American. Private Stock was started by Larry Uttal in company with EMI, after he left Bell Records (q.v.). According to 'Music Week' of the 25th of May 1974 EMI was to have a financial stake of just under 50% in the new concern, along with equal representation on the board and a say in policy matters. 'MW' of the 28th of September added that EMI also had an option to buy Private Stock after five years, but in September 1977 the opposite happened: Larry Uttal bought EMI's shares and became the sole owner ('MW', 17th September). Private Stock enjoyed around twelve months of independence, but despite Chart successes for David Soul, Samantha Sang and the Michael Zager Band its fortunes dwindled. It became one of EMI's licensed labels in October 1978 ('MW', 14th October), and a month later 'MW' reported that it was streamlining its artist roster ('MW', 11th November). According to the article only artists who had enjoyed success in at least one major territory would be retained - the list named Michael Zager, Cissy Houston, David Soul, Robert Gordon, Benny Mardones, Rosetta Stone and Samantha Sang. The end was in sight for the label: the only Private Stock single to appear in the 'New Singles' leaflet after that point was 'Life's A Party' by the Michael Zager Band (PVT-176; 2/79), and the lack of copies on Google suggests that that may never have reached the shops. The final mention of Private Stock in 'MW' came in the issue of the 3rd of February 1979, when an article stated that the company had closed its international operations office in London and would be functioning solely as a production company, based in New York. According to the report the licensing deal with EMI, struck the previous October, had merely been a step in the winding-down operation.
During the five years or so of its existence Private Stock managed to make a considerable impact on the Charts on both sides of the Atlantic. In Britain, David Soul had five Top 20 singles on the label, including two which went to No.1; Mud had four hits with it after their move from RAK; Frankie Valli registered three times, and several other artists had one-off successes. Blondie made their first appearance on Private Stock, though they had to wait until after their move to Chrysalis before they gained popularity. Singles came out in some profusion; they were numbered in a PVT-0 series, which reached PVT-176. Two different label designs were used: a brown one (1) until the end of 1977, and a later blue one (2) from January 1978 onwards - the vista shown is reportedly of New York from the East River. Manufacture and distribution were by EMI throughout the label's existence. Private Stock handled Chas Peate's Splash Records and performed the same function for the Canadian label Quality, albeit briefly (q.v. both). Larry Uttal died in 1982.
Copyright 2006 Robert Lyons.