Presto

MUSICAL
TIMES
PRESTO
Established
1881
Established
1884
THE AMERICAN MUSIC TRADE WEEKLY
10 Cents a Copy
CHICAGO, SATURDAY, FEBRUARY 9, 1929.
HOW NATIONAL
ASSOCIATION HELPS
Prominent Dealers Write Encouraging Let-
ters to Executive Secretary at National As-
sociation of Music Merchants Telling Their
Admiration of Great Work Performed.
Members and non-members of the National As-
sociation of Music Merchants in letters express appre-
ciation of the manner in which the work of the
Executive Office has been carried on and also ex-
pressing confidence in the plans of the executive
department for developing important promotional
work. Many times the officials have been requested
by trade paper men to make public through their
publications all of the membership-inspiring letters
that have been received. The officials derived par-
ticular pleasure and encouragement from letters from
Henry B. Mayer. Paris, Tex., dealer; Charles A. Reid
of the C. A. Reid Piano Co., Steinway representative,
Plainfield, N. J., the first a member and the latter a
non-member of the association. So they want the
entire membership to know what such distinguished
gentlemen of the trade as Mr, Mayer and Mr. Reid
think of the association work. The letters follow:
Mr. Mayer's Letter.
"It is with a lot of pleasure and gratitude that I am
enclosing check for $10 in payment of dues for 1929.
"The good work that this organization is doing
cannot help but prove beneficial to every dealer in
our country. There is no dealer, no matter how
small, but what should consider it a privilege to con-
tribute not alone $10 but his moral support.
"I have been a member of the organization since its
birth and hold myself ready at any time to do what-
ever I can in behalf of the organization. With kind-
est personal regards to Mr. Loomis and our good
president, believe me to be, Sincerely yours,
"HENRY P.'MAYER,
"January 19, 1929."
From C. A. Reid.
"We have your letter of January 10 outlining the
expenses of the National Association of Music Mer-
chants for the past year, and we are very pleased to
receive the same.
"The writer of this letter has been in the piano
business for the last twenty years, and he wishes to
state that he believes the National Association is
doing the most constructive work that has been
attempted in his recollection.
"The educational value of music is the soundest
selling argument that can be used for the sale of
musical instruments. We are already beginning to
feel the results of your promotional work with the
public schools. Piano instructions are now being
given to over three hundred pupils in the public
schools in Plainsfield. This was brought about
through your efforts in promoting the work at the
convention of Public School Superintendents. Our
superintendent came back from the Houston, Texas,
convention tremendously enthused, and the result
was the formation of classes in the local public
schools. We have cooperated with them in every
way, and many sales have resulted.
"We take great pleasure in enclosing herewith our
check for $3.25, to cover your statement covering
stamps, and we again wish to compliment you on the
splendid work you are doing. Yours very truly,
"C. A. R E I D PIANO COMPANY."
"CHARLES R. REID,"
"January 12, 1929."
Powerful in Suggestion
The letters may serve as suggestions to a few
members (there are still only a few) who have not
yet given complete cooperation on the Merchants
Promotion Stamps that they can well afford to do so
for the very simple reason that they will be doing
something to help themselves sell more merchandise.
Delbert L. Loomis, executive secretary, said this
week:
"May we make a suggestion and that is, everv
member of our Association who has not yet paid his
annual dues for 1929, should do so and in addition to
that, each member should give serious thought to
the very unusual and interesting 'resolution' issued by
President Roberts recently which indicated that each
member had agreed to bring in at least one new
member in his locality within the immediate future.
"President Roberts and all of the officers of the
association urgently agree that the coming conven-
tion in Chicago, the week of June 3, at the Hotel
Drake, will be more productive of merchandising in-
formation and of real dealer helps than any which
have gone before. Members should make their res-
ervations either through the executive office or with
Drake Hotel direct as early as possible."
Special Rates.
"Special reduced rates have been obtained from $4
per day up single, and $8 per day up double. Those
who desire to obtain the minimum or near minimum
rates should make immediate reservations. In addi-
tion to a joint session where all interests will be rep-
resented including members of the radio organiza-
tions, there will be highly important business sessions
of the Merchants' Association. The Annual Radio
Trade Show, making first showings of new radio
models for 1929, will be held concurrently at the
Hotel Stevens."
APPOINTS RECEIVER FOR
CHASE=HACKLEY PIANO CO.
On Petition of Directors to Dissolve the Com-
pany, Judge Vanderwerp Names Bankers
Trust Company as Receiver.
The Chase-Hackley Piano Company, Muskegon,
Mich., has gone into receivership and will be dis-
solved. The failure of Walter Ioor of the Automatic
Musical Instrument Company of Grand Rapids, to
exercise his option to purchase the plant resulted last
week in the decision of the directors to dessolve the
company in the best interests of the creditors and
stockholders. Consequently a petition for dissolution
and for the appointment of the Bankers' Trust Com-
pany of Muskegon as receivers was filed in the Mus-
kegon Circuit Court.
Materials now on hand in the factory may be built
into cabinets and sold for cash, according to the court
order. An additional $2,000 may be borrowed to
complete the fabrication of the materials on hand.
In the petition for dissolution and receivership the
company lists its assets at $278,982 56 and its liabili-
ties at $144,158.91.
The assets as set forth in the petition include the
following items: Cash on hand and in banks, $192.56;
collateral bonds, $6,500; accounts receivable. $66,-
366.39; inventories, $52,7(i|8.96; fixed assets, $146.-
027.10; investments, $6,754; and prepaid assets,
$453.55. '
The factory building and the real estate upon
which it is located, are valued at $64,200 and $47,800,
respectively, for a total of $100,000. This was the
price at which Mr. Ioor of the Automatic Musical
Instrument Company had an option to purchase the
entire property.
The directors believe that the condition of the in-
ventory, the enhanced value of the property owing
to the possibility of heating by natural gas. and the
increased value of the riparian rights of the company
on Muskegon Lake due to the proximity to the new
Grand Truck carferry dock, will enable them to
realize more than the amount due to the creditors.
The Chase-Hackley Piano Company came into ex-
istence May 20, 1899, as the successor to the Chase
Brothers Piano Company, under which name the
company had been moved to Muskegon in 1890. The
original capitalization of the company was $220,000,
of which $145,820 was represented by common stock
and $74,180 was in preferred stock.
The company now has outstanding 71,00 shares of
various classes of stock for a total of $133,343.55 as
follows: Preferred Class A, 3,800 shares at $58,000;
preferred Class B, 7.200 shares at $72,000; preferred
Class C, 10,000 shares at $100,000; and Class NP
common, 50,000 shares for $76,656.45.
the rear of the factory to the water's edge and -ohr9
The company owns about 400 feet of lake frontage
on Muskegon Lake, which extends about 1,000 feet
from the rear of the factory to the water's edge and
includes an old dock. An offer of $25,000 for this
frontage made last year was rejected by officers of
the company.
$2 The Yeai
CHAMBER APPROVES
CONVENTION PLANS
Directors Meeting in New York Accept Pro-
gram of Executive Committee for Events
in Chicago Week of June 3.
The Board of Directors of the Music Industries
Chamber of Commerce met in the offices of the
Chamber, New York City, on Tuesday afternoon,
January 29. President Irion presided, and there was
an unusually large attendance.
The secretary and general manager was instructed
to appear before the Ways and Means Committee
during the tariff hearings and to argue for such
changes in tariff rates as the various associations
comprising the Chamber might desire, except that
no stand should be taken in the case of any rate upon
which there is a disagreement between two member
associations.
The Board approved the convention plans recom-
mended by the executive committee. There will be
the usual Chamber luncheon to open the convention
on Monday, June 3. The only change from the last
year or two will be a conference of all the branches
of the music industry, together with delegates of the
various radio associations, on Tuesday morning of
convention week in the Grand Ball Room of the
Hotel Drake, Chicago. President Irion of the Cham-
ber will preside. The conference will be devoted to
a discussion of problems in connection with promot-
ing the sale of musical instruments and radio. A
detailed program will be announced later.
The following directors were in attendance at the
meeting: C. D. Bond, Mark P. Campbell, M. V-
DeForeest, H. C. Dickinson, E. Paul Hamilton, Wil-
liam J. Haussler, Roy S. Hibshman, Hermann Iriou,
Richard W. Lawrence, H. C. Lomb, W. A. Mennie,
C. J. Roberts, Max J. deRochemont, Herbert Simp-
son, Arthur L. Wessell and Charles H. Yahrling.
The Chicago Meeting
At a meeting held in the Drake Hotel, Chicago,
this week the local committee appointed to direct
activities for the success of the convention in Chi-
cago, agreed on a general scheme of action. The
appointment of the various committees will be an-
nounced this week.
PIANO MANUFACTURERS MEET
The Executive Committee of the National Piano
Manufacturers' Association met in the offices of the
Music Industries Chamber of Commerce, New York
City, January 29.
The chief subject of discussion was tariff revision
affecting pianos. After a thorough discussion of the
question from all standpoints, it was decided that the
present tariff of 40% is adequate and it was voted
to request the Music Industries Chamber of Com-
merce to appear before the Ways and Means Com-
mittee at the tariff hearings in Washington to argue
for maintenance of the present rate, but not to ask
for an increase.
SCHILLER MOVES CHICAGO OFFICE
The Schiller Piano Co., Oregon, 111., moved its
Chicago office from the ninth floor, Republic Bldg.,
to the sixth floor early this week. The new lo-
cation is shared with the Wyman Piano Co., dealers
in high grade pianos and musical merchandise. The
Wyman Piano Company will in the future center its
piano activities on the Schiller, exploiting the line as
its leader and giving it prominent display. The office
is to be remodeled and an elaborate show room will
be added. Schiller dealers are invited to make the
new office of the Schiller Piano Company their head-
quarters wh : le in Chicago.
LEE S. JONES MANAGER.
Lee S. Jones lias been appointed sales manager of
the J. P. Seebury Piano Company, Chicago, to suc-
ceed Charles Stanley, who resigned recently. Mr.
Jones has an intimate knowledge of the automatic
instrument industry in all its phases.
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