The First Hawaiian Conservatory of Music was a marketing tool of the Oscar Schmidt Company of New York, started around 1919 and continued until the late 1930’s. They would sell a guitar and 12 months of correspondence guitar lessons for a nominal down payment and monthly repayments. They would advertise these courses in Popular Mechanics and other magazines of the period.
The guitars they supplied with this course are now widely regarded, along with the Oscar Schmidt Stellas, as the cream of old blues guitars. These rarely come up for sale in the US, and never in Australia. Artists keep these guitars when they get a hold of them. This guitar was used extensively in studio work in Alabama until we managed to get our hands on it!