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THE MUSIC TRADE REVIEW
the other day: "Mr. Scanlan has in prop-
erty, seven dollars for every one that he
owes, but the attitude of the banks of late
has been such that the relief sought for
has been offered under conditions which
render that relief a trifle more difficult to
~-*~EDWARD LYMAN
accept than the present condition would
Editor and Proprietor
seem to warrant. In other words, the cure
PUBLISHED EVERY SATURDAY
is worse than the disease." Thomas F.
3 East 14th St., New York
Scanlan has on occasions in the past, dem-
SUBSCRIPTION (including postage), United States,
onstrated his ability to successfully meet
Mexico and Canada, $2^00 per year ; all other countries,
$300.
the
emergencies incident to the vicissi-
ADVERTISEHENTS, $2.00 per inch, single column, per
insertion. On quarterly or yearly contracts a special dis-
tudes of business, and with assets so en-
count is allowed. Advertising Pages $50.00, opposite read-
ing matter $75.00.
ormously in excess of liabilities, there
REMITTANCES, in other than currency form, should
be made payable to Edward Lyman Bill.
seems to be no good reason why there
Entered at the 2Vew York Post Office as Second Class Matter.
should be the slightest alarm or anxiety
NEW YORK, JUNE 25, 1898.
regarding his ability to pay in full all of
his
outstanding liabilities and have a hand-
TELEPHONE NUMBER, I745--EIGHTEENTH SIREET.
some surplus remaining.
THE KEYNOTE.
The great trouble has been that banks
The first week of each month, The Review will
contain a supplement embodying the literary
have looked with marked indifference up-
and musical features which have heretofore
on piano paper of late; not only upon
appeared in The Keynote. This amalgamation
will be effected without in any way trespassing
piano paper, but they have been extremely
on our regular news service. The Review will
continue to remain, as before, essentially a
sparing in their line of discounts, gener-
trade paper.
ally. By pursuing this course banks are
stifling industry. Property surely should
THE AFFAIRS OF MR. SCANLAN-
cut some consideration in the opinions of
T H E subjoined under the caption of
bank officials, and when a piano manufac-
"Local Business Troubles" appeared
turer can show hundreds of thousands in
in nearly all of the daily papers of New
valuable properties, his condition then
York last Tuesday:
should surely entitle him to what reason-
Deputy-Sheriff Sullivan has received an
able
consideration he asks. Money is not
attachment against Thomas F. Scanlan,
proprietor of the New England Piano the god, it is only the oil which lubri-
Company, of Boston, for $3,779, from
Adams & Adams, in favor of the Garfield cates the machinery of commerce, but if
National Bank, on two notes made by Mr. the machinery stops what need is there of
Scanlan to the order of Alfred Dolge & oil?
• .
Son, piano felt manufacturers, of No. n o
East Thirteenth street, which were in-
After all, what better security can there
dorsed by them and delivered to the bank. be than piano leases? The combined ef-
Mr. Scanlan, it is said, was involved in
the Dolge failure to the extent of $60,000 fects of fire, flood, earthquake or famine
on notes, and his total liabilities, includ- cannot remove them, as instruments are
ing the notes, are reported to be about
$250,000. He began business in Boston distributed over such a territory, that a
in 1871, built up a large trade, and in Feb- wholesale, destruction is practically im-
ruary, 1897, claimed to be worth $686,000. possible. The title of the owner remains
In 1889 he started a business also in New
York City, under the style of the New good until the last installment is paid.
England Piano Company of New York,
It would seem as if this trade should re-
with a capital stock of $200,000, of which
he has since been president and was re- ceive all reasonable considerations for
garded as the principal owner. The Sher- which it seeks at the hands of the banks,
iff served the attachment on W. B. Dygert,
the treasurer, to attach Mr. Scanlan's particularly when those who desire accom-
stock in the company. The Bank of the modation can exhibit such a showing of
Metropolis entered a judgment yesterday real tangible property assets—assets which
for $1,155 against Alfred Dolge & Son, as
indorsers on a note of the New England are not visionary but which are substantial
Piano Company of Boston, Thomas F. as real estate.
Scanlan, proprietor. Friends of Mr. Scan-
lan think that he will be able to pay in
full.
A N important announcement in the
Dolge affairs may be learned by con-
The New England Piano Co., of New
York, is a regularly incorporated concern sulting the news columns of this issue.
Judge Hiscock has decided that the
under the laws of this State. At present,
we may add, in order to correct the im- banks holding the mortgage on the Dolge
pression that has gone abroad, that there is factories are entitled to recover, and it is
no interruption whatsoever to the business believed that the foreclosure of the mort-
of the company as carried on in this city. gages held by them will next occur. It
Regarding the affairs of Thomas F. will be remembered that there have
Scanlan, a gentleman who is in a position been many sensational reports appear-
to know something of his condition said ing in the daily papers concerning the
action of. the Garfield Bank". This latest
decision is not only a great Victory for Mr.
Dolge, in that the allegations of tlie Gar-
field Bank are clearly dispr<3Ven, but it has
simplified the adjustment 01 his affairs so
that it now appears that this prospects for
Dolgeville are materially brighter.
T H E Merchants' Association of New
York is using strenuous efforts to im-
prove the trade conditions of this city. Its
officers feel confident of achieving a greater
success than they won last year when they
attracted thousands of buyers to our city
and brought in new business amounting to
millions. They induce Southern and
Western merchants to come to the city,
and in their efforts are warmly Seconded
by the railroad companies. Such enter-
prise is public spirited and worthy of en-
couragement, as it is well calculated to
benefit New York.
Shortly after the organization of an as-
sociation in New York, a similar one was
formed in Boston, known as the Boston
Bureau of Commerce and Industries.
They have sent out an appeal to the busi-
ness interests of New England, claiming
that business men should be anxious to
see that the war is not allowed to paralyze
industrial activity, or to render timid the
employment of capital.
William H. Say ward, who spoke at the
first music trade dinner in Boston, some-
thing over a year ago, is secretary. Among
those who signed the document we notice
the names of Mason & Hamlin Co., the
Henry F. Miller & Sons Piano Co., and.
the M. Steinert & Sons Co.
"PNEWEY'S religion is all right, and it is
not of the kind that deters him from
a Sunday fight. His victory in the East
has given us what some term a '' white ele-
phant. "
But will the Philippines prove an ele-
phant?
Local and European authorities estimate
the area of the Philippine Islands at 150,
000 square miles, and their population at
from 8,000,000 to 10,000,000.
The island
of Luzon, on which the city of Manila is
situated, is larger than New York and
Massachusetts, and has a population of
5,000,000, and the island of Mindanao is
nearly, if not quite, as large. There are
scores of other islands, large and very
populous. An idea of the extent of the
Philippines may be formed when it is
stated that the six New England States,
New York, New Jersey, Maryland, and
Delaware have ten per cent less area. In
addition to the Philippine Islands, the
Caroline, Ladrone, and Sooloo groups are
f