<P> Laemmle, Jr. created a niche for the studio, beginning a series of horror films which extended into the 1940s, affectionately dubbed Universal Horror . Among them are Dracula (1931), Frankenstein (1931), The Mummy (1932) and The Invisible Man (1933). Other Laemmle productions of this period include Imitation of Life (1934) and My Man Godfrey (1936). </P> <P> Universal's forays into high - quality production spelled the end of the Laemmle era at the studio . Taking on the task of modernizing and upgrading a film conglomerate in the depths of the depression was risky, and for a time Universal slipped into receivership . The theater chain was scrapped, but Carl, Jr. held fast to distribution, studio and production operations . </P> <P> The end for the Laemmles came with a lavish version of Show Boat (1936), a remake of its earlier 1929 part - talkie production, and produced as a high - quality, big - budget film rather than as a B - picture . The new film featured several stars from the Broadway stage version, which began production in late 1935, and unlike the 1929 film was based on the Broadway musical rather than the novel . Carl, Jr.'s spending habits alarmed company stockholders . They would not allow production to start on Show Boat unless the Laemmles obtained a loan . Universal was forced to seek a $750,000 production loan from the Standard Capital Corporation, pledging the Laemmle family's controlling interest in Universal as collateral . It was the first time Universal had borrowed money for a production in its 26 - year history . The production went $300,000 over budget; Standard called in the loan, cash - strapped Universal could not pay, Standard foreclosed and seized control of the studio on April 2, 1936 . </P> <P> Although Universal's 1936 Show Boat (released a little over a month later) became a critical and financial success, it was not enough to save the Laemmles' involvement with the studio . They were unceremoniously removed from the company they had founded . Because the Laemmles personally oversaw production, Show Boat was released (despite the takeover) with Carl Laemmle and Carl Laemmle Jr.'s names on the credits and in the advertising campaign of the film . Standard Capital's J. Cheever Cowdin had taken over as president and chairman of the board of directors, and instituted severe cuts in production budgets . Gone were the big ambitions, and though Universal had a few big names under contract, those it had been cultivating, like William Wyler and Margaret Sullavan, left . </P>

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