BLANK PROMISES NEW THEATER(Continued from Page One.)ests in the city and then provide amodern theater that would fill the need here. The Rialto is too small to answer this need ”The purchase of the Palace theater, negotiations for which have beenpending for the past month and culminated yesterday, represents the j largest amusement transaction in the history of the city. It was reported that the deal had a money consideration of $150,000.Barnes to Manage Both.Louis Jacobs, who sold the Palace theater, has extensive holdings in California and it is believed lie will direct his attention there.Harold D Barnes, manager of the Rialto theater, has been named man- i ager of the entire Central States Theater corporation holdings in the city. He will manage both theaters now.Mr. Barnes, one of the most popu- j 'lar business men in the city, has conducted the Rialto theater in a very , successful manner and has struck a progressive note in the amusement !l ■business here. He has been active in)tcommunity enterprises and has served j as president of the Kiwanis club and the Drama League.The Palace theater will continue to show the high class pictures that have been booked there in the past. The , new Photophone has been installed j , and will open first on March 16 in an 1 i all-talking picture, “Chinatown j 1 Nights.Extensive improvements are being planned for the Palace theater, includ-j ing new carpets and new drapes. ; j It was reported that Lawrence t Blank, who has managed the Palace I ( theater for the Jacobs interests, would ‘m I ]leave for California to be connected i with Mr. Jacobs there. 1Ed Kalwiski. connected with the '1 tPalace under the Jacobs ownership. , probably will go to Clinton to become lt;connected with the theatrical field , { there, it was reported. 1 j