Presto

12
May 9. 1925.
PRESTO
MUSIC TRADE NOTES
FROM CLEVELAND, 0 .
Committee of Music Merchants' Association
of Ohio to Organize Special Golf Asso-
ciation for Convention—Other Events.
The Music Merchants' Association of Ohio has
named a committee for the formation of the golf
association in connection with the Cincinnati conven-
tion to be held in September as follows: Henry
Dreher, chairman; Wm. R. Graul, Cincinnati; Chas.
Yahrling, Youngstown, and F. Jos. Volz, Cincinnati.
The Buescher Music Co., Cleveland, is offering a
six-dollar crystal set free with a purchase of twenty-
five dollars. This purchase may be records or a
down payment toward any instrument.
The store of Mat F. Broz, 13920 Union avenue,
houses Cleveland's newest radio broadcasting station.
The formal opening occurred last week with Stanley
J. Broz, son of Mat Broz. as director and manager.
George T. Jones is announcer. The station is known
as WBDH and operates on 227 meters wfth 100 watts
power. The antenna and counterpoise are suspended
above the roof of the store building. Part of the
second floor of the store has been converted into a
studio, reception and operating room. The Broz
store is near the intersection of Kinsman road and
Union avenue, and has a large musical department.
It is one of the most popular stores in its section of
the city.
The Calendar Radio Co. has been incroporated for
$50,000 to do a general radio business. The incor-
porators are M. Staab, N. Gootschalt, S. Graham,
R. H. Davis, C. Vrooman.
The opening of the Metropolitan Opera Co.'s
KREITER
The Leading and Most Popular
Pianos and Players
Grands, Players, Uprights and
Reproducing Pianos
The Results of Over Forty Years*
of Experience.
Kreiter Pianos Cover the Entire Line
and no Piano Dealer who tries these in-
struments would supplant them by any
others. A trial will convince.
Kreiter Mfg. Co., Inc.
310-312 W. Water St., Milwaukee, Wis.
Factory: Marinette, Wis.
There's Money
for the Dealer in
Automatic Pianos
Fine Electric Self-Players of eye-
catching design and perfect perform-
ance. Also
spring festival brought crowds of music lovers to
Cleveland from all parts of the country. The Dreher
Piano Co., which has had the sale of tickets, has been
kept busy and the trade in general feels that busi-
ness will be stimulated by the large influx of music
loving visitors.
USING FINANCIAL
AIDS PROFITABLY
BOOKLET TELLS SCOPE
OF TUNERS' ASSOCIATION
Where Needs for Additional Capital Are Im-
perative in a Healthily Growing Business
There Are Certain Safe Ways of Ac-
quiring the Necessary Amounts.
Lester Singer, President of Chicago Division
of National Body, Clearly and Convincingly
Explains Purposes of Organization.
PROCESSES ARE SIMPLE
Lester Singer, president of the Chicago division of
the National Association of Piano Tuners, Inc., has
written a message to the tuners outside of the na-
tional body, telling what the association stands for.
"Every piano dealer and salesman should know
what the National Association of Piano Tuners
stands for. It is to their interest to understand the
relation that this organization bears to the trade,"
writes Mr. Singer. "The association after some fif-
teen years of struggle for recognition has no*w
reached the point where its work is understood and
appreciated by the largest interests in the piano trade.
It is fast becoming one of the strongest factors in the
industry."
The platform of the association given by Mr.
Singer is to establish and maintain the highest tech-
nical and moral standards in the profession of piano
tuning. To educate the public on the nature and care
of the piano. To eliminate free tuning, or the prom-
ise of free tuning. The adoption by the manufac-
turers and merchants of a uniform warranty defining
'"proper care and usage," and the abolition of the
practice of charging the tuning department with serv-
ices rendered the sales, advertising and renting de-
partments.
The folder points out that the association was or-
ganized to establish a standard of efficiency in the
art of piano tuning, tone and action regulating; to
acquire knowledge and experience in player work;
to e!evate the profession; improve conditions; create
more business; eliminate the faker, and to correct
the misconception or misunderstanding held by so
large a majority of the piano owning public concern-
ing the piano and the piano tuner's work.
The independent character of the association is
shown in Article II of the constitution which states:
"The association shall not take cognizance of diffi-
culties arising between employer and employe."
HOTEL ACCOMMODATIONS
DURING ANNUAL CONVENTION
Long List of Chicago Hotels Available for Visitors
Prepared by Hotel Committee.
All information about hotel accommodation in Chi-
cago during the convention may be procured from
Henry W. Hewitt, chairman of the Hotel Commit-
tee, who announces that it has compiled a list of
hotel and rate information. Complete information
regarding prices, location, accommodations, etc., has
been secured by the Hotel Committee from a list of
residential hotels adjacent or very convenient to the
Drake, as well as the popular hotels within the loop
district.
Those desiring to make reservations for any of
these hotels for the four days of Convention Week.
June 8 to 11, are urged to act now, either by writing
the hotel, addressing letter to the party mentioned as
in charge or to Henry W. Hewitt, chairman of the
Hotel Committee, care of M. Schulz Co.. 711 Mil-
waukee avenue, Chicago.
COIN OPERATED
for places of entertainment, Theatres,
Movies, Ice Cream Parlors, Etc., Etc.
The best line including the famous
"PIAN-O-GRAND"
"BANJ-O-GRAND"
and "HARP-O-GRAND"
Wide-awake Piano D e a l e r s find
them easy sellers in every community.
Send for illustrated
descriptive circulars.
Nelson-Wiggen Piano Co.
1731 Belmont Ave.,
CHICAGO
THE LATE FRANK HOLTZMAN.
E. V. Galloway, general western manager of the
Henry Holtzman & Sons, with headquarters in Chi-
cago, piano stool and bench business of Columbus,
was in the Ohio city last week to attend the funeral
of President Frank B. Holtzman, senior member of
the Holtzman industry. The deceased was the eldest
son of the late Henry Holtzman, founder of the busi-
ness. He was sixty-three years of age. There are
now two brothers remaining in the business.
ILLINOIS DEALERS' CONVENTION.
Plans for the most successful convention in its his-
tory are being made by the Illinois Music Merchants'
Association and the program for the June gathering
to be held in Rockford will be published soon. The
association is supporting the measure introduced in
the State Legislature to curb "bait" advertising and
other questionable publicity methods, according to
James P. Lacy, the Peoria music merchant, who is
president of the active state association.
But Selection of the Way Leading to Profitable
Results Is Problem of Shrewd Music
Dealer.
By K. N. FRELIGH.
Assistant Vice-President, Bankers' Commercial Se-
curity Co., Inc.
(Mr. Freligh's interesting and highly instructive
address was delivered before the convention of the
Texas Music Merchants' Association, May 8, at
Austin, Texas.)
Because of the constantly increasing demand of
the buying public for the deferred payment plan of
purchase, the music merchant, along with his
brothers in other retail lines, must, in order to handle
each year an ever increasing volume of business,
provide new capital for the financing of his install-
ment sales.
For every result there must be a cause. Let us
then inquire into the determining factors, the sign
posts that point the way; the causes that decide in the
merchant's mind the need for increased capital in his
business. These are:
First: Too little capital to properly swing his
present volume, resulting in financial worry;
the spending of too much time in arranging for
renewals with his local banks and with his manu-
lacturers, thus seriously impairing his efficiency
in selling and collecting.
Second: The possibility of buying new mer-
chandise for enough less for spot cash so as to
show a profit over financing expense.
Third: The chance to develop a much larger
volume of .good sound business, due possibly to
his own selling initiative or to the growth of his
city or town, coupled with inability to handle the
increased volume with present capital.
If any or all of these factors are present the answer
is self evident. The need of additional capital is
imperative and this can lie secured, by a healthily
growing business, in three ways.
First: If the business is incorporated, the
capital stock can be increased and sold to perma-
nent investors, we will quite naturally expect
dividends regularly as long as the stock remains
outstanding.
Second: If the business is not incorporated
additional partners can be taken in and they
will expect and receive their share of the profits
earned, as long as the business continues.
Third: Credit relations can be established
with a responsible finance company and a cer-
tain amount of the merchant's installment paper
can be financed at a discount.
Building Wrong.
1 have disregarded the possibility of largely in-
creasing the dealer's local bank borrowings for the
reason that any dealer who builds an increased vol-
ume of thirty month sales on the foundation of ninety
to one hundred and twenty day bank loans, is build-
ing up a liability that is not self-liquidating and which
is liable to tumble about his ears during the first
business depression.
If the first or second methods are used, the mer-
chant has engaged to share his profits with others
forever. He has created an obligation that will be a
constant drain upon his earnings and in the ultimate
analysis will discover that the price paid for this addi-
tional capital has been very high. It may also happen
that instead of being the final authority in directing
the policies of his company he will find he is subject
to the whims of his partners or stockholders.
The time will come when he reaches his "peak of
sales" and ceases to need this additional capital. Can
he then stop sharing his profits? No, he can not.
Even if he can induce his partners or stockholders
to sell their interests to him, it will doubtless be at a
premium. It is very expensive financing in the long
run.
On the other hand, the merchant elects to discount
a certain amount of his "frozen capital," by this I
mean his long time installment paper, and secures the
additional financing needed, on the basis of paying
for his goods on the same time that he is buying them
on—a self-liquidating basis. He can realize the bene-
fits of this capital during the period of his growth
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