Word: million
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Dates: during 1940-1949
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There were soggy spots, he said, almost everywhere his economic advisers poked their fingers. Employment was still high (59.6 million), but unemployment was rising (to 3.8 million in June). Production was off 13% from last fall's peak. Wholesale prices had dropped 9% since last August; business profits were down 13%, and farm income was 8% under the first half...
Died. Baron Edouard de Rothschild, 81, titular head of the fourth generation of the House of Rothschild; in Paris. One of the world's wealthiest bankers (in 1935 his personal fortune was estimated at $55 million), Baron Rothschild lost his property to the Pétain government in 1940 when he and his wife fled to the U.S. (they managed to get out with $1,000,000 in jewels...
Last week, partly to get some attention for advice that they claim goes unheeded in Hollywood, a powerful group of exhibitors offered to risk at least $10 million. In Manhattan, representatives of 25 independent theater chains with some 1.500 houses organized a National Exhibitors Film Company for financing independent producers...
...month's end, the new company's initial fund of $10 million should be ready for loans to qualified producers of "A"' films. The conditions: a rotating committee of exhibitors will pass on stories, casts and budgets to make sure that they beat in tune with "the pulse of the public" as felt at the box office. Even if some studios do not need financing, they may get the company's advice free...
Just what did the exhibitors think the public really wanted? No one said. Nor did any of the exhibitors hint at what Hollywood suspected was their big $10 million motive: to get up a new supply of films against which the major studios will have to compete when they have to rent out each movie individually under federal decrees...