Music Trade Review

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THE MUSIC TRADE REVIEW
It is alleged in this trade that recently
a piano manufacturing concern on less than
$4,000 capital obtained a credit of over
0,000, and that a large portion of the in-
struments manufactured by this concern
were sold to its chief stockholders, who
EDWARD L\MAN BILL
Editor and Proprietor.
also drew large salaries.
If such conditions exist in this trade, it
PUBLISHED EVERY SATURDAY
is well to start in on the threshold of good
3 East 14th St.. New York
times in a clear, level-headed, business
SUBSCRIPTION (including postage) United States and
way. Better by far to sell less wares, but
Canada, $3.00 per year; Foreign Countries, $4.00.
ADVERTISEMENTS, $2.00 per inch, single column, per to sell them well, than it is to be careless
Insertion. On quarterly or yearly contracts . •• special dis-
count is allowed.
of credits.
REMITTANCES, In other than currency form, should
0© made payable to Edward Lyman Bill.
There never has been a company that
Bntered at tht New York Post Office as Second^ CZaiS Mmtttr. was entitled to credit a dozen times the
amount of money invested in it. Such
NEW YORK, NOVEMBER 2 1 , 1896.
things are out of all manner of reason, and
we emphasize that this trade should start-
TELEPHONE NUMBER 1745. — EIGHTEENTH STREET.
right; start on a good, clean, healthy basis,
- T H E BUSINESS MAN'S PAPER."
and at the end of two or three years they
may have some concerns weeding out, but
those who remain will be a mighty sight
healthier. In other words, the purifica-
tion should begin. If there are ulcers
they should be removed, and the body will
soon be the more healthy for the removal
of poisonous sores which exude an infec-
tious, as well as nauseating poison.
Deserving men are always worthy of
credit, but have a care, gentlemen, have a
care! Just preserve a good balance while
things are brightening up all over the
Por'.'ov
country. .
Fjr lbs hU' x IV
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Rr t & $3 £oci Ojat we"
USINESS prospects are brightening
up in all sections of America, and from
almost every town comes to us reassuring
news of a revival of trade. While speak-
ing of the present outlook, a well-known
member of the trade remarked the other
day: "I think there will be more failures
among dealers during good times than in
bad. In other words, a good many of them
will lose their heads, and buy more stock
of every kind than they have the ability to
dispose of or pay for."
Now there is sound logic in that state-
ment, and it should be carefully heeded by
wise dealers all over America. It is much
better to buy stock in small quantities,
pay for that stock and run a safe business,
than it is to go in, in the old hurrah style,
place large orders, perhaps strike a wave of
stagnation in trade, have bills maturing
which cannot be met and then be forced to
the wall. A safe business should be the
cry from this time on, and while writing
upon the subject, it might be well for all to
exercise due consideration in the assign-
ment of credits.
B
^ Whether the matter of raising revenue to
meet the expenses of the Government will
be considered or not at the session of Con-
gress which meets next month there is one
important duty, however, which it owes the
business community, and that is the pass-
age of a national bankruptcy bill, which has
now been "hanging fire" for more than two
sessions.
With almost unanimous voice the mer-
chants of this country through their public
bodies have been petitioning Congress on
this subject for years and an equitable law
has been within the possibility of passage
on several occasions. The interests of the
entire country demand that our national
legislators now take final action on this
important subject.
Two weeks ago we referred to an affair
in which Messrs. Sohmer & Co. were con-
cerned. It is one of many illustrations
going to show how the merchants of this
country are suffering from the varying and
uncertain provisions of the assignment
laws of the different States. It proves how
necessary is a uniform bankruptcy law
which would not only prevent dishonest
merchants from repudiating their indebted-
ness, but would give freedom of action and
renewed energy to the honest but insolvent
debtor.
It is certainly strange that the present
order of things should obtain so long, not-
withstanding the persistent agitation and
demands of such representative bodies as
the Merchants' Exchanges and the National
Board of Trade. They have memorial-
ized, time and time again, but with that
peculiar disregard for the interests of the
business world which has lately been so
characteristic of Congress, its members
have pigeon-holed and postponed passage
of the bill from session to session, until pa-
tience has ceased to be a virtue.
THE REVIEW, in common with leading
trade publications in other industries, has
persistently advocated the enactment of this
law on the broad grounds of common good,
as being conducive to the best interests of
the mercantile community, and we trust
that the forthcoming Congress will at least
distinguish itself by passing this much de-
manded and much needed measure.
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Those irresponsible croakers who cannot
prevent the return of confidence and pros-
perity to this country, are now apparently
working with might and main to get up
some sort of a "war scare," but, fortunate-
ly, it looks as if their efforts will not be
successful. The active steps taken by
Secretary of War Lamont, and the leading-
papers to counteract the movement is time-
ly and commendable. Business is now the
order of the day; we have had enough of
rumors and scares for a long time to come.
The country wants a rest, a chance to build
up, to get its factories running and money
in circulation among the people. Every-
thing is moving nicely to that end, and will
move, provided every man puts his shoul-
der to the wheel and keeps it turning.
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William Steinway is being warmly
commended for his stand in the matter of
the appointment of commissioners to fill
two vacancies in the Rapid Transit Com-
mission. Mayor Strong and others favor
Messrs. Langdon and Rives, members of
the Union League Club, while Mr. Stein-
way and Comptroller Fitch desire practical
men like Abram S. Hewitt, whose experi-
ence as Mayor of this city would be of
great service.
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A good piano-maker—more, an original
piano-maker and developer as well—is Wil-
liam P. Haines, besides he has given incon-
trovertible evidence that he possesses all
the essentials which are embodied in the
composition of a logical, clear-headed busi-
ness man.