Variety (April 1911)

VARtlTY ii LOEW RECAPITALIZED FOR FI VE MILLIONS $1,000 9 000 in Cash to be Held in Reserve. Takes in Old Corporation and Will Include New Ventures Now Projected The "small time" commenced to talk in millions this week, when the Loew Theatrical Enterprises sprung Into existence, with a capital stock of $5,000,000. The new corporation swallows the former Loew Consoli- dated Enterprises, formed about a year ago with a capital of $1,500,000. The five-million-dollar company will dispose of stock to the amount of $3,- 150,000. This will take up the stock of the previous company. Of the re- mainder, which will be placed for sale among standing stockholders and their friends, $1,000,000 will be placed as a surplus or sinking fund, said Mar- cus Loew to a Variety representative, available for such uses as might be found for it. The $1,850,000 of stock held as a treasury reserve could be used, admit- ted Mr. Loew, in payment of theatres or circuits which might be taken Into the new corporation. There are several projects started, Mr. Loew stated, which the new cor- poration will push to completion. Among these are two or more new theatres to be built in New York. The location of the sites were withheld. The officers of the Loew Theatrical Enterprises are the same as of Lowe's Consolidated. Boston, April 19. The Loew Circuit has purchased the Columbia theatre for its "small time" chain. Possession will be taken in about thirty days. Some time ago it was said that D. Lothrop had the Columbia, and that it cost him $172,000. Dr. Lothrop may have wished or thought that he had it, but the Dr. was never quite as close as his friends hoped he was. The nearest he got was a second mort- gage on the property. The Columbia has been a burlesque theatre. The new house going up on the Park Square site, and which will have a seating capacity of 2,500, is keeping people guessing as to the future policy. Again it is said that Loew will have this house also, although It 1b practically out of the question for a "small time" policy to be installed in a theatre located as the Park Square will be. The Park Square was ac- quired by Loew through the Morris Circuit. With the Orpheum now operated by Loew, there are many rumors to the effect that eventually he will have a big time theatre here, giving Keith the only opposition in sight, unless the Shuberts land somewhere for a Winter Garden. The Shuberts, of course, could turn any house they might secure into a "Winter Garden," by changing the sign over the door. From reports a Shubert Winter Gar- den does not have to have an enor- mous capacity; only a lot of people who don't mind spending $2. A new corporation was formed last week, called the Columbia Amusement Co., with a capitalization of $100,- 000. Its officers are Victor J. Morris, Irving Hamilton and Charles Frank. Mr. Morris is manager of Loew's Or- pheum. The corporation papers were filed from the law office of M. Doug- las Flattery, who, early last March, commenced negotiations on behalf of Loew to secure the Columbia prop- erty, which consists, besides the the- atre, of the Grace Building, a six-story structure adjoining. At the offices of the Loew Circuit in New York Tuesday everyone was dense regarding the Boston proposition. A Variety representative was referred to Mr. Loew, who was not then In the building. One of the staff had heard "some- thing like that," while another stat- ed that there would be no Loew the- atre which would play "big time" shows. It was laid before the speaker that the Loew Circuit seemed to be accumulating a string of houses that could be of advantage in the future, especially as the report from Boston said that the lease on the Edwin Forrest, Philadelphia, will expire with- in a year, when that house will be at the disposal of Felix Isman, one of Loew's partners. When this much had been spoken, the Loew man broke in to ask who the statesman was that once remarked "In time of peace, prepare for war." Then he reiterated that there would be no "big time shows" on the Loew Circuit. A BAR ON AGENTS. From stories told by the outside small time agents there seems to have been a ban placed upon them by the Loew and Fox office booking offices, one declining to do business with an agent who booked with the other. Philadelphia, April 19. The William Fox circuit of New York has opened a branch agency here, with Lillian Pisco in charge. Boston, April 19. The Fox Circuit of New York will establish a "small time" branch agency here by next week. BIMBERG'S PICTURE HOUSE. B. K. Blmberg will begin May 1 the renovation of the old building at the corner of Broadway and 82d street, transforming It into a picture house to seat 550 people. The plot Is 60 by 100 with a 25-foot entrance on Broad- way. It will be ready for opening about Sept. 16. MILES AND HIS PLANS. C. H. Miles, with vaudeville houses in Grand Rapids, Detroit, St. Paul, Minneapolis, and Peoria, now booked through the Theatre Booking Corpor- ation, has decided it is necessary for him to make some sort of booking connections, if he is to continue to give the brand of acts which his pa- trons demand. Miles believes there are sufficient in- dependent managers to form a circuit that will be independent of the United Booking Office or any other booking concern. That does not necessarily mean that it will effect the T. B. C. in anyway. The plan may be to throw all the bookings of the new combination, which Miles contemplates, into that office. That Miles is in earnest is evident from the fact that he has not over- looked anyone with the likelihood of a house or two, in his searching in- quiries. Wiliam Fox may have a conference with Miles in the near future. Miles thinks Fox is the live wire in the east just now. A combination with him would be to his liking. M. R. Sheedy has been in Detroit all week acquainting Mr. Miles more thoroughly in the situation in the east. JULIAN OPENS WITH STOCK. Chicago, April 19. The Julian theatre, a 10-20, which has played vaudeville since opening, turned into stock last Monday even- ing to a capacity house. The New Parkway theatre, billed to open Monday evening, did not, the police interfering, claiming the house did not hold the proper permit. The opening was postponed until Tuesday night. .The Lexington opened last Saturday evening, playing four acts and pic- tures. Three shows nightly at 10 cents. The house has a seating ca- pacity of 800. It is booked by Frank Q. Doyle. ANOTHER DETROIT "POP." Detroit, Mich., April 18. The Marks Amusement Co. has taken a lease on the property at 67-71 Michigan Ave., and will remodel it into a popular priced vaudeville house with a seating capacity of 1,200. It is estimated that $100,000 will be spent in repairs. The house is ex- pected to open sometime in August. CLEVELAND MAY SELL. It was reported Wednesday that \V. S. Cleveland, the "small time" booking agent, was about to dispose of his agency, and retire. William Josh Daly was mentioned as the successor to Mr. Cleveland. OPPOSITION FOR S-O. Chicago, April 19. When the time comes for the open- ing of the next season in the Windy City the Empress theatre, at present playing the Sulllvan-Consldlne shows, will have opposition in a new house at present In the course of construc- tion a block and a half away. It is to have a seating capacity of 1,300 and will be leased by Alfred Hamberger, the owner of a string of 10-20's here. HACK TO THE OCEAN. Joe Wood has acquired the Qrand Opera House, Gloversville and Bing- hamton, ou which an eighteen months' lease has been taken. A similar lease is also hold on the Corning Opera House. There Is a likelihood of vaude- ville and pictures being run later than June, but anyway the Wood agency will have shows in these three houses next season. Joe opens the Pleasure Bay Park In New Jersey, June 27, with eight acts and pictures, playing one show a night at prices ranging from 25 cents to $1.25. The seating capacity is 5,000. He also opens the Doll theatre, West End, N. J., July 4, with four acts and pictures, only one show being given at night. Fancy prices will prevail as last season. The Doll house at Long Branch is located on the same spot where Daly's famous gambling place was conducted. When Daly's things were sold at auc- tion Joe and his wife purchased enough of the place to build the new Doll theatre which seats 385. The two gold domes which graced the Daly mansion, with a stucco front and lots of mirrors forms the little theatre which runs from July 4 until Labor Day. CHARLOTTE GRANVILLE Now appuurltiK In vaudeville. BIG PRICE FOR PALACE. Philadelphia, April 19. The Palace theatre property at 1214-16-18 Market street was sold this week by George H. Earle, Jr., through Felix Isman, to Mastbaum & Flelsher for a consideration said to be about $800,000. Four years ago Earle purchased the property for $6 2~>, 000 and leased it to the Moving Picture Co. of America, in which Earle, Isman and Jules Mast- baum are Interested. The company operates a moving picture and vaude- ville house there at present and will continue to do ho, the sale being an investment. GALLEItY OKDKHEI) CLOSED. Columbus, O., April 17. The authorities have ordered the galhry of the Grand theatre r! ). <_J until adequate mean.; o:' • ■:■ ., ran be installed. The ivv ; \, w i m k lire disaster awakened l'.> t >.' horillea Into activity.