Variety (March 1923)

Thursday; March 1, 1923 UDEVILLE _^n >.'•'^^. .';..■•• v.;; f; t-^ ■_,<trb y-'J ..W 'W- FAMOUS PLAYERS AT NEW LOW x iiV FOR THE YEAR; BELOW 87 l^oew and Orpheum Make Good Showing After Orpheum*s Reaction Under 19 — Orpheum's r Statement Mixed \ ^ In the absence of new stock mar- ket developments Interest centered on the Orpheum annual statement, . which showed profits for the year applicable to common stock divi- dends at only a few cents a share, but this fact was. ove.-Hhadowed by the letter of President Marcus Hei- man attached to the statement and addressed to stockholders. It set forth that January profits of the circuit amounted to $200,000 and . prospects were for a great improve- ment over 1922 in ih? months to ; come. „ ... .:v%:;: .' .:■ All Discounted Another detail in Mr. Ileiman's ;' letter was the explanaliuu llial more than 81,000,000 had been spent from funds on hand for new con- struction and an additional obli- gation of 1200,000 in bank loans had been met since the period covered by the statement. The market gen- erally disregarded the statement. To be sure, early this week there was a setback, probably manipu- lated, which carried Orpheum to 18^4, but the rally was prompt and "by Wednesday the stock had got back to 20, around its bet^t for the year. ;;-■;■• w^ • -.■. -^- .•, _ Of course, these minor develop- ments had small relation to the statement, for all It contained had been discounted long before it got Into the open. The present con- eiderution is what will improved theatre conditions bring to the Or- pheum box office and how will the new management prosper? Per- haps the most discouraging item in the 1922 statement is the amount of ^ taxes, which appear at $80,000, com- pared to the 1921 figure of $104,000, and 1921 was a poor year, the com- mon stock eirnlnij only about 45 cents. Famous Dull Famous Players was sluggish, get- ting to a new 1923 low, fractionally under 87. Whatever argument can be urged on the bear side of Famous, . the market is firm in the belief that it ft in for an advance this spring. . A new note is coming into the con- sideration of the stock for the long pull—the growing view that Famous Players has developed pretty near Its peak, and that for the futur« it is llkelj* to stand still in growth or go back. This, of course, applies to the entire picture business. But for speculative purposes it seems to be enough for the trading mind that the' stock must for the present go up to give the pool holders an op- portunity for distribution. Thus momentary setbacks are generally disregarded. ; Goldwyn Up * Late last week there was a move upward In Coldwyn. which got out of its old trading area, touching 7^. The move was variously Interpreted. It was presumed that if W. R. Hearst bought into the concern upon s the completion of his distributing arrangement for Cosmopolitan that transaction had been accomplished In the open market before the news capne out. and probably the urgent " buying that put the price up came from out.'<i«lor.4 who spizpi the op- portunity for a turn* It is hinted in certain quarters that the Ooldwyn P<»ople onconragPil the move in the hope of ro.ixing out some of the SamiiPl fJohlwyn holdings, but this is mere gup.«<slng. TI)f» piiirrr-f" of (raninctlcins Fc1» 2.1 to March 1. Ir'-'M='\r: STOCK EXCHANGE .'^.i osi.ir'gh !.o>,v.C':<>«ie. Chi?. THEATRE PEOPLE NOT WORKMEN, SAYS JUDGE Dismisses Indictment Against Winkler, Musicians' — President Chicago. Feb. 21. The punishment of union business agents who extract fines or penal- ties in jurisdictional labor troubles is rendered more difficult by the de- -cision of Judge Joseph B. David in the case of Joseph F. Winkler, pres- ident of the Musicians' Union, un • der the Extortion law of Illinois. He was fuund "not guilty" and the law. declared unconstitutional. Burt Earle has pushed the case against Winkler. The Indictment followed evidence he had attempted to force Earle to pay a fine of $225. Earle's evidence led to an indict- ment of Winkler. The case had been in the courts for over a year. Judge David's opinion that danc- ers, girl musicians and actresses are not workijog^irls in the purview of the law/^wak^i^d much interest in tliA case amongHjie theatrical col- ony. Jiidge David^ decision was based on the ground that the Ex- tortion net is special legislation in- tended to cover di^pulfs that arise between workmen, but not di?*putes that may arise between corporations or the ofllcers thereof. CANADIAN WRITERS' BILL Over Border Writers Suggest Pro tectiv* Measure Introduced ~\K T-'ri.l.n --. Fnm. IVnr-I •_'ci'd *i7«. <ir PTi; Do pM •jo'i tr.*; j>.-.i.. f\r,\ CoUiw-yr} KVIOfi T'i r.\ fl"; I.oow. Inr Roo }f\~i, 1f»> 10'< — », OrnhPM'ii .'^iVi l!ii„ lO'j if>'_, — i,^ nof^ton mo\ I 'JM t»ii l)«»iii7i .'It V.*'n. ' 1.KM1 Ottawa. Can., Feb. 28. The Right Honorable J- A. Robb Minister of Commerce, has Intro- duced .into Parliament a new bill on the sugge«tion of the Canadian Authors and Composers' Society providing for the reimbursement to lyric writers and composers for the mechanical reproduction of their musical compositions. Heretofore no song writer or publisher re- ceived revenue for any music roll or record made, be he British, Ca- nadian or American. Like the British bill, the new amendment calls for a S per cent, royalty to the copyright proprietor based on the highest retail price per record or roll. If the bill is passed and approved as It Is, with the likelihood it will be, the royalty derived per disk or word roll will top the Americans* ratio, although the general turnover Is conversely out of proportion comparatively. FOE AGENCY LAW CHANGE Albany, N. Y. Feb. 28. Assenrvblyman CronIn of Brooklyn has Introduced a bill amending sec- tion 191 "Of the general busiTbss law so that the license comrilsslon- er may suspend as well as revoke employment agency licenses as well as revoking them. The employment agency statute governs theatrical agents (but not artists' repre.sentatives). but the bulk of hooking busines.s is handled outside Its provisions. The Cronin proposal also provides that the deputy commissioner of licenses may conduct hearings and act on apr»lications for licenses in tlif al)- sence of the commi.-sioner. IMni. rin -T, (•o pf.l... fJoldn-yn .. . OrnJifii'n ... t>rnh»"JTn !>.; ■ w, r.-. (\\ n\ 80i» llf-;, I'll. l!»i. .Vrt !»n)«>s. SO if>-; lO't- 10'i )»of»on «oiiI 1.'. (»u»liiijiii ill |!»'... p:im. iv-v I... nr.ttt «.»<'. «tr.!«', fiv, • T>.. >r<f<i .*H» jw, w- w^., _fi..i.i.vt» vsKVi nt. t:\. t\7L I ••(M\ . J IV. . Or.^hi'ii'n . . . li'Hm. l»l!,\ I, r>'. T»fv.. l««»'"\.. 1'V. , Hy .1. so;,! lit ll'-i. ■Wi i* |i!|. y:,j v.n, S7'i »7 IV .• (It lft«i R7'i 1>T • fiir. V« IS'i. -^1 Lynn Houses Can Open at 3 ' Lyiiti. .\r.i>s., IVh. 28. Managers of tiie;jtrps in Lj'nn have l)ppn given p«in)i«Mion to op^n the doors of thfir theatri's at 3 o'clock and start performances at 3:30 o'clock Sunday aftcrnooiiS. The 8tat# law conrprning Siimlay shows stipulatp- that j>erlormaiifPs cannot be started before I oVIork. SrttUI(la\ THE CURB .'^.l.^vt t(..»ti H h'i i.o.v. <Ug. 7^ Xo Ml iff*. MiriiJav — Tri;«'i(ri.. I'llm I Hi. .M... • (.>nt,« 81 itlKir^, J,'><»•! •Jl •.••HI ,'.' JO EDNA AUG in "DREAM DAYS" "This is one of the best sketches ever presented In vaudeville. It is plausible, well written and well acted. The act opens . . . (fol- lows here description of act). Miss Aug's greatest moment comes when the tenor kisses her hand and ac- claims her a fellow artist; he 'at singing and you at makins the oi)era house nice and clean.' . . There the stage grows dark and when the lights go up we see the tenor in evening clothes and hear him render the prologue from Pag- liaccl in a very good voice. Miss Aug then comes on in evening gown and gives a selection about 'Nerves' that goes over like wildfire. . . . We caimot say enough for the very excellent acting of all the members of the cast. Miss Aug. herself. Is a revelation, but she Is ably sup- ported by the tenor, Mrs. Schultz and the Boss. There is enough thought and body to the act to make an entire play; in fact, many plajs have had less excuse for be- ing. The tenor has a good voice and the accompanist Is adequate.**. —C. C, NEW YORK CLIPPER. IND. FILM CENSOR OFF; SPORTS BILL PASSES Senate Defeats Steele Bill by Indefinite Postponement— Sports Passes Senate Indianapolis, Feb. 28. The Senator Steele bill was In- definitely postponed for further at- tention in the Indiana Senate Mon- day afternoon by a vote of 40 to 4 That action defeated the movement for motion picture censorship In this state. By a vote of 53 to 38 also Mon- day afternoon the Senate passed the bill to prohibit commercialized sports in Indiana on Memorial Day and' the bill goes to the governor for his action. Hs will probably sign It. The sports bill will cover the Indianapolis Speedway and Its big annual race on May 80. More than a week had passed without action upon Senator Steele's motion picture censorship commission bllU The session closes March 6. Censorship got a severe blow when a gathering ©f prominent social workers from all parts of the state went on record against IL SPOKANE ASSN. FORMED Spokane, Feb. 88. The proposal of some of the solons >; the Washington state leg- islature, now In session at Oljmpla. to levy a 10 per cent, tax on the gross receipts of theatres resulted in the formation here today of the Spokane Allied Amusement asso- ciation. Every local theatre owner .was present at the meeting. Dr. Howard S. Clemmer. of the Clemmer the- atre was elected president. MAKE JILTING CHEAP Albany. N. T., Feb 28. Assemblyman Hackenburg Is .sponsor for a bill providing that a contract for marriage must be In writing and limiting the anfount of judjjmont for a breach of promise to six cerits The bright Idea Is to discourage advf-nturesses from suing poor mil- lionaires. ""»% ORPHEUM ANNUAL STATEMEirr (Statement of Orpheum Circuit. Inc., Issued as of Dec. 31, 1922. and in comparison to. its statement of 1921). INCOME ACCOUNT • • • • » • • • • • » f « t • •••■•••••vtte GrO£!S Income * Box Ofllce Uecelpts. Rents, Concessions, etc. Expenses Artists' Salaries and Film Service Other Salaries Op. Expense & Theatre Overhead Net Operating Income Before Deducting De- preciation, Amortisation of Fed. Taxes.. Depreciation & Amortization Deductions Amortization of leaseholds Depreciation of Buildings and EQuip. except new Orph. Jrs. at Los Angeles and San Francisco Provision for Fed. Tax (Kstimated).... Net Inconje to Surplus 1922 |L3.225,63« 1,179,421 5,586.530 2.997,089 4.313.714 1,807,723 1921 ' 13,305,971 783,667 5.862,903 2,708,624 3,926^00 702,156 232,840 740,447 80.000 55M36 104,000 785,143 1931 1921 From the 1922 profit are to be deducted dividend payments (pre- ferred) amounting to |543,008, which leaves net to surplus of al>out' 112,000, or a few cents per share applicable to common stock. How- ever, the president's letter to the stock holders puts a different com- plexion on this situation by the mention that more than $1,000,000 was paid in 1922 on account of construction of new the{|tres out of funds on hand. This on the surface would make It appear that the company earned around |3 a share on the common, but reinvested considerable sums in new properties. President Helman'e letter also declares net profits for Januarj'. 1928. (following the period covered by the statement) were $200,000. In addition to which the letter says the company has paid $500,000 in hank loans since Dec. 31, 1922, and has practically no open indebtedness. CONSOLIDATED BALANCE SHEET 'ASSETS ■ t Tangible ' ' ' . v' V }^nd »'i •;t Buildings and I'^uipment Furniture and Fixtures Lease Deposits. .* Leasehold Rights Investments in Afl^llated co.'s Intangible Goodwill, contracts and Booking agree- ments Current Assets Cash on hand and In banks • Marketable securitioa ...» Miscellaneous Current Assets • Accounts receivable •. Sundry Advances and Deposits Supplies , Prepaid Insurance, rentals, etc Deferred Charges Total Assets '. LIABILITIES Funded Debt 5-year convert, notes, i Bonds and Mortgages of sub.^ldlaries... Total '. Current Lfabllltles Notes Payable Accoutjts Payable Ten.ant.s Rental Deposits Accrued Interest, Rentals and Local Taxes Fed. Taxes for 1922 (Estimated).' Sundry Creditors, Accruals, etc Dividends declared In Dec. payable Jan. 1923 * Total •The 1921 statement carried the notation of $2,000,000 of these 7Va per cent, notes authorized, but $r>00,000 then unissued. It ap- peared that the full authorization has now been issued and this total has been reduced by $100,000 callable through the sinking fund, Jan. 1, 1923, In connection with the Income Account first above set forth, the gross Income for 1920 (tho first year of the consolidated account) was $15,563,814, and the profit for the year $2,816,958. amounting to $4.20 per share on the then outstanding comn-on stock. HUSSEY IN "MONKEY GLANDS" .Jimmy Ilussey has been added to the li.st of Americans engaged for the " Monkey (JIanda" revu* at the Knipiro Palace, I..ondon. by Albert de Cuurville. March 16. M. S. Ben- tb.'im ncgoilated the Hu?3ey engage- ment. HiiKr-««y .«;i:ls for London S.iturday, M.nrch :*., on iho Zceland. THE WIRTH FAMILY Ttnd ROY ST. LEON, PHIL'S COUSIN