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THE MUSIC TRADE REVIEW
Those who join a trust virtually become
the multiplicity and enormity of expenses
connected with separate institutions are stockholders with the bankers in that or-
ganization to the extent of their assets
completely done away with.
This is one great point in favor of so- which will have been critically passed upon
by a competent board of experts. The
called trusts.
management of the whole is usually vested
Years
ago
when
trusts
were
first
talked
LYMAN
Editor and Proprietor.
about, when industries and products began in a directorate of men who are selected for
to
concentrate in the hands of a few who their especial fitness for certain branches
PUBLISHED EVERY SATURDAY
controlled great aggregations of capital, it of the business, and not on account of any
3 East 14th St., New York
was claimed that the small dealer would be family affiliations or influences.
SUBSCRIPTION (Including: postage) United States and
entirely eliminated from business.
Trusts are cold-blooded and are con-
Canada, $3.00 per year; Foreign Countries, $4.00.
ADVERTISEMENTS, $3.00 per inch, single column, per
History has not proven that, neither has trolled by brainy men, all the useless ap-
tnaartion. On quarterly or yearly contracts a special dia*
aoant is allowed.
there been an advance in prices.
pendages in the shape of non-producers
REMITTANCES, in other than currency form, should
to aaade payable to Edward Lyman BilL
Take the Standard Oil Trust, which has being stricken off.
It cannot be successfully disputed but
MmUrtdmtikt Jftm Ytrk first Cffic* as Second-Oass limttm. really absorbed all the lesser corporations
of the country, the consumer to-day pur- that the trust principle is gaining ground.
NEW YORK, NOVEnBER 20, 1897.
chases his oil at a less price than when the It is the outcome of our modern industrial
TELEPHONE NUrtBER. 1745.--EK1HTEENTH STREET.
trade was disorganized, and is assured of conditions, and men from all the walks of
THE KEYNOTE.
a certain standard of value which was not life, from manufacturers, from the bench
The first week of each month, The Review always found in the old days.
and bar, from the inner councils of the
wHl contain a supplement embodying the liter-
The
subject
is
not
a
new
one
in
the
Government, from the great institutions of
ary and musical features which have heretofore
appeared in The Keynote. This amalgamation piano trade, and it has been a matter of learning everywhere, are becoming con-
will be effected without in any way trespassing;
on our regular news service. The Review will much consideration in the minds of some verts to the trust belief.
continue to remain, as before, essentially a trade of the most distinguished men of our in-
Noting the strong tendency to great com-
paper.
dustry for some years past. It is held that binations, we are impelled to ask, Is this
the same laws which are operative in all struggle against plutocracy hopeless?
THE TRADE DIRECTORY.
other
industrial lines would operate suc-
Is there no way to check the onward
The Trade Directory, which is a feature of
The Review each month, is complete. In it ap- cessfully in the piano trade to the advan- march of the trust Juggernaut ?
pear the names and addresses of all firms en-
It is a question, too, whether a trust in
gaged In the manufacture of musical instruments tage of the manufacturer. In favor of the
and the allied trades. The Review is sent to trust idea it is claimed, and justly we the piano trade is a possibility. There
the United States Consulates throughout the think, that in no other line of business
are many who do not believe in its success,
world, and is on file in the reading rooms of the
are the expenses of manufacturing and claiming that the piano is an instrument
principal hotels in America.
marketing a product so great as in this which possesses certain individuality and
THE PIANO TRUST-
very self-same piano industry.
cannot be sold in the same manner as oil,
T has been known by us that for some
It is alleged by some of the promoters sugar and gas. However, be that as it
time a tentative syndicate, which may of the trust that such a multiplicity and may, the trust idea is gaining ground in
soon become a corporate body, composed diversity of expenses will be annihilated, the piano trade, and it should be fully un-
of some of the leading men in the financial business will be conducted at a tremen- derstood that some of the capitalists be-
world, has been quietly at work ascer- dous saving, hence a fair profit would hind it are men who figure high in inter-
taining the views of the members of the naturally accrue to those who hold stock in national financial circles. It is not com-
piano trade regarding the formation of a the syndicate—and syndicate, perhaps, posed of moneyless promoters or legal
piano trust. As there is no especial con- would be a better word to use, as the word schemers. The matter has been figured
cealment necessary, or even desired, re- trust is objectionable to many, yet it is out carefully, systematically, and is the
garding the movements of these gentle- the commonly accepted term by which outgrowth of years of study. As to its
men, the matter may as well be discussed. these great financial organizations are des- success, of course that is problematical.
In the first place, the word "trust" as ignated. The stock of the piano syndicate
*
*
•
*
applied to organization is much misunder- is placed at $50,000,000.
There is one matter in connection with
stood and often misapplied in its mean-
It is understood that a number of lead- this piano trust idea which we cannot help
ing. It is in the truest sense an aggrega- ing piano manufacturers both East and referring to at this time. It seems that
tion of brains and capital, which necessar- West, who have considered the matter at Marc A. Blumenberg, editor of the Musi-
ily insure the easy, rapid and safe conduct length, have decided to take stock in the cal Courier Trade Extra, has been giving
of business on gigantic lines, eliminating syndicate. There are many others hold- out the idea that he was a sort of envoy
many of the objectionable features which ing out who believe more advantageous extraordinary of those interested in the
are noticeable in modern business methods terms will be offered them. Others, too, proposition.
Further, not only Mr.
and transactions.
Blumenberg
but
members of his staff have
who are wholly opposed to the idea of a
We refer particularly to the cutting and trust do not propose sinking their individ- not been inactive in disseminating that
slashing of prices—of bringing competition uality in that manner. Some, too, have impression.
down to the point where the manufacturer the idea that by placing a certain
There never was any more misleading
is actually doing business at a loss. Com- valuation upon their assets that the trust or fallacious idea given out concerning
bination in the syndicate or trust form pre- will immediately pay to them a sum of any business than that he has any-
vents this, and the retail purchaser is as- money to cover the purchase price.
thing to do officially with the syndicate of
sured of excellent value, because by the
This latter belief is not in accordance bankers who are interesting themselves in
concentration of business into great lines with the trust idea.
the piano trade; nothing more than any
I