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He formed the dance troupe the Wally brothers along with Niels Bagge-Wessel. In the 1930s, Gustaf Wally participated in shows by Karl Gerhard and Kar de Mumma. He was the head of "Södra Teatern" in Stockholm 1939–1941, and "Oscarsteatern" 1942–1947. He made ten records and took part in seven movies.
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