The talking machine world (July-Dec 1918)

112 THE TALKING MACHINE WORLD December 15, 1918 2 GRESHAM BUILDING, BASINGHALL STREET E. C, LONDON, W. LIONEL STURDY, MANAGER. Reasons for Real Christmas Feeling in the Trade This Year, Owing to the Signing of the Armistice — The Collapse of the Great German Empire Means That Trade and Commerce Will Again Be Resumed — Plans for Reconstruction Now Under Way — Gramophone Co. Hold Annual Meeting— Sales Break All Records— News of the Month Worth Recording London, E. C, England, December 2. — The sacred significance of Xmastide will this year be emphasized hy the glorious result achieved in behalf of the ideals of civilization. There is a great and simple sincerity in the good old greeting— Peace on earth and good will to all men. Joy will reign supreme in the homes of the people, though in thousands tempered by the sorrowing thoughts of those left to mourn the loss of loved ones who have made the supreme sacrifice. Might now pays homage to Right; the world and men are advantaged thereby. This Xmastide will witness an almost universal celebration of the Allies' glorious achievement. It is in a special sense therefore that I extend to all readers the compliments of the season, in the knowledge that circumstance lends itself to a real enjoyable time free from the strain and effects of war. The collapse of the mighty German Empire and its allies— Austria, Bulgaria and Turkey — brings us to the consideration of those postwar commercial prospects about which reams of advice have been proffered by doughty newspaper and other scribes. Now we are really up against it, and the world is watching. The race for trade supremacy will shortly set in with a vengeance. The keynote of success is organization. Each country has to put its house in order on the basis of reconstruction. The British Government is alive to the situation and has put into operation machinery for bringing into effect the many plans for an early re-establishment of peacetime industries. A multitude of problems and difficulties present themselves, demanding the exercise of quick decisions by intelligent men of affairs and experienced statesmen. There is immediate need for a powerful progressive policy which will assure to British manufacturers a plentiful supply of labor and raw materials free of harassing restrictions. The question of tonnage, demobilization and the development of the resources of the Empire will receive priority of consideration. A reasonable control over demobilization of the services so as to prevent unemployment is to be exercised. Complete demobilization of the troops cannot take place under eighteen to twenty-four months. Discharge will be given according to a man's industrial value, and priority in this respect will go to key-industry men. The Government has dozens of committees at work dealing with these problems, and of various trade interests, and if it is not a case of too many cooks, etc., Great Britain should be in a favorable position to successfully grapple the great task of reconstructing the war-weakened fabric of industrial organization. The difficulties confronting the musical, instrument industry are many, but not all sections of the trade are identically affected. Being unsuitably equipped for war output, the gramophone record factories have largely escaped the Government's attention, and are therefore in a favorable position for nortnal activity once the labor question is overcome. Minor restrictions regarding paper, certain record material, etc., remain, but as time proceeds a gradual improvement will come about, and it is not anticipated that these factories will be very greatly handicapped in their efforts to resume a normal output. On the machine side it is different. Such factories are engaged on war work and will need time to finish up. This will be by arrangement with the Government, though in most contracts a termination clause exists agreeing a time limit upon the cessation of hostilities. The equipment of such factories will then need an entire rearrangement, probably the installation of balancing plant to secure an efficient mechanical layout for gramophone manufacture. We may rest assured that good plans exist for reconstruction in the foregoing respect and that no time will be lost in making the necessary Change. Most pianoforte factories are engaged, or partly so, on the manufacture of aeroplane parts. Here again, it will take a certain time to clear up, though in some cases it is rumored that manufacturers are in no hurry to resume pianoforte construction, owing to financial considerations. Evidently there is more money in aeroplane work than in piano output. All things considered, there is every reason to believe that the labor claims of the trade and the question of raw material supplies will be strenuously pressed in official quarters for early consideration. General Meeting of the Gramophone Co., Ltd. At the ordinary general meeting of the Gramophone Co., Ltd., the chairman said that the trading profit this year was £218,749, and, adding the amount of £72,505 brought forward, made a total of £291,255. After deducting the usual items set forth in the report, amounting to £127,450, there was left a balance of £163,804 to be dealt with. The directors recommended the payment of a 10 per cent, dividend, less income tax on the ordinary shares, and a bonus of 5 per cent., less income tax, the setting aside of £50,000 for the equalization of future dividends, and carrying forward the balance of about £38,000. He was in a position to state that during the year ended June 30 last the sales of gramophone goods in the United Kingdom had broken all records, and were larger than those of any previous year, either before or after the commencement of the war. To go a little further, he could inform them that the trade in the United Kingdom for last month (October) was also a record, being, the largest sales of any month in the history of the company, and having regard to the change over from Government work to gramophone work, he was sure that that would be welcomed by all shareholders as an indication of the company's power to carry on. Dealing with a few of the principal items he pointed out that creditors on open accounts figured at £383,500 less than last year, and the stock-intrade and work in progress also showed a decrease of £230,700. Both these decreases were almost entirely due to a change of policy in the Government departments with regard to the financing of their large contracts. The cash item, £297,374, was less than last year by £50,266, due to the writing off of cash in enemy countries and in Russia. Trade investments were less by £87,300. The last four items on the liability side of the balance sheet totaled £520,125, and deducting the amount of dividend and bonus recommended they were left with a total of £445,125 accumulated cash working capital in addition to the issued capital of £600,000, and the debenture indebtedness of £300,000. How far all that capital was working capital in the true sense of the word was, in his opinion, the test of the value of the present balance sheet in face of the reconstruction period before them. The real working capital in their case was made up of three items, stock-in-trade and work in progress, the difference between debtors and creditors and cash. Those three items together, after deducting dividend and bonus from the cash item, amounted to no less than £1,008,000. That was a very remarkable figure, and was a position which gave the directors confidence in the ability of the company to face the immediate future and the period of change-over with confidence, and enabled them to look forward to a glorious and profitable future. Under New Management The trade has been advised that W. H. Reynolds (1915), Ltd., has been placed under new management, and will continue business as heretofore at 22 City road, London, E. C. For the season's trade the firm are specializing on three types of hornless machines, each in its way being notable for careful workmanship and general all-round good value. In addition, a specialty is made of parts and accessories, of which a goodly variety is always in stock. The Great Armistice Week If we infringe the conventional rule of trade journals in making reference to other than strictly trade affairs, we make no apology; the great occasion being our best justification. Such a crowning victory as never before in the world's history! Four and a half years of patient faith, not always, we may now admit, without a measure of misgiving. The arms of civilization have achieved a glorious triumph over the dark forces of misapplied kultur, and it now remains a world duty to concentrate upon the reconstruction of the social and industrial fabric. The armistice week was throughout one of wildly joyful excitement in England, and especially in London, where the news produced a remarkable expression of relief. Business was a secondary consideration and little could be done in view of the general feeling, to which of course the people had to give vent anywhere but in the office. One can yet scarcely realize that it is for all practical purposes a thing of the past. New Winner Records The latest Winners embody a number of titles which have found great favor among the masses on this side, and for which there should be a big demand from overseas. The Band of H. M. Irish Guards contribute two popular airs— "Over There" and "The Middy," both typical examples of good swinging marches, which naturally are much in vogue. The Winner exclusive,. Ivor Foster, gives us a couple of attractive Irish items, and' the famous Revue artists, Lee White and Clay Smith (who quite recently married), are down for two American songs, "In Alabama, Dear, With You," and "So This is Dixie." "Oshkosh" (whatever that may mean) and "Uncle Sam's Got a Great Big Stick," by The Two Bobs, should find a ready sale across the pond. Ernie Mayne, Ermest Rutterford, Kirkby & Hudson, artistes of renown on this side, also contribute popular songs to this fine Winner program. Selections I and II of "As You Were," the popular Revue now being played at the London Pavilion, go to the making of a splendid record by the Royal Court Orchestra. Of ten artistes who contribute to the list, it is a remarkable fact that no less than seven record only for the Winner Co. The Death of Percy Dunlop Just prior to the mailing of this month's report the sad news has been received of the death of Percy Alexander Dunlop, from the after-effects of malaria fever, in hospital at Salonica on October 28. The deceased was well known in trade circles, where he was universally respected and esteemed HARDWARE Agent well in with best wholesalers in United Kingdom is prepared to take up American fancy and general lines at close of war. Mail particulars to G. Stewart, 1 1 1 Keith Road, Barking, Essex, England.