The talking machine world (Jan-June 1928)

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76 The Talking Machine World, New York, February, 1928 Victor Business Shows Announces a New Automatic *You Can't Go Wr<W With Any TEIST' Songf'* Gratifying Expansion Phonograph for Use in Home Earnings of Victor Talking Machine Co. for 1927 Most Satisfactory, Thanks to Appreciation of Victor Orthophonic and Electric Instruments the World Over — Talk of Dividends on Common Stock of the Company The Victor Talking Machine Co. operations in 1927 demonstrated return to a sound earnings basis after a period of reverses following first wave of popularity of the radio. The year 1926 also was profitable, but it was in that year that the company brought out its new Orthophonic and electric instruments and a longer period was required to establish their permanent position. The past year accomplished this in a convincing way. Earnings for 1927 are expected to show about $7 a share on 571,086 shares of no-par common after depreciation, Federal taxes and dividends on various classes of preferred and preference stocks. For nine months ended with September net was $4,069,752, equal to $4.26 a share on common. Final three months is always the best period of the year in the talking machine business, and last quarter of 1927 is expected to show around $3 a share on common. These figures do not take into account fully the equity in earnings of foreign subsidiaries. President Shumaker on return from Europe was very optimistic on the foreign outlook for Victor's business. The English subsidiary in 1927 had the best year on record, earnings exceeding the $4,000,000 net of 1926. Good sales throughout 1928 are expected. Victor's domestic business was good throughout 1927, increasing in volume as the holiday season approached. In earlier months, when sales of radio companies were at low ebb, there was no abatement in demand for Victor products, except .the combination radio-talking machine instruments. In the final quarter Victor's plant was working at capacity, and demand for records and instruments was the largest in history of the company. In the final quarter also there was renewed buying of the combination machines. The year just passed has been highly important for Victor, as in that year the permanency of the modern talking machine was put to a test. When these new instruments, with marked refinements over their predecessor which had held popular favor for a quarter of a century, were introduced early in 1926 there was a rush of buying orders that set the Victor plant into capacity operations. It required more than this first flush of buying, however, to re-establish Victor instruments in a sound trade position. Except for such seasonal variations as are characteristic of the talking-machine industry demand for Victor products has gone ahead without interruption. They have again found a permanent place in the musical world and the threat held out a few years'* ago by radio appears to have been dissipated. Recent sharp advance in Victor common reflects present strong positi-cm of the' company and brings up the question of inauguration of dividends, according to a prominent financial writer in the New York Times. There has been no official intimation of the management's intention in this connection, but, in view of the satisfactory results in 1927 and present favorable prospects, there is a strong impression the question will be taken up for consideration early this year. Policy will be conservative, it is understood, and initial payment when made is expected to be at rate of about $3 to $4 a year. The William Taylor Co., Cleveland, O., has opened a radio shop in its arcade for patrons who do not care to go upstairs in the main building where the music department is located. All nationally advertised sets and accessories are being carried. American Sales Co., of Chicago, Introduces New Product in Which Are Incorporated Many New and Distinctive Features The American Sales Co., Chicago, for many years manufacturer of automatic, coin-operated phonographs, introduced several months ago an automatic phonograph for use in the home. Since this product, which was developed by W. H. Daily, of the American Sales Co., was first placed upon the market, many new developments have taken place which have been incorporated in the machine. The phonograph Daily Automatic Phonograph is equipped with four turntables, and the tone arm, revolving in a complete arc, plays four records without attention from the user. While one record is being played the other records may be reversed. When one record is finished the turntable automatically lowers. and the tone arm swings forward to the next turntable, which automatically rises within eight or nine seconds. The Daily automatic phonograph is powered with an electric motor which may be removed from the machine in ten seconds without removing so much as a screw. The latest in tone arm and sound box equipment is used in the Daily automatic phonograph and Mr. Daily recently developed a new type of sound chamber, upon which patents are now pending. The firm is also planning to introduce a phonograph with one turntable, powered with either an electric or spring motor, using the same type walnut cabinet and the same sound chamber, and it is expected that more models will be released in the near future. The coin-operated phonograph pictured herewith is enclosed in a glass case with a mirror in the rear panel. The interior is electrically lighted, and this instrument retails for $550 complete. The firm reports that music dealers throughout the country have shown an eager response to the initial announcement of this product, and are wide awake to the possibilities of installing automatic phonographs in cafes, billiard parlors, soda fountains, drug stores and other institutions in their locality. W. Curtis Busher and John F. McDermott recently purchased the interest of Harry I. Spayd in the Emerson Piano House of Decatur, 111. Both of the new owners have been connected with the establishment for a number of years. The lines handled include Victor Orthophonics and records. LEO. FEIST inc 231-5 w. 40™st.