Great nugget from Doug Hoverson's Land of Amber Waters: The History of Brewing in Minnesota brought back some fond memories of the quest for the five dollar case:
In 1954, Pfeiffer purchased Schmidt and used it to introduce their flagship beer to the area in addition to continuing the Schmidt brands. The introduction of Pfeiffer was a flop, except among college students seeking the cheapest available case of beer, but the crew at the brewery on West Seventh Street began a period during which they routinely proved themselves to be the most efficient brewery in whatever company owned them.
It's amusing to know that Pfeiffer served the same role in the late Eighties as it did in the Fifties.