Mad Monster Party?

Dr. Frankenstein (Boris Karloff) wants to retire from the monster-making business. He decides to call on all of the members of the Worldwide Organization Of Monsters to come to the unveiling of a new creation, a potion that can destroy all matter. In front of his guests Frankenstein announces that he is retiring. Frankenstein tells his guests that he has selected his nephew Felix to take over for him as the new leader. After Frankenstein makes his announcement there is chaos among the members of the organization as each one tries to make a bid to take over as leader.