Perhaps I can shed some light on this. As to the Swallows, they are likely a US group (studio musicians?) that Atlantic/Atco put together for this issue. I have several dozen books on the Beatles, many listing vinyl issues and recording sessions. I'll further research this and report back if I find anything further on the Swallows
The Amazing Beatles, Clarion 601 (mono)/SD 601 (electronically re-channelled stereo). It was the first release on Atlantic's Clarion label. The Beatles/Sheridan material has appeared many times on Polydor, MGM, Atco, Pickwick, and Savage. Many articles and record guides refer to the Clarion release as a bootleg. IT IS NOT! Counterfeits may exist, however! Clarion was a wholly-owned budget imprint of Atlantic/Atco. They released 21 titles in total.
The Beatles & Swallows tracks on the Clarion release repeat those released on Atco's 1964 "Ain't She Sweet" 33-169 (mono)/SD 33-169 (electronically re-channelled stereo), albeit in a different track order:
http://en.wikipedia.org/wiki/Ain't_She_Sweet_(album) It was Atlantic's own "cash-in" release of the early Beatles tracks, similar to MGM's, which Bruce Spizer alludes to in his article. BTW: I met Bruce several years ago at Beatlefest.
There is currently a stereo issue on Amazon.com for $150. There are two other listings currently on Amazon, at $25 & $35, respectively. Ebay lists 6 copies from $333 (sealed stereo) - $25.
Stereo pressings of this usually command a significantly higher price, since few kids had Stereo back then (except me.) IF it were counterfeited, the stereo would be more likely, since few of them were pressed originally (reportedly 1000 mono copies for each stereo copy.) It was also reputed that the last pressing of the Clarion reissue did not completely sell through, and many of them were destroyed, ala Atari games. Check your local landfill!
The mono label would be red (instead of green) on top, white and blue (instead of orange/gold) on bottom. Green, white and gold/orange labels were used for stereo pressings.
The back cover has three variations:
1: back cover lists the song titles and shows a "British flag" mock-up of the Amazing Beatles album;
2: lists the song titles and shows the correct cover to this LP, instead of the Union Jack mock-up;
3: back cover is "generic," listing no titles or catalog number.
The generic back cover is by far the most scarce, showing a list of "Great Artists from the Clarion Catalogue" (Ben E. King, Coasters, etc.)
Oddly, the Atco version of Ain't She Sweet is the one released on Anthology, Vol. 1. Atco reportedly "sweetened" that track with session drummer Bernard "Pretty" Purdie. Pete Best was the Beatles drummer on the original recording. I've met Pete and I understand completely why Ringo was a better choice. Perhaps they used the Atco version to avoid paying Pete royalties.
The name "Beat Brothers" was the original name used on the German Sheridan recordings BECAUSE Beatles sounded too much like the German slang for penis (peedle.)