Variety (March 1921)

WBansm^^m riday. March 18, 1921 VAUDEVILLE FAMOUS REPORTS $21.77 NET; LOEW MAKES EXTRA DISBURSEMENT Circuit Declares Regular Quarterly of 2 Per Cent, and Additional V/ 2 —Market Advances After First Installment Tax Payments, There were three definite develop- ments in the amusement stocks this week, the first and most important being the removal of selling pres- sure from the whole list after the business world had gotten over the first federal tax quarterly payment. The Stock ExVhange amusement fro up responded to this influence Immediately in common with the rest of the active list. Famous Players-Lasky by noon Wednesday had got up to 69>£. a new high fur the year, after slipping to 62, and LoeW climbed easily to its bed of 18% for the current year. Some favorable influence, the na- ture of which has remained a mys- tery, has been vaguely reported as being at work in Famous Players. What this is should be disclosed very shortly. The annual meeting of the stockholders was scheduled for yesterday (Thursday). The sharp upturn in the last hour of trading on Wednesday obviously was inspired by expectation of de- velopments at the meeting. The Famous Player financial state- ment for 1920 was issued early in the week and proved rather a dis- appointment to the outsiders. It showed net profits of $21.77 a share of common, whereas the public had been prepared for a showing of be- tween $25 and $28. Also announcement was made that Loew, Inc.. directors had de- clared the regular dividend for the second quarter and had voted an extra disbursement of 1H per cent., making the quarterly payment Z% per cent. Assuming that this extra will not be repeated and that the regular rate will be maintained for the rest of 1921, dividends of 9% per cent, at 17 V6 would represent an Income of nearly 14 per cent on the Investment. Strangely enough the Famous Players statement and the extra on Loew did not appear to have any special influence on either stock, which did not move until Wednes- day. It is a fair presumption that the developments already had been discounted. However, the passing of March 15 marked the *nd of liquidation for purposes of raising cash to meet the first tax payment and released the market from that much pressure. This sort of selling apparently was accomplished late last week, being pretty well bunched in the Thursday and Friday sessions. Fri- day the whole list was off, Famous Players breaking 2% points in the single business session, from 65^4 to 62%. This was in addition to the loss of more than half a point the day before, making a two-day drop of $3 a share. That this perform- ance was merely a momentary dip waj manifest Saturday when near- ly all* the Friday decline was re- covered in the half session. Loew had followed practically the same course. It was evident that sales for cash was only part of the pressure, the bears adding to its weight when they sensed the fact that there was some volume of urgent selling in progress. Short sellers were prompt to cover a' the first sign of a steadying market. On top of getting rid of th' March 15 squeeze, which might have been foresr-cn, came the dividend action of Loew and this had a good influ- ence on all the amusement It-sues. It was apparent that if Loew was prospering sufficiently to make an extra disbursement, the amusement business in general must be In a advantageous condition. If there Is to be a general upturn in market Values, the film and theatre group °ught to be in nn excellent position to participate generously in all bet- terments. However, th^re 14 still a Rood deal of pessimistic sentiment toward the future. The country has to go through much labor ad- justment and the new administra- tion ha* not yel shed any lighl on the future possibilities of " and tariff revision. One element which has ptqpd as a barrier i«» iilv.inclnn s,(, i>ritv prirfs s< cms to ho fairly w °h disposed of. The bnnkinf iituatlon j s t.iu*' improved by th p $2,509,000 'DOWN EAST' EARNINGS ADVERTISED THE MONTHS SIX BEST SELLERS Campaign of Stock Sale in Kansas City. Kansas City, March 1*. Concurrent with the engagement of "Way Down East" at the Shu- Company of this city ran a quarter bert theatre the Sutherlin Securities page advertisement in the local papers offering D. W. Griffith, Inc., stock for sale. The advertisement, which bore all the earmarks of a professional ad writer, called attention to the re- markable success of Mr. Griffith, who was called "the industry's The announcement also gave the earnings for "Way Down Kasf liquidation of over-extended loans, mostly of a speculative nature on commodities, and credits are likely to be easier for actual business needs. Famous Players-Lasky reported operating profits of $7,826,159 for 1920, which appears as an incr ise of $3,693,174 over the same item of the previous year. Net profits af- ter Federal taxes and preferrc 1 dividends were $21.77 a shart of the 214,677 shares of common OMtstand- ing. The lt»l* net was $15.36 a share on 199,403 shares. The income account was as fol- lows: 1020. 1919. Operating profit $?.fe(5.139 $4,132.98'. Fed. taxes ami chit«,' N k 2.is!».030 i.ooo.ooo foremost money-making producer. Net profit 5.337.129 1,1X2.083 Preferred dividend* ... 741.0 A} 00.000 Common dividends.... 1.071,240 Surplus 2.924,883 3.000.310 'Includes $2f.7,477 sundry except tonal items property chargeable to prior years. The ticker on Monday carried the statement that Famous Players' ex- port business was on the increase, E. K. Shauer being quoted as saying that foreign shipments for the week ending Feb. 14 totalled 1,500,000 feet of positive film, a record for the company. It is also declared that economies worked out within the company promise to improve the financial showing for the mid-year financial statement. There were no developments in Orpheum of importance during the week. The stock broke tc 29 % in the Friday flurry, but for the rest hung listlessly in narrow trading at fractionally better than 26. There was no trading in the Curb stocks as far as the reports disclosed. The summary of transactions March 10 to 16 Inclusive are as follows: STOCK EXCHANGE. Thursday— Sales. High. Low. Last. Ch*. Pam. Play-L..1900 C.flSi 63 65 — % Do. pf 100 82Vfc 82H 82% —1* Loew. Inc 2600 17 16% 10% — % Orpheum 200 26'A 26% 26% + \ Bostol sold 10 Orpheum at 20%. Friday— Fain. PIay-L..210O 68 62% 62% —2% Do. pf 100 81% 81% 81% —1 Loew. Inc 4:>00 17% 16% 16% — % Orpheum 200 26 25% 26 — % Boston sold 10 Orpheum at 26%; Chicago sold 50 at 25%. VICTOR RECORDS. "Just Snap Your Fingers at Care." "Caresses." "12th Street Rag.* "Dotty Dimples." "Margie." "Paleeteena." "Broadway Rose." "Sweet Mamma." "I Used to Love You," etc. "Dolly (I Love You)." "Rosie." "Honolulu Eyes." Q. R. S. WORD ROLLS. "My Mammy.'' "Broken Moon." "Irish Nights." "Margie.* 'Palesteena." "I Lost My Heart to the Meanest Gal in Town." ^ COLUMBIA RECORDS. "Feather Your Nest* "Grieving for You.' "Bright Eyes." "Love Bird." "Margie." "Broadway Rose." "Humming." "Now and Then" ,,,.. "Rosie." "You Oughta See My Baby.** "Tired of Me." "That Riga-Liga Lee." 8HEET MUSIC. "Bright Eyes." "I Used to Love You But It's All Over Now." "Old Pal, Why Don't You Answer Me." "My Mammy.' 'Mazie." "Broadway Rose." •I Saturday— Fam. Play-L..4800 Do. pf 100 Loew, Inc 900 Orpheum 200 Monday— Fam. Play-L..3000 Do. pf 700 Loew. Inc 900 Orpheum 300 66 81 16% 26% 66% 83 17% 26% 62 81 ' 16% 26 63% 82% 16% 26 6* +2% 81 - % 16% - % 26% + % 65% +'% 82% +1% 16% + % 26% - % Boston sold SO Orpheum at 26; Chicago 50 at 26. Tuesday— Fam. Play-L..1500 66% 65% Loew, Inc 1800 17% 17 Boston sold 20 Orpheum at 26. Wednesday— Fam. Play-L..4500 69% 66% Do. pf 200 83 83 Loew. Inc 1500 17% 17% Orpheum 100 26% 26% from September 24. 1920, to Feb- ruary 26. 1921, as $2,509,503.37, of which (Irifflth's share was credited as $1,664,473.21. The advertisement asserts that the I), W. Griffith Inc., was organ- ized for the purpose of consolidat- ing all of Mr. Griffith's moving pic- ture Interests and that all pictures now owned, including "Way Down East." and all those hereafter pro- duced by him belong to the com- pany. This stock sale undertaking is be- ing conducted generally throughout the far and middle west by the syndicate which originally under- wrote the Griffith, Inc., issue of 125,- 000 shares of Class A stock. An advertising campaign is carried out in each town coincident with the engagement of "Way Down East" and is paid for by Lee Benoist Sc Co., of St. Louis, and Counselman & Co., of Chicago, who comprise the syndicate. In gauging the best sellers In sheet music, the jobbers all find unusual demand for the songs mentioned. This does not mean other songs are not selling In large quantities, and it is only more than fair that "Love Bird," "Darling," "Humming," "Feather Your Neat," "Grieving for You," "Now I Lay Me Down to Sleep," and a few other* be cited among the brisk sellers, although the six aforementioned stand out a little above the others, particularly "My Mammy** and Bright Eyes." which are most In demand. TWO BEQUESTS TO ACTORS PREVENT SHOW INVESTMENTS 66% +1% 17% + % 60% +2% 8B + % D. W. Griffith is not interested in the transaction. When the stock was issued it was turned over to the underwriters who put the amount representing the under- writing price to Griffith's account, and the producer ceased to have any further interest in the flotation. Griffith retained the Class B stock of about the same number of shares for himself. Most of the A stock is understood to have been sold in New England and in the middle west. It has not been quoted on the New York Curb nor in any of the out of town markets in a long time. On the basis of its best dis- bursement (also Its first) the stock would be paying 10 per cent It haa no speculative following. The underwriters* "over the counter" price is still $15 a share. William Kent and Walter Scanlon, Left Fortune by Relatives, Forbidden to Use Any Part in Thea- trical Enterprises. -♦ BAYES ASKING $3,000. Will Return to Vaudeville Follow mg Show's Close. Nora Bayes is agreeable to a re- turn visit to vaudeville if the big time managers will pay her $3,000 weekly. She is closing this week with her show, "Her Family Tree," at the Shubert. When Miss Baycs last appeared in vaudeville her salary was $2,500, and the managers are not inclined to advance that figure. "Her Family Tree" is said to have been personally produced and financed by Miss Bayes. It is also reported the production now repre- sents an Investment by Miss Bayes of over $100,000. TOM WISE MISS MAC TOM WISE IS NOW IN VAUDEVILLE WITH MISS NILA MAC ANO STRONG EQUITY CAST. Presenting the one-act comedy classic, 'MEMORIES" by Roy Cnant Management JOSEPH HART. Through the death of his father Si St. Paul ten days ago, William Kent will receive an Inheritance of $l7i,- 000. There is no other heir, Kent being bequeathed the entire estate. By a provision of the will the actor la forbidden to Invest any part of the estate or the moneys thereof la theatricals. This is the second instance re* cently where an actor was willed a fortune but was forbidden by the testator to use the money for theatrical purposes or production. The inheritance of Walter Scan- lon, the Irish tenor, now starring In his own play under the direction of William Woolfendan, Is so pro- tected. Scanlon was formerly known as Walter Van Brunt. The family Is prominent In Brooklyn. His grandfather was opposed to his appearance on the stage, which was one reason for the change of Van Brunt's names to Scanlon. When his grandfather died the will pro- vided not only should the grandson not Invest any portion of the estate in a stage production but directed his attorney to Investigate whether Scanlon had already done so. If it was found he had, there was a pro- vision to protect the estate from being enmeshed. Scanlon's grand- mother died a short time before her husband. Kent returned to New York last week and has again gone into Chas. B. Maddock's production act "Bubbles." He will remain with the turn but two weeks, thereafter ap- pearing In his own act which haa been routed. SANTLEY AND N0RT0H SPLIT. Santley and Norton will dissolve their partnership, of about eight years' standing, at the conclusion of their engagement in Providence. Mar^h 19. Jack Norton haa signed with Charles B. Maddock for threa years and is to appear In "Bubbles." Joe Santley will return to the music publishing establishment of Leo Feist. Both boys reunited this season after having been separated for two years. NELSON AND CR0NIN DISSOLVE XHson and Cronin vaudeville partners for the last two jears, separated Saturday. Both have been playing with "Broadway Brev- ities'" since it opened. Nelson re- mains with the show. Cronin will frame i new doubit for vaud< villa