Word: loew
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...which pictures of gangland portrayed the heroism and sterling tendency, according to the previews has been to depict the realities of the underworld. "The Secret Six", now playing at Loew's State follows the latter rule. The purpose of this production is to prove that the old adage that there is honor among thieves is all wrong...
Film Securities Corp, A new company was formed last week, christened Film Securities Corp. From Fox Film it took the 660,900 shares of Loew's which Cineman Fox bought in 1929. In return, it gave Fox $28,800,000 cash, also nine-tenths of its common stock. The common stock, however, was divided into voting and non-voting classes, and that which Fox received may not vote for Film Securities' directors. The other one-tenth went to the Chase-headed syndicate which underwrote the $30,000,000 worth of Film Securities notes and preferred stock. Thus...
...stock instead of being strong on the announcement of the party dropped from $33 to a new low of $24¼. Searching for reasons for these two developments, Wall Street decided that perhaps a prime cause lay in the fact that Fox's big holdings in Loew's, previously considered a rich plum, henceforth are no longer strictly...
...week. But there may have been other reasons why O. P. M. was not forthcoming at once for the $30,000,000 Film Securities Co. issues and a $15,000.000 bond issue of a Fox subsidiary which the bankers also bought last week. Fox Film has always carried its Loew's investment at the price which Mr. Fox paid. Yet the market is now less than half that price, and if Fox were to rewrite its Loew's investment down to market, its $5,000,000 surplus would become a $35,000,000 deficit. Another factor which made...
Essence. Thus the ghost-laying party was expensive to both the company and its bankers. The company has surrendered one-tenth of its equity in Loew's, also sole voting power for its Loew's stock. The bankers have apparently temporarily invested $45,000,000 in the Fox structure, although they are expected to sell these holdings to the public later. Yet Wall Street last week was inclined to view the whole affair as masterful handling of a tremendous problem. Men shuddered to think of what would have happened to the stock and bond markets had Fox defaulted...