VALUATIONS REDUCED

Sun (Auckland), Volume III, Issue 622, 26 March 1929, Page 15

VALUATIONS REDUCED

SMALL THEATRE DIFFICULTIES

“GOING DOWN HILL” A pessimistic note w ith regard to the .future of small picture theatres was i struck at the sitting of the Auckland I Valuation Assessment Court yesterday. 1 Among the objectors to this year s i valuations was the Grand Theatre. Ltd., | in respect to their theatre, tea rooms [•and two shop properties. The theatre hand tea rooms had been assessed at £I.OOO, and the shops at £ 400 and ,£ 360. Air. F. T. Eyre, secretary for the •company, said the assessments were •’A"* per cent, above the valuation of two >«t‘ars ago. In 1914 the theatre had bjfien in a leading position in Queen but unfortunately it was now oitn the downward path. Dividends had b'’*'n paid on only two occasions since He stated that the advent of “t.eikie” films probably would force numy small theatres out of business, as si hey could not afford to install the necessary apparatus. The company was* paying a rent of .£l4 a w eek, and rate**- hi addition brought the rent up to 4.120 a week. Title chairman. Mr. E. C\ Cutten, S.M.. said sthey had him a little puzzled, but he thought there was a good case, and he raiuced the valuations to £825, and £320 respectively.