September, 1931
PRESTO-TIMES
ISSUED THE
FIFTEENTH IN EACH
MONTH
FRANK D. ABBOTT
PRESTO PUBLISHING CO.
Publishers
417 So. Dearborn St.
Chicago, I1L
The American Music Trade Journal
Editor
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Entered as second-class matter Jan. 29, 1896, at the than strictly news interest.
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CHICAGO, SEPTEMBER, 1931
The daily papers and some other public prints must
have their fun and a good deal of their satisfaction is
at the expense of music and musical instruments.
For instance, the Fort Worth, Texas, Telegram in
making notice of the new combined bagpipe and
saxophone production says that it is hoped that the
disarmament conference takes notice and leaves us
plenty of axes.
It is well to bear in mind that it takes more than
an axe to completely destroy.
* * * *
Under the terms of the recent merger agreement
of the Columbia Graphophone Co., Ltd., and the
Gramophone Co., Ltd., of Great Britain, holders of
stock in these companies will receive shares equal to
their holdings in the new company and a cash divi-
dend of 56 cents.
* * * *
If, as has been stated, the old-fashioned, so-called
"barrel organ" was popular in homes, then the pres-
ent automatic instruments such as the Capehart
and the Aeolian radio-phonographs with automatic
changing devices, ought to be especial favorites in
homes. It is said that as far back as the time oi
Napoleon III and the Empress Eugenie that barrel
organ parties were given in their honor at the Tuile-
ries in Paris when, as the story goes, one of the
guests remarked that "the worst of the many bad
organ-grinders was the emperor himself."
* * * *
In marked copies of daily papers sent to Presto-
Times we notice second-hand pianos marked as low
as ten and fifteen dollars and many as low as twenty-
five dollars; many of the instruments from factories
that do not now exist and names long ago discarded.
Is it not more profitable to give away, throw away,
or "drown" instruments that have gotten so far down
the scale of value as these figures indicate. Oblit-
erate them.
* * * *
A prominent piano manufacturer on being offered
a consignment account from an erstwhile active piano
house, turning the account down, remarked that he
wished he might be able to increase this line of his
business, but that at the present time "instead of
looking for more consignment dealers, we are look-
ing for ways to close up many of those that we have
had."
* * * *
Uruguay has added radios and other musical in-
struments to its list of barred luxuries in helping
to relieve an economic and financial crisis, but,
strange to say, pianos are not barred or considered
luxuries by the Uruguay Chamber of Deputies.
* * * *
The band concerts given in Grant Park, Chicago,
which were inaugurated two weeks ago, are doing
very much for the cause of music generally, as well
as well as military and band music in particular.
Events of this kind are stimulating effects which
the music trades and industries profit by, as is evi-
denced in the increased trade which has come to
music houses handling brass band and orchestral
instruments. This line of the music industries seems
to be thriving; sure it is that it does not feel the
depression as some other divisions of musical in-
strument manufacturing are experiencing.
FINAL MEETING SCHAFF STRING CO.
The creditors of the Schaff Piano String Co.,
bankrupt, have received notice of a final meeting of
the creditors, to be held September 18, before Harry
A. Parkin, referee in bankruptcy, at 137 South La
Salle street, Room 620. The meeting is called for
11 o'clock to pass upon the receivers' final report.
At this time uncollected accounts receivable and
shares of stock will be offered for sale to the highest
bidder.
The piano, as an article to be merchandised, has also its disadvantages as compared with
many other lines of manufactured articles, for every few years people are not forced to buy
a new piano in order to keep up with current styles. The evolution from pianoforte to the
modern concert grand has been slow, for it is not easy to make changes in piano modes
and styles and essential construction. Annual novelties and inventions have been found to
be a deterrent rather than a boon to sales. New models cannot be introduced each year to
antiquate last year's piano, for while people are not reluctant to replace their furniture, their
radios, their clothing, and even their automobiles, to be in harmony with the existing mode,
the piano is not so fortunately favored.
* * * *
The durability of the piano, its permanency, may also be considered unfortunate from the
manufacturers' point of view. It is deleterious to the future sale of pianos that they are so
well made. Like a good watch, a fine piano usually lasts many years, and like any other
highly prized possession, the piano grows dearer to the heart of the owner as the years move
on and many years after its companion pieces of furniture have been replaced, the same piano
remains.
* * * *
The big slump which came in the manufacture and demand for player pianos, beginning
four years ago. was precipitous. Unprecedented as it was in the music industry, it came so
suddenly that numerous piano factories were caught with surpluses of scores, hundreds and
thousands of instruments which have had to be disposed of during these three or four years
as best they could. A manufacturer's surplus always has detrimental effects on the market
conditions of that commodity. Manufacturers want to deplete existing stocks before resum-
ing production and introducing new models, and the fact that many of these old player pianos
are still left is retarding the piano industry even today, has had a very great bearing on the
piano manufacturing business during these recent years.
* * * *
While the Music Festival which was held Saturday, August 22nd. at Chicago's Soldiers'
Field will serve as an impetus to the music trades and industries in general, it will more
particularly serve as a boon for dealers in brass and orchestral instruments, and publications.
Several festivals and musical gatherings such as the Music Teachers' Convention, and the Con-
vention of Music Supervisors in Public Schools which have been held in Chicago, have been
more closely identified with the piano and auxiliary interests, but this last festival attracted
more attention to band and orchestral than it did to any other instruments or group of instru-
ments.
*
•
*
*
But what to do with the trade-ins and the take-backs looms on the horizon of the dealer.
What should be done and what can be done with the players and repossessions that are so old
and dilapidated that they are practically useless? These instruments are detrimental to the
player as well as the student in addition to being eyesores to the rest of the family.
Many concerns solve this problem by destroying and throwing away many of their old
instruments. When the head of a great Chicago house was asked concerning his solution for
this problem he replied, "When any good critic condemns an instrument in our warerooms as
useless, we have it loaded on a truck, or rather we give it to any man who is willing to haul
it away. Sometimes we must even pay a dollar apiece to have the pianos taken away, although
most truckers are willing to take them for what they are able to salvage from the cases,
keys, etc."
* * * +
When a manufacturer of musical instruments makes up an order of merchandise, he can
be reasonably assured that the market for his article will not change so suddenly that he will
find the demand for his wares fast disappearing.
Manufacturers in other industries frequently find that either a fickle public has discarded
or a later invention has replaced their product, sometimes before they have even had an op-
portunity to place it on the market. This situation is most frequently found among manufac-
turers of machinery, farm implements, automobile accessories, etc., Avhere new improvements
are constantly being brought forth, and among manufacturers of such commodities as cloth-
ing and amusements, where the taste of the public is ever changing. Fortunately the music
business has been relatively free from the enormous losses suffered by manufacturers of dis-
carded articles.
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