The news was worse than expected. Last week Britain's Cinemagnate J. Arthur Rank reported that his Odeon Theatres, Ltd. and subsidiaries had lost $9,380,000 on moviemaking in fiscal 1949. Things were so bad, said the man who has been making 50% of Britain's motion pictures, that he might be forced to stop all production after June 1950.
Most of the blame for Rank's plight was put on England's 40% entertainment tax, through which the Labor government got $25,000,000 from Rank's films alone. Said Rank: "Too much of the industry's life blood is being drained out of the box office." His...
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