Being close to bankruptcy and owing him a substantial amount of money, Col. E. H. Taylor sells the O.F.C. Distillery and the Carlisle Distillery to George T. Stagg. Just 4 years later, lightning strikes and burns it down in “The Great Fire”. A year later, Stagg would found the E.H. Taylor Jr. Company with himself as President, and E.H. Taylor as the Vice President. Due to their eventual hatred of each other, Stagg would have to rename the distillery to George C. Stagg and Co. in 1890.