Variety (May 1934)

VARIETY PICTURES Tuesday, M«y 29, 1934 Amusements Make Small Fractional Gains After Dull, Low-Volume Week tQcks closed geneVaHy hi. With Volume. improved tyoth recent lows today (Monday), Amusemerits made minor" fractional gklna, Stocks failed to display 'strength shown by wheat, corii and other grains, wheat closing up the' limit of 5c, while corn gained more than 3c. net. Stock market remained dull and almost featureless a.s it has been in past week. Market continued at snail's pace Saturday (2(J) and closed with some dullness that was characteristic of whole week, a week that was marked by smallest volume }n last eight or nine years. Small recovery last three-:days of week brought Dow- Jones Industrial averages to 95.05, or Just .0'8 below close on preceding Saturday. Prices sold ort Wednes- da.y, industrial averages declining to 92;23; The biggest dip of :week came Tucsdr.y. ,ilsq6very..ThUi-E.;ay and Friday was slow and marked by little Interest or activity. Amusement group, on. other haniiJ, had much healthier recovery, and 12 representative issues .advanced 0.905, or niearly a point net over previous Saturday's close. This spKindid showing by film and aniuse- ment stocks brought group back to about where It was the latter part of April. ' Improvement was aided by three stocks going to new highs for year on big board; and two soar^ ing to hew tops on Curb Exchange Group passed 23-point mark and closed at 22%. Even big drop in volume on Stock Exchange did not hit this groiip as hard as many others, the 12 issues used in VartbtV's amusement group-- show Ing that a total of 173,200 shares changed hand? in week, not much less than week preceding. Xioew's common, however, did not share materially in this improve- ■ioient, chart movement showing that I this issue Is evidently In a period of Accumulation. Volume did not fall off materially but stock could, not nenetrate Al% level* tind closed ai 31%. It did not decline to lows reached preceding week and week before, aind throughout week stock did not fluctuate more than two ' points.. Wiarner Brothers conamon acted in much the same manner, -though its fiction was disappoint- ing to many, particularly after favorable ■ earnirtgs report. Radio's Even Level Radio Preferred B seems to have tested out the 30% level for two . successive weeks and. tiever has sunk below 30%. Considering its tecent advances to new highs, it did yrell to get above 33. Stock closed at 32%, or slightly above close of previous week,' If this issue follows its previous trend,, It would again seem to be in process ol! ac- cumulation. However, the trade outlook for immediate future Is too vague to expect much of any amuse- ment issue right n,ow. Pox Class A apparently has. established a new base near 13%, for only once in the last three weeks has It been able to pierce this level. This stock has been most active between' 14 and 15, since Its climb to 17%. Stock market traders were- fav ored most of week by preponderance of good trade news, together with Yesterday's Prices Saies. 800 200 llj'JOO 400 0. 300 1,800 4.800 1»00 1. flOO 1,000 800 $2,000 0,000 l.OOO 5,000 16,000' -.5,000 41,000 Hljtctt.Lon Last cbira Con. Film. 3% 3% „3% 7 Gen. :Elec..20% 20 20 + A FOX A....... 13 14% 15 + % Pathe A..; 22^*21* + ^ Par. ctfs.. 4% 4% ^4%: RC.\ v.... 7% BKO 3 m W. B...>.. fl P CURB Tech, 10% .Trana-L . . 1% BONbS Gen. Th... 0% 0% + % T^vi'a .100 OOti 100 p^f)!l 51% 01% wj^TJi Do ctfs.. 51% 81% M% + % Par-Pub. 52% 51% 51% T J,^ ^Do cits.. 51% 61% 51%+ % War, Bro4. OQ'A 5»% 69% - % •7% +■ %• 2T6- % ft ■+ % 10\S 10 Vi — % 1% J% + %. Bill Saal and Burt Kelly , (form- erly of KBS-Tl«any Plots), fere do- ing 12 indie features fet the old Blograph studios. New York, ior major release. Negotiatlbiis ai'e on. with United Artists reported the likely outlet. First is Dashlell Hammetf^s •Woman in the X>ark,' mystery meller, which Sa;da; Cowian In scripting. Phil Rosen may direct this or others, having been In negotiations with Saal-Kelly. higher grain prices and almost sen^ sational strength In wheat. . Columbia Pictures certiftcates Ter fleeted favorable dividend action late In the week by soairlng 4% points net, and hanging up a new high at 33%. Dividend, of 25c. a share, plus stock extras was de^ dared. Issue was highly active on updid«, 13,000 shares changing hands. Eastman Kodak went to a, new high at 96%,. and cloised week with a net gain of 1%. Favorable decision in Supreme Court on pat- ents was excuse for boosting stock, jiletro - G oldwyn - Mayer Preferred was other big board stock to ad- vance to a new 1934 top at 26%. However, it wound up with a frac- tional losi3. Pathe A Up 1% Other large gains Included Pathe Class A, which was up 1% points net. It sold at 21% during week. Loew's common showed a net. gain of threerfourts. Radio Preferred B; RKO, Paramount certificates and American Seating made fractional gains. Only losses in aniusement group w^re small fractional de- cllnesi excepting Warner Brothers Preferred, which dropped 1% points net. Technicolor iadvanced on heavy volume to a new high at 11%. and flitlshed week with net gain of 1% points. Columbia Pictures stock on curb also soared to a new 1934 top a;t 32%. It showed a gain of 5% points at this level, and all trading was confined to EYlday. Holders of this stock are to receive same payment as certificate owners. Diminishing -volume of stock ex^ change trahsactlohs: probably af- fected Trans-Lux, which dipped to a new low at 1%. Bonds also reflected apathy found In stock trading, but amuse- ment liens in the^ main sported nice gains at close eaturday. Para- mount-Famous-Lasky '47 certifi- cates climbed 2% points, while cer^ tiflcates of •Paramount-PublK 5 % s went up 2 points. RKO debentures also advanced two. points to 31. Of amusement bonds, only General Theater Equipment '40 liens showed a loss, and this was of a fractional nature. Paramount-Publix stock on pro duce exchange was remarkably ac tLVe, and went to 5 on greatly in creased volume. It showed a net gain of half a point at close, Para Summary for Week Ending Saturday, May 26 STOCK EXCHANGE SAAL-KELLY'S DOZEN Turning Out 12 Pictures Which U. A. May Release Ushers Union Finale Seen As Walkout Fals Chi Code Bd. Tosses UA Etmination Battle in Lap of N. Y. Andiorities Ist Runs on Broadway (Subject to Change) The TheatriB Amu^eihent Em ployees Union, liocal 118, is seen as going on. the'shelf , as result of the attempted strike of less than a week's duration. This followed the report of two representa^ tiyes of the Department of Ljabor who checked with front-of-the- hbuse employees, ja,nitors, etc, to flnd that 85% were satisfied with, their jobs and their salaries. The strike vote taken was sup- posed to have covered 2,200 em- ployees in RKO and Loew the.atrea. Only about 100 responded, mostly service employees. The 25 drawn from the Music Hall and RKO Cen- ter were cleaners who are some-' what organized through a cleaiiihg corporation with which the Hall and Center-has Its contract. .At a <;onference at which C. C. Levey, organizer of 118, was con- vinced that his offensive was with- out strength and support, the RKu ?ind Loew chains made ho conces- sions except to consider restoring to Jobs the nien who walked out in sympathy with the strike. 16 C.A. Appeals Some 16 cases are crowding the aippeals calendar of the Code Au- thority, mo^st of these to be passed upon by the C.A^ May 31. NRA aides expect that Skouroses will appeal the N. Y. Grievance B.oard decision finding them over- buying in Port Chester, N. Y. Week June 2 Paramount ^ 'Little Miss Mai-ker* (Par) (3d wk.) (Un- certain). - Capitol—'Viva Villa* (MG) Strand-^'The Key (WB) (29). Rialto — 'Hollywood (MG) (2d wk.). Roxy—'Now I'll Tell' (Fox) (2d wk ). Music Hall — 'Little Man, WhatiSTow? (U) (31). Rivoli—'Born to (UA) (30). Week June 8 Para'mourit ^ 'Many Happy Returns' (Par). Capitol — 'Men White* (MG). Strand — 'Fog risco' (W5) (6). Roxy — 'Such Women Are Dangerous* (Fox). Musie Hair-^'Sisters Under the Skin* (Col) (7). Rivoli —'Are We Civilized?* (indie). $2 Pictures 'Rothschild (UA) Astor 12th wk.). I IjOw.. Sales. Isaue arid rate. 3U 700 American Seat.... f .. 2% 1.200 Corisol., Film (D*.... 23 18,000 Columbia P. vtc... 10% 1,000 ConBol. Film pfd.t... .70 8,600 EAstmnn Kodak (4). 12% 1,700 . Fox, Class A IS^A 33,700 Gen. £Iec. (00c.)..... 20 100 Keith pfd 25% 28,500 L<)ew («..;... 4% 1(000 Madison Sq. Garden.. 51 400 Met-G-M pref. (1.80).. 1%. 47,200 . Paramount ctfs....... XVjt 12,000 Pdthe' Exchange...... 2l>^ 14,800 Pathe, ClaBS A. a^A 82,700 TtadlQ Corp... •> 16 10,500 Rad<6 pfd. B........,. .214 2,800 RKO- 10% 1180 Universal pref.... ..i.. 4% 24,000 Warner .Bros. 18% 600 Do pfd......... 3014 21,800 Westlnghouse ..... v... • Paid jiiln year on account of accunniulatlonB. 1 Unit of'trading, 10 shares. Hlsh. 7% 6% 33V^ 17% 00% 17% 26% 30 20% 4% 24% P% 85%, 4% 81% 47% 4 t » « 4 • 4 • • «'• • I « • « « '< • 1 • v.* • Igh. 4% . -8%: *83% 10% too%- 14% 20% 80 8t% 7 t20% D '2% , 21% 8 . 3.3% ..... . 3. 88 ...... 0% 24% 34'))j.- luB stock extras.^ t New 1034 high. MAJOR DISTRIBS WOUL0 TEST INDIES' RIGHTS The Blue Eagle Is Irking ms^Jor distributors, and they are preparing to test this Issue very shortly, on the subject of Individual buyers be- ing entitled to the same concession miade to wholesale purchasers of film when a grievance board orders a switch In bookings. In other words. If a board orders a major circuit to relinquish certain of Its bookings in favor of an Inde- pendent, the distribs want some- thing done about the rental status. DIstrib spokesmen hold that It is linfalr for an Indle with one or two small houses to be able to. get the same type of deal maule with a big wholesaler. Once the board has held that a major in a locality has over-^ booked the distribs feel they should have the right to redlcker, as though a new deal were being made with the indie. ' ^% 24% 200 Columbia Plots.*. 13% 7%, 10.100 Technicolor 8% 1% 500 Trans LUX (10c.). 18 3% $12,000 Gen. Thea. Eq. 0% ;72 51 0,000 Keith C's, '40...,. 08 102 85 34,000 .Loew O's, '41 47 30 10.000 Par-Broadway 5%'b. "CI 40 55 20% 28,000 Par-Fam-Lasky O's, 147 i52 54% 28% 26,000 Par-Fahi-Laaky O's. '47, ... 51 55 20% 71,000 Par-Pub 5%'b, '.'iO .'•2 64?4 20 83,000 Par-Pub 6%'b, '00. ctfs. 61% 41 18% 5.000 RKO debs O's 81. 05% 40% 186.000 Warner Bros., O'ff, ' 00 OVER THE COUNtER. W. Y, AM. ' iz Roxy, Class A... % De Forest Phono. PRODUCE EXCHANGE. N. 16,000 Par-t»ub •ttut fltock extras, f New 1034 high, t'New 1094 low. +1% - % - % =105^ 46% 40 47% 40% 47 31 57% 4.'i% ri2 .'>i 31 •10 +1. +2% +2 +2 +1 4% 4- % mount certificates on stock ex- change were extremely active on Thursday when they climbed back to 5. This stock slid off later to WB's Net Warner Brothers Pictures re- ported a net operating profit of $38,- 855 for 26 weeks ending February 24, after taxes and charges com- pared with net operating loss of $3,442,S26 In similar period in 1933. Common stock of company reflected this a bit by advancing to 6%, but closed week without ~& gain. Bonds of company showed a net gain of a point. . Silver message of Roosevelt proved a dud as far as stimulating stock market. And after publica- tion of message on Tuesday, stocks sold down on following day. Hope of amending securities act to enable legltimatiB business to expand and expectation that stock exchange control measure will, be compara- tively mild If and when actually passed, are Items of real Interest Just now. usual decline In busi- ness activity this summer may not be as bad as indicated a month ago. But threat of strikes and. recent outbursts of strikers in various sec- tions of country have not mate- rially Imprbved sentiment in Wall Many feel that there will be s, better feeling after Congress ad- journs. Numerous doubtful meas- ures find the forms they will eventually take as laws will be out of way for a time, and then traders will be able to get a much clearer picture of whole outlook. Continuance 6f the advance In grain ^prices is apt....tQ j)e _reflected Iri'tlme In stock prices. Just: i^ow, the present dullness in market and minor fluctuations are beginning to look like present period Is one of quiet accumulation. Whether this drab, dispirited market will con- tinue until Congrress is out of way Is anybody's guess. But it Is evi- dent that present market is strictly professional and that public partici- pation Is at its lowest 6bb. A con- tinued period of accumulation over the next week or so- makes the mar- ket look a lot more like a buy than a selL A. to N. Y. Margaret Ettinger. Ross Shattuck. Bert Wheeler. Austin Keogh. Gene Fowler. Howard Hawks. Alice ti'aye. Sammy Welsenthal. Adolph Zukor. J. M. Ridge, James Dunn. Katharine Hepburn. Mr. and Mrs. Edward G. Robinson, Harold LJoyd. Arthur Landau. Andre "Befl&y; ' ' Richard Wallace. Al Jolson. RUby Keeler. N. Y. to L. A. Marian. Marsh. ■Teet Carle. Sidney Skolsky. George Schenck. Bebe Daniels. Ben Lyon. Bill pine. Pred Astaire. BEBLEY GOES ABBOAD Hollywood, May 28. Andre Eerley, French actor who was brought here by Fox to appear In the French version of 'Caravan/ leaves for the east today (Monday). He'll sail for France within next two weeks, JUDGMENTS (First nam^ In that of the debtor; Judgment taker follows.) George i\. Godfrey; Hubert & Hu- bert; $561.; Shepard Aniusement Corp.; Bank of U. S.; $666, . Rayart Picture Corp.; Bmplre Laboratories, Inc.; $7,316. Attachment (First name Is that of the debtor; creditor. follows.) Lyon & Healy, Inc.; Banner; $10,000. Chicago, May. 28. Jidcal grievance board refused td decide In the case of the Morris • theatre,: Morris. Illinois, against the United Artists exchange on a plea for 10% elimlnsLtioh as provided In the code. Case. has been certified for a decision by ^the national board In New York. Morris theatre asked for a ,10%' elimination right as, designated In the motion picture code. But : the UA attorney pointed out that United Artists signatured the code originally only, on the representa* tlon by the Deputy Administrator, Sol A. Rosenblatt, that the 10%' elimination clause would ^not apply to UA product since it Is sold on Individual contracts. ' Morris theatre, on its side, pointed out that Rosenblatt also Interpreted that the 10% ellmlnatloh would -be okay on UA pictures If the exhlb bought them on a single work-sheet even though the contracts; were In- dividually sigr^atured. The theatre clalmis that the pictures were hdught from one" work-sheet. This is the first case of this kind nationally afid Its decision will af-» feet the sales policy of UA during the selling season. For this reason the local boai^ hesitated to render a decision for ia national policy. Metro Elimination Another question was the. claim of the Montclare against Metro, the theatre asking for the right to name elimination within: 21 da,ys after availability announceinent; while Metro insists oh 14 days, according to its current contracts. However; lii the battle before the boiard the matter of availability interpretation brought the board up against a stone wall, Metro wants the availa- bility time to be considered from the time of the first release in the terri- tory while the exhibitor claims that the availability and notification- period should start with the notice through the liubllcation of the regu- lar monthly release sheet. Grievance board couldn't decide on the first try and will reconsider the problem this week. INCORPORATIONS NEW YORK Albany. Mlllhyde, inc.;. operate ihuslcal works,, literary works; dramas, etc.; capital stock, 100 Bhareis. no .par yalue. A. H. Garmalze, 801 West End avenue. New York; S, Abrams, 31B Mt. Eden avenuei,- Bronx, and A; Brackman, 24Q1 C3d street,. Brooklyn. Wlnnlnger, McNamora & . Cameron, Inc.! theatrical enterprise; capital stock, $20,000, Charles J. Wlnnlnger, Peter J. McNamara and Diincan .Cameron, all ot 616 Madison avenue. New York. Wired Vision Vtllltles, Ino.; television equipment; capital stock, 1,000 shares, no par value. Arthur J. Block, T, McOurn and a. W. Daly, all of 11 Niagara street, Buffalo. D'Andrea Manufactnrlnic.Co., Inc.; mu- sical Instruments; capital stock, 100 shares, no par value. Ann Miller, Cecelia B. Simon and Sidney Slselmah, all of 551 Fifth, avenue. New York. Westcliester Theatre Festival, Inc.; pic- tures, plays, etc.; ca^ital stock,. 120 shafes, no par value, tiouls H, Miller, William Heltzler and J.uUet W. Levy, all of 1450 Broadway. New York. American iWcca Corp.; making of .phonograph -records;. _capltal_stoekr .100 .shares, no par value. Nathan Fnlkiltalpli. Copland and Alfred H. Schultz, all of. 745 Fifth avenue. New York; . Clilck I^wls Theatre Corp;; operate theatres of all kinds; capital stock, 200 .she.res, no par value. . Jeanette' Zucker, Blanche Posner and Annette Freeman, all of l501 Broadway, New York. Colony Radio & Television Co., Ino. t genera) tddld business;"capital, .stock, 200- sha^es^ no par value. Dorothy Golf and, 9720 Kings highway; Julius Dell. 170 North Ninth street,, and Ethel Teltier, 327 Bedford avenue, all of Brooklyn. Javee Amusement Corp.; pictures; capital stock, $10,000, Alvln Celfon, Jackson G, Cook and Charles Rubman, all of: 11 West 42rt street. New York. Mnnter AmuRemont Corp.; theatrical business of all kinds; capital stock, $2.000.. BenJ. Woher, 865 West ISOth street;- Shirley Platz, 67 West 44th strfeet, and Nathan Parnea, 166 Second avenue, all. of Now York. Change of Name From American Radio Sales Company, Inc., to Ifahillton Radio Corp.; filed by Harold Alpert, 44 Court street, Brooklyn. issolutibns American Tlieatre Corp., Schenectady; filed by Howard Hendrlckson, 78 State Btreet;=Albany.- CALIFORNIA Sacramento. HoIlyiVood Knterprlses, Inc. Capital stook, $60,000. No stock BUbscrlbed. Di- rectors: TllUe Ellman, Murray Ellman, Murray Fell, United Artists Stndio, Inc. Capital stock, 100 'Shares, no stook subscribed. Dlrectoi^s: Abraham Lehr, J. B. Codd, A. R. Evens, 'William B. Dover. Permits to Sell Stock Santa Ilarbara Theatres, Inc. ThentrA operating. To. issue 30 shares of total of 100, par value $100. Strand Cinema Corporation, theatre operating. To Issue three shares of 1,0 OA total, no par value.