A film wrapping machine comprises a pair of diametrically opposed film roll mounting and dispensing carriage assemblies, mounted upon a rotary ring member, for simultaneously dispensing wrapping film. A vertically movable frame member, upon which the rotary ring member is rotatably mounted, is effectively moved at a speed of ascent or descent that is approximately twice the speed as that of a vertically movable frame member incorporated within a conventional film wrapping machine so as to permit the dual film roll mounting and dispensing carriage assemblies to dispense the wrapping or packaging film within a time frame that is approximately twice as fast as that of the conventional film wrapping machine and yet in a slightly overlapped mode as desired for packaging purposes.