What really stuck in British brewers' craw was German exports surging ahead while British exports stagnated. 800,000 from Germany compared to just 448,000 from Britian, according to the prospectus."Messrs. MARTIN and Co., Bankers. 68, Lombard Street, London the NATIONAL BANK of WALES (Limited), Bristol, Cardiff, Swansea, and all its Branches, are authorised to RECEIVE SUBSCRIPTIONS for the undermentioned CAPITAL.
The SUBSCRIPTION LIST will OPEN THIS DAY, January 16, 1890.
THE ENGLISH LAGER BEER BREWERY (Limited)
(Home and Export).
Incorporated under the Companies' Acts, 1862 to 1889, whereby the liability of Shareholders is limited to the amount of their Shares. Capital, £100,000, in 10,000 Shares of £10 each. The Shares are payable as follows : —On application, 10s. ; on allotment, £2 10s. ; two months after allotment, £2; four months after allotment, £2 ; and the balance, when required, in instalments not exceeding £1, at intervals of not less than one month. The Dividends will be payable halfyearly.
Directors.
FRANCIS RICHARD CRAWSHAY, Esq., J.P„ Chairman, Bridgend, Glamorganshire, Deputy Chairman of the National Bank of Wales (Limited).
Alfred T. Perkins, Esq., J.P., East Court, Wells, Somerset.
Major F. R. Howell, The Oaklands. Aberdare, Glamorganshire, Director of the National Bank of Wales (Limited).
John Bellamy Payne, Esq., Mill Owner and Manufacturer, Chard, somerset, and Nottingham.
James P. Hall, Esq., Bathampton, near Bath, Somerset.
The Directors have power to appoint one or more directors from qualified Shareholders.
Bankers.
The National Bank Wales (Limited), and all its Branches ; also their London Agents.
Messrs. Martin and Co., 68, Lombard-street, London, E.C.
Solicitors.
John Greenfield, Esq., 37, Queen Victoria-street, London, E.C.
Messrs. Clifton, Carter, and Co., Bristol.
Brokers.
London.—Messrs. Edmund Campbell and Co., 13, Copthall-court and Stock Exchange, E.C.
Manchester. —Messrs. Pixton and Coppock, 12, Half Moon-street and Stock Exchange. Manchester.
Liverpool.—Messrs. G. Irvine and Sons, Queen Insurance Buildings and Stock Exchange.
Leeds.—Messrs. Potter and Co., 16, Park-row. B
ristol and Bath. —Messrs. Betion Sayce, Vaughan, and Co., Clare-street, Bristol, and 12, Old Bond-street, Bath.
Glasgow,—Messrs. Outram and Hamilton, 48, West George-street.
Edinburgh.—Messrs, Stenhouse and Johnson, 30, St, Andrew's- square.
Dublin.—Messrs. Molony and Murray, 51, Dame-street.
Auditors.
Messrs. Hibbard, Bull, and Co., 17, King's Arms-yard, Coleman-street, London.
Secretary, pro tem. —Mr. C. S. Markham.
Temporary Offices.
84, Lombard-street, London, E.C. 50, Broad-street, Bristol.
PROSPECTUS.
THIS Company has been formed for the manufacture of Lager Beer, a beverage iu large and increasing demand, and for which, hitherto, this country has been mainly dependent its importation from Germany and other countries.
In order to show how large the field is for legitimate enterprise in this direction, it may be stated that about 800,000 Barrels of Lager Beer are annually exported from Germany to all parts of the globe, whereas the export demand from England of all descriptions of beer last year only reached some 448,000 Barrels, the declared value of which was £1,705,368, or the average of about £31 6s. per barrel, thus showing the great preference of Lager over ordinary English beer for exportation.
It the intention after supplying the home trade to the export trade a special feature, the Company having great facilities of transport by water to Bristol Channel, where shipments can be made to all parts of the world.
For the manufacture of Lager Beer there are four essentials necessary, viz. :
1st. To secure a site possessing water containing the chemical properties necessary for that purpose.
2nd. To erect a Brewing Plant specially designed for its manufacture.
3rd. To erect an Ice Factory.
4th. To secure the services of thoroughly experienced, practical Continental Brewer, who will not fail to produce article equal to that produced on the Continent.
These have been secured, and the water reported on by Messrs. Hassell and Clayton, the eminent analytical chemists, who have analysed the water produced from the spring on the premises to be acquired by the Company, and certified to its purity and excellence, and to its great suitability for production of Lager Beer.
Arrangements have been made to acquire Freehold Brewery with 20-quarter Malt-house, Stores, Offices, Stables, Outbuildings, and Dwelling-house, with valuable Freehold Building Land adjoining, situate at Batheaston, Bath, possessing suitable water supply. A special plant will be erected for the manufaoture of Lager Beer, capable of producing 30,000 barrels per annum (and if necessary it can be increased to 60,000), The Directors have under offer the services of thoroughly practical German brewer, who has had 20 years' experience on the Continent, and who holds diploma of merit for the manufacture of Lager Beer.
Since the introduction of this description of beer into this country, a taste has been created for German and Austrian Lager Beer, and for which the demand is daily increasing, and which is no doubt due to the fact of its almost non-intoxicating, exhilarating, and wholesome qualities, and the same time having the advantages of being bright and pleasant tonic.
The difficulties and expense of importation, together with the deterioration caused by transit and testing the beer for Excise purposes, will render it impossible for the Continent to compete successfully with this Company, which will be free from the drawbacks in the shape of differential, custom, transport, and other charges.
Lager beer is strongly recommended by the medical practitioners, on account of its containing less aloholic strength than the best English-Brewed Ales.
The "Daily Telegraph" in an article on Beer, calls Lager Beer the most refreshing, as well as the most wholesome of Enropean Beers.
The demand for this Beer has become so great, that it is now sold in most of the first-class Hotels, Restaurants, and Taverns in England.
The cost of producing Lager Beer will be considerably reduced by the cheap production of ice, so essential to its manufacture, which, by the aid of water power, possessed by this Company, can manufactured at nominal cost.
Barley of the finest quality is grown in the immediate locality, and will be converted into malt on the most modern and approved system on the Company's own premises.
Great facilities are offered this Company by the cheap transit to the principal towns of both England and Wales by water and Railway, the Brewery being in close proximity to the River, Canal, and Railways, which command the whole of England and Wales.
The success of the great Breweries in this and other countries, is attributable to the enormous demand for good malt liquors, and to the perfect administration of their establishments.
With such prospects this enterprise promises to equal any Brewery investment, both with regard to profit and safety, and the Directors have great confidence in submitting this undertaking to the Public as representing a new and legitimate home enterprise, which to be more than ordinarily profitable, as after providing a substantial reserve fund, large dividends may be reasonably expected.
John Bellamy Payne, Esq., one of the directors, has visited Paris, and has satisfied himself that there will be very great demand for this Company's Beer on the Continent, and especially in Paris, and he has since received letter from a large importer of German Lager Beer, who desirous of becoming agent to this Company that city, of which the following is extract :—
"My extensive commercial relations with cafés, restaurants, hotels, &c., numbering from 1700 1800, authorise me to inform you that could replace the light beer consumed at present in France (and imported from Germany) by your light English Beer, and, without doubt, arrive at important sale to find purchasers for all which you can furnish me,"
The following letter has been received from a large importer of Lager Beer, as follows:—
"To the Directors of The English Lager Beer Breweiy (Limited). " 31a, Clare-street, Bristol, Oct. 10, 1889.
"Having for several for years past imported largely Lager Beer to this country, I am glad to find it is about being here, thus saving the expense of transport and the deterioration created by tapping for Excise, and you have your brewery properly constructed, with a thorough practical German brewer as manager, I have no hesitation saying you have a prosperous future. I should be to your agency.
"From many years' experienoe in the trade, I am satisfied it is the Beer of the future in England, and for which the demand is greatly increasing.
" Yours truly,
H, OTTO, Lager Beer Importer.
The present price of ordinary Lager Beer to the trade about 48s. per barrel, which, it is believed, can be produced by this company leas than 26s. per barrel.
ESTIMATE PROFITS on DAILY PRODUCTION of 100 BARRELS of LAGER BEER.
To Cost of Malt and By Sale of 100 Hops, and Excise- Barrels per day, duty on same 80 0 0 46s. per Barrel 230 0 0 To Brewery Expenses, including Expenses of By (Produce of Man-agement, Salaries, Grains and Yeast, Wages, Commis- valued at £1000 sions, Discounts, per annum, but Freight, Office, not taken to ac Stores, aud Sun- count) dries 50 0 0 130 0 0 Net Profit per day... 100 0 0 £230 0 0 £230 0 0
This Estimate, based upon working 300 Days per annum, gives a Net profit of £30,000 per annum, or 30 per cent. on the whole capital of the company, after providing for administration and all contingencies.
The Directors purpose appointing Agents, and establishing Depots and Stores for the supply of Lager Beer Casks and Bottles at prices less than the present charged by importers. The following places are selected :— London. Bristol. Weymouth. Brighton. Liverpool. Cardiff. Southampton. Dover. Manchester. Swansea. Bournemouth, Folkestone. Sheffield. Newport. Reading. Hastings. York. Leeds. Plymouth Cheltenham. Margate. Birmingham. Exeter. Leamington. Ramsgate.
For the purpose of the export trade, arrangements are being made for the appointment of Agents and establishing Depots the following places :—
The Channel Islands. Malta. Bombay. France. Egypt. Madras. Gibraltar. Africa. Bengal.
The eminent firm of Messrs. Floyd and Stanley has inspected the Property, and report follows :—
"2, Victoria Mansions, Victoria-street, Westminster, November, 4th, 1889.
"To the Directors of the English Lager Beer Brewery (Limited).
"Gentlemen — We have inspected the property the English Lager Beer Brewery, situated at Batheaston, a suburb of Bath. The plans and specifications are for Brewery calculated to produce 100 barrels of Lager Beer per day, and to be of the best construction, with machinery and plant of the most modern description, so that this Brewery will be one of the most complete of its kind.
"We estimate the Brewery, with Freehold Land, Mills, Plant, Machinery, including Ice Factory, Electric Light installation per specification, and its valuable waterpower, to be of the value of £39,500. "
Yours faithfully,
(Signed) FLOYD and STANLEY."
The Directors intend, due course, to apply for official settlement and quotation on the London Stock Exchange.
The Vendor to the Company undertakes, for the sum £39,500, as per valuation, to convey and assign the above-mentioned Freehold Brewery, with 20-quarter Malt-house, Storehouses, Offices, Stables, Outbuildings, and Dwelling house, with Freehold Building Land and Mills adjoining, and to reconstruct the Brewery and fit up the same with a special Lager Beer Plant and machinery and fittings, capable of produeing 600 Barrels per week ; also an Ice Factory, with the requisite machinery and plant. And the Vendor further undertakes to bear and pay all the costs, charges, and expenses of, and incidental to, the formation aud registration of the Company up to the first allotment of Shares.
A contract has been entered into, dated November 7, 1889, between Charles Steward Culley of the one part, and Arthur James Evans, as trustee for the Company, of the other part. This contract, With the Memorandum and Articles of Association, may be sees at the offices of the Company's solicitors.
As the Vendor provides all preliminary expenses of the formation and bringing ont of the Company and the issue of its capital he reserves to himself the right to enter into, and has entered into, contracts and arrangements with various persons for this purpose, but to none of which the Company has been made party. Inasmuch as these contracts and arrangements may technically be deemed contracts within the meaning of Section 38 of the Companies' Act, 1867, applicants for shares shall be deemed to have had notice thereof respectively, and to waive any compliance with the provisions of such section.
Applications for Shares should be made on the form accompanying the Prospectus, and sent with the deposit direct to the Bankers.
Where a less number of Shares is allotted than that applied for, the balance will be credited in reduction of the payment due on allotment. Should no allotment be made, the amount paid on application will be returned in full.
Copies of the above-recited contract, also Messrs. Hassell and Clayton's Analysis, and Memorandum and Articles Association, may be seen at the offices of the Solicitors to the Company.
Prospectuses and forms of Application for Shares may be obtained of the Bankers, Brokers, and Auditors, at the offices of the Company."
Devizes and Wiltshire Gazette - Thursday 16 January 1890, page 1.
Planning on selling lots of British Lager in Paris seems hopelessly optimistic to me. As does opening a Lager brewery with a capacity of 30,000 barrels when total UK consumption of Lager was well under 100,000 barrels. They seem to believe the hype that Lager was just about to become hugely popular in Britian. A claim that was to be repeated for almost a century before it actually became true.
I found this statement fascinating: "The demand for this Beer has become so great, that it is now sold in most of the first-class Hotels, Restaurants, and Taverns in England." Was that really true in the 1890's? I suppose it depends on your definition of first-class. Though we have seen how Lager spread quickly to places like Manchester and Glasgow.
Remember that £39,500 for the Freehold Brewery. That'll be coming up again later.
Next we'll be reading about the opening of the brewery.
It seems to me that the "bon ton", never the best or first market for beer, convinced itself that a beer with much more gas and less alcohol than the typical English beer, and tasting hopefully of (at the time) reduced pine and fir resins, would knock out some established pillars of British brewing.
ReplyDelete(The only problem was, the British man in the street who was the typical beer consumer, whose ancestors were drinking beer for hundreds of years, didn't agree).
Educated chemists like Charles Graham backed up this trend. I believe that Frank Faulkner and most other practical brewers writing in the mid- and later-1800's were skeptical that lager improved upon the merits of English beer, but they seemed abashed to say so. In this they were cowed I think by the big emerging German and Austrian concerns, their impressive decoction methods and their investment in cooling plant.
Few voices in British beerdom seemed actively to have defended the native product. Here is one who did, see page 179 in The Curiosities of Ale and Beer: An Entertaining History:
"Neither German nor Anglo-German beers appear to make much headway over here, nor is this very surprising when we remember how far superior our own ales and beers are to any brewed in Germany".
http://books.google.ca/books?id=xGkuAAAAYAAJ&printsec=frontcover&dq=charles+cook+beer&source=bl&ots=gxUBmJybkh&sig=WTdFzghMBNlmNgP6FRvRcMB3mBA&hl=en&sa=X&ei=4QFbUNKDCqfq0gGh
Thank you.
Gary
Ron, just a postscript in that I realize the focus of this particular venture seems to have been the export market. But given the references also to potential high-end use in domestic cities, and the need too for almost any business to have a local base, it is clear, and the general buzz at the time was, that lager was the next big thing for home use too.
ReplyDeleteWell, it wasn't. What was missed was that British brewing, even before running beers became the norm, was a perfected entity unlike the small creaky northern European top-fermenting plants with their oft-acidic medieval ales. The simple want lager supplied there didn't exist in Britain and anyway the new stuff didn't taste as good (still doesn't taking all in all, IMO).
Gary