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Three local companies will produce four moving- pictures in New South Wales under a Government guaran- tee of 60 per cent, of the total cost.
The amount of thc guarantee will be approximately £52,000.
The companies concerned, which will themselves finance 40 per cent, of the cost, are Cinesound Features, Ltd., Argosy Films, Ltd., and Famous Feature Films, Ltd.
The Premier, Mr. Mair, said last night that, early in 1Ö39, the three companion had applied for Government guarantees under section 13a of the Cinematograph Films Act, which waa passed at the end of 1938. The Theatres and Films Commission had recommended that the accounts of the three companies should be guaranteed to the extent of CO per cent, of the cost of producing each film, on condition that the overdraft account should bc repMd from the proceeds of thc exhibition of the pictures in priority to nny other interests.
Tills recommendation had been approved last week, and the guarantees would be given to the bank in exchange for the securities re- commended by the Commission.
Mr. Mair added that the films would be produced at the Cinesound Studios at Waverley, the National Studios at Pagewood, and the Figtree Studios at Lane Cove.