Presto Buyers' Guide
Analyzes and Classifies
All American P i a n o s
and in Detail Tells of
Their Makers.
PRESTO
E.tabu.hed 1884. THE AMERICAN MUSIC TRADE WEEKLY
Presto Year Book
The Only Complete
Annual Review of the
American Music In-
dustries and Trades.
to cent. s 12.00 <. rear
CHICAGO, SATURDAY, NOVEMBER 15, 1924
TRADE NOTES FROM
THE NORTHWEST
What Some of the Live Ones Are P^ing to
Create Business in Some of the Im-
portant Points in That Part of the
Country.
ager of the piano department of the Lipman Wolfe
Department Store.
The vacancy left by Walter A. Erwin in leaving
the piano department of the- Lipman Wolfe Depart-
ment Store has been filled by Howard Lieb, who
was formerly with the San Francisco Division of the
Wiley B. Allen Co.
By leasing the adjoining store room, The H. L.
Marshall Music Store in Eugene, Ore., has enlarged
its store, which was proving much too small for
its present needs. This gives them ample space
to arrange artistic displays of the stock, and window
trims that will demand attention.
Recent visitors in Seattle were R. K. Maynard, of
the M. Schulz Co., Chicago, and Omer N. Kruschke,
who is Pacific Coast representative of the Rudolph
Wurlitzer Co. Both these gentlemen were busy
calling on the trade.
A new suburban general music store has recently
been opened in Tacoma, Wash. The store is owned
and operated by E. Talman, and is enjoying much
popularity thus far.
BALDWIN COMPANY WILL
CALL IN PREFERRED STOCK
Will Offer New Issue at Less Interest to Its
Shareholders in Lieu of Present
Holdings.
The promised greater prosperity in all lines of in-
dustry is causing some of the large concerns to re-
arrange their stock distributions. One of the strong-
est industrials is the Baldwin Company, of Cincinnati,
which stands solid as a rock among the piano con-
cerns in whose prosperity the p.ublic has been per-
mitted to share.
All Departments of the Music Trade Appear to Be
The Baldwin Company directors are, it is under-
Flourishing in the Open Land of Oppor-
stood,
contemplating calling all of the outstanding 7
tunity.
per cent and 8 per cent debenture preferred stocks,
which were issued during a period of high money
rates. The call price on these preferreds is 102J/2,
A $200,000 lease signed by Sherman, Clay & Co..
which was made a low one in order to make it pos-
for a twenty-year rental of the south half of the
sible for the company to refinance without too great
Vance Lumber Co.'s building in Seattle, Wash., was
cost.
a recent announcement by the firm. The removal of
the wholesale department to larger quarters was
A marked change in money rates has prompted the
made necessary by the installing of a complete radio
directors to take advantage of the callable privilege.
Fine Grands and Reproducing Pianos Favored in However, they contemplate giving the 7 per cent and
department recently. This property is on Terry
avenue North and Republican street.
8 per cent preferred stockholders the privilege of
Business of Poole Dealers.
converting their shares into a new 6 per cent pre-
The Vance Bldg. is a three-story and basement
The Poole Piano Co., Boston, report a busy condition ferred, par for par, the call premium of 2V 2 per cent
structure, now under construction, and will give am-
ple room for the carrying on of the wholesale busi- in every department in the factory and the numerous on the old preferreds to be paid in cash.
orders tell the plain story of the dealers' activity. Ac-
There are outstanding $560,000 of the 7 per cent
ness of this company in Seattle.
cording to Ava W. Poole, president of the company, preferred and $1,653,000 of the 8 per cent preferred.
Some Small Goods Notes.
the character of the orders is unusually cheering.
The contemplated 6 per cent preferred will be issued
'The Poole grands and reproducing pianos are par- to the amount of $2,000,000. There is in addition
Mrs. Nellie Williams, manager of Hopper-Kelly's
record department, reports that Seattle is demanding ticularly favored in dealers' orders and the fact is sig- $239,000 of an old 6 per cent preferred outstanding,
"Mandalay" and "What'll I Do" in big quantities. nificant of a very encouraging condition,' said Mr. which is unaffected by the present plans.
Poole last week. "In fact few better gauges to the
According to the company's 1923 figures, the com-
This is due to the featuring of them at the Orpheum
renewal of prosperity could be applied than the piano pany showed that it earned the $120,000 necessary
recently.
demands of the public. The choice of a fine grand or
The sheet music department of the McDougall- a reproducing piano suggests a feeling of security for to pay dividends on the new $2,000,000 6 per cent
Conn Co., Portland, Ore., has moved to its new the future in the customer. No more eloquent way of preferred more than eight times. And from its bal-
home in the Elks' building. The remainder of the voicing such a feeling can be used than choice of an ance sheet of December 31, 1923, it showed common
stock will be moved to the new quarters at the expensive instrument. It means an assurance of per- stock, surplus and reserve of more than $7,300,000
following its preferred stock, while its investments
expiration of the lease on January 1, 1925.
manence in the things that make for happiness in the in plants, machinery and equipment totalled less than
The newly appointed agents for the Weymann home."
$2,000,000. So that its new preferred shares will not
Banjo, Seiberling-Lucas Music Co., Portland, are
Dan E. Fabyan, the energetic Poole traveler, recently only be represented entirely by current assets, but
finding it a very valuable asset to their stocks. It is interrupted a trip through the middle west to return there is a margin of current assets, after deducting
proving very popular and trade is growing daily in to cast a vote for prosperity. He got home the day all debts and preferred shares of well over $4,000,000.
this number.
before election and started out again on the day fol-
The Baldwin Company will effect a large annual
lowing the important quadrennial event. The orders saving by reason of having the six per cent preferred
''When Shadows Fall," a Sherman-Clay number,
from Mr. Fabyan help considerably towards the busy issue outstanding instead of the higher rate pre-
is proving unusually popular in Seattle at this time.
condition in the factory.
It was recently featured at the Blue Mouse Theatre
ferreds. and it is understood that its figures for the
by Henri LeBel, organist, and is proving a real hit.
year 1924 will be practically the same as for its suc-
Another recent addition that is proving very popular
cessful year of 1923.
THIEF ENTERS MUSIC STORE.
with teachers is a book of original compositions by
It is said the callable and conversion date will be
Thieves entered the Murdock Music Store in Ironton,
A. F. Venino, on the musical faculty of the Univer- O., last week Tuesday night and secured $15 for their fixed for December 15.
sity of Washington. It is called "The Seven New
efforts, leaving untouched bills amounting to $200.
Piano Compositions."
Their motive or the cause seems mysterious as the
money lay in plain view and was as easily obtained as
Special Piano Activities.
the $15, and nothing was done to hurt the beautiful
The Montelius Music House recently offered a pianos.
thirty-day inducement with the sale of pianos. The
instrument, if not satisfactory for any reason, was
TEMPLIN BUYS STEWART BUSINESS. Interest in Latest Scientific Organization Seems to
returnable over a period of thirty days after purchase.
Interest Many Practical Piano Men.
The Wilbur Templin Music House, 420-422 South
The $10 payment would be returned freely and
gladly. Easy terms were also offered, and a large Main street, at Elkhart, Ind.. has bought the business
Widespread interest in the newly organized National
display ad in the Sunday papers ran this advertise- of the R. E. Stewart Music House of the same city. Technicians' Association is indicated by the prompt re-
The
latter
was
established
27
mouths
ago
by
Robert
E.
ment, and it produced results.
sponse to solicitations of membership which have been
The Baldwin Piano Co , Seattle, has agreed to help Stewart. Mr. Templin transferred the Stewart stock sent out by A. K. Gutsohn. president of the association.
the new High School at Lake Burien, Wash., in the to his store last week and Stewart will enter his suc- Thirty-seven applications for membership have already
been received and more are coming in every day.
purchase of a Style "K." This is the same piano cessor's employ as a salesman.
that was used by Zeloye when he played in concert,
The association, which was accepted as a division
IN GOOD LOCATION.
and fell so in love with it that he insisted on its being
member of the Music Industries Chamber of Commerce
The Pierce Music Co., which recently opened a store at the meeting of directors on October 31st, has for
shipped to Portland for his use. The Baldwin Piano
Co. are co-operating by giving a benefit concert and at 254 Worthington street, Springfield, Mass., was for- its object the promotion of technical, artistic and scien-
tunate in the choice of a central location in the best tific principles in designing and manufacturing pianos,
turning the proceeds over to the piano fund.
The Cable-Nelson Piano Co. has recently ap- business part of the city. It is opposite Stearns Square parts thereof and accessories.
pointed Sherman, Clay & Co. as its agents on the and a busy point at all times. The company is ably
Coast. This is a very popular piano in the North- featuring a line of pianos and talking machines as well
ACTIVE PENNSYLVANIA FIRM.
as rolls and records.
west and should prove a big asset.
The
new music store of Rupert & Tewart, in the
• Changes and Personals.
GET MASON & HAMLIN LINE.
George A. Woods block, New Bethlehem, Pa., was
Walter A. Erwitif-has recently been made manager
The agency for the Mason & Hamlin line, including opened recently, and a continuous musical- program
[ the J. J. Coifing - 7 Piano Co., Portland, and also the Mason & Hamlin with the Ampico, had been
firm carries a full line of pianos and phonographs,
taken into partnership. The name has been changed placed with the A. B. Clinton Co. in, New Haven
which are being vigorously brought to the attention
\o Collins & Erwin Upstairs Piano Co. They out- Conn. The Clinton Co. is an old-established and of the public. The firm has formulated a plan for a
>rew their former miarters, so have recently moved prominent music house and a most fitting representa-
personal canvass of a well chosen list of prospective
to the Ungar Bldg. Mr. Erwin was formerly man- tive for the Mason & Hamlin product.
piano and playerpiano buyers.
SEATTLE TRADE GOOD
SEASONABLE ORDERS KEEP
POOLE PIANO COMPANY BUSY
NATIONAL TECHNICIANS'
ASSOCIATION IS GROWING
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