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THE MUSIC TRADE REVIEW
II
Wire Combination Effected.
Insolvency Bill Passed.
Trade Conditions Bright
FOURTEEN PLANTS ORGANIZE INTO ONE GREAT
COMPANY ABOUT TWENTY-FIVE PER CENT.
OF THE MANUFACTURERS REPRESENTED
WILL CONTROL AN OUTPUT OF
ABOUT SIXTY PER CENT.
IT IS DESIGNED TO PROTECT BOTH DEBTORS
AND CREDITORS.
THROUGHOUT THE WEST AND CANADA, SAYS
HERMAN LEONARD.
[Special to The Review.]
Chicago, III., March 21, 1!
The inability of all the firms engaged in the
manufacture of steel wire and wire nails, to
come together as expected under the form of
trust with a capitalization of $87,000,000, was
followed on Saturday by the formation and
incorporation of the American Steel & Wire
Co., which has been chartered in Illinois with
a capital stock of $24,000,000. One-half of
the stock is preferred and one-half common.
Fourteen plants will be controlled by the new
company, the production of which will be
about sixty percent, of the total output of the
country.
According to the list of officers and direc-
tors who have been chosen, the consolidated
steel and wire interests will exert consider-
able influence in the management of the new
company. The officers are J. W. Gates,
chairman; John Lambert, president; William
Edenborn, first vice-president; E. T. Schuler,
treasurer, and E. J. Buffington, secretary.
The general offices of the company will be in
Chicago, and it is expected that all arrange-
ments will be completed so that operations
may be commenced on April 3.
Its fourteen plants will be thus distribu-
ted: One at St. Louis, two at Joliet, three
at Cleveland, one at Beaver Falls, Pa.; one
at Pittsburg, Pa.; one at Allentown, Pa.; two
at De Kalb, 111.; one at Anderson, Ind.; one
at Salem, Ohio; one at Findlay, Ohio. In
addition it will have offices and warehouses in
San Francisco, Portland, New Orleans, Den-
ver, St. Paul, Louisville, Chicago, Cleveland,
Pittsburg, New York, Montreal, Canada and
London, England.
The new company will have a producing
capacity of about seven hundred thousand
tons of wire and wire rods, which will go into
the various products now made by them.
In the new combination about twenty-five
per cent, of the wire manufacturers of the
country are represented. Many noted con-
cerns in Massachusetts, Ohio and Pennsylva-
nia, who were formerly negotiating to enter
into the wire trust, have not joined the com-
bination and are operating individually.
The Conn Display.
The stock of the Conn musical emporium
is now better and bigger than ever. In the
window is a choice exhibit of great value, in-
cluding several of extraordinary merit. The
show cases are filled to repletion with Conn
products in silver and gold. The display is
peculiarly attractive. Mr. Conn is making
quite a lengthy stay at Elkhart.
Big Emerson Output.
The Emerson Piano Co., of Boston, are
now shipping more pianos each week than
they have for several years past. For the
past couple of months they averaged 225a
month. This is a potent and most gratifying
testimony to the popularity of the celebrated
Emerson,
[Special to The Review.]
Herman Leonard, the Dolge traveling West-
Albany, N. Y., March 22, 1898.
ern representative, returned early in the week
The Senate to-day passed the Nussbaum from a lengthy tour extending over two
Insolvency Bill. Some of the country sen- months, and was seen on Tuesday by The
ators opposed the measure because it com- Review at the Dolge warerooms. He is evi-
pels a debtor to pay at least fifty per cent, dently in good health and in good spirits.
of his debts before being released by his
Asked if the present condition of trade in
creditors.
the West appeared to him favorable, he re-
Senator Nussbaum- said the commercial plied: " Remarkably so. I have rarely had,
conditions of the country were due to the from my own point of view, a more pleasant
lack of protection afforded creditors. The experience. Firms and persons with whom I
vote of the bill was 28 to 7.
was brought into business contact report
The main objects of the bill are to provide commercial activity.
Orders were given
for an equal distribution of insolvents' estates freely, money is plentiful, and views con-
among their creditors, and to prevent the cerning the immediate future are hopeful."
preferences, fraudulent and otherwise, which
" T h e 'war scare,' then, did not appear
now attend nearly every failure in business. to affect their ideas of enterprise, Mr. Leon-
The Nussbaum bill is fashioned upon the ard? "
Massachusetts insolvency law, which has
" Not in the least, so far as I could see and
worked practically and to the satisfaction of hear."
both the insolvent debtor and creditor for
"What is the general trend of opinion in
more than fifty years.
the West concerning this country's attitude
No debtor can be forced into insolvency in the matter of the Maine disaster and Cuban
by any creditor unless a bond is given that independence, judging from your observa-
the creditor will fully indemnify the debtor if tion ?" asked The Review.
the petition should be denied. The bill is
" I should say that the conservative policy
particularly severe upon fraudulent entries in
of the administration meets with widespread
books and the fraudulent secretion of books
approval.
Responsible men are taking a
by failing debtors.
calm, dispassionate, business-like view of the
The bill also provides for a dischearg to situation. Speaking with me regarding the
the honest debtor who turns over all the probable outcome, many expressed an earnest
property which he had at the time of the fail- desire to see the whole matter peacefully set-
ure. The Judges of the Supreme Court in tled. They fully realize the mischief caused
the city of New York favor the bill, and it is to commercial interests when countries are in
also indorsed by the Credit Men's Associa- a state of war."
tion of the State of New York and the lead-
"You visited Canada?"
ing merchants of the State.
"Yes, and found business conditions favor-
able there. Canadians are deeply interested
The Value of Advertising
in the Cuban question. On all sides I heard
them saying that if trouble does ensue, they
FULLY RECOGNIZED BY GEORGE P. BENT-
will support the United States unhesitating-
HIS COMPILATION OF NOTICES BY
ly. Although they do not agree with us on
TRADE PAPERS.
the tariff question, they remark there are
Geo. P. Bent, the celebrated "Crown" other subjects on which they think as we do."
maker of Chicago, is sending out to the trade
"From what you say as to the present con-
the notices and comments made on his vari- dition of trade, it may be assumed that the
ous moves and products by the trade papers Dolge interests are advancing in the territory
within a recent period. They make an im- you have covered?"
posing " brief " for the "Crown" interests,
"Certainly they are. Dolge products are
and in this form should be productive of gaining ground continually in every branch
splendid results.
of each department in the West as elsewhere.
Geo. P. Bent appreciates the value of the They keep me continually busy.
trade press, and the trade press in return
"I shall start again in about ten days."
have been most liberal in their support of his
interests. This is evident from the amount
of literary matter compiled in the circular
which he has issued.
Piano manufacturers desire to engage
As an all round expert in the field of several good wholesale men to go on the
modern business advertising Geo. P. Bent road. Applicants should state age; married
takes a premier place. He understands or single; who with at the present time or
the value of advertising, and he has made it in last position and how long engaged; ter-
pay.
ritory covered and salary desired. Substan-
This, however, is not merely Mr. Bent's tial references required. Address, " X , "
experience, for all successful men of our time Review Office, 3 E. 14th St., New York.
admit that their progress is due as much to
advertising as to their own individual abili-
Wholesale Traveler
ties or the merits of their wares.
With 15 years experience desires position
with first-class house. Can give best ref-
The Wiley B. Allen Co., Portland, Ore., erences. Good connection East and West.
are doing a big trade in Krell and "Royal " All correspondence confidential. Address,
pianos.
"Traveler," Music Trade Rev., 3 E. 14th St.
Traveling Men Wanted.