Music Trade Review

Issue: 1928 Vol. 86 N. 8

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
News Number
THE
VOL. 86. No. 8
REVIEW
Published Weekly.
Federated Business Publications, Inc., 420 Lexington Ave., New York, N. Y., Feb. 2 5 , 1 9 2 8
Single Copies 10 Cents
$2.00 Per Year
Sherman-Clay Sales for 1927
Market street, this city, for a number of years.
Gross Volume for Past Year Shows Total of $8,111,570 With
XT
T-»
r

T^
c

Branch stores
i r>
Net Fronts in hxcess or $536,000 — Ratio or Current
»
T • i *i* •
ni
over by the W. F. Frederick Piano Co. The
question of w h c t h e r o r n o t s o m e of t h e b r a n c h
stores will be continued will be decided later.
An official of the company stated that it was
AN FRANCISCO, CAL., February 17.—Net sales of Sherman, Clay & Co. in 1927, made pub- found to be more satisfactory to operate the
lie in a report issued through Sherman, Clay & Co. yesterday, totaled $8,111,570 and net
profits were in excess of $536,000. While not quite as large as the previous year, the
earnings nevertheless were two and three-quarter times preferred dividend requirements of $7
per annum, or equal to about $20 a share in 1927.
Earnings last year were $625,000, but this followed net sales of close to $10,000,000. The
business as one company instead of having two
concerns as has been the case in the past.
VV i p P**eHet*intc C^O
* A '
^ » ^ l i^iv ^MV,
ratio of net profit to net sales was actually bet-
Assets
1927
1926
* 180 9S3 $ 223 493
5 728136
5 201069
o'csn'787 V;7R W
,
Receivables
T
tnr - n " c
c
inventories
i,jou,/o/


Total assets
180,172
_
590,440
stock
Surplus
Total liabilities
-
$9,111,971 $9,990,221
J*
PITTSBURGH. PA., H-bruary 20.—Whole page ad-
vertisements are being used by the W. F. Fred-
erick Piano Co. announcing a series of special
sales of pianos due to their impending removal
from their present quarters, 635 Smithfield
-
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,-
.
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year. It is payable quarterly on April, July and street, where the firm has been located for the
October 15, 1927, and January 15, 1928.
past 20 years. The lease on the building ex-
- ~
P ires ^
}> a n d a "™ ^ t o Jje named later
' S l ° \ C t a k e n ° VCr
burgh
D a v i s , BurkhaiTl & T y l e r
^ _^L
Liabilities
Notes to banks
$1,300,000 $2,672,553
Ap :
n U n a v
3 1 2 SOS
J
Accounts pay . . . . . . . . . . . .
^ J ^
Dividends pay Jan. ID . „
,
, ,. b
n f
71950
70512
1
'
'_
J_;
'_
$1733 630 $2,743,065
Capital stock—
p prf
P ;:r
P a n y added nearly $100,000 to surplus,
after providing for the prior preferred dividend,
which was paid January 15, 1928. The surplus
n o w
stands at $829,340 against $637,158 a year
a
&°-
T h e annual 7
P e r c e n t P r i o r preferred stock
dividend was voted yesterday for the entire
O,J/ O , J J /
Current assets
$8 489 876 $9 002 899
Furniture, fixtures'V. '.••'.'• 404,873
377,709
Investments and securities
D
d c
Holding RemOVal Sale
t h e com
ter in 1927 than in 1926
Following is the balance sheet:
Cap.
also in operation in ciarks-
it is understood that the business win be taken
T
Assets to Liabilities S h o w s I m p r o v e m e n t
S
are
burg, W. Va., Steubenville and Barnesville, O.
Announce Retirement
,
t
w
n
„,». r
v
w v
b y thlS w e l l
" know "
Pltts
"
^
'
Head Buffalo Radio Ass'n
Business of Well-Known Wheeling, W. Va.,
Concern to be Taken Over by W. F . Fred-
erick Co.-Future Plans Not Decided
BUFFALO, N. Y., February 20.-Buffalo Radio
*
Trades Association announces the election of
WHEELING, W. VA., February 20.—Announce-
the following directors to serve two year terms:
inent is made of the impending retiring from
Elmer Metzger, Benjamin Neal and Edward
business of the Davis, Burkham & Tyler Music
Young. They succeed Edward T. Ball, Emil
Co
- - w h o h a v e operated a large music store on Sommer and Thomas A. White.
——
"
f S : ff»5S President H e r m a n n Irion of C h a m b e r
200000
- 2 ^
°
Appoints J u n e Convention C o m m i t t e e
r
-..$5,549,000
829,341
637,158 M a d e
.'$V,UT&\ " w ^ M
During 1927 the company retired $153,500 of
its prior preferred stock, leaving but $2,656,500
of the original issue of $3,000,000 still outstand-
ing. The process of retiring this issue will
continue as rapidly as sound business permits.
While gross and net were slightly less than
in 1926, the ratio of current assets to liabilities
was considerably better.
The report shows
current assets of $8,489,876 against current lia-
bilities of $1,661,680,' or'a ratio of more than 5
to 1. This compares with a ratio of 354 to 1
a year previous.
As a result of the highly satisfactory year,
U p o f E a s t e r n
r
Members of Chamber Executive Committee and President of the
N e w Y o r k P i a n o
Merchant's Association
p R E S I D E N T HERMANN IRION of the
* Music Industries Chamber of Commerce has
announced the appointment of the General Con-
vention Arrangements Committee, to have
charge of matters of convention policy and gen-
cral supervision over the arrangements for and
conduct of the convention of the music indus-
tries, to be held at the Hotel Commodore, New
York City, the week of June 4th.
Inasmuch as the convention is to be held
in New York this year, the committee is made
up of the eastern members of the Executive
3
Committee of the Directors of the Chamber
with the addition of L. Schoenewald, President
of the New York Piano Merchants' Associa-
tion.
Special committees will be appointed
later to have definite charge of the various con-
vention activities.
The following are the 'members of the Gen-
cral Convention Arrangements
Committee:
Mark P. Campbell, Walter W. Clark, Max J.
deRochemont, William J. Haussler, Richard W.
Lawrence, C. J. Roberts, L. Schoenewald and
Herbert Simpson.
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
The Music Trade Review
Fifty-three Kroegers for
the Schools of St. Louis
FEBRUARY 25, 1928
west of its present quarters at 254 West Fed-
eral street. This concern will have more space
for all departments in the new location and
plans also to expand some of them. No an-
nouncement is made as to when the formal
opening of the new store will be held. The
company now has a removal sale in progress.
Aeolian Co. of St. Louis Receives the Order From St. Louis New York Dealers to
Meet February 28
Educational Authorities — Station WIL Broadcasting
Hermann Irion and Federal District Attorney
Music Lesson Series — Lehman in the East
Tuttle to Be Principal Speakers at the
Gathering
S
T. LOUIS, MO., February 20.—One of the largest single contracts for pianos ever awarded
in St. Louis was given to the Aeolian Co. of Missouri this week by the Board of Education
of St. Louis which recently requested bids from all of the dealers of the city for instru-
ments to be used in the public schools.
The contract calls for fifty-three pianos, and was awarded to the Aeolian Co. on their low
bid. The type of instruments specified in the contract is the Kroegcr Piano, Style 100.
Announcement of the successful bidder and
the awarding of the contract was the outstand- ily in Chicago. He announced that his future
ing feature of the trade in St. Louis during the plans are not yet determined. His financial and
past week. Practically all of the dealers in bookkeeping system has worked out so splen-
the city had submitted estimates to the board, didly for the Emerson Piano House, however,
and the opening of the bids was awaited with that he has had several requests to put it into
keen interest. Needless to say, the Aeolian effect for other music merchants, and it may
Co. was considerably elated over the result.
be that he will adopt this as a profession.
The appearance in St. Louis of Ignace Jan
W. Curtis Busher and John F. McDermott,
Paderewski, internationally known pianist and partners of the Emerson Piano Co. with Mr.
Duo-Art artist, had a stimulating effect upon Spayd, gave short talks expressing regret that
the trade generally in the city during the past their former partner is leaving.
week. Paderewski appeared in a recital at the
The "Emersonians" presented Mr. Spayd with
Odeon, and the Aeolian Co., local Duo-Art a very handsome walrus traveling bag, fully
distributor, waged an effective publicity and equipped, and Messrs. Busher and McDermott
advertising campaign to coincide with his ap- gave him a Hamilton watch, engraved.
pearance here.
Those present at the dinner included Harry
At the close of his program a delegation of A. Spayd, Mr. and Mrs. W. Curtis Busher, Mr.
his countrymen presented to Paderewski a sil- and Mrs. John F. McDermott, Mr. and Mrs.
ver case inscribed with a tribute from the J. M. Turner, Mr. and Mrs. Harold Wandel,
Polish people in St. Louis, and a silver plaque Miss Sybil Born, C. D. Pearch, Ralph T. Mc-
engraved with a picture of the statue of St. Neely, Thos. Kirk, Dan Noland, Ted W. Per-
Louis on Art Hill. The presentation was made kins, Gulbransen traveler.
by Judge Frank B. Grodski, after which Mrs.
Marion Waschviak presented Mme. Paderewski
Plans for Music Week
with a huge sheaf of red and white roses.
Local dealers again co-operated with the
Observance in the Home
Radio Corp. of America and the National
Broadcasting Co. in presenting the second of National Music Week Committee Issues Special
the series of recitals by Walter Damrosch, di-
Folder Setting Forth Plans for Family Ob-
rector of the New York Symphony Orchestra.
servance of National Music Week
The dealers again installed radio sets in the
various schools of the city, thus enabling
The National Music Week Committee, in an-
additional thousands of school children to listen ticipation of the forthcoming celebration of Na-
in on the experiment.
tional Music Week in May, has issued an inter-
Considerable interest is being manifested by esting and unusual folder entitled: "Home
the local trade in the action of radio station Night in National Music Week," which outlines
WIL in inaugurating a series of music lessons in considerable detail ways and means for ob-
to be broadcast over the station. Beginning serving music week celebration in the home
last week the station will broadcast two les- circle. It is suggested that there be singing in
sons each week for children. Mrs. Jessie the home, family instrumental programs, the
Hyatt, musical director of the station, is in study of new instruments, the listening to spe-
charge of the project.
cial program, on the radio and phonograph,
Phil Lehman, president of the Lehman Piano musical games, home music memory contests,
Co., left St. Louis early this week for New and many other plans for interesting the family
York, where he will confer with Knabe officials group.
and others.
Mark Mayer, of the M. Schulz Co., and Floyd
Masters, of the American Piano Co., were vis- Charles Ramsey Corp. Buys
itors in St. Louis during the past week.
Haas Hardware Business
H. A. Spayd Resigns as
Emerson House Manager
Personnel of Decatur, 111., Music House Gives
Farewell Dinner to Him Upon His Resigna-
tion
DECATUR, III., February 18.—The personnel of
the Emerson Piano House of this city tendered
a dinner to Harry A. Spayd on Wednesday,
February 8, upon his resignation from the com-
pany as manager.
Mr. Spayd is leaving for a "wood-chopping
festival" at his father's farm down in New Eng-
land and when he returns he will join his fam-
The piano hardware business of Henry Haas
& Sons, Inc., Plainfield, N. J., has been purr
chased by the Charles Ramsey Corp., the well-
known manufacturer of piano hardware of
Kingston, N. Y. Haas & Sons, however, will
continue the music wire business, which will be
handled personally by H. L. Haas, who is well
known to the trade.
Yahrling-Rayner Go. to
Move to New Warerooms
YOUNGSTOWN, O., February 18.—The Yahrling-
Rayner Co., well-known local music house,
plans to move soon to its new store located just
The New York Piano Merchants' Association
will hold its next meeting at the Hotel Breslin,
Twenty-ninth street and Broadway, on Tuesday
evening, February 28, at 630 o'clock. The ad-
vertising managers of the leading New York
newspapers will be present to join in a dis-
cussion on piano advertising. Other guests will
include Hermann Irion, of Steinway & Sons,
president of the Music Industries Chamber of
Commerce, and Hon. Charles Tuttle, United
States attorney, who will speak on "Misleading
Advertising." Norman Joliffe, soloist of the
Marble Collegiate Church, will sing several
selections during the dinner. Louis Schoene-
wald, president, and Albert Helming, secretary,
are making special efforts to have a large turn-
out of regular members.
Forbes & Wallace Manager
Visits New York Trade
William F. Larkin, buyer and manager of the
piano and music departments of Forbes & Wal-
lace, Inc., of Springfield, Mass., was a visitor
in New York during the entire last week.
To a representative of The Review who man-
aged to interview him between his many ap-
pointments, he stated that 1927 proved one of
the most successful, from a viewpoint of vol-
ume, that was ever enjoyed in the music de-
partments of the Forbes & Wallace store, and
that he was spending the entire week complet-
ing the arrangements for his lines in anticipa-
tion of an even more productive year for 1928.
Among the many factories visited by Mr.
Larkin during the week were those of the
American Piano Co., Kohler & Campbell, Inc.,
Hardman, Peck & Co., Hazelton Brothers, Inc.,
and the Brambach Piano Co.
M. O. Neil Go. to Group
All Music Departments
AKRON, 0., February 18.—Music departments of
the M. O. Neil Co. will be grouped in the new
building now nearing completion at West State
and South Main streets, it- was announced by
executives of the company this week. Removal
to the new building will take place late in
March, the exact date depending on the progress
workmen make on the exterior finishing within
the next ten days. A removal sale is in prog-
ress at the old store, and according to music
department heads sales have been most grati-
lying and much merchandise is being moved.
Kolster for Sherman, Clay
SAN FRANCISCO, CAL., February 17.—Sherman,
Clay & Co. announce that they have made an
arrangement with Federal Brandes, Inc., New-
ark, N. J., manufacturers of the Kolster radio,
whereby the company will handle the Kolster
line throughout its chain of stores on the Pacific
Coast.
Harry Keating has opened a new music store,
called the Music Shoppe, at Lincoln and Pacific
avenues, Wildwood, N. J., handling pianos,
phonographs, small goods and musical acces-
sories.

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