Variety (Mar 1936)

24 VARIETY PICT E S Wednesday, March 25, 1936 Stock Market (Continued from page 6)>. new preferred, which will be Issued when the recapitalization plan is ■approved early next month, and the large number of Radio B stock- holders who have deposited their stock, provided the stimulus for this ; drive. The Radio B certificates were traded in on the N. Y. stock ex- change for the first time Saturday (21), original selling price being ■ 97%. Activity picked up on. Monday, with the quotation moving to 98. Since each Radio B preferred stockholder will, receive one, and one-fifth shares of the new pre- ferred, these early certificate quota- tions were considered unusually, high when compared with prices being quoted for RadlaJB stock. Un- doubtedly a desire to adjust this price disparity prompted some of the Radio B buying. Traders saw in the increasingly large number of Radio B shares turned in for deposit, definite signs that the Joseph Kennedy recapitalization set-up would be approved. Pathe's New Peak Only other amusement stock to register a new 1936 peak was Pathe common which pushed ahead nearly 2 points: to 10. After its sharp, up- turn .on Saturday, which put the issue up to- new s.1936 : highs, the stock was taken in hand early Mon- day, With nearly as many shares, changing hands as during, the previous four and a- half trading sessions, Pathe again shot ahead to .finish at highest quotation. As damaging flood waters receded In many sections of the' country, industrial stocks also revived in Monday's trading. Result was that the Dow-Jones' industrial averages tyere able to show ah advance .of 4.37 points for the week at the clos- ing'quote, as measured by the aver- ages, "at, 16V.62. Other groups . similarly came back with renewed vigor, even the rails, jwhich had ;been sold because of damage ■Wrought by high waters, managed * to sport a neat gain. Several leading, amusement issues were pushed back on the flood hews. ..This overclouded encouraging hews of box office returns and, favorable financial, statements. In the face of reports that' - picture houses were closed and in some instances dam- aged by high water in several" kfey cities, these stocks held well. Although new highs were the ex- ception, substantial gains were shown by Paramount 1st pfd., Co- lumbia Pictures (on curb). Radio common, and Warner Bros, common and preferred, Westinghbuse and General Electric as well as the new trail blazers, Pathe and Radio B. Par Continue* Strong Strength in Paramount issues conV tinued, with the first preferred in . the van. This stock, hit 76%, nearly 4 points'higher than close, of pre- ceding week. The common got. up to 10% and. the second preferred '.to.11. RKO recovered in sympathy with the Radio Issues. Radio common felt the optimistic attitude towards Radio B. It climbed to 13%, after being churned in vast volume oh Thursday and Friday. The stock was one of 12 most active ones on the big board last week. It wound us near its highest mark for the week and a net gain, of 1%. "Warner Bros, also was unusually active and remarkably strong. It showed a gain'of 1% points at one juncture and was up more than a point at the closing quotation of 12%. Universal preferred and com- mon failed to.get up any additional steam over the Rogers-Standard buy, traders apparently desiring to wait until. Standard x*evealed what new recapitalization plans it had in mind for. preferred and common stockholders. The preferred, slipped back to 87 '% in Monday's transac- tions but rallied later to 89. It was down 2 points at: this level. Both Columbia Pictures ctfs, and the preferred displayed little. rally- ing- power. The certificates . re- treated to a new low .at 36% while the preference issue hoVered about the recently established low at 47; Eastman Kodak common put on a ■ nicely sustained advance that carried it forward nearly four points after an excellent earnings state- ment for past year was released.. Much of this advance was wiped out in subsequent dealings. Com- pany's earnings report showed a net profit equal to $6.90 per common Share against $6.28 In 1934, after covering the $6 annual divvy re- quirements on the preferred. The company's net for the year ending Dec. 28, 1935, totalled $15,913,261 against $14,603,247 in the preceding year or approximately a million and a half greater. Eastman Kodak pays $5 annually on the common 1 at present plus cash "extras which run about $1 per. year. Keith-Albee-Orpheum and B. P. Keith earnings statements issued last week while .excellent. furnished no element of surprise since- they Were about as anticipated In the street. Keith bonds and Keith pre- ferred held about even on the news. Keith. Memorial Theatre Corp. and subsidiaries reported a net loss of $108,100 against $149,391 loss In the preceding year.' Marcus Loew The- atres declared $L75 per share divvy on 7% preferred stock on account of accumulations. It is payable March 31. Company now is $43.75 in arrears in dividends on this stock. Warner Bros; 6s, Paramount's 6s and General Theatre Equipment bonds led the way on the bond list. Warner Bros. Hens climbed 2% points to 96 while Paramount Pic- tures bonds wound up the week at 91%, an advance of a - point. Para- mount-Broadway 3s, though inac- tive, sported a gain of nearly a point at 67%. General Theatre obligations held close- to recently established high on the news that the reorganiza- tion plan soon Would be in full force. After last-minute.weakness, these'bonds came back to ''29%' for an advance, of one point over the previous • week's close. Loew 6s dropped an eighth to a new low at i02%: ■Further irregularity Is expected by some traders as the stock mar- ket marks time until full appraisal can be made Of the extent of .prop- erty damage caused by sweeping floods. ' Indicative of the way in which high waters have hit eastern industrial centers was the abrupt drop in the steel operating rate es- timated for current week. GTE Reorg Plan in Vim Advance Production Chart Summary for week ending Monday, March 23: General Theatres Equipment re- organization plan was declared, op- erative the latter part of last week by the reorg committee' headed by A; W. Loasby. This was effected after Chase National Bank had agreed to waive its original condi- tion that substantially all claims and debentures be deposited with the committee. Such a step was essential because deposits amount to about 88% . of all allowed claims to be adjusted un- der the plan. afTH-FOX'S NET PROFIT FOR 15, -1030- STOCK EXCHANGE Issue and rate. American Seat..' Col. P. vtc. (l)t Col. - Plcta. pfd. (2 ...... Consol. Film Consbl. Film pfd. (%)*.. . Eastman Kodak <5)J . Do, pfd. (0) Gen. Elec, (1) Keith pfd. (1 Loew (2)|... Do; pfd. (0%) Madlspn Sq. Garden (00c.). Paramount »...' Do. 1st pfd Do. 2d. pfd. Pathe' Radio Corp,......;... Radio pfd. A Radio pfd. B.............. Radio pfd. B. ......... RKO 20th Cent.-Fox. ;.. -.Do. pfd. (1%)............ Universal. pfd ......... Warner Bros.'.- Do. pfd.. . „ Westlnghouse (3) Do. pCd. (3%) Net profit of $3,563,087 was shown by 20th Century- for year ended Dec.. 28, 1935, according to annual statement. This is an in- crease of $2,290,018 as compared with the previous 12 months when the company reported, only $1,273,- 069 net for 1934. Profit amounts to $1.24per com- mon share outstanding -after pro- viding $2.62 on all preferred shares. Company has 1,359,041 shares of cumulative convertible preferred stock outstanding on which it is currently paying $1.50 annual divi- dend, and 1,226,530 shares of common. No earnings from , the National Theatres - Corp, In which 20th~Fox holds 42% interest are included in company's net profit statement. This interest would give 20th-Fox an additional $920,721 as figured from the National Theatres net earnings of $2,192,194, upping the earnings per preferred share to $3.30 and on common to $1.99. Company's gross revenues for the 62-week period amounted to $43,- 942,678 as against $37,546,586 in previous, year. For the 13 weeks ending ort Dec. 28, the operating profit, after federal income tax, v as $1,566,763 compared with a loss of $233,143 for the last quarter In 1934. The net worth of the corporation as shoWn by its consolidated, balance sheet on Dec. 28 was $43,- 679,123, Including a earned surplus accumulated since April 1, 1933 of $6,096,947. The consolidated, balance sheet shows current assets of $26,644,572, including $7,116,003} receivables, $1,840,968; inventories, $16,701,643 against current liabilities of $6,260,- 522. Of current. liabilities, an out- standing' item is $1,6*6,600 in five- year 6% debentures that mature on April 1 this year. Investments and advances to affiliated companies stand at $16,- 721,446. • New 1030 high, t PIu» stock dividends. t Paid this year. I Plus cash extras. 1 New 1030 low. 36 30 Columbia Plots. 37U 17% 0,300 Technicolor 30<A 3% 4,500 Translux (15 4% 4%^ 100 Universal 10% 30% 10 $114,000 Geh. Thea. Eq " 30 28'i 80% 1>2% 8.000 Keith 0s, '40 05 04% 104% 102 0.000 Loew Ca, '41 :. .....102% 1101!'/, 60 50 1,000 Pnr-Brondway 3.M, "55 37% 57 07% R«% 170.000 Paramount fls; '55 01% % 82% 75% 17,000 RKO debs Os 75% 75% 08% 80 103,000 Warner Bros. '30..... 00 03% OVER THE COUNTER, NEW YORK Bid. Asked. 51% 62% Col. Broadcast A (2) «8 .100 Pathe Films pfd .. t Plus stock dividends. t Paid this year. % New 1036 low. +1% - % - % + % H0ENE CAMPAIGNING Hollywood, March 24. Hal Home planed in from New Yofk to go. into huddle with Walter Wanger on advertising and exploita- tion on four pictures to be released during next two months. Quartet are 'Moon is Our Home,' 'Big Brown Eyes,' 'Fatal Lady' and 'Palm Springs.' NORTON LN MEXICO Mexico City, March 24. Barry Norton is here to play leads in two pics a Mexican company is to make. Engagements Will occupy him. from three to four weeks, after which he will return to Hollywood. Fight Md. 10% Rap Baltimore, March 24. With what constitutes the largest assembly of Maryland showmen in anyone's memory, 150 congregated and swept down to Annapolis last week to stage a somewhat belated fight against the bill up before cur- rently convening legislature which proposes to levy a straight 10% tax on all amusement admissions. Bill had been up for a week before they got together. Mostly exhibs, with Leonard McLaughlin, operator of the two indie legits. Auditorium and Maryland, and Harry Henkel, manager of the UBO Ford's, along to represent the legit field, and Ed Hunt, from the musical union* (Continued from page 22) Humphrey Bogart, Frank McHughi "Addison Richards, Joseph Klne Joseph Crehan, Frank Bruno, Loulse.Beavers, Richard Purcell, ' Story is anti-crime yarn depicting dramatic symposium of the new rackets that have sprung up in metropolitan cities since repeal. Bulk of material used is based, on authentic facts collected by Martin Moonev in his racket expose which rah serially in the N. Y. American for which writer was sentenced to 30 days for contempt of court in refusing to reveal source of his information. Robinson plays the strong armed eon who stages a one-man fight against the higher polished gangsters and succeeds in busting up the flow of easy money. 'CASE OF THE VELVET CLAWS.' Produced by Bryan Foy, William Clemens directing, adapted from Erie Stanley Gardner's novel by Tom Reed, Cast: Warren William, Claire Dodd, Winifred Shaw, Dick Foran Alma Lloyd, Eddie Acort, OHn Howland, Dick Purcell, Paula Stone; Story Is fourth of series of detective mysteries by Gardner in Libertv mag prior ta novellzation. Warren William is the lawyer brought in to solve an unusual Will. Circumstances Jead to the proverbial whodunit finger pointed at everyone in the household of the victim. ' 'LOVE BEGINS AT TWENTY.' Produced by Bryan Foy, directed bv Frank McDonald, from Martin Flavin play of same name, adapted bv Tom Reed and Daltpn Trumbo. Cast: Patricia Ellis, Warren Hull, Hugh Herbert, Hobart Cavanaugh.; Story centers around Hugh Herbert, absent-minded, henpecked hus- band who works in broom factory of small town. Is father of Patricia Ellis, who falls In love with Warren Hull, the town's leading business man, Herbert, sent to bank to make deposit of securities, when bank is being stuck up and he is relieved of securities. Herbert proceeds to get drunk and turns tough. With another old crony both go to : the lodge meeting, where two bandits seek to. evade detectives on their trail; ban- dits slip, securities into Herbert's pocket. Still under the Influence Herbert finds himself incarcerated with the. two bandits and he proceeds to demonstrate his physical prowess. Herbert .is finally acquitted'and later threatens to sue for false arrest if not taken in as partner. All ends well. > Stories in preparation definitely set for production: 'CHARGE OF THE LIGHT BRIGADE,' to. star Errol Flynn with Olivia deHaviland; 'CAtN AND MABEL,' H. C. Witwer story for Marion Davies; 'INVITATION TO A. MURDER,' with Marguerite Churchill and Gale Soridergaard; 'NO- WHERE/ with Ross Alexander and Beverly Roberts; 'THE WAY OF A PIRATE,' with Guy Kibbee and Sybil Jason; 'CHINA CLIPPER,' 'OVER THE WALL,' 'SO YOU WON'T TALK,' 'GREEN LIGHT' and 'SCHOOL- HOUSE IN THE FOOTHILLS.' Incorporations NEW YORK STATE Albany. eyday Corp.,. Manhattan; general theatrical- and motion picture business; capital stock; 100 Bhares, no par value. Incorporators: E. K. Nadel. 67 West 46th street, New York; Harry Crawford, Mohegan Lake, Westchester county; Nat Sv Jerome, 1270 Sixth avenue, New Tork City. Lido Boat Corp., New Tork; theatrical businessv capital stock, 200 shares, no par value. Incorporators: Harry B. Kurzrok, Mortimer Bernstein, Joseph Berger, 60 Wall street, New Tork City. Ken-Whip Corp., .Manhattan;' indoor and 'outdoor amusement enterprises; capital stock, 200 shares, no par value. Incorporators: Harry B. Kurzrok, Mortimer Bernstein, Joseph Berger, 60 Wall street. New York City. The National Rodeo, Inc., Manhattan; to carry on, cpnduot and promote amuse- mont enterprizes of all kinds; capital stock, 200 shares, $100 par. Incorpora- tors: Carlton. Z. Solomon, Abraham Sperber, . J, Sidney Bernstein. 250 West 67th street, New Tork Cityr H. XV. E., Inc., New York; general, theatrical and. motion' picture business; capital stock, 200 shares, no par value. Incorporators A. Michael Katz, ' Elsie Fischer, Philip Kaplan, 342 Madison, ave- nue, New York City. Frle-Blch Amusement Co., Inc., lngs: theatrical business; capital stock, 300 shares, ' no par value. Incorporators: Meyer Creiman, Paterson, N. J.; Wil- liam Rosenberg, 1901 Hennessey place, New York City; Morris Schwartz, 1880 Billlngsley terrace, New York City. . Chelsea Pictures Corp., New York; mo- tion picture business; capital stock, 100 shares, no par value. Incorporators: Tina Schwartz, 1450 Broadway, New York City; Joseph Green, 60S West 140th street, New York City; Godfrey Julian Jafle, 1450 Broadway, New York City. Seaboard Sporting Club, Inc., Bronx; to employ actors, boxers, wrestlers, etc; capital stock, 100 shares no par value. Incorporators: Sidney Abranis, 1240 Sherman avenue. Bronx; Gus Ruckert, 3034 Bronx Park, East, Bronx; Beatrice Geschwlnd, 1937 Clinton avenue, Bronx. American Tob's Corp., New York; gen- eral motion picture and theatrical busi- ness; capital stock, 100 shares, no par value. Incorporators: Johannes Pleter Van . Tlenhoven, Hans Henkel, 10 Museumpletn, Amsterdam, Holland; Mil- ton Diamond 113 West 67th street, New York City. Sho-Window Inc., Manhattan; the- atrical business; capital stock, 200 shares, no par value. Incorporators: Gus* Ed- wards, Sam Levey, 1683 Broadway, New York City; Charles Katz, 511 Fifth ave* nue. New York City. Clneroma Corp., Manhattan: motion picture theatres, etc.; capital stock, 200 shares, no par value, incorporators: Elizabeth Wood, Herman S. Rosenblatt, Marjorle L. Sopera, 630 Fifth avenue, New York City. , Statement and Designati Theatre League, Inc., 19-21 Dover. Green, Dover, Del. j theatrical business; New York o ce,. 310. East 44th street, New York City; Catherine M. Newmarch, secretary -and 'treasurer; capital stock, 1,000. shares preferred, $100 par value; 10,000 shares commort • stock, no par value. CALIFORNIA „ _ . . , „ Sacramento. Gus Deinbling, Inc.; capital stock, 100 shares, none subscribed. Directors: Gus Dembllng, Sylvia Blank, Evelyn Fitz- gerald, all of Los Angeles. •Certificate changing name of AI Kingston, Inc., to A] Kingston-Walter Myers, Ine. MISSOURI _ . . . Jefferson City. Robertson Amusement, Inc.; ion shares. Incorporators: R. R. Glasgow, University City; David J. Massa,. Victor J. Massa, Normandy. TEXAS v.T ,mes P'OftdcnsHng Co., WIcMt^Falls; broadcasting; capital stock, J6.000. In- so 0 n PO Bt t0 D rB . : Do^. " M J ' »' A1 »- A S* Brondcoiitlng Company, San »Rft nSi ' T broad ostinB; capital stock, veit, w. M. Mcintosh, Emlle J. CJougU. KAO'35 NET, $403,073; KEITH CORP.'S $464,644 Annual statement of Keltb^Albee* Orpheum Corp. and subsidiary com- panies covering year, ended Dec. S, 1936, shows net profit of $403,073, m previously estimated by ofnclale. Report showed that theatre adihln* eions, supplying bulk^ of revenue, rose to $12,998,229. Rentals and other Income totalled $1,602,831. Trend away from vaudeville was revealed in expense statement which showed that only $826,250 went for artists' salaries ' whereas Aim service and - other production expense totalled $3,424,023. The net was considered excellent in. view of $116,316 loss in preceding year. B. F. Keith arid subsidiaries' net. profit of $464,644.94, after charges and federal, tax, as reported to stockholders last week, for the year endi.ier on Dec. 31, 1935, was equal to $1.16 per share on 400,000 shares of capital stock. This compares with a net loss of $136,035 in 1934. Company statement showed that only $730,547 was paid for artists'" salaries while $2,291,190 went for film rentals and production ex- penses. Carewe's Stock Issue Washington, March 24. Permission to unload preferred stock to the public and dispose of common stock to insiders was sought from the Federal Securities & Exchange Commission last week by Bdwin 'Carewe Productions, Inc., of Los Angeles. Company, which has received ap- proval from California authorities, proposes to put 40,000 preferred shares on the market at $25 and to sell to officers and directors .40,000 common at 26c each, on a basis of one share of common for each share of preferred. Another block of 40,- 000 common will be held In the cor- poration treasury for use in raising funds to redeem the preferred at some later period. S, H. Woodruff of Los Angeles is listed as corporation, prez. Chi Ops/ 10% Tilt Chicago, March 24. While the new operators-exhi Uors contract has been postponed until September, it is reported that the new papers will call for a 10% i n " crease In scale for the projection- ists. This represents the fust In- crease in three years. In the future, the operators con- tracts will expire in September in- stead of January. Par Puffers On Move Hollywood, March 24. Gabe Torke has switched around his femme publicists at Paramount* Gretchen Messer handles fashions for syndicates; Lois Weiss moves up as personals editor; Kathleen Coghlan will be fan mag contact. Ella Boros will sec for 'feet CarW and Joe Shea.