Presto
Issue: 1925 2032 - Page 4
July 4, 1925.
PRESTO
MANUFACTURER'S
PIANO MEMORIES
(Continued from page 3.)
to produce some of it—as all intelligent people, in
this day, must be able to do.
Ready in the Fall.
It is Presto's understanding that Mr. Tonk's book
will be sold by subscription at $3.50 a copy, though
it will also be on sale in the leading book stores. It
will be ready for distribution late in the fall. At least
so this paper understands. Lovers of music, and
especially all in the trade who know the author, are
advised to order in advance of publication. For the
edition will be limited.
Already a great many members of the trade have
added their names to the list of subscribers to Mr.
Tonk's Memoirs, some of them taking from six to
fifty copies. Manufacturers who have seen brief
extracts from the work believe that it will prove of
value in an instructive sense, especially the younger
men often being in need of just such data as Mr.
Tonk presents, to say nothing of the rules of proced-
ure in business organizations, and references to what
has been done to bring the music industry and trade
to its present place in the world of affairs.
SUMMER PLANS OF THE
PIANO CLUB OF CHICAGO
Mid-day Meetings from 12:15 to 1:50 and "Make
America Musical" the Slogan.
The next meeting of the Piano Club of Chicago is
Monday, July 6th, Illinois Athletic Club, 12:15. Dur-
ing the summer we will follow our usual custom of
no speaker or entertainment.
There has been much said about the recent con-
vention, both complimentary and otherwise, but we
believe that for many years after the convention itself
has been forgotten that the words "Make America
Musical" will mean to our industry as much or more
than the famous phrase "Say It With Flowers" to
the florists.
The regular meeting of the board will take place
following the club meeting.
PHONOGRAPH TRADE
BEING KILLED BY RADIO
The Victor Company Defers Its Common
Stock Dividend and Its Shares Have
Dropped from 116^ to 65 This Year.
The Board of Directors of the Victor Talking Ma-
chine Company, at their meeting held in Philadelphia
last week failed to take action on the quarterly divi-
dend of 2 per cent due on the common stock of the
company on July 15. While this announcement was
anticipated in the financial district, due to the effect
the development of the radio industry has had on the
operations of the company, the statement that the
dividend had been deferred was received with regret
in many quarters bcause of the high position the
shares of this company held in investment circles
only a few years ago.
Until the radio became popular in American homes
the Victor Company was one of the most prosperous
organizations in the country. Its dividend record
probably was better than that of any other corpora-
tion. In some years it paid as much as $80 a share
in cash to stockholders, including extra disburse-
ments, and even during the years when these large
payments were being made a surplus accumulated.
Part of this surplus was used for the payment of a
600 per cent stock dividend in 1922, and up to last
April dividends at the rate of 8 per cent annually
were paid on the increased capital stock. This rate
of 8 per cent was equal to 56 per cent paid on the old
capitalization outstanding prior to the stock dividend
disbursement.
The effect that radio has had upon the operations
of this company during the past year caused much
comment in Wall Street when the announcement of
the directors' action was received. One banker pointed
out that the radio industry, despite its rapid growth,
is now experiencing a period of readjustment, and
many of the thousands of stockholders who invested
money in radio companies which have been organ-
ized during the past four years are still awaiting divi-
dends. The effect of the growth of these companies
has curtailed drastically the profits of the Victor
Company.
The sharp decline in the common stock of the Vic-
tor Company has caused comment. From a high
price of \\6y 2 the shares dropped to 65. In 1923 the
stock was quoted at 150. This quotation was equiva-
lent to a price of $1,200 a share on the old stock prior
to the 600 per cent stock dividend distributed toward
the close of 1922. The current quotation of 69 is
equal to $552 a share on the old capitalization.
VETERAN CLAIMS THAT HE
IS OLDEST ACTIVE DEALER
Point Upon Which Mr. Bates Challenges Mr. Bates
as Oldest Member of Trade.
Middletown, N. Y., June 22, 1925.
Editor Presto: In re your notice of June 20th of
George F. Bates as being the "Real-For-Sure" oldest
music merchant, I compliment this "Another Bates"
and congratulate him that he has been ten years
longer on earth than myself, but my claim is that I
am the oldest active music merchant in point of being
56 years in business as a dealer.
I founded the Ludden & Bates Southern Music
House, at Savannah, Ga., in 1869, and have ever
since been in active business. No doubt there are
older men than myself who are now actively engaged
in business and possibly some who as salesmen have
had more years of service, but that does not in-
validate my claim as being the oldest active music
merchant yet discovered.
I will be glad to hear directly from Mr. George F.
Bates, and if he can outclass my 56 years in the
music business, for myself I will cheerfully abdicate
in his favor and take off my hat to him besides.
Yours very truly,
J. A. BATES.
CLUB HEARS RANSOM KENNICOTT.
Ransom Kennicott, chief forester of the Forest
Preserve District of Cook County, was the guest and
speaker at the weekly luncheon this week of The
Piano Ciub of Chicago, at the Illinois Athletic Club.
Mr. Kennicott knows every nook and cranny of the
wonderful forest preserve system, constantly being
increased in size and scope. He told where the best,
spots are, about the winter sports and summer fun
that may be enjoyed there, the zoo, golf, fishing, the
buffalo hunt at Palos Park, and other joys.
BACK TO OLD LIN.E.
The Knabe Ampico department of the Reed-French
Co., Portland, Ore., is again in charge of Allan
McLean, for the past year in charge of the piano and
phonograph departments of the Hyatt Music Co., in
the same city. Mr. McLean will specialize in fea-
turing the Ampico, and is entering this field with
great enthusiasm.
TRUCK COMPANY BUILDS.
Plans for the erection of a new building on North
Main street, Findlay, Ohio, as the home of the Self-
Lifting Piano Truck Company, are being carried out.
Frank D. Lea, manager of the industry says new
equipment and additional machinery will be installed
in the factory, and the steadily increasing demand for
Self-lifting piano trucks will have more prompt atten-
tion than ever before. The two-story frame building
which the company had occupied since 1903 was
wholly inadequate for the expanding business, ac-
cording to Mr. Lea. The company moved to Findlay
from Lima in 1903, having been organized two years
previously.
Becker Bros. WILLIAMS
PIANOS
Manufacturer*
of
HIGH GRADE PIANOS
and PLAYER PIANOS
Factory and Wareraoma
767-769 Tenth Avenue, New York
The policy of the Williams House i« and always
has been to depend upon excellence of product
instead of alluring price. Such a policy does not
attraot bargain hunters. It does, however, win the
hearty approval and support of a very desirable
and substantial patronage.
U / | | | | 4 M C Maker, of William. Pi.no.,
n ILLI^ITI3 E p w o r t h pi. n o . M d or««n.
ACTIVITY OF PIANO
FACTORY SOURS MILK
Creamery Near H. C. Bay Company's Plant
Complains That the Making of Many
Pianos Raises too Much Dust.
Good Lord! What next! Is the industry of music
—the "art divine"—to give way to the dairy? What
is the piano manufacturer to do if the cowsheds are
so close to the factory that the sawdust may be blown
over the fence into the creamery?
For it seems that Judge J. Frank Charles, of the
Grant circuit court, of Marion, Indiana, has taken
under advisement the case of the Hoosier Condensed
Milk company of Bluffton against the H. C. Bay
Company, in which the plaintiff alleges dust from the
busy piano factory blows over and into the condensed
milk manufactured by the plaintiff, and causes injury
to their product.
One expert for the defendant testified in the trial
of the case that the defendant bad installed the very
latest and most complete machinery, while another
testified for the plaintiff that the company had in-
creased its product without increasing the necessary
equipment to provide for the dust. The defense very
reasonably maintains that the canners of milk knew
the conditions when they located in the neighbor-
hood, that the piano factory was there then, and the
plaintiff counters that the conditions at the time in
question were satisfactory.
It requires a great deal of wood to make musical
instruments in the H. C. Hay factories. It was
shown the company had erected a dust collector to
take care of the waste, but the plaintiff insisted the
equipment was inadequate and that the dust gathered
in the milk. Prominent lawyers argued the case be-
fore Judge Charles, including Sturgis and Stinc for
the piano factory, and Vaughn and Decker, for the
milk concern.
FORT WAYNE DEALERS' PICNIC.
The Music Dealers' Association of Fort Wayne,
Iud., held a picnic at the farm home of J. B. Spatz,
eight miles from the city on Sunday last. It was
the first attempt of the organization. George Jacobs,
Jr., has announced that the picnic will be made an
annual affair. A. D. Dickmeyer was in charge of
the gathering and many novel stunts and games for
both ladies and gentlemen were planned. About one
hundred were in attendance and a good time was
insured in advance for a good day—the last in the
week.
FURNITURE COMPANY EXPANDS.
The Stewart-Jones Furniture Co., South Main
street, Memphis, Tenn., has sold its stock to the
Haverty Furniture Co., South Main and McCall
streets. For years the Stewart-Jones company main-
tained a large music department, which will be en-
larged by the Haverty Furniture Co. Allen Jones
goes with the Haverty Furniture Co.
Schumann
PIANOS and PLAYER PIANOS
GRANDS and UPRIGHTS
Have no superiors in appearance, tone
power or other essentials of strictly
leaders in the trade.
Warning to Infringers
Thi« Trad* Mark ia caat
in the plat* and alao ap-
pear* upon th* fall board
of all genuine Schumann
Planoa, and all lnfrlnger*
will be prosecuted. Beware
of Imitation! such aa Schu-
mann A Company, Schu-
mann * Son, and also
Shuman, aa all atendl
•hopa, dealera and uaera of
ptanoa bearing a name In
imitation of the name
Schumann with th* Inten-
tion of deceiving the public
will be prosecuted to the
full eat extent of the law.
New Catalogue on Beqneet.
Schumann Piano Co.
W. N. VAN MATRE, Proident
Rockford, IU.
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
MANUFACTURER'S
PIANO MEMORIES
(Continued from page 3.)
to produce some of it—as all intelligent people, in
this day, must be able to do.
Ready in the Fall.
It is Presto's understanding that Mr. Tonk's book
will be sold by subscription at $3.50 a copy, though
it will also be on sale in the leading book stores. It
will be ready for distribution late in the fall. At least
so this paper understands. Lovers of music, and
especially all in the trade who know the author, are
advised to order in advance of publication. For the
edition will be limited.
Already a great many members of the trade have
added their names to the list of subscribers to Mr.
Tonk's Memoirs, some of them taking from six to
fifty copies. Manufacturers who have seen brief
extracts from the work believe that it will prove of
value in an instructive sense, especially the younger
men often being in need of just such data as Mr.
Tonk presents, to say nothing of the rules of proced-
ure in business organizations, and references to what
has been done to bring the music industry and trade
to its present place in the world of affairs.
SUMMER PLANS OF THE
PIANO CLUB OF CHICAGO
Mid-day Meetings from 12:15 to 1:50 and "Make
America Musical" the Slogan.
The next meeting of the Piano Club of Chicago is
Monday, July 6th, Illinois Athletic Club, 12:15. Dur-
ing the summer we will follow our usual custom of
no speaker or entertainment.
There has been much said about the recent con-
vention, both complimentary and otherwise, but we
believe that for many years after the convention itself
has been forgotten that the words "Make America
Musical" will mean to our industry as much or more
than the famous phrase "Say It With Flowers" to
the florists.
The regular meeting of the board will take place
following the club meeting.
PHONOGRAPH TRADE
BEING KILLED BY RADIO
The Victor Company Defers Its Common
Stock Dividend and Its Shares Have
Dropped from 116^ to 65 This Year.
The Board of Directors of the Victor Talking Ma-
chine Company, at their meeting held in Philadelphia
last week failed to take action on the quarterly divi-
dend of 2 per cent due on the common stock of the
company on July 15. While this announcement was
anticipated in the financial district, due to the effect
the development of the radio industry has had on the
operations of the company, the statement that the
dividend had been deferred was received with regret
in many quarters bcause of the high position the
shares of this company held in investment circles
only a few years ago.
Until the radio became popular in American homes
the Victor Company was one of the most prosperous
organizations in the country. Its dividend record
probably was better than that of any other corpora-
tion. In some years it paid as much as $80 a share
in cash to stockholders, including extra disburse-
ments, and even during the years when these large
payments were being made a surplus accumulated.
Part of this surplus was used for the payment of a
600 per cent stock dividend in 1922, and up to last
April dividends at the rate of 8 per cent annually
were paid on the increased capital stock. This rate
of 8 per cent was equal to 56 per cent paid on the old
capitalization outstanding prior to the stock dividend
disbursement.
The effect that radio has had upon the operations
of this company during the past year caused much
comment in Wall Street when the announcement of
the directors' action was received. One banker pointed
out that the radio industry, despite its rapid growth,
is now experiencing a period of readjustment, and
many of the thousands of stockholders who invested
money in radio companies which have been organ-
ized during the past four years are still awaiting divi-
dends. The effect of the growth of these companies
has curtailed drastically the profits of the Victor
Company.
The sharp decline in the common stock of the Vic-
tor Company has caused comment. From a high
price of \\6y 2 the shares dropped to 65. In 1923 the
stock was quoted at 150. This quotation was equiva-
lent to a price of $1,200 a share on the old stock prior
to the 600 per cent stock dividend distributed toward
the close of 1922. The current quotation of 69 is
equal to $552 a share on the old capitalization.
VETERAN CLAIMS THAT HE
IS OLDEST ACTIVE DEALER
Point Upon Which Mr. Bates Challenges Mr. Bates
as Oldest Member of Trade.
Middletown, N. Y., June 22, 1925.
Editor Presto: In re your notice of June 20th of
George F. Bates as being the "Real-For-Sure" oldest
music merchant, I compliment this "Another Bates"
and congratulate him that he has been ten years
longer on earth than myself, but my claim is that I
am the oldest active music merchant in point of being
56 years in business as a dealer.
I founded the Ludden & Bates Southern Music
House, at Savannah, Ga., in 1869, and have ever
since been in active business. No doubt there are
older men than myself who are now actively engaged
in business and possibly some who as salesmen have
had more years of service, but that does not in-
validate my claim as being the oldest active music
merchant yet discovered.
I will be glad to hear directly from Mr. George F.
Bates, and if he can outclass my 56 years in the
music business, for myself I will cheerfully abdicate
in his favor and take off my hat to him besides.
Yours very truly,
J. A. BATES.
CLUB HEARS RANSOM KENNICOTT.
Ransom Kennicott, chief forester of the Forest
Preserve District of Cook County, was the guest and
speaker at the weekly luncheon this week of The
Piano Ciub of Chicago, at the Illinois Athletic Club.
Mr. Kennicott knows every nook and cranny of the
wonderful forest preserve system, constantly being
increased in size and scope. He told where the best,
spots are, about the winter sports and summer fun
that may be enjoyed there, the zoo, golf, fishing, the
buffalo hunt at Palos Park, and other joys.
BACK TO OLD LIN.E.
The Knabe Ampico department of the Reed-French
Co., Portland, Ore., is again in charge of Allan
McLean, for the past year in charge of the piano and
phonograph departments of the Hyatt Music Co., in
the same city. Mr. McLean will specialize in fea-
turing the Ampico, and is entering this field with
great enthusiasm.
TRUCK COMPANY BUILDS.
Plans for the erection of a new building on North
Main street, Findlay, Ohio, as the home of the Self-
Lifting Piano Truck Company, are being carried out.
Frank D. Lea, manager of the industry says new
equipment and additional machinery will be installed
in the factory, and the steadily increasing demand for
Self-lifting piano trucks will have more prompt atten-
tion than ever before. The two-story frame building
which the company had occupied since 1903 was
wholly inadequate for the expanding business, ac-
cording to Mr. Lea. The company moved to Findlay
from Lima in 1903, having been organized two years
previously.
Becker Bros. WILLIAMS
PIANOS
Manufacturer*
of
HIGH GRADE PIANOS
and PLAYER PIANOS
Factory and Wareraoma
767-769 Tenth Avenue, New York
The policy of the Williams House i« and always
has been to depend upon excellence of product
instead of alluring price. Such a policy does not
attraot bargain hunters. It does, however, win the
hearty approval and support of a very desirable
and substantial patronage.
U / | | | | 4 M C Maker, of William. Pi.no.,
n ILLI^ITI3 E p w o r t h pi. n o . M d or««n.
ACTIVITY OF PIANO
FACTORY SOURS MILK
Creamery Near H. C. Bay Company's Plant
Complains That the Making of Many
Pianos Raises too Much Dust.
Good Lord! What next! Is the industry of music
—the "art divine"—to give way to the dairy? What
is the piano manufacturer to do if the cowsheds are
so close to the factory that the sawdust may be blown
over the fence into the creamery?
For it seems that Judge J. Frank Charles, of the
Grant circuit court, of Marion, Indiana, has taken
under advisement the case of the Hoosier Condensed
Milk company of Bluffton against the H. C. Bay
Company, in which the plaintiff alleges dust from the
busy piano factory blows over and into the condensed
milk manufactured by the plaintiff, and causes injury
to their product.
One expert for the defendant testified in the trial
of the case that the defendant bad installed the very
latest and most complete machinery, while another
testified for the plaintiff that the company had in-
creased its product without increasing the necessary
equipment to provide for the dust. The defense very
reasonably maintains that the canners of milk knew
the conditions when they located in the neighbor-
hood, that the piano factory was there then, and the
plaintiff counters that the conditions at the time in
question were satisfactory.
It requires a great deal of wood to make musical
instruments in the H. C. Hay factories. It was
shown the company had erected a dust collector to
take care of the waste, but the plaintiff insisted the
equipment was inadequate and that the dust gathered
in the milk. Prominent lawyers argued the case be-
fore Judge Charles, including Sturgis and Stinc for
the piano factory, and Vaughn and Decker, for the
milk concern.
FORT WAYNE DEALERS' PICNIC.
The Music Dealers' Association of Fort Wayne,
Iud., held a picnic at the farm home of J. B. Spatz,
eight miles from the city on Sunday last. It was
the first attempt of the organization. George Jacobs,
Jr., has announced that the picnic will be made an
annual affair. A. D. Dickmeyer was in charge of
the gathering and many novel stunts and games for
both ladies and gentlemen were planned. About one
hundred were in attendance and a good time was
insured in advance for a good day—the last in the
week.
FURNITURE COMPANY EXPANDS.
The Stewart-Jones Furniture Co., South Main
street, Memphis, Tenn., has sold its stock to the
Haverty Furniture Co., South Main and McCall
streets. For years the Stewart-Jones company main-
tained a large music department, which will be en-
larged by the Haverty Furniture Co. Allen Jones
goes with the Haverty Furniture Co.
Schumann
PIANOS and PLAYER PIANOS
GRANDS and UPRIGHTS
Have no superiors in appearance, tone
power or other essentials of strictly
leaders in the trade.
Warning to Infringers
Thi« Trad* Mark ia caat
in the plat* and alao ap-
pear* upon th* fall board
of all genuine Schumann
Planoa, and all lnfrlnger*
will be prosecuted. Beware
of Imitation! such aa Schu-
mann A Company, Schu-
mann * Son, and also
Shuman, aa all atendl
•hopa, dealera and uaera of
ptanoa bearing a name In
imitation of the name
Schumann with th* Inten-
tion of deceiving the public
will be prosecuted to the
full eat extent of the law.
New Catalogue on Beqneet.
Schumann Piano Co.
W. N. VAN MATRE, Proident
Rockford, IU.
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).