U.S. Business: To the Package Store

Fearing that the smoking-and-cancer scare may be hazardous to their fiscal health, cigarette makers have long been hedging their futures by tracking down merger opportunities. Lately, the trail has led to the package store. Liggett & Myers last year took over the U.S. importer of J & B Scotch whisky. American Tobacco bought nearly all of Chicago's James B. Beam Distilling Co. last fall, and will soon purchase control of the Buckingham Corp., importer of Cutty Sark Scotch. When its turn came, P. Lorillard Co. decided to try a little tippling too.

Useful Shot. In Manhattan last week, Lorillard announced plans...

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