Crisis Passed

Sun (Auckland), Volume IV, Issue 956, 26 April 1930, Page 27

Crisis Passed

FOX COMPANY’S SUCCESS

Change in Control Announced

IT has been announced by cable that the Fox Film Company, * which was forced into a difficult financial position because of the recent Wall Street crash has completely regained stability. Mr. William Fox, however, has resigned his position.

The successor to the company’s founder, who remained at the reins for 25 years, is Mr. Tlarley L. Clarke, a prominent American financier. At his right hand remains Mr. Winfield Sheehan, vice-president and general manager.

The cable which recorded the passing of the company Into safe waters was as follows: “Banking arrangements completed. Adequate finances provided. Obligations paid. Litigation ended. William Fox sold his voting stock, resigned presidenty. "We proceed with enthusiasm. . , . Personally satisfied

signed b y Mr. Sheehan, who is regarded as a producer of great ability and resource. The future operations of the big screen concern will be practically his sole responsibility. Interviewed in Australia after the news was received

that outcome is complete triumph for entire motion picture industry.” This cable was

Mr. Stanley S. Crick, manager for the company in this part of the. world, said he regretted that Mr. Fox had relinquished his control. Despite the troubles through which the company had been passing its products had continued to be made and released with unvarying financial success and, now that the way was clear, future extensions were planned. The probability was that colour and grandeur film would be developed. Among the new films already under way were “The Oregon Trail,” a Raoul Walsh production employing 200,000 people in some of its giant sequences, and “Song o’ My Heart,” the big John McCormack picture. The latter had actually been released and was screening to capacity houses in New York. Another picture of particular interest was, “So This is London,” starring the well-known stage and screen comedian and humorous writer, Will Rogers. “Such Men are Dangerous,” from the pen of Elinor Glyn and starring Warner Baxter and Catherine Owen, will soon be seen. Another forthcoming release is “Men Without Women,” a submarine drama.