Variety (Jan 1936)

t^ed|iieBdiiy» Jimuarj 1^ 1936 PICTOBES VARIETY 31 Estimate 20<li-Fox Net, For '35, $4>M000 Current estimatei} In .Wall' Street are that 20th Century-Fox for the year 1936 wlU show net earnings of around |4,400,000. This would Include nearly $1,000,000 In dividends recelvaihle from 20^^ Century-Fox Film's 43% itqck Intcilrest In National Theaitre (FoxWest Coast), If this estimate Is correct It means net earnings for '36 are more than three^ times over -the former Fqx Film company for 1934. The merger of Fox with 20th Century was effected last August. Stock Market (Continued from page 6) bullish In last we'ek's trading In Btocks, with nmusemientB giving an '«xc0llent account of themselves. Klne amuscnnents bit. new highs for present ye&r ahd 1^36. .. as three hoiids registered best prices In more than two years. Amusement Group hit 43%. as measured by the averages for 12 representative Issues, the highest point reached in, more than . three years. This new top. was made on heaviest volume 'since the middle of last November. . Group finished at, slightly. belQW 48% for a-' jgaln of 1.718 points. Low mark for week was 41. Stocks to reach liew 1936-6 peaks, their new highs and net galq for week were American Seating, at 26^. up 2;^ Columbia ^Icjtures pfd„ at 60, up 2; Radio common, at 13%, gain of 26c.; RKO, at 7%, up 1%;. 20th Qqntury-FoKi common, at 27,, advance of 2%; 20th-Fox pfd., at up 8%; Warner Bros^ commou, at 10%, up 12%o;;v.yireptln^houBe common, at 102%, "ah advance' of t%, and Westlnghoiisb pfd., at 127%^ «p V" •■• . ' ^^:-:t-:t>. o'^ General Theatre iSfiulpment lletA and certificates of same-went to liew. highs at 26%. The bottdb shbwed an advance bf 8% at the cldse, 26. Keith. 6b also made new 1936-6 peak at .96%, up 3 points on the week. . Amusements followed gener^ UP^ trend, most,.: of time, many Issues hanging up new highs In Friday's (10) trading. RKO made Its neW'tOlpi that day, after it had gone fc^rward on comparatively huge volume '.the preceding, day. Twentieth CeiiiituryFox issues also made their new highs on Friday, ' after reachink, hew peaks on two previous dayA. The .Century '^lub After getting Into^r .the select Century Club on Tuesday; Westinghouse common later lius^ed forward to 102%. Although tiot making 'a new high, Eastman Kodak common again came back ifttb favor as It was. thrust upward«\ 4% polntB to 163%. Universal preferretd' iEigi|..in wiM taken In hand as thtil'.weeK plosed and pushed up to . $9%, .Stock spurted an advance 6|^6^ >p9lnt8.;at. the blow-oft. Radio B^bo resuriied its advance by goings ,for\vard i» 90%, a short distance fromi previous peak. This issue was u'iT 4WviM>iati« on the week. t^v.^, ,i, . Paramount Ist pfd., wueM.'.faa3 been featured by wide BwIHgiSHiybbi cent trading, advanced to ^vr.M-i$Pis level. It was up 2% polntiiii: 'Bt^K wound up trading at 81%| ''ittlik.lt^f: _ After two weeks of marklipg i'l^e, the two 20th-Fox stocks again were whirled upwards to new tops. Chartwlse, 20th-Fox common^ fol lowed Indicated upturn by shootings to new high at 27; Such'tn^liVe'wis anticipated by chart readers, since the ^tock had fluctuated between 22 and .24 for two weeks and ait cbnBiderably lower levels than In the two preceding weeks. Stopk drifted to these lower levels on diminished volume and. In addition, there was some evidence It had been fairly well clean^ out for advance. Continued strength lii Radio B apparently is based on expectation that recapitalization plan,, on which Summary for week ending Monday, Jan. 13i STOCK .EXCHANGE loBua and rat*. Hlffh. American Seat • *26^ Col. P. vto.*(l)t... ^% ConaoL Film ; ..Wi. Conflol. Film pfd. (1%)*... 1»14 Col. Plct. pfd •61 Eastman Kodak (5)| 103^ Do. pfd IM Oen. Elec. (SOc.) . . . . . .'. 39H Keith pfd. (7) 83 Loew (2)1 M% Do. pfd. (6%) 105 Madison Sq. Garden (80c.)t...... 10^ Paramount • • • • 10» Do. Ist pfd 83 Do* 2d. pfd* »•*>•••••••••*•••• .l^Ti P&th8 •••••»••••■»•.•••«»•»•«*•• Radio Corp. *18%. Radio 'pfd.' A. i. WH Radio pfd. B; • 00% RICO ••'.*•.••••.•••?••••«••.•'• 20th Cent.-Fox..i".....^.. ...... Do. pfd .... ................... ovtb UnlverBal pfd 59% Warner Bros.... Do. pfd.. o2 Weatlnghouee . 'lOZ^i Do. pfd. (3V4) 'WTVi Joe Kennedy Is working, will Include payment of considerable portion of $21 due on this issue-In back dividends. After making n6w top at 92, :lt has not been able to penetrate the 90 mark. Chart experts believe that Radio 'B is lii a 'considerably Improved position as a result of healthy shake-out In previous week which dropped the Issue to 82%. Since then It has held above 86. Plenty of resistance -h^s been encountered by Warner Bros, common between 10% and 10%, but the s'tock has been able ta. hold consistently above 9%. Encoulraging . factor to chartists Is that It has shown the greatest volume , on the upside. Main question now !l8, whether the stock can decisively penetrate the resistance level, around 10%. ;L6e,'i|ir'B . common, has managed to stay ab6ye!'6i$ how' for' eight weeks, .but has been. Unable to. get through thQ' 65 Jevel : after., a spurt late in t)ecemli«r . carried 1( to this new high l^rlce. ' lAtter part of December .;wltnes8ed a' .retfetton which cariried if dAwb tQ ..r&0%: on' sizable' volUme. Further teat of this lower level was made"'1aBt ^v/eekv -wfaen th^' Issue, ^oppid to 51%.: ' • ' \,Abov<. 40Amusement Group has been .-able to hold ii,baVe the 40 mark, as measured bX-.-tiie, averages, for the last thr^ bf'.l foUr .weeks.. . Reslsts^ncci level around : 43 was definitely plekrced last we^lt on heav}^ volume. I^bls would Indicate that the groui^ may go . higheir before reaction with Reading .trade Indlcea con tlnulng to climb and make a rosy pldture; 'as compared with reports frbjn liiduiftry. at this time last year. Wall ' Streetf. Continues to be con seryattyely bullish/' A fairly accu rate: indication of this frame of ndiadt is fomid las.t week In the boost III $:t«iK ''«^h.a««e seat p^ The top sali^' -Mhltilh was . at. : |166,000, mark«d ' ()ii <>^dvahce of • |20<0(rp. over the la^t sale in 1936. an^ was. the highest iprlce i>ald since Fj^bruary, 1934, wheb one changed hands -at 1190,000. , . , ■ ; J-' Best performance by an jamuse. nient Issue on the curb was Techr nlcolor. Evidences that. thlB^ stock was being groomed for. ah. early move have been ylsH^levfor-rtlfe "last few weeks. The stock juBtlQed this belief last week by. spurting to 21% Even In the. face^ of ° pt>oflt.^taklng, Technicolor showed. ''a gain' of 3 points net. > Tran^-Lu^^ which Is sw&yed to .' some..] ejctent by the amount of volume \on the 'stock exchange, Bnapsed back to. 3%, near its best 1936-6 price,' a fractional advance on. the week;'" In addition to General Theatres and Keith, obirgatlons. iaimusement liens generally were strong. RKO debentures pushed forward to 82%, but dlpped'tQ -iBO at the gong.. This •gave these bond's' a 2xpolnt gain. Warner -Bros. 6s held around the year's high much of the week, finishing near the best prices for an advance of 1%. , Loew 68 became actively higher, n'earlng the 106 level near the blowoff for a 76c gain. Paramount Pictures 6s were the most active of the Jilgher-priced Hens. These obllgatllbs went to 95%, hut were pushed back to 94 at the close, for an advance of 75c. Retire $M)Oil , — 19S5-'86 — , Sales. Hl^h. Low. 4% 14,000 M% 40 7,200 3% 10,200 22^ 14% 6,800 61 48 2,300 1T2>4 110% , 2,1)00 IM.. 141 ' 10 40% 20% 68,000 90H 34 160 65^ 34% 82,700 108 102 000 11% 5% 200 12 8 60,200 101% 67 8,800 14% 9% 26,300 8% 4% 13,200 13% 4 341,0004 62% 60 . •■i.m 92 84% 18,100 7% 1% 198,700 27 18 19,01)0 30% 24 80,400 73 20 .300 10% 2% 90.700 52% 14% 000 102% 82% 35,000 127% 00 180 • New 1936-0 high. t Plus stock extr^. .* Paid this year. i Plus cash extras. Net Low, Last. cbg. 22% +2 41 43 6% 6% 18 19 *i 46% 60 168 163% +4% 163 163 +8 87% 88% 80 88 "+8 +» 61% 64 107 108 ±\ 10 10% 10 10% + % 80 61% +1% 11% 12% 7% 7% % 12% 13 + \ 64% 65 +4% 85 89% 6% 6% +1% 23% 25% +2% 81% 34% +3% 60 69 +6% 10 10% + % .60% 61 95 101 +5% 12J% 127 +1 26% OG<i 100 03 07% 88% 80% Bid. 45% 08 6% 0T% 103% 65^ 84%. 2fl% 43% lAaked 47% 100 '' . 30 Columbia PIcls. 81,700 Technicolor 7,200 Tramllux (2 .)t 800 Universal Plct BONDS 1781.000 Oen. Thca. Eq. '40 •26% 104,000 Keith Os, '-10 *06U 0(!,00<» Loew 6s, '41 104% 87,000 Par-Broadway 6%a, ' «) 435,000 Paramount 6s, '55... 05% 02,000 RKO deb Os 82% 103,000 .Warner Bros. 6s, '30 88% OVER THE COUNTER, NEW YORK 21 los-Ti 08 1)3 87% 40% 21 8-% 0 25 06% 1W% OS 04 IKi' -1% +3+ % +3% +3 + % -1% + % +2 +1% • Xew 1033-6 high. T Plus stock" extras. t Pnid this year, i Kew 1935-6 low. 20th Century-Fo.:i^s convertible 9% ^iebentures,. dUe next April l, "prob-: ably will be .re^red out of treasuty fun4|b^.>i. Company does iiot feel tha,t ^nytnew.'.Anancing will be necessary. The^^^ Fffz Film Corp. debentures total 1li;696.p00. Twentieth-Fox also is contemplajt^ng. changing the first sinking fund issues' of Fox Realty Corp. of California and Fox Film Realty Corp, for bond|i bearing a lower -Interest rate, thereby effecting a material saving each year for the company. ,As of last March, these realty is-^' sues totalled |1,666.300 and |748,900 respectively. In case.thls new financing Is done, .ne parent company probably wUl have to register under the Securities Exchang^ Act. . Reports current in Wall Street were that the recent efforts by several Investment firms to buy the holdings of Chase National Bank In 20th-Fox thus far have proved unsuccessful. The Chase b^nk, on Aug, 26,1936, held 67.01%, or 774,763% vshares of preferred, and 3i.64%, .or 387,376% shares of common.,.. . Tentattve naoves 6t 20th CenturyFox 'to .'«>btaln' control and operittloii of f'FoxrWest Coast and affiliated clFcuits'were looked on favorably In the stt'eet'last week. Financial .obr jserv.er8;.feel that such a move. If carried to a Buccessful conclusion; would obtain .added outlets for company product and eventually working for further Increases In income, directly .and Indirectly. hcorporatioiis NEW YORK Albany. Tim son Theatre Corp., Manhattan: operate theatres, .eto.; capital stock. 100 shares, no par value. Max Oreenfleld, Minnie Mazure and Racbtfl Meezad, all of 621 Fifth avenue. New Tork. B. J. Servlee Corp., Manhattan; motion picture business: capital stock, 200< shares, no par value. Ann Victor, 58 S Southern boulevard. New' York; Florence Abramsoii, 60 East IStb street, Brooklyn, and Rhelta K. House, 16 Ollnda avenUe, .Hastlngs-on-Hudson. Saittfred Theatres, Ine., Kings; theatricalbusiness; capital stock. 110,000. '3amuer,A. Feltaman, 731 Vermont street; Milton Drexler and Mildred Snow, 26 CQurt -street,^ all of Brooklyn. " Cafldax Prodnrtlons, Inc., Manhattan: thftatricar business; cajpltal stock. 102 shl^r^aT no ,par vc^lue. Gerson H. 'Werner, Dorbihji' . Welnbierger and Fred J. Leonard, all of tZ6 West 44th street, NeW-.Tprk, ' • v .^Moclated Aetora, lac, Manhattan; employlmbnt agefKy 'r.for actors, etc.; capitalstock, 200 ehares, no par value. May:? Sarton, Waldemar Kaopet and Ranhey. Wilson, all of 1775 Broadway, New Tork, .Falladlam Bealty^ Corp.. New Tork; realty; capital stock, $20,000. Dlna Schwartz. 874 Eastern parkway. Brooklyn; Harold M. Geller, 621 Fifth avenp9. New ' Tork, and Augttsta Bornn, 1660 Nel'sion avenue, Bronx. PAllodlom ProdartloiM,, loe., New Tork; theatrical business. Same directors as previous one. Konch Amasemcntfl, lac, Castle Creek; .public amusement enterprises*; ct^pltal stock, $30,000. Helen R. tVoodru(f.>. Wiridsor; E. J. Splvey and M. C. Oavjn. both of Castle Creek. Nn^tar ProdnctloBB, Inc., New Tork; promote-. -a taste for music, literature, etc.: j cafjttal stock, $10,000. Bertha Wolfniari, .Philip F.' Halle and .Sevmour Goldberg, all 'of 162 West 4?nd street, N.ew*Tr©rkv . ;AgalB uoeri. Inc., Manhatttn: operate thetitres, etc.; . capital . stock, £00 nhares,no', par value.' Arthur J. Boclcar, Lillian, Schorr and Mildred Cunningham, ail of 1270 Sfith avenue, Neiv York. MERGER Ileant Mairailoes, Inc., to mergp International Magazine Co., Inc., and International Publications, Inc. Internatlniiial Pnbllcntlons, Inc., to mergre Field Publications, Inc., The Stuyveaant company. Internaflonfll Magazine Co., to merger -HarporTB Bazaar, Inc. Haley In Roach Fuiiriy Hollywood, .Tan. 14. .Jack Haley will be featured by Hal Roach in a comedy, 'Once Over.' Twentieth-Fox agreed to loanout. (Continued from page 4) tlon of his first hig 'dream.' He vlsionedl himself managei' 6f his o'wn theatre and conceived the Idea of building a bigger house than the Capitol, with stock subscriptions from his many radio . followers to supply the funds. Roxy started to build the huge Roxy at 60th street -.and Se-venth avenue with the stock subscriptions, but was unable to complete the project without assistance, land Fox Films stepped in. This was later to deprive Roxy of control of the theatre,' but tn the meanwhile the Roxy opened, and it was. the last word in amusement palaces up to then. He called, it the 'Cathedral of the MO'^ tlon picture.' It was here that Roxy showed what he was caj>able of with money to spend and room to oper-* ate. in. His presentations were the most lavish ever attempted and. his grosses were the. biggest on record. With Fox's 'Cock-Eyed World,' the house hit the all time high week's jeroBS of 1167,000 and nearly a hal)C a milllbn dollars In four weeks. Ais pja.rt of the stage show Mt> that plctiir^, * R9xy put BoldlerB 'on a treadthlU behind the screen and dissolved this scene. Into the main title Roxy .claimed for years after that the stage presentation, nbt the picture, was responsible for the business. Music Hall Idea Born Roxy conceived the idea of a huge music hall, bigger than ^be Roxy theatre, back In 1928. He said he thought about It while standing on the deck of a boat going to Europe. He Interested William Fox . In the idea and Fox bought up Iei laige parcel of land In back of the Roxy. But Fox' turned his buy into a parking, lot instead' anid Rdxy then went after the Rockefellers. Through M. H. Aylesworth, then president of NBC, Roxy presented his dream to David Sarnoff ahd Owen D. Young bf the Radio Corp. of America, and with 'these men. he sold ,the. idea and himself to the Rockefellers. . The Rockefellers' had been Interested Ih erecting a hew ' opera auditorium tq replace the bid Metro polltan Opera House, along with a, large civic center, and had bought up 12 acres of property from 48th t<> 6pth streets between Fifth and sixth avenues. A . deal was arranged among; NBC, RKO, RCA-and the Rockefeller Interests, with Roxy engaged to supervise the' construction and handlis the operation of the two Radio City theatres, one of which was to be named in hls bonor and the other the Radio City Music Hall. Music Hall opened Dec. 27, 1932, and the Roxy theatre (now the Center) two nights later. One has 6,260 seats; the.Jloxy (Center) 3,700. Together they cost $12,000,000 and together or alone they were psyslcally superior to any theatres in the world. The pre-opening costs were $900,000, exclusive of construction, and the Music Hall alone was glared at a weekly overhead of $120,000, much of which went Into the stage show. In a short 'nrhlle the nut was cut in half with the Hall changing to a grind and adding pictures after the opening variety policy had failed. But the shows at the Music Hall continued to be more lavish than those of all other presentation theatres, under the Roxy influence, and that influence and the stage show style he set still prevail at the Music Hall. 1,000 Manpower The Music Hall opened with a back and front personnel of . 1,000. In a week the number was cut to 700^ There were 80 stage hands behind the scenes and 74 musicians in the pit. There were two lines of 48 girls each and, In all, 400 people on the stage. The public was dazzled by humbera, space and color, but they didn't see everything. Over the theatre were the living quarters of the managing director — Roxy — furnished and equipped, exclusive of construction costs, for $250,000. There was a dining room staff of a headwalter, two waiters, one cook and one pastry chef, prepared to spread a meal for 30 people if necessary. Among the furnishings were three .solid sliver table services, all marked with an R, each service being for a different meal— breakfast, etc. — and the kitchen pots and pans bill was $2,^00. Besides the dining room, which was 19 feet high, there ' were two bedrooms. Roxy designed it all himself. After leaving Radio City a.<t Its theatre director, Roxy continued his weekly broadcasts with his 'Gangf from the theatre, and then with hi* troupe he went on a tour of the Para* mount picture theatres at $1(^,000 a . week for the show. Following that trip. , his first experience as a stage player outside of appearances in ths orchestra pit of his own theatre or at -benefits, Roxy returned to theatre operation under a deal with -Warner Bros, and re-opened the large Mast* baum in Philadelphia. That never got goliig in the old Roxy style* Roxy's last major effort was a com* mercial program with his 'Gang* In behalf of Fletcher's Castorlia. on the CBS network for 26 weeks last year. Shortly prior to his death he had drawn plans for a new program to be called 'Roxy's Professional Hour/ and deals for its sponsorsnlp were under •way. His personal attorney, Saniuel Spring, stated Monday that a aeal had been on also for Roxy to return to the original Roxy theatre as managing director. In all his years as a theatre operator and showman. Roxy was alway* a creator and seldom if ever a imitator. His policy was copied all over, but never with the success that . lioxy; himself met, because Roxy's policies required heavy ex* pendi.tures,' and few others had the inpney. Roxy; pioneered with class entertainment in the pop priced picture theatre 'field. He gave them mor# people for 76c. than -they'd ever seen before. He gave them mor* color than'.^they'd ever seen at asxy price. ^ He was the first fo Ktiit 100 musicians In a picture house orchestra pit, and the first to put white gloves on his ushers. He was a practical Idealist In front of the house as well as backstage, and th*. military 'Roxy service' became famous all over the world. He trained his staffs to be polite and alert and say 'Thank you.' He became an expert In stage lighting,: In ecenery cbnbtructloni in staging. In' program building and eviin In music, H* created the de luxe theatre and the air' of eleffEint luxury. He,. Was tha No.. 1 exhibitor of the woirld and. without -a close , competitor. ' lF»w l*erson)|titijM Although he produced stage shows for years, Ro^ developied few stag* personalities, .perhaps ' because hd specialized in mass effects rather than Indlvldufal talent . Most of him 'dlscpveries' were In the. classical fi^ld of music,, alnglng^ dahcliig, or staging..' They ' Included Emb Rapee^ Patricia Bowman, Jan Peerce,' Viola Phllo, Leon Leonldoff and Clark Robinson. While ^hO' handled and spent mil* lions, it Is doubtful whether Roxy ever pefSonall^' reached the statu* of millionaire at any time. He was a high salaried man (he drew $2,600 ,a week at Radio City) but he never gained complete financial . control over the theatres he operated for others. . Roxy's first serious lUness oc* ciirred Just prior to the opening of Radio City under the strain of getting the project under way. He attended the opening, with' a nbrse at his side, and shortly after tlie open* ing had to go away for his health. A year ago, following a heart attack, his physician warned him against continuing his work, but Roxy replied: 'I would rather die with my boots on.' He was an ardent .golfer and the weekend before his death he played a strenuous 18 holes. Surviving S. L. Rothafel are his w^idow, a son, Arthur, and a daughter, Mrs. . George Bljur. The spn was formerly connected with a studio on ihd Coast and is now in the advertising business. Funeral .services will be held today (Wednesday) at 11 a, m. attha Central, .iSynagogue, Lexington avenue and 55th Street, with burial In Linden Hills .cemetery, Brooklyn. LoewU $1311,396 Net For the quarter ended Nov. 21 last^ Loew*s."Inc;, shows a net profit Of tl,8il.396, which is equal to $13.25 a share on the preferred and $1.08 a share on the common stock of the company. This earning compares with $.2,001,308 for the corresponding 12 weeks in 1934, or $14.64 on the preferred and $1.23 on the common. BEFUBLIC'S QUINTET ITollj'Wood, Jan. 14, Five features will be put Into production at Republic by Jan. 23. They avo 'C:-Mcn of the 90's,' 'Houfe of n T'lousand Candles,' 'Red fii •'.•.Iloy,' 'Lauglilng Irish Eyes' aiul 'Tiger Valley.'"