MILLIONS IN CINEMAS.

Taranaki Daily News, 31 January 1920, Page 9

MILLIONS IN CINEMAS.

There is an unprecedented boom in the cinema business (says the London Evening Standard). Money is being poured into it, hundreds of new theatres are planned, and vast schemes are being rapidly completed for the production of films in England. Every branch of the trade is thinking in millions, and big deals are of common occurrence.

A cheque for nearly a quarter of a millions pounds was tendered at Sunderland for seven picture theatres in the T'neside district. The deal was engineered by Messrs. Elliott and Frank, of Regent street, and the transaction was one of the largest that had taken place in the cinematograph industry. This deal is merely an indication of the big thinking that is going on to-day in the cinema business. Mr. Elliott is acting for an Australian syndicate which has a million pounds to invest. It if common talk in London amusement worjd that Mr. W. Bnrington Miller, the Australian picture magnate, is acting for this syndicate. There is also a big American syndicate that is ready to invest a huge amount of money. In the West End (said Mr. Elliot! we are negotiating for a site at £120,0(10. The Queen's Theatre in Leicester Square is a great enterprise, while in the vicinity of £250 ; 000 has been paid for the site alone of a great picture theatre. The site of the old Tivoli was purchased for about £140,000, and I believe a cinematograph theatre and restaurant is to be erected on it at a cost of about £150.000.

"Notwithstanding all this, the business is in its infancy. A man I lcnow bought a cinema for £22,000 eighteen months aeo. He has just refused an offer of £50,000 for it. The buildings that are to be erected will l>e of the most paiatial character, and London, of •course, is not tlie only city that is busyA theatre and restaurant has been planned for the North of England at a cost of £lO-0,000. These new buildings promise to be the last word in sumptuous--jiess. with accommodation for 4000 people. with orchestra l ; costinsr £IOO a week, nnd with great restaurants. The small theatre will be a thing of the past."