Music Trade Review

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THE MUSICAL CRITIC AND TRADE REVIEW.
March 5th, 1882.
hat challenge in Gerard's unequivocal manner,
Messrs. Lumber-man, Reed, and Reed-board-
;he public will judge him according to facts thus nan, and several other men who make keys, etc.
ar elicited.
the latter one of Beatty's favorite articles), will cast
HOW HE GULLS THE PUBLIC BY A PESSISTENT
furtive glance at their ledgers to notice the ex-
A CURIOUS FINANCIAL STATEMENT.
ent of such a discrepancy.
POLICY OP MISREPRESENTATION.
Instead of answering the challenge, Beatty oc-
The next item says: "Add to this Beatty &
upied his time in mailing postal eards, on which lotts's claim;" but as no sum is mentioned after
FOURTEEN FALSEHOODS NAILED SEBIATIM—THE ire printed a financial statement, addressed " To heir name, we suppose that Beatty & Plotts are
BOGUS DISPATCH AND THE CHALLENGE IT
vhom it may concern."
ibout square now with Beatty.
CALLED OUT—SINGULAB DELAY OF
It is thus made a public statement, and as such
We have always known Plotts to be square any-
BEATTY IN ANSWERING THE CHAL-
THE MUSICAL CRITIC AND TRADE REVIEW proposes
ow.
LENGE—A CURIOUS FINAN-
to analyze it.
NOTHING MEAN ABOUT HIM.
CIAL STATEMENT AND
It starts out:
SOME OF ITS IN-
We
now
reach
what is called, in the vernacular
Manufacturing cost to February 1, 1882, as fol-
TEBESTING
>f the day, the "daisy" part of the statement. It
ows:
DISCREP-
oundation, Brick, Smokestack, &c
$3,662 27 eads as follows, with an air of composure and
ANCIES.
Real Estate
5,336 34 eatified sanctity: "Add to this, good will of my
dvertised business—$200,000," which is over
Material for Building Musical Instru-
ments
26,708 13 me-half of the grand total, $397,586.80.
HE article published in THE MUSICAL CRITIC Machinery, Tools, &c, including Edison
So Beatty estimates the value of his good will
AND TRADE REVIEW of February 5, 1882, enti-
Electric Light
27,529 42 it two hundred thousand dollars! Who are the
tled "Beatty's Methods," has produced a deep Bills, Lumber, Material, Labor, &c
43,358 64 appraisers of the business? Every value depends
impression on the music trades of the country
upon the income that can be derived from it.
and among that portion of the reading public
$106,594 80 This is a cardinal principle wherever speculation
which is interested in mueic and the purchase and
does not enter into the calculation.
He calls all that "manufacturing cost."
use of musical instruments.
In order that the commercial world should be
Now, let us see. The last item covers two-fifths
Although Beatty's name had become a synonym f the entire outlay. What was that sum of forty nre of this value, an examination must be made,
for prevarication and willful falsifying, the real three thousand and odd hundred dollars paid for? nd it must be seen how much net income can be
depths of his scheme and its success with a large For bills? What bills?
lerived from said business, and then, on the
and ignorant portion of the public had not been
What bills does he want after he pays the bills strength of tin's net income, a value is placed upon
exposed.
"or material, machinery, tools, electric light, labor, he whole investment.
The press must be credited with the discovery lumber, real estate, smokestack, and the etceteras?
Beatty's word may be a comfort to him, but as
and exposure of many of the most nefarious He does not lay out anything for bills, but he we will prove most conclusively that he is in a
schemes that have been operated to ensnare the pays (if he does pay) all the bills for the sundries chronic state of willful falsifying, we cannot be-
public, and the exposure of this scheme is a duty enumerated in other portions of the statement. lieve that he even estimates his good will at that
which THE MUSICAL CRITIC AND TRADE REVIEW is Consequently, this is totally worthless as a finan- figure, much less that it is worth what he says
determined to fulfill at all hazards.
3ial statement.
it is.
It makes very little difference whether Beatty
The next statement that follows refers to a build-
THE BOGUS DISPATCH.
ing in Washington, N. J., occupied up-stairs by alnes his business at two dollars or two million
Beatty reaches the public by means of extensive Beatty, and includes even more remarkable figures dollars, or any intermediate sum between the two.
advertising; he never hesitates to print almost any han the preceding statement:
The world at large cares nothing for such an
absurd or false statement, provided it will bring in Printing Office
$1,500 00 stimate, which is made up entirely of one side of
a profit, according to his calculation.
Washin ton Water Co. Stock, paid in
l,fi00 0<> , balance sheet, if such a statement can be digni-
It will be remembered that the New York limes Stock, Pianofortes, and Organs on hand. 3,800 00 fied with the title of balance-sheet.
of January 28, 1882, contained a report that Personal Effects, Horses, Carriages, &c.. 4,065 90
Beatty is a man who never scruples about the
Beatty's factory had been destroyed by fire again. Furniture and Fixtures (includingWind-
use of language. He says and prints almost any-
This dispatch was dated from Washington. N.
sor)
5,981 35 thing, and only watches very carefully that his
J. The New York Herald of January 30, 1882, First National Bank Stock, paid in
6,544 75 statements should be equivocal. Of course, he
contained a bombastic denial of The Times dis- Printing, Cost (estimated)
7.000 00 ontinually "jiuts his foot in it," especially if the
10,500 00 matter is investigated. Under the statement an
patch, and in this denial, Beatty included some of Funds on hand, in bank
Add to this Bills Receivable, about
50,000 00 article appears, signed by Beatty. It is called
his usual statements, which were not true.
He accused "some person or persons" with hav- Add to this Beatty & Plotts's claim
The Beauty of this Statement:"
incr sent the dispatch, and at last settled upon a Add to this Good Will of my Advertised
"I am happy to announce that there is not a
200,000 00 mortgage on the above whatever, nor a judgment
Wnliam Gerard, residing in Hackettstown, N. J. Business
(a place near Washington, N. J.), as the malicious
$290,992 00 of any kind against me. Nearly all of the above
Total amount
397,586 80 was paid for in cash." He continues, after a few'
slanderer. What happened thereafter is found in
the following affidavit and challenge, printed in
lines, " Let the Monopolists Rage, Daniel F. BeaUy
"THE BEAUTY OF THIS STATEMENT."
still lives."
The Iron Era, of Dover, N. J.:
This sentence follows the statement: " THE
These remarks are placed directly under the
MUSICAL CRITIC AND TBADE REVIEW proposes to
announcement, Total amount, $397,586.80, and
An Affidavit and Challenge to Beatty.
fiud out 'The beauty of this statement.'"
STATE OF NEW JERSEY, f
We will pass all the items in this statement, in- convey the idea that this sum has no offset in the
WARREN COUNTY,
\ 88 '
cluding the "funds on hand, in bank, $10,500,' shape of mortgage or judgment.
Yet there must be some kinds of bills payable,
I. William Gerard, of the town of Hackettstown although the many persons who expect organF
Warren County. New Jersey, having been charged by from Beatty for the money which they have sent as Beatty himself remarks, "Nearly all of the
Daniel F. Beatty, of Washington, county and State a long time ago, and who have been patiently above was paid for in cash."
Nearly all. Why does not the sum represented
aforesaid, with being the auth- r of a certain libel waiting for their organs, must begin to feel rather
•cms tnlegiam to the New York Times, newspaper unpleasant when they find a bank account of $10,- by the word "nearly" appear as an offset?
the ^uhstance
of which appeared in that paper of
So we have discovered one item, in addition to
opposite to another account representing what
January 2 w th. 1882 to the effect that the said Beat- 500
the $200,000. which should be deducted from the
Beatty
owes
them
in
organs.
ty's Organ Factory had been burned on the night be-
We will pass all this, however, and begin with total, $397,586.80.
fore, etc.—now, being duly sworn according to law
Then the $50,000 owing Beatty, we should say,
the
account that states "add to this bills receiva
say upon this, my oath, that I was not the author o
is an impossibility in a strictly cash business.
said telegram, and, furthermore, that I never con ble, about $50,000."
spired or agreed with, or made any suggestions to
Who owes Beatty any money? He has always Then the two-fifths under the heading of " Bills"
or anv understanding with any person or persons, to advertised and continues to advertise: " I sell for must also be added, and. as a result, simply taking
his own statement, we will now append a neutral
the effect that any such telegram should or might b< cash, and for cash only."
statement of what might possibly be the case:
sent. Furthermore, that I never had the least knowl
He
has
no
agents
to
sell
his
organs;
he
boasts
edge. Intimation, or idea, from any source, that ani
of
selling
directly
to
the
purchaser.
He
keeps
no
Total, per Beatty
$397,586 80
such telegram was sent or was likely to be sent, to
Deduct:
the New York Times, or any other newspaper, by accounts, whether wholesale or retail. "Cash with
$43,358 64
any person or persons ; neit her had I the least knowl- order" is his favorite maxim, and as all fools are Rills, &c
Bills Receivable
50,000 00
edge, intimation, or idea that any such article had not dead yet, he gets the cash.
200,000 00
or was likely to appear, in anv newspaper, previous
What system of financeering can produce a Good will
Total
293,358 64 ,
to its appearance in the New York Times of the date "bills receivable" account when no credit busines
above mentioned, and it* general distribution on is done by the concern? None; there is no sucl
Balance
$104,228 16
that day.
WILLIAM GERARD.
thing as "bills receivable" where cash, and casl
Sworn and subscribed before me. this
only, pays for the article, even before it is shipped. From this sum must be deducted "Bills pay-
9th dav of Februnrv, A. D. 18*2.
This one item is, consequently, also completely able," as we proved before. In this calculation we
DAVID RARTON.
valueless. "About $50,000" might as well be $5 have allowed his own valuations, although we have
Master in Chancery of New Jersey. for all practical purposes.
reason to doubt that his printing is worth $7,000;
Having made the above affidavit, I hereby chal
Yet there is another phase of this remarkabl his furniture and fixtures nearly $6,000; his stock
lenge Daniel F Beatty to make a like affidavit, an< statement of financeering which must not be over of organs and pianos, $3,800, and the machinery,
to cause the same to be published in the Dover Iro looked. For an expert, the statement offers ma- tools
and materials for instruments, over $54,000.
Era, or in any of the newspapers published in War terial for a comedy at first glance. Let it be known
We say we have reasons to doubt all this on gen-
ren County, New Jersey.
WILLIAM GERARD.
that there is no mention made of "bills pay- eral-principles.
HACKETTSTOWN, N. J., Feb. 9th, 1882.
able"!!!
This balance of $104,000 may be swept away by
Beatty tells "whom it may concern," that $50, his bills payable, especially when the true value
Mr. Gerard was compelled to take this step, ai
Beatty had hinted at him as the perpetrator o 000 is coming to him, while there is no dollar pay of the above-mentioned articles is reached.
able by him.
what he called " the outrage."
BEATTY'S FORTUNE.
Now several manufacturers, when they read this
The most remarkable fact connected with this
It must now be remembered, however, that
matter is that Beatty has not answered this manlj will look in blank amazement at a statement lik<
that, containing no "bills payable" account, whe Beatty has a little fortune in his possession be-
and straightforward challenge.
Mr. Gerard is known in that section as a quiet, the man making the statement is buying from them longing to other people who have forwarded the
cash, and have not received the organs. We men-
highly respectable citizen. Until Beatty answers on thirty and sixty days!!
MORE ABOUT BEATTY'S METHODS.
T