Octubor, 1931
PRESTO-TIMES
8
ISSUED THE
FIFTEENTH IN EACH
MONTH
F R A N K D. A B B O T T
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PRESTO PUBLISHING CO.
Publishers
417 So. Dearborn St.
Chicago, 111.
The American Music Trade Journal
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Editor
Telephones, Local and Long Distance, Harrison 0234.
Private Phones to all Departments. Cable Address (Com-
mercial Cable Co.'s Code), " P R E S T O , " Chicago.
Entered as second-class matter Jan. 29, 18S6, at the
Post Office, Chicago, 111., under Act of March 3, 1879.
Subscription, $1.25 a year; 6 months, 75 cents; foreign,
$3.00. Payable in advance. No extra charge in United
States possessions, Cuba and Mexico. Rates for adver-
tising on .application.
Items of news and other matter are solicited and if of
general interest to the music trade will be paid for at
space rates. Usually piano merchants or salesmen In the
smaller cities are the best occasional correspondents, and
their assistance is invited.
Payment is not accepted for matter printed in the edi-
torial or news columns of Presto-Times.
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tion will be charged if of commercial character or other
than strictly news interest.
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quested that their subjects and senders be carefully indi-
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tions should be in not later than 11 o'clock on that day.
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Address all communications for the editorial or business
departments to PRESTO PUBLISHING CO., 417 South
Dearborn Street. Chicago, III.
The last form of Presto-Times goes to press at 11 a. m
three days preceding publication day. Any news trans-
piring after that hour cannot be expected in the current
issue. Nothing received at the office that is not strictly
news of importance can have attention after 9 a. m. of
that date. If they concern the interests of manufactur-
ers or dealers such items will appear the issue following.
CHICAGO, ILL., OCTOBER, 1931
The Detroit office of the Cable Piano Co., the vice-
president and general manager of which is W. D.
Jenkins, has recently adopted this slogan: "Every
sale is a step to prosperity and each buyer a public
benefactor."
This is certainly well said and conveys a good
deal of meaning for certainly every piano sold repre-
sents much rand'craft and the labor of many per-
rons and every buyer of a piano becomes the source
of doing good to msnkind, and is, as Mr. Jenkins
says, "a public benefactor."
Mr. E. G. Clark of the Clark Orchestra Roll Co.,
De Kalb, 111., notes an unusual interest in player
pianos throughout the country. This he observes
through increased demand during the past two or
three months for player rolls. "Either manufacturers
have been putting on the market players which had
been stored away or else the instruments in the
homes have again come to l'fe rejuvenated, for we
have had an unusual number of orders for rolls and
inquiries about player rolls."
—M—*=»
"This is the first time I've ever been in heaven,"
exclaimed a sweet young thing as she observed the
dozen or so harps stored in the east corridor of the
NBC studios. Had this girl visited the harp depart-
ment of Lyon & Healy, however, she would have
seen a display cf the stringed triangles that far ex-
ceeded a dozen and nowhere surpassed in quality.
But in justice to all parties concerned, let us say that
some of the harps at the NBC studios were undoubt-
edly Lyon & Healy product.
THE PHONOGRAPH AND THE RECORD
While the sale of the regular family phonograph has slumped in the last few vears. as an
article of commerce, the phonograph record has more than held its own. Just as the phono-
graph was a great substituting medium for the "real thing" in music, so the phonograph
record has taken a prominent place in the modern broadcasting studio and been a God-send
in "filling in" when personal performance could not be had. When music or entertainment of
any kind cannot be brought forth in person, most broadcasting stations make use of reproduc-
ing records to give a quality of music that is acceptable.
It is true that many people decry the use of records in broadcasting on the grounds that
the use of so-called "canned music" denies employment to men and women and by substi-
tuting machines. The manufacture of phonograph records for broadcasting purposes has be-
come a very important industry, some of our musical instrument industries, such as the Starr
Piano Company, employing many persons in this department alone. The phonograph record
will not down; its usefulness not only as a "fill-in" but as a regular program as well, is fully
appreciated by broadcaster and public alike.
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The recent industrial coalition of France and Germany, and the work of the mixed com-
mission whose purpose is to join the economic activities of the two nations, is being watched
with extreme interest by the exporters of this country. France and Germany have been at
swords points for centuries, lighting each other for control of the foreign markets. While
Germany has exported more pianos and other musical instruments than all the other European
nations combined, France has increased her exports in this line in the last few years. Now.
it appears, this strife will be of a different nature for the trade alliance will be of mutual ad-
vantage and profit and these two nations will be in a position to dominate the export trade
of the world unless America can put into action some opposing condition.
The question before the manufacturers of this country is: how will this coalition affect
the trade of the United States? The manufacturers of this country, too, are ever trying to
enlarge the foreign market and will this new arrangement make it more difficult for them not
only to gain but to hold their own? The musicil instrument manufacturers of this country will
look forward with much interest to the results that this commission is able to produce.
* * * *
The report of the first annual meeting of the Amer-
ican Piano Corporation speaks well for its manage-
ment, as well as for the piano trade as an industry.
From June 6, 1930, to June 30, 1930, inclusive, a
period of 24 days, the company sustained an operat-
ing loss of $35,334.78 and yet the statement for the
company's first full fiscal year, viz., July 1, 1930, to
June 30, 1931, shows a net profit, after reserves and
Some of the big monthly magazines have published articles concerning the practicability
taxes, of $42,758.49, in spite of generally unfavorable
business conditions.
of teaching piano playing by radio. While there is undoubtedly a great deal to be learned in
The American Piano Corporation produces a line of
this manner, it does seem that the use of phonograph records as a medium for instruction
instruments that are readily sold and carry a very
would be even more feasible in some ways than lessons by radio. We are not decrying the
good profit. The company's record for the first year
since its reorganization, especially considering the use of the radio, for we ^ ^ g n i z e the wonderful possibilities of such a course in stimulating
generally adverse business conditions, speaks for
the desire to learn to play, but from a practical viewpoint the use of phonographic recordings
itself.
At the present time the radio industry seems to be
in a peculiarly chaotic condition. One concern may
be working full-blast while another concern manu-
facturing a prcduct of about the same quality and
price will be begging for orders and selling below cost
of production in order to dispose of a surplus stock.
It is very encouraging, however, to learn that a con-
cern like Grigsby-Grunow has increased its produc-
tion to 4,125 sets daily as against 3,500 a month ago.
The United States Radio & Television Corporation
reported net earnings of $801,588 after all charges,
including depreciation and federal taxes, for the fiscal
year ended July 31, 1931. Radio Corporation of Amer-
ica has covered its six months' dividend requirements
on the preferred stock and, according to David Sar-
noff, president, its best period of business is still to
come. We have spoken elsewhere of the progress
that the Gulbransen people are making and upon
reviewing the entire field Presto-Times is pleased to
state that it appears that many are forging ahead in
spite of the unusual conditions that they now have to
buck.
has many advantages. A student can plav and re-plav a record whereas a radio broadcast
comes and is gone not to be recalled. Anv selection mav be studied at run time and it mav
be stopped at an)' part while the student either practices or commits to memory the difficult
sections.
Of course, the use ol either of these mediums for piano instruction is of necessity very
limited for it is an arrangement in which the teacher but not the student is heard and if ever
the element of personal instruction was necessary, it is in the teaching of the piano. IUit.
it their limitations are realized, the use of both radio and phonograph record should accom-
plish much along the line of instruction and example, just as the radio courses so far offered
have proven that there are virtually millions of people in the United States who are desirous
of learning to play the piano but lack either the time or money.
With the approach of the Fall trade, most of the important music houses are making a
tremendous effort to stimulate a revival in the piano industry. Judging by the amount of
newspaper advertising that is being placed, better business days are coining: for, the big
dealers and manutacturer branch stores are using printer's ink to an unusual extent just now.
Such an enormous volume of newspaper advertising and other publicity must act as an impetus
in the trade, with corresponding results.
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