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THE MUSIC TRADE REVIEW.
RETROSPECTIVE AND PROSPECTIVE.
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HK curtain has fallen on the scenes of '93.
We have witnessed considerable comedy,
much farce, and no little tragedy.
1893 has now passed into history, and there
are few, indeed, who will mourn its departure.
The year just closed has been remarkable for
financial disasters in all parts of the world. The
extent of the losses in business and in specula-
tion can hardly be measured. Bank failures,
involving an enormous amount of capital, have
occurred both at home and abroad. The pre-
vailing sentiment of distrust and lack of con-
fidence in business affairs was accentuated when
the Congress called together for one purpose, to
repeal the silver purchase law, failed to take
action. After much wrangling the bill was
finally repealed; but confidence is, indeed, a
plant of slow growth, and both the bank and
commercial community continued to move care-
fully. The depreciation in stocks of various
kinds has been estimated at over two hundred
and thirty-five millions. Truly an enormous
shrinkage in a country free from devastating
wars and pestilences of every kind. Business
interests everywhere have suffered heavily, and
the music trade, in common with other indus-
tries, has suffered, but not to the alarming ex-
tent to which some of our pessimi»tic friends
would incline. It is true that there has been a
large shrinkage in the art product. Owing to
the detached condition of the trade, it is almost
an impossibility to get at the exact figures of
the output of pianos and organs, but upon care-
ful computation we are led to believe that the
shrinkage of '93 over the preceding year ap-
proximates thirty-three and one-third per cent.
Some of the firms in the music trade have
suffered heavily ; others have managed to hold
their own with the ebbing tide ; and still some
new firms have sprung into existence during the
past year. However, the instances are few
where a satisfactory degree of increase has been
reached ; but the year is at an end. Talleyrand
is said to have remarked that the most remark-
able thing he ever did during the Reign of Ter-
ror was to have lived through it. Those of us
who have lived through '93 are not particularly
desirous to encounter another year similar to it
in the near future. But perpetual sunshine is a
thing unknown, and we have all encountered
some cloudy weather and occasional storms since
we stood beside the grave of '92.
It has been remarked frequently during the
year that there would be a thinning out of
manufacturers last year, that there would be
many who would be forced to the wall, and who
never would be able to rise again. But has this
prophecy proven true? The concerns which
were forced to succumb have effected arrange-
ments with their creditors so that now they are
in possession of their business. Do we begin
'94 with the music trade lessened by the drop-
ping out of any firms of importance in the manu-
facturing line ? Most emphatically we do not.
What there is in store in the immediate future
it is difficult to predict. The expenses of many
of our manufacturing firms have been largely
augmented the past year by reason of the large
outlay to maintain an exhibit at the World's
Fair. That outlay, however, is bound to return
with a liberal increase in the future, the entire
world has been brought into closer relations and
have a better idea of our art industry than ever
before.
There is no doubt that trade during the month
of January will be exceedingly quiet. Even in
the best of times the first two weeks in January
are usually devoted to the taking of inventories
and the outlining of plans for the year's busi-
ness. The inventories will be taken just the
same as previously, but as to the outlining the
plans of future business—that will be largely
influenced by national legislation. It is to be
hoped that our Congressmen, the representatives
of the people, will settle the matter of tariff
legislation quickly, and let the commercial in-
terests of this country at least know upon what
they may depend. The sooner the uncertainty
under which we are now laboring is removed the
better it will be for all, and if we are to witness
the recurrences of the disgraceful scenes which
were enacted at Washington last fall, then, in-
deed, will the business prospects be retarded.
Politics may check the onward progress of this
country, but it can only be temporary. It is to
be hoped that the early adjustment of these mat-
ters will be reached, and that the music trade,
with other lines of industry, may know upon
what they may base their operations for a time.
There is a bright side to business surely when
once this tariff matter is out of the way. In
almost every line of manufactures there is a de-
pleted stock; the usual large orders placed for
subsequent shipment have not materialized ; the
stocks in the retail stores are lower than they
have been for years, and there are no accumulated
reserve stocks upon which to draw at the various
factories. The result is this: As soon as the de-
mand comes, the wheels of trade and commerce
must quickly revolve. It is so with almost
every trade. Then there is a condition existing
in special trades which is encouraging—for
illustration :—those of us who pay rents for
homes, factories, warerooms, or offices know
that no reduction has fallen on rent. As soon
as this prospect is generally realized there must
be a smart revival in the building trades. Along
with that revival comes an equivalent activity
in the important industries subsidiary and aux-
iliary to those trades.
lji?T is clearly evident that Hardman, Peck &
Sw Co. 's wholesale and retail trade is re-estab-
lished on a firm basis, and everything shows that
it has resumed its old time activity. With a few
exceptions, the Hardman piano is being handled
by their old dealers throughout the country, and
during the past two weeks Mr. Peck has been
furnished with pleasing evidences, in the shape
of orders, to prove that the trade are still enthu-
siastic advocates of the merits of this celebrated
instrument, and firm believers in its future pos-
sibilities. With such a talented business execu-
tive as Mr. Peck, and a piano that has won
international fame, all that is needed now is a
clearing of the industrial horizon to enable
Hardman, Peck & Co. to attain that pre-emin-
ence which is their due.
pS announced in another column the Knabe
agency in Boston has been transferred
from E. W. Tyler to the great house of Oliver
Ditson Co. This move must certainly redound
to the great advantage of the Knabe interests in
New England.
At the time of the present writing it is not
given out just the amount of territory that will
be controlled by the Ditson Co., but'it is under-
stood that a number of the small dealers in New
England will have to deal with Boston as head-
quarters instead of Baltimore, as previously.
Decker Bros.' pianos have hitherto been
carried as a leader by the Ditson concern. The
Knabe will now assume that position, and the
Decker piano is withdrawn. The change being
so recent, the latter firm have nothing, at
present, to state regarding their future plans.
But, of course, a piano so well known as the
Decker Bros, will not remain long without a
suitable representation in Boston. This move
for the Knabes, coming, as it does, close upon
their Northwestern deal with the Dyer firm,
demonstrates the fact that the Knabe interests
will be stronger factors in the trade in '94 than
ever before.
notable recognition which the house of
fff» J. & C. Fischer received at the World's
Fair is being utilized by them to the best advan-
tage. They are keeping the facts well before
the public through the press, and their enter-
prise is having its reward in an increased growth
of retail business. The Fischer has always been
a popular piano—the great home instrument—
and the present policy of the house will help to
make it more so, while their magnificent grands,
which have won exceptional mention at the
Fair, are recognized among musicians as pos-
sessing intrinsic merits. The New Year has
opened with unusually bright prospects for the
house of J. & C. Fischer, both in the retail and
wholesale branches, and, notwithstanding the
times, everything points to an increasing trade
all through the country.
JE||HE
'ECENTLY the New York Sun headed its
editorial columns with the following-
statement, taken from a trade paper, The Var-
nish, showing a remarkable state of unfitness,
from lack of interest, on the part of the framers
of the Wilson Tariff Bill. This is the quotation :
'' Here are the names and addresses of the
leaders of the Ways and Means Committee:
Chairman Wilson, Charleston, W. Va., popu-
lation 2,287 ; Benton McMillin, Carthage, Tenn.,
population 478; Henry G. Turner, Quitman,
Ga., population 1,868 ; Clifton R. Breckenridge,
Pine Bluffs, Ark., population less than 1,000 ;
Alexander B. Montgomery, EHzabethtown, Ky.,
population 2,260. We have no advertisers from
any of those towns ; no trade paper has ; there
are no manufactories located there, and yet all
the manufacturing industries of the United
States must lie idle, while these men, who know
nothing about manufactories, argue over what
they do not understand. "