INVESTING IN WINE
SIR,—All Jossleyn Hennessy can expect is: (a) A good 1953 claret or 1948 port may cost less now than when he comes to drink it at the due time. In 1933 a modest three dozen Cockburn 1927 cost me 80s. the dozen. Dow's 1927 is now quoted at 36s. the bottle. (b) If by then he is, as I have just been, probably forbidden by his doctor to drink such things, his wine merchant may buy it back at something near the current price. And no tax on the profit. (c) The excise duty may go op. Fortunes were made in both wars by men who bought whisky out of bond before the outbreak.
But for the 'small investor' good wine is like a National Savings Certificate. It is worth more when you 'cash in' or 'liquidate.'—Yours faithfully, A. R. CROSS Old Ballikinrain, Balfron, Stirlingshire A. R. CROSS
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