Word: seagrams
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...Lost Weekend, the horrendous novel about a dipsomaniac, it also uncorked a stream of scuttlebutt. Tongues wagged that the liquor industry was trying to stop Paramount, had tried to buy it off with $2,000,000, etc. Last week, as the movie won the plaudits of critics & public, Seagram-Distillers Corp. added...
...column ads in newspapers, Seagram congratulated Cinemactor Ray Milland for his "magnificent performance" as a depraved alcoholic, urged everyone to see the film. The preaching, said Seagram's, was exactly what it has also urged should be practiced. Said the second biggest whiskey company in the U.S.: "Some men should not drink...
...harrumphed 58-year-old Major General (retired) Frank Rudolph Schwengel, president of Joseph E. Seagram & Sons, Inc., "that the finely made beverage spirits produced by American distillers for the war effort should go into hair tonic, cosmetics and shoe polish, while substandard commercial alcohol from Cuba goes into the American stomach...
Within the past month one big liquor deal has gone through: Seagram's $43,000,000 purchase of a 95% interest in Frankfort Distilleries. Two other big deals are bruited: Allied Mills may sell its whiskey subsidiary, Century Distilling Co., for around $28,000,000; Park & Tilford is dickering for Brown Forman. In all these deals the buying price is more than $100 per barrel of whiskey stocks-a good deal more than their value on the books of the small fry selling...
...they sell out, they will merely pay the 25% tax on long-term capital gains. But for the big companies with low inventories, who must maintain their competitive positions, the reverse is true: almost any way of acquiring more well-aged whiskey stocks makes sense. Example: Seagram is the No. 1 North American liquor company in sales. But even after buying up Frankfort's 400,000 bbl. of whiskey its total inventories of around 1,300,000 bbl. leaves it well behind Schenley, with 2,000,000 bbl., and barely ahead of National...