Variety (Jan 1927)

Wednetday, Janiianr 8, 1M7 PICTURES VARIETY AMUSEMENT STOCKS DRIFTING LOWER AS NEW YEAR STARTS Lpew Makes Best Showing, Apparently Being Sup- ported While Famous Pool Stands Aside for the time—Shubert Below 58—1st Time Since Div. effitot upon tradtfis* A lot of favorable tliin»j;s have hjipp*'!!*^! In Famous over tfic yoar, including an extra and a Mtt>ck divi- dend, and if It to to go above what has so far proved Its limit, the feel- ing: la that more constructive developments than are at the u>»»- inent In sight should come into the prospect Motion Picture C»pitia did better than expected. If all the revarsefi that had been rumored In thv^ film (r;id<' had really hanpened, the sto.^k could scarcely have done as well as li lias. The directors cut the dividend from 11.50 to II, and ap- parently on the theory tluit the \v«»rst was over, the stock rallied .somewhat. gcttlnK up to 13 from its low of 10. Sales were he«,vy last week. Summary week ending December 31: STOCK SXCHANOB Amusement stocks ^avc ground upder pressure for the flr.st two f;t;>.sHlonH of t!ie new year. Famou.s }'layers nhowwl llttlo life yesterday except at what appeared to be a re|iistance point at 113. Around noon one trade of 500 was made. In this i>articular iy.sue the initia- tive ail seemed to come from the bear side. For the first time in months l^w seenied to follow a course di.Tetent from the amusement leader. Dur- ing the market session of Dec. 31 there was a heavy turnover, and this waa repeated Monday. There wa.s .s<»me reason to believe that this ccnsisled of testing oi>erationa by the shorts, which was met by pretty deteiTTilnod action by the stock's supporters. Yesterday Loew was done at 47, representing a decline of 1 from its best on last week'a movement. Elsewhere In the group the only special influence at work appeared In Shuber|»"which yesterday broke t0|'below &8, for the first time since It was put on the regular $5 basis. Just before the initial dividend was vdted. the stock got up to a hisrh of 70. and held there until about six weeks ago^ when it began a gradual decline. In some quarters this was attrib- ute to a feeling that the enormous development in theatre building, In New York particularly, haxl changed the once strong position of the the- atre'owner, throwing a heavy ad* vantage to the p!ay i)roducer. Agitation of late over "dirt" shows may have played Its part. The special position in the market at the beginning of the year reacts with particular .strength upon the amusements. While all the high financial authorities unite in an optimistic view of fundamentals for at hast the immediate future. It is recof,'nized that the market posi- tion lias its elements of weakness. Chief of these is the fact that prices have been on the up-grade for more than a year (oxcei)t for the break of last March), and the public is not in the maiicet to any great ex- tent. There to a distinct feeling among daV)blers in tieker play that ther^ must be another corrective bVeAk before the advance can be resumed. F. P. Held Down Tiie uncertainty hits the amuse- ments especially at this timo, be- Oredit Rating on Reports FnNi Forty Nalioos Washington, Jan. 4. Tho International Chamber of Commerce has undertaken a a(*rvlce that should prove of value, it is Stated here, to the exporters of motion pictures. Thi.«r Mervii'o entails the compila- tion of the most trustworthy sources of credit information in the 40 countries represented in the or« ga nidation. Each of the national branches is to submit such information to the Paris headquarters of the ch:iml»er where it will bo made available to business throughout the world. Announcement of this new serv- ice has Just been made here by the Chamber of Commerce of the United Slates. in Charge of New F. P.-L. News Reel Kmanuel Cotien. who has been the editor of Pathe News for a number of yta rs. is lenvinK that orxanlra- tlon and will be identified with the Fumouw I'layers-Lasky short sub- ject department. He will not, h(»\vf ver, as re!>(»rted. be ai the bead of the nhot I subject department which will be under the direct supervision of George Wertcs. Cohen will have dirtn t charge of a new news weekly, which Paramount expects to put into the lielrt next Ifttl. cause the box-offlce has just com- pleted the cycle of Its best period, from September to January; and looking back at what has happened and looking forward appratoin»^iy, the speculator pauses to take stock. Probably the detail in the last half-year that influences opinion as to Famous Players is the fact that it has not entirely made good its summer promise. It has several times got just above VM>, but at that point—which, as it happens, is the old redemption price of the pre- ferred — has always met stock. Whether that means anything or not, no one knows with certainty, but the circumstance Is having its iiiich. I< 7 if* M ti »4 U)\ 43 101 G5 lOli 11'2 I.ovr. 115 m a4Vi 10^ :\2\i M% 61 8 Sale*. Stock and rule. 8,1 (to Eaattnan Kodak (8) lH.JOrt FamuUN I»l>i.\ •r^-T.JiRky (10) 300 lh> |»i»ff iS) Fust Nafl Ksl 1 n«f. (!>.44> 7.G*X> 1m)x Films < I A. (•» 2U.r>0<^ I.* <>M i'.i) iuit<* *...... :HA> M C-M iX .'M t in.5(10 Mut. l'i< . Cu\>. (tl • 1,7(X> OrihHuni •••••• 7,810 Pat ho Kx.)i. el. A (3)..,,.,,,, T.StiO ^f^liuhcrt <:•) «*• UiUv„ Ptct. Ift iiref. (S) ••• •8,i00 Wanivr Uum. < l. A CURB 4,200 American H<>at. (4) notea ..«•«. TOO Do. cum. i>ref. (3). Balaban fit Kutx. 600 Film lnRp*>(t 3.2CO Fox Theatres .'iOO llnlv. Plot... United Aiti.s's' Thea. Clr 14.MM> Warner Hrus BONDS 91S.000 B. F. Keith «I) (i«tork Kxch.).. 212.CO0 Locw (A) (HttM^k Kxch.) 6p;0S0 Warner Broe. (6</«) (Curb)....^. Hlsh. 48 24% IH ;ii 4S 6U Low. 1-(1% 112% 121% l\> ' 4.'.% 2» '4 III V4 98 43% i»% •••••••••••••••• •••••••aeeei 44% 44% 24 40 32% go 1U1% 101% 4n% 43% • • • • 22 67 2»i4 08% 101 103 LMt. 133 114 15im 100 •71% 47% 2I-* i:( r.s 42 44% 44% 6JA4 13% .HT »6% 32 08% 101% 103 Nt>t •.. • • f • » - ■t- -1 't* - x • • • « -1% HI + % • • • • - % + % •/».. k r. . — K • Kx-<U\i(len(l. N(>t<>- LoiM- rato IncluiloH |1 extra, .\iiierioun .'-^i-allng common rate iuclude« extra f] |>}iyi>l>Ic quar erly this year. Chicago fiuld 1U3 shares Balaban & Kutx at (V(%-<14. Rothafd After MiiliMi; Bankers Make loquiries S. L. liotliaft l Is ltM)kiiiK' lur an- Dtln r $1,000,000 to oomplt'te bin tho- atro. That, at least, is tho iiili>rina. lion forthcoming from banking cir* cica in "the Street," to whom applU cation for a loan has been madew The bankers made Inquiry on Hroadway as to what the chances generally were of the new Roiqr before they were willing to con- sider the loan. They were informed that if any- body could put the house over, Hothafel could, but that it was a matter of w.il. hlng the ovt-rhead of I he thf .iti e to k»«ep It n ithhi roason, si> that the luttike would meet the t) ilgo. , it is unUirstood that the bankers were informed that the contem* plated sice of the orcheitra had bron cut from 100 men to 80, which at that tigure would still give the theaire the greatest number of mu- sioicnk of any house on Broadway^ Whether or not the b.inkors made iiie loan after laeir investigation cannot bo learned. #1^ OLD IRONSIDES J<^^^ Qruze's Great Road Show. By Laurence Stallings. NEW YORK: 2nd month at $2 Rivoli. 100 standees every ance* PHILA: John J. McQuirk, President Stanley Co* of America, wires ''OLD IRONSIDBS'^opened to great busi- ness at Aldine Theatre* In worst show week of year, house sold out every per* formance. Patrons most enthusiastic. Pic* ture tremendous hit here and will run rest of season. I congratulate PARAMOUNT on great achievement. (signed) JOHN J. McGUIRK PARAMOUNT ROAD SHOW 1 ■5j ■■i 4 1 OLD IRONSIDES"' EAH GT'irr^<v"ROUGH piDERS"-s."MF,TROPOLIS"-w"WEDDING MARCH"