Boxoffice-May.03.1952

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New Law to Govern
20th-Fox Splilup
NEW YORK— Instead of organizing two
new companies, one for distribution and the
other for exhibition. 20th Century-Fox will
probably continue the present company and
organize a new theatre company to be called
National Theatres, Inc.
When the stockholders approved a plan of
reorganization on Oct. 4, 1951. to comply with
the antitrust decree, two new companies were
contemplated, but there was a provision in
the resolution authorizing the officers and
directors to amend the reorganization plan
to provide for one new company in case the
amendments became desirable. Under the
Revenue Act of 1951, which became law Oct.
20, 1951, there is a "spin-off" section which,
the company officers hope, will make the
liquidation of the present corporation unnecessary
and permit the tax free transfer to
the stockholders on a share for share basis
of the stock of the new theatre company.
Tlie plan is detailed in the company's annual
report just issued in printed form. The
financial highlights of the annual statement
were published in BOXOPFICE March 29.
About 20 theatres have been divested. Two
were owned in fee and the others leased. Of the
remaining theatres to be divested. National
has a choice in most situations, so that "it is
impossible to say how many will consist of fee
properties and how many will be leaseholds."
The report points out that antitrust suits
pending at the end of 1951 were approximately
one-third greater than at the end
of 1950.
"In December 1951. the corporation made
an analysis of its shareholders list," the report
states. "Among the 24,592 stockholders
of record owning 2,768,800 shares, there were
11.356 men, 9,097 women and 3,089 joint accounts.
The remaining shareholders consisted
of fiduciaries, institutions, security
dealers, nominees and others.
"There were 16,870 shareholders who owned
fewer than 100 shares each for a total of 444,-
692 shares. Owners of 100 to 999 shares
totaled 7,537 and accounted for 1,127,745
shares. A total of 1,195,363 shares were owned
by 185 shareholders having 1,000 or more
shares."
The report says a brochure is being prepared
for distribution to shareholders on the
Eidophor theatre television system.
The report comments: "Your management
feels that once the Eidophor system is seen
in actual operation, its challenge will be clear
to the members of the amusement industry,
particularly the exhibitors."
20th-Fox Stockholders Get
Proxies for May 20 Meet
NEW YORK—Proxy statements have been
sent out for the annual meeting of 20th Century-Fox
stockholders scheduled for May 20
at the home office. Nominees for the board
of directors are all members of the board at
present. One, Daniel O. Hastings, lawyer, has
been a member since 1933. The nominees are:
L. Sherman Adams, Flobert L. Clarkson, Wilfred
J. Eadie, Daniel O. Hastings, Donald A.
Henderson, Robert Lehman, William C.
Michel, Seton Porter, Murray Silverstone and
Spyros P. Skouras.
Eastman First Quarter
Sales Reported Good
NEW YORK— Eiuit man Kodak Co. held
its
own very well in total sales in the first quarter
of 1952 compared with a good first quarter
in 1951, Thomas J. Hargrave, president, told
stockholders at the annual meeting Tuesday
(291 at Flemington, N. J. Preliminary con-
.solidated sales for the 1952 quarter ended
March 23 were about $119,000,000, compared
with about $120,000,000 for the corresponding
1951 period.
"With most of our major photographic lines
showing sales increases this first quarter,"
Hargrave said, "our total photographic sales
in this country were up moderately compared
with the first quarter last year. This increase
applies to both civilian and government .sales.
Over-all sales of professional motion picture
film have continued to increase.
William G. Stuber, Perley S. Wilcox, Raymond
N. Ball, Albert K. Chapman and Marion
B. Folsom were re-elected directors for three
years. Stuber is honorary chairman of the
board, Wilcox, chairman of the board: Ball,
president of Rochester Ti'ust Co.; Chapman,
Kodak vice-president and general manager,
and Folsom, Kodak treasurer.
Vistascope Device Going
To Be Available Soon
NEW YORK—Vistascope Corp. of America,
in which Paramount Pictures recently acquired
a half interest, soon will make available
to television stations and motion picture
studios a new photographic apparatus
which will permit the telecasting of filming
of live action against background settings of
still pictures.
The Vistascope, a French invention, links
with the motion picture . TV camera, and
makes available as a "set" any structure,
group of structures or natural formation
which can be photographed in stills. It can
be used for color as well as black and white.
Facilities for mai'keting and servicing of
the equipment are to be set up. These will
be made available on a royalty basis to all
comers, both for motion picture and TV studios.
It is expected to be a big money-saver.
RCA Booklet Explains UHF
To the General Public
NEW YORK—The Radio Corp. of America
information department has published a 24-
page booklet titled "UHF—what it means to
television and to you" which explains for the
layman the meaning of ultra high frequencies
and the important role these microwaves are
destined to play in the future of television.
The UHF spectrum now authorized
provides
70 new TV channels between 470-890 megacycles,
opening the way for 1,445 new UHF
television stations and, with the very high
frequency stations, giving the U.S., its territories
and possessions room for a total of
more than 2,053 TV stations in 1,291 communities.
Zimmer Retires From Kodak
ROCHESTER, N. Y.—William H. Zimmer,
an authority on industrial suggestion systems,
has retired from Eastman Kodak Co. after
almost 41 years of service. He had been connected
with the suggestion system at Kodak
since 1915. and his record of 37 years in that
work is probably the longest in the U.S.
British Film Finance
Unit Shows a Profit
LONDON—For the first time since its organization
in 1949, the National Film Finance
Corp. has showed a profit. Its report for the
year ended March 1952 listed $10,890 on the
black side of the ledger and forecast a much
larger profit for the current year. It has
repaid 1.018,565 of the 6,243,050 pounds borrowed
from the government. Its largest advance
was 3,000,000 pounds to British Lion
Films, made in 1949. A total of 3,422,189 has
been loaned to other companies.
The report showed 177 films given financial
aid in three years, with 78 loans, the largest
number in one year, in 1951. Of the total of
177, 25 loans have been repaid and five others
are showing a profit in which NFFC shares.
James Lawrie, its head, said the Eady plan
was providing good revenue and will aid in
repayments when its full effect is felt.
William Morris Jr. Quits
As Morris Agency Head
NEW YORK—William Morris jr. has resigned
as president of the William Morris
Agency, leading theatrical, radio and TV firm,
effective July 1. He has headed the agency
since 1932, when he succeeded his father, William
Morris, who founded it in 1898.
The Morris Agency is owned by Morris jr.
and Abe Lastfogel, treasurer and director,
who will continue in the posts. Morris will
also continue as director, but will turn over
his other duties to Lastfogel, who will probably
be elected president by the agency's officers,
Mrs. William White (Ruth Morris),
first vice-president; Bert Allenberg, second
vice-president, and Nat Lefkowitz, secretary.
Leaders in 16mm Field
Hold Two-Day NY Meet
NEW YORK—Leaders in the 16mm film
field from all parts of the United States attended
sessions of the National Audio-Visual
Ass'n April 25-26 at the New Yorker hotel.
Religious, educational and entertairunent film
problems were discussed. More than 250 men
and women attended and the program included
35 speakers. The religious and educational
film dicussions were under the supervision
of Ted Morehouse, vice-president of
Young America, Inc., and W. L. Rogers, president
of the Religious Film Ass'n.
I. F. E. to Have Publicity
Bureau for U. S. in Rome
NEW YORK—Dr. Renato Gualino, managing
director of Italian Films Export, has
established an I.F.E. publicity office in Rome
to develop material appropriate for the
United States. William Murray has been
named as head of the office, with Angelo
Parmigiani as manager of the bureau of information.
Murray was formerly with the
Rome Bureau of Time Magazine.
To Skiatron Board
NEW YORK—Jack Poppele, vice-president 1
and chief engineer of station WOR-TV, was
added to the board of directors of Skiatron
Electronics & Television Corp. at its armual
meeting Wednesday (30). Arthur Levey,
:
I
j
president, said his election has a long-term
significance to pay-as-you-see telecasting.
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BOXOFFICE :: May 3, 1952