THEATRE LOSSES

New Zealand Herald, Volume LXX, Issue 21399, 25 January 1933, Page 5

THEATRE LOSSES

POSITION IN AUSTRALIA RECENT DIFFICULT YEARS Public companies which provide amusements have suffered severely in the depression, and the largo picture theatre companies have been compelled to reorganise their business in an endeavour to avoid losses, states the Melbourne Argus. Union Theatres, Limited, was forced into liquidation and has been reconstructed. At the instance of their bankers Greater Union Theatres and Hoyts Theatres, Limited, have formed a working arrangement to save overhead expenses in conducting business ht the city theatres controlled by the two companies. Few of tlio companies have been able to earn profits, and most of those that have avoided loss arc not operating companies but are holding and renting organisations. Accounts of six companies issued in 1932 show a total net loss of £3823, although they employed shareholders' funds amounting to £4,109,827, on which the loss represents 0.30 per cent. In the previous year tho companies lost 0.41 per cent of funds employed, so that a slight improvement in results is indicated, which may be attributed to economy. In 1930 the companies earned profits equal to a return of 3.29 per cent of funds. Following is a comparison of results of the six companies in tho last three

, SYDNEY'S NEW TRAMS BIG BUILDING CONTRACT § WORK FOR 500 MORE MEN Tho Clyde Engineering Company, of Granville, Sydney, have just added 500 men to their staff. This is a direct result of a letting of the contract for 200 new trams to this concern. Tho labour employed will include coachbuilders, smiths, machinists, fitters and upholsterers. The first of the new trams will be delivered in six months, and the remainder at tho rata of two a week. It will take over two years to complete tho contract. The total contracts for the cars, bogeys and other gear will exceed £300,000, and the whole of the material Mill be obtained in Australia.

THE LONDON MARKETS

QUOTATIONS FOR METALS • TIN FIRMER AGAIN (Received January 24, 8.45 p.m.) LONDON, Jan. 23 Following are to-day'e quotations on the London metal market compared with those of January 19;—

Jan.23 Jan. 19 Per ton Per ton £ed £ e d Copper, etan., epot . 27 16 105 28 3 9 Copper, stan , 3 mos. 28 1 1(H 28 9 41 "Copper, electrolytic 33 0 0 33 0 0 to to 33 10 0 33 10 0 Copper, elec., wire bars ' . . a • 33 10 0 33 10 0 Lead, soft, spot . . 10 10 0 10 5 0 Leiid, soft, forward . 10 17 6 10 15 0 ■Spelter, spot . . 14 6 3 * 14 S 9 Spelter, forward . . 14 10 0 14 12 6 Tin, Stan., spot .. 145 12 ff 144 7 B Tin. stan.,-3 mos. .. 146 3 9 145 2 6 "American 5 cents a lb., earne as on January 18.

TIN IN NEW YORK (Received January 24, G. 5 p.m.) NEW YORK, Jan. 23 Tin '(standard), January delivery, is quoted to-day at 22.10 cents a lb., compared with 21.75 cents on January 18. GOLD AND SILVER QUOTATIONS IN LONDON (Received January 24. 6.5 p.m.) LONDON, Jan'. 23 Gold is quoted to-day at £6 2s 7d an ounce, compared with £6 2s 6d on Saturday. Silver is quoted at 16 15-16 d an ounce spot and 17d forward, compared with 16 7-8 d and 16 15-16 d on Saturday. The quotation for silver at per standard 07.. is 16 15-16 d and at per fine oz. 18|d, same as on January 19. SYDNEY EXCHANGE COMPANY DIVIDEND OF 8 PER CENT The accounts of the Sydney Exchange for the half-year ended December 31 show net profits amounting to £2084, compared with a profit of £1402 in the previous half-year. The rate of dividend is 8 per cent per annum,- requiring £I2OO, and after placing £IOOO to reserves there is £1606 to be carried forward. The capital of the company is £30,000, and it has reserves of £28,500. Its chief asset is the Royal Exchango Building, valued at £55,000. PREMIUM ON DIVIDEND UNiON BANK PAYMENT Payment of the interim dividend of 2" per cent, freo of tax, for the half-year onded August 31, will bo made by the \Union Batik of Australia, Limited, today. The dividend is payable at branches of the bank at the new high rate of exchange for demand drafts on London. This makes the declared dividend of 2s a share, English currency, equal to 2s 5.7 d a share in New Zealand currency, or 24s 9d for each £1 of English money. At the provious rate of exchange tlio dividend would have been 2s 2d a share in New Zealand currency, or 21s 8d for each £1 of English money. AUSTRALIAN FILMS NEW COMPANY REGISTERED The production of Australian moving and talking films is the'principal object of Emu Films, Limited, a new company registered in Sydney, with a capital of £50,000. Mr. Samuel Pond, the chairman of directors of the new company, said that • it was proposed to.take full advantage of the beautiful outdoor scenery of Australia and to produce films that would be acceptable 'to the Australian public and to | people abroad*

years: — Profit Profit Profit -1930 1931 1932 £ £ X Amal. Pictures . . 21,480 2,428 1,240 Hoyls Pictures . . 80,800 4,341 *11,039 Luna Park . 7,557 *152 2,448 Carroll Musgrove Theatres . 15,096 6,492 8,688 J. C. Williamson, Ltd *18,503 *32,931 *4,759 Greater J. D. Williams 2S,}45 2,658 *401 134,575 *17,164 *3,823 indicates loss.