SEPTEMBER
15, 1923
THE
MUSIC
TRADE
REVIEW
5
Survey Indicates Shortage of Pianos
Results of Questionnaires Sent Out by the Music Industries Chamber of Commerce Show That Shortage of
.Pianos May Be Expected by November-Replies From Manufacturers and Dealers Give
Every Prospect of Expectations for Remarkable Fall Selling Season
If retail business generally is as good this
Fall as fundamental business conditions indi
cate, and if the retail music business proves to
be as anticipated by music merchants in their
own localities, it appears inevitable that there
will be n early as great, if not a somewhat
g reate-r, shortage of pianos about the month
of Novem ber than there was las t year. In
the phonograph field, moreover, the improv e
ment in sales should be particularly' marked, as
co mpared with a year ago.
A study of reports received in answer to ques
tionnaires sent by the Music Industries Cham
ber of Commerce to music merchants and pi
ano manufacturers all over the country dis
c lose s a number of important facts.
Unfilled Orders Heavier
I n general, unfill ed orders of piano manufac
turers for delivery prior to the holiday s are
h eav ier than last year by 25 per cent or a little
less. In exceptional cases unfilled orders are
s maller than last year. .Production plans gen
erally call for at least 25 per ce nt he avie r ship
ments this yea r than last. There are compara
tively few manufacturers who are not making
plans for increased production to some exten t,
as compared with this period last year.
Summer Sh1pments Heavy
Compared to last Summer the bu si ness of the
past few months has been very satisfactory.
Shipments during June and July were 50 per
cent heavier than last year, roughly speaking.
Those plants which have shipp ed fewer pianos
this Summer than last yea r have, for the most
part, been working und er exceptional condi
tions. It is likewise apparent that production
during the Summer would have been heavier in
a lar ge number of plants if it had not been for
a shortage of labor.
Inventories Smaller
I nventories of completed instruments in the
plants of manufacturers are generally some
what smaller than at this time last year. Ap
IJarently the industry increased produ ction
without piling up finished goods. It is interest~
ing to note that where there has been an
increase in inventory over last year the manu
facturer has likewise enjoyed heavier ship
ments, and the increase has been due to delib
erate stocki n g up in anticipation of a Fall short
age. In the retail end' the decrease in inven
tori es of repossessed pianos is a sign of a mu ch
more health y condit io n.
Dealers' Inventories Slightly Higher
The returns from the music merchants show
only slight increases in inventories of new pi
anos, in spite of the substantially heavier pur
chases made during the Summer. In this con
nection it is to be remembered that at this time
last year merchants had, for the most part, been
successful in liquidating the heavy inventories
on hand a t th e beginning of the business de
pr ession. The present state of merchants' piano
inventories is readily understood, in view of th e
fact that retail sales gene rally during the Sum
mer have be~n at least 25 per cent heavier than
last year. It is a lso gratifying .to note that
this hnproved business has been shared by prac
tically a ll the 'merchaDts, over two-thirds of
them increasi ng their piano sales. Of those
who reported no incre~se more than two-thirds
ma na ged to keep them about. the same.
Small Advance OI1ders
Merchants have placed orders for an even
sma ller percentage of anticipated requirements
for pianos than at this time last year. Over a
third have not ordered any of their anticipated
requirements yet, and less than half have or
dered over 25 per cent of their anticipated re
qui rements.
The Phonograph Trade
With respect to phonographs a far healthier
condition is shown to exist than last year. Re
tail stocks are generally considerably smaller
and there has apparently been a healthy liquida
tion of stocks during the year. This also ap
plies to inventories of repossessed phonographs.
The failure of merchants to anticipate their Fall
and holiday requirements of phonographs is
eve n more noticeable than in the case of pianos.
N ea:rly half th e merchants have not yet
placed orders for any of their holiday require
ments, which is even more than at this time
las t year, when merchants were not particularly
optimistic about Fall and holiday business.
The following analysis is presented of the
replies to the questionnaire;
Replies of Piano Manufacturers
I. Orde rs for ~re·holiday delivery compa red with
year.
Over 50 per cent incr"e a se.. ... .. . ... ..... . .
per
25·50 per cen t increase ..................... . 20 per
Up to 25 per cent increase .................. 36 per
About the same .. ...... . . . ....... . ....•.... 28 pe r
Up to 25 per cent decrease ..... . .. •.... ....
25·5 0 per cent d ecrease............. . ........ 8 per
Over 50 per cent decrease .... .... .
last
cent
cent
cent
cent
cen t
2. Manufacturing plans fo r 1923 compared with last year.
Over 50 per cent increase.......
5 per cent
25-50 per cent increase .... .... .. . ...... . .... 31 per cent
Up to 25 per cent increase .. . ............... 42 per cent
About the same ... ...... ...... .. ..... .. .. . . 11 per cent
Up to 2S per cent decrease.................. 8 per cent
25-50 per cent decrease...................... 3 per cent
Over 50 per cen t decrease ........ ... ...... .
3. Shipments since June 1 compared with last .year.
Over SO per c~nt increase. ".. ........... .... 22 per ctnt
25-50' per cent increase ............... . . . .... 15 per cellt
Up to 25 per cenl inc reas e .. ..... ......... . . 31 per cen t
About the same...................... . .. ... 13 per cent
Up to 25 per cen t decrease.
11 per cent
25-50 per cent dec rease ..... .... . . .... ..... . 8 per cent
Ove r 50 per cent decrease .............. .
4. Inventory of unsold pianos com pared with
Over SO pe r cen t increase...................
25-50 per cent increase ............ , .... .. . . .
Up to 25 per cent increa se ...... .... . .. . .....
.. :~boul the same ................... .. .. .... .
Up to 25 per cent decrease................. .
25·50 per cent decrease................ . ...
Ove r 50 per cent decrease ..................
last yea r:
3 per cent
10 per cent
18 per cent
31 per cent
8 per ce nt
20 per cent
10 per cent
Replies of Retail Music Merchants
1. Inventory of new pianos compar ed with last
Over 50 per cent increase ...... ,........... 7
25-50 per cent increase .... ... ....... . ..... 11
Up to 25 per cent increase ... .... ...... .. . .. 27
About th e sam e ............................ 40
Up to 25 per cent decrease ............ .. .... 11
25-50 pe r cent decrease., ....... . ,..........
Ove r SO per cent decrease ............... . . .
year.
per cen t
per cent
per cent
per cent
per cent
per cent
2, Inventory of new phonographs compared with
year.
Over 50 per cent increase ..... . ... . ..... .. .
per
25- 50 per cent increase ..................... .
per
Up to 25 per cent increase .... .... ... . ..... . 16 per
About the same .... ... . . ... ... •...•.. ..... . 32 per
Up to 25 per cent decrease .... . ..... . . . . . .. . 23 per
25·50 per cent decrease ............. ........ . 12 per
per
Over 50 per cent decrease ... ..... . . ....... .
last
cent
cent
cent
cent
cent
cent
cent
3. Stock of repossessed pianos 'compared with last year.
Over 50 per cent increase ................. .
25-50 per cent increase ............. ,.. . ..... 2 per cent
Up to 2;; per cen t increase .......... . .. . . . 11 pe r cent
Abo ut the same .... ... ...........•... .. .... 37 per cent
Up to 25 per cent decrease ................ .18 per cent
25-50 per cent decrease; ..... " ...... . ..... 14 · per. cent
Over SO per cent decrease ..... ..... .. '... ... 18 per cent
4. Stock of repossessed phonographs compared with
year.
Over 50 per cent increase ...... . . ....... ...
per
25- 50 per cent increase................... . ..
per
Up .~o 25 per cent increase..... . ............
per
About the same .................•..... • .... 37 per
Up to 25 per cent decrease................ 20 per
25·50 pe r cent decrease................ . ... 9 per
Over 50 per cent decrease ... ..... ... ....... 26 per
last
cent
cent
cent
cent
cent
cent
cent
5. Percentage of ad dition al ,requirements up to January
1, 1924, for which orders have been placed. (a) Pianos.
75-100 ner cent. ...................... . . ... 10 per cent
per cent. ............... .. .. ... ..... .
per cent. ... . ..•.....................
25 per cent. .... .. ... . ......·..... ... .
...... . ............................ .
16
17
21
36
per
per
per
per
cent
cent
cent
cent
6. (b) Same for Phonographs.
75-100 per cent. .... ..... .... ..... . . ..•....
50·75 per cent .... .... ...... . ; .... . ........ .
25-50 per cent ....................•........
Up to 25 per cent. .......... .. .... ........ .
None .......................... . .... .... . .
9
16
15
13
47
per
per
per
per
per
cent
cent
cent
cent
cent
7. Sales since June I compared with last year.
Over 50 per cent increase . . . ........ .. ..... 10
25·50 per cent increase ...... .............. .. 23
Up to 25 per cent increase .................. 34
About the same . .......... ... . . .... . . ...... 20
Up to 25 per cent de crease ........ . .. :...... <)
25-50 per cent decrease.................. . ..
Over 50 per cent decrease .. .............. .
per
per
per
per
per
per
cent
cent
cent
cem
ce nt
cent
50·75
25· 50
Up to
None
...!
8. Forecast of Fall and holiday bu~iness.
69 per cent
Larger ........................... , ... . .
24 per cent
About th e same . .. .................. 0 .• • • • •
Smaller ....................... . .. ..... . .. . 7 per cent
u.
P. CORP. IN ITS NEW OFFICES
United Piano Executives Now Settled at the
Factories in Norwalk, O.
NORWALK, 0., September 1O.-The United Piano
Corp. is now pract icall y settled in its new ex
ecutive offices at the factory ' in this city. Th e
exe cutives of the company are all here at the
present time with the exception of Charles Mc
Conville, who is making a trip through Virginia
a nd Pennsylvania.
]. H. Williams, president of th e company,
will spend a large part of his time at the fac
tory, while]. H. Shale, treasurer, will remain
here permanently with the exception of an oc
casional trip to call on the trade. The sales
organization is now firmly established and O. P.
Settle, who has been traveling through Ne w
England, has also been assigned New York
State and New Jersey and h as already been
successful in establishing some new d ealers in
New York. Stuart H . Perry will take care of
the Middle West from Chicago to Denver. In
addition to the offices which have moved from
New York to Norwalk, the following members
of the New York staff are now established in
this city: H. B. Keilholtz, assistant treasur e r ;
C. T. Connolly, accountant, and Miss Florenc e
Hough.
Dealers all over the country are requested to
ttote the change in the address, as all corre
spondence should now be direct to Norwalk.
W. C. Whitney, secretary of the company,
who is now permanently located here, stated
to a representative of The Review this week ;
"We are now practically se ttled in our new
quarters and there is no question but that we
are now in a much bet.t er position than ever
before to give excellent service to our dealers.
By co-ordinating our facilities both in manu
facturin g and merchandising we shaH be able
to take care of the requirements of 't he trade
efficiently, accurately and promptly."
PARTICIPATES IN STREE10PENINO
CANTON, 0., September 1O.- George C. Wille,
head of the George C. Wille Co., of this city,
has been appointed chairman of the committee
of arrangements for the Cleveland avenue street
open;.ng, which will be held on September 26.
He is one of the forty retail merchants who are
fostering the celebration. Special sales, 'band
co ncerts, free dancing and other attra'ctions are
features of the affair. Rhine's Edison Shop is
also participating in the program.