Variety (Aug 1928)

i 1 10 VARIETY P I C T U R E S I 1 i Wednesday, August 29, 1928 Aiiiusemeiit Stocks on Up Trend With Warners' 2 Sensational; Fox, Par and Others hi on Rise - Sight and souna clcvolopinent in pictures , continued tp dominate . trddin^: in the shares of film com- panies. WJirner Bros/ two issues, both now on the Big . Board, sky rocketed in wild dealings to 97>/4 for the "A" stock and slightly under for the common. At th^ same tirhe Warner notes in the Curb bond de- partment moved up to the startling altitude of 170. Top for the notes came out with :the announcement of the terms of the October ,redemption; Bonds will be taken up iat face and in- terest plus a bonus of 7% shares of common stock for each $1,000 unit. At' yesterday's price of ,95 for the coiihmon this puts a parity on the 1100 of notes of $172. Note holders are given the option of taking a bonus of 150 in cash, this, of course, only because the original indenture calls for that proffer. Holders will naturally elect to takei the bonus in 'stock. Fox Joins Climb Outside Of the sensational move- ment in Warner, which as before set forth here is partly due to the closely held stock of the concern and the small floating supply, in- terest, was drawn . to Pox, which . moved up briskly Monday and ytss- terday to a new top on the move- mient of 89%, compared to its peak' before the early June slump Of 92. Fox hais been late In getting Into the. general market upswing or in moving along with Warner on the tal>cing lecture angle. At any time in the last two months, showmen-^traders believe. Fox could have been maneuvered Into si climb ahead, of Warnei*. The delay is, believed to be part of :a deliberate campaign to hold the . Fox stock back at any cost until it had been carefully distributed Into strong investment '. hands. One story In circulation is that a Wall street operator held an option on a considerable block of Fox and when he came to renew it the owner re- fused' an extension, t he situation surrounding Fox at thf^ltthie mak- ing the stock look so good to the holder that he determined to play the long puU himself. ■ ' In connection with the Warner move' , there were Innumerable ru- mors, all of which aire denied by the interested parties. One was that picture men yrere seeking to bujc control of Warners in open ■ market purchases of stbck. On the face of it this is absurd. It is well known that the stock is sO. closely held that any effort,^!© accumulate a large block mighr speedily run the Issue Into an actual corner. As a matter of fact,, many believe Par Turns Ouiet . ; Paramount was among the first Summary for week ending August 25: STOCK EXCHANGE of the amusements to get into mo- tion, on the sudden turn to the bull side two weeks ago, and continued to move up until the middle of last week, when it touched 141. Since then it has been what they call ■"resting," around 138-140, while the ticker community gets used ip the new level. Substantial houses still regard it ias of investment caliber and at the new price it should enjoy valuable public support. . Pathe went into one of those flights yesterday that have becomie periodic. Closing Monday at 24 and a fraction, it suddenly spurted in the second hour yesterday above 27 for the senior stock. Nothing to ex- plain the sudden activity, since none of the other ."Keith" issues did any- thing, and the Pathe common was quiet and unchanged at 6% to 6%. Keith common- came .oiit but slightly higher at 20%, . while Keith -7 'per cent, preferred eased 2 points tO 78 on one. transaction. Probably the Pathe flurry was another gesture to keep the group before the specula- tor element. Shubert was perked up; and got to 621/4. yesterday on fairly large turnover; probably inspired, buying designed to take advantage of the start of the new theatrical season, with possibilities of gaining more distribution. Shubert bonds were quiet and unchan^ied close to their newly established lowj below 90, Loew Creeping Up Loew went Its way almost,unno- ticed. So quietly has this stock been managed that it reached hew highs on the price, trend since the pay- ment of the stock dividend without the casual observer realizing its advance. Selling below 50 on going "ex" the 25 per cent, stock dividend, it was close to 58 yesterday. There has been no spectacular operation in the Issue, but it has marched forward gradually. At 58 Jt repre- sents an equivalent of 72>^ before the dividend, compared to a top at that time of 77. This computation draws attention to the fact that nearly all the theatre stocks ar'e now within striking distance of their best iEor the year, which Is also their best for all time. As to future trend, It Is generally conceded that the properties of the reawakened bull market have be- come so impressive within the last two weeks that there is little doubt but a substantial forward move ment is in store for the general list The public Is coming in in increas ingly large force, and there seems to be no reason why the amusement stocks should not be in the forefront of a big general upturn; Issue and rnlc. (2).... Do. Cclth pfci." (7) 101 113% 102'.4 101 r N'oio. HO 10ft% or) r.o 08% 88 Tnlversal pM. (8)... A'nrner Uro.s. Plct Jyo. Clns.s AI. CURB 0,000 Ctiri. Film Knt. 100 FJlm InRi). Macli...,..'.... 400 Fox, Thcnlres 30O Orlfrith, T>. "W.......... WW) T..op\v VlKhts 20O nnlvprsaJ rirtiirfs iriioi' Pres. [See note]. BONDS $4,000 Keith Op, '40 .,.'.. ;«l,000 Os. '41... ' 43.OO1) Po, ex-warvant ' 08.000 P.atho 7fl, '.'!7.,, 7.'i,000 Pnr.-Fnrn.-Tjisky fls, '47., 11,000 Phuhert (Vi ISSUES IN OTHER MARKETS All Quoted for Monday Over the Counter =^ ^=-^N ew" Var k= A (3.r.0). Quotpd In M<] and n.^Ued. .... Hoxy, Class ,,,, ITnlt do Unit do Pe yiirryt I'lKino , 'ri'fhnu'olor Philadelphia 4,:\00 Stanley Co. of America... Chicago 200 Balaban & KaU Los Angeles 66 noach, Inv. Montreal 400 FaniouH riayf.r.s OUT OF PROJECTION ROOM OfUce heads in the Para- mount building have finally seen fit to post notices on that picture company's floors stat- ing that the projection room screenings • are for buiiiness purposes and not for the pleas- ure of employees. The girls and boys have been barred from. a;ll further dem- onstrations. TRISCO OKAYS HAINEy "BAGGAGE/' $34,000 "Oh Kay," $23,000 at Grana- da—"St. Petersburg" Quits to $10,000 San Francisco, Aug. 28, (Drawing population, 750,000) Can't take It; away from the War- fleld when it comes to business. Last week the same old story, hou8e leading its nearest competitor by close to foiir grand. "Excess Bag- gage" was the attraction. Colleen Moore gave the Granada second place with a comfortable margin over its usual gross. Next in lino came the Embassy with the fourth week of "Lights of New York." "Fall of St; Petersburg," in its second, week, held Up fairly well. Estimates for Last Week Warfield—"Excess Baggage" (M- G) and F M unit (2,G72; 35-50-90). They like Haines in this burg, ever since "Brown of Harva.rd"; busi- ness Off to- a good start and main- tained It; just about $34,000. . Granada—"Oh Kay" (P N) and Publix unit (2,785; 35-50-90). Col- leen Moore has good following and fans turned out; picture well liked and receipts above average; little under $23,000. Embassy—"Lights of New York" and Vita, (W B) (1,367; 50-65-90) (4th week). No deviation from pre- ceding seven days; better than $20,- 000. St, Francis—"Fall of St. Peters- burg" and Movietone (1,375; 35-50- 65-90) (2d week). Dropped some on holdover, but gross i"egarded as satisfactory; close to $10,000. F, N. STALLED ON SOUND Flags at the New,spaper Club are at half mast this week. Jack Fran- cis, known as "the Peter Pan of Broadway,'' has loft for the coafst; He has been engaged to contribute his experiences as a police reporter to the Fox talkers. Helen Santoros, Mrs. Francis, will follow next weiek. Roy. Daniels, city editor of the Mirror, leaves this week to be man- aging ed. of the Boston Advertiser. Bebe Daniels has been going around with Tommy Hitchcock, the sasslety polo star, RussellJ.'Bird well, formerly coast chatterer for Scrlpps-Howard N. E. A., is covering pictures for the Eve- ning Telegram. One of those economy waves has hit the Evening Journal. Ten men oh the skids. "Sue, Sweet Sue" Carol passed through town this week in three hours, without giving a tumble to the local chatterers. . Al Christie, is combing Harlem for Birmingham types for Octavlus Roy Cohen yarns, Four had tests last weekr College Humor Is discontinuing Its dramatic "department to give hiorc space to pictures. George Clark, rewrite on the American, has moved to the Mirror as city ed. Eleanor Robinson, lioness among the Olyitipic. athletes,, is taking her papa around the wicked belt this week. Tomniy Meighan and Joseph M. Schienck are talking business. Charley Paddock Is reported, en- gaged to a French film star. Hettie Cattell is the Only femme on the: staff of the new Mrs. Ann Stillman rag, Panorama. Virginia Stover, of the Paris Herald, is settling down in our town for the winter. Will Do Nothing As To Stage Con struction at ISurbank. Yet 'Los Angeles, Aug. 28. Nothing Is being done oil. th? First National Burbank lot regard ing construction of sound stages. When J. P. Kennedy was here last month plans were formulated for the erection and equipment of two sound stages. Wich his with- drawal from the company it has been decided to abandon any equip ment idea. . Studio Officials say nothing will be done on the matter .until the fu- ture status of the productio.a. and operation end of the organijiation i.s. decided. Blumenstock's Original An original for Universal, "Home James,", starring Laura LaPlante has been delivered by Mort Blumen stock. It's Blumenstock's first screen play, though with any number of titling - pictures .,f 01 thc^arge, pro- ducers to his credit. _ Mort left the New York, publicity department of First National over a year ago, going to that producer's lot on the coast, He at once started titling F, N. features. Finishing about 12 within the. year Blumen stock went free lancing arid appears wholly happy over general results Woolf Prolog for "Hit" Edgar Allen Woolf has written the talker prolog for the "Hit of the Show,", with Joe E. Brown. It's an FBO picture, released a few weeks ago.. "The prolog, will be attached. In its cast will .be Leo Donnelly, James B. Carson and Billy Fay. Entire prolog outfit booked by Alf T. AVillon. TOOFS^SOUm™ Chicago, Aug. 28 Four of the .seven Loop fir.st-vun hou.sos are playing .synchronized or l.alklng features this wook. Tiio Chicago init.iatf.Ml its wiving with "Warming ITp" (I'ar); Kboso volt h.i.s "Lilac Tlmo" Mr VirUcrs, "Lights of Now York' (WJ5), and Orrihonm has "The Mid nlglit Taxi" (WI!). Chatter in New'York fectations for torturing theatre at- taches. Ho bx'ought a poodle on the end of a lead around on his calls and demanded a uniformed usher to air the liourid. Nuts on Television This Cortiand street radio bazaars are doing a rush business on tele- vision stuff for the amateurs. Vari- ous gadgets and widgets can be ac- quired for as low as one-fifty. The mechanicar fiends who have tired Of building radios are going for the television experiments. 2 Out of 3 Foreign press correspondents have been, tipped off to watch for a trag- edy in the camp of one of the lead- ing picture stars. H^r foreign ex- husband has been broadcasting threats against the damsel and lier new fiame. He Is known to be burning over a deal he got from the "girl in. this country, and to be in a potently influential spot in his own. • The news services have tipped their boys to keep both eyes on possible developments when the star and her elaborate entourage hit the husband's homeland. Falling for Futures The cousin of one of Broadway's song-writers is making the rawest proposition to the local newspaper men in an effort to crash the com- poser into the "theme-song" racket. The kid makes personal visits at the downtown city rooms and fol- lows them up with letters to the picture editors. He wants to plant the news that his cousin has writ ten a theme song for one of Pathe's forthcoming releases. "Please don't use my cousin's name," he says, tip- ping that the deal isn't cinched "but if you use this item you will be amply compensated." Four papei's have obliged. Amount of the compensation isn't yet es tablished. Dogs in the Red The ^ Staten Island dog races have gone $65,000 into the red be cause of copper interference- Women are the heaviest players on. the temperamental bow-wOws whole bu.s-loads of flicks crossin the ferry even in the rain. Gypping Chatterers The local sobbles are burning over a situation which has developed til rough the Hollywood first-comers. The east and west girls all ai'c great pals and consistent gang- hinchors. But • the coa6t element has moved into the top spot through the friendship. WJien stories are to be run or held out, the coast chatterers promise to fix with the NxiW York chatterers, and. collect. The New York sobbies have been falling for a bombardment of tclegram.s, "be .sweet to my dear friend, so and so." One of the_ stars who arrived "h e i^""rG^cen f ly t U's House Organ Tells of Sound Films Los Angeles, Aug. 28. The sales department Of Uni'^ versal issues The Gold Mine, weekly now in the middle of Its second volume. No ambitious salesman on the road can possible outsell or OuttaJk this most outspoken publi- cation; edited by Ben Grimm. The Issue of Aug. 11 is devoted to exploiting U's two sound films, "Uncle Tom" and. "The ..Man Who Laughs." •■ Referring to a showing of the first in N6\v York City for the trade, the Gold Mine sets forth that .^'Thoso hard-boiled exhibitors, many of; whom had seen the picture in its' silent form before, actually cheered at the end. They were absolutely astounded and amazed at the mighty, entertainment they wit- nessed." "Now the tremendous epic sweep of this great work becomes a tidal wave, that will swamp the world with its utter entertainment," says The Gold Mine about "The Man Who laughs." .• CHADWICK'S 2 A YEAR Through With Program Stuff—Will Have Sound for Unyvired Houses Los Angeles, Aug. 28, I. E. Chadwlck will hereafter not make more than two pictures a year. These will be specials. Chadwick is back from New York after a month's examination of the fllnfi situation and It Is his belief that the wheel has turned back to where It started with the, indepen- dents; that only the large com- panies can stand the gaff of over- head on program pictures. Chadwlck plans to develop two ideas a year; each subject to have synchronization and apparatus so it may be put on In any unwired theatre. His first picture, according to present plans, will be "Enlighten Thy Children." Some 12 years ago Chadwick. made "Enlighten Thy Daughter," a sex picture. The new' filni will be along the lines of paren- tal responsibility. Victor Voyda as Prod. Los Angeles, Aug. 28. Victor Voyda, brother of Erns:3t Vajda, playwright and scenarist, has been made associate producer on staff of B. P. Schulberg,. Para- mount's general manager on thfl west coast. Voyda, who changed the spelling of his^name to simplify its pronun-. aafibliT Joined tfie studf^^ his borther three years ago, acting as business manager for Ernest. Later he served as assistant super- visor in filming two Adolphc Men- jpu pictures. Mehjou's "His Privat© Life" is his first assignment under his neVv duties. . ti"l>ped on how" the friendship stunt was being worked to the coast girls', advan- tage. One of the sobbies gushed, "Oh, you're a dear friend of 'Te.s- .sic'!" "Yes," lisped the star, "she's doing a litde pooblicity for me." .Bet You Know Who One of the male oh.'ittorers has roccnlly topped all his previous af- Bert Ennis Titling Los Angeles, Aug. 28. Bert Ennis has completed titling 12 two-reel comedies for Artcla?.!?, featuring the "Tarzan" sorio.s, "Snub" Pollard and "Poodles" Ilan- neford. He also titled the "Tarzjin" scries for the some company. FOX BORROWING HERSHOLT Los Angeles, Aug. 28, Fox.is negotiating with Univcr.sal for Jean Ilcrsholt to play in "Our Daily----Breadv----A=delay---lias^-bt'f<n. caused by the stiff valuation ])larod on the plnyor by U. It is bc-liovod, however, th;it the deal will bo con- summated. Hoffman Directing for Columbia Los Angolc.s, Aii.i:. L'{<. Rcnand JlofCmau, fovnior indo- pendont produoor and diroctor, signed by Columbia to direct "The Stool Pigeon."