Music Trade Review

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THE MUSIC TRADE REVIEW.
LYMAN
Editor and Proprietor.
PUBLISHED
EVERY
SATURDAY
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De made payable to Edward Lyman Bill.
Bntertdat tht New York Post Office as Second (Ja is Matter.
NEW YORK, APRIL 18, 1896
"THE BUSINESS MAN'S PAPER."
and individuals to fight shy of giving cre- no occasion to trouble them when times are
dence to the many uncalled-for predictions fairly good^-at least, not to as great an ex-
and forecasts which are already rife.
tent as at the present time. Hence we
Notwithstanding the general pessimistic think it is the duty of banks to be more
feeling prevailing, business generally has liberal just now in support of their custom-
not been, nor is, as bad as many would ers.
have us suppose. The opinions of several
There is no doubt but the recent failures
manufacturers which appear in this issue in the trade have done much to undermine
disclose a very satisfactory condition, both the confidence held by the banks, but when
as to present and future trade—at least, this matter is clearly analyzed, and the
sufficient to counteract the general idea healthy condition of the trade for the past
that trade at large is going to the "bow- three years taken into consideration, this
wows. "
lack of faith is not based on reason. It is
At no time was it more necessary to have safe to say that few industries can report
a level head and a surplus stock of confi- less failures than the music trade.
dence.
Much depends during the next six months
The music trade has successfully weath- upon the treatment accorded the trade by
ered a rather trying commercial storm for the banks. An unnecessary conservatism
the past few years, and it has been knocked and want of confidence will work no end of
about a bit during the past week by a small harm, while on the other hand a liberal but
gale; but before long it will reach the port discriminating support will be of material
of good times with some damage perhaps, benefit. It will tide manufacturers over a
but with a lot of experience aboard, which period of monetary stringency which is cer-
will be of advantage when again sailing tainly unparalleled.
over the smooth waters of prosperity.
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The very impartial acknowledgment of
Elsewhere in this paper we publish an the valuable Steck patents and inventions
article upon "Credit Systems." It is in made by Mr. William Steinway in his ad-
line with our editorial on this subject last mirable article on "American Musical In-
week, and applies as forcibly to the music struments," which appeared in this paper
trade as to any other industry. The grant- two weeks ago, speaks not only for Mr.
ing of credits appears to be a simple matter Steinway's fair mindedness and liberality,
to a great majority of manufacturers. In-
but affirms the "lasting value" of the tech-
deed, recent failures among dealers demon-
nical achievements of the Steck house as
strate that it has been dispensed without
embodied in their products. The tribute
due consideration of its importance.
paid the improvements in the Steck piano
It is far from being as simple a matter as by Mr. Steinway is well deserved, and is in
E hardly consider it necessary at many think, however, and upon it hinges line with the opinions of musicians and
the present time to enter inU the safe conduct and prosperity of business leading dealers who have used and handled
any elaborate resume* of the causes which to-day. There are so many details con- these instruments.
have led up to the failures reported in the nected with the dispensation of credits that
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East and West during the past week. As it partakes of the nature of an exact science.
We
learn
that
Strich
& Zeidler, piano
The sooner manufacturers realize that
far as the Briggs Piano Co. are concerned
the failure is not a bad one, and although this is one of the most important depart- manufacturers, of this city, are about to
ments of their business, there will be less bring suit against Albert Steinert, manager
authoritative figures are lacking, it seem
that the assets will be ample to cover the failures; the honest and progressive dealer of the Providence branch of M. Steinert &
indebtedness, therefore it may safely be will be appreciated and the unscrupulous Sons Co., for $25,000 damages for slander.
predicted that they will re-organize in due and dishonest man who is trading on other In fact, the summons has already been
time and work along on conservative lines. people's capital will have to seek "fresh served. The matter is in charge of Com-
stock & Gardner, attorneys, of Providence,
It has all along been the aim of the found- pastures."
who represent Strich & Zeidler. The par-
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ers of this concern to manufacture and
ticulars relative to the basis of the action
market an excellent piano in keeping with
Complaints are many among manufactur-
their general reputation as first-class piano ers for the past few weeks, that the banks, cannot be published, until after the papers
makers and honest men. That their efforts both in the East and West, are unusually are filed on April 25th; suffice it that the
have not been appreciated is due to the pe- conservative in the matter of handling all matter at issue is an important one, which
will be of vital interest to the trade.
culiar commercial conditions which prevail kinds of piano paper.
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nowadays.
It is true banks have a right to do as
The moral effect of the failures in the they please in a matter of this sort, but it
Further particulars of the failure of the
piano trade at the present time is undoubt- is just at such a time as the present, when Briggs Piano Co., of Boston, which was an-
edly bad; it will result, as a matter of money is unusually scarce, that they can be nounced in our last issue, are meager. C.
course, in the usual crop of rumors which of most service to the mercantile commu- B. Southard, to whom the assignment was
inevitably follow commercial catastrophes. nity.
made without preferences, is unable as yet
At this time it behooves trade journals
As a general thing manufacturers have o furnish a definite statement of the condj-
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