Bruce

Harmony was founded in 1892 by Wilhelm Schultz. In 1916, Sears, Roebuck and Co. purchased it,
in part to corner the ukulele market. At the time Harmony was led by Joe Kraus, who was chairman
until 1940.[1]

In 1928, Harmony introduced the first of many Roy Smeck models, and went on to become the
largest producer in the U.S. They sold 250,000 pieces in 1923 and 500,000 in 1930, including
various models of guitars, banjos, and mandolins.

In the late 1930s, the firm began making violins again after a 19-year hiatus. They also bought
brand names from the bankrupt Oscar Schmidt Co.—La Scala, Stella, and Sovereign. They sold not
only Harmony products, but instruments under the Sears name, Silvertone, and a variety of trade
names—Vogue, Valencia, Johnny Marvin, Monterey, Stella, and others.[citation needed] In 1940, after
Kraus had a conflict with management, he left, but then bought enough stock to restart the company
independently.[1]