Since starting this series I've come to have a sneaking respect for Watney's beers. Their consistently high scores can't be a fluke. Yes they were the largest brewery in London and one of the largest in the country. The biggest brewery making the best beer. It's not a situation you'd find today.
I'd thought about publishing a whole load more financial stuff about Watney. But I can't be arsed to traipse through the newspaper archive looking for their annual results for the 1920's. Sorry, but I'm an intensely lazy person at heart. But this one I did find should give a good impression of the state of Watney's finances.
"Watney Combe.
It was announced Friday afternoon that the dividend on Watney Combe Reid stock was to be increased from 17 per cent, to 19 per cent, for the year to June 30 last. The report is now available, and shows trading profits of £1,365,483. This compares with £1,340,735 the year before.
Another £400,000 is placed to general reserve, but it is stated that a similar amount placed to reserve last year has been expended improving properties and converting leaseholds into freehold. The general reserve is £759,455.
The financial position is very sound. There are investments in Government securities for £532,879."
Dundee Courier - Monday 30 July 1928, page 2.
It looks like they were rolling in money. They probably brewed around ten times as much beer as Wenlock Brewery. So you'd expect their profits to be ten times higher. In 1927 and 1928 Wenlock's net profits were £119,201 and £122,047 respectively, meaning Watney's profits were indeed about ten times those of Wenlock.
That's it for the money stuff. I've decided to talk about Watney's other Stouts instead. Like many London brewers, they made several Stouts. They were: Family Stout, Oatmeal Stout, Special Stout and Special Stout for Belgium. All were in bottled form. In addition there was at least one, and possibly two, draught Stouts.
Watney Stouts 1921 - 1929 | |||||||||
Year | Beer | Price | size | package | Acidity | OG | FG | ABV | App. Atten-uation |
1921 | Family Stout | 17d | quart | bottled | 1046.3 | 1012.5 | 4.39 | 73.00% | |
1922 | Family Stout | 17d | quart | bottled | 1043.9 | 1010.9 | 4.28 | 75.17% | |
1922 | Family Stout | 9d | pint | bottled | 1044.3 | 1012.5 | 4.12 | 71.78% | |
1923 | Family Stout | bottled | 1046.5 | 1011 | 4.61 | 76.34% | |||
1921 | Reids Family Stout | 9d | pint | bottled | 1045 | 1010.7 | 4.46 | 76.22% | |
1926 | Reids Family Stout | 8d | pint | bottled | 1048.5 | ||||
1927 | Reids Family Stout | bottled | 1047.7 | 1012.3 | 4.60 | 74.21% | |||
1928 | Reids Family Stout | 8d | pint | bottled | 1050.2 | 1012.7 | 4.87 | 74.70% | |
1929 | Reids Family Stout | 8d | pint | bottled | 0.18 | 1047.8 | 1007.3 | 5.28 | 84.73% |
1921 | Reids Oatmeal Stout | 9d | pint | bottled | 1045.5 | 1009.7 | 4.66 | 78.68% | |
1922 | Oatmeal Stout | bottled | 1047.4 | 1009.3 | 4.96 | 80.38% | |||
1928 | Reids Oatmeal Stout | 8d | pint | bottled | 0.07 | 1050 | 1015.6 | 4.46 | 68.80% |
1928 | Reids Special Stout | pint | bottled | 1056 | 1014.7 | 5.37 | 73.75% | ||
1921 | Special Stout | 13d | pint | bottled | 1059 | 1016.2 | 5.56 | 72.54% | |
1922 | Special Stout | bottled | 1057.8 | 1015.9 | 5.44 | 72.49% | |||
1923 | Special Stout | bottled | 1054.3 | 1013.8 | 5.26 | 74.59% | |||
1922 | Special Stout (Belgian sample) | 9d | pint | bottled | 1067.1 | 1023.8 | 5.60 | 64.53% | |
1929 | Stout | 8d | pint | bottled | 1047 | 1010.8 | 4.71 | 77.02% | |
1929 | Stout | 8d | pint | bottled | 0.06 | 1046 | 1010.8 | 4.57 | 76.52% |
1921 | Stout | 9d | pint | draught | 1053.4 | 1014.8 | 5.01 | 72.28% | |
1921 | Stout | 9d | pint | draught | 1054.5 | 1014.4 | 5.21 | 73.58% | |
1921 | Stout | 9d | pint | draught | 1045.7 | 1009.8 | 4.67 | 78.56% | |
1926 | Stout | 8d | pint | draught | 1053.9 | ||||
1926 | Stout | 8d | pint | draught | 1052.7 | ||||
1926 | Stout | 8d | pint | draught | 1053.6 | ||||
1929 | Stout | 8d | pint | draught | 0.08 | 1055.9 | 1014.5 | 5.38 | 74.06% |
1929 | Stout | 8d | pint | draught | 0.07 | 1052.9 | 1012.1 | 5.31 | 77.13% |
Sources: | |||||||||
Whitbread Gravity book held at the London Metropolitan Archives, document number LMA/4453/D/02/001 | |||||||||
Truman Gravity Book held at the London Metropolitan Archives, document number B/THB/C/252 |
It's not always made clear in the sources exactly how these beers were branded. Sometimes they are describes as Reid, but others not. Watney seemed to prefer to brand its bottled Stouts as Reid, presumably because, as an old Porter brewery, they would be associated with Stout. Watney's continued to use the Reid name for at least 30 years after the Griffin Brewery in Clerkenwell closed.
Doubtless Watney parti-gyled these Stouts in various combinations. Family Stout, Reids Family Stout, Oatmeal Stout and Reids Oatmeal Stout all look like the same beer to me. I bet they pulled the trick of throwing the odd pound of oats into the grist for all Stouts so they could legally describe some of it as Oatmeal Stout.
Special Stout and Reids Special Stout are probably the same beer as each other and the draught Stout. Though possible they've been slightly tweaked. The Belgian Special Stout probably resembles Watney's pre-war Stout. That's what most breweries did: kept brewing export versions at pre-war strength.
With a couple of exceptions, the rate of attenuation is high, with a couple even over 80%. Were they getting some extra conditioning before bottling?
Right, now on to their draught Stout. It's of the 9d (8d after 1923) type. It's a little stronger and more highly-attenuated than average, but not by a huge amount. The sample that's only 1046.3 looks like it's a weaker 8d/7s Stout./ Unless it's been seriously watered. But it does look suspiciously like Family Stout. It's been sold at 9d a pint, which screams "cheating landlord" at me.
Will their Stout continue Watney's good run?
Watney Stout quality 1922 - 1925 | ||||||||
Year | Beer | FG | OG | ABV | App. Atten-uation | Flavour | score | Price |
1922 | Stout | 1014.7 | 1057.7 | 5.59 | 74.52% | clean | 1 | 9 |
1922 | Stout | 1012.4 | 1055.9 | 5.67 | 77.82% | good | 2 | 9 |
1922 | Stout | 1013.2 | 1056.2 | 5.60 | 76.51% | good | 2 | 9 |
1922 | Stout | 1012.8 | 1054.8 | 5.47 | 76.64% | poor | -1 | 9 |
1922 | Stout | 1013.7 | 1055.2 | 5.40 | 75.18% | yeast bitter | -1 | 9 |
1923 | Stout | 1013 | 1056.5 | 5.66 | 76.99% | fair | 1 | 9 |
1923 | Stout | 1013.6 | 1056.1 | 5.53 | 75.76% | fair | 1 | 9 |
1923 | Stout | 1015.2 | 1056.2 | 5.33 | 72.95% | good | 2 | 8 |
1923 | Stout | 1010.8 | 1046.3 | 4.61 | 76.67% | only fair | 1 | 9 |
1923 | Stout | 1012 | 1055 | 5.60 | 78.18% | v fair | 2 | 9 |
1923 | Stout | 1013.2 | 1055.2 | 5.46 | 76.09% | v fair | 2 | 8 |
1923 | Stout | 1013.8 | 1054.8 | 5.33 | 74.82% | v fair | 2 | 8 |
1923 | Stout | 1012.5 | 1054.5 | 5.47 | 77.06% | very fair | 2 | 9 |
1924 | Stout | 1015.4 | 1053.4 | 4.93 | 71.16% | good | 2 | 8 |
1924 | Stout | 1013.2 | 1054.9 | 5.43 | 75.96% | v poor | -2 | 8 |
1925 | Stout | 1015.4 | 1055.9 | 5.26 | 72.45% | good | 2 | 8 |
Average | 1013.4 | 1054.9 | 5.40 | 75.55% | 1.13 | |||
Source: | ||||||||
Whitbread Gravity book held at the London Metropolitan Archives, document number LMA/4453/D/02/001 |
Yes, it will. Thirteen from sixteen achieved positive scores, including 9 2's. The overall average is a very decent 1.13.
It'll feel weird seeking out Watney's pubs when I'm holidaying in the 1920's. But they're probably the safest bet.
1 comment:
Why was the Dundee Courier so keen on this kind of thing? Seems a rich source for you.
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