Music Trade Review

Issue: 1896 Vol. 23 N. 6

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
IIIII
VOL XXIII.
N o . 6.
Published Every Saturday at 3 East Fourteenth Street. New York, August 29,1896.
In The West.
PIANOS AND ORGANS ASSESSED IN COOK COUNTY PIANO SHARPERS AT WORK IN ILLINOIS.
STRAUSS MUSIC CO. MAY SELL OUT DEATH OF CHAS. ROY BOWEN THE RUSSELL PIANO
CO.'S FAILURE HALLET & DAVIS CO.'s AFFAIRS ROTHSCHILD & CO. SELLING
PIANOS C. H. MACDONALD TO VISIT M'KINLEY VISITORS TO TOWN.
HE assessment of personal property in
Cook county for 1896 has been com-
pleted, and the books present an interest-
ing study. Among the personal belongings
assessed I notice the north town is credited
with 371 pianos valued at $25,995, and five
organs, worth $355; the south town with
1,987 pianos worth $74,400, and no organs,
while the west town assessor shows a total
of 2,356 pianos, valued at $60,330 and three
organs, listed at $70 for the three.
Piano sharpers are again putting in some
good work in the West judging from the
following, which I clip from a Blooming-
ton, 111., paper: Last Wednesday a man
claiming to represent the American Piano
and Organ Company of Chicago, called on
one of De Witt township's old and well-
to-do farmers and proposed to deliver a
$480 piano at his house, for the purpose of
an advertisement. He further agreed with
the farmer that he would allow him a com-
mission of $120 on each piano sold, until
four pianos were sold, and induced the
farmer to sign a supposed contract to that
effect. On Monday two other agents of the
company drove out ,to the farmer's resi-
dence with the piano, to fill the order the
farmer had given the agent, and also de-
manded $480 in payment of the same,
which sum the note called for.
It is rumored that the Strauss Music Co.
of this city are negotiating with the well-
known Rohlfing house of Milwaukee with
the object of selling out their interest. It
would not surprise me if the foregoing deal
materialized. The Rohlfing & Sons Co.
are a progressive institution, and the
opening of a branch house in this city
would be of great advantage to them.
The unexpected death, last Sunday, of
Chas. Roy Bowen, assistant treasurer of
the Hallet & Davis Co., was a great shock
to a wide circle of friends in this city. It
seems that Mr. Bowen was spending a few
days at Herbert, Mich., accompanied by
R. K. Maynard, Geo. C, Aldrich, and W. B.
Sizer, where the latter has a farm. On
T
Sunday Mr. Bowen and Mr. Aldrich went
in bathing and both were caught in an
undertow. When their distress was noticed,
a boat was put out, and Mr. Aldrich was
found in an almost exhausted condition,
while Mr. Bowen had disappeared. The
body was recovered on Monday. Mr. Bowen
was twenty-five years old and was one of
the original stockholders in the Hallet &
Davis Co. The funeral occurred on Wed-
nesday.
There is little new to report anent the
failure of the Russell Piano Co. The
affairs of the company are in a pretty bad
way and there is little hope of their resum-
ing business. Mr. Russell made a good
fight under most unfavorable conditions.
It appears that he was at the mercy of pri-
vate money lenders, who compelled him to
pay exorbitant interest. The creditors
held several meetings last week, and I
understand that Mr. Russell's dwelling at
Edgewater has been turned over as part of
the assets of the company.
The first report of t the assignee of the
Hallet & Davis Co., which was filed in the
County Court last week, shows that the
assignee has done some good work for the
first month. In spite of the hard times,
and the unusually warm weather, an en-
tirely satisfying showing was made which
testified to the sound condition of this con-
cern. The prospects for a resumption of
business are, I understand, very bright,
and matters to this end may be consum-
mated before many weeks.
Another department store is trying the
experiment of selling pianos at $124.99.
This time it is A. M. Rothschild & Co.
who have started in to fail in this field just
like a number of other department stores.
The musical department is under the man-
agement of a man named Hughes, who
hails from Columbus, O.
John W. Northrup, who has been rustica-
ting in Colorado Springs, returned to town
on Monday.
J. R. Mason, of the Sterling Co., passed
fi.oo PER YEAR-
GLE COPIES, IO CENTS
SING
through this city a few days ago on his
way West.
The Traveling Men's Association are
leaving on Friday night to visit Major
McKinley at Canton, O. Among the party
will be Chas. H. MacDonald, the "popular
Pease" representative.
Among the recent visitors to the city
were Alfred Schindler, general representa-
tive for the Marshall & Wendell Co.; Geo.
Cox, J. W. Martin & Co.'s manager,
Rochester, N. Y., and J. G. Ebersole of
Cincinnati.
A. G. Cone of the W. W. Kimball Co. is
spending a well merited vacation at Colo-
rado Springs.
Emerson Piano Co. Assign.
LIABILITIES $150,000
ASSETS THREE TIMES
THAT AMOUNT.
N Tuesday last, Aug. 25th, the Emer-
son Piano Co., of Boston, made an
assignment to Chas. Terry, James F. Pow-
ers and Jesse F. Wheeler. The assets of
the company are unofficially estimated at
$450,000, while the direct liabilities approx-
imate $150,000.
In the official statement given out it is
stated that the assignment was caused by
the generally depressed state of the trade,
and the stringency in the money market.
The Emerson house dates away back to
1849, when the business was founded by
Wm. P. Emerson. In May, 1879, the name,
good will, stock and machinery was pur-
chased by the present proprietors, Patrick
H. Powers, Orrin A. Kimball and Joseph
Gramer, and has been conducted as a part-
nership and not as an incorporated com-
pany.
In 1891 they erected their magnificent
factory on Harrison avenue and Waltham
street, which has a capacity of 150 pianos
a week. Retail vvarerooms have been main-
tained at 116 Boylston street and branch
stores at 218 Wabash avenue, Chicago, and
92 Fifth avenue, this city.
A meeting of the creditors will be held
as soon as the assignees are able to make
their report.
O
YOHN BROS., piano dealers, of Harris-
burg, Pa., were in New York the middle
of the week.
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW.
- ^ • E D W A R D LVMAN
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 0 special dis-
count i« 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.
NEW YORK, AUGUST 29, 1896
TELEPHONE NUMBER 1745. — EIGHTEENTH STREET.
"THE BUSINESS MAN'S PAPER."
I
N another part of this paper we present a
letter written by Mr. O. W. Gleason,
who takes issue with us in our advocacy of
the maintenance of the gold standard. We
shall print any correspondence which may
be sent us anent "the battle of the stand-
ards." We believe in a full, fair argument
of the dominating question in American
politico-financial affairs to-day. If we oc-
cupy a position which under the light of
argument and reason shall be proven to be
false and untenable then we shall be willing
to admit that our views at present enter-
tained are incorrect.
But until we have acquired the necessary
knowledge we shall hold to the belief that
the Republic of Washington, of Lincoln,
should not adopt the money standard of
Mexico and of Siam.
We claim that the advocates of silver are
not bimetalists but monometalists. They
know that with unlimited coinage of silver
all gold must be driven out of the country.
That means in itself would provide all the
gold necessary for the gold standard coun-
tries of Europe, together with the annual
product of the American gold mines, thus
postponing indefinitely the possible bime-
tallic arrangement between the civilized
nations of the world. Jefferson, whom the
silver men frequently quote, wrote that sil-
ver, owing to its peculiar fluctuating quali-
ties, must be best regulated as circulating
money medium by the action taken regard-
ing its value by the great nations of the
earth.
Now what we object to is that the silver
party wish to force, by legislative enact-
ment, silver to a value not recognized by
the great commercial nations of the world.
In the days of Jefferson silver was mined
about in the proportion of 15^4 to 1, but
since that time silver has been mined in
such quantities that its value measured by
gold has descended to about 3i/4 toi. Our
friends object to the gold measurement,
claiming that it is an appreciating metal.
We claim that there can be but one stand-
ard, and that as gold has stood the test of
centuries, it so will stand until some metal
more rare—if ever discovered—shall take
its place. We claim that a standard once
established cannot be changed without in-
calculable loss accruing thereby. All of our
commercial dealings having once conformed
to it, can not be shifted as the weather
vane. Might as well change the unit of
measure. Suppose tailors should suddenly
change their yard measure to 30 inches.
A number of misfits would result, and sup-
pose that they should continue to make
changes, or in other words, have no stand-
ard of measure. We claim that the silver
men wish us to accept in place of a stand-
ard which has stood the test of centuries, a
standard which has no stability in the great
marts of trade. If by legislation we can
settle the currency matter, without paying
heed to economic laws governing supply
and demand, then we say that the silver
men have solved the greatest problem of
this or any other age. But let us ask if it
is well to discard that which has withstood
the test of ages for the visionary panacea
offered by the silver enthusiasts.
We do not believe while maintaining our
views, it is necessary to insult the intelli-
gence or the honesty of the men who are
sincere believers in the Bryanic doctrine.
While we most emphatically condemn the
mouthing Tillman and the blatant Altgeld,
whom we consider political demagogues of
the most violent types, yet we must admit
the right of every man to follow the course
which he himself believes presages the
greatest future for the upbuilding of Ameri-
can interests. But let us ask our silver
readers to name one country in the world
which is on a silver basis wherein prosper-
ity reigns and industrial or agricultural in-
terests are on a par with those of the gold
standard countries? Is it well to discard a
fact for a theory, however alluring the the-
ory ?
#
#
Another old and distinguished house
has fallen a victim to the monetary strin-
gency and curtailment of credits which has
been caused by the present financial agita-
tion. The assignment of the Emerson Pi-
ano Co., as reported elsewhere, will occa-
sion sincere sympathy and regret.
The individual members of the firm are
careful and competent business men, who
command the unbounded respect of the
entire trade. They have managed the
affairs of the firm in a capable and, as was
necessary, conservative manner during
these trying times. Meanwhile their en-
deavors to tide safely over the period of
depression was interfered with, as in sev-
eral other instances, by the action of cer-
tain banks in curtailing credits and dis-
counts, without which the most prosperous
business cannot be conducted.
The healthy condition of the firm can be
estimated from the financial statement,
which, although unofficial, is sufficient to
indicate that there can be no question as
to a resumption of business at an early
date.
Of course, at this writing, it is impos-
sible to predict what action the creditors
may take, but it is safe to assume that a
sensible course of procedure will be adopted
which will allow the Emerson Co. a fair
opportunity of again being a factor in
the trade.
Business men of all shades of opinion
must admit that extraordinary conditions
now prevail in the business world. The
banks as well as private individuals seem to
have "lost their heads" to some extent, and
a feeling of distrust and uncertainty, which
is not altogether well founded, has resulted
almost in a paralysis of business. When
merchants cannot get accommodation ex-
cept on "call loans" it is not an easy matter
to engineer commercial institutions in
these troublesome times.
When a calamity occurs which cannot
be averted^ by human endeavor it is hardly
proper for outsiders unacquainted with the
facts to criticise and preach about what
' 'might be done.'' The better plan is to hold
out the hand of encouragement and hope.
The clouds of adversity which are now
darkening the business horizon of this
country are bound to be dissipated before

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