September 4, 1920.
FINANCES OF
INTERNATIONAL CO.
F»R E
STO
AIDS ARTISTIC SHOW WINDOWS
Creditors Should Receive One Hundred Per
Cent in Settling of Affairs of Fall River
Manufacturers, Information Conveyed
at Creditors' Meeting.
At the meeting of the creditors of the International
Piano Mfg. Co., Fall River, Mass., held in the fac-
tory at Fall River, August 18, Julius Schneller was
elected chairman. About seventy creditors with
claims, aggregating $250,000 were represented. No
report was made by the receivers as practically
nothing had been done since the petition in bank-
ruptcy was filed.
Most of the creditors approved of the plan to take
the matter out of the jurisdiction of the bankrutcy
court and place it in the hands of a creditors' com-
mittee made up of business men who would act
without compensation until all the uncompleted
pianos could be completed and sold for cash. To
do this it was considered necessary to prove sol-
vency.
Receivers Willing
E. N. Kimball and Mr. Reed, who represented the
Exchange Trust Co., two receivers present, said they
were willing to resign. A committee of five was
then appointed to carry out the plans suggested
above. Before proceeding it was found that the res-
ignation of the third receiver, Mr. Martin, was neces-
sary. But Mr. Martin absolutely refused to resign.
Under the circumstances it was decided to press the
matter no further.
Mr. Kimball was anxious to resign from the re-
ceivership, so Julius Schneller, a member of Haas &
Son, was appointed in his place. He assumed du-
ties on August 20. He is now in active charge of
the Fall River factory.
From information conveyed to Presto, creditors
'should receive 100% in this proceeding.
The Assets.
The total assets of the International Piano Mfg.
Co., amount to $497,426.47 and include cash in hand,
cash in receiver's account, checks not deposited,
checks in bank and balance with Exchange Trust
Co., totaling $8,809.68 in current assets. Other items
in the assets are accounts receivable, trade accept-
ances, merchandise inventory (at cost), machinery
and equipment (appraised) and land and buildings.
The sum of the merchandise is $235,117.28, machin-
ery and equipment $35,824.94, and that of land and
buildings $200,000.
The Liabilities.
The total liabilities are given at $358,412.47. The
total of the preferred claims is $52,823.44, and that
of the total claims rank is $305,589.03.
The proprietorship is given as $139,014.47.
Notice to Creditors.
The following notice from the District Court of
the United States for the District of Massachusetts
has been sent to creditors of the International Piano
Mfg. Co.:
Notice is hereby given that on the 13th day of
August, A. D. 1920, the said International Piano
Manufacturing Company was duly adjudicated bank-
rupt; and that the first meeting of its creditors will
be held at the County Court House in Fall River in
said district, on the eighth day of September, A. D.
1920, at ten o'clock in the forenoon, at which time
the said creditors may attend, prove their claims,
appoint a trustee, examine the bankrupt, and transact
such other business as may properly come before
said meeting.
GEORGE W. STETSON,
Referee in Bankruptcy.
THE SUGGESTION SYSTEM
OF THE AUTOPIANO CO.
Scheme of New York Manufacturers Involves Active
Co-operation of Factory Employes.
The Autopiano Company, New York, has an active
suggestion system run under the direction of Edward
F. Vail, assistant to Superintendent Miller. This sys-
tem was originally adopted to offer the employees of
the Autopiano Company a medium whereby they
could present to a central office any suggestions or
ideas that would improve the quality of the Auto-
piano product or facilitate the method of manufac-
turing this instrument. A cash basis was arranged
whereby the employees of the Autopiano Company
were paid liberally to offer any ideas or suggestions
which the Suggestion Committee was able to adopt
satisfactorily.
The suggestion system used by this progressive
concern ought to be of vital interest to every piano
After months of studying and preparation, the Q
R S Music Company, Chicago, has brought out a
series of window displays specially designed to con-
nect the retail stores more closely with the great
Q R S National Advertising Campaign. The com-
pany wants every store to become a focal point
in its community for the full force of Q R S Na-
tional Advertising.
These displays are designed to accomplish two
things: build prestige for the store that displays
them, and make sales. They will do both. There
are six displays to the service, one of which will be
sent to the subscribing dealer on the first of each
month, beginning with September, 1920, and ending
February, 1921. The cut accompanying this story
gives some idea of the form one of the displays.
But the small black and white cut poorly conveys
the color attractiveness of the displays. The dis-
plays are lithographed in nine colors, and each is of
an entirely different design from the others, but all
carry out the artistic advertising of the Q R S Music
Company. The displays do not mention or feature
any distinct title. They can be used today and a
year from today.
The center-piece is approximately three feet wide
and five feet high. Along with the center-piece go
sveral side pieces; some months will have four, oth-
ers more. The number of side pieces being gov-
erned entirely by the center display.
The side
pieces bear many snappy phrases to convey to the
passer-by the many pleasures of the playerpiano.
This feature of the displays should be the means of
stimulating interest in the playerpiano, which, of
course, will mean player sales for the dealers. Also
the side pieces can be used separately after you are
through with the complete display.
A display like any one of this series produced
singly would cost a dealer from $35 to $50 each and
they would not have the same richness in color, or
harmony of detail. By contracting for an enormous
quantity of them The Q R S Music Company is able
to furnish them to their dealers at $18 for the entire
service (billed at the rate of $3 per month) for the
period of six months, approximately one-half of
what one display would cost the dealer if he were
to buy it individually.
dealer or manufacturer in the United States as it
establishes between the workman and the executives
not only a spirit of co-operation, but very often
brings out an idea which offers a successful improve-
ment in the factory.
Interest in the suggestion system is kept active in
the Autopiano factory by an occasional letter to the
employees which carries in it a series of strong
phrases especially designed to stimulate in the em-
ployees a desire to make a helpful suggestion. A re-
cent letter written and sent to the employees by the
chairman of the Suggestion Committee of the Auto-
piano Company used the phrase, "Are you a self-
starter or do you have to be cranked?" as an interest
creating caption. The balance of this letter carries
out the theme of the caption and is written in force-
ful style which is bound to awaken the imagination
of the employee and suggest to him that he submit
an idea that is in the back of his head, and which
may be of value to both himself and to his concern.
The letter offers to pay the employee liberally for
any ideas he may submit that can be used to ad-
vantage.
The suggestion system of the Autopiano Company
has been active for several years with excellent re-
sults and the high quality of the Autopiano product
is evidence of the close co-operation which is ob-
tained through the shop suggestion idea.
TWO HISTORIC IRISH
HOUSES AMALGAMATED
The Fred P. Watson Co., Mt. Vernon, 111., han-
dles the Gulbransen playerpiano, to which it alludes
as the "means to perfect music; easy to play, easy to
pay for. The least expense to maintain a, guarantee
by us backed by the factory for 10 years."
Piggott & Co., Established in 1823, Acquires Busi-
ness of Cramer, Wood & Co., Founded 1801.
Piggott & Co., Ltd., and Cramer, Wood & Co., the
two oldest and most extensive music houses in Dub-
lin, Ireland, have been amalgamated. Both houses
have interesting histories dating back over 100
years.
Cramer, Wood & Co., which has been bought by
Piggott & Co., Ltd., was established in 1801 by Marcus
Moses, and with the closing of the premises in West-
moreland street, Dublin, a well known landmark in
the musical and commercial life of the city will dis-
appear.
The house of Piggott & Co. has also a long and
unique history in the trade. Since its foundation, in
1823, by Samuel J. Piggott, the business has never
passed out of the ownership of the family. The
firm has branches both in Limerick and in Cork.
In Dublin, in 1913, the company purchased the busi-
ness of Messrs. Pohlmann.
It is the intention of Piggott & Co., Ltd., to trans-
fer the Cramer business to its premises, in Grafton
street, Dublin, and to Suffolk street. In acquiring
the different agencies held by Messrs. Cramer and
by the addition of the stock to its own, the amal-
gamated company will have the largest stocks and
musical resources in Ireland if not in the three king-
doms.
Enhanced content © 2008-2009 and presented by MBSI - The Musical Box Society International (www.mbsi.org) and the International Arcade Museum (www.arcade-museum.com).
All Rights Reserved. Digitized from the archives of the MBSI with support from NAMM - The International Music Products Association (www.namm.org).
Additional enhancement, optimization, and distribution by the International Arcade Museum. An extensive collection of Presto can be found online at http://www.arcade-museum.com/library/