Presto
Issue: 1922 1893 - Page 25
25
PRESTO
November 4, 1922.
COINOLAS
FOR
THEATRES, CHURCHES
and LODGE HALLS
Style 50
FROM THE BIGGEST
ORCHESTRION
INVESTORS IN RADIO
Great Newspaper Gives Some Facts Which
May Serve as a Precaution to Enthusiasts
in the Latest Glittering Bauble.
A campaign is being launched for the sale of stock
of the Wesley company, manufacturers of radio-
phones and phonographs, says the Chicago Tribune
"Investment Guide." The sale of this stock, although
ostensibly handled by the company direct, is being
conducted by the same concern that handled the
Davis Boring Tool company stock and is under the
direction of C. S. Rieman, who also promoted the
Elgin Motor Car company, which recently went into
the hands of a receiver. We have no intention of
casting any aspersion on either the Davis Boring
Tool company or the Wesley company, but the pro-
motion literature which is being sent out contains so
many statements which are not substantiated by facts
that we feel it our duty to point out to our readers
a few of these discrepancies, just as we did in the
case of the boring tool company literature last June.
The Wesley company literature makes the state-
ment that: "Even during the year of severe business
depression, from May 31, 1921, to May 31, 1922, 100
per cent net profits were earned." In the company's
sworn statement filed with the secretary of state' of
Illinois the net profit for that period is given as
$2,489 and the capital stock outstanding as $20,000.
This is less than \2 l / 2 per cent on their capitalization
—not 100 per cent. And now this capitalization- has
been raised to $95,000 by the authorization of $75,000
preferred stock.
The literature further states that "profits of $78,000
were realized in a single year." What the year was
is not mentioned. If such profits were earned it was
while the company was engaged in a different line of
business from that in which it at present is engaged.
It has been engaged in the manufacture of talking
machines, etc., for the last four years, prior to which
time it was engaged in a general advertising business.
The sworn statement gives the profits during those
four years ending May 31 as follows: 1919, $19,301;
19Z0, $25,992; 1921, $5,934, and 1922, $2,489. This is
a total for four years of $53,716 and an average of
$13,429 per annum.
The company is described as "an old established
Chicago corporation of large earning power and a
continuous dividend record for fifteen years." Divi-
dends may have been paid during the eleven years
in which the company was in the advertising busi-
ness. Of those years we have no record. The re-
port to the secretary of state covers only the last
EVERY MAN. WHETHER
Directly or Indirectly Interested in
Pianos, Phonographs or the General
Music Trade
Should have the three booklets compris-
ing
PRESTO TRADE LISTS
THE SMALLEST
KEYLESS
Manufactured by
The Operators Piano Co.
16 to 22 South Peoria St.
CHICAGO
No. "1—Directory of the Music Trades—
the Dealers List.
No. 2—The Phonograph Directory—the
Talking Machine List.
No. 3—Directory of the Music Industries
(Manufacturers, Supplies, etc., of
all kinds).
Price, each book, 25 cents-
The three books combined contain the
only complete addresses and classified
lists of all the various depart-
ments of the music indus-
tries and trades.
Choice of these books and also a copy of
the indispensable "Presto Buyer's Guide,"
will be sent free of charge to new sub-
scribers to Presto, the American Music
Trade Weekly, at $2 a year.
You want Presto; you want the Presto
Trade Lists. They cost little and return
much, Why not have them?
Published fcy
Presto Publishing Co.
407 So. Dearborn St,
CHICAGO, ILL.
four years, but it mentions no dividends having been
paid during that time, although the regulation form
of detailed income account is given.
The usual "conservative" estimates of enormous
sales and fabulous earnings are indulged in, but as
these are the sanguine visioning of the promoter's
fertile brain and are susceptible neither of proof nor
refutation, we shall not comment upon them. Our
duty is to point out statements that are at variance
with known facts and to give those facts.
JOY FOR PIANO TRAVELER
Interstate Commerce Commission May Soon Follow
Precedent Established in Freight Case.
Railroad passenger fares are scheduled to come
down, say persons informed on such matters. A cut,
as great, perhaps, as the 10 per cent horizontal re-
duction ordered in freight rates last May, may be ex-
pected, it is declared. As there has been no official
move as yet, the date of the reduction is conjectural.
"Informal requests for lower rates have been made
to the Interstate Commerce Commission by the Na-
tional Piano Travelers' Association and other national
and sectional organizations of traveling men. Mem-
bers of the commission are reported to be in mood to
inquire thoroughly into reasons why passenger rates
should remain at their wartime levels when almost
everything else entering into the business Hie ol the
country has declined.
Should the commission follow its own precedent,
established in the freight rates case, it will assume
that lowering rates will increase travel and thus re-
sult eventually in larger gross income. Many of the
roads are in favor of a cut, believing this will be
the case.
ANNOUNCEMENT.
The Ralph B. Waite Piano Co. announces the
opening of a Chicago wholesale office and display
room at 336-338 West 63rd street, Chicago, in the
beautiful salesrooms of Geo. B. Dow, where a full
line of grand and upright pianos, players and repro-
ducing pianos will be on display at all times, for the
benefit of dealers. The line will include the Waite,
P. C. Weaver, Seybold and other instruments in
various grades. You are invited to call at any time.
Take the Englewood express elevated at the loop.
Get off at 63rd and Harvard, walk one block west.
ENGINEERS AT BALDWIN PLANT.
Last week the members of the American Society of
Mechanical Engineers and the Society of Industrial
Engineers, which held a joint convention at the Liter-
ary Club, 25 East Eighth street, Cincinnati, made an
inspection trip through the plant of the Baldwin
Piano Company. In the evening they heard ad-
dresses by Harrington Emerson on "Some Aspects
of the Economics of Industry" and by Dr. Arthur
Garland, of the National Cash Register Company.
Whatever
Your
Question
Be it the pronunciation of Bolsheviki or
soviet, the spelling of a puzzling word—
the meaning of blighty, fourth arm, etc.,
this Supreme Authority—
WEBSTER'S
NEW
INTERNATIONAL
DICTIONARY
contains an accurate, final answer. 400,000
Words, 2700 Pages. 6000 Illustrations. Regu-
lar and India-Paper Editions.
G. & C. MERRIAM CO.
Springfield, Mass.
Write for specimen pages, prices, etc., and
FREE Pocket Maps if you name this publi-
cation.
Enhanced content © 2008-2009 and presented by MBSI - The Musical Box Society International (www.mbsi.org) and the International Arcade Museum (www.arcade-museum.com).
All Rights Reserved. Digitized from the archives of the MBSI with support from NAMM - The International Music Products Association (www.namm.org).
Additional enhancement, optimization, and distribution by the International Arcade Museum. An extensive collection of Presto can be found online at http://www.arcade-museum.com/library/
PRESTO
November 4, 1922.
COINOLAS
FOR
THEATRES, CHURCHES
and LODGE HALLS
Style 50
FROM THE BIGGEST
ORCHESTRION
INVESTORS IN RADIO
Great Newspaper Gives Some Facts Which
May Serve as a Precaution to Enthusiasts
in the Latest Glittering Bauble.
A campaign is being launched for the sale of stock
of the Wesley company, manufacturers of radio-
phones and phonographs, says the Chicago Tribune
"Investment Guide." The sale of this stock, although
ostensibly handled by the company direct, is being
conducted by the same concern that handled the
Davis Boring Tool company stock and is under the
direction of C. S. Rieman, who also promoted the
Elgin Motor Car company, which recently went into
the hands of a receiver. We have no intention of
casting any aspersion on either the Davis Boring
Tool company or the Wesley company, but the pro-
motion literature which is being sent out contains so
many statements which are not substantiated by facts
that we feel it our duty to point out to our readers
a few of these discrepancies, just as we did in the
case of the boring tool company literature last June.
The Wesley company literature makes the state-
ment that: "Even during the year of severe business
depression, from May 31, 1921, to May 31, 1922, 100
per cent net profits were earned." In the company's
sworn statement filed with the secretary of state' of
Illinois the net profit for that period is given as
$2,489 and the capital stock outstanding as $20,000.
This is less than \2 l / 2 per cent on their capitalization
—not 100 per cent. And now this capitalization- has
been raised to $95,000 by the authorization of $75,000
preferred stock.
The literature further states that "profits of $78,000
were realized in a single year." What the year was
is not mentioned. If such profits were earned it was
while the company was engaged in a different line of
business from that in which it at present is engaged.
It has been engaged in the manufacture of talking
machines, etc., for the last four years, prior to which
time it was engaged in a general advertising business.
The sworn statement gives the profits during those
four years ending May 31 as follows: 1919, $19,301;
19Z0, $25,992; 1921, $5,934, and 1922, $2,489. This is
a total for four years of $53,716 and an average of
$13,429 per annum.
The company is described as "an old established
Chicago corporation of large earning power and a
continuous dividend record for fifteen years." Divi-
dends may have been paid during the eleven years
in which the company was in the advertising busi-
ness. Of those years we have no record. The re-
port to the secretary of state covers only the last
EVERY MAN. WHETHER
Directly or Indirectly Interested in
Pianos, Phonographs or the General
Music Trade
Should have the three booklets compris-
ing
PRESTO TRADE LISTS
THE SMALLEST
KEYLESS
Manufactured by
The Operators Piano Co.
16 to 22 South Peoria St.
CHICAGO
No. "1—Directory of the Music Trades—
the Dealers List.
No. 2—The Phonograph Directory—the
Talking Machine List.
No. 3—Directory of the Music Industries
(Manufacturers, Supplies, etc., of
all kinds).
Price, each book, 25 cents-
The three books combined contain the
only complete addresses and classified
lists of all the various depart-
ments of the music indus-
tries and trades.
Choice of these books and also a copy of
the indispensable "Presto Buyer's Guide,"
will be sent free of charge to new sub-
scribers to Presto, the American Music
Trade Weekly, at $2 a year.
You want Presto; you want the Presto
Trade Lists. They cost little and return
much, Why not have them?
Published fcy
Presto Publishing Co.
407 So. Dearborn St,
CHICAGO, ILL.
four years, but it mentions no dividends having been
paid during that time, although the regulation form
of detailed income account is given.
The usual "conservative" estimates of enormous
sales and fabulous earnings are indulged in, but as
these are the sanguine visioning of the promoter's
fertile brain and are susceptible neither of proof nor
refutation, we shall not comment upon them. Our
duty is to point out statements that are at variance
with known facts and to give those facts.
JOY FOR PIANO TRAVELER
Interstate Commerce Commission May Soon Follow
Precedent Established in Freight Case.
Railroad passenger fares are scheduled to come
down, say persons informed on such matters. A cut,
as great, perhaps, as the 10 per cent horizontal re-
duction ordered in freight rates last May, may be ex-
pected, it is declared. As there has been no official
move as yet, the date of the reduction is conjectural.
"Informal requests for lower rates have been made
to the Interstate Commerce Commission by the Na-
tional Piano Travelers' Association and other national
and sectional organizations of traveling men. Mem-
bers of the commission are reported to be in mood to
inquire thoroughly into reasons why passenger rates
should remain at their wartime levels when almost
everything else entering into the business Hie ol the
country has declined.
Should the commission follow its own precedent,
established in the freight rates case, it will assume
that lowering rates will increase travel and thus re-
sult eventually in larger gross income. Many of the
roads are in favor of a cut, believing this will be
the case.
ANNOUNCEMENT.
The Ralph B. Waite Piano Co. announces the
opening of a Chicago wholesale office and display
room at 336-338 West 63rd street, Chicago, in the
beautiful salesrooms of Geo. B. Dow, where a full
line of grand and upright pianos, players and repro-
ducing pianos will be on display at all times, for the
benefit of dealers. The line will include the Waite,
P. C. Weaver, Seybold and other instruments in
various grades. You are invited to call at any time.
Take the Englewood express elevated at the loop.
Get off at 63rd and Harvard, walk one block west.
ENGINEERS AT BALDWIN PLANT.
Last week the members of the American Society of
Mechanical Engineers and the Society of Industrial
Engineers, which held a joint convention at the Liter-
ary Club, 25 East Eighth street, Cincinnati, made an
inspection trip through the plant of the Baldwin
Piano Company. In the evening they heard ad-
dresses by Harrington Emerson on "Some Aspects
of the Economics of Industry" and by Dr. Arthur
Garland, of the National Cash Register Company.
Whatever
Your
Question
Be it the pronunciation of Bolsheviki or
soviet, the spelling of a puzzling word—
the meaning of blighty, fourth arm, etc.,
this Supreme Authority—
WEBSTER'S
NEW
INTERNATIONAL
DICTIONARY
contains an accurate, final answer. 400,000
Words, 2700 Pages. 6000 Illustrations. Regu-
lar and India-Paper Editions.
G. & C. MERRIAM CO.
Springfield, Mass.
Write for specimen pages, prices, etc., and
FREE Pocket Maps if you name this publi-
cation.
Enhanced content © 2008-2009 and presented by MBSI - The Musical Box Society International (www.mbsi.org) and the International Arcade Museum (www.arcade-museum.com).
All Rights Reserved. Digitized from the archives of the MBSI with support from NAMM - The International Music Products Association (www.namm.org).
Additional enhancement, optimization, and distribution by the International Arcade Museum. An extensive collection of Presto can be found online at http://www.arcade-museum.com/library/
Future scanning projects are planned by the International Arcade Museum Library (IAML).