Music Trade Review

Issue: 1897 Vol. 24 N. 5

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
realized, when I saw the boot bend upward,
the appropriateness of his remark when he en-
tered. How that boot did hump!
I learn that there was a big fire in Syracuse
last night, and that the piano stock of Leiter
Bros, and W. W. Kimball Co. was completely
destroyed. I will send particulars later.
The " Everett" Piano in New York.
The superbly handsome new Everett build-
ing is rapidly approaching completion, and it
is probable that before our next issue a fine
consignment of the Everett instruments will
be safely ensconced within the precincts of
the new Everett home on Fifth Avenue.
Jt is not always wise to prognosticate, but,
if best wishes go for anything, the John
Church Co.'s metropolitan departure is al-
ready an assured success.
We will not dilate on the magnificent repu-
tation of the Cincinnati house; the officers are
so well known to the trade that eulogy seems
almost out of place.
Suffice it to say that President Frank Lee
is undeniably one of the very foremost men
in the American music trade, and has given
added proof of his perspicuity by placing A.
M. Wright in full charge of the Eastern
branch.
Knowing Mr. Wright as we do, we are
fully aware that personal reference is not only
undesired, but distasteful. We, nevertheless,
are of the opinion that in engaging his ser-
vices as manager, the John Church Company
have secured a gentleman of spotless reputa-
tion, of magnificent energy, possessing all the
qualifications essential to the proper conduct-
ing of large business interests—a man who
will not only think but work, and who can
safely be relied upon to steer the ship of state
into safe waters.
Duty on Pianos Should be Cut Down.
W.
H. JOHNSON SPEAKS FOR THE DEALERS
GRAND PIANO TRADE INJURED /EOLIANS
AT TWENTY PER CENT TARIFF.
The commission appointed by the Canadi-
an Government to inquire into the work-
ing of the tariff laws in that country, with the
object of reducing present duties, held a .ses-
sion in Halifax, N. S., last Saturday. Among
those who appeared before the commissioners
was W. H. Johnson, of the W. H. Johnson
piano company, who spoke on behalf of the
piano dealers of the country. He said that the
average Canadian piano compares favorably
with any other. Fie thought the tariff should
be dealt with cautiously, and, while a believer
in a moderate amount of protection, he was
not in favor of prohibition. The duty on
" actions " should be reduced, and at the same
time the duty on pianos should be cut down,
as it was high in proportion. Imported grand
pianos have been almost driven from the mar-
ket, while as yet Canadian firms have hardly
attempted their manufacture. He asked that
the duty on /Eolians, which the commission-
ers seemed to know little about, should be ad-
mitted at a 20 per cent, tariff.
PERTINENT COMMENTS
UPON TIMELY TOPICS OF GENERAL IN-
TEREST TO THE TRADE BY WRITERS IN
OUR EXCHANGES.
MODERN BUSINESS METHODS—Points Worth Con-
sidering.
To successfully conduct any business vent-
ure is daily becoming more a work of the head
and less of the hands. By this we mean that
the one who is in charge of an enterprise, of
even moderate proportions, can usually de-
vote his time to better advantage by a careful
scrutiny of his business methods and a fre-
quent revision of the same than by taking a
too active a part in the mechanical work, or
what might be called the mere details. That
man is to be pined who does not deem it nec-
essary to spend a portion of his time in search-
ing out the why and the wherefore of other
men's successes and failures. Yet there are a
number of men in every line of work who re-
fuse to put such assignments on their daily
programme.
May it not be attributed to this that there
are so many cases where a business is con-
ducted successfully for a few years and then a
retrogression sets in which ultimately results
in failure? Perhaps clerks or employees leave
a position, having saved a few hundred dollars,
and in ten or fifteen years own a stock, store,
building, or perchance a factory. Then follow
a few years of apparent prosperity, culminat-
ing in sudden collapse. Was it owing to too
much conservatism or a contrary course? asks
" Facts." Undoubtedly, in many cases, the
error is directly traceable to a lack of keeping
in sympathy with the trade in general and in
touch with the new methods. In other words,
the manufacturer or merchant gets an idea
that he knows everything worth knowing in
regard to the industry in which he is engaged.
He looks with derision upon innovations and
with suspicion upon those who inaugurate
them. Quite likely he reaches a point where
he says to himself that he knows more than
the writers in the trade press, and conse-
quently has no use for such journals. Prog-
ress goes on, however, and does so in spite of
the fact that he shuts his eyes and ears to it.
That is why younger and more progressive
firms are constantly displacing older ones.
At the same time it is gratifying to know that
ther are many striking illustrations where
there is continued development in the proper
direction, until it is truly amazing to learn
how much valuable information the house has
acquired in the rigid school of business ex-
perience, and what an enviable and strong
position it is enabled to hold in consequence
thereof.
EXPANSION OF CREDITS-What they Result in.
Ask any business man as to the cause of
panics and he will, in nine cases out of ten,
promptly respond that it is due to the loss of
confidence. While this may be the last visible
link broken in the chain of business, it is not
the prime cause by a long way. The real
trouble lies in the immense expansion of cred-
its, and if such were not the case lack of con-
fidence would not create a panic.
The immense extent of credits given by the
business men of this country is partially
shown by the amount of bank loans and dis-
counts, which at any particular time in this
country is nearly three billion dollars. This
means that there is that much expansion of
credits over and above the actual capital in-
vested in business. Is it any wonder that
when times are such as to cause a lack of con-
fidence that a panic should result? When
there are so many doing business upon bor-
rowed money instead of money of their own,
and when their margins of assets above lia-
bilities are so small, any decline in prices or
losses by bad debts takes away all their mar-
gin of profits and leaves them really in an in-
solvent condition.
It is easy to state that all that is necessary
to prevent panics is to prevent a loss of con-
fidence. But how to prevent a loss of confi-
dence when the business men of the country
know that a large share of the business done
is purely on borrowed capital is not an easy
thing to do. The experience of '93 and of the
past year shows that if one creditor begins
to press another, and the pressure is continued
around the circle, there may be a whole chain
of failures on account of inability to pay upon
demand. This is what causes a general pros-
tration of business.
The great expansion of credits causes an
extreme sensitiveness in business conditions,
which is quickly affected by adverse reports
on crops, or by an importation or exportation
of a few million of dollars in gold or by news
of a war scare. Any of these things is suffi-
cient to put business into a state of perturba-
tion.
How different things would be if the business
of the country was really transacted on a credit
proportioned to the actual capital involved,
says the Dry Goods " Reporter." Then there
would be no particular danger from loss of
confidence, for every dealer would feel com-
paratively sure that he would be able to meet
the demands made upon him. The man with
a hundred dollar capital who is doing a mill-
ion dollar business is the one who is always
afraid of this loss of confidence. The man
with an abundance of capital for the amount
of business he is doing need not worry about
such a condition of things, for he is conducting
his business on a stable basis. Just so long as
the business men of this country expand their
credits so enormously, just so long will there
come these periodical panics. The history of
the past shows this to be the case, and experi-
ence also shows with every revival of good
times there is a still greater increase in the
expansion of credits, so that the day of reck-
oning must come the sooner.
There is no legislation that we know of
which can affect the real condition of things,
but it must rest with the business men of the
country themselves whether they shall con-
duct business on a stable basis or on one of
expansion, with the consequent loss of con-
fidence and its resultant panic.
AVERAGES TO BUSINESS—Application of the Law.
The average man comes to business about
the same time every morning, pursues the
same routine during the day, and finishes his
work at the same hour. The causes which last
year actuated him to put forth greater effort
during the busy season are most likely present
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
this year and lead to a like result upon his men-
tal and physical make-up. Because he has
been pursuing certain methods for a series of
years, although' they may not have led to the
most desirable results, is a powerful incentive
to him to continue them.
Those who are willing to subject themselves
to the necessary discipline to rise above the
average are the ones who become known as
great manufacturers and merchants, or as ex-
celling' in whatever other vocation to which
they may devote their attention, is the opinion
of an authority. It requires, undoubtedly,
more than average effort, and when they enter
into this upper sphere they find themselves in
a considerable measure isolated. If they ask
advice, they are almost certain to receive an
" average " answer. They must also be will-
ing to endure sharp criticism from those who,
laboring on a lower plane, cannot understand
the reasons which actuate them in the course
they pursue.
It is worth noting, however, that he who
comes up to a fair average in his achievements
has undoubtedly considerable cause for feel-
ing at least a reasonable degree of satisfaction.
CREDIT—Is it too Cheap ?
When a manufacturer can fail with liabili-
ties thirty-three times his entire possessions,
and when a dealer can, by an investment of
less than $40,000, obtain goods to the value of
over half a million dollars, it would certainly
seem that credit is entirely too cheap, and
that the course pursued by the creditor is al-
most inevitably suicidal. .
The retail dealers, as a rule, can easily ob-
tain on credit five times as many goods as they
can pay for. There are so many manufact-
urers who are anxious for a larger trade that
a goodly proportion of them will tumble over
each other in their endeavor to book an order.
We recently heard of a manufacturer, says the
" Recorder," who took and rilled orders on
what, with dating ahead and time for payment,
amounted to seventeen months' credit. No
reliable house needs such extended time in
which to pay its bills, and no manufacturer is
justified in extending such a credit.
And the same thing pertains to the supplies
furnished the manufacturer, who frequently
gets much greater credit than he is entitled to
on his financial standing and ability.
A. H. Stuart & Co., of Boston, Mass., an-
nounce that A. E. Pennell has become asso-
ciated with them in the manufacture and sale
of the Stuart piano. He will have charge of
the wholesale trade for New England. Mr.
Pennell formerly represented the interests of
the Estey Organ Co.
William Bell, of the Bell Organ Co.,
Cuelph', Ont, was probably fatally injured
while returning to his home in Toronto last
week. He was found lving unconscious near
the railway track near Guelph, with severe
wounds on his head.
The Montelius Piano Co., Denver. Col.,
are having a big demand for the Huntington
pianos. They are booming them right mer-
rilv in the local papers and sending in sub-
stantial orders to the Huntington people at
Shelton, Conn.
Gleanings at the Golden Gate.
THE STEINWAY EFFECTIVELY ADVERTISED
REMOVES TEMPORARILY
KEENE
MAUZY IN THE EAST
THE WHEELOCK AGENTS MOVE TO
LARGER QUARTERS
THE MUSIC
TRADE INDUSTRY IN
SAN FRANCISCO.
San Francisco, January 22, 1897.
The town has been music-mad this week;
at least, so one might judge from the crowded
houses and unstinted enthusiasm which have
greeted Mine. Lillian Nordica and her goodly
company. They appeared in four concerts
and carried the town by storm. Messrs. Sher-
man, Clay & Co., always with an eye to the
opportunity, took advantage of the use of the
Steinway piano in these concerts to do some
effective advertising for that instrument in
the leading daily papers.
An evidence of the revival of interest in mu-
sical matters is found in the promised organi-
zation of the San Francisco Symphony Soci-
ety, practically a reorganization of the old
Philharmonic Society. There are already up-
ward of one hundred members in the societv,
and an orchestra of fifty-five pieces. Gustav
Hinrichs has been chosen conductor, and
Sig. Beel will be concert master. This might
be changed should Fritz Scheel return, as is
rumored. A series of six musical entertain-
ments are planned to be given at the Columbia
Theatre,
C. C. Keene, one of the oldest dealers in
small goods in the city, has temporarily moved
from his stand in the Nucleus Building to 58
Third Street. The building is being remod-
elled, and when the work is completed Mr.
Keene will return.
Byron Mauzy left for New York last Sun-
day on a three-weeks' business trip. The
Sohmer piano is to be used February 3d at a
concert to be given in the Y. M. C. A. audi-
torium to Prof. James Hamilton Howe by the
San Francisco Oratorio Society.
A young man, representing to be a son of
Liebes, the cloak merchant, succeeded in de-
ceiving Manager Stedman, of the Zeno Mau-
vais Co., and secured two mandolins without
paying for them. Mr. Stedman discovered
the fraud after the fellow had pawned the in-
struments, and at this writing the case is be-
ing tried in the police courts.
The Zeno Mauvais Co. has a new march
by Merzbach in press. It is named Zadeeka,
and is said to be a fine composition.
A paper at Dunsmuir, Cal., announces the
arrival of R. Madsen, representing Sherman,
Clay & Co., in that place, and says that he
sold four pianos.
The Girard Piano Co., in Oakland, Cal.,
agents for the Wheelock pianos, have moved
from the Central Bank Building to 11x2
Broadway.
A recently published review of San Fran-
cisco's industries says that piano and organ
making has attracted considerable attention
during the last few years, and the annual pro-
duct constitutes quite a factor in San Fran-
cisco manufactures. Much of the work in
piano-making is in putting together the parts
made elsewhere. The first piano made in
San Francisco was a six-octave square by
ii
Jacob Zech, in 1856, and the first upright was
made in 1865 by G. Rudolph. In 1870 there
were five local makers, and the number has
increased since that time. C. Stencke is stated
to have been the first maker of violins and gui-
tars. The industry at present employs sev-
eral hundred men, and San Francisco made
pianos find a ready market all over the Pacific
Coast.
Leiter Bros, and W. W. Kimball
Co. Burned Out.
DESTRUCTIVE FIRE AT SYRACUSE CLEANS OUT THE
PIANO STOCK OF TWO WELL-KNOWN FIRMS.
Syracuse, N. Y., January 26, 1897.
On the site of the Dillaye and Vann block,
in South Salina Street, between the Butler
and Pine blocks, one of the oldest business
centres of Syracuse, is a smoldering mass of
fuins, the result of the most serious conflagra-
tion that this city has witnessed in the past
six years. At 7:05 o'clock last evening
fire broke out in the New York cloak house
and before midnight fully $250,000 damage
had been done. The old Pike block, a land-
mark of Syracuse, with its dingy halls and
narrow stairways, is also badly damaged by
fire and water, while the Butler block at the
south also suffered a considerable loss. Thou-
sands and thousands of dollars' worth of prop-
erty were consumed, and the year of 1897 will
be marked for having one of the largest fires
in the history of Syracuse.
What was at first supposed to be but a small
blaze soon arose to the size of a mountain, and
in a few small hours had left destruction and
ruin in its trail. The W. W. Kimball Co.'s
store, with its valuable stock of musical in-
struments, Leiter Bros.' jewelry and music
store, and a host of others were totally de-
stroyed or fearfully damaged by the fire of
last night. Persons living above the business
places were turned homeless into the streets
and stood sorrowfully by to watch the de-
struction of their homes. How the blaze first
started is unknown, but it is thought it orig-
inated from the large dynamo in the cellar
of the New York cloak house.
The loss to the W. W. Kimball Company
will be heavy, as the entire stock, consisting
of organs, pianos, and musical instruments,
were consumed. The exact valuation of the
property and amount of insurance and loss
could not be ascertained last light, owing to
the absence in Chicago of William D. Crane,
who acts as agent for the companv. Leiter
Bros.' loss will likewise be heavy. The stock
was valued at $so,ooo or $60,000, and was in-
sured in several companies for about $30,000.
Frank X). Glcason, who suffered the loss of
the fingers of one of his hands while in the
emplov of F. G. Smith, in his case factory at
Leominster, Mass., has brought suit for dam-
ages against Mr. Smith on the ground that
the machine was not properly guarded.
The McCammon Piano Co., Oneonta,
N. Y., held their annual meeting on January
nth, when the old officers and directors were
re-elected.
, . . .
.—*J

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