Can anyone please give me some more information about this bottle of Red Label?

I guess it's post 1936 as the label states 'By appointment to the late King George V'. It does have some 'solids' floating about when shaken but is perfectly clear.

The bottom of the bottle has the letters JW with 124A1(orAI) beneath. All other details should be apparent from the photos.

So is it drinkable? Does it have any collectible value?

Thanks in advance for any help you may be able to give.

http://img844.imageshack.us/i/jw01.jpg/
http://img12.imageshack.us/i/jw02g.jpg/
http://img205.imageshack.us/i/jw03.jpg/
http://img294.imageshack.us/i/jw04.jpg/
http://img815.imageshack.us/i/jw05.jpg/
http://img203.imageshack.us/i/jw07.jpg/