Variety (March 1921)

iday, March 11, VAUDEVILLE [OR REACTIONS IN STOCKS DUE TO LISTLESS TRADING CON CONRAD LOSES "BREVITIES" ACTION "amoui Players Sags to 66, Although Street Tips # Common as a Buy—Loew Holds Fairly Well— Future Course Clouded. The amusement stock* were ilightly reactionary thia week, al- though trading was so narrow that jie prico trends were not significant. The demand for the film and theatre group appeared to have run its course. It was a case of no influ- ence either way and, as usually happens under these circumstances, the movement was slightly down- ward. Famous eased off to 66 as igainst a high on the movement of totter than 68. Loew drifted to II, but on Wednesday recovered iharply to better than 17. Orpheum ileo was off to 26, two points un- ler its best since Jan. 1. Transactions in the amusements bave been at a minimum. Tuesday there was not a trade in Famous Players until nearly noon and the lay's turnover reached only 500 ihares. Wednesday no dealings same out up to noon. Wall street tinkers who are interested in Fa- nous Players are said to have jpenly recommended Famous Play- prs as a promising buy either for "probable appreciation" (which is the frock-coat-top-hat equivalent of "plunge for a quick profit") or for Investment. The word has gone out that the annual statement will show between $25 and $28 a share net mrned on the common for 1920, and it is said that this figure does not reflect all the excellent showing of the business. This indefinite statement might mean a good many things, such as a generous provision for depreciation In the statement or healthy growth of earnings since Jan. 1. What the letails of the rumored advantages In positions are did not come out. However, one of the leading finan- cial men in the company is reported to have declared the takings of the company's Broadway theatre prop- erties have been exceptionally grati- fying. Last Sunday was one of those mild days, which, at this sea- son would ordinarily be expected'to draw patronage away from the the- atres, but the box office takings of the Rialto, Rivoll are said to have been large. The film business in general is said to have been good in all its branches during January and February. In the case of Famous Players the price reaction probably comes from the fact that partisans of the stock have bought to their limit in the ef- fort to discount the 1920 statement and now axe awaiting develop- ments. When the buying power of a stock is used up, it always reacts somewhat Holders are content to hold on for the long pull while no new demand is present to drive the price higher. Thus trifling sales by weak holders are reflected in dis- proportionate setbacks. Orpheum is under the same influ- ence. There never was any ques- tion of the substantial nature of this security for investment; its 1920 consolidated statement showed the dividend earned twice over and the figures for January, 1921, disclose a gain of nearly a third in net profits over last year. Nevertheless the issue was lifeless and dropped two points to 26 in minimum deal- ings. For four business sessions there was not a trade in the stock. This illustrates the trend of values. All Influences surrounding the stock were favorable, but it sagged from Pure inanition. This development was the reverse of expectations, for Interests identi- fied with the company looked for the stock'to go to 30 by March. The Performance of Loew was mystify- ing. It had advanced steadily from *• to 18, and then, for no reason discernible on the surface, retraced the gained ground. On Wednesday it showed some animation, getting back to better than 17, again actu- ated by nothing in sight. Wall street, or at least the spec- ulative .side of the financial com- munity, looks forward with ■ good deal of uncertainty. The market u Pset of last November and Decem- ber is fresh in their minds and a disuiipoirument in the expectation of a brisk advance for March *°<i]U not occasion great surprise. i-ast October everybody looked for a reactionary market until eiec- '°n and an advance afterward. ■«yer« held off until after the first Tuesday following the first Monday, fully intending to get in then. But nothing stirred after election day and holders unloaded. Since Jan. 1 all the talk has indicated a down- ward course of prices until the taking over of the government by the new administration and an up- turn coming promptly after March 4. It is still pretty early to say that t!.ls prophesy has failed to ma- terialize, but Wall street is begin- ning to figure on a repetition of the autumn upset. There is also the European situation to be weighed and interpreted in terms of market prices. The developments so far have been received with striking complacency, the only flurry notice- able being a sharp break in the rate for sterling exchange on Tuesday. One trader took the view that March would tell the tale. If the definite upturn did not get under way before April 1, he figured, it would 1 probably mean a long trad- ing market, characterized by nar- row price movements and a chart line of unimportant zig-zags, but holding in a generally horizontal direction. Goldwyn's position is entirely in the dark. Only two trades have come out from the Curb, one of a 100-share lot and one of 400 shares, all at the 5V4 level. This is only a point and a half better than the stock's extreme low of last fall and would not seem to point to any sub- stantial betterment in the com- pany's position. Triangle continues to be a dead issue on the Broad street market, Both sides seem to be holding on until something else cornea out of the house cleaning process which has just gone into the courts. It is significant that nobody appears to be interested in working the price up for a turn on the short side. The summary of transactions March S to 9 Inclusive, are as fol- lows: 8TOCK EXCHANGE Boston Judge Denies Petition for Accounting. Boston, March 9. The petition of Con Conrad, a song writer, against the Buckeye Producing Co., producers of "Broad- way Brevities," which ended a four weeks' run at the Shubert her«v Sat- urday, was denied by a judge in the equity session of the Superior Court. Conrad sought an accounting for profits under an alleged contract to write the words and music used in the show. Conrad claimed he was engaged to write the lyrics and music and was to get lVs per cent, of the gross receipts. He said he told the pro- ducers originally he would charge "the usual," which, he explained, meant 2 ] er cent, of the gross re- ceipts, but later modified it by % per cent., because all the songs used in the show were not his. The master who heard the facts in the case reported that while Con- rad Had been a writer of songs for fifteen years, he was not qualified to use the trade significance of the phrase "the usual," because he was not an expert in writing "produc- tion numbers." Allen K. Foster, stage director with the show, said the agreement was that Conrad was to write the music and lyrics, but was not to re- ceive any remuneration, as the pro- j duction was not In shape to pay him anything. Foster claimed he had told Conrad that all he could offer him in lieu of money was such ad- vertising as a song writer would get from a successful musical revue and N. Y. LEGISLATURE BACKFIRES ON PURITANICAL RESTRICTIONS City Assemblyman Introduces Sweeping Measure Wiping Out All Old, Obsolete Blue Laws-* Would Repeal Statutes Against Sunday Shows. ^mn ■■! ■ ' ' Albany, March 9. A sizzling backfire was started in the New York Assembly this week when Assemblyman Frederick L. Hackenberg. representing the Four- teenth District in the greater city, introduced a sweeping measure which would wipe out all the dead letter blue laws on the statute books. Including the ancient section of the penal law which prohibits Sunday performances. The "kick" of the proposal lies in the fact that it»shows plainly that half a dozen of the old blue laws are absurd and have not been in force for-years. All the curfew laws would be cleared away and many restrictions upon personal liberty which have not been invoked for decades would be repealed. Mr. Hackenburg's proposal in- cludes an enactment of an amend- ment to the civil rights law permit- ting State and loca 1 legislation re- stricting personal liberty. This amendment adds a new section to be known as section 10, providing that "No citizen of the State shall be deprived of or restricted in the exercise of any right of governing his individual conduct or his per- sonal happiness in such manner as he may deem proper, provided the stated that if the show was success- public peace and safety is not ful there would be a demand foi {thereby endangered. No ordinance, his songs, which would be "turned • resolution, rule or regulation of any there has scarcely been a conviction under them in a decade. They are used now principally for blackmail- ing purposes. Section 8S0 of the penal law la amended so as to permit parachute jumping from balloons. No penalty under this section has been enforced in this State for many years. Section 833 of the penal law, re- lating to puppet shows and rope and wire walking and dancing, la re* pealed. This is another obsolete section of the law. At the present time such shows are prohibited. Another measure repeals section 834 of the penal law, relating te the prohibiting of certain exhibitions without permission of town authori- ties. This section has been much abused and many legitimate cir- cuses, carnival companies and the like have been subjected to unrea- sonable fees for license privileges under its workings. Transfer Provision. Section 942 of the penal law which prohibits the transfer of a compli- mentary or personal ticket of ad- mission to* a place of amusement is also repealed on the principle that a ticket of admission is gooi for admission and cannot be restricted as to the user thereof. Another bill repeals article 114 of the penal Law which relates to 66% -1% 16* .. 6« -H 88% -H 16% + % Thursday— Sale*. High. Low. I^ait. Ch*. Fam. Play-L.. .3000 68 67% 67% + ft Lo«w. Inc 2400 16% 16% 16%.. Friday— Fam. Play-L... 400 68% 67 67%-% do pref 100 83 83 83—1 Ix*w. Inc 3500 16% 16% 16% + % Bostol sold 145 Orpheum at 26%027%. Saturday— Fam. Play-L... 900 66% 66 Loew, Inc. 100 16% 16% Monday— Fam. Play-L...2700 67% 66 do pref 100 83% 83% Loew. Inc 2400 17% 10% Chicago cold 50 Orpheum at 27. Tuesday— Fam. Play-L... 500 66% 66 66 .. I/lew, Inc 3000 17% 16% 17 + % Orpheum 400 28% 26 26 —1% Chicago sold 125 Orpheum at 26926%. Wednesday— Fam. Play-L... 300 65% 65% 65% — % Loew, Inc 1000 17% 16% 17 .. Orpheum 100 25% 25% 25% — % THE CURB Thursday— Sales. High. Low. Last. Chg. Goidwyn 100 5% 5% 5%.. Tuesday— Goldwyn 200 5% 5% 5%.. LIEBERT-LAWRENCE WED be passed so as to conflict with the article is now unnecessary, alt such loose," and he would derive a reve- | city, town, village or county shall | prize fighting and sparring. This nue in that way. Conrad claimed the show was earning gross receipts of $18,000 weekly ind as he was not receiv- ing his royalties, to wl.ich he claimed he was entitled, he asked the court to name a receiver to take charge of the receipts pending a dis- position of his case and also to en- Join the management from permit- ting the properties of the show to be removed from the jurisdiction of the Massachusetts court until his claim was established 1 . The master found there was no agreement for the 1 % per cent, royalty. provisions of this action. All acts, or parts of acts, inconsistent with the provisions of this act are hereby repealed." • "Aark-vark" Races Barred. In the amendment to section 987 of the penal law Mr. Hackenburg has included with horses all ani- mals from aark-varks to zebras and has also included automobiles, bal- loons, flying machines, kites, steam- boats, powerboats, sailboats, row- boats or any combination thereof, and other mechanical devices that or reward, thus lucidly clarifying the section of the law. The pres- ent law simply provides that horses and other animals, not specifying activtles being regulated by the state athletic commission. Another measure repeals section 2146 of the penal law, relating to public sports on Sunday. A recent amendment to the section legalized Ashing on Sunday but this measure allow all public sports on Sunday. Section 2149 of the penal law at present provides that any person who exposes or offers for sale any goods or merchandise on Sunday shall in addition to the fine Imposed forfeit all such goods, the same te may not be raced for any bet, stake , *>« sold and th , e Proceeds given to the overseer of the poor. No one Syracuse, N. T.. Mardh 9. While playing at Keith's in "The | the animals, shall not be raced for End of the World," Sam Llobert and Marie Lawrence of the com- pany were married Saturday by Deputy City Clerk George Hancock, Llebert gave his age as 32; his wife, 24. stakes. The other amendments proposed are as follows: Repealing sections 100 to 10S of the penal Law, relating to adultery. These are obsolete sections and BIG ENGLISH CONTRACT One of the biggest contracts given an American turn for English book- ings was closed this week with Odlva and Captain Adams. It calls for 72 weeks starting late In May, the salary being 250 pounds sterling weekly. It is provided that the act be paid the equivalent in American money at the normal pre-war rate of exchange—$4.86. The contract salary is net. Odiva will take 9 sea lions now used in the act and it is agreed each house management is to pay one half of the fish bill for feeding the animals. The swimmer has not played England for 18 years. "OWL SHOWS" SOUTH New Orleans, March 9. The Lyric, catering to colored people, has been giving special midnight perfoi mances at different times for white people only with unusual suceess. Now comes the Sacnger Amuse- ment Co., announcing it will give a special midnight showing of Chaplin in "The Kid,"' one week prior to Its scheduled booking at the Strand feeling there are enough peopl ever heard of seizing the stock of a merchant under the provision* of this section. Section 2151 of the penal law pro- hibiting parades on Sunday is also repealed. Another * measure provides for theatrical performances on Sundays, repealing section 2152 of the penal law which now prohibits the same. MRS. GRESHAM IN SKETCH Will Join "Ladies of Vaudeville Jury* In The wife of Herbert Greshnm the play director who recently died will return to the stage. She will ap- pear in "Ladies of the Jury," a vaudeville production starting next week, taking the role of the "fore- woman of the jury." The act Is a satire on all-women juries, now possible through equal suffrage. It was produced by Clarence .Tacobson. having been written by Howard Emmett Rodgers. Frank Fay Interpolated some bits. Ethel Gresham, a daughter of the late director, has been in the city since it opened. DO YOU BELIEVE IN 13 7 IRENE FRANKLIN waiting and anxious to view ilt» . jj,, . Thirteen Letters. She Was Uorn on the Thirteenth of June. ^ Married film to piJek the Liberty, where ihe (lM Thirteenth of May. Opening on the Oin, m Circuit March Thirteen •owl show" is to be given. (.Sunday Next) at Omaha BATES SHOW FOR LONDON That the Nora Bayes show, "Her Family Tree." may go abroad be* fame known this week when it wae learned 1.hart Carle Canton had made an offer to take the piece to Lon- don and produce it at the Princess theatre there in April. The venture calls for some slight changes being made in the book to suit the foreign public with the cast and scenery being taken over In • tact. The project is not definite as yet. LA YUEN'S COAST WEDDING Salt Lake City, March 9. When 'Tutting It Over," played f'untuges here, it developed'the act's manager, John It. Layden had mar- lied the Sunday before at Loe Angeles. Ruth Trammel of that city, non-profcMHional, who is ac* eompany her husbnnd on the Pan tour.