Music Trade Review

DECEMBER
8, 1923
THE
MUSIC
TRADE REVIEW
9
Trade Forecasts Prosperity in 1924-(Continued from page 7)
reached their old basis, and are buying fairly
limitedly.
I feel that 1924 will see, as a whole, a better
average volume of piano business for the coun­
try, but that it is liable to be "spoHy" with the
wmmercial grand playing an important part in
taking the place of the upright.
Milton Piano Co., New York. By George W.
Allen, President:
I was away on a trip through the Middle
\Vest recently and I want to say that I was
exceedingly pleased to note during my travels
the interest that dealers in general were giving
to organization work, and particularly to the
work being done by the :Music Industries
Chamber of Commerce.
From what I have observed during the year
I here seems to be general satisfaction over trade
wnditions and decided optimism as to business
prospects for the coming year. The Milton Co.
has formulated plans not only fora much larger
business, due to better manufacturing facilities
in its new plant, which it has only recently
occupied, but also for a decided improvement
in the quality of its product.
Poole Piano Co., Boston, Mass. By Ava W.
Poole, President:
The outstanding feature of the trade this year
seems to the writer to be the great increase
in the demand for small quality grands and up­
right foot-pump players of the better grade. Of
course, we all know that the reproducing play­
ers, both upright and grand, have increased in
popularity, but this, I think, was generally an­
ticipated because of its being comparatively new
on the market.
Steinway & Sons, New York. By Hermann
Irion:
Answering your inquiry as to what has been
the outstanding accomplishment in our trade
during the past year and what I believe the
imm'ediate future promises to o·ffer in a business
sense, it seems to me that the most important
accomplishment of the year 1923 lies in the fact
that the trade, as a whole, has been prosperous
and has not encountered any important failures
and that it has been able to increase the strength
of its financial position. I believe this state­
ment may be made as being generally correct.
As to the outlook for the immediate future I
consider that to be fair. Economic condItions
in our country, generally speaking, are sound.
Both agriculture and industry have had a pros­
perous year, even if in some highly specialized
portions of both there was room for improve­
ment.
The black cloud which still hangs over the
rehabilitation of satisfactory economic condi­
tions throughout the civili zed business world is
the unsatisfactory political situation in EUrope
which hinders the full expansion of commercial
intercourse between ourselves and the European
countries. If and when that is removed, there
should be no further obstacle to an unfolding
of prosperity to the fullest limit without neces­
sarily an abno·rmal boom which would in its
train bring about a corresponding reaction.
\Vith our labor fully employed, however, at
good wages and no overproduction in any line
there is quite sure 10 be enough business for
everyone during the next six or eight months,
which is as far as onyone can safely foretell the
future.
Charles M. Stieff, Inc., Baltimore, Md. By
George W. Stieff, President:
Your letter of November 5 received in which
you wish me, first, to give my opinion of the
"existing conditions and prosp.ects in the piano
industry" ; second, my views of the "outstand­
ing accomplishment of the trade during the past
year," and, third, what I believe the "immediate
future promises to offer in a business sense."
First, as to the prospects of the piano indus­
try at the present writing. The prospects seem
to be exceptionally good. As you no doubt know
that our firm has quite a chain of branch stores,
also agencies, throughout the country; in fact,
our branch stores coyer practically the entire
Eastern section of the United States and in
almost every section the local conditions sur­
rounding the different branches are excep­
tionally good. I just returned from Harrisburg,
where I found conditions especially good in the
coal fields, also the railroads. In the South
the tobacco section is flourishing, and as you'
know cotton is also bringillg good prices. I
found that in almost (' very locality everyone
seemed to have a position who wanted one,
and conditions for the future seem to be ex­
ceptionally good. This is my candid opinion.
Second, as to what has been the out<;tanding
accomplishment of the trad" during the past
year, and I think the general conditions in
the piano industry, as a whole, have been on a
higher idea, although you will always find cheap
piano advertising, yet there has been more high­
grade advertising; in oth.er wo·rds, it is the
writer's opinion that the piano trade has cer­
tainly occupied a higher plane than in years
past.
1\ow, as regards the immediate future, I have
practically answered this question in my first
reply, inasmuch as everybody seems to be work ­
ing and different commodities bringing' good
prices, naturally the immediate future business
looks good. I can only add that our business
th i, year is very m.uch in excess of th.e past
year's business, both as to volume and quality.
The prospects for a good Christmas are also
bright, and I personally am very optimistic
up to at ' least the first of the year, and as the
country in general is in exceptionally good con­
dition T see no reason why this should not
continue as far as I can now see.
Victor Talking Machine Co., Camden, N. J. By
Ralph L. Freeman, Director of Distribution:
This year has been one in which substantial
progress towards stability in the industry and
creation of favo·rable conditions for the future
have been achieved. The year 1924 promises to
be a year for which plans can be made in ad­
vance with confidence. Our manufacturing
program, already developed for the first four
months of 1924, calls for maximum production
in all departments and full use of our greatly
enlarged plant.
Weaver Piano Co., York, Pa. By W. S. Bond:
During this year, 1923, there has been a great
revival of interest in music. It has been largely
brought about by the Bureau for the Advance­
ment of Music. There is more of a demand for
concerts by leading artists; the schools are giv·
ing more attention to the study of music and
the general public has a higher appreciation of
music.
Since the piano is the fundamental instrument
of all music this creates a very promising out­
look for the future of the piano business. One
can scarcely conceive of a family which is in­
terested in music doing without a piano. The
riano is necessary for the accompaniment of
voices and of practically all other musical in­
struments. It is the essential instrument of
musIc.
There is also an increased interest in the
private study of music, and this increases the
demand for pianos of the better quality.
The crying need of the piano business is for
tnOrf strong retail salesmen. There is a new
interest in the study of salesmanship in Y. M.
C. A. classes, also in colleges and universities,
\\ ·ltich promises an increased supply of expert
,alesmen, some 0.[ whom will drift into the
piano business.
There is also much undeveloped material in
every community that would make good as
piano salesmen if selected and trained into the
business. The ~rcat majority of merchants
claim that their best salesmen are those they
broke into the business themselves.
Taking the situation as a whole, the outlook
for the piano business was never more promis­
ing than it is for 1924 if general business condi­
tions remain good.
But this is not the time for excessively long
credits. \Ve should all regard it as the time to
raise the largest amount of cash from piano
sales and collections. People are practically all
employed at high wages, and the opportunities
to raise money from the piano business will
never be better-perhaps never again as good in
this generation.
Western Industry Looking Forward ~o
Big Demand During the Coming Year
Bush & Gerts Piano Co., Chicago. By W. S.
Miller, Vice-president:
Business during the year 1923 has been much
more satisfactory than during the preceding
year, and has shown a steady growth through­
out the entire twelve months, With tlte excep­
tion of the usual dropping' off through the Sum­
mer months.
The outstanding feature, as I see it, is the
development of the grand piano and the enol'
mously increased demand lor this style of in ·
strument, and I believe that within the next
four or five years fully 50 per cent of all of the
instruments made will be grands, and that quite
a percentage of these will be of the reproducing
variety.
As to what the n~xt year may develop, one
man's guess is as good as another, but I am
very optimistically inclined and believe that it
will be a good normal year. I do not anticipate
any wonderful boom, but rather the continua­
tion of a healthful gro\\ th of 1923.
I am of the opinion that the best business
will be secured at the manufacturing centers,
where labor is employed at exceedingly high
wages, and that the majority of the piano>; sold
next year will be to this class, rather than to
the agricultural class. In some sections of the
country, however, the farmer has not been hard
hit and in these sections undoubtedly a good
many pianos will be sold, but in the wheat belt
and in some of the oil-producing sections 1 do
not look for much business next year. How­
ever, as a whole, I think that we will all be well
plea sed with the outcome when 1925 is ushered
111.
Jesse French & Sons Piano Co., New Castle,
Ind. By H. Edgar French, Vice-president:
To my mind the most outstanding feature of
the 1923 music trade has been the astonishing
increase in this country's exports to foreign
shores. 'vVe have contributed modestly to this
huge total, having worked long and earnestly
to learn our customers' wants and supply them
according to their desires. Up to 1923 our ex­
ports were mainly pianos, but this year it has
been nearly or quite two-thirds players.
Grands have not yet started abroad, at least
with us, but the domestic demand has been way
ahead of our supply, notwithstanding the Jesse
French & Sons grand is a very fine and conse­
quently expensive instrument.
The year 1923 should show the largest vol­
ume of sales in our history, and we 'are hope­
ful of a moderate increase during 1924-we have
set our mark a little higher, and hope to, there­
by, be able to give better service and prompter
shipments when the Fall · rush begins all over
again.
Dealers just will not order ahead, leaving the
manufacturers to guess their needs, and.:.we· do
the best we can, but how can a dealer blame a
manufacturer if shipments of players run
steadily 43 per cent all the year up to October
and then suddenly jump to 80 per cent? Some­
body just has to wait and that somebody is the
man who puts his order in at the eleventh hO'UL
(Continued on page 13)