page_title: The Music Trades (magazine)
section_title: 1929 bankruptcy
hierarchical_section_title: The Music Trades (magazine) / History / 1929 bankruptcy
caption_attribution_description: English: Henrietta Lander (née Rich; born 29 July 1874, Dawson, Georgia) (Mrs. Milton Weil), Met Museum Collection Henrietta Lander, from the Actors and Actresses series (N45, Type 8) for Virginia Brights Cigarettes.
context_page_description: The Music Trades is a 129-year-old American trade magazine that covers a broad spectrum of music and music commerce, domestically and abroad. The magazine was founded in New York City in 1890 and, since the mid-1970s, has been based in Englewood, New Jersey. The Music Trades is one of the longest-running, without interruption, trade publications in the world. The May 2020 issue — Vol. 168, No. 4 — is approximately the three thousand and eighty-fifth issue. A controlling ownership over the last 90 years — seventy percent of the publication's total age — has been held by three generations of the Majeski family, making it among the few current publications of any ilk that has been closely held by a single family for as long a period.
context_section_description: Walter Howey — who, before heading Trade Publications, had been the founding managing editor of the New York Daily Mirror — left Trade Publications to again become the managing editor of the Mirror on August 1, 1928.  Trade Publications, Inc., filed for bankruptcy in 1929. The Irving Trust Co. was appointed receiver for Trade Publications, Inc., which had liabilities of $716,839 and assets of $59,511. John Logan Lyttle (1879–1930), bankruptcy referee, sold at auction to John Majeski, Weil's former assistant, on July 19, 1929, four of the six magazines for $45,200: (i) Musical America, (ii) The Music Trades, (iii) The Barbers' Journal, and (iv) Beauty Culture. Of the $45,000 Majeski paid for the six publications, $11,000 of it was attributable to Musical America and The Music Trades, for which, three years earlier, around 1926–1927, he had offered a quarter of a million dollars, in a losing bid against Trade Publications, Inc.  Majeski's acquisition included the publications' names, a collection of back issues, and a few months of office space in the Steinway Building.
  A few months before the bankruptcy auction on July 19, 1929, Weil was said to have sold all his interest in Trade Publications, Inc., for $200,000 in preferred stock. After he sold, he and his wife moved to Paris, where they were residing during the bankruptcy auction. The bankruptcy sale wiped-out Weil's stake built-up over a lifetime.  Weil, at the time of the bankruptcy sale, was said to have only taken $5,000 with him to Paris.  Weil's father, Jacob A. Weil (1835–1913), was a Paris-born American and his mother, Dina (née Lilienthal; born 1843), was a German-born American.
caption: Henrietta Lander, 1888
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