Silver Screen agreed to reimburse some investors.

The Massachusetts secretary of state’s office, which last week issued a cease-and-desist order against the sale of a Silver Screen limited partnership offering by E. F. Hutton & Co., announced a settlement with Silver Screen requiring the reimbursement of $4.8 million in sales and interest payments to 700 Massachusetts investors. The partnership, designed to raise film financing for Walt Disney Productions, raised more than $150 million nationwide. Hutton, charged by Massachusetts officials with unethical business practices in the sale, has asked for a hearing, a spokeswoman for the secretary of state said.