Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
APRIL 15,
1922
THE
MUSIC
TRADE
47
REVIEW
TAKE OVER J*EG1NA ASSETS
NEW COLUMBIA ARTISTS
STARR CO. DECREE UPHELD
Creditors' Committee Incorporated for the Pur-
pose of Settling the Affairs of Bankrupt Con-
cern—Will Start Work at Once
Hart Sisters Now Making Series of Records for
Columbia Library
Circuit Court of Appeals Affirms Decision Ren-
dered by District Court Dismissing Bill o:
Complaint Against the Starr Piano Co.
At a meeting of the creditors of the Retina
Co., held at the office of the Referee in Bank-
;uptcy on March 27, the referee approved a p.an
for the purchase of the assets of the company by
the Creditors' Committee. The plan was car-
ried out and the Regina Corp. was chartered
under the laws of the State of New Jersey with
a capital of 10,000 shares of no par value stock,
for the purpose of taking over the assets and
business of the Regina Co.
It was the original intention of the committee
to issue a share for each dollar of indebtedness.
It was found, however, in order to carry out
this plan, the fee of the Secretary of State would
have been in excess of $10,000.00. It therefore
was decided to have fewer shares and issue one
share for each $100.00 of indebtedness. This
necessitates there being fractional shares, but it
was held that this is not objectionable.
An organization meeting of the new company
was held and the following officers and directors
elected: W. L. Desnoyers, president; C. M. Cub-
bison, vice-president; Eugene F. E. Jung, secre-
tary and treasurer; James F. Shaw and E. F.
Fretz, directors.
Of the above, Mr. Fretz is president of the
Light Manufacturing and Foundry Co., at Potts-
town, Pa., and was the largest merchandise
creditor and was on the Creditors' Committee.
Mr. Jung also is on the Creditors' Committee
and is by profession a statistician and economic
expert. Mr. Shaw is of the banking house of
Knauth, Nachod & Kuhne. Mr. Cubb'son is
a sales manager of large experience and will
take charge of the sales of the new company.
Mr. Desnoyers has been acting as receiver aid
his training and experience in reorganization
work should be of value to the company.
The following trustees were appointed: W. L.
Desnoyers, John Bernhard and D. L. Murphy.
These have qualified and will superintend the
winding up of the affairs of the old Regina Co.
It is expected that between now and the tenth
of May it will be possible to pay off all preferred
claims, liquidating expenses, etc., and the com-
pany will then be prepared to send a statement
to credit agencies and to its stockholders.
ROUSH TAKES PERSONAL CHARGE
President of Standard Talking Machine Co. to
Devote Ent're Attenton to That Concern
PITTSBURGH, PA., April 10.—In announcing the
resignation of French Ntstor, who goes to
Florida to take over the business of the Florida
Talking Machine Co. in Jacksonville, which he
will operate as the French Nestor Co , J. C.
Roush, president of the Standard Talking Ma-
chine Co., of which Mr. Nestor was vice-president
and general manager, states that he has so ar-
ranged his affairs that he will be able to devote
his entire personal attention in the future to the
business of the Standard Co., with Wallace Rus-
sell as his right-hand man and manager.
NEW QUARTERS IN LEWISBURG, 0 .
LEWISBURC;, O., April 10.—The Columbia Music
Shop recently moved into larger quarters on
the Public Square, this city, where a good line
of Columbia Grafonolas and records are car-
ried, together with a complete stock of sheet
music and supplies. A department of instruc-
tion in piano, voice, etc., is conducted in connec-
tion with the store. E. Vernon Moore, the
manager, is a member of the Avonmoor Enter-
tainers, a popular local organization.
The Hart Sisters, who have one of the most ar-
tistic and attractive "sister" acts on the vaude-
ville stage to-day, have been added to the Co-
lumbia record library and their first record, "Th(
Little Red School House," will be issued June 1.
Irene and Bernice Hart, comprising the Hart
Sisters, are only nineteen and seventeen years
of age, respectively, but they have already won
unusual success on the vaudeville stage. Van
and Schenck, famous vaudeville team and exclu-
sive Columbia artists, heard them sing at a bene-
fit some time ago and were so impressed with
their talent that they introduced them to Wil-
liam Rock, the well-known musical comedy star
and producer.
Shortly afterward they were engaged by Mr.
Rock for his "Silks and Satins Revue," where
they were received as one of the hits of that
musical comedy. They have just finished a very
successful tour on the Keith vaudeville circuit
and their addition to the Columbia record cata-
log adds another name to the long list of vaude-
ville stars who record for Columbia.
VICTOR SUIT DISMISSED
District Court Finds for the Defendants in Suit
of Victor Co. Against General Phonograph
Corp. for Alleged Infringements
J*udge C. W. Sessions, in the U. S. District
Court in Grand Rapids, Mich., on April 5,
handed down the following decree and decision
in the action brought by the Victor Talking Ma-
chine Co. against the General Phonograph Corp.
and the General Phonograph Corp. of Illinois
for alleged violation of the Johnson Tone-Arm
Patents Nos. 814, 786 and 814,848. The original
bill of complaint was filed in Grand Rapids
on November 1, 1920.
In his decision, Judge Sessions said: "Apply-
ing the decision of the Circuit Court of Appeals
of this Circuit in the case of Cheney Talking
Machine Co. vs. Victor Talking Machine Co.,
it is impossible to avoid the conclusion that none
of the defendant's machines infringes the claims
of the patents here in suit. Hence a decree will
be entered in each case dismissing the bill of
complaint with costs to the defendant to be
taxed."
The decree itself reads: "The cause having
heretofore been heard upon pleadings and proofs,
argued by counsel and submitted; upon consid-
eration of the premises, it is now ordered, ad-
judged and decreed that the bill of complaint of
the said complainant be and hereby is dismissed,
and that the said defendants do recover against
the said plaintiff their costs in this cause, to
be taxed, and that the said defendants have ex-
ecution thereof."
The finding of the court is regarded as a most
important one, and has been awaited with great
interest by members of every branch of the talk-
ing machine trade.
RECORDS F0R_FAMlLY ALBUMS
A dispatch from London, England, says: "The
family portrait album of the future will talk,
according to the makers of phonograph records
here, who declare that the demand for private
discs is increasing daily and that prices have be-
come very reasonable. They say that persons are
having records of their own accomplishments
made and are sending them to friends. Also in-
stead of sending letters or gifts some people now
talk onto a disc and send that by way of greeting.
The talk of children at various ages is being filed
away with their baby clothes."
The LJ. S. Circuit Court of Appeals for the
second district of New York, on April 4, handed
down a decision affirming the decree of the U. S.
District Court of February 11, 1921, dismissing
the bill of complaint filed by the Victor Talking
Machine Co. against the Starr Piano Co. for
alleged infringement of U. S. Letters Patent No.
896,059, granted August 11, 1908, to Eldridge
R. Johnson on the basis of lack of invention
and abandonment.
The decision was rendered by Judges Rogers,
Augustus N. Hand and Knox, sitting in the Cir-
cuit Court of Appeals, the opinion being written
by Judge Hand and representing a most ex-
haustive survey of the patent itself, as well as
of the development of the art of record manu-
facturing and various patents that have held a
prominent place in that development.
The opinion, which runs close to 2,500 words,
is a most interesting document from the stand-
point of those connected with the manufacture
and development of talking machine records.
Kenyon & Kenyon appeared as solicitors for
plaintiff. William Houston Kenyon, Richard
Eyre, John D. Meyers, George T. Dean and Ed-
gar F. Baumgartner, counsel, and Kerr, Page,
Cooper & Hayward as solicitors for defendant.
Parker W. Page, Drury W. Cooper and Thomas
J. Byrne, counsel.
CALLERS AT COLUMBIA CO.
W. S. Parks, C. F. Schaffarzick, A. E. Landon
and Others Among the Week's Visitors
W. S. Parks, manager of the Baltimore branch
of the Columbia Graphophone Co., was a visitoi
to the company's executive offices in New York
this week, accompanied by W. J. Boggs, president
of the Guttman Furniture Co., of Briscoe, Va.>
Columbia dealer. Mr. Briscoe was keenly opti-
mistic in his predictions regarding general busi-
ness, stating that his sales for the first three
months of the year had been very satisfactory in
every respect.
Other callers at the Columbia executive offices
recently included C. F. Schaffarzick, manager ot
the Spokane branch of the Columbia Co., and
A. E. Landon, general manager of the Columbia
offices at Toronto. Both oi these callers brought
with them pleasing reports as to the business out-
look in their respective territories.
COLUMBIA CREDFTJ>LAN ANNOUNCED
Creditors' Committee of Columbia Graphophone
Mfg. Co. Arrange for Indebtedness to Be
Frozen for Three Years—Plan Approved
The Columbia Graphophone Mfg. Co. credi-
tors' committees have worked out a plan under
which its indebtedness will be frozen from April
1, 1922, to August 1, 1925, after deduction of
an amount not in excess of aggregate bank de-
position September 15, 1921. The plan has been
approved by the banking creditors, the mer-
chandise and the supply creditors, it was said
this week. The debt is about $20,000,000 and
interest and principal, if due, will be deferred for
three years.
The plan calls for adjustment of interest on
all indebtedness to April 1 of this year. Pro-
vision is made for the appointment of a com-
mittee to represent the debt, which will be known
as the readjustment committee and composed
of M. M. Buckner, Benjamin Joy, J. C. Neff,
William C. Dickerman and G. Herrpan Kinni-
cutt.