Word: seagram
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Dates: during 1950-1959
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LIQUOR PRICES will be boosted, first general increase since Prohibition that has not been brought on by higher Government excise taxes. Publicker Industries (Old Hickory, Embassy Club) and Joseph Seagram & Sons (Calvert, Four Roses) have decided to pass on rising production costs with 4% increase at wholesale level, or an average 35? more per fifth at retail. Rest of industry will probably follow suit...
...Island toward the upper East Side, particularly Park Avenue. Once the barracks of New York's upper crust, Park Avenue is becoming the prestige address of U.S. business. From its new Park Avenue perch, the Astor Plaza will look southward on the bronze-skinned, 38-story House of Seagram, now a building on the next block, westward at blue-green Lever House, just across Park Avenue. Within a radius of two blocks on Park Avenue, four other office buildings are going up, while buildings have been completed for Aramco, Universal Pictures and Colgate-Palmolive...
...Yorker, Brown started selling shoes at 18, studied journalism in New York University night school, tried reporting for New York's Daily Mirror, went back to selling shoes, later became general merchandise manager for Chicago's Goldblatt Brothers department store. In 1936 he began selling whisky for Seagram & Sons, and after a stint with several other distillers went to Beam as sales vice president...
...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...
...buying less, or shifting to lighter drinks, because of stiff federal taxes on spirits, boosted last year from $9 a gal. to $10.50. At retail the price is still higher because venders add their normal markup (average 22%) to the tax itself* While the Big Four distillers (Schenley, National, Seagram's and Hiram Walker) insist that they will maintain prices, smaller distillers have already begun to cut prices of straight whiskies. Sample: United Distillers has slashed its J. W. Dant bottled-in-bond sour-mash bourbon by 90? a fifth...