Word: whiskeys
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Dates: during 1940-1949
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Shades of Repeal. Last week's rise in American Distilling was so sharp that SEC began looking under desks for manipulators. Not since the wild Repeal days of 1933 had distilling shares been so popular; in fact, they were selling like bottles of whiskey. But probably SEC would find only that the market had belatedly recognized the wartime facts of distilling. All the whiskey shares were strong last week because-for the long term-whiskey stocks are scarce and the industry has finally given up hope that the Government will give it a "holiday" from producing industrial alcohol. Result...
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...
...profits taxes running up to 90%. But if 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...
Avila Camacho ordered 250,000 acres on the tropical coasts planted in corn, the planting of more corn on lands not used for sugar. Border states put a stricter watch on bootlegged corn liquor trickling across to the whiskey-short U.S. Sole purchaser of corn will be the Government, which will distribute it on a zonal basis...
...Whiskey stocks are estimated at about a two-year supply but gin is down to a mere...