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THE MUSIC TRADE REVIEW.
EDWARD LYMAN BILL
Editor and Proprietor.
PUBLISHED
EVERY
SATURDAY
3 East 14th St., New York
SUBSCRIPTION (including postage) United States and
Canada, $3.00 per year; Foreign Countries, $4.00.
ADVERTISEMENTS, $2.00 per inch, single column, per
insertion. On quarterly or yearly contracts a special dis-
count is allowed.
REMITTANCES, in other than currency form, should
be made payable to Edward Lyman Bill.
Entered at the New York Post Office as Second- Class Matter.
THE BUSINESS MAN'S PAPER.'
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HERE seems to be a slight interrup-
tion in the onward march of Mr.
Wm. F. Boothe just at the present time.
Mr. Boothe, however, promises to have all
obstacles removed in the very near future.
He is a wonderfully resourceful man.
W
E are pleased to learn that the il-
lustrations and descriptions of
patents which appear from week to week in
this paper, are appreciated by the trade.
Judging from letters received in this con-
nection they have proven of assistance and
value to many.
A
S can be seen in our regular month-
ly report of exports and imports,
which appears in another part of this paper,
the gratifying improvement in export trade
which has been noticeable for the past two
months, still continues. The increase is
substantial and encouraging.
E
VIDENCES continue to multiply of
returning prosperity in all branches
of trade throughout the country. Among
the most reassuring features of this im-
provement is the marked increase in the
circulation of money. The latest Treasury
statistics mark a change in the course of
the circulation, showing a net increase for
the month in the total amount of money
among the people, as well as an increase in
the circulation per capita, the net increase
for the month amounting to $9,649,867.
The chief item of increase was in gold coin,
amounting to $10,925,799; the next of im-
portance was an increase of $7,207,900 in
the amount of Treasury notes, and, lastly,
there was an increase of $3,201,960 in na-
tional bank notes.
This is a good showing.
P
RACTICAL men with practical ideas
mean practical results. This is well
illustrated by that busy triumvirate of
piano action makers, Wessell, Nickel &
Gross. In the progress of their business
they have been imbued with one aim, to
keep in touch with the times in all that is
latest and best and apply it to their busi-
ness, with the object of manufacturing a
piano action that would reflect credit on
themselves and on the piano manufacturers
using it. That they have succeeded in ac-
complishing their ideal is best illustrated
by the popularity of their wares, the excel-
lence of which is now recognized at home
and abroad. It is not surprising to learn
that Wessell, Nickel & Gross are experienc-
ing an excellent business, times considered.
They are keeping their full force of em-
ployees at work, and when their number is
considered, it speaks eloquently for the im-
proving condition of trade throughout the
cou n try.
T
HE annual report of Mr. Spofford, of
the Congressional Library, reveals a
steady though not a rapid progress of the
extension of international copyright. From
this document we learn that during the
year 62,762 copyrights were entered, as
against 58,956 in 1893, and that 40,208
copyright publications of all kinds were re-
ceived. Of the publications received about
14,000 were books, 15,000 musical composi-
tions, 10,000 periodicals, and 5,000 photo-
graphs, while the remainder were made up
of dramatic compositions, engravings,
chromos, prints, designs, maps and charts.
As the law compels all taking out copy-
right to deposit with the Librarian of Con-
gress copies of books, maps, descriptions of
works of art, etc., these figures have a
special value because they keep the people
of this country in touch with the latest
achievements of workers in these depart-
ments of mental activity.
INCOME TAX.
T
HE income tax decision rendered by
the Supreme Court last Monday is
unsatisfactory for many reasons. Instead
of wiping out this obnoxious law in its en-
tirety, it creates a situation which is sure to
be followed by further and lengthier litiga-
tion.
The provisions of the law declared un-
constitutional are unjust and unfair. They
exempt the large incomes from invest-
ments, and tax the incomes from industry.
The capitalist whose money is invested in
real estate, or in municipal, county or State
bonds is free from tax payments, while the
man whose income is derived from trade,
transportation, manufacturing or a salary,
has got to step up right away to the desk
and make himself square with the Govern-
ment.
The term applied to the income tax some
time ago that it was a "tax upon industry,"
has been,fully confirmed by the recent de-
cision of the Supreme Court. Instead of
being a tax upon accumulated wealth it is
a direct tax upon all that tends to the pros-
perity and progress of the country.
The loss of such a large proportion of the
revenue expected from the income tax will
undoubtedly prove a serious embarrass-
ment to the Treasury, and it is said that
the President is seriously considering the
advisability of assembling Congress in
extra session so that the law may be read-
justed and its burden imposed upon all
American citizens alike.
This legacy from the Fifty-third Con-
gress is so un-American in principle, and,
in its present form, so partial in its effects,
that it should be speedily obliterated from
the statute books of the United States.
The purpose for which this Income Tax
Law was introduced—of making up the
deficit in revenue—is now practically nul-
lified, and if the new Congress meets it
should take steps to repeal this law and
pass such a measure as will make up the
revenue origimilly expected from the tax
without compelling citizens to pay for the
privilege of being industrious.
Notice of Foreclosure.
A
NOTICE of foreclosure w r as served
last week on Napoleon J. Haines,
and also on F. C. Train, as trustee for the
Creditors' Committee, by the Manhattan
Life Insurance Co., which hold a mortgage
on the factory of Haines Bros. At the ex-
piration of twenty days from the period of
service, provided the interest due is not
paid up, the usual course of foreclosing and
selling the factory will be proceeded with.
The second mortgage on the factory is held
by the committee, for which F. C. Train
acts as trustee.
AMONO the callers to our sanctum during
the week were O. L. Fox, editor of the In-
dicator, and C. B. Harger, editor of the
Musical Times. Our Chicago confreres are
"stirring up" things in this easy-going city
of ours.