \novr on the liqe and apparently ; Picture Operators' Union has figured from the start to get back j served notice on local theatres the houses, quite at the same ad- ! that projectionists' salaries would vantageous terms comparatively to : revert to 1929 scale on Sept 1, and themselves as they sold. The cir- j are now working on that basis. cult, of course, to be on the losing | Means a price raise to $2.35 an end regardless, hour, from a previous scale that Par's Stand j varied from $1.25 to $1.75, depending paramount looks to have the sit- I upon calibre of the house. uatlon well, in hand by picking its ! Managei's have'appointed a com- partners and. suddenly taking an; mittee to talk it over with NRA, attitude, of no more partnerships, claiming such a raise at this time unless. That unless means only is not justified. Managers also state 'v^rhere the would-be partner meas- there was an agreement with pro- ures up in every capacity, both as jectienlsts to call a conference be- to operating ability and flnanclal fore making any such demands. responsibility, with Par protected Situation is still more or less up by a recovery clause under condl- In the air, and not llk<?ly to return tlons, to earth before several weeks. | That recovery idea and the vari- ous conditions attached are protec- I tive measures put torth by S. A.. Tai^ac Noll KmnaQCV Lynch. That's how come the recent UOfcb lldU UllUdddJ I furore over the • John Balaban and the E. V. Richards melee is sud- Los Angeles, Sept. 4. I denly quieted. Even Sam Dembow Gore Bros, have taken a five-year may now get some houses otl a lease on the Embassy, former indie logical basis. operated house on Market street. 'Over at RKO, the situation Is San Francisco, and in turn have somewhat different, but also well in given FOX West Coast a BO%.ln. hand. When the Orpheum circuit ferest, with the circuit operating, was shoved into bankruptcy^ there House opened Tuesday (31) with were all kinds of noises from vari^ v.„l^„«r.f ,.,,r, ous sources about taking spots away subsequent run pix. from RKO. Only one fellow tried Gore deal was made with Herman ;[°"ij?B A. H. Blank, who worked S'"^^- ' out a deal for the Omaha Orph, with the landlord and away from JtKO. Blank took the house at an in- creased rental. RKO -yiranted to keep the house. Blank apparently didn't figure finy comeback fro n RKO and the matter of product looked" unconsidered In his takeover. That way of dealing with the landlords direct is an old-time method under receivership condi- tions," as possible dlsaflflrmations and turnbacks make the landlords likely objects for considering new tenancie."}. Singers House At the time Blank took the Orpheum. he also was trustee In bankruptcy for the Par houses in that territory. RKO aiming to stay In the town, was negotiating a new lease with the Orph landlord. When Blank clcsed for the house, RKO Immediately protected its service and went for a house to offset Blank. Through Mort Singer, one of the partncTH of KKO in several Orph iiouso.s, RKO also has acquired an interest in the lirandcl.s tiioatre. Omaha, wliich will be operated by Singer. Automatic-dlly liKO's prod- uct comniilmonts go to the Brandeis in.stc.'ul oC the Orpheum, and It look.s Iik(? Blank is .somewhat .stuck. Jjlank i.s also coniix-Ucd to pay more rent for the Omaha Orph tiuin RKO wa.s willing to pay* ■Blank i.s .stated to have ])ur.sucd .similar ta<-.tifs witli coftain of Par hotj.scs, i)ut looks to have been c.stoppf'd wlien Par began to figure Iiim out of any partnership deal In tliat tfrritory, unless and If. Blank I)ref(•rr(^d a partnership and so a deal i.s being worked out with him. IRVING BRISKIN Whoso entry Into the motion i>ieture ljuslries.s _waH </in auditor for ►Sterling Productions, of which he bf-eame Vice-President in ciiarge of distribution. He thereafter produced sixteen features starrmg Tim McCoy. Upon Columbia pictures taking over tl>e McOoy eontraet, Mr, Bri.skin became an a.ssoeiate produeer for tliat company, in eliarw of the McCoy westerns and the "I'olice Deteetivo" .Serie.s, a tolal of twelve features to be produced during the aea.son 1033-1034.