Variety (Sep 1928)

10 VARIETY P I C.T U R E S Wednesday, September 5, 1928 WARNERS STOCK LEAPS TO 118, SPRINGING TRAP ON SHORTS Stock Looks Near a Gorner^32 Listed Securities Up 78 Points on Week—Fox, Par in New High Ground for All Time On. one trade of 1,500 shares War- ner. Bros, stock crossed 100 yester- day, and then, In spite of the post- ing' of call money at 8 per cent., con- tinued straight up to 118. : : ,Talk was heatd on the inside of negotiations being actively con- ducted in behalf of Warners for the acquisition of the Stanley chain. The temperamental Stanley stock had given some evidence of something stirring last week, when it . moved up from around 40 to a top frac- tionally under 50, for a net gain on the week of more than 9. Yester- day the drive , in this issue slowed down, and it held about even close to 49. Shorts Trapped Trapped Warner shorts probably accounted for the runaway advance. Stock looks like a technical corner. Stanley interests denied merger talk.. Warner side wouldn't discuss "it. Keith stocks were fairly ac- tive and dlstmctly strong all last week in spite of vague talk about a possible realignment in its ad' ministration. Yesterday Keith was quiet at 23. Pathe was remarkably aggressive on the upside, the'bonds crossing 80 in a straight climb from below 70, and the common selling above 7. Class A was easier yester- day at 27. Fox continued In Its belated surge forward 'with coming out of favor 'able statement for the six months to June. These figures. If the gos- sip is to be believed, are merely a foretaste of what is possible in the coming year. Fox Is said to havb contracts in effect Sept. 1 from which It should realize sensational profits. Its grreatly expanded theatre holdings.are looked tp'to fit into, the organization profitably and esti- jnates are heard of a net for. the year from Sept. to Sept. of $14 a share on the listed issue. Par/8 Top at 144 Paranioiint's behavior 'was char- acteristic. It got into new high ground at 144, but instead of surg- ing right along from there, checked and ba.cked and filled for several days, always holding close to its gained ground. With, the return to the market of the public on spec- ulation Par. should enjoy a large share, of bullish attention. Experi- ence of other leading Issues that have split, indicates a keen appe- tite on the part of the public for stocks of this kind.' Outsiders are attracted by the low priced, basis of split-up high priced securities and past instances persuade them that they should do well on the new basis. Postum and Consolidated Gas are both instances of public following ; attracted to divided stocks. Loew Up Above 61 Loew continued its forward pace, opening yesterday at better than 60 and scoring a new top-on the movement "at- 61%. Old arguments in. fa-^or of a long position here for. the long pull are being brought out again. Enormous cash resources of the bonrpany (it has $10,000 put on call, for one thing) and assurance of rtew capital as needed over a long period, of years through rights pro.vided in the preferred and deb- entures, give the stock especially good prospects. History of management, partic- ularly Its freedom frdm raw manip- ulation on the ticker, give It good win valuable at this time, when at- tention is being divided with other amusement issues of more spectac- ular fluctuations. Debenture rights on the Curb, by the way, were dis- tinctly In demand, 2,500 changing hand.^ at prices above 20. Stndio Leasing Ix>fl Angeles, Sept. 4. Kack Sennett Is leasing studio space and oflQces to outside pro- ducers at his newly completed plant In Studio City. First company at the new studio Is Trem Carr, now producing features for Rayart. Carr will operate with two units. With the Metropolitan studio's first sound stage about completed, arid sound recording equipment about to be Installed, a number of indepiendent producers are , Recking reservations. Bulk of tlnie and space is already reserved fpr Christie, comedies, pri- marily responsible for building it. But-since the plant will also be available' for independent producers, arrangements to operate day and night are how being made. Mary and Doug Will Finish Pictures Together Los Angeles, Septi 4. Shooting schedules on ''Coquette,", Mary Plckford's next, and ''Man in the Iron Mask," Fairbanks' next, have been adjusted so tiiat both pictures will be finished simulta- neously the end of December. Miss Pickford. and Fairbanks will then go to St. Mauritz, Switzerland, for the winter sports. Pathe's Wire Arrives lios Angeles, Sept. 4. Pathe's sound equipment has ar- rived and final sections are being installed at the Culver City studio. Following tests by engineers now at the studio, it. Is announced the first sound pictures will be pro-, duced Sept. 10. Joe Brown in Lead Los Angeles, Sept. 4. Al Ray has left Fox to direct Belle Bennett in "Queen of Burlesque" for Tiffanl-Stahl. Joe Brown has been recalled from New York to play the lead opposite Miss Bennett. Summary for-n^eek ending Saitunlay, S«t^t. 1: STOCK EXCHANGE High. 45 20% 184% 77 110% 27 99 95 ■ 34 27H 11 144 S4 69% . 01% 100 07 9VA 79 10% 97 23% 101 113% 102V6 81% 101 04% 170 Low. 20% 23 103 40% 99% 1.1% 75% 72 22% 24% 0 111% 2 8% • M% 30% 93% 80% 22 60 12% 78 17% . % 11% 88 100% 99 50 100% • ^88 - fi694 Sales. 1,900 9,600 9.100 7-5.800 1,000 67,700 1,300 133.400 0,400 600 1.300 91,900 208,100 35,t>00 3,500 120.700 340 100.700 109,200 3.000 13,000 55 S03.0OO 200 2,600 $20,000 92.000 20.000 236,000 85,000 6,000 1,000 (2).. (8).'! . • • •. . Issue and .rate. American Seai (4)..... Gonsol. Film pfd. 2).... Eastman Kodak (8)..>< Loew (3) Do pref. 6%) Keith «i Do pref. (7) Fox Class A (4)....... . Madison Square Garden Met.-a.-M. pref. (1,80), Motion Picture Cap;... Paraniount-Fam-Lasky Pathc Exchange < Pathe Class A Shubert (0).. Stanley Universal pref. (8).... ■Warner Bros Do Cl. A CURB Balaban & K...... Con. Film Ent Educat. PIct. pref. (8).... Fox Theatres Grimth ... .• Loew- deb.- rts BONDS Keith 6'6, '40... 'Lo.!W O'd, '41 Do ei-war..... i Pathe 7'B, '37.. Par-Fam-Lasky 6's, 47.... -Shubert 6's—. ..... .......... Warner Bros. 6%'s, '28 I • • • • • 77% 15% 85 30% 2 20 90 ll.H 101% 80% 100% 80% 170 73 12% 70 20% 2 10% 88 108% 100% 72 J>9% 89 . 170 77 14% 86 80% 2 20 89%. 113 101% 79% 100 80% 170- Net Chge. +1 , + % + % +3% -1-1 +3% +1% -f7% •+■ % -h5 +1% ,+1% + % 4-9% +2% -f4% +2>/k -f3% -fl% -f6 +3% + % -f4% -f % •f7% + % Montreal Is Climbing; $14,500 for Garbo . Montreal, Sept. 4. (Drawing Population, 600,000) ' Weather: Fair and Cool Followln^^ the previous week's nose-dive, main stem houses picked up considerably. Capitol jumped a couple of thousand to $14,500, and Loew's was up about the samo total. Greta Garbo did it .at the former house In "Mysterious Lady," and Charlie Murray handed the fans what they wanted in "The Head Man." Hot spell lot up and there was a fair amount of rain at nights which helped- Imperial continiies to pull, them In with Its all vaude show and the S.tEajULd=.IPJul«>,a, H wjth "Walk- ing Back." NeIghborfid6(rHduses~re^ port a better week again. Estimates for Last Week Capitol (FP) .(2,700; 40-60)— "Mysteriou.g X.ady" (M-G). Greta Garbo g'ot them; turned them away at start of week, but fell off later; Jumped $2,000 to $14,500. Loew's (FP) (3,200; 45-75), Vaud- fllm. "The Head Man" .(FN). Made hit with the fans and helped by short of Olympics. Vaude much Improved and up to $13,500. Strand (U. A.) (800; 80-40)— "Modern Mothers"' (Col); "Buck Privates" (U); "Second to None" (British), an.d "Walking Back" (Pathe). Latter brought in crowds and boosted gross to excellent $4,000. : , . Imperial (Keith) (1,900; 35r$l.)— Not out of ordinary bill, but marked by first apperance here of Watson and Cohan, Jewish comedians, who made decided hit: $12,000. , F. N. GETS "MIEACIiE" Long pending litigation over Uie film rights to "The Miracle" has resulted In a. settlement out of court with First National to do it. F. N. purchased these rights from A. H. Woods while M-G-M claimed them on a deal with Joseph Men- chen, of Berlin, active in the orlg- "irra J="Rel nh ard t=prod u ctio n -abroad r-= King Signs Cliff Holland Los Angolcs, Sept. 4. Henry King is extending opera- tions for signing screen players under long term per.sonal contracts. Hia latest is Cliff Holland whom he has signed to a five year contract. He will give Hollanjd the male lead in "She Goes to War," opposite KIcahor Boardman, for ln.«'piration. NEW 'TONE TEUCKS LiOS Angeles, Sept. 4. New consignment of Fox-Ca.5e Movietone trucks has arrived liere and they are double the size of the originals. New" trucks accommodate elbow space for the operator to work the various Instruments. On the old "type- the operator was required to sit on the curb with ear phones. Remodeling Old Goldwyn Building Lios Angeles, Sept. 4. Pathe ls«remodeling^ and redeco- rating the old Sam Goldwyn' ad- ministration building for its sound department. Building contains about 10 offices and will house the administration forces. Atmosphere Los Angeles, Sept. 4. A production supervisor on one of the lotsr priding him- self on meticulous Attention to detail, was making a picture with a Russian background. He : decided he must have a gen- uine Russian saddle for na- tive atmosphere. Unable to find a saddle In Hollywood, the property department reported back to the producer aiid he Immediately coinmanded "send to Russia for It." ■ This was done, and the saddle arrived stamped "made In the U: S. A." SCHLANK QUITS AT 500 Has Produced That Many Pictures in 17 Years—Started In 1911 Los Angeles, Sept. 4. , Morris R. Schlank has quit as a wholesale producer and distributor of pictures. He has just finished his 40th of the year and approxi- mately his 500th. In 17 years. Schlank's first pictures were made in St. Louis in. i9il under the Atlas brand. ■ , For a while he operated under the name of Columbia, changing to Anchor iFilms eight years ago. . His orgoalzation always has been a ohe-mari affair. He was one of the first to Institute dis- tribution exchanges direct from a Hollyvyobd office. Schlank says, he may now make one or two pictures a year. Filial film was "Riley of the Rainbow Di- vision," directed by Bobby Ray. Burbank Dark Six Pays Los Angeles, Sept. 4. For the first day since the for- mal opening of Burbank not a wheel turned in the F. N. generating plant Aug. 27, nor on any of the five suc- ceeding days. No sinister signlfl- cance attaches, to the statement, however. Three companies are on location and no ne'w pictures were started during the :week. . . Arnold Back to Goldwyn Los Angeles, Sept. 4. Hank Arnold takes back his job as Sam Goldwyn's press agent here. Barrett Keisling, who succeeded Him with Goldwyn, returns to Cecil B. DeMllle. " . Arnold has been with M-G-M. HAINES' EEISSUES Lois Angeles, Sept. 4. Columbia will reissue three pic- tures in which William Haines was featured. These pictures were all made during the past three years. They are the "Midnight Express," "A Fool and His money," and 'T^he Thrill Hunter." GENE DENNIS "THE KANSAS WONDER GIRL" Who overcomes heat and bad woatluu' conditions by taking houses out of the "red" during the hottest part oC the summer in Florida. She even did the trick in Miami -wiliioh is not -a "red hot" show town in the summer time. All .her dates have been pl.nyefl in Publix hou.ses. She draws them In aplenty at the speeial morning matinees for wonien only. Sept, S to B, Augu.ita, Ga.; Sept. 6-8, Columbuia, Ga. Direction WM. MORRIS AGENCY Pathe and FBO Increase Programs for New Season ; Los Angeles, Sept. 4. FBO's '29-'30 program of Gold Bond Specials has been Increased to 48 pictures, 18 more than on the current year's program. This is In addition to the u.suar amount of westerns. Pathe wilt probably, pror- duce 30 pictures during the coming year including two or three $500,000 . specials. All picture planned for the new program by' FBO and Pathe will ontain sound and talking sequences and all pictures now In the cutting rooms to be completed oh the '28-*29 program will have sound and dialog added as soon as recording equip- ment Is Installed. William Le Baron, .head of pro- duction at both plants, Is looking for two stories to rhdke 100 per cent tallkers, one to be released by FBO and the. other by Pathe. Lismah's Foreign Pick Opposite Clara in ^'Kid** . . Los Angeles, Sept. 4. Frederick Sands; a ne-wcomer t<» the Paramount studio, has been cast opposite Clara Bow In "The Satur- day Night kid." . Sand's is the result of 16 weeks' search by Robert' Lisman in. Spa.in, Italy, Sweden, Czecho-Slovakia, Hungary, Germany and Poland, working In co-operation 'with Para- mount exchanges. In Paris Jesse iifisky an^. Al Kaufman spent, spent two days looking at the tests of can- didates Lisman picked. Glazer's Voluntary Move Los Angeles, Sept. 4. Benjamin Glazer, director general of sound for First National and appointed by Joseph P. 'Kennedy, has moved his .belongings off the Burbank lot. . Glazer, under personal contract to Kennedy, Is reported to have felt he did. not. want to embarrass Al Rockett, general studio head of F. N., following the withdrawal 'of Kennedy. He has gone to the Pathe headquarters In Culver . City pend- ing further Instructions, from Kennedy. ti. P. White, superintendent of production, sent over from FBO to F. N. by Kennedy, is again back oTi the former lot. McDehnottV Dialog John McDermott, scenario writer, is in New Tork to niake diistrlbu- tion arrangements and to cast for a talking feature he plans to make independently at the Christie studio in Hollywood. McDermott has been ivlth the scenario department of Paramount for some time. It is the first reported . instance of a talking picture being projected for the open market by an Inde- pendent. FUETHMAN ON U FEATTJEE Los Angeles, Sept. 4. Charles' Furthman, scenarist with Paramount for two years, leaves to write the screen treatment of "Broadway" for Universal as well as be the editorial supervisor of the production. Up to three years ago Furthman was assistant to Ray Schrock, gen-, eriar manager for Universal. POX'S NEW COSTUME HEAD Los Angeles, Sept. 4, Harry Collins, New Tork modiste, formerly heading the Fox costume department, has been relieved of these, duties. He is now functioning as a member of the staff of this department. A new head is to be named thla week. Colored Actor Featured Rosebud Pictures Corp. has made "Absent" which features Clarence Brooks, colored actor. James Smith has been appointed eastern representative, for the Rose- bud, firm. ^ Walsh Acting Again Los Angeles, Sept. 4. - -Ra.QUl lV al.sh, fihn director. wiH turn actor again when~he Be^Iiv^^ work on "A Caballero's Way," an O. Henry story for Fox' Fan mail did it. Mizner Back to Par Los Angeles, Sept. 4, Wil.son Mizner leaves Fox upon the expiration of his contract Sept. 15. It is understood he will rejoin raranionnt.