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MAY
19, 1923
THE
MUSIC TRADE
43
REVIEW
ANNUAL REPORT OF VICTOR CO. SHOWS BIG INCREASE
Total Assets of Company Increased $2,308,137 During 1922—Other Indications of Its Strong Finan-
cial Position—Completion of New Factory Building Will Add to Output
Anyone who doubts the steady growth of
and possibilities for development in the talk-
ing machine business is likely to have those
doubts removed following a survey of the
twenty-first annual report to the stockholders
of the Victor Talking Machine Co. covering
the year 1922, issued recently.
The report shows that the total assets of the
company on December 31, 1922, were $45,734,892,
representing an increase of $2,308,137 during the
year. During the year the surplus account
showed a decrease of something like $28,000,000
as a result of the stock dividend declared before
the close of last year which served to raise the
amount of common stock to $34,999,900 as a
factor in the liability column.
The soundness of the Victor Co.'s financial
condition is reflected in the statement that in-
vestments in other companies now total $4,568,-
127, an increase of $2,957,044, and represented
by the taking over of the total stock interest
in the Gramophone Co., Ltd., of London. The
company also has marketable securities totaling
$6,261,900, an increase of $2,612,995 during the
year, and has on hand a cash balance of $8,635,-
377, representing an increase of $4,410,742. At
the present time the company has no bank
loans.
The report for 1922 indicates that the com-
pany made a steady and impressive gain, and
lildridgc K. Johnson, the president, states that
the directors of the company look forward with
great confidence to the growth of the company's
business and earnings during the course of the
current year.
In presenting the report Mr. Johnson states
that the strong financial condition of the com-
pany in the opinion of the directors warrants
proceeding with long-planned extensions, one of
these being the new eight-story record pressing
plant in Camden which is being pushed to com-
pletion rapidly and will be ready for occupancy
by July 1. This new building will enable the
company to concentrate its record manufacture
and make for greater efficiency and increased
output.
In this connection it is interesting to note
that in the report the present plant of the com-
pany, including land, buildings, machinery,
furniture, etc., is valued at $11,415,164.
NEW YORK SYMPHONY ORCHESTRA RECORDS FOR COLUMBIA
Walter Damrosch and the Famous New York Symphony Orchestra Sign Contract to Record
Exclusively for the Columbia Co.—One of the Most Important Happenings in the Musical World
The Columbia Graphophone Co. has obtained
an exclusive contract with Walter Damrosch
and the New York Symphony Orchestra. The
New York Symphony Society has never before
authorized recordings by this orchestra, and the
Columbia Co. has received the hearty congratu-
lations of its dealers upon securing this famous
organization as exclusive Columbia artists.
Walter Damrosch, conductor of the New York
Symphony Orchestra, enjoys the distinction of
Walter Damrosch
being one of America's foremost musicians as
well as the Dean of American conductors. For
thirty-eight years Mr. Damrosch has been in
command of the New York Symphony forces,
continuing the work commenced in 1871 by his
illustrious father, Leopold Damrosch, founder of
the orchestra. Walter Damrosch gave to New
York the first Beethoven Festival, and the first
performances of many of the symphonic works
of Brahms, Tschaikowsky, Sibelius and Elgar.
He has also encouraged American art by the
production of many works of native American
composers, and in 1914 the Columbia University
conferred upon Mr. Damrosch the degree of
Doctor of Music.
For two seasons, commencing in 1900, Mr.
Damrosch conducted the Wagner operas at the
Metropolitan Opera House, and for the follow-
ing season he was invited to conduct the New
York Philharmonic Orchestra. The symphony
concerts for young people as well as his lecture
recitals have brought Air. Damrosch prominently
before the American public as an educator. In
this series of concerts for young people, now
in its twenty-fifth year, Mr. Damrosch explains
and demonstrates the works of the masters for
thc purpose of inspiring a sound beginning in
musical taste.
The artistic activities of Walter Damrosch
and the New York Symphony Orchestra became
international when, on the official invitation of
European Governments, the orchestra made a
triumphant tour of Europe in the Summer of
1920. Mr. Damrosch was the recipient of un-
usual honors, being nominated a Chevalier of
the French Legion of Honor, an Officier of the
Order of the Crown of Italy and a Chevalier of
the Crown of Belgium. He also received the
gold medal of the Banda Municipale of Rome
and the silver medal of the Worshipful Company
of Musicians of London, at the same time being
elected an honorary member of that ancient so-
ciety.
Mr. Damrosch has composed two operas, a
choral work, a sonata for violin and piano, inci-
dental music for many symphonic numbers and
a number of well-known songs. The first Col-
umbia records by Walter Damrosch and the
New York Symphony Orchestra, which will be
ready in the near future, will form an invaluable
addition to the Columbia record librarv.
SAUL BIRNS PLANS SKY=SCRAPER
New York Talking Machine Man Planning
Huge Structure on Second Avenue to House
Headquarters of His Big Business
What is without question one of the most
ambitious building projects undertaken recently
by any music merchant is the plan of Saul Birns,
well known throughout the metropolitan talking
machine trade as a live wire, to construct a
twelve to fifteen-story building on the site of
the property, which houses his headquarters at
111 Second avenue, New York City. In a chat
with The Review Mr. Birns stated that pro-
vision will be made for the display of his line
of talking machines, musical instruments and
pianos on an elaborate scale. There will also
be a large auditorium where musical events
will be staged, and in addition, if present plans
go through, there will be a radio broadcasting
station.
SELLING MUSICAL
MERCHANDISE
By J. R. FREW
This is a practical book that describes
the methods pursued by a successful
music dealer in conducting his musical
merchandise departments. It covers
every routine problem incident to es-
tablishing and operating a depart-
ment devoted to band and orchestra
instruments.
This branch of the music industry
has had a very prosperous year and
an excellent opportunity awaits other
dealers who take it up. It requires a
small investment, gets quick turnover,
involves no risk and, in addition to
being highly profitable itself, increases
the sale of talking machines, records,
etc., and helps make a given store the
music center of its community.
READ THE CONTENTS^
THIS PRACTICAL BOOK
Chapter
From the Publisher.
Introduction.
PART I
THE PROBLEM OF BUYING
I. Buying in General.
II. Importance of Quality In Buying.
III. Where to Buy.
IV. Future Buying.
V. Buying for Special Sales.
VI. Some Don'ts for the Buyer.
PART II
THE PROBLEM OF PUBLICITY
VII. Advertising In General.
VIII. Space or Display Advertising.
IX. Advertising by Personal Contact.
X. Advertising Through Service.
XI. Direct and Mail Advertising.
XII. Advertising Through Musical
Attractions.
PART III
THE PROBLEM OF MANAGEMENT
XIII. Management in General.
XIV. Stock Display.
XV. The Care of Stock.
XVI. Inventory and Sales Analysis.
XVII. The Question of Credit.
XVIII. The Repair Department.
XIX. The Value of Co-operation.
PART IV
THE PROBLEM OF SELLING
XX. Selling In General.
XXI. The Sales Organization.
XXII. Psychology of Salesmanship.
XXIII. Collective Selling.
XXIV. Organizing a Band or Orchestra.
XXV. The Used Instrument Problem.
PART V
INSTRUMENTATION
XXVI. Musical Organizations and their
Instrumentation.
XXVII. The Principal Instruments of the
Band and Orchestra Described.
APPENDIX
List of Principal Musical Merchandise
Products
FREE INSPECTION OFFER
Edward Lyman Bill, Inc.
373 Fourth Avenue, New York.
You may send me, on five days' free inspec-
tion, your book SELLING MUSICAL MER-
CHANDISE. I agree to return it to you
within five days, or remit $2.00
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