Word: schenley
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...Federal Trade Commission last week dropped monopoly complaints against Joseph E. Seagram & Sons and Schenley Industries after they signed consent decrees. Under the agreements, subsidiaries of either of the companies are forbidden to band together to fix prices or otherwise restrain trade among themselves, even though it might be all in the family. The ruling means that price-fixing agreements by different branches of a corporation are legal only if those branches are set up as divisions, as in General Motors, not as separate corporate subsidiaries...
...attention to his activities. Last month a federal court convicted Samish of income-tax evasion. The charge: failing to pay $71,878 in taxes on a $120,000 commission from the Biow Co., a New York advertising agency. The money, payment for Samish's services in landing the Schenley Distillers' account, was remitted in checks drawn to ex-prize fighters, bookies, friends and relatives of Samish, and even to fictitious persons. Last week Federal Judge Oliver D. Hamlin imposed a fine of $40,000 and a three-year jail term on Artie Samish. Still pending: the Government...
...Largest: Schenley Industries...
DISTILLERS, who once bottled only their premium brands in decanters, are stampeding to get their lower-priced whiskies into decanters in time for the holiday trade. Schenley, first to bottle a blended whisky in decanters, has already had a 400% pickup in fall sales to wholesalers. But other distillers are close behind: Owens-Illinois Glass Co. is now making decanters for eight distillers v. only two last year...
Just as candidly, the defendants told the court why they had been so anxious to get rid of the boss: Jones, a great whisky salesman (he built Old Schenley's sales in Boston by passing out Blarney-stone rings to barkeeps as a sales incentive), had begun drinking so heavily that clients were complaining, and the agency had lost three big accounts. Moreover, the defendants charged that Jones paid $400 a month to two of his sisters for "premium ideas" which were seldom used by the agency, and $8,000 a year to a brother, Alfred Jones...