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"Oly" is short of Olympia Beer. Leopold Schmidt, a German immigrant from Montana founded The Capital Brewing Company in Tumwater, Washington. In 1902, the brewery became Olympia Brewing Company, producing Olympia Beer. Statewide Prohibition, which began in January 1916, four years before National Prohibition, ended beer making operations. After Prohibition ended, Olympia Beer was again for sale beginning in 1934. The following year, Olympia introduced a new “stubby” bottle of beer, and it was so popular that most breweries began using the same bottle style. In 1950, Olympia introduced their first canned beer, and their first “zip-tab” in the 1960s. Though the brewery itself closed in 2003, Olympia Beer is still available through the Pabst Brewing Company which owns the brand.