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THE MUSIC TRADE REVIEW
portation over a wide extent of territory.
liaines-Gorham Case Again.
The conditions were all favorable for big
[Special to The Review.]
profits and a continued increase in the
Worcester, Mass., Oct. 11, 1897.
power and wealth of the corporation. In
The complicated case of the Moui.t Mor-
spite of all this we have the result in bank- ris Bank vs. Charles L. Gorham et al.,
ruptcy and receivers in charge of the com- which was heard at length in the Superior
Court, with other cases, some time ago,
pany's affairs.
came up for argument Saturday before the
This paper goes on to show that there full bench of the Supreme Judicial Court.
has been no unfavorable influences at work The defendants are C. L. Goiham and his
or no great disasters to destroy its property sister, who took no active part in the busi-
and hence the only possible explanation ness. They were retail music and piano
for the result must be found in the faults dealers. For several years Mr. Gorham
I notice that the authorities now agree
has been in poor health, and Charles A.
or blunders in the management.
Williams, in his employ, had power to buy in putting the yield of wheat about 580,-
The later management lost sight of the and sell, goods, and was in charge of the 000,000 to 590,000,000 bushels, which is
fact that capital is useful only as an in- store. His authority as to financial trans- nearly 200,000,000 bushels more than will
strument or tool when controlled by brains, actions was defined in a power of attorney, be required for home use.
Let me see; that means two hundred
and branched out into new ventures in dated January 8, 1896, which replaced one
million gold dollars clear in the pockets of
more
limited
in
its
scope.
The
business
companies in competition with the old and
had been conducted by Mr. Gorham with- the farmers which must in due course
powerful corporations in these lines. out the giving of any notes or drafts, ex- percolate through the various arteries of
There was no trouble about capital as the cept that he knew that drafts at sight or trade—even into the piano industry. This
credit of the old road stood so high that on one or two days' time were paid at his is cheering. All now needed is patience.
the public were eager to take the new bank and charged to his account, without The golden chariot is rolling our way, and
stocks or bonds offered. The management acceptance. Twice in 1889 and twice in our turn will come.
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had the money but lacked the business 1890 Mr. Gorham accepted such a draft.
A manufacturer said to me recently,
The action now pending is to recover a
ability to use it.
draft for $600, signed by Haines & Co. "There is really too much talk about
The result was a collapse as inevitable Across the face of the draft was written an prosperity, it is time enough to talk on the
as must come to any dealer in the music acceptance signed by C. L. Gorham & Co., subject when we are sure it is here." Now
I cannot agree with this feeling. In my
trade, be he great or small, for the same p. p. a. Charles A. Williams.
opinion
too much cannot be said about
The
defendant
purchased
pianos
from
reasons.
prosperity's
advent. The country has been
Haines & Co., the endorsers of the draft,
so
surfeited
with the "hard times" cry
who discounted the draft at the plaintiff
The Steck in Cincinnati.
that
persistent
reiteration of a change for
bank. It is claimed that Haines & Co. and
the
better
is
almost
necessary to impress
ILSEN & CO. WILL HANDLE THE STECK AS the plaintiff were justified in assuming
LEADER IN THEIR NEW PIANO WAREROOMS
on
a
certain
class
of
business men that a
that Williams had authority to sign the ac-
A DEAL WHICH SHOULD BE OF
new
order
of
things
has
materialized, and
ceptances as defendant. In August, 1896,
MUTUAL BENEFIT.
that
if
they
wish
to
recover
lost ground—
the drafts in question went to protest. It
to
be
in
the
race—they
"have
got to get
An important deal was consummated a was then that Gorham learned that Wil-
up
and
hustle,"—pretty
lively
too.
few days ago whereby the agency for the liams, acting in concert with Haines of
*
*
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celebrated Steck piano in Cincinnati, O., New York, had for several years issued
It
is
as
certain
as
day
follows night that
was transferred from the Hockett-Pun- large amounts of drafts for Haines' accom-
there
must
be
something
radically wrong
tenney Co. to Ilsen & Co., the well-known modation. The issuing of this paper was
if
a
piano
or
organ
manufacturer
fails to
music publishers and importers, who will not reported to Mr. Gorham and was not
find
a
substantial
augmentation
in
his
busi-
open up a magnificent piano emporium at entered on his books. Mr. Gorham testi-
ness
these
days.
There
must
be
a
cause.
25-27 West Sixth street. Around the end fied that he knew nothing about the pay-
What is it? Lack of system—inability
of the month, a formal "opening" will ment of these drafts by Williams until just
to
enter into the competitive battle—failure
take place.
before the suit was brought.
to
meet the demands for improved tonal
George Ilsen, head of the company, is
At the trial the plaintiff requested the
quality
and pleasing architecture—unne-
well and favorably known in musical cir- court to instruct that every agent possesses
cessary
conservatism
in advertising—per-
cles in Cincinnati and vicinity. He is a the authority which the principal holds
petuation
of
antiquated
methods' etc. ?
capable and energetic business man, and out as possessing, and apparent authority
Whatever
it
may
be,
the
root
of the evil
under his management we look for some should be regarded as well as real author-
should
be
sought
for
and
removed.
splendid results for the Steck piano in the ity. A long list of other requests was sub-
Business should and can be secured in
Queen City.
mitted by the plaintiff for the court to in-
face
of the fact that failures were the
Geo. Steck & Co. are now preparing a struct on. They related in the main to the
smallest
ever known in any quarter since
shipment of various styles of instruments authority of an agent. Authorities were
1892,
and
business payments through banks
to be forwarded to Cincinnati the coming quoted at length in regard to the duties
the
largest
by $268,000,000 ever known in
week.
and responsibilities of an agent. Decision
September.
Another significant fact is
New Music Store Contemplated. not rendered at time of writing.
that the week's exchanges are 8.8 per cent,
larger than in 1892.
[Special to The Review.l
Amie with Waldorf Co.
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Minneapolis, Minn., Oct. 11, 1897.
With
the
advent
of
fall
the piano houses
J.
C.
Amie,
for
some
time
past
on
the
Unless plans now projected be delayed
are
commencing
to
branch
out in the mat-
staff
of
Music
Trades,
has
resigned
to
accept
or abandoned, a new music house will open
ter
of
retail
advertising
in
the
local papers.
a
position
as
traveling
representative
with
up here before many weeks, engineered by
Chickering
&
Sons'
up-to-date
and thor-
the
Waldorf
Piano
Co.
Mr.
Amie,
who
is
wide-awake men and backed by plenty of
oughly
effective
advertising
in
which
the
a
competent
musician,
has
made
many
capital. The location selected is the old
celebrated
Chickering
piano
is
termed
"the
friends
among
the
piano
manufacturers,
Castle warerooms, on Nicollet avenue. I
am not at liberty to give the names of the and will start on his new work with many oldest in America, the best in the world,'
parties interested, but developments will be good wishes for success and a prosperous is now pretty familiar to the public.
The following Steinway announcement,
forthcoming within the next few days.
career.