Presto

Issue: 1925 2031

PRESTO
June 27, 1925.
W. F. FREDERICK'S
VISION REALIZED
Marvelous Achievements of Founder of Far-
Spreading Piano Business Crowned by Re-
cent Formation of the Frederick In-
vestment Company of Pittsburgh.
RESULTS OF FORTY YEARS
The Accomplishing of Great Piano Business Suc-
cesses from Humble Beginning Makes Romantic
Life Story.
The fascinating story of W. F. Frederick, founder
of the W. F. Frederick Piano Co, Pittsburgh, and
the chain of music houses bearing his name is one of
remarkable achievement in the business and commer-
cial life of America. It tells of his rise from the
smallest beginnings—from the early days when he
occasionally sold a reed organ and later when he
sold pianos on commission—to his present position
as the head of one of the great musical instrument
selling organizations of the world and perhaps, the
largest buyer of pianos in America.
The story telling how Mr. Frederick started this
business and brought it to its present proportions,
together with much other interesting matter, is con-
W. F. FREDERICK.
tained in a little brochure recently sent out by a
Pittsburgh publishing house under the title, "A Great
Vision Realized," and from which we clip as follows:
The Vision.
One late summer afternoon in the year 1880 a
bright, sturdy lad of twenty years or there-
abouts could be seen seated in an old-fashioned
spring-wagon drawn by a single horse, slowly climb-
ing one of the long ascents of the Old National Pike
as it gracefully wound its way through the beautiful
ranges of the Blue Ridge Mountains of Somerset
county in Western Pennsylvania. Finally the wagon
reached the top of the ridge and stopped while the
lad got out to let his horse rest before beginning the
descent into the peaceful, fruitful valley on the other
side of the range where was located his simple moun-
tain home. The lad stood there with bared head
gazing thoughtfully and almost reverently upon the
matchless beauty of the scene before him. Like
the waves of the ocean, ridge after ridge covered
with waving forests of green touched to gold by the
setting sun, stretched away into the hazy distance.
The inspiration of the scene was not lost upon the
lad. He had lived in the mountains all his life—he
loved them with all his heart, and, no one but himself
knew of the visions that came to him with the in-
spiration of these noble creations of God's handiwork.
The lad was not only a lover of nature, but he was
also an ardent worshipper of Nature's greatest
medium of expression—Music. He had spent the
year previous at a famous old Academy of Music
located over in the valley lying at the foot of the
western slope of his beloved mountains and he had
returned home to earn enough money by teaching
the rudiments of music to the mountain folk to take
him back to school the following year.
Saved Slowly.
His earnings from this source, however, accumu-
lated slowly and it seemed he would never earn
enough to take him back to school again, when the
thought occurred to him that he might increase his
earnings by selling a few parlor organs to his moun-
tain friends. Acting upon this idea he had succeeded
in securing some organs from a Pittsburgh music
house to sell on a commission.
Upon this particular afternoon he had just sold and
delivered an organ and was returning tired but happy.
As he stood upon the mountain ridge gazing into the
western sun, a great vision seemed to open up before
his eyes. He saw before him the great valleys
stretching out to the West far beyond the mountain
ranges. He saw the rich farms; the glowing coke
ovens; the flaming, roaring furnaces; the rivers
ladened with barges of coal and iron; he heard the
whistle of the locomotives as they carried their pre-
cious burdens to the distant markets; he heard the
clang of the street cars; he pictured the cities teem-
ing with their thousands of busy people; and, then,
as the vision grew, he suddenly saw himself among
all this beehive of industry—a dominating figure
amidst all this activity. A great musician, you say?
No! He saw himself a great captain of industry—
a great music merchant.
The vision slowly faded away, and as the sun sank
peacefully behind the western hills, the lad climbed
into his wagon again and started homeward, but in
his eyes was the light of a determined purpose, the
dawn of a great aspiration, and henceforth every
ounce of effort and energy of which he was capable
was to be devoted to the realization of his great
vision.
After Forty Years.
More than forty years have passed since William
Franklin Frederick stood that day upon the mountain
top and dreamed his vision, and he has lived to see
its fulfillment far beyond his greatest and fondest
anticipations. We will not dwell on the long days
and weeks and months and years of patient toil and
planning as, step by step, he laid the foundation, and
built the towering superstructure of his present great
business. There were times when the lowering
clouds were black and threatening; times when his
heart was wrung with the anguish of despair; but
still he went onward, driven by his own indomitable
will and courage—a truly great leader among men,
carrying always in his heart the vision of his boy-
hood days.
Today the "House of Frederick" is one of the most
notable successes in the entire music industry. Ju
respect to its plan of organization, its financial
strength, its personnel, its policies, its lines of mer-
chandise, the territory covered and the volume of
business transacted, it takes its place among Amer-
ica's model business institutions. In the last twenty
years the total volume of business transacted by
the Frederick industries was nearly thirty million
dollars.
A Great Home.
This big business is divided into two divisions—
the W. F. Frederick Piano Company with its head-
quarters at Pittsburgh and Union'town, Pa. (the
latter having been Mr. Frederick's home for the
past forty years), and the Davis, Burkham & Tyler
Company, with its headquarters at Wheeling, W. Va,
These two companies through a chain of seventeen
big, fully equipped music stores, located at Pitts-
burgh, McKecsport, Greensburg, Butler, Uniontown,
Connellsville and Braddock, Pa.; Cumberland and
South Cumberland, Md.; Graf ton, Morgantown,
Clarksburg and Wheeling, W. Va., Youngstown,
Cambridge, Steubenville and East Liverpool, Ohio,
together with one hundred or more sub-agencies,
serve a population of many millions of people, and
cover like a perfect network Central and Western
Pennsylvania, Eastern Ohio, Northern and Central
West Virginia and Western Maryland. The name
"Fredericks, the House of Service" has become a
household slogan throughout this vast area of terri-
tory in all things musical. With consummate skill
and unerring judgment, coupled with a reputation for
sterling honesty and dependability, Mr. Frederick has
constructed this great business monument to his
name.
Latest Development.
Some time ago Mr. Frederick conceived the idea
of merging his already prosperous businesses under
a holding or controlling company. Thereupon the
Frederick Investment Company was organized, and
in 1917 incorporated.
The Frederick Investment Company with head-
quarters in Pittsburgh, Pa., has an authorized capital
stock of two million five hundred thousand dollars
owning and controlling completely the capital stocks
of the two subsidiary companies, each of which, how-
ever, operates separately under its own management
and board of directors, subject only to the policies
and general direction of the holding company.
This company is the crowning achievement of Mr.
Frederick's business career and is one of the strong-
est institutions financially in the entire music indus-
try.
VETERAN PIANO MAN
HONORED AT HOME
Tribute Paid by Middletown, N. Y., News-
paper to J. A. Bates, One of the Speakers
at Recent Convention.
One of the conspicuous figures at the recent trade
convention in Chicago was J. A. Bates, veteran piano
merchant and founder of the old Southern Music Co.
Mr. Bates was one of the speakers at the "Dinner
to the Aged," given by George P. Bent, and what
he said was reported in Presto of June 13.
During Convention week the Middletown, N. Y.,
Herald—one of Mr. Bates home papers—published
the following editorial which will be read with satis-
faction and approval by every piano man who knows
the veteran to whom the tribute is paid:
So Mr. J. A. Bates is to be honored! This is fit-
ting, very fitting indeed. Mr. Bates is one of our
leading merchants. A war veteran, a campaigner in
J. A. RATIOS.
that great struggle when the union was preserved,
he is likewise one of our leading citizens and quite
naturally beloved by all who have the pleasure of
his friendship.
It is fitting therefore, we say, that he should be
honored, and by all means by the members of that
craft to which he has been devoted for more than
sixty years of his long life—the music trades of
America.
Mr. Bates is one of the pioneers in this country in
that estimable crusade which was started many years
ago—and which has met with great success all will
agree—to "make America musical." The fact that
in his time he has sold more than 100,()()f) pianos in
one section of this great land alone—the south when
he was a member of a Savannah, Ga., music firm—
is ample evidence of the fact that he has accom-
plished not a little toward the united desire to bring
this about.
And now after sixty years he is still in the business
and still piling up records of sales. Enjoying such
good health there is no reason why he can't go on
piling up his splendid record for years to come.
Yes, it is fitting that this man should be hon-
ored by his own craftsmen. But, is it not pertinent
to ask, can any such group of men anywhere pay
tribute to a man with such a record, no matter how
glowing are the words spoken or how sumptuous
the repast laid in his honor? Is it not rather a fact
that in traveling some 1,500 miles to participate in
the silver jubilee of this organization of business men,
the organization is itself honored by his presence?
Mr. Bates would probably say no, but his legion of
friends hold otherwise.
AIR MAIL TO NEW YORK.
A new flying schedule thai will take Chicago's mail
at the end of the business day and put it in New
York the next morning in time for the earliest busi-
ness man will go into operation July 1. All business
men are expected to find the new opportunity for
rapid mail deliveries to New York and return of great
value. All classes of people will find it of great value
in emergency cases. The rate will be ten cents an
ounce or fraction thereof, and the schedule is as fol-
lows (daily except Saturday and Sunday): Leave
Chicago 8:30 p. m. Central Time; Cleveland 1:20
a. m. Eastern Time; arrive New York 6:00 a. m.
Eastern Time. Not only Chicago, but nearby cities;
in fact, the entire Mississippi Valley will benefit by
this night service.
SELLS STOCK AT AUCTION.
The Radio Sales Studio, Inc., Fourteenth street and
Park road, Washington, D. C, recently disposed of
its stock of talking machines and radio goods at auc-
tion. The company was one of the largest dealers in
the lines in the uptown section of the national capital
and carried Victor and Brunswick phonographs and
records and standard lines of radio.
BRANCH FOR USED PIANOS.
A new branch store has been opened by Kohler
& Chase, San Francisco, in a two-story building re-
cently purchased on O'Farrell street, adjoining the
Orpheum Theater. The two floors are given over to
the sale of used pianos and players and will be con-
tinued in .^uch use until the building is remodeled.
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/
10
June 27, 1925.
PRESTO
INFLUENCE OF
AUTOMATIC MUSIC
r Up-to-date Rolls Made for Electric Pianos
Help Towards More Sales of Instruments
by Dealers, Who in Turn Insist on
the Best Music.
PIANO OWNER'S VIEWS
These Are Expressed in Favor for All-Hit Reviews,
Most Effective in Getting Nickels
Into Slots.
The growth of the importance of the automatic
pianos and orchestrions has of course been accom-
panied by a corresponding increase in the call for the
rolls to suit the instruments. The regular issues of
up-to-date music by a number of houses equipped for
the making of the automatic music rolls, show a
steadiness in the demands for that class of music.
The marked variety of the numbers also shows a
wide range of taste in the owners of the electric
pianos and orchestrions.
The improved character of the automatic music
rolls produced today are in interesting contrast to
the crudity of the first productions. The first rolls
produced consisted of five selections of sixty-five and
forty-four notes and were made up into endless rolls
by splicing the ends together. It was before an in-
ventive genius of the roll making industry thought of
the rewind principle. But a comparison of the differ-
ence in the materials in the old and new rolls also
shows the evolution of the automatic roll.
First Users "Easy."
The earlier users of the automatic pianos were
easy to satisfy in the matter of musical selections.
The efforts of the roll manufacturers today to bring
the selections up-to-date as far as the songs and
popular music go and to provide tasteful people
among the listeners with music of the better types,
show the responsibility attaching to the position of
manager of a roll making department. Some of the
users want the latest and others want the best and
between the dealer insistent on good music to satisfy
the electric piano owners and the listeners with re-
cently educated tastes, the roll manufacturer is kept
on his toes, so to speak.
Teaching the Public.
The greater appreciation of good automatic music
began not so many years ago, but the ability of the
owners of pianos and the listeners to appraise the
selections has been marked within the short space.
The phonograph has been a great educational factor
and the spread of the motion picture shows likewise
has had a strong effect. People who had no musi-
cal instruments in their homes were enabled to hear
new music and old music at the shows, a fact of
great influence on sales of music making instru-
ments like the electric pianos. But the automatic
pianos themselves have been powerful in the encour-
agement of music.
Responsibility of Roll Man.
The fact is that the automatic roll man must now
keep abreast of the times and be able to hand over
to his customers the latest in the popular music. It
is something the automatic piano owner demands.
His listeners will not respond with the nickels for
old stuff. They know what's what. They hear music
at the shows, from the dance orchestras and over the
radio, and the contents of the new music rolls pro-
vided by the roll manufacturer every month, and
sometimes oftener, must sound fresh.
Automatic pianos have improved public taste, but
the truth is that the older standard selections are far
from being the best sellers. The big winners are the
hit reviews, the latest and hottest, and the fact is
made clear in the issuance of several rolls of that
character by the roll manufacturers every month.
The manufacturers of the automatic pianos admit
that the review rolls have made the pianos more
popular than ever before. And there is something
else about them that pleases the owners. By com-
bining all the big musical hits on one roll the dealer
and manufacturer sell more rolls and the piano own-
ers take in more money.
FINANCING ONE OF THE
LARGEST MUSIC HOUSES
Plans of Lyon & Healy, by Which Gold Notes
Are Issued Fully Secured by Collateral
Paper and Other Assets.
The Lyon & Healy
Reproducing Piano
A moderate priced reproducing piano,
beautiful in design and rich in tone.
Write for our new explanatory Chart,
the most complete and simple treat-
ment of the reproducing action.
Wabash at Jackson - - - Chicago
tote
Builders or Incomparable
[[PIANOS, PLAYERSNREPRODUCING PIANOS
THE BALDWIN
CO-OPERATIVE
PLAN
will increase your sales and
solve your financing problems.
Write to the nearest office
for prices.
INCORPORATED
CINCINNATI
INDIANAPOLIS
LOUISVILLE
CHICAGO
ST. LOCIS
NEW YORK
DALLAS
VENVEB
SAN FRANCISCO
The recently announced plans for reorganizing the
financial departments of the old Chicago house of
Lyon & Healy, have caused general interest in the
trade. The standing of the house, and its extensive
reaches into the world of music, cause its every move
to be regarded with more than ordinary interest. In
the department of the Chicago Tribune known as
"The Investors' Guide," the following particulars
appeared one day last week:
Lyon & Healy has been successfully in business in
Chicago since 1864. It distributes at retail in the
Chicago district and at wholesale throughout the
country all classes of musical instruments and music
compositions. It has over 30,000 customers and is
said to operate the largest music store in the world.
Lyon & Healy, Inc., (the present name) is issuing
$2,200,000 of 6 per cent serial notes.
These notes are direct obligations of the company
and are secured by assignment to the trustee of
$2,200,000 customers' installment notes which are
issued against merchandise sold, or dealers' notes,
cash, United States government obligations, bankers'
acceptances, or a combination of these, totalling the
face value of the notes. This amount of collateral
must be maintained until $500,000 of the notes have
been retired, when it may be reduced by an amount
equal to the notes paid thereafter.
As of March 31, 1925, the balanced sheet, reflecting
this financing, showed current assets of $4,660,222,
against current liabilities of $713,445, leaving net
working capital of $3,946,777. Net earnings for the
last eight calendar years, after all charges but federal
income taxes, have averaged $701,499, or 5.3 times
the maximum annual interest charges of $132,000 on
these notes.
For 1924 such earnings were $168,912, the smallest
of any year of that period. This is at the rate of 1.27
times such interest charges. These notes are a suit-
able investment for a business man's spare funds.
CLOSING OUT MUSIC STOCK.
A special sale of the stock of Peter Bacigalupi, San
Francisco dealer, who died recently, is being held in
the store at 111 Golden Gate avenue. A son and
daughter of Mr. Bacigalupi have been conducting the
business since his death a few months ago, but have
decided to close out the stock.
W. F. Clark, of the Cleveland Wurlitzer branch,
and who has been with the company for a consider-
able time, is now on the outside selling organs,
instead of being on the floor as formerly.
WALTHAM PLAYER FROM
DRAKE EXHIBIT SHOWN
Marion, I1L, Firm of Music Dealers Exhibits Model
with Interesting Expression Devices.
Walter Heyde, of the firm of J. B. Heyde & Son
Music Co., Marion, 111., returned home last week
from the Chicago convention where he had enjoyed
the opportunities for comparison afforded by the ex-
hibits of musical instruments at the Drake hotel and
elsewhere. Mr. Heyde told a local newspaper that
music dealers from all sections of the country re-
ported business good in their lines and they are pre-
dicting constant improvement.
While in the exhibit at the Drake of the Waltham
Piano Co., Inc., Milwaukee, Mr. Heyde said he was
so impressed with a Waltham playerpiano that he
ordered it shipped to him at Marion. The instru-
ment has the special expression devices which dealers
find add to the salability of the instrument in many
places.
Thomas B. Foote of the Knight-Campbell Music
Co., Denver, Colo., was recently elected president of
the Denver Retail Credit Men's Association.
SPENCER
The Intrinsic Qualities of This
Piano Command Attention
A High Grade Instrument at a
Moderate Price
First Class Factory and Equipment
Ample Production and Service
SPENCER PIANO COMPANY, Inc.
FACTORY: Thirty-First S t and First Ave.
OFFICES: 338 East 31st Street, New York N. Y.
E. Leins Piano Co.
Makers of Pianos and
Player Pianos That Are
Established L e a d e r s ,
Correspondence from Reliable
Dealers Invited
Factory and Offices, 304 W. 42nd Si
NEW YORK
"Built on Family Pride"
Doll & Sons
Represent the Artistic
in Piano and Player Piano
Construction
JACOB DOLL & SONS
STODART
WELLSMORE
Jacob Doll & Sons, Inc.
Southern Boulevard, E. 138rd St.
E. 134th St. and Cypress Ave.
NEW YORK
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/

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