Show THEATER UNIT IN SOUTH SOUTHWILL SOUTHWILL WILL BE REORGANIZED NEW ORLEANS June 14 Re R-Re- Re Reorganization organization of Saenger Theaters nc of New Orleans in receivership contemplates the withdrawal o of all interest in 50 or 60 theaters operated operated oper opere with Paramount in irs North Carolina South Carolina Virginia and Texas it was learned here today Under an application filed Wed a week ago Olgo with the securities commission in Washington by the Saenger bondholders bondholders' bondholders bondholders' bond- bond holders holders' protective committee for permissIon to reorganize the bond issue of about the affiliated interests of the company not included ed In the bond issue will be dropped |