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In the 1930s, Squier began making strings for the era's new electric instruments; the company also sold pianos, radios and phonograph records until divesting itself of all string-related products in 1961.
Once again just use common sense, don't expect 2001 prices in 2017 and you will be fine.
The song reached number 3 on the UK Singles Chart, and the top-30 in Belgium and Netherlands.