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Foster & Waldo
The Foster & Waldo Piano Company was established by R. O. Foster in Minneapolis, Minnesota sometime around 1910.  The firm started out primarily as a large retailer of pianos and musical instruments in the Twin Cities area, but they began manufacturing pianos under the “Foster & Waldo” brand name sometime around 1918.
The firm built a full line of upright pianos, player pianos, and small grand pianos. The Foster & Waldo piano line was used as an affordable alternative to more prestigious and costly brand names sold by the firm, while still being able to offer high quality. Instruments by Foster & Waldo were never built in vast numbers, and they are quite rare today. Foster & Waldo pianos were discontinued sometime just before the Great Depression era.

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Foster & Waldo Article
Early 20th Century Article About The Foster & Waldo Piano Company, Circa 1916