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! OBITUARIES
MRS. KATHERINE H. CHACE
Mrs. Katherine H. Chace of Leonia,
N. J. died on Monday, Aug. 27, after a
lingering illness.
She is survived by her husband, Carle-
ton Chace, editor of The Music Trade
Review, two sons, Carleton, Jr. of
Bogota, N. J., and Secor D. Chace of
Leonia; two daughters, Mrs. Constance
S. Lankenau and Mrs. Doris S. O'Toole
of Leonia. Another son, Stanley A.
Chace, died in 1939 as the result of an
automobile accident. She is also sur-
vived by a sister, Mrs. Violet Crouch of
Noroton, Conn., and eight grandchil-
dren, Mrs. L. Herbert Boyer of Wild-
wood, Justeen Chace of Bogota, Kather-
ine, Barbara, Stanley and Donald Chace,
Nancy Lankenau, and Kevin Chace
O'Toole all of Leonia.
Funeral services were held at the
Myers funeral home in Englewood
Wednesday evening, Aug. 29, with the
Rev. John R. McGrory, former rector
of All Saints Episcopal Church in
Leonia, officiating. Interment was at
Brookside Cemetery, Englewood.
CHARLES ELLIS HUNTER
Charles Ellis Hunter, retail salesman
in the piano department of John Wana-
maker, New York, for the last 27 years,
passed away after a long illness on
August 8th. Previous to his connection
with the John Wanamaker piano depart-
ment, he was with the Sterling Piano
Company in Brooklyn.
Mr. Hunter, who was 78 years of age
at the time of his death, was a 32nd De-
gree Mason and a Masonic service was
held on Thursday, August 9th, at the
Fairchild Funeral Home, Atlantic and
Graham Avenues in Brooklyn.
After the service, the remains were
shipped to Viriginia, where the inter-
ment took place at his old home.
NAPT Convention
(Continued from Page 21)
pianist and teacher, of Akron, Ohio.
Miss Ruth is Editor of "The Teachers'
Forum" a regular feature of Tuners'
Journal. The program arranged for the
ladies was in charge of Mrs. James H.
Alverson, Sr. The convention closed with
the annual banquet, in the Empire Ball-
room of the hotel. Frank S. Pursley, In-
structor of Music at the Academy of the
Blind at Macon, Ga., and who was the
convention pianist, furnished the dinner
music.
Officers elected for the ensuing year
were—John E. Kohl, Xenia, Ohio, presi-
dent; Anson D. Overdorff, Washington,
D. C, vice president; F. X. Friedel,
Cleveland, Ohio, treasurer; Laban A.
Nichols, Toledo, Ohio, and James H.
Alverson, Jr., Atlanta, Ca., directors.
The tentative site for the 1952 convention
is Philadelphia, Pa.
FLY BRAND TUNING PINS
The celebrated Fly Brand Tuning Pins, known
for their exceptional tonal qualities, are again
available.
THERE IS N O T H I N G FINER
•
The quality is the same today as it was over 50
years ago.
•
Fly Brand Pins are made of specially drawn wire,
absolutely uniform in every detail.
WE INVITE YOUR INQUIRIES:
Sole Agents in U.S.A. and Canada
AMERICAN PIANO SUPPLY CO.
Division of Hammacher, Schlemmer & Co.
6 WEST 20 STREET
26
The Board of Governors of the
Federal Reserve System issued an inter-
pretation of Regulation W as of Sep-
tember 10th, 1951, concerning the pro-
visions of the Defense Production Act
amendments under Regulation W Con-
sumer Credit which permit trade-ins to
be counted for all or part of the mini-
mum down payment required under the
regulation. The statement, which in the
form of an interpretation of the regula-
tion, emphasizes that the new provisions
of the statute and the regulations do not
repeal the requirement that a down pay-
ment must be obtained, and it stresses,
also, that a trade-in allowance cannot be
counted against the down payment re-
quired under the regulation except to
the extent that it reflects a bona fide
trade-in or exchange of property having
a value that bears a reasonable relation-
ship to the amount credited.
The interpretation points that the
two provisions of the regulation which
are especially important are Section VI
(C-3) which requires that a trade-in
be described in the registrant's records
and that the registrant set out "a mone-
tary value assigned thereto in good
faith." The other is Section VIII (J-7)
which requires that "any rebate or sale
discount" be deducted in calculating the
"cash price" of the listed article and
that the required down payment be de-
termined on the basis of the "cash
price . . . net of any rebate or sales
discount."
Musical Instrument Manufacturers
Industry Advisory Committee
Now Available . . .
•
Federal Reserve Board Issues
Interpretation of Regulation W
Since 1848
NEW YORK 3, N. Y.
The National Production Authority,
U. S. Department of Commerce, has an-
nounced the membership list of the
Musical Instrument Mfrs. Industry Ad-
visory Committee as follows:
N. J. Geib, Vice President, Geib, Inc.,
Chicago, III.; T. M. McCarty, President,
Gibson, Inc., Kalamazoo, Mich.; Roy N.
Bailey, President, Jackson Guldan Vio-
lin Co., Columbus, Ohio; Wm. Kratt,
President, Wm. Kratt Co., Union, N. J.;
E. P. Diesbach, Krauth and Benning-
hoefen, Hamilton, Ohio; C. Frederick
Martin, President, C. F. Martin and Co.,
Inc., Nazareth, Pa.; Frank Gibson, Jr.,
Vice President, National Musical String
Co., New Brunswick, N. J.; Donald D.
Randall, Gen. Mgr., Radio and Tele-
vision Equip. Co., Santa Ana, Calif,
and Donald C. Lomb, Waverly Musical
Prod. Co., New York, N. Y.
THE MUSIC TRADE REVIEW, SEPTEMBER, 1951