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. UNIVERSAL 'FILMS, LTD.
The prospectus of the above company Is published elsewhere. The company has al- ready been registered, and is to liavo a no- minal capital of _65,000 in shares of ¡C1 each, of which 25,000 aro being offered to tho pub- lic, 3500 (plus £7000 in cash) to tho Ameri- can-Australasian Film Service, Ltd., In pay- ment for their business, contracts, etc., 7000 to the Australian Life Biograph Co., Ltd., for its businoBs, inoluding freeholds, 6000 to Mr. J. S. Mccullagh for his sorvlces as manager, and the benefits of his American and Con- tinental contracts; while 23,500 will bo held in reservo. No estimates of the value of the
assets ¿akon over is given in the prospectus, but the promoters state that the Alms alono of tho first-named r-ompany cost £13,000. while the assets of the Biograph Co. consist of a froehold thoatro at Manly, fts well as a largo number of positives and negatives. Tho object of the company 1b to purchase, sell, and rent films and maohfncs of European and American manufacture-), and to Itself manufacture Australian films. Tho promot- ers state that they aro able to release Ameri- can films 0 or 8 weeks ahead of any othor film exchange In Australia, this, owing to Mi*. MrCullagh's favourable American "contracts. An ostlmato of profits Ib appdiiäotl, "which, if fulflllod, would give a large return to tho investor. Sir Albort Gould, Dr. Caleb Torry, Justin Mcsweeney, and A. J. Metcalfo are the provisional di rectors, and tho 15,000 shares "have boen underwritten.