PRESTO
THE PRESTO BUYERS'
QUIDE CLASSIFIES ALL
PIANOS AND PLAYERS
AND THEIR MAKERS
E.tablUhed 1884 THE AMERICAN MUSIC TRADE WEEKLY
PUBLISHED EVERY THURSDAY AT 407 SOUTH DEAR-
BORN STREET, OLD COLONY BUILDING, CHICAGO, ILL.
C A. DANIELL and FRANK D. ABBOTT
Editors
^
.econd-dass
m ^ . t th^Post Office, Chicago,
Subscription, %2 a year; 6 months, $1; Foreign, $4. Payable In advance 'No
rge in U. 3. Dosse«sions v Canada, Cuba and Mexico. '
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PUBLISHING CO., Chicago, III.
Advertising RatesfcVThree dollars per inch (13 ems pica) for single insertions.
Six dollars per inch per month, less twenty-five per cent on yearly contracts. Ths
Presto does not sell Its editorial space. Payment Is not accepted for articles of de-
scriptive character or other matter appearing 0 In the news columns. Business notices
will be indicated by the word "advertisement in accordance with the Act of August
24, 1912.
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Rates for advertising in the Tear Book issue and Export Supplements of The
Presto wiU be made known upon application. The Presto Year Book and Export
issues haxe the most extensive circulation of any periodicals devoted to the musical
instrument trades and industries in all parts of the world, and reach completely and
•ffectually all the houses handling musical instruments of both the Eastern and West-
am hemispheres.
The Presto Buyeis' Guide Is the only reliable Index to the American Musical
Instruments; It analyzes all Pianos and Player-Pianos, gives accurate estimates s i
their values and contains a directory of their manufacturers.
9 Items of news, photographs and other matter of general interest to the munis
trades are invited and when accepted will be paid for. Address all communications to
Prsste Publishing Co., Chicago. III.
THURSDAY, JANUARY 1, 1920.
TO CORRESPONDENTS.
PRESTO IS ALWAYS GLAD TO RECEIVE NEWS OF THE
TRADE—ALL KINDS OF NEWS EXCEPT PERSONAL SLANDER
AND STORIES OF PETTY MISDEEDS BY INDIVIDUALS. PRESTO
WILL PRINT THE NAMES OF CORRESPONDENTS WHO SEND IN
"GOOD STUFF" OR ARE ON THE REGULAR STAFF. DON'T SEND
ANY PRETTY SKETCHES, LITERARY ARTICLES OR "PEN-PIC-
TURES." JUST PLAIN NEWS ABOUT THE TRADE—NOT ABOUT
CONCERTS OR AMATEUR MUSICAL ENTERTAINMENTS, BUT
ABOUT THE MEN WHO MAKE MUSICAL INSTRUMENTS AND
THOSE WHO SELL THEM. REPORTS OF NEW STORES AND
THE MEN WHO MAKE RECORDS AS SALESMEN ARE GOOD. OF-
TEN THE PIANO SALESMEN ARE THE BEST CORRESPONDENTS
BECAUSE THEY KNOW WHAT THEY LIKE TO READ AND HAVE
THE OPPORTUNITIES FOR FINDING OUT WHAT IS "DOING" IN
THE TRADE IN THEIR VICINITY. SEND IN THE N E W S -
ALL YOU CAN GET OF IT—ESPECIALLY ABOUT YOUR OWN
BUSINESS.
A TRADE TRAGEDY
Every walk in life—every trade, profession and industry—is
visited by tragedy. It comes unheralded; it stalks ahead of triumphs
nearly won; or it skulks behind achievement already attained. Cham-
fort says that "tragedy has the great moral defect of giving too much
importance to life and death." And that statement fits the higher
material effort almost as well as it does the awe and sorrow of human
dissolution.
In the things of the intellect and art, the tragedies are often
impressive and epoch-making. In the chain of circumstances that en-
circles the starting and establishing of a great piano there are, for
instance, all of the elements and possibilities of tragedy. And such a
tragedy gave emphasis, last year, to the hazards of the piano industry.
There are some in the piano trade who will at once think of the
"Everett" and its splendid struggle for recognition; of its fine attain-
ment as a musical instrument; of the princely scale upon which it was
promoted; of the daring enterprise and almost heroic plans of its
management. And the tragedy is in the falling of the "Everett" from
the lists just as it had seemed to have won its place and promised to
pass most of its competitors for preeminence as "one of the world's
three great pianos."
It is probable that in the entire list, of fine American pianos there
is none that presents so romantic a history, or that could so nearly
furnish the subject for a book in which most music lovers would find
interest. Nor has there ever been a piano brought to anything like
the same distinction that suffered extinction so suddenly.
Of course the last thing here would be a criticism of the influ-
ences by which the "Everett" tragedy was brought about. That is
not to the point. The only purpose now is to say something that may
possibly seem to bring back again to life the splendid results of the
THE PRESTO YEAR BOOK
IS THE ONLY ANNUAL
REVIEW OF
THE MUSIC TRADES
10 Cent,; $2.00 « Year
late John Church's dream, and Mr. John Anderson's skill and Mr.
Frank A. Lee's hard and unusual effort.
We understand that the owners of the "Everett" have the ma-
terial effects of the industry intact and have refused many cash offers
for them. And we believe that the reason for rejecting the offers
is a mistake. It is that, were the fine scales, patterns and name to
be transferred, the parent house, which is still making pianos of lesser
note, might be in some way hurt far beyond the selling price of the
"Everett" effects. And so this artistic piano is side-tracked, the name
is losing its influence, and the dealers, who have been crying for it,
are gradually taking on some other lines.
We would like to see the "Everett" come back. The trade wants
it and the discriminating public wants it. There is only praise for
the owners of the ".Everett" because they refuse to produce inferior
instruments bearing the distinguished name. But it would seem to
be better business to part with the basic elements of the artistic piano,
and let some other industry perpetuate it, than to deny it to the trade
altogether and suffer the monetary loss also. The passing of the
"Everett" was one of the tragedies of the trade during the year just
closed.
PRICES AND PROFITS
The real values of the past year, so far as concerns the piano
business, are not locked up in the office safes. No doubt, there are
both manufacturers and merchants who have made some money dur-
ing the past twelve months. But the proportion of profits as com-
pared with some other years is not great. And the real values will be
found in the year's experiences, the readjustments and the more inti-
mate knowledge of our own customers, that have been forced upon
us by the exigencies of unusual times.
And there is one large-sized misunderstanding which has been
entertained by not a few active men in the trade, and also by people
outside the trade. It pertains to the proportionate size of the profits
to that of the prices. It is common to hear retail piano men talking
about the terrible increase in wholesale factory prices. They feel that,
because of the abnormal demand for pianos, the manufacturers may
be asking more than they are justified by conditions to ask. But
dealers of that kind have little understanding of what the manufac-
turers know too well. They do not realize that it is common for the
manufacturers to add but a twenty per cent increase because of some
piano part that costs them an added forty or fifty per cent above the
earlier price. There can be no profit in that, and the manufacturer
oftener sacrifices his profit than augments it, when his wholesale
figures show a moderate jump.
As a matter of fact, while last year brought great activity to the
piano industry, it was not a great year in its reward to the manufac-
turers. On the contrary, at the time when a turn in the tide seemed
to be promised, other obstacles than that of added cost of supplies
confronted the manufacturers. Railroad transportation was uncer-
tain; basic materials were hard to get; essential supplies were scarce.
And then came the strike which, especially in New York, put a check
upon operations. Where, then, was the profit to the piano industry?
Nor was last year a great one for the retailers. Orders were
plentiful; in some places the stores were depleted of stock. Prices
were advanced to meet the necessary increase asked by the manufac-
turers. But, even if the selling prices were advanced sufficiently to
cover the added cost to the merchant, there were other conditions to
overthrow progress and upset the profits. For what is the gain in
easy sales and good prices, if the pianos can not be had with which
to meet the demand? Presto has been appealed to scores of times£
by mail and by dealers in person, for help in finding pianos ready for
delivery. In most cases the prices cut no figure. The dealers were
ready to pay almost any price, if only the pianos could be secured. So
where was the great profit in last year's unusual demand and fair
prices?
It is a matter of this year whether last year shall have been a
bad one for the piano trade, or a very good one. If the war that
doesn't exist can be ended, industrial and commercial life may return
to its normal condition. If the workers return to reason and the riot
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