Variety (Jun 1936)

Wednesday, Jiuie 10, 1936 l» I C ¥ IE S VARIETY 19, Amusements Best Performers on the I Bdanl with Substantial Group Gain , By MIKE WEAR ).VU.musement list ' did better than irest stock , market last 'week, although dwindling Interest ffiia e:cempUlled by dimlnlehlng . volume In many Issues. !lVIai*ket held ground generally on Tuesday and ^^Bilnesday o( last week only to re- treat for two successive days or uri- ^ usual Saturday short-covering . jaye ft aehxbiancfe of a rally. Adjuet- . nient of strike difficulties In France' ' '^ded flentlmerit Monday (8), with ^lUm^rovs issues recovering much of lost ground. . ' ■ ^ 'Amusement Group showed a suh- •fitaiitlttl'gain on the week, closing ^ at slightly below 42%, as measured by t^i® averages for 12 representa- tive stocks for a net. advance of of a point. Marked strength in several individual issues enabled the group td climb to 42% as a pea« .as measured. by the averages, or nearly a point above the preceding week's top. Low mark wag 41%, which was higher than the lowest ^olnt In the previous week. Volume again was' iQaterially below the JOO.OOO-share level. fLB was true with the market as a whole, there were . particularly fltroAg features of the amusement . Ust as well aa some obviously weak alsteys. Twentieth Centvry-Fo-s Is- .flUe?, Columbia. Picture stocks and ,.RadI(^ B. pushed forward with ccin- ;0lderable show of strength while ^'q^Yf c6mm{»h and Fairamount iq- :.: ]|iniea .werQ outstanding among the V.;ftt),t;kward stocks. %^v,:, Bullith 20th-Fox ;^V>VSi(illish attitude towards 20th-Fox ^mmon culminated In shai'p rallies Iwth Saturday-and Monday (8), with peak' recorded on latter day at 28. 'Uhe. stock closed at, 27% for a gain of 4Mt points on the week. The pre- lerred hit 36%, up 2%. ■■■i. Common of 20th-Fox came through . 4«iSt of the 23 level, with flying tCOiprs. After hitting .22'V^ oh Mon- jdalbit again sold down to that miark 'Tuesday, with considerable volume iCAi both days. Stock looked pretty well Uduidated on the second day ^t>:BeIlrOfe because after celling iiiTrQund .that ilgure part of Wednes- day (3), It; rallied to 24 on Thursday ^a^d then forged ahead to. 26% on Friday.. Plenty of purchasers -were , uncovered in the decline which «ai7ied the issue below 23. Volume bullded on this climb and continued Increasmg on Saturday when 1,100 . shares changed liahds In the ab- .breylated 2-hour session. , While .not as active or as eher^ ,getlc as 20th-Fox, both Columbia Pictures certificates and the plre- feifred • ga.ve excellent accounts of ,themselves. Certificates climbed 3 'lioints to 36 while the preferred was up' more than a point to 44. Declara- . tloii of the usual quarterly dividend of 2^c mid-week was the signal for the push forward. Divvy Is payable Jfuly 1 .,to stock on record June 18, and is"' applicable' to certificates; listed'^n the N. T. stock exchange . lind to the common, which Is on the : .~<6Urb. Nothing especially significant •about - the preferred stock move, since it has been havering about its Old low mark of 42% for about two ■l^eeks now. 'On the other side of the picture. Yesterday's Prices 101) ' 100 cxoo 700 4un 8U0 coo .12,000 2, coo ■ 709 400 2,30!> 000 70U $10,000 »,000 24.000 1-J.OOO . Xet HlBll.IrOW.I^.It.ChcC; Con. Film. 49i vy. A'/i East, K...102'/j 102 102'A +'A 38?i 12>4 Gen. El. Loew Paramount Do 2a pt Pathc .... RCA Do Ut pt 70% nico 5?i 20tli-Jrox... 27%' w. - B ms . . CURB Tech ....... 20U TraiiB-L .. 4',i • BONDS Gen, Th... 20H Locw .... 07'4 Paramount 80^ W. B 38% 7y* 11% 70 514 £7 10 ■ 2ft 4% 25% 07% 88% 03% .i8)» + ',J +1% 8<4+ % 0%+ H 7% - >4 12 4- % 70% B% + % 27 - % 1015 + % 2ft - % . 2,-% 07%— V» 89 • +1 Oi + % the three Paramount stocks looked weakest. The first preferred sold off 3% points on Tuesday (2) and then dipped to a new low at 59 oi^ the following day. Stock was oft 2% on the week at 62%. Pafamount common dipped to 7 94 on Wednes- day, Thursday and Friday, at which point It was only fractionally off its 1936 low. Par second preferred slid to 8% on the same days and it, too, was only an eighth from year's low price. However, it came back to 9 at the finish to close unchanged oh the week. The common was oft frac- tionally, Lioew , common came w;lthln a fraction of eciuallng its old low of 43%. The stock was sold down to 43% on increased volume on T.hurs- day, and. then fell back of its own weight to .43% on the following day; Managed to rally slightly near finish and vas oft 1% for the week. Rjidip B^s New High Radio B, which appeared on the tape only on Tuesday (2), hit a new high for the year at 106, the closing quotation.s- At this level It was up 3% points. The new BCA first pre- ferred, which Is supplanting. the 'B' preference <stock, pushed ahead to a hew peak at 77%. Later in the week It sold ex-dlvldend .of.8.7%c, with the result that it slid off. This Issue was down more than a pplnt at the blow-off. Another excellent performer was Universal preferred, which climbed more than 3 points to .105./ It sold at this price most of the . week. Strength .was partially attributed to the company's newly announced policy of fixing production on a pay- as-you-go basis. . ' Reactionary tendencies -of. Loew and Paramount issuw were held to be partly in keeping with seasonal tendencies and general market's dull tone. . Perhaps most .typical of this trend was the. action of' Westingr house, which, was off more than .7 points at one Juncture, Preferred of same company also was down 2 points. Other amusements'to close lower were American .Seating, Eastman Kodak issues, Keith pfd. (off 1), Madison Square Garden, Consoli- dated Film common, RKO and War- ner Bros. V . After starting the week at i63'.22, the Dow-Jones Industrial averages retreated. steadily on the following three days until the bottom was reached at 148.52 on Friday. Satur- day and Monday rallies carried the averages to 161.39, closing level. Here they showed a loss of 1.45 points for the week. - Although Radio common was the most active stock on the big board last week, the issue wound up trad- ing at 11% for a gain of less than half a point. Warner Bros, com- mon also was one of the 12 most active issues on the N. Y. stock ex- change last week. It held close "to 10 most of the time. In connection with RCA common,' the stock exchange reported that nearly 14,000,000 shares now are listed on the big board and that 800,000 shares of first preferred are on the list Number of Radio B shares has dwindled to around 33,000. There was nothing especially re- markable about the action of Co- lumbia Broadcasting Issues, both the 'A' and 'B' stocks holding largely in a range between 54 and 66 much of time. Bid quotation for these issues has not reached 68 for many weeks, and last week it dropped below 64 at one time. Tech Holds Firm , Technicolor • held firm, with a range of 28% and 29%. This stock has been able to hold close to 28 and 29 In the face of weakness In numerous other sections of the mar- ket General Electric dh-ectors are scheduled to act on dividend this week. Stock pays $1 annually, which represents a yield of 2.7% around current . prices. . Recent strength In the Issue Indicates main- taining . of the present rate, with a cash extra or minor boost as an. out side possibility. Conservative pol- icy of company probably will mean that the current rate, will be undls: turbed for the present. .Aside from a decline In RKO de- bentures, the majority of f^muse ment bonds closed higher.: RKO Hens were off:t,% to 63% or .within half a point of the 1936. Ipw. . Long anticipated advance of Gen' eral Theatre. Kqtulpment. obllgaUons seemed fairly .well under way as the week .termlnatecl. The bonds .rallied 1% points to 2p%,. after being dowit to 23% .in earlier transaqtlons. Cer- tificates .for the same finished week at 26%, up 1%. Most activity Was in the latter,, actual cash Involved maiking them the most traded li) bonds of the list Loew ■ 6s and' Paramount' iSs wiere up fractionally while 'Pa:ramount Broadway 3s "were off heirly a point at 68%. ■ , -• Warner Bros. 6s were up more than a point at one time. They closed the week' at 93%, an advance Of 75c. . Summary for week ending Monday, June 8: STOCK. EXCHANGE Salen. Issue and rate, •1,800 American S'eat 4,600 Col. P. vtc. (I)*..... l.fiOO Cdl. Plct. pfd. (2%),,...-. 1,500 Consol. Film aOO Consol. Film pfd. (04)f.*.. 1,100 Eastman Kodak (5)t.....>. 10 Dd. pfd 31,000 Gen. Qlec. (1). GO Keith pfd. (8Vc) 0,000 Loew (2)t.... 100 Madison Sq. Garden (00c.). . 8.800' Poramount 4,1(00 Do. ist pfd.... 3,200 Do. 2d pfd 6,100 Pathe . > ■.• 140,000 ' Radio Corp... 800 Badlo pfd. A (SVS)......... 200 Radio pfd. B l.-(,200 Radio 1st pfd. (3Vi); : ■7,100 RICO 8,300 20th Cent.-Fox 4;.400 Do. pfd. (H4) ■ 180 Universal pfd ". • llf.SOO Warner Bros .31,800 Westlnehouse (.1) 100 Do. pfd. (S',i)..- . 30 . 44% ■ 5 . 17 . 10314 . 1(14 . 38'/i . 01 . 4.-)',4 . 12 . 8% . ca% . 0 . •7'4 . 12% . 66% . 177% (I . 28 . ».'.% . 106 . 10% ,. 110% . 13C Low. 21 .12% ■ 42% 4% 10%, 101 104 87% OOVz 43% 12 7% 85!> 8% 7 11% . 65% 104% 74% 6'.4 22% 33 101% .0% 109 154 Last. 21% 30 44 4% ■ 10% 1C2 104 88% •JO'/j ■ 44% 12 8 02% !» 7% 11% 05% 105 70% 6% 27% .35% 104% 0% 112 134 Net che. - % +3 +1% - % + % - % —1 + % —1 -1% - >,(. - % -2% + .% ■ +.}% -1% - »4 44% 4-2% +3% - % _4% 'Plus stock dividend, Pnid this year. ' Pluii cash extTAS, New lDS(t hlglu Kfrw 103(7 low. CURB .•■•6% ; •««%■ '••■07% • •61% '•07% •82% ..08% .»ld. : 17% 2,100 Technicolor 3,000 TranslUK (20c.)*. BONDS 19 $41,000 Gen. Thca. I2<J. '40 10 11)0,000 Gen. Theu. Eq. '40 ctfs.. »2% 14,000 Keith 0-8, '40... 0tt% • 40,000 I,oew 8%s, '40. OT' 10,000 Par-Brondway in, '05.... as 112,000 P.iramount Cs, '05 '03 1,000 RKO debs Os BO 80,000 Warner Bros. Os, '30 2!)% 4".4 2.%% 25% 08% 07% m.'t, 83 o;;% 01% 28% 23% 02% or 68% 85 • 0:-.% 9-% 2n% 4% 26% 2,-»% 82% 1*7% 68% 88 OK'.t «3v-i +1"5 +1% ^ % + - % + lU —V.'t + % Asked. 60 104 OVER THE COUNTER, NEW YORK Col. Broadcast. (2).. Pothe P. pfd. (7) * P«ld thla year Incorporations , N^W YORK Braswill Amnsenieiit Corp.^"K"nijs: theatrical business; capital stock, 100 shares, 10 par value. Incorporatom: David Newman, COO West 176th street. S?^. X*""'' S^^^y- DoriBtliy Shapiro. II West 42nd street. New TorU City; Fanny Welnblatt, 200 Bast 16th Btreet, New York; City. Brown, Hope- * C«.. -fDcorpoTated. Manhattan; operate theatres. etc.; rapltol stock, 30 sfiares. no par value. Incorporators: Adele B. Hone. Lone Beach, Calif.; Richard Mayleas. 217 Ma.inolla avenue. Mt. . Vernon. N. T;.' L. Chamberlain. Brftwn, 145 West 46th street. New Tork City. Rrnnox, Inc., Manhattan; theatrical business: caoltal stock, 100 shares, $10 nar value. Incorporators: Freda. Jaret. Bertha Reich. Vera Poggl, all of 16 Court street, Brooklyn. Botochrome PIctares Corp., New Tork: securities, motion pictures, etc.; capital stock, 100 shares, ■ no par value. • Irtcor- norators: M. Ert-ol Mapes, Mt.. Vernon. N. T.; Frank M. Sanders. Jr.. 424 Rast 52nd street. New York City; Thomns Van Alstyne, 17 East 89th street. New Tork City. Greenwich Gnild. Inc., Manhattan: theatrical and musical productions; capital stock, .200 shares, no par value. Incorporators: Dorothy J. Lebhar. Sylvfa Lev'lne, Pauline StelsUt?:. all of 621 Fifth avenue. New Tork City. Pinnacle Amnsenient Inc.. MIneola: theatrical performances, etc.: capital stock, 105 shares, no- par value. Incor- porators: SoteroB D. Cocalls. 270 West ■ISra street.' New York City: .Tullns Gulkis, 1030 Park place. Brooklyn, N. T.: S.f-Ivln Whitman,- 1717 CCtU street. Broolclyn, N. T. ' Branrose. Inc., .Manhattan: theatrlcnl business: canlt'al stock, 100 shpres. tlO r-ar vnlre. Inrorpor.ators: Freda'.Taret. Bertha Reich. Vei'a^ Po^gi, all of IC Court street, Brooklyn. N. T. H. D. T. bperatlni; Co.. Inrornnratcii, New Tork; operate exhibition grounds, etc.; capital stock. 100 sharesi no .nnr value. Incorporators: Max' Prex'flner. 1472 Broadway. New Tork rity;' Marli> O. Garrahan. 7S-''0 Austin street. Vnreft. Hills, T.I, I,: Leo Tannebaum, 1472 Broad- Wny. New Tork City. .. Tlira Islandii Amnsemrnls, Inc.. MIneola. L. I.: theatrical buelne.xs; canttal stock. 106 shores, no -par value. Inror- poratorn: Seteros J>. Cocalls, 276 West ^Srrt street. Netr Tork City: .Tullu« Gi'lkls, 1030 Park nince. Brooklyn. N. v.: .Svlvia Whitman. 1717 6Cth utreet. Broolf- Ivn Subscribers: Bvn, Chn'''now, Sr.O Parkslde avenue, Brooklyn. J?. T.; Re- f'nn Mostel, 69 Avenue D. New TorU City. 08tli Street .Flnyliousr Corp.. New Tork: theatrical business; capital stork, 100 nha^en. $100 par value, Tncorpotatnm: Arthur S. Sh.'iplro, M«''*lmer Snprllmr. Ro.se Amnturcl,. all of 476 Fifth avenue. New Tork City. Statement and Designation TntU tc Boacli ISnnply Co.. 209 Wyomlnc avenue. Maplewood. N. .T.: amusement narks, roof (irardens. etc.: New Tork of- Itce. 206 East 42nd street. K«w Tork Clt.v; Harry Bloom, vIce-nresMent: ranltal ato<<i', 260 shares. $100 nar value. Plied by Harry Bloom, Z05 West 4Znd street. New Tork City. Disuiutiona Scarboronich Playcn, Inc. Flleit hv Oregory, StewArt Sc Montgomery, ^iS Broadway, New York City. Inside Stuff-Pictures Hearst-owned Baltimore News-Post last wecit hurled out all publicity copy, art and readers on t'niversal's.'Show Boat.* Pie is curront at down- town indie Keith's, Balto, in its fourth week. During first two stanzas the Hearst wig gave flick usual puhlicity, but suddenly during third week Larry. Schanberge-r, operator of Keith's, noticed paper was not-carrying: any mention of 'Show Boat' save paid ad lineage. Inquiry revealed that W. M. Baskervin, managing editor of sheet, had ordered out all publlcit.v. Schanberger was glveii no reason for the move, and when he asked why the rag accepted his paid advertising, he was told that the editorial and ad offices were two different departments. Ukase came fi-om a high pinnacle within the Hearst organization, if not direct from The Chief's hacienda at San Simeon. Repeated reports riife around here that Hearat and. the outfit new in the saddle at Universal have had a rift of soine aort. Paramount's deal with B. P. Schulberg-Ralph A. Kohn, having been altered in accordance with the board's suggestions, was approved by the company's directorate at'a special meeting "Wednesday (3). Thie original two-year deal for 16 films has been changed to eight films for one year with an option in favor of the concipany giving the latter th© right to cancel a Second eight for the second year. By terms of the deal Schulberg-Kohn will participate 26% In the profits of the pictures. No action was taken by the board at its regular rheetlng in Jersey Clt.v Thursday (4) on the Harold Lloyd deal. Board was expected to ratify the agreement at that meeting, Lloyd is to produce a single for Par. This was set after this meeting, a hitbh having eventuated through Metro also making a bid for the comedian. ~ Iioew's, which has the Paramount product second run in^the Greater. New york area, raised objection to the practice of the Paramount, N<T, in advertising two pictures for the price of one on preview nights: With the circuit claiming this constituted double billing, the N.T. Par has stopped advertising that people can come at a certain hour and see two features. Hsibit has beerf to preview new- pictures the night, before tlie regular change day, with result tliat fans could come lii at around 6 and see the show going out ap well as the picture cOmlng In. The previews will be continued-but they won't be advertised. Major stiidlos sending" camera crews on location are reporting. con« Alderable saving through not being obligated to pick up cover man locally when studio photog has been sent to spot to tnake shots. -This Is outcome p( camera men's closed shop; ■which went Into effect last January. Sav- ings were demonstrated'recently when Saniiiel GoldWyri sent Camerama'n Ray Bigger to N. T, for shot? of the Queen Mary for his 'Dodswdrtli,* and by RTKO "\Vhen siding Boy Hunt to New London, Conn,, to'lense •Coast GUard.' Current campaign.on 'Fury' at the Capitol, N. uses a flock of trade pape-r excerpts from preview reviews; also conBlderable one-line catcb< phrases from the Broadway- columnists, a -recently growing trends for exploitation purposes'.' The Tnetropolltan fllnl' reviewers haVe agaiif'ex:- pressed .thejnselyes peeved ;^t'v^hat they •cohSldel' encroachment' on their terfltory.' The encomiums, If aiiy, are. usually bulled from.the repular reviewers'opinions for. advertising purposes. ' Difficulty in flndlnfr star ahd director has prompted Paramount to put- •Grand National' on slielf. tempomrljy.'' Leo McCariey, on rfelUrnlnjr to studio jCroni Ulness, decided pic ..was too- heavv ,for him to, handle, and with Par unable to work out .tleal-with Radio for l.oan of Katharine. iSepr bum,, only actress-Par execs, can see for part, flecisloo. was reached to let production ride lintil more propitious time. ' Production on 'Lost Horizon'' at Columbia wds iitopped a fiill day by - Producer-director Frank Ckpira' to give Val.$'hte,r N; T. still photographer, opportunity to make portraits and ad . photos jof cast meinbjers. Valenfe Is said, to draw do>iyn $2,500 for. four, weeks' lensing at Cpl„ .'with Studio figuring at this-cost his time .must be consldeired valuable, .hence siisr pension was ordered so he could get In his work.- 'The Great 2Slegfeld,' during^ lis iflrst seven weeks at the Cartht^y Circle, Los _A.ngele3, grossed, $106,300, giving Metro, under the pejfcehtage ar- i-anerement, $05,000 for its share.. ,Pic, currc-ntly In eighth week,'is gpoji for at least another- couple of stanzas. Warners 'Anthony Adverse'' tenta- tively set to follow •'Zlegfeld' alt Carthay, with Fox-West Coast hoping t« maintain $1:50 policy. , . ' Negative shot, in Alaskia. and the Arctic by Norman Dawii for Uljl- versal last year, on an expedition financed by Carl Laemmle, has been acquired by Burroughs-Tarzan, after new owners- pf U went cold on film, on which around $60,000 has been: spent, B-i' plans to shoot Inte- , rlors for picture at Universal. 'Extra, Extra,' first of series of shorts on Hollywood to be niade for Metro by Carey Wilson under direction of Jack Sliertok, will be. based on actual incidents that occurred to Jean Harlow when she'.was an iih- known day player. Although footage has been- Increased from five to seven rfeel« and num* ber of objectionable sequences.eliminated, Harry Revier Irf Still without- a Hays office okay for his 'Penltente Murder Case". Monitors'reported tmable to see film' under lis new titlC; 'The Naked Truth'.. 'Bunker Bean,' recently complotad by RKO and set-for general release June 26, Is based on a story, purchased from Paramount,, which had kept on the shelf for a long time. Sarh (Schlepperman) Hearn says he is riot the indlvlduat of'tho^.^Barno name who used to be with the Kalem company in the early days. White Quickies East Sammy White (ex-Eva Puck and White) came east from Hollyv.'ood in connection with his examination In tho volOntary bankruptcy pro- ceedings he filed about a year ago. Following White's 'Show Boat' (U) film, his first, Zeppo Marx agency has a. number of other deals on for While in Hollywood. LOSES ISAUEB SUIT Los Angeles, June 9. Suit brought, by Wallace Sullivan, spceen trailer writer, against Na- tional Screen Service for alleged unpayment ior. services, was de- cided In favor of defendant. Writer a,Hked $2,375 from com- pany and Harold E. Murphy, Can- celled checkfc were Introduced by defendants to prove that Sullivan iiad been paid In fulU Keeping Up Wl^h jones' ' Hollywood, June % Under new termer «>igned. with 20th-I''ox. Jed Prouty Will do three, 'Jones Family' features yearly o£ .the four picts he Is l6 make. Next o£ the Jones series, a Max , Golden production with James 'Jin- ling directing, starts, June 26.'Rob-' crt Ellis and Heion Logan arc doing ecreen pla.v; 'KINDtlNG^ ON naE < Hollywood, June 9. Carl Z4iempile, Jr., and CharJea Ken.von are huddling on deal for ecrocn rights to latter's </tage, play, 'Kindling,' ! , .Play wa».produced several yearn ago, with Laemmle anxious ttk transfer It to screc.u