Word: dcl
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Dates: during 1930-1939
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...process. Last summer President Seton Porter of National Distillers Products Corp. proposed to raise money by selling 337,000 shares of new common stock to the public and an equivalent amount to Distillers Co. Ltd., Britain's fabulous whiskey trust (TIME, Aug. 30). The scheme was abandoned when DCL refused to pay $25 a share. Last week National Distillers announced its latest bid for fresh capital by filing registration with the Securities & Exchange Commission for a $15,000,000 42% debenture issue-biggest single piece of new financing since the Securities & Exchange Act was passed. One-third...
...shares, to Distillers Co. Ltd., Britain's fabulous whiskey trust. The rich & noble lords of Scotch whiskeydom have a soft spot in their hearts for Mr. Porter as well as a shrewd eye for profits. Far from being a bitter competitor. National Distillers sells hundreds of cases of DCL's Scotch, helped DCL to restore its 20% dividend (TIME...
Furthermore, DCL was forming a U. S. gin subsidiary in which it wanted Mr. Porter to have a two-fifth interest. Upshot is that DCL will let Mr. Porter have 1) the two-fifth interest, 2) the money to buy it with and 3) a lot more money besides. In return the DCL directors were pleased to get for some $7,000,000 a 12% interest in the No. 1 U. S. whiskey company...
...Dewar's Scotch were the chief whiskeys in General Foods' eye, and also Gordon's Gin. The last was a cause for much debate and speculation. The importing company that had Gordon's in the old days had come sufficiently to life to give DCL legal pause in assigning this agency afresh. Observers waited to see whether the Gordon prize would fall to the General Foods crowd, led by its hustling Chairman Edward F. ("Ed") Hutton and Thomas L. Chadbourne, or to National Distillers for whom, for the sake of his insurance business, James Roosevelt...
...could push whiskey into a respectable place high in big business circles. Seton Porter and his associates were keenly aware of their social responsibilities. For his own company, as No. i whiskey man, he cherished the hope that it might some day have the swank of Britain's DCL. Competition would be terrific and rum was a Demon but all he wanted was a fair opportunity to saw the horns off his beast...