Thursday, 6 September 2012

Bohemian Breweries

Pivni Filosof usefully pointed out that there were other British investments in foregin breweries in the 19th century. In particular a certain one in Bohemia, then part of the Austro-Hungarian Empire.

A public company was formed to buy three breweries in and around Prague:

"The Bohemian Breweries, Limited (Prague), has been formed with a share capital of £280,000 in 14,000 8 p c Cumulative Preference Shares of £10 each, and 14,000 Ordinary Shares of £10 each, together with £120,000 in 6 p c Mortgage Debenture Bonds of £50 each. The whole of the Preference Shares and Debentures, toether with £110,000 in Ordinary Shares, are offered for subscription, the balance of £30,000 in Ordinary Shares being retained for further working capital as required. The company has been formed for the purpose of acquiring three freehold breweries and a distillery; situated in the town and suburbs of Prague: (a city of over 300,000 inhabitants), the capital of Bohemia, Empire of Austria. The breweries and distillery are fully described, and other information is also given in the prospectus appearing in another column. The list will open on Thursday, the 18th, and be, closed at or before 4 o'clock on Friday, the 19th July, for both town and country. "
Freeman's Journal - Wednesday 17 July 1889, page 3.
But guess what? It seems they'd been told porkies about the profits of one of the breweries. They knocked down the price, so I guess that was OK.

"Bohemian Breweries.— The statutory meeting of this company was held at Winchester House, yesterday. — Mr. McL. McHardy (chairman) said that the National and Lieben Breweries had been duly transferred to the company, and they expected that in the course of a very short space of time, probably a few days, the third and last brewery, the Prace, would be also transferred. Out of the six directors five had visited Prague, and feeling that the profits of the National Brewery had been overestimated, they obtained, he was glad to say, a considerable reduction in the purchase price of that brewery. The whole of the subscription of Ordinary aud Preference Shares offered to the public had been taken up, and the calls punctually paid. Now that the transfer of the three breweries might be looked upon as practically completed, they had set to work in earnest for the carrying on of the business of the company ; they had appointed an excellent manager, and their prospects were encouraging. No resolution was submitted to the meeting, it only being held in compliance with the Companies Acts."
Morning Post - Saturday 12 October 1889, page 2.

Of course, things, as they so often seem to, turned out badly. I'll return to that when I've found the appropriate newspaper report.

1 comment:

Pivní Filosof said...

Can't wait to learn more about this company!