Variety (Sep 1933)

VAniETY PICTnilESI TbeBdfty« Septeniber 12, Oversold Stock, Commodities Jmnp On Minor BuD Drive; Columbia at 26, W. B. Bonds, 46; Both New Tops By AL GREASON The new week started with a hurrah in the stock market. Open- ing quietly and about unchanged, bulls started testing operations in the second hour and found both stocks and commodities sold ou<, and responsive to a constructive maneuver. Prices advanced grad- ually into' the final' hour, when the movement took on a broad aspect and carried, quotations up to the best of the day. Lioew's, without any appearance of strong-arm methods, advanced to 34%" at the close, within a, fraction of its top for the year, while Colum ■ bia Pictures surged ahead to a new top for more than a year at 26 where It closed. Another peak at 46 was registered in Warner debentures in the bond list, continuing a bull drive the&t-'gathered some momentum last ^week. Fox was traded in above 15, Its best price since It began to slip from above 18 when it was listed, in early August. Grains, cotton and the other commodities ' staged . a sharp r^ly, wheat being up^ a9 much as 3 cents a bushel. ' The dollar was steady abroad. Inspiration for the initial' maneuver probably came' from the realization among professional trad- ers that las't week's creeping" decline had shaken out very little stock/ and probably jencburaged a weak short account, a 'technical situation thaf held the ihakings of a turn- around. First sally was. in the alcohol stocks, standing in a strategical position at the moment with predic- tions that Maine would vote for re- peal; Campaign here was well r.e-' warded. National Distillers ended the day 10 points -higher around' 103. Speculative bonds' generally got into action, with "Warners liens. t6tQilling around $125^000. Lioew'a loans, jrecavered nearly half tl^elr loss of all last week. Volume in stocks approximated l.BOO.OOO, trading being on a cdnsid'- erably broader dcale than on the downward movement late last week. It will take a day or two to demon • strate how much vitality the up- swing can muster, or whether it is merely a correction of a technical situation brought about by last week's steady down drift. Stocks oh Dead Center The first full six-day 'week since late July resulted in moderately lower prices for stocks, grains and cotton, and sharply reduced volume of trading on the Exchange. Satur- day's turnover of 270,000 shares was the smallest for a short session, since eajrly in July of last year, and reflected trading stuck on a, dead center.. Weakness in grain and strength' in dollar exchange are both anti-' Inflatloriary in influence, and might have been expected to- depi>ess prices a good deal further than the actual loss of.^the week, represented by' about 4: points' in the.' Pow. :Jones industrial averages. On the f^ice of. it so slight a reaction argued a good deal of support from some- where. .Presence of bullish feeling likewise, 'vi&k '-- irtdlpia^tJfed; by. the dl- mlnisKied volume, plain evidence that slippinjg .qut>tationp^.;'were not shak- ing oxLt mtibh stock.Answer as the standpat bulls see it, of course, is the conviction that if and when it becomes necessary to spiir the recovery, the Administration will take necessary inflationary meas- (Continued on page 27) Yesterday's Prices Sales. 1,000 aoo 8,800 1,000 SOO 7,800 - 300 2.700 400 COO W.OOO 000 22,300 400 HIbH Col. Plc. 27 Cons. P.. 4% Con, F.pf. 12% East. K.. 82% Fox A.... 15% Loew .... 84% Do pf... 71 Par-P cf.. 2 Patbe ... Do pf... HCA RKO .... W. B Do pf... 1% Wl 8% m. 21% Met Xow.Uaet cliRe, 22% 26 -H ^ 4H+% 12 + % 82% + % 15% 4-1% 84% +2Vi 71 +1 2 1% 0%+ % 3% + ,% 8%+ % 21% +2% 4^4 11% 81 14 82% 70 2 8%, 8% 7% 20 CURB 400 Technl ... 7% 200 Trans-Li. .. 2% BONDS 7% 2% 7% 2%+ % $4,000 Qen. Thr. .5 4% 5 2,000 Keith .... 40% 49% 49% - % 6,000.Loew'B .. 88 8-1% 85 +1% a.OOO Par-P-L... 82 32% 83' +1 2,000 Par-Pub.. 32%i 82% 82% + % 112,000 B 46 43% 48 4-2% Silent Newsreel Abroad .Where English Unknown Pairaniounf's' heWsreel will no longer be ^ent to foreigrn countries with" dialog- in language foreign to the '-country "whete shown. Par newsreel has been edited in London for Europe with English off stage voice' describlpg, but too many squawks from countries where not undet-stdod. New id^a will be to use sound effects ^.nd titles unless some local stuff 'happens to be in the proper language. Wish Fathers Thought For New Fihn Group Unitmg Majors^ Indies Hollywood, Sept. 11. Conversational topic right now, but nothing more, for independent producers in Hollywood is the pos- sibility of forming a new film pro- ducers association that would in- clude both majors and indies. It Is pointed out that the indies can't reconcile themselves with the Hays group, but that anothex' group with both production factions as members could be of service to the industry in ways the present strictly major company organization cannot > encompass. -The table-tallc mentions as the possible "Hays' of the new group Sol A. Ros3nbIatt, deputy admini&l- trator for Gen. Hugh S*. Johnson on the film code. It Is figured th. New York attorney, through his work" on the code, would have the con fidence of all branches of the in WJ. Takes N J. Group Newark, Sept. 11. Warner Brothers bave taJken ovdr the Cameo, and American, here and Itez, East Rutherford from Al Got- tersman. All are houses In the thousand seat class. l^he two In Newark are In the Clinton hill section and give War- ners all houses there are from their Mosque downtown to their Roose- velt near Irvlngton. mROOTHHEN WITH OWN CODE ExUis first to Troupe hin Wash.; | Each Gnnp's Own CodtStratois^ With a code of their own drafted to cover booth operators in Great- er New Tork, a delegation of L>ocal .306 left New Tork Saturday (9) for Washington headed by Harry Sher- man, president, for fight for its adoption. Sherman's group at Capital city on code hearings in- cludes Fred Stoffergen, Al Polln, Samuel M. Birnbaum, James J. Finn, Leo Kissin, Lico Friedman, Harry Mackler, and James Dalsie. In objecting strenuously to labor provisions as set forth so far under codism, 306 will a^k for a minimum of. two men in all booths excepting deluzers where three are considered necessary, as well as other meas- ures deemed of a protective nature to theatres and public. Under the New York operator code as drafted prior to Washing- ton conferences at which it will be presented, the minimum wage scale is set at $50 and the maximum num- ber of working hours weekly for all operators at' 80. The n^nimum now is 36 hours, or four hours under the maximum of blanket codism. Operators will p\^t in a plea for the 30-hour week in order to put more men to work. Sherman and his group will claim that 600 extra boothmen can be placed in jobs if this provision of its code is granted. Dunn S«tdes for $1,200 James Dunn has made .a $1,200 out-of-court settlement of the 'Wil- liam H. Lievy'b Estate's commlsh suit against him. Dunn's salary. Turn down by Monogram of a Hays bid for membership has Bhown how the indies feel towards • the producers' association. Majestic also passed up a chance to Join. Waxmau on RKO Pub A. P. Waxman is the new head of the RKO theatre circuit advertis- ing and publicity, under Bob Slak. Waxman's appointment after John Leroy Johnson, Universal Studio publicity head on the Coast, declined ° RKO's oifer to come east. Johnson accepted RKO's offer fol- lowing Terry Turner's resignation, but apparently has been induced by Universal to remain on the coast. •Waixman formerly was head of all Warner advertising ■ and publicity. Menjou Chargres Trickery '; ' . . . ' Hoiijrwopi, . Sep.t' H- . Adoipl^e' Ulenjdu lis, demanding that ill atitors "Who signed the agents' anti-Academy code NRA f)etltIoti resign. IHoldd that 'ilie document waif at piece" of'trickery-6ln tlie pai-t of ttie ICj pe'rcenterd." •' ' WB SHOETS ON COAST? Hollywood, Sept. 11. There is a' likelihood of Warners shifting short production to Coast. Indications are that new series of 12 Tebhnicolor two I'eelers will start shortly^ Studio now on tallend of series of six. N. Y. to L. A. Ben Lyon, teebe Daniels. May Robson. Herman Bern! Jack Kapp. Jack Ostermian. L. A. to N. Y. Moran and Mack. Willinm K, Wells- three "'VSnleKs/ was''reteaseS in the settlement. Lehy, who died a year and a half ago, had. a five-year personal man-!", agement contract with Dunn. It had two and a half years to go at Lehy's demise. Widow filed suit through Broder & Brensilber in New York. With Slow Motion Cutting Record Set Studio Doubts Hollywood, Sept. 11. Marquis de la Falaise has com- pleted the first • cut on his *La Gong,' South Sea picture which he has been working on for the past six months. Radio and the producer are in a huddle over the release, with noth- ing set until after the preview, when the studio will accept or reject its first call privilege. 1st Runs on Broadway (Subject to Change) " Week Sept. 16 Paramount—'Torch Sinoer' (Par). Capitol—'Beauty for Sale' (Metro). Strand—'Bureau of Missing Persons' (WB) (2d week). Riatto—'Mystery of Blue Room' (U) (12). Roxy—W r (Brit.). Music Hall—'Power and Glory' (Fox) (14). Mayfair—'I Have Lived' (Ind) (2d week). Hollywood—'Voltaire' (WB) (Bth week). Rivoli—'Masquera:der' (UA) (2d week). Week Sept. 22 Paramount—'Too Much Har- mony' (Par). Strand—'Wild Boys' (WB). Rialto—'Thunder Over Mex- ico' (Ind.). Roxy — 'Shanghai Madness' (Fox). Music Hall—'Ann "Vickers' (Radio). Mayfair—'Mr. Btoadway' (Ind,). Hollywood—'I Love a Wom- an' (WB) (20). Rivoli—'Masquerader' (UA) (3d week). $2 Pictures 'Dinner at Eight' (Metro) c (Astor) (4th week). 'Berkeley Square' (Fox) (Gaiety) (13). 'SOS Iceberg' (U) (Criterion) (22), Foreign Films 'Joan of Arc' (French) (Lit- tle" Carnegie) (2d'week). 'Milady' (French) (Fifth Ave. Playhouse) '(^d week). YATES INDUCES INME RKO has taken over the distribu- tion rights to 'Midnight,' In- dependently produced by Chester Erskin, in the Bronx, New York, for Reliance. Picture, starring Sydney Fox, had been intended for United ArtisTs—distribution, but Erskin held out for a contract that included three future pictures which he intends making. Deal causes a peculiar situation inasmuch as United Artists re-' leases all the 'other Reliance pic- tures under a previous deal. Ersk- in's picture was made by a sep- arate company, becbming free In that way. •Most of the financal backing for the Erskin picture came from Con- solidated Films, with Irving *Yates, of that company, understood re- i&ponsible for the switch to RKO. HoHywood s Wash. Parade ■ Every Film Brand Has Its Owii Ideas- Actor Girbups Hollywood, Sept. 11. Hollywood will make a represen- tation at Washington that will more strongly suggest a parade than a delegation. Not only is each branch of the industry at war with all other factions, but each division is further spjit by internal dissensions. Writers, for example, will be rep- resented by delegates from the Academy and the Screen Writers Guild, each to argue its own ver- sion of the code. Actors are split between the Academy and the new Actors Guild, while a third recal- citrant Is the disgruntled agents' group which will combat the in- clusion of the Academy agents' code in. the industrial act. More important- than this trio of rcOiolJions is the producer fight be- tween the major studios and the Indies over the question of dual bills, which promises to be one of the biggest noisemakers at the hearing. Union fightia between lATSE and IBEW for control and to this has been added a hew development in the ranks of the cameramen, with lATSE fighting the (ilalms of the American Society of' Cinema'to- graphers to, jurisdiction, pver the lens manipulators. :Since the strike ISV cameramen hrve joined the ASC, though most retained, their ^ membership In lATSE. Alarmed at the thi-eatehed usurpation of authority, LATSE started a backfire and obtained a statement signed by 7&% of the cameramen which it. purposes to present the government to prove that it, and it alone,- Is properly credentialed to speak for the-cam- eramen. Washington, Sept. 11, Independent exhibitors .virtuall^pj;' had thie Capital to' themselves oveiQ.: the week end, major representative^ not commencingr to straggle In untUj^ late Sunday night. Even amon^ them, however, without outside diisi^ turbance and jockeying, factional fights with everyone having his ownj conception of the code or a pef clause, developed to a point where), the only unanimity of oplnloi|, seemed to be that the GovernmeQ^l. before the end of the week will, settle tlie li^sue by telling ..filmdoniL. just what to do. The attitude eveif; among leaders was that it will makej i little difference since the business will be under the government's su-i; pervislon anyway. Some of the strategy in exhlbsl circles during the past -few monthei. revealed itself in bunches in a singlel. Washington day. Allied Exhlbitora. no longer Is attempting to conceal|. Its identity with a ihovement hoped to make it the strongest national indie organization. If its claims fox; registrations and powers of attornejr;. are not exaggerated it already haflf. realized that ambition. It claims toj have 360 individual exhibitors reg"< istered in Washington tonight^ which, with proxies held by manjr of them,, represent 29 states. The attendance at the mass meet-^.' ing Sunday afternoon, however,(, failed to substantiate these claimB* There were exactly 86 persons inn eluding wives in the Hotel Ward-: man Auditorium. The others were) reported by Allied leaders to bej sightseeing. The meeting waS;) star-chambered, the excuse-, beingr,'. that exhlbs were afraid to spealc! their minds for the trade recri, ord. When it was all over ejc-; hib attendees said they knew af(| much about the code as they did be-*^^^ fore, only generalities being touched;, upon. They recalled chiefly the wariilng that they must not make] muggs of the box ofilce by all tryi ing to talk Tuesday and thereafter. They were told after traveling many, dence In a hahdfuriof commltteemenT which, late Sunday night, were still unable to agree upon spokesnien ox; upon which code or codes to baclc^ They were told also to return to the .theatre ^galn Monday morning, that .the mass meeting would be dupli- cated with the hope that most of the absentees would tire of rubbering and be willing to sit still. Full of Exhibs As the result of code confusion. Allied found itself Sunday night with a herd of exhlbs^ many of them unknown to organization and film politics, milling around the city and spreading stories that Charlie (Continued on page. 31) Atlantic City as Location Atlantic City, Sept, 11. Warner Brothers has an entire C9.mera, unit here making..shots for the new production . which .will, bear the title of 'Convention City^ Story is! based on an original script ,by Rjobert Lord. Prank Shaw • is ■ directing. Jean > 'Blondell and Guy Kibbee'are leads; Mort Blumenstock has charge of •the outfit here. Freuler Supervising on Coast for Monarch's 16 John R. Freuler, indie producer, whose l^lans are set to make more pictures this year -with the budget increased, was scheduled to, arrive in Hollywood Saturday (9), to start preparations on a program of 16 for ,1933-34 release. Last season Freu- lejp Associates, releasing under trade names of Monarch and Royal, made a total of 12. First picture slated to go Into work is 'Marriage on Approval,' Priscilla Wayne noyel. This will be • oiie of the 12 Monarchs, all of which,, are to be based on published stories. Other four, releasiaig as Royals^ will be special,s. Th^re will not be any v?efitoms this season. Freuler will remain on the* Coast- indefinitely supervising production.