Financial Records
name: label: Names
content: Fahr, Charles
label: Names
content: Reichmann, George
label: Names
content: Sohmer, Hugo
label: Collection Author
content: Falcone Custom Grand Pianos
label: Collection Donor
content: Pratt, Read and Company
label: Collection Creator
content: Sohmer & Company
place: label: Place
content: New York, New York
topic: label: Topic
content: Assets
label: Topic
content: Retail
label: Topic
content: Rental
setName: label: See more items in
content: Sohmer & Co. Records
unitdate: label: Date
content: 1887 -1962
dataSource: label: Archival Repository
content: Archives Center, National Museum of American History
identifier: label: Identifier
content: NMAH.AC.0349, Series 2
objectType: label: Type
content: Archival materials
label: Type
content: Financial records
label: Type
content: Ledgers (account books)
label: Type
content: Journals (accounts)
genre_format: label: Genre/Form
content: Financial records
label: Genre/Form
content: Ledgers (account books)
label: Genre/Form
content: Journals (accounts)
scopecontent: label: Scope and Contents
content: The Financial Records consist primarily of journals and ledgers dating between 1887 and 1962.  Because they are the most basic and inclusive accounting record of original entry, the Journals covering the years between 1915 and 1959, with the exceptions of 1931-1936 and 1951-1955, appear first and are arranged chronologically.  Typical journal entries for a month are petty cash, cash, accounts receivable retail, executive salary, cost of retail sale, rental piano expense, and insurance expense.  The new piano inventory entry includes estimated and actual costs of piano models.  By 1918 monetary values for the above entries are made under five categories:  private ledger, retail ledger, wholesale ledger, notes receivable, and interest.  They are then referenced to corresponding page numbers in the private ledgers of the same year.
General Ledgers, the principal accounting record of final entry, appear next and are arranged chronologically between the years 1901 and 1913, followed by one volume dated 1960 to 1962.  Early general ledger entries included advertising, bills receivable and payable, dealer's sale account, interest, insurance, loan, purchase, postage and stable accounts, ferriage and fare, fuel, and pianos bought.

Until Hugo Sohmer's death in 1913, the general ledger was used strictly for business accounting.  Around 1915 the company adopted a hybridized private ledger as the principal accounting record of final entry.  This "private ledger" continued to include family business with the company until 1939.  However, the name of the accounting tool remained "private ledger" until 1960 when it became simply "ledger."  Typical ledger entries for 1960 to 1962 at the end of each month for a year fall under four basic categories: Assets, Liabilities, Costs and Expenses, and Income.  Entries under assets include petty cash, cash, investments stocks, machinery and equipment, and various inventories including new pianos, exchanges, stools and benches.  Entries under liabilities include accounts payable for New York and factory, debentures, various taxes, notes, and H.J. Sohmer personal.  Entries under costs and expenses include cost of retail and wholesale sales, salaries and wages, executive salaries, commission, advertising, and various taxes including social security and real estate.  Entries under income include retail and wholesale sales, service, interest, and rental piano incomes.


The private ledgers, including bound ledger sheets for 1895-1911, are arranged chronologically by volumes between 1901-1945, excepting the years 1945-1946. The only purely private ledger covers the years 1901 to 1914; it includes predominantly family member accounts with the company. Salaries for management and accounts in which quarterly issued checks are paid out (perhaps returns on investments) are typical. George Reichmann, retail department head, and Charles Fahr, financial and business manager of the firm, are names on account. Several censuses of manufacturers, dated between 1909 and 1914, were in the private ledger of 1901 to 1914; they have been transferred to series III, the inventory and appraisal records.

As already noted, the Sohmer private ledger became a hybrid of the general and private ledger format around 1915.  Early typical entries in private ledgers include petty cash, accounts receivable, bank accounts, personal and drawing accounts, and retail advertising.  By 1939 the accounts were set up within four categories:  Assets, Liabilities, Costs and Expenses, and Income with entries similar to the 1960 1962 general ledger previously discussed.