PRESTO
March 24, 1923
REPRODUCING PIANOS
CASH YOUR PAPER SAYS
RELIABLE PIANO INDUSTRY
The Baldwin Piano Co. Issues Circular of
Suggestion to the Financiers of the Retail
Musical Instrument Business.
Remarkable in their distinctive
qualities of master interpreta-
tion, case designs and exclu-
sive features. Made in both
Grands and Uprights.
CHRISTMAN
STUDIO GRAND
Wonderful Little Piano but 5
feet long but as powerful as a
Parlor Grand. Your trade will
be delighted with it.
Enhance Your Future Prosper-
ity By Investigating the
Irresistible Appeal of
CHRISTMAN
GRANDS, UPRIGHTS
PLAYERS
and
REPRODUCING PIANOS
"The First Touch Tells"
Reg. U. S. Pat. Off.
Christman Piano Co.
597 East 137th St.
New York
There is nothing of more interest to the average
piano dealer who does business than the question of
money supply. The piano man who has reliable
sources of cash supply is equipped, and never finds
himself embarrassed or in need of ample stock.
The Baldwin Piano Co., one of the strongest of
piano industries, has issued a circular of advice to
the trade, in which there are some very useful sugges-
tions. "Your banker, like all other business men,
welcomes a customer," the advise begins. "Go to him
today. He is looking for profitable business—in his
case profitable investments and will be glad to see
you."
That is advice the average piano dealer has needed
for a long time. Piano dealers are not always appre-
ciative of the opportunities they present to the local
bankers. The Baldwin circular is sound and it fur-
ther reads as follows:
There is no better investment than piano paper
signed by responsible citizens. It bears triple se-
curity—the instrument itself, the customer and the
dealer. It is a quality product.
Sell it to your banker. His business is buying good
paper. When he buys it he earns a profit as you do
when you sell a piano. When he turns it down he
turns down a customer.
You do not refuse to sell a piano to a responsible
customer. Is it therefore likely that the banker will
refuse to buy good paper that will earn a safe profit.
He has the cash—now!
There has been a tremendous increase in bank de-
posits during the past year. Time deposits show an
increase of $750,000,000; demand deposits an increase
of $1,250,000,000; a total of over $2,000,000,000 in-
creased deposits in the banks reporting to the Federal
Reserve System alone. Why?
One of the most important causes of this increase
in deposits is the greatly increased value of crops
produced in 1922. Official reports show the 1922
crops are worth $1,842,978,000 more than the crops
in 1921. Therefore banks are now in an exceptionally
strong position. Bankers are again seeking safe in-
vestments that will earn interest.
Piano paper is safe, sound and profitable, hence
it is just what the banker wants.
The benefit to you: Cash will enable you to take
cash discounts; cash will enable you to develop and
expand; cash will increase your profits.
Your banker is in a receptive mood today. He has
CASH and is looking for good local investments—
Go to him—See him—Establish friendly relations.
That statement of facts is clear and the logic is
unmistakable. There are hundreds of retail piano
dealers who will profit by giving heed to the Baldwin
advice, and Presto is glad of the opportunity to re-
produce it.
port on election day, he could consider himself the
winner.
Harry Newman Tolles, president of the Sheldon
school, gave an inspirational talk, and all he said was
brought right down to earth and hooked up to prac-
tical business fundamentals.
In his wonderfully
pleasing way he gave to members the fresh viewpoint
of an outsider on matters concerning the industry
and the coming music trade convention.
Laurel Nemeth and Bertram Peacock, of the com-
pany playing "Blossom Time" at the Apollo Theatre,
sang two of the big hits of the show, "Tell Me Daisy"
and "Song of Love."
EXPERIENCE IS SHOWN IN
NEWMAN BROS. PRODUCT
Lessons Learned During Fifty Years of Business
Makes Newman Bros.' Plant Efficient.
The 1 experience of the Newman Bros. Co., Chicago,
in making pianos during the fifty years of the history
of the company, reflects in the Newman Bros. Co.
piano, as the product of this corporation is called.
The Newman Bros. Co. was first organized in 1870,
making a total of more than fifty-two years that
the plant has been in operation. In 1892 the brothers
formed a corporation under the name by which it is
still known.
The factory at the corner of Dix street and Chicago
avenue was greatly improved a few months ago by
the addition of new machinery, the installation of
which made possible the larger number of pianos
which are now being produced. Under the capable
management, of L. M. Newman, president, the fac-
tory is being held up to the production necessitated
by an increasing activity of ordering.
CHICAGO PIANO CLUB
ACCEPTS RESPONSIBILITY
Efforts of Organization and Individual Mem-
bers Pledged to Making Conventions of
1923 the "Greatest Ever."
The Piano Club of Chicago is expected to play a
big part in the forthcoming conventions of the vari-
ous music trade associations to be held from June 4
to 7 at the Drake Hotel and the club has accepted the
responsibility. From now on the efforts of individual
members and of the membership as a whole will be
devoted to making the conventions of 1923 even more
successful than the record-breaking event of 1921.
''The thing that put over the 1921 convention was
enthusiasm. We had it in big gobs, every one of
us. We still have it. But it needs a little stirring up
to get it working right. And we've got the right
man to do the stirring. He has done it before fo.r
us," said the letter of Secretary R. E. Davis announc-
ing events at the club luncheon this week.
A big event of the convention this year will be the
band contest in the plaza opposite the Drake Hotel,
and Patrick Henry told members at the luncheon on
Monday that great public interest in the proceedings
is assured. Letters of acceptance of the invitation to
compete are already flowing in to the promoters
of this unique event. Mr. Henry considers that as
many as 2,000 pieces are now assured of participa-
tion, and the real hard work of organizing the con-
vention events has hardly been begun.
Judge William E. Dever, Democratic candidate for
mayor, was a guest at the club luncheon this week
and told in his pleasant way why all piano men
should vote for him. Judge Dever said that if
friendly, pleasant looks were any assurances of sup-
JUNE CONVENTION WILL BE
ENLIVENED BY BAND CONTEST
High School and Military Schools Will Enter the
Lists for Large Prizes.
The winds of Lake Michigan will not do all the
blowing about the Drake Hotel, Chicago, during the
approaching music trades convention. Nor will the
piano maker and dealers do it all, either. For one
of the many big features of the convention will be
the brass band contest for high school, grammar
school and military school entries.
Already eighteen bands have announced that they
will enter the contest. The Niles High School Band,
of Niles, Mich., with 97 pieces is one entry. The di-
rector of this band is W. E. Matthews. The Fond
du Lac High School is entering three bands, two
juniors and one senior, with a total of 85 pieces in the
three. Six thousand dollars in cash prizes will be pre-
sented to the winning bands. These will be divided
between the schools and grades in sums ranging from
$200 to $1,000 per prize.
MAKING "COLUMBIA" GRANDS.
A comparatively new piano industry is being estab-
lished by the Columbia Cabinet Co., of Chicago. The
industry is controlled by A. Nordlund, president and
R. W. Nordlund, vice-president. The factory capac-
ity of Grand pianos is large and the product has been
commended by piano men who know. The demand
for small grand pianos has encouraged the Messrs.
Nordlund to go into the business seriously. H. P .
Nelson, who was with the industry for some time, is
no longer associated with the Columbia Cabinet Com-
pany.
AN UNUSUAL STEGER PAGE,
No reader of this week's Presto can overlook the
attractive Steger page—the latest setting forth of the
advantages of "the most valuable piano in the world."
In the words of the Steger & Sons Piano Mfg. Co.,
"that descriptive slogan tells concisely the story of a
glorious ideal realized." Dealers who represent the
Steger are prosperous. The wide-awake policies of
the great Chicago industry, backed by the quality of
instruments which come from Steger, 111., insures
that. Read page 2 carefully.
GIMBEL BROS. EARNINGS.
In its first published reports of earnings during the
eighty years of existence, Gimbel Brothers, Inc.,
New York, Philadelphia and Milwaukee, with a mu-
sic department in each division shows for the year
ended January 31 last total sales of $72,664,768, an
increase of $5,981,203 over the previous year, and net
profits after provision for federal income tax amount-
ing to $5,043,605, an increase of $1,532,306. After al-
lowing for preferred dividends the balance available
for the common stock was equivalent to $7.99 a
share.
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