Music Trade Review

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THE MUSIC TRADE REVIEW.
It was said that every salesman of a high-
grade instrument who met a Weber piano
in competition would invariably use as an
argument the statement that the Weber
piano had deteriorated in artistic qualities,
hiving been absorbed by a manufacturer
who made several grades of cheaper pianos.
How much this has militated against the
success of the Weber piano, is now history.
It was said by many that it would be a
physical impossibility for Mr. Wheelock to
successfully assume the management and
direction of the various enterprises of
which he was the recognized head.
It seems that shortly after the reorganiz-
ation of the Weber Co., his health began to
fail. He could not withstand the tremen-
dous strain necessary for the conduct of his
various business enterprises. The strain
before was heavy, but since the assumption
of the direction of the Weber business, it
became still more emphasized. He was
ambitious, but his ambition soared to a
point which he has not been able to gain.
He has been actuated by honorable busi-
ness motives, but he has fallen far short of
obtaining that for which he sought.
We do not wish to do Mr. Wheelock an
injustice, but we feel, while discussing the
causes which were influential in causing
his business downfall, we can not overlook
a strong factor in this case, and so recog-
nized by eminent trade authorities. We
refer to the fact that there is a sentiment
largely existing in this trade, that in order
to successfully uphold a great name—one
which rests upon artistic qualifications—•
one must be schooled in a certain musical
atmosphere—an artistic environment—from
which the odor of commercialism is far
removed.
Mr. Wheelock, whose business reputation
and ability as a financier were unquestion-
ably of the highest, had always been asso-
ciated with commercial pianos. He was a
manufacturer—a financier. He perhaps
looked upon all piano making in the same
light—being himself commercial—over-
looked the artistic. At least we must so
infer from the fact that he retained his
leadership in his other enterprises while
holding the presidency of the Weber Co.
It is most regrettable that in its downfall
the Weber Co. should have dragged a num-
ber of companies in its wake, some of
which make a magnificent showing.
On all sides we have heard prominent
manufacturers express sympathy with Mr.
Wheelock and his associates in their present
unfortunate position.
On Mr. Wheelock certainly the blow
falls heaviest, as he has been an indefatig-
able worker for many years, a man imbued
with honorable business ambitions. To
him the blow must be a crushing one,
—softened somewhat by the kindly sym-
pathy of his friends.
The stockholders in the company will be
the heaviest losers, and for many of them
it will be a serious loss. As far as the
creditors of the concern go, it would seem
as if they would sustain a comparatively
small loss, provided that affairs of the
company are judiciously manipulated.
Naturally there will be all kinds of com-
ment over the causes which led up to the
application for receivership.
In considering the matter, it must be
remembered that a sum representing tens
of thousands was expended in the improve-
ments of the Weber building. That large
bills were incurred in various other ways.
That we have been passing through such
times as were never before seen in this
country.
Of course, a name that has survived
through all the years, and through the
many vicissitudes to which the Weber name
has been exposed, will not become extinct,
but at the present time it is under the worst
cloud in its entire history.
Of course, a reorganization and all of
that will eventually follow, but at the same
time, the stain is there, and it will require
some time to entirely efface it.
ON WITH THE TRADE DANCE.
There can be no doubt whatsoever that
the result of the loan will be a renewal of
confidence in business, and that the
country will feel the effects of it in the
stimulation of prosperity.
Bank presidents admit that they are
astounded at the result shown by Wednes-
day's bid. They say they had no reason to
believe that it would approximate anything
like the figures which it did. They say
further, that such a demonstration is cer-
tain to restore business confidence and to
convince the country that the financial
institutions of the land have confidence in
its resources.
The effect should be immediate and
entirely satisfactory in restoring bettered
conditions in business of all kinds. It will
show too the tremendous resources which we
have as a people, and it also furnishes
indisputable reasons why the business
enterprises havebeen lagging for the past
few weeks.
How could it be otherwise, when millions
upon millions were hoarded up waiting for
the bond bids ? Now that money will
quickly seek investments in other channels,
the result will be a. hearty stimulation of
business of all kinds.
It is not too late to hope for a good
spring trade. Reading over the list of the
institutions which bid for the bonds,one fact
that impresses itself upon us is the long
list of little country banks all over the
land, asking for a few thousand dollars
each of the bonds.
We must understand that these small
banks are the depositories of the money
savings of farmers, mechanics, laborers
and others who showed their patriotism,
and at the same time the financial reserve
strength of this country, by desiring to
place their money savings in the Govern-
ment's keeping.
Talk of hard times, it is only confidence
that we need to make business good. The
list contains individual bidders from almost
every State; individuals who give addresses
of post offices which are comparatively
unknown. But it only shows that way
down in secluded spots is hidden vast
untold wealth possessed by the people of
this great Republic.
Now that the people have shown their
confidence in the Government, let the
moneyed institutions show their confidence
in the business men of the country by
speedily unloosing the money which they
have retained within their vaults, and let
all put their shoulders to the wheel and
send it spinning around at a good lively
RULY an eventful day last Wednes-
day, the greatest day since Appomatox
and the report from Washington regarding
the bids for the bonds was watched as anx-
iously as if the peace of the country de-
pended upon the results.
The magnificent response to the call for
bids will result in better business condi-
tions all along the line. The banks now
will release the vast amount of moneys
which they have been hoarding, and the
wheels of trade will revolve with quickened
life.
The European investors will be quick to
speculate in American securities when they
realize the undying faith which the people
of this Republic have in their Government.
Over $600,000,000; think of it! And
still that is only a small part of the money
which could be raised if Congress authorized
a popular loan issue through the post offices
in small denominations. The over-sub-
scription should be regarded as most
encouraging to the business interests of
this country, and as a further assurance
that the American people are surcharged
with patriotism, which they are willing to pace.
Let the dance move onward, and the trade
prove by subscribing for the bonds issued
joy vviU be unconfined.
through their Government.
T