U.S. cinemoguls have recently pooh-poohed talk of Hollywood's depression (TIME, Dec. 27), and are pointing out instead how well dividends and box-office returns have been holding up. British film bigwigs like J. Arthur Rank and Sir Alexander Korda are also trying to make light of their economic ills, but it has become uncomfortably plain that a major crisis is gripping the industry that turned out such thriving exports as Hamlet and The Red Shoes.
Of England's 26 studios, only nine were shooting films last week. Private financing had tightened up, even for Korda and Rank. At least 1,000 employees had been laid...
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