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For months the movie industry had buzzed with rumors that Cinemagnate Louis B. Mayer, creator of the star system and one of Hollywood's production giants, was getting ready to resign from the studio he had helped to found 27 years ago. It was no secret that Production Boss Dore Schary's cost-cutting regime was just what the big brass at Loew's, Inc. (MGM's parent company) wanted, that Mayer was becoming a stranger in his own house. Last week the Hollywood Reporter's Bill Feeder tried an old newsman's stunt. He telephoned Mayer to express his concern over the expected departure and Mayer admitted that he was thinking of a change.

Said Mayer: "I am going to be more active in picture-making than I have been at any time in the past 15 years--but it will be at a studio and under conditions where I shall have the right to make the right kind of pictures--decent, wholesome pictures for Americans."

This week, with no indication of where he was heading next--or when--Louis B. Mayer made his resignation official. Hollywood, which had long since circled June 30 on its calendar--the day Mayer's annual option comes up--settled back to wait for a few more details.

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