Music Trade Review

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Reorganization of Estey-
Welte Corp. Is Proposed
Meeting of Stockholders of Company Called for
July 7 to Consider New Stock Issue and
Change in the Company Name
A special meeting of stockholders of the
Estey-Welte Corp. has been called for July 7 to
consider a proposed reorganization of the com-
pany and a change in name of the corporation
lo the Welte Corp.
A tentative plan provides for an authorized
capitalization of 250,000 shares of a new no-par
preferred stock, 150,000 shares of no-par com-
mon stock and $500,000 five-year 6 per cent de-
bentures. The preferred stock is to have pref-
erence in the event of liquidation up to $25 a
share and accumulated dividends, which become
cumulative after January 1, 1929, and will have
equal voting power with the common stock in
case of a two years' default of the preferred
dividends.
After a preferential dividend of 50 cents a
share on the preferred the common stock will
be entitled to 50 cents a share, and thereafter
earnings applicable to dividends will be divided
pro rata between the preferred and common.
The debentures are to be offered at 90 and
will carry with them one share of common stock
for each $100 par value of notes and will be con-
vertible at any time before maturity into pre-
ferred stock on the basis of ten shares of pre-
ferred for each $100 par value of notes.
It is understood that the proposed new pre-
ferred stock will be distributed share for share
for the present outstanding 176,000 shares of
Class A stock, and that 100,000 shares of the
new common will be distributed on the same
basis for the present Class B stock.
J. Milton Delcamp
Ampico Vice-President
Manager of Ampico Corp. Made Vice-President
and Director at Recent Meeting of the Board
—Active in Ampico Promotion
J. Milton Delcamp, manager of the Knabe
Ampico Corp., was elected vice-president and
a director in the corporation at a meeting of
the board held last week. Mr. Delcamp, who
since joining the American Piano Co. has been
active in Ampico promotion, was some months
ago placed in entire charge of Ampico activ-
ities, and his election as vice-president and
director is in recognition of his successful ef-
forts in that direction.
Chickering Grand as Prize
PITTSBURGH, PA., June 28.—Lechner & Schoen-
berger awarded a Chickering grand piano as
first prize at the graduation exercises of the
Pittsburgh Musical Institute, the recipient
being George Miller. The prize was awarded
to the student in the class showing the most
progress in study.
Rudolph H. Wurlitzer Now
President of Wurlitzer Go.
Succeeds in That Post Howard E. Wurlitzer,
Who Becomes Chairman of the Board—Other
Officers Elected at Annual Meeting
C. B. Amorous, of Aeolian
Go., Off on Extended Trip
Will Visit Aeolian Co. Dealers in the Far West
and Attend Convention of Western Music
Trades Association
C. B. Amorous, director of wholesale sales
of the Aeolian Co., has left on an extended
business trip for the purpose of visiting Aeolian
representatives in the Far West. Mr. Amorous
CINCINNATI, O., June 25.—Rudolph H. Wur-
litzer, who has been connected with the Rudolph
Wurlitzer Co. since 1894, and since 1912 has
been its vice-president, was elected president of
the company at the annual meeting of the com-
pany this week, succeeding Howard E. Wurlitzer,
who becomes chairman of the board of direc-
tors. The latter had been president since 1912
and joined the company in 1892.
At the meeting the following directors were
elected: Howard E. Wurlitzer, chairman; Ru-
dolph H. Wurlitzer, Farny R. Wurlitzer, Thos.
P. Clancy, James L. Ryan, Raimund B.
Wurlitzer and I. H. Lyons. The new officers
of the company are Rudolph H. Wurlitzer,
president; Farny R. Wurlitzer, vice-president
and treasurer; Thos. P. Clancy, vice-president
and assistant treasurer; James L. Ryan, vice-
president; John P. Weis, secretary; Walter
Wolf, assistant treasurer, and Ruth Selby, assist-
ant secretary.
Charles P. Vogt Elected
Knabe & Go. Vice-President
C. B. Amorous
expects to be in San Francisco in time to at-
Factory Superintendent Thus Honored Has tend the convention of the Western Music
Been in the Employ of Wm. Knabe & Co. Trades Association, which will be held in that
city.
for Nearly a Half-Century
"I am intensely interested in the piano busi-
Charles P. Vogt, for many years superin- ness and enthusiastic over the possibilities in
tendent of the factory of Wm. Knabe & Co. the line," said Mr. Amorous on the eve of his
in Baltimore, was promoted to the vice-presi- departure. "While, of course, I shall not be
dency of the company at a recent meeting of able to pose as an expert piano man probably
the board of directors, in recognition of his for a long time, if ever, nevertheless the mer-
service of nearly fifty years with the company. chandising problems are extremely fascinating
It was in 1878 that Mr. Vogt took his first to me. It appears to me as though this in-
position in the stockroom of the Knabe factory, dustry has been so absorbed in the aesthetic
where his father, Peter Vogt, was employed. and artistic aspects of its activity that it has
He advanced steadily through the various de- neglected to adopt the sound principles of the
partments of the factory and thus acquired a methods of doing business characteristic of
complete knowledge of every branch of piano other lines. I am confident that with the adop-
making. Before his father died in 1910, after tion of these ideas the piano business will easily
fifty-four years in Knabe service, he had seen resume its rightful place. It is certainly a tre-
his son advance to the factory's highest place. mendously interesting challenge to attempt this
Mr. Vogt is a piano craftsman who sticks transformation, and it has been very gratifying
close to the ideals of the old school of piano to note the readiness of the piano merchants
making, and has been particularly successful generally to discuss and adopt these ideas. The
in instilling those ideas into the minds of the piano is unquestionably one of the prime neces-
younger generation who have come to fill their sities of to-day's civilization. When you regard
places at the factory benches. For the part it as such and use up-to-date methods in pre-
that he has played in Knabe progress his pro- senting it to the public, you can rest assured
the public is going to respond."
motion is well deserved.
STARR PIANOS
STARR PHONOGRAPHS
GENNETT RECORDS^
(Represent the HiqhestoAttainment in cMnsical (-Worth
We STARR PIANO COMPANY
Richmond. Indiana
Established 1872
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