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THE MUSIC TRADE REVIEW.
talists, and says he can see no reason why
would engage the entire time of one man
their
or perhaps more, but the gain in the end
powerful neighbor should not have
the greater part of the trade.
That is
what THE MUSIC TRADE REVIEW has main-
EDWARD L\MAN BILL
Editor and Proprietor.
PUBLISHED
EVERY
SATURDAY
3 East 14th St., New York
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"THE BUSINESS MAN'S PAPER.'
would more than compensate for this ex-
penditure.
The scheme would put an end
tained right along, and it flatters itself upon
to swindlers, and enable manufacturers to
having made better known to the musical
authoritatively discriminate in their deal-
instrument manufacturers of this country
ings.
the great undeveloped commercial field on
right in their way, but they do not quite
our South.
fill the bill, and as far as renting is con-
Since the publication of the
The commercial agencies are all
"Southern Number" of THE MUSIC TRADE
cerned, they are of very little service. The
REVIEW, many manufacturers have nego-
number of pianos rented out to people in
tiated with dealers in Mexico, and there is
this city without careful investigation is
every reason to hope that a large trade in
formidable, effecting no small loss, either in
musical instruments will be established in
the way of unpaid arrears or damaged in-
due time. The Mexican Exposition of next
struments.
•year will do much in this connection. THE
things could be remedied by the adoption
MUSIC TRADE REVIEW will be pleased
of a credit department.
furnish information
appertaining
Fair as far as it effects-directly
to
In our opinion this state of
to the
the music
trade industry, as well as any other infor-
mation anent the advantages of representa-
tion in Mexico.
S
OUND
guards
banking laws are the safe-
of business—hence the two
important bills relating to banking institu-
tions which were signed by Governor Mor-
T
HE reorganization
of the Lindeman
& Sons Piano Co., as reported in THE
MUSIC TRADE
REVIEW
last
week,
that the name "Lindeman"
means
which has
been identified with the piano trade for
almost sixty years, will be pushed to the
front again
by capable and experienced
managers.
Members
of the Lindeman
family will be identified with the manu-
facturing department, and L.W. P. Morris,
a capable and conservative
gentleman,
with a thorough knowledge of the piano
I
business, will guide its fortunes commer-
T is amusing to note how eagerly one of cially. Althoiigh members of the piano
our contemporaries catches up a re- trade have been frequently accused of lack
mark made by a one-horse critic in a far
of sentiment, yet the renaissance, as it
Western paper about the Knabe
were, of an old and valuable name such as
piano.
Five or six inches of space is devoted to
this, is always gratifying.
The Linde-
belaboring the Knabe house and its pro-
man & Sons Piano Co. should have no
duct just because this insignificant
difficulty in building up a splendid trade.
critic
uttered the following critical (?) opinion of
They have the advantage of an old and
the Knabe piano:
"The instrument he
reputable name, ample capital, and practi-
played on is not by any means the best in
cal men in the manufacturing and commer-
the world."
cial departments.
Building a tirade on such a
puny and vacuous foundation
as this is
veritably like a drowning man grasping at
a straw.
We are destined to hear
considerable about the Lindeman piano in
the fall.
of our esteemed contemporary.
The splendid reputation which the Knabe
piano has maintained right up to date will
act as a stimulus to still gieater achieve-
ments in the piano manufacturer's art.
money from the institution without the ap-
proval of a majority of the directors; that
no bank shall lend money on or purchase
its own stock, unless to prevent a loss, and
that banks shall carry one-tenth part of
their net profits each quarter to their sur-
plus fund, unless this shall amount to 20
per cent, of their capital.
The act also
provides that it shall not be lawful for a
majority of the board of trustees of any
savings bank to belong to the board of di-
rectors of any one bank or national banking
association, and that where a majority of
the board of trustees of any savings bank
are now members of the board of directors
of any one bank or national banking asso-
ciation, their offices shall become vacant
after the expiration of ninety days from
the time of the taking effect of the act, and
that the vacancies so to occur in any board
of trustees of any savings bank shall, be-
fore the expiration of such ninety days, be
have
in such wise that a majority of trustees of
been inaugurated with marked success
such savings banks shall not be members
by several of the large banks and mercan-
of the board of directors or trustees of any
tile houses in this city for the purpose of
one bank or national banking association.
T
HE credit departments which
the financial standing and
The other law referred to provides that
reputation of customers and dealers, would,
where the State Superintendent of Banks,
investigating
we think, be worthy of adoption by piano
on the receipt of a report, or as the result
manufacturers. Such a department would
N an interview a few days ago, R. de prove invaluable to the houses making a
Comely, Foreign Director of the In- specialty of renting, and in the larger field
of an examination, shall conclude that any
• • • • • • • • • • • •
I
One of these measures provides that
hereafter no officer of a bank shall borrow
the general law relating to savings banks
the even tenor of their way in the future as
remarks
tion.
filled in accordance with the provisions of
Win. Knabe & Co. will pursue
they have in the past, uninfluenced by the
ton, and which became laws in this State
last week will meet with hearty approba-
such savings bank is insolvent and in an
unsafe condition to transact business, he
—the wholesale trade—the methods prac-
may take possession of it until the termina-
greater part of the Mexican foreign trade is
ticed by the banking institutions could be
tion of an action or proceeding instituted
in the hands of French and German capi-
successfully followed.
by the Attorney General.
ternational Exposition, remarked that the
This
department