New-York tribune., 1919-11-30
Retailing Movie
Entertainment Now
ACiant Industry
Receipts of Vaudeville and
Picture Houses This Year
Will Exceed a Billion,
According to Estimate

Having emerged from the "wildcat'
staee. the business Of retailing vaude-
Vile and motion picture entertainment
20 Americans after hours will yield
more than s1,0OO.OOo,0oo in gross re-
ceipts in 1919, compared with SI5o,ooo.-
OO9 last year, according TO Is. >. Moss'
owner of n chain Of ncighborhood thea-
ters in New York.
Prohibition, tho shorter workng
dav, and after the war tastes OF tne
people are contributing to make this
calendar year not only record, breaker
for the movies. but also for the thea
ters in which spoken drama is pre-
sented. Although critics disagree as
to the state of the art. those IN cnarge
of the tills have no doubt Of the sue
cess Of the business.
Wall Street and the Movies
Roth in its wholesale and retail side
the movie industry has begun to look
TO the financial markets for funds, ana
the whole industry is tending to con-
centrate and merge. Captains OF the
movio factories assert that the en-
trance of the Famous Plycrs-Lasky
CORPORATION and Of the Loew Enter.
prises into Wall Street in quest OF
funds in amounts that seemed sizable
even TO the great international bankers
marks only q beginning and prcdict
further that, now that the FUNDS OF the
investing public are flowing into the
Golfers Of the mtvie treasures under
the auspices of leading bankers, the
business side OF the motion picture
corporations will in the next three
wears be made more efficient and VIII
be elevated to the standards obtaining
in older and more scientifically con-
Quoted industries.
Housing Shortage for Picture Fans
Owners Of motion picture theaters,
of which there are now some lI.OoO IN
these United States. verify the observa-
tion Of plain movie patrons, VINO are
regularly forced to wait patiently IN
line in order to gain admission to the
temples of the cinema, regarding the
shortage Of houses. Despite the hlgn
cost OF construction great period OF
building o. high-grade motion picture
theaters is now going on, and many
times those now building are already
planned and will be started as soon az
either prices fall or enterprises be-
come convinced that the price level
has become stabilized. There is great
demand for existing theaters.
Mr.. Moss, who believes the movie
business has become stabilized and de-
serves consideration Of investors. said
that the average earnings Of the mo-
tion picture theaters viii be 10 per
cent Of their annual gross receipts tn
year and 25 per cant OF present capital
ization. He asserted that in its cvolu-
ton from the rickolodcum OF decade
ago to the Capitol Iheater the Industry
had emerged from the period Of eNces-
sive risks, and called attention TO the
small number of foreclosures 0 mort
cages on thcaters. He said trat the
chain system Of thcaters WAS based on
the pyramidrg OF profits. The builder
Of the large motion picture thcater, he
said, makes practice Of putting enough
stores and Offices in the front TO pay
carrying charges for the entire build
ing.
In the movement OF the Industry
toward stability, a development OF the
future is likely to be the selling Of
long time possibly twenty years
franchises by producing companies to
theater owners rs the normal proce-
dure. instead Of yearly contracts, as at
present, observers feel