Lot 239
Important & Rare Liberty Films Contract Signed by Frank Capra, William Wyler & George Stevens "It's A Wonderful Life". Liberty Films was a production company initially founded by Frank Capra and Samuel J. Briskin in late 1944. While not the household name that Frank Capra was, Briskin was a very well regarded producer and industry leader, as well as a close friend of Capra's. The production company was initially called Capra-Briskin, and while Capra was still on active duty he set up offices and hired personnel. After the war he incorporated the name Liberty Films, certainly reflective of their patriotism in April of 1945. In July, they persuaded top tier director William Wyler to join and become a partner and by year's end, another great, George Stevens joined. The powerhouse director/producer foursome generated a considerable amount of attention in the industry given the several millions of dollars in capitalization for which the four owners were individually and collectively responsible. The expectations were enormous for these talented industry titans as they set about distribution deals with RKO and others and announced future productions.
In November of 1945, the company announced that their first film would be IT'S A WONDERFUL LIFE starring James Stewart and Donna Reed, directed and produced by Frank Capra. It was released in December, 1946 and as most fans know, was a failure at the boxoffice and could not recoup the 2.3 million in cost. In light of this distress the partners signed and agreed to this contract.
February 3, 1947
Liberty Films Inc.
Dear Sirs,
In view of the corporation's present need for working capital, and in consideration of the mutual agreements of the four of us, we each agree that we will draw only One Thousand Dollars ($1000.00) per week of our respective contract compensations for the period between January 27, 1947 and July 26, 1947 and that the accrued balance of our salaries for that period shall be paid to us respectively on August 14, 1947,
Very Truly Yours (signed) Samuel J. Briskin, Frank Capra, George Stevens, William Wyler. Approved and Accepted, Liberty Films, Inc. by (signed again) Frank Capra.
The partners sought a major studio to buy Liberty Films before foreclosure which they found in Paramount Studios. All were given generous shares of Paramount stock, with all three directors earning several picture deals, many of the resulting films very well regarded, including A Place In The Sun, The Heiress and two Bing Crosby hits for Capra.
An historic document reflective of only a handful of other attempts at film productions by talent independent of established studios, such as the founding of United Artists in 1919 (Chaplin, Pickford, Fairbanks Sr., Griffith) or in the 1990s DreamWorks Films (Spielberg, Katzenberg, Geffen) Contract is framed and presented along with a copy of the cover of the 12/30/1946 Newsweek "The Return of Jimmy Stewart" a trade announcement "Now In Production IT'S A WONDERFUL LIFE" and a black and white reduction of the famous theater poster.
Estimate Value $7,500 - UP
From the estate of Frank Capra; comes with COA from Tom Capra.
|
| |
| Unsold |
