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President Truman Praises Pianos in the
White House and Plays During Telecast
The piano came in for its share of
prominence during the televised tour
of President Truman throughout the
the Steinway grand as seen in the ac-
companying illustration w h i c h was
taken from the screen and played
dealer in Washington, D. C. and played
a few chords, finishing by running his
fingers gingerly down the keyboard.
According to news releases, the Presi-
dent stated that "some time or other,
I'm hoping to have a reception and
have a two-piano concert here with two
of the world's greatest pianos."
PRESIDENT TRUMAN PLAYS ON THE WHITE HOUSE STEINWAY GRAND AND ALSO THE BALDWIN CONCERT GRAND PIANO
WHICH WAS RECENTLY PLACED IN THE EAST ROOM, DURING THE TELEVISED TOUR OF THE RENOVATED WHITE HOUSE
WITNESSED BY SEVERAL MILLION PEOPLE ON MAY 3RD
White House on Saturday. May 3rd.
When he reached the East Room, he
spoke in complimentary terms of
pianos, and upon the suggestion of
Frank B. Bourgholder of the National
Broadcasting Company, he sat down at
through a small portion of the Ninth
Sonata.
Then he walked across the room and
stood before the Baldwin concert grand,
which was recently delivered to the
White House by Hugo Worch, Baldwin
Regulation W Suspended by
Federal Reserve Board as of May 7th
The Federal Reserve Board suspend-
ed controls on installment credit pur-
chasing on May 7th but recommended
that Congress continue its authority to
reinvoke the curbs should circum-
stances warrant.
The decision means no government
requirements as to down payments or
time to pay for automobiles, furni-
ture, radio and television sets, ranges,
washing machines and scores of other
items normally bought "on time."
The suspended controls, adminis-
tered under the Reserve Board's Regu-
lation W T , were issued Sept. 8. 1950.
They were to expire with the act on
June 30.
Regulation W required a one-third
down payment for passenger automo-
biles with a maximum credit period
of eighteen months. It required 15 per
cent down and a payment period of
eighteen months maximum for nearly
all appliances including television sets
radios, radio-phonographs, and phono-
graphs.
Home Mortgages Unaffected
Today's suspension of Regulation
W did not affect Regulation X, under
which the Government sets down pay-
ments and mortgage terms on homes
and on credit extended for major home
alterations, improvements and repairs.
The press statement of the Federal
Reserve Board issued on May 7th was
as follows:
"Effective immediately the Board of
Governors has suspended Regulation
W relating to consumer installment
credit.
"This action was taken after careful
review of developments in the economy
generally and in the markets directly
affected by the regulation. The Board
has recommended to the Congress that
authority for the regulation of con-
sumer credit be continued after June
30 so that it could be reinstated should
subsequent developments necessitate
such action."
At another time during the tour of
the White House, he mentioned the
spinet piano which was presented to him
last year, parts of which were manu-
factured by each and every American
piano manufacturer.
Furniture Association Members
Praise Gulbransen Plant
On May 15th, thirty members of the
Chicago Furniture Manufacturers Asso-
ciation, of which Hampton E. Tonk,
Vice-President of Tonk Manufacturing
Co., is an officer, were given a personal-
ly conducted tour through the new mod-
ern ground floor plant of the Gulbran-
sen Co. in Melrose Park, 111.
Although Mr. Tonk was unable to be
present, he wrote a letter to George A.
McDermott. Vice-President of the Gul-
bransen Co., in which he stated: "Very
unfortunately. I was called away and
was unable to attend our plant visita-
tion at your plant Tuesday, April 15th.
However, I have since had an opportu-
nity to talk to the two men from our fac-
tory who visited your plant, and also
some of the other members of the asso-
ciation, and they have all said that the
trip through your plant was most en-
joyable and educational, and also that
you have a plant there that is one of
vhich you may be justly proud."
THE MUSIC TRADE REVIEW, MAY. 1952