First Beatrice Corp

First Beatrice Corp was the successor entity to Dempster Mill Manufacturing Company after its operating assets were sold in late 1963.

📝 Transition

At the end of the 1963 Letter, Buffett notes that the "Dempster saga" reached a conclusion. The company sold its name and operating assets but retained its cash and marketable securities. The remaining entity was renamed First Beatrice Corp.

💰 Valuation

On the 1963 yearend audit, the holdings in First Beatrice were valued at asset value (mostly cash and securities at market) less a $200,000 reserve for various contingencies.

🔗 Connections

• Source: 1963 Letter
• Predecessor: Dempster Mill Manufacturing Company