Variety (Sep 1935)

24 VARIETY PIC T E S Wednesday, September II, 1933 306-Allied (Continued from page 7) booths of close to 100 houses, 42 of which are operated by Brandt, 'vf^ib air along:'iias' Been" Mrd"up the actual head of the Allied union. Brandt Is p^FGDld^at-of rth&-I«depcndi-- ent Theatre Owners' Ass'n, allegedly inaklng Allied a company union. "Fhe afmTstlce ' " """'-yO 6 ariS Allied Is accepted as meaning that the circuits, presently In negotia- tion -with.. 306 on a jiew .seal?,, c^nr not get operators In t event of a too lockout.- -Unconflrmcd fepoi't -is that the circuits have been keeping 200 Allied members under cover in event of a sudden strike. From the 306 angle, the peace pipe with Allied, means that Bassoh can go back into negotiations with the managers bet- ter fortified to force terms. During the past week two 306 pickets received 30-day ..sentences and one a flye-day sentence from Judge Ruddlck in Brooklyn, N. Y., after being arrested on picketing ac- tivity in front of the Sanders, Brooklyn. While expressed in union quar- ter.i that there still remains some chance of getting George Browne, president of International. Alliance of Theatrical Stage Employees, to rescind his order against permission of a .strike to Local 306, the opera- tort in New York booths are work- ins at the $1.80 top offered by man- agers. They went on this basis sub- ject to final agreement reached, •which would be retroactive, but are claimed disgruntled over having to cu>: to this scale while negotiations are still In progress. Under th© arrahgement, the opr eratord take the $1.80 top an hour and give the theatres I.O.U.'s for th.»^ amount. In other words, they do not accept this as official pay, money paid being on account if final scale. Is higher. If under any new contract reached, the scale Is less than this, then it's a bookkeeping Item for the theatres In deducting. difCerences. : Salary difference, •whether In favor of boothmen or theatres, Is retroactive to Friday (6). Understood that while Brown of the lATSE did not rescind his ban against striking by 306, he has not; categorically refused to. change his earlier stand and the matter will be reported and discussed before a meeting of the 306 membership called for this morning (Wed.). Inability of New York Operators, Local 306, to get a higher sc9.1e. frorh the managers was openly feared during tlie past week as re- .BUJ,t,0Jt,..<i!?^*Jp,^'ng?.t3..1n the situa- tion, notably refusal of the inter- national Alliance of Theatrical Stage F«nii>lpyfia .to. wipr-Xid. Mn .or.des Jor.r. bidding 306 the right to strike. When a special committee of five .wfW^.^i.eii^^t -tj?..W.a^illi.T),St.o,n,..aft^i^^^^ membership body of 306 had insisted on lifting of the. order, .George Browne, president of the^LATSE, still refused to give permission. '' "Contention' 'of '306•■• was •thaff' ma local had tv/o stylkes- on lt~Ih nego- TOfl9ns"-wnH~lh-e-man new scale because It did not have the right to strike, claiming this order banning a strike became a weapon In the hands of the theatre men. Oh the other hand, observers and insiders point out that there has been no justification for striking so far, with negotiations proceeding satisfactorily, as 306 admits, and that In the. face of no discord, the LATSE may feel that permission to strike would be like waving the flag; before a friendly bull. 306 Wanted Str^iks The membership of 306 cried strike the minute 306'3 wage scale negotiating committee Informed It that the union had acked for booth pay ranging from $1.50 to $2.60 an hour and managers Bad offered $1.40 to $1.80. At this meeting, 306 heads got authorization, from Its membership to continue neg:otlations In an effort to reach an agreement and several conferences with man- agers were held without making the headWay expected. Managers dur- ing the past week asked Joseph .pi Bas'son, president of ' 306, to get power to close a contract at best terms and membership, called Into session, rejecteid this request and voted to try for rescinding of Browne's non-strike order in fear that the managers had the best of advantages if Bassbn were to sit down- and close with .them at any scale which could be agreied upon. •Meetings between the 306 and manag^er committees continued, membership, body also voting that negotiations be not stopped, and Friday afternoon (6), It was agreed that operators would receive pay vouchers at manager scale ranging from $1.40 up to $1.80 an hour, with a difference In scale retroactive to that date (6). Up to then operators had been getilng $61 a weeic in de luxe houses for a four^day week and $64 In other theatres for a five- day week. PAR-BROADWAY CORP^ COL/S NEW ISSUES Listing of $8,87&,0'00 of new Par- amount-Broadway Corp, first mort- gage sinking fund loan certificates, diie 'ttK'TJ^'67'TU;~14S6;'^Tis' irpiwoTed- last week by governors of the N. Y. stock exchange. Coincidental with this action; ■'whieh -'iJemitt'ed- t^^ Ing In the new bonds, the exchange suspended from further dealings the bid" l»ontffl'';a.'hd ' cteittftca.tes- vhleh were designated as 20-yeiar B%% sinking ifund- llehs and certificates of same, both being due Aug, 1, iS:50........ - .-^ The new Paramount Pictures 6% J)fljdda,..due_;fc'li5Vr;.'wet^^^^^ for trading in the previous week; virtually taking the place of the old bond issues. Exchange officials ruled that the Paramouiit-Famous- Lasky 6% bon^sr du6 In 194T, and certlficaj:es of'deposlt for same (due same date), were suspended from dealings as of Sept. 6. Columbia Pictures - Is making preparations to sell 75,000 shares of $2.75 convertible preferred stock w;hlch \Vlll, supplant the present $3 preference Issue liow listed on the Over-thc-Counter market. The new issue has been underwritten by Hemphili, Noyes & Co., a portion of the proceeds to be used to retire the present preferred stocit, with the renialnder to be employed as working capital. Stockholders, of company will vote on Sept. 18 regarding increas- ing outstanding common shares from 300,000 to 1,000,000. SHOCK SAVERS into your theatre t ^ You can't put shock absorben on a theatre chair to take up the shock of a hardi lutnpy, unc.on>fortable seat. RESEAT with comfortable chair& Ask Us, "How can I leseatand pay lor liewshaiis conveniently?" AMERICAN SEATING COMPANY i't}t»lMi and AviiMamt G«fl«*t OiBcMi Gttoi lUpldt, Michigan jMf ■ BRANCHES IN ALL PRINCIPAL CITIES S^^ta f;OMFORT-Thc Greatest Star Of Them All/ Stock Market ntinued from page 6) with ne^ deal projects, started up- swing. pVibllcatlon served as signal for an outburst of activity and re- :no%^-ot70u n m o vem cntT^n- a -wi de front. hcorporations NEW TORK Albany. Namber One Theatre, In<:.; theatres, concert sardehe,. music halls, etc. ; capital stock, 100 shares, no par value; Melvtn A. Albert, 205 'West.'Sjlth street; Herbert S. Keller, 172 West '79th street.^-and Milton C. Welsman, 101 Central Park west, all of New Tork. Namber Two Theatre, Inc.; aame as above. Number Three T|i'eatr«), Inc.; same as above. Number Four Theatrci Inc.; .same as above. Nanntter F1t« Th' , Inc.; same as above.' Number Six Theatre, Uc.) same as above, • Number Seven Theatre, Inc.; same as above. Number Nine Theatre,' as. above. Number Ten Theatre, Inc.; same aa above. 'Number Eleven Theatre, Inc.; same' as above. Number Twelve Theatre', Inc.; saiqe as above. Namber Thirteen Theatre, Inc.; same as above, Number Tourteen Theatre, Inc.; same as above. - Number Fifteen Theatre, Inc.; same as above, , Number Sixteen Tlieatre, Inii,; same as above. . Number Sixteen Theatre, loo.; same as above, s. Number Seyehteen .Theatre,'Inc., same OS above. Metropolitan Playhouses, Inc.: theatres, -music hall.i, etc.; capital stock, 332,238 Hhare.s, no par value: Jos. M.- Schenck, Hotel Ambassador; Herbert B. Swope, SOS Park avenue, aind 'Winiam P. Philips, Hotel Park Central,- all of New York. GcnrKe nersliwlu- FabllHhIiig corp.; printing and publlnhlne of music, etc.; capital Btock, 100 bhares, no par value; Georse Gershwin, 132 East 72nd street; Sidney "Wm. 'Wattenbcre, B51 Fifth .ave- nue, and Irving Bayowlti, 501 Fifth hvc- nuft. all- or New Yovk. uper Sports AttrnctloDs, Inc.; thea- trical business of all kinds; capital stock, 200 shares, no p,-ir value; Philip P. Schor, Samuel I... Cohen and' Irvin j B-J Levlne, all of 170 Broadway, New York. llnvnnn Cnsilno corp.; theatricals, clubs, etc.; capital stock, . ^40,000; Herbert Mitchell. Y'ftoil A. T.anncr and Harry Weber, all of 15C0. Broadway, New York, Sidney Amuseirent corp,r; sccurlttps; capital stock, $10,000; Samuel Br.and, 22 Sast HOth street. New York; ' Rose B. BiHbop, 810 Dawson street,. Bronx, and Edith Radow, 1027 Ea.st 28th street, Brooklyn. Dear Mr. President, Inc.; theatrical business; capital stock, 100 shurRR, no- par value;. Jas; S. Llnburn, Henry Denker and Laurence S. Bushnell, all of OdS Fifth avenue. New York. Murjones Productions, Inc.; theatrical buslnoS!<; capital stock, . $1,000; Eugene Blanc, Jr.; "Francis. A. Devln and George A. Kulttlnen,' all of 41 Park row, New York. ; Body Bcnntlful, Inc.; theatrical busi- ness; capital stock. 150 shares, no par value; Louis S. Aldrlch, Ann Martin and Lilly RoBcnthal. all of 321 'West 44th street. New Yoi-k. Pathif of Glory, Inc.; theatrical busi- ness; capital stock, . 100 shares, no p;ir value; Arthur Hopkins, 23G .'We.<!t 4Cth street; .Tos. P. Reilly and Sydney How- ard, 236 West 40th street, all of New York. Theatre FoundiftlonH of America, Inc.; theatricals, etc.; capital' stock, 1,000 shares, no par value; Aubrey. Schenck, Hilda Pachman and Mary C. Monahan, all o( 102 West 42nd street. New York. Llesc-Meho, Inc.; musical Instruments oC all kinds; capital stock, 100 shares, no par value; Oscar and Pauline Llese, 70 Ocean .avenue, Brooklyn, and Ralph' Lleso, 17 West 67th street. New York.. James IVallington Enterprises; inc.; theatrical enterprlseii; capital stock, 100 shares, no par Value; Milton Cash, Michael Herman and Solomon J; Dworkis, all of 170 Broadway, New York. Not the least of the groups to at- tract" "'sb'e'clVir ^tftiertlclo^tr' -weee^ tire.' amiieements. Radio common gave hint of getting back into its old- tlihe stride ' of 6iS\?e1:ar y'eii?i9."-«tg6,'^ blocks of 6,000 and 10,000 shares changing hands on several days. Stock made a •ne'w peak at $8 and was -oniy a fraction fcoin.4hi8..JvUrb at^ the wlnduip. This action •was jcooiddBJ^ed- es ijie c l all y g ood In v i of marked strength In the previous week. IIKO was another strong feature, rising to 4% on something like 16 times <ita customary volume. Sold down fractionally at the close but still boasted an advance of 1^ points on the week. Both RCA prefM'ence Issues were actively higher. Radio A pushed up to 67% and was up Radio B got to 66 before meeting profit-tak- ing. Showed a gain of 3 points at the closing level. Warner ros. . common was up nearly a p. Iht at one juncture. After making a new high ait 6% It fell back to close with only an advance of flve-elghths. Preferred justlfled the confidence of numerous shrewd traders by rising to. 44%, new p^k. Met plenty of pressure In late trad- ing. American Seating^ again pushed forward, climbing to 13>A. It was a. igaiiner-of 1% points at the close. New Pathe common went to 7% but was off fractionally on the week. Of the other new issues to appear on the stock exchange, 20th Cen- tury-Fox common. looked best, it pushed iip to 18^ but later dropped back a point. At the blow-oft this issue showed, an advance of 1%. Preferred went to a new 1936 high at 27%. It was up only'fractionally at the fliiish. Paramount common registered a. new peak at 11. First Preferred rose to 93% but sold down t 93 at tho T.low-oft.. Second Pre- ferred held isteady at around (12 a share. Both of the electric company is- sues were strong. Westlnghouse common was sensational, soaring to $76 per share and boasting a gain of 7%. General Electric climbed to )34.12^ a, share, showing an ad- vaiice of 2% points for the week. Iioew's common was another strong spot,- getting up to 44>4. At the closing price of 43% Issue was up 1% points. Preferred went to 106, a gain of a point. Directors held to the old $2 annual divvy rate on common, voting no increase or cash extras. Fox A (old Issue) was removed from stock exchange tralding, clos- ing price being 17%, virtually the highest of the year. Summary'for week end! ahead, four points at the finish. Only mai'kedly weak spot among aimsBSm^ntc was- Columbia- Pictm^is- certs. This stock dippied six points, winding up the week almost on the sumably was over disappointment of some becatise large stock dividend was not declared at recent directors' Strength In General ew^-doxibtedlyllwisl'.pa rM tlon of directorial action in boost- ing dividend from 60c to 80c per share. Eastman Kodak common was swept f<?rward ,on the .bullteh aenti... ment in favor of Industrials. Was up 6% points at one time. Peak was reache d at 153% . stock b ei n g Spurt of activity in Trans-Lux, listed on the curb, pushed this stock up near best previous price of year, 13.26 a share.' Issue showed a gain of flve-elghths at this level, Co- lumbia Broadcasting stocks made new highs, with the asking price at 141.12%. Greatest advance of any amuse- ment lien was shown by RKO de- bentures, which shot up 14 points to a new high at 65. Next biggest gainer wiat; Warner Bros. 66, which Jtunped 3^ points to 82. Had been to 82% in earlier trading. New. Paramount Pic. 6s went up 1% points to 96. Paramount-Broad- way 6s, the new obligations due in 1955, opened at $61.60 and did not move; Loew 6s -went to 105 for an advance of 1 point. General Theatre Equip- ment liens were iip 75c at 16, new high. Keith 6s advanced the same amount to 90%.. Paramount-Famous-Lasky 6s and Paramount-Publix.6%s and the cer- tificates of these were removed from trading during the week. Par-F-L bonds closed at $106, up |3 on the week, while certificates finished at $106'%, a fractiohal gainer. Para- mount-Publlx Hens closed at $108, an advance of $3 on the week, WitjHi the certificates quoted at 107.75, up approximately the ,same|.. Fact that the market was able to pierce the 130-2 level in Dow-Jones Industrial averages on greatly In- creased volume made some look for further extension of gains, particu- larly if the rails or utilities confirm this strength. Manner in which some rails followed through to new high levels individually was rated encouraging. As noted a week ago, the past week was held In the Heht of a crucial one because many traders expected it. to definitely determine If Industrials could go through the old barrier around 130 and 132. Since the test was successfully com- pleted on the upside, chartists hold that the market's future looms bright, even though' there may be temporary setbacks from time, to time. Issue and rat Hlgti, American Sent Col. P. vtc. (1)1 73 Consol, Film i% Consor. FIlm pfd. (1V4)» 17%. Eastman Kodak (6)" 'IBSVi Fox, Class A 17% .Gen. Elec, (80c.) ■ '34% Loew (2) 44% Do. prd. (014) too Madison bVi, Garden.. *WA Paramount ........t ,'. *1I Do. lat pfd.. •1)3%' Do, 2d ptd,..,,' 12% Pathe Film.... •7V6 Radio' Corp.,,.,..,...... •8 Radio pfd. A. ........... 57' Radio pfd. B 05 RKO MV* 20th Century-Fox *18% Do, pfd.... •27% Universal pfd 34 Wnrher Bros •€% Do. pfd...... ,. ^44% Westlnghouse (SOc.)* •75 Do. pfd. (3'/i)...., US. Last. 13% 60 •' 4% 10% 152 1714 83% 43% 100 lOli 1( 03 11% 0</j 7% 57 0314 3% 17% 20% 33% 014 42 74 115 CALIFORNIA Sacramento. Natlonnl Kntorprlses, Inc.; theatrical, capital, 100 shares, no par, permitted to issue all. Blrcctors: Joseph Welnstnck, Edward Welnstock, Harbort Minsky, Morton Mtnsky. FoKtlvul FroductionB, Inc.; Los Angeles; capital stock,' 100 shares,' none sub- srrlbed. Directors; George Ratterman, Morton Gnrbun, Sylvia Kaye, J7 3% 10 $24,'),000 Gen, Thca. Eq •in U214 19,000 Keith .Cs, ia.... 00% ICfO 12,000 Loew 6s, ■41..,. la-i •1.000 Par-Uroadwoy 514s, ' 0114 lOO 58% 2,000 Par-Fam-Lasky 6s, 7..•t06 100 50 .7,000 Do. ctfs ;: ......106 108 . 60% 2,000 Par-Pub 6Vjb, '50. , , ,^108 107% B8?i 12,000 ^Do. ctfB...., . •107% 0014 03 6,17.000 Wr 69, '.-i.-i^ '00% K 2Cli SOjflOO RKO debs •fl,'5 82% 48% 602,000 Warner Bros, Os, ' •32% OVER THE COUNTER, N. Y. Bid. Asked. Bdcast A Col Plots, pfd...... wVi M% Pathe Ex. pfd.». • New 103.1 high. Paid this year. ' New issue. 2%