SCHEME TO SOLVE DOLLAR PROBLEM

Chronicle (Levin), 5 September 1947, Page 3

SCHEME TO SOLVE DOLLAR PROBLEM

WELLINGTON, Scpl. 4. The deceiitnilisation of Amerieau molioii picture production which would tnean the likely production of Amerieau fihns in New Zealand and other Dominions, is the logical solution of the dollar problem. This is the opinion of NI r. R. J. Kerridge, managing director of the Kerridge Odeon Corporation, who is at present in Wellington. NI r. Kerridge corisiders that the existing Empire shortage of dollar credii is 110 transitory ail'liction — that anv means taken to allcviate it uiust uecessarily be of long-term formula. The deeent ralisation of the Anierican industry generally, he said, would alford niutual relief. By such means would Amerieau conipanies be enabled to make use of sterling pavments foi the sale of their products in Empire countries. He thought the British delegation at present in Washington would agree to a selieme along these lines in regard to Amerieau films. The proposed iucreases in Ihe filin nire tax would make the sereening of Amerieau iihns au ecoiiomic impossibiiitv throughout the Empire. Britisli iilm studios, on the. other hand, wou'd be quite unable to step up their production rate to meet the Empire demand. Their production facilitics were mucli the sune as tliey were before the wai' but in the interim there had been buiit up a standard of British picture that would be jeopardised by any attempt at heavilv increased output.