Music Trade Review
Issue: 1921 Vol. 72 N. 2 - Page 5
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JANUARY 8, 1921
THE MUSIC TRADE REVIEW
5
PIANO PAPER WILL INCREASE IN VALUE DURING 1921
BEHNING TRAVELERS ON ROAD
Samuel C. Osborn, President of the Prominent Musical Merchandise Manufacturing Concern of
That Name, Shows Why Piano Paper Will Become Better Collateral During the Present Year
Paul Fink Making Six Weeks' Tour of Middle
West and C. A. Eyles to Visit Pacific Slope
Samuel C. Osborn, president of the Samuel
C. Osborn Mfg. Co., Chicago, has some very
interesting and emphatic opinions to offer rela-
tive to the probable status of piano paper dur-
ing 1921. Mr. Osborn during an interview with
The Review took occasion to present several
points that are distinctly logical and worthy of
thorough consideration on the part of the piano
manufacturers and dealers.
It is his contention that piano paper for 1921
will be safer to deal in than piano paper for
1920 and the greater part of 1919. At first
glance we might question his statement, but
there is a basis for consideration. Mr. Osborn
qualified his statement by going a little bit into
his past history. Having been in the instal-
ment business for over twenty-eight years, deal-
ing with all elements throughout the United
States; having conducted a national business;
having had experience collecting by mail and
through collectors, and, in his earlier career,
having visited thousands upon thousands of
homes in every part of the United States of
practically all nationalities and classes, the rich
and poor alike, the statement must be given
more consideration than if made by someone
who was working on theory alone.
"First," said Mr. Osborn, "when times are
prosperous and everyone is drawing a big salary,
regardless of whether he earns it or whether his
position is temporary or permanent, the work-
irgman is very much inclined to satisfy his ex-
travagant taste, or sometimes we might say
tastes, that he has" previously considered beyond
his reach. During these abnormal conditions,
such as existed during 1918, 1919 and the early
part of 1920, it was nothing uncommon for an
ordinary laborer, who was temporarily em-
ployed at a very high compensation, to make
up his mind that he would buy a high-priced
musical instrument, disregarding the fact en-
tirely that his employment was temporary. His
pay check would enable him to make the first
payment, and in not a few instances the piano
dealer of less seasoned type, through the en-
thusiasm of his aggressive salesmen, would
send a piano into a common laborer's home.
This might be considered among the extreme
cases. This same laborer might buy an elec-
tric player-piano that he could ill afford to buy
under normal conditions, with the result that
when business adjustment brings us around
somewhere near normal it is impossible for the
laborer to meet his payments. That means re-
possession, and that is what we call poor piano
paper.
"There are many instances where office help,
who are very transient during ordinary con-
ditions; girls who, under normal conditions,
would receive $12 or $15 per'week, actually re-
ceived during the abnormal period $40 to $45
per week, and felt that they could have a piano,
an electric one in some instances, and a high-
priced phonograph in other instances. It is no
trouble at all to save enough money for the first
payment, but as conditions become normal again
this will be another case of poor bank paper.
Do l.ot let me be understood to say that the
most seasoned piano dealers in the United
States, or most seasoned phonograph dealers,
would allow themselves to take on too big a
percentage of this class of paper. Now, in my
judgment, from a practical standpoint, were I
acting as a credit man in a bank or manufactur-
ing institution, I should very much hesitate to
load up too much on piano or phonograph paper
under abnormal conditions. On the other hand,
if I were asked to pass on the paper that has
bee/i secured since October 1, 1920, and the kind
of paper that will be secured in 1921, under
v'lidt is generally understood to be the re-
adjustment period or depression, I should say
that the paper was at least 33>3 safer than the
Paul Fink, sales manager of the Behning
paper secured under the abnormal market. The Piano Co., 133rd street and Alexander avenue,
purchasers naturally will be fewer, but the sales New York, and Charles A. Eyles, who repre-
you make will be better sales. The man out of
work will not attempt to purchase: those mak-
ing compensation below what would enable them
to make the payments will refrain from enter-
ing into a contract; in other words, the ten-
dency of caution will prevail. Naturally, you
are going to receive a much better class of piano
paper. The banks should loan more on piano
paper, and they will."
On being asked the prospects for the piano
and phonograph business for 1921 Mr. Osborn
took a view just a little different from that which
the statistician would take, he having been
tlirough the panic of 1893, as well as depressions
later on. He brought up the point that there
will be more salesmen available; that salesmen
will exert themselves more; that, while one
salesman will not sell as much goods in 1921
as one salesman might possibly have sold in
1919 or the early part of 1920, three salesmen
would sell, under normal conditions, more than
one salesman under abnormal conditions. And,
with the availability of salesmen it is his im-
pression that history will repeat itself; that the
strong selling organizations would do a satis-
factory business and that the class of paper
secured would be the basis for sound business;
Paul T. Fink
that the standard makes of instruments, pianos
and talking machines, would suffer the least; sents the concern in the Far West, left New
that the fly-by-night manufacturer, who was get- York on Monday night, and will each make
ting the money while the getting was good, who an extended trip to last over a period of
bad very little regard for business ethics, might six weeks. Mr. Fink will make a thorough
tour of the Middle Western cities, large and
find a hard time getting along.
small, while Mr. Eyles will again visit the
Mr. Osborn brought up another point that it Pacific Slope after making many stops at Im-
is hard for some to recognize as a fact. He portant points en route.
claims unconditionally that the private home
Both of these men are well and favorably
will do without furniture; that the housewife
will do without clothes; that the husband will known throughout the country, and besides hav-
deny himself many luxuries in order to provide ing a thorough knowledge of merchandising are
music in the home. He pointed out, again, his
former statement to the representative of The
Review that prohibition in the United States
had furnished a Z2>]/i per cent increase in the
voiume of trade in the musical instrument busi-
ness. He wanted to be understood very pia.niy
on one point, namely, that the musical instru-
ment should not be cons.dered a luxury, t.at
any article which had for its purpose the reli.iing
oi the elements in human life, any art.cie tnai
would help make better citizens, should never
be classed as a luxury. We would have lo.it
the war without music and we will iOse the next
war if we do not have it. Many nun lose iii
business without music, someth.ug lo take the
strain off their minds. The younj boys need
it. the young girls need it and it helps to lighten
the burdens of the housewife, and he can't see
why on earth anyone was ever responsible for
making the statement that music is a luxury
You might as well say that the text-books in the
public schools are luxuries. To do without
either one means to go back to the wilderness
and the -days of the savage.
Charles A. iiiyles
also well qualified in player regulation and demon-
NEW STORE IN SMITH CO. CHAIN
strating, which they use to good advantage for
the benefit of the dealers handling the Behning
CLEVELAND, O., January 3.—Another store added
to the chain of the A. B. Smith Piano Co. in pianos and player-pianos.
this territory is announced for the new year.
The Behning Piano Co. has just closed one
The establishment of the J. W. Brown Co., of the best years in the history of the business,
Canton, Ohio, has been acquired. The store and according to present plans has some inter-
will continue to be operated under the old firm esting developments under way which will be
name, and will be under the management of announced within a short time.
Mrs. Brown, who has had charge since the
death ^>f Mr. Brown, several months ago.
The Winter Piano Co., Milwaukee, has been
incorporated with capital stock of $50,000 by
The capital stock of the Sterling Piano Co., William R. Winter, Joseph E. Noble and Wil-
New York, has been increased from $175,000 to liam K. Peckman, to manufacture and deal in
musical instruments.
$1,000,000.
JANUARY 8, 1921
THE MUSIC TRADE REVIEW
5
PIANO PAPER WILL INCREASE IN VALUE DURING 1921
BEHNING TRAVELERS ON ROAD
Samuel C. Osborn, President of the Prominent Musical Merchandise Manufacturing Concern of
That Name, Shows Why Piano Paper Will Become Better Collateral During the Present Year
Paul Fink Making Six Weeks' Tour of Middle
West and C. A. Eyles to Visit Pacific Slope
Samuel C. Osborn, president of the Samuel
C. Osborn Mfg. Co., Chicago, has some very
interesting and emphatic opinions to offer rela-
tive to the probable status of piano paper dur-
ing 1921. Mr. Osborn during an interview with
The Review took occasion to present several
points that are distinctly logical and worthy of
thorough consideration on the part of the piano
manufacturers and dealers.
It is his contention that piano paper for 1921
will be safer to deal in than piano paper for
1920 and the greater part of 1919. At first
glance we might question his statement, but
there is a basis for consideration. Mr. Osborn
qualified his statement by going a little bit into
his past history. Having been in the instal-
ment business for over twenty-eight years, deal-
ing with all elements throughout the United
States; having conducted a national business;
having had experience collecting by mail and
through collectors, and, in his earlier career,
having visited thousands upon thousands of
homes in every part of the United States of
practically all nationalities and classes, the rich
and poor alike, the statement must be given
more consideration than if made by someone
who was working on theory alone.
"First," said Mr. Osborn, "when times are
prosperous and everyone is drawing a big salary,
regardless of whether he earns it or whether his
position is temporary or permanent, the work-
irgman is very much inclined to satisfy his ex-
travagant taste, or sometimes we might say
tastes, that he has" previously considered beyond
his reach. During these abnormal conditions,
such as existed during 1918, 1919 and the early
part of 1920, it was nothing uncommon for an
ordinary laborer, who was temporarily em-
ployed at a very high compensation, to make
up his mind that he would buy a high-priced
musical instrument, disregarding the fact en-
tirely that his employment was temporary. His
pay check would enable him to make the first
payment, and in not a few instances the piano
dealer of less seasoned type, through the en-
thusiasm of his aggressive salesmen, would
send a piano into a common laborer's home.
This might be considered among the extreme
cases. This same laborer might buy an elec-
tric player-piano that he could ill afford to buy
under normal conditions, with the result that
when business adjustment brings us around
somewhere near normal it is impossible for the
laborer to meet his payments. That means re-
possession, and that is what we call poor piano
paper.
"There are many instances where office help,
who are very transient during ordinary con-
ditions; girls who, under normal conditions,
would receive $12 or $15 per'week, actually re-
ceived during the abnormal period $40 to $45
per week, and felt that they could have a piano,
an electric one in some instances, and a high-
priced phonograph in other instances. It is no
trouble at all to save enough money for the first
payment, but as conditions become normal again
this will be another case of poor bank paper.
Do l.ot let me be understood to say that the
most seasoned piano dealers in the United
States, or most seasoned phonograph dealers,
would allow themselves to take on too big a
percentage of this class of paper. Now, in my
judgment, from a practical standpoint, were I
acting as a credit man in a bank or manufactur-
ing institution, I should very much hesitate to
load up too much on piano or phonograph paper
under abnormal conditions. On the other hand,
if I were asked to pass on the paper that has
bee/i secured since October 1, 1920, and the kind
of paper that will be secured in 1921, under
v'lidt is generally understood to be the re-
adjustment period or depression, I should say
that the paper was at least 33>3 safer than the
Paul Fink, sales manager of the Behning
paper secured under the abnormal market. The Piano Co., 133rd street and Alexander avenue,
purchasers naturally will be fewer, but the sales New York, and Charles A. Eyles, who repre-
you make will be better sales. The man out of
work will not attempt to purchase: those mak-
ing compensation below what would enable them
to make the payments will refrain from enter-
ing into a contract; in other words, the ten-
dency of caution will prevail. Naturally, you
are going to receive a much better class of piano
paper. The banks should loan more on piano
paper, and they will."
On being asked the prospects for the piano
and phonograph business for 1921 Mr. Osborn
took a view just a little different from that which
the statistician would take, he having been
tlirough the panic of 1893, as well as depressions
later on. He brought up the point that there
will be more salesmen available; that salesmen
will exert themselves more; that, while one
salesman will not sell as much goods in 1921
as one salesman might possibly have sold in
1919 or the early part of 1920, three salesmen
would sell, under normal conditions, more than
one salesman under abnormal conditions. And,
with the availability of salesmen it is his im-
pression that history will repeat itself; that the
strong selling organizations would do a satis-
factory business and that the class of paper
secured would be the basis for sound business;
Paul T. Fink
that the standard makes of instruments, pianos
and talking machines, would suffer the least; sents the concern in the Far West, left New
that the fly-by-night manufacturer, who was get- York on Monday night, and will each make
ting the money while the getting was good, who an extended trip to last over a period of
bad very little regard for business ethics, might six weeks. Mr. Fink will make a thorough
tour of the Middle Western cities, large and
find a hard time getting along.
small, while Mr. Eyles will again visit the
Mr. Osborn brought up another point that it Pacific Slope after making many stops at Im-
is hard for some to recognize as a fact. He portant points en route.
claims unconditionally that the private home
Both of these men are well and favorably
will do without furniture; that the housewife
will do without clothes; that the husband will known throughout the country, and besides hav-
deny himself many luxuries in order to provide ing a thorough knowledge of merchandising are
music in the home. He pointed out, again, his
former statement to the representative of The
Review that prohibition in the United States
had furnished a Z2>]/i per cent increase in the
voiume of trade in the musical instrument busi-
ness. He wanted to be understood very pia.niy
on one point, namely, that the musical instru-
ment should not be cons.dered a luxury, t.at
any article which had for its purpose the reli.iing
oi the elements in human life, any art.cie tnai
would help make better citizens, should never
be classed as a luxury. We would have lo.it
the war without music and we will iOse the next
war if we do not have it. Many nun lose iii
business without music, someth.ug lo take the
strain off their minds. The younj boys need
it. the young girls need it and it helps to lighten
the burdens of the housewife, and he can't see
why on earth anyone was ever responsible for
making the statement that music is a luxury
You might as well say that the text-books in the
public schools are luxuries. To do without
either one means to go back to the wilderness
and the -days of the savage.
Charles A. iiiyles
also well qualified in player regulation and demon-
NEW STORE IN SMITH CO. CHAIN
strating, which they use to good advantage for
the benefit of the dealers handling the Behning
CLEVELAND, O., January 3.—Another store added
to the chain of the A. B. Smith Piano Co. in pianos and player-pianos.
this territory is announced for the new year.
The Behning Piano Co. has just closed one
The establishment of the J. W. Brown Co., of the best years in the history of the business,
Canton, Ohio, has been acquired. The store and according to present plans has some inter-
will continue to be operated under the old firm esting developments under way which will be
name, and will be under the management of announced within a short time.
Mrs. Brown, who has had charge since the
death ^>f Mr. Brown, several months ago.
The Winter Piano Co., Milwaukee, has been
incorporated with capital stock of $50,000 by
The capital stock of the Sterling Piano Co., William R. Winter, Joseph E. Noble and Wil-
New York, has been increased from $175,000 to liam K. Peckman, to manufacture and deal in
musical instruments.
$1,000,000.
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