ASTOR, LtN^X AND
H
Presto Buyers' Guide
Analyzes and Classifies
All American P i a n o s
and in Detail Tells of
Fheir Makers.
PRESTO
E.tabiiMhed 1884. THE AMERICAN MUSIC TRADE WEEKLY
FOUNDATIONS
1O26
L
Presto Year Book
The Only Complete
Annual Review of the
American Music In-
dustries and Trades.
to c.nt, ; n.oo a r«*r
CHICAGO, SATURDAY, JULY 4, 1925
unique facts and suggestive data. He covers his life
experience from the days when Chicago was com-
paratively young, and describes, as it has seldom
been described, the tragedy of the great fire which
destroyed the mid-west metropolis in 1871.
That event in the nation's upheavals took place
when the author was a very young man, but he had
William Tonk, Prominent in American Music his share of it, and in the conflict which preceded the Overproduction and Abnormal Growth Causes
tire. The disaster of 1871 followed the close of the
Industry, and Founder of the New York
Several Companies to Strengthen Connec-
Civil War but six years and, touching upon the Rebel-
Piano That Bears His Name, Adds
tions, While Many Mushroom Con-
lion Mr. Tonk gives a view of one of the most vivid
to Literature of Progress.
characters in the bitter days of the conflict. For Mr.
cerns Give Up the Struggle.
Tonk was a member of the Ellsworth Zouaves of
deathless fame.
Career in the Trade.
To members of the music trade, the author's start
Narrative of the Business and Private Life of One with Julius Bauer, in Chicago, w T ill prove fascinating. Sales Go from $2,000,000 in 1920 to $300,000,000 in
Who Has Devoted Himself to Music's
His later career covers a large part of the develop-
1924—2,500,000 Sets Used in
ment of the piano business, as well as the small in-
Practical Development.
Country.
Another member of the American piano industry, strument trade in which he was engaged before
It is probable that no other interference with the
and one whose experience has qualified him for a establishing the present piano industry of William sale of pianos has been so obvious as that of radio.
lasting place in the world of music, has put his Tonk & Bro. in New York.
Piano dealers almost everywhere have been dis-
There is, too, a section of Mr. Tonk's book which turbed by it, and the question of whether to add radio
memoirs into permanent form and will soon put forth
a hook of unusual interest. William Tonk, head of may be said to form an encyclopedia of business or- to the store departments has troubled hundreds of
the New York industry which bears his name, has ganization and ethical procedure. For the author has active piano houses. Therefore, there are few sub-
had a varied and progressive career, and his new book been associated with the piano manufacturers' organ- jects more important to the piano trade at this time
izations, and it has fallen to him to formulate rules than the trend and probable future of radio.
promises to meet with widespread favor.
and to postulate regulations of procedure, as well as
In the New York Times of this week Tuesday an
other directions for the New York, or national, asso-
ciations. The extracts from his writings in that con- article appeared in which the piano dealers may find
nection must be of value as models, or as sugges- their answer. It is filled with significance to both
tions, for years to come because they often set forth the piano and radio industries. Consequently the
the aims and purposes of trade organizations and pre- article is reproduced here in full.
sent concise rules of practice, as the result of
Weeding out Process.
research and observation.
Like
all
new
industries,
the radio business is pass-
A very fascinating chapter of the book treats of
through the first stages of the "weeding out," the
stock values of the Mid-Western and Western radio ing
happening with an industry whose growth is
companies. Overproduction, followed by more cau- usual
for
the
time being abnormal owing to the enthusiastic
tious buying on the part of the public, is said to have public reception
of its products. About twenty-five
astonished many promoters of new companies, and companies were horn in New York in the last twelve
caused widely advertised sales of receiving sets at months, while the "radio fever" was at its height,
prices sometimes at half or less of the price prevail- but whether they and others formed previously will
ing a few months ago.
all survive a year hence is said to appear from recent
There is a disposition in the trade at present to get indications as improbable.
sold out before the dull summer period arrives. It
Wall Street a few months ago was witnessing a
is estimated that 750,000 to 1.000,000 sets have been
offered at greatly reduced prices in what is referred radio stock a day, and with each new stock offered to
to as the New York and New Jersey districts alone. the public there was reared a new company engaged
Of these, it is said that 500,000 or more have been in the manufacture and sale of receiving sets. It is
said now that the public, being equally receptive re-
bought by the public at the cut sale prices.
garding radio company stocks, probably got more
The so-called "weeding out" is becoming more than they wanted.
manifest as the public's demand for receiving sets
In the West Also.
slackens. At the same time some companies, whose
merchandise has established them on a relatively per-
What has been true of the Eastern companies in
manent basis, are said to be coming through in good this connection has also been true of the companies
shape. Some promoters are being eliminated alto- established in Western territory. In New York the
gether, with the "mushroom" companies they have public is reported to have absorbed approximately
been sponsoring. Other companies are undergoing 5,000,000 new shares of radio stock offered in the last
reorganization with a view to stabilizing their sales year, and present quotations show a loss from the
and business and retaining their places in the in- original prices of close to $100,000,000. A more or
dustry.
less similar situation is said to have characterized the
Enormous Growth.
radio receiving sets in use in the United States,
WILLIAM TONK.
On January 1, 1920, it was estimated that there against 12,000,000 automobiles and 9,000,000 phono-
Mr. Tonk is still as active as ever in the industry, were only 5,000 receiving sets in the United States, graphs. These figures undoubtedly, it is said, offer
and he has had a practical part in many of the plans these largely in the hands of experts, and sales an- an excellent idea of what possibilities there are for
up to that time of receiving sets and parts did the extension of the radio in the country. Price cuts,
for trade betterment and commercial advancement nually
not exceed $2,000,000 a year In 1921 sales showed an with unfounded rumors in regard to new invention
within his special lines of observation. He has de- increase of 150 per cent. In 1922 the public enthu- possibilities, have had something to do with restrict-
voted considerable time to the preparation of his siasm began to assume large proportions and sales ing sales so far this year, according to those in the
memoirs, and the book will prove a substantial con- were $60,000,000. Sales for 1923 totaled $120,000,000, industry. Beyond this, however, is a somewhat
tribution to the fast-multiplying record of men who and the total for 1924 was between $300,000,000 and natural disposition of the public to lose some of its
have accomplished things in the political, industrial $350,000,000. Estimates of sales for this year put the enthusiasm.
total at $450,000,000.
and social life of the nation.
Why Enthusiasm Wanes.
*«,
The end of last year found approximately 2,500,000
Good Literature.
It
was
pointed
out
that
the
field
of
greatest
poten-
foreign travel in which points of interest are touched
Fortunately, Mr. Tonk possesses the rare gift of
tiality for the industry may soon lie in the strictly
expression to a degree that has enabled him to turn on in diary form, and thus shorn of the conventional intercommunicative phase of radio telegraphy. Mean-
descriptive matter which so often proves tedious, in while, the present halt in abnormal sales activities is
his recital of happenings, within and without the this day of comparatively easy access to foreign
ranks of his life work, into a series of vivid, interest- landmarks. In this it is certain that Mr. Tonk sets being utilized for consolidating the positions of the
ing chapters. And he includes in his life story a a new example, and a good one. For it affords the various manufacturing companies and stabilizing the
world of anecdote and historical data of the kind reader a quick tour of the old world and an up-to- trade, so that it will he ready when the busy season
opens in the fall.
that instructs as well as entertains.
date sight-seeing trip to places everyone wants to
One radio manufacturer recently remarked that if
As one who has had the privilege of reading por- know about.
companies owning patents wanted to enforce their
tions of the Mss. of the forthcoming book the writer
rights there would be thousands of infringement cases
Unconventional Travel Tales.
of this column has been made conscious of the scope
cluttering the courts throughout the world. The pat-
There is almost no technical piano matter in the ent matter constitutes another unsettling phase in the
of Mr. Tonk's book, and recognizes in it a fund of
information and reference to be found in no other book. Whatever may be said about pianos has no industry. It is believed, however, that the existing
existing published work. It is this feature of the flavor of commercialism, nor is there any dissertation litigation over patents will soon be settled and the
patents so allocated as to benefit the industry as a
work that will give it permanence, although, as is on case designs, tone quality or "how to take care of
customary, the anecdotal and reminiscent chapters the piano." It is, in short, a book in which a useful whole, although it has been suggested that many such
patents probably will run out or expire before they
will probably attract most readers and create more life is told, with some detail, and a great deal of
can be adjudicated.
general comment.
ground is gone over which must be of as much inter-
Despite its troubles, common to a new and lusty
Mr. Tonk begins with some very interesting re- est to people who have no concern in the piano busi-
searches of geneologic nature. He traces the family ness fur+Vg^than that they love music and know how industry with an unquestionably interesting future
ahead, there is declared to be abundant room for ex-
name far back and, in so doing has discovered some
(Continued on page 4)
pansion
in Museum
manufacturing
and sales activities.
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MANUFACTURER'S
PIANO MEMOIRS
TURN IN THE TIDE
OF RADIO TRADE
A VALUABLE BOOK
INDUSTRY'S RAPID GROWTH
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