NEW FILM ORGANISATION

Chronicle (Levin), 9 July 1946, Page 5

NEW FILM ORGANISATION

-Press Association

Bv Telegravh-

AUCKLAND, July S. A new flint compnny to control the Doininion interests of Air. J. Arthur Kank, British picture magnate, has Deen fornicJ in Auckland with a registered capital of £800,000. It is Odeon Holdings (Xew Zealand) Ltd. and is ihe organisation which will control the Rank group 's half interest in Iverridge fheatres Ltd. Although the capital of .he new company is £800,000, this does not represent the amount paid by the Rank group for a half share in the Iverridge chain of theatres. The capital .is.diyided into 800,000 -shares of £1 aheh, of which 799,998 are held by Jyerse,as Cinematograph Theatres Ltd'., Which is ihe orgahiSatibh set up in Lbndon by Air. Rank to handle all overseas theatrical interests for his studios. fhe two remaining shares are held by Jlr. X. L. Alacky, solicitor, of Alission Bay, Auckland, and Air. H. V. Cameron, public accountant, of Remuera. The directors of the new company will be Mr. Rank and Air. John H. Davis, who are botli directors of Odeon Theatres .Ad., England, and associated eompanies, Air. Alacky and Air. Cameron. The deal between Iverridge Theatres Ltd. and the Rank organisation was completed in England last March when Mr. R. J. Kerridge, nianaging direetor of the Xew Zealand company, was in England. The partnership covers the running and development of nearly 140 theatres in Xew Zealand contr.olled by Kerridge Theatres. The new organisation is expected to tnerease the number of British filins shown in the Doininion and to speed up their release.