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7/22/34
On page 11, at the end of Article XI, add the follow¬ ing sentence: "The immunity from the operation of the anti¬
trust laws, granted by Section 5 of the National Industrial Recovery Act, shall not be applicable to any practices of the Music Publishers Protective Association or the American Society of Composers, Authors and Publishers now under investigation by any governmental agency, "
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RADIO SALES PUT AT 4,550,000 SETS
Interest in radios now has reached the highest pitch in several years, and some retailers describe current demand as measuring up to that when satisfactory sets were first so widely distributed back in 1924, according to Dunn & Bradstreet, Inc.
11 Instead of the usual summer lull, the trend of sales continues steadily upward, although at a slower rate than during the first six months of the year. 11
"For wholesale and retail volume during that period rose 50 to 75 per cent above the level reached during the com¬ parative months of 1933, and with some of the large distributors the increase ran as high as 100 to 150 per cent for several of the Nationally known sets."
"This substantial gain is not attributable to the stim¬ ulus of low prices, as these have held steady, but almost entirely to the widening popularity of the radio, aided by the constant improvement in the entertainment provided by broadcasting com¬ panies, the achievement of manufacturers in bringing the short¬ wave sets within the reach of the average buyer, and the possibil¬ ity of enjoying satisfactory programs throughout the entire 24 hours of the day, "
"Based on the advanced inquiries for new merchandise, volume during the second six months of the current year will run ahead of the comparative figures for 1933 by 25 to 40 per ce^t, despite the smaller returns from the droughtstricken areas, as retailers in all parts of the county are expectimg demand to swing abruptly upward as soon as the new models will have been displayed. "
"This will bring sales for 1934 to a conservatively estimated total of 4,500,000 sets as compared with the record of the peak year of 1929, when 4,438,000 sets were sold, with a retail value of $592,068,000 less tubes. Sales or automobile radio sets alone are expected to run to 750,000 units,"
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