Music Trade Review
Issue: 1922 Vol. 74 N. 22 - Page 5
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JUNE 3, 1922
THE MUSIC TRADE REVIEW
REORGANIZATION OF BEHNING PIANO CO. EFFECTED
All Creditors Accept Preferred Stock for Claims and Court Signs Discharge Order—Henry Behn-
ing Is President and Gustav Behning Is Secretary of New Organization
On Wednesday, May 31, upon the signing of a
discharge from bankruptcy on petition of all the
creditors of the Behning Piano Co., by Judge
J. W. Mack, of the United States District Court,
Southern District, New York, a reorganization
Henry Behning
of the company was effected whereby the fol-
lowing officers were elected: Henry Behning,
president; C. Albert Jacob, Jr., vice-president; F.
A Wessell, treasurer; Gustave Behning, secre-
tary. These, and three others, two of which served
on the creditors' committee, who have handled
the details of bringing this reorganization about,
constitute the board of directors.
Receivers in equity were appointed for the
Behning Piano Co. on December 20, 1921, by
Judge A. N. Hand. These receivers were Ed-
ward H. Childs and Stuart B. Warner. On Jan-
uary 14, a meeting of the creditors was held at
Gustav Behning
the Behning factory, 123rd street and Alexander
avenue, New York, where it was voted by a ma-
jority of the creditors that a greater opportunity
to continue the business and eventually return it
to Henry and Gustavo Behning with the name
and good-will preserved would lie in petitioning
the company into bankruptcy and asking the
court to appoint a trustee familiar with piano
manufacturing. Upon this decision, a petition in
bankruptcy was filed on January 11 and Judge
Hand appointed Charles Jacob receiver. Since
that time the factory has been operated under
his experienced hand.
On February 1 another meeting of the credi-
tors was held at which twenty-four creditors
were present representing claims amounting to
approximately $120,000, and it was voted by these
creditors that a reorganization be effected by the
acceptance by the creditors of preferred stock
for the amount of their claims. The creditors'
committee, composed of Peter Schwamb, Alex-
ander Mullen and F. A. Wessell, and the sec-
retary of this committee, G. L. Albig, then pro-
ceeded to secure the signatures of all creditors
on the agreement with the result that, owing to
the confidence placed in the ability of the mem-
bers of the Behning family, who. have always
borne a reputation beyond reproach since the
business was founded in 1861, the Behning Piano
Co. is again in a position to resume full opera-
tions as heretofore.
The co-operation of the crdeitors in this in-
stance is worthy of particular notice, while the
time and effort devoted to the interest of the
business without compensation by Charles Jacob
as receiver has been highly commendable and
the work of Mr. Albig as secretary of the credi-
tors' committee, perhaps the hardest role to play
in bringing about this reorganization, has been
untiring.
During the period since the receivers in equity
were appointed, the operation of the factory has
been made possible through the confidence of
the many Behning dealers throughout the coun-
try who have continually placed orders as well
as having promised a larger volume of business as
soon as the reorganization could be effected.
ASeriesty
MARSHALL BREEDEN
P/ANO TRAVELER—LOS ANGELES
10—THE FINICKY DEALER
Of all the pests that ever pestered the
worst pest is the small buyer who persist-
ently complains about the condition of the
pianos upon arrival. This species will de-
clare that because one of the bass strings
sounds dead he should have a ten-dollar
discount and that a scratch on the fall
board is worth another ten bones.
Piano travelers come to know how to
handle the finicky dealer and handle him
without gloves. If they don't they quickly
find themselves wiring constantly to the
factory asking for discounts and cash allow-
ances for trivial little marks or scratches
on every piano delivered to one of these
finicky pests.
It is good business not to question any
real damage to an instrument, and it is also
good business to help the dealer recover
from the carrier for such damage, but it is
mighty bad business to permit the finicky
dealer to knock off a five spot just because
a couple of screws happen to be loose some-
where.
REPORTS SANE TRADE PROGRESS
THE SITUATION IN BIRMINGHAM
Philadelphia Reserve Bank Sees Constructive
Return to Business Normalcy
Conditions in That Section of the South Have
Shown Marked Improvement Since January 1,
According to a Report From the Birmingham
Chamber of Commerce Recently Issued
Reporting on the outlook for trade and indus-
try, in its monthly bulletin as of the end of May,
the Philadelphia Reserve Bank reports signs of
BIRMINGHAM, ALA., May 29.—According to P. A.
general and rapid business revival, with business Smith, of the Chamber of Commerce of this city,
entering a "safe, sane and constructive return to there has been a real business improvement evi-
normal. Not since the beginning of the econom- denced in this locality. In this connection Mr.
ic readjustment period," the bank declares, Smith says:
"have the replies of our correspondents been so
"Business conditions in Birmingham have
unanimously of a hopeful, healthful, and cheer- shown marked improvement since January 1,
ful tone.
Even the most conservative and 1922. One of the last industrial cities in the
guarded ones break through their shells of con- country to feel the effects of the nation-wide de-
servatism and speak as though relieved of a pression, Birmingham is also proving one of the
heavy burden.
first to recover.
"By this we do not wish to be interpreted that
"During the early part of May the Tennessee
we are entering an industrial millennium. What Coal & Iron Co. announced construction of a new
we do wish to say is that we are more firm than $1,000,000 merchant mill with an estimated month-
ever in the belief that business is entering a safe, ly capacity of 10,000 tons of plain or deformed
sane and constructive return to so-called normal." bars, round or square, to care for the increased
demands for bars in the Southern territory and
HABLER WITH UNITED PIANO CORP. for export, several new firms incorporated and
several existing firms announced enlargements.
The United Piano Corp., of New York, has During April twenty-one new business concerns
placed L. T. Habler in charge of its college de- incorporated, three blast furnaces resumed opera-
partment. Mr. Habler's headquarters are in tion, making eighteen furnaces in blast, as com-
Baltimore, Md. E. S. Williams, son of James pared with nine a year ago; the Virginia Bridge
II. Williams, president of the corporation, has & Iron Co. entered the district, taking over the
been placed in charge of correspondence con- property of another structural steel plant and
announcing improvements; large orders were
nected with the college department.
booked for railroad cars, etc., and practically
every plant in the district which had not already
NEW SHONINQER HEADQUARTERS
reached normal capacity increased its output
Headquarters have been established in Oak- materially.
"Improvement in industrial conditions is re-
land, Cal., by the B. Shoninger Piano Co., of
New York. This branch will act as distributor flected in business circles. Wholesale and re-
for the Pacific Coast trade.
Distributing tail merchants, automobile dealers, real estate
branches are also located in Portland, Ore., and and insurance men, and other lines all report
steady increase in the volume of sales month by
Los Angeles, Cal.
month, since the first of the year. The general
depression has given way to a note of optimism
J. M. COFFMAN BUYS BUSINESS
which is marked. Business men and officials of
MODESTO, CAL., May 27.—By the terms of a deal industrial plants are in agreement that the steady
just closed E. M. Grant sold his share in the upward trend will continue."
Modesto Music Co., 910 Tenth street, this city,
James F. Gill, who has been engaged in the
to J. M. Coffman. The company will continue
to run as the Modesto Music Co., with J. M. music business in Meriden, Conn., since 1872,
is planning to sell his establishment and retire.
Coffman as the owner and manager.
JUNE 3, 1922
THE MUSIC TRADE REVIEW
REORGANIZATION OF BEHNING PIANO CO. EFFECTED
All Creditors Accept Preferred Stock for Claims and Court Signs Discharge Order—Henry Behn-
ing Is President and Gustav Behning Is Secretary of New Organization
On Wednesday, May 31, upon the signing of a
discharge from bankruptcy on petition of all the
creditors of the Behning Piano Co., by Judge
J. W. Mack, of the United States District Court,
Southern District, New York, a reorganization
Henry Behning
of the company was effected whereby the fol-
lowing officers were elected: Henry Behning,
president; C. Albert Jacob, Jr., vice-president; F.
A Wessell, treasurer; Gustave Behning, secre-
tary. These, and three others, two of which served
on the creditors' committee, who have handled
the details of bringing this reorganization about,
constitute the board of directors.
Receivers in equity were appointed for the
Behning Piano Co. on December 20, 1921, by
Judge A. N. Hand. These receivers were Ed-
ward H. Childs and Stuart B. Warner. On Jan-
uary 14, a meeting of the creditors was held at
Gustav Behning
the Behning factory, 123rd street and Alexander
avenue, New York, where it was voted by a ma-
jority of the creditors that a greater opportunity
to continue the business and eventually return it
to Henry and Gustavo Behning with the name
and good-will preserved would lie in petitioning
the company into bankruptcy and asking the
court to appoint a trustee familiar with piano
manufacturing. Upon this decision, a petition in
bankruptcy was filed on January 11 and Judge
Hand appointed Charles Jacob receiver. Since
that time the factory has been operated under
his experienced hand.
On February 1 another meeting of the credi-
tors was held at which twenty-four creditors
were present representing claims amounting to
approximately $120,000, and it was voted by these
creditors that a reorganization be effected by the
acceptance by the creditors of preferred stock
for the amount of their claims. The creditors'
committee, composed of Peter Schwamb, Alex-
ander Mullen and F. A. Wessell, and the sec-
retary of this committee, G. L. Albig, then pro-
ceeded to secure the signatures of all creditors
on the agreement with the result that, owing to
the confidence placed in the ability of the mem-
bers of the Behning family, who. have always
borne a reputation beyond reproach since the
business was founded in 1861, the Behning Piano
Co. is again in a position to resume full opera-
tions as heretofore.
The co-operation of the crdeitors in this in-
stance is worthy of particular notice, while the
time and effort devoted to the interest of the
business without compensation by Charles Jacob
as receiver has been highly commendable and
the work of Mr. Albig as secretary of the credi-
tors' committee, perhaps the hardest role to play
in bringing about this reorganization, has been
untiring.
During the period since the receivers in equity
were appointed, the operation of the factory has
been made possible through the confidence of
the many Behning dealers throughout the coun-
try who have continually placed orders as well
as having promised a larger volume of business as
soon as the reorganization could be effected.
ASeriesty
MARSHALL BREEDEN
P/ANO TRAVELER—LOS ANGELES
10—THE FINICKY DEALER
Of all the pests that ever pestered the
worst pest is the small buyer who persist-
ently complains about the condition of the
pianos upon arrival. This species will de-
clare that because one of the bass strings
sounds dead he should have a ten-dollar
discount and that a scratch on the fall
board is worth another ten bones.
Piano travelers come to know how to
handle the finicky dealer and handle him
without gloves. If they don't they quickly
find themselves wiring constantly to the
factory asking for discounts and cash allow-
ances for trivial little marks or scratches
on every piano delivered to one of these
finicky pests.
It is good business not to question any
real damage to an instrument, and it is also
good business to help the dealer recover
from the carrier for such damage, but it is
mighty bad business to permit the finicky
dealer to knock off a five spot just because
a couple of screws happen to be loose some-
where.
REPORTS SANE TRADE PROGRESS
THE SITUATION IN BIRMINGHAM
Philadelphia Reserve Bank Sees Constructive
Return to Business Normalcy
Conditions in That Section of the South Have
Shown Marked Improvement Since January 1,
According to a Report From the Birmingham
Chamber of Commerce Recently Issued
Reporting on the outlook for trade and indus-
try, in its monthly bulletin as of the end of May,
the Philadelphia Reserve Bank reports signs of
BIRMINGHAM, ALA., May 29.—According to P. A.
general and rapid business revival, with business Smith, of the Chamber of Commerce of this city,
entering a "safe, sane and constructive return to there has been a real business improvement evi-
normal. Not since the beginning of the econom- denced in this locality. In this connection Mr.
ic readjustment period," the bank declares, Smith says:
"have the replies of our correspondents been so
"Business conditions in Birmingham have
unanimously of a hopeful, healthful, and cheer- shown marked improvement since January 1,
ful tone.
Even the most conservative and 1922. One of the last industrial cities in the
guarded ones break through their shells of con- country to feel the effects of the nation-wide de-
servatism and speak as though relieved of a pression, Birmingham is also proving one of the
heavy burden.
first to recover.
"By this we do not wish to be interpreted that
"During the early part of May the Tennessee
we are entering an industrial millennium. What Coal & Iron Co. announced construction of a new
we do wish to say is that we are more firm than $1,000,000 merchant mill with an estimated month-
ever in the belief that business is entering a safe, ly capacity of 10,000 tons of plain or deformed
sane and constructive return to so-called normal." bars, round or square, to care for the increased
demands for bars in the Southern territory and
HABLER WITH UNITED PIANO CORP. for export, several new firms incorporated and
several existing firms announced enlargements.
The United Piano Corp., of New York, has During April twenty-one new business concerns
placed L. T. Habler in charge of its college de- incorporated, three blast furnaces resumed opera-
partment. Mr. Habler's headquarters are in tion, making eighteen furnaces in blast, as com-
Baltimore, Md. E. S. Williams, son of James pared with nine a year ago; the Virginia Bridge
II. Williams, president of the corporation, has & Iron Co. entered the district, taking over the
been placed in charge of correspondence con- property of another structural steel plant and
announcing improvements; large orders were
nected with the college department.
booked for railroad cars, etc., and practically
every plant in the district which had not already
NEW SHONINQER HEADQUARTERS
reached normal capacity increased its output
Headquarters have been established in Oak- materially.
"Improvement in industrial conditions is re-
land, Cal., by the B. Shoninger Piano Co., of
New York. This branch will act as distributor flected in business circles. Wholesale and re-
for the Pacific Coast trade.
Distributing tail merchants, automobile dealers, real estate
branches are also located in Portland, Ore., and and insurance men, and other lines all report
steady increase in the volume of sales month by
Los Angeles, Cal.
month, since the first of the year. The general
depression has given way to a note of optimism
J. M. COFFMAN BUYS BUSINESS
which is marked. Business men and officials of
MODESTO, CAL., May 27.—By the terms of a deal industrial plants are in agreement that the steady
just closed E. M. Grant sold his share in the upward trend will continue."
Modesto Music Co., 910 Tenth street, this city,
James F. Gill, who has been engaged in the
to J. M. Coffman. The company will continue
to run as the Modesto Music Co., with J. M. music business in Meriden, Conn., since 1872,
is planning to sell his establishment and retire.
Coffman as the owner and manager.
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