LARGE BUSINESS DEAL.
WHISKY FIRM ABSORBED.
PARENT COMPANY'S WEALTH.
Austrahan and N.Z. Cable Association. Reed. 10.5 p.m.) LONDON. Dec. 11.
The firm of Buchanan-Dewar, Ltd., has purchased the business of Peter Dawson and Co., Glasgow, for about, £2.000,000, including its stocks of whisky. The purchasers now hold the largest stocks of mature whisky in the world.
The amalgamation made a profit of £1,102,000 last year, and the shareholders participated in the gift of bonus shares representing £10,000,000 at the then market Vblue.
The firm of Buchanan-Dewar, Ltd., comprises three constituent companies— James Buchanan and Co., London, John Dewar and Sons. Perth, and W. I'. Lowrie and Co., Glasgow. In November, 1923, the company issued 1,250,000 preference shares, and according to reports ]>üb!isbed in the prospectus of this issuo its combined net assets were £6,661,000. It then had a fully paid capital of £6,767,000. It was stated that the combined profits of these businesses (subject to income tax) were, lor" 19221923. £2.302,000. The chairman then stated that the stocks of whisky bold by the. combined companies exceeded 29.000,000 gallons.
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Bibliographic details
New Zealand Herald, Volume LXI, Issue 18891, 13 December 1924, Page 11
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178LARGE BUSINESS DEAL. New Zealand Herald, Volume LXI, Issue 18891, 13 December 1924, Page 11
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