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THE MUSIC TRADE REVIEW
. ? }• EDWARD LYMAN BILL< •< -
Editor and Proprietor
PUBLISHED EVERY SATURDAY
3 East 14th St., New York
SUBSCRIPTION (including postage), United States,
Mexico and Canada, $J«O per year ; all other countries,
$3-00.
ADVERTISEn r NTS, $2.00 per inch, single column, per
insertion. On quarterly or yearly contracts a special dis-
count is allowed. Advertising Pages $50.00, opposite read-
ing matter $75.00.
REMITTANCES, in other than currency form, should
be made payable to Edward Lyman Bill.
Entered at the New York Post Office as Second Class Matter.
NEW YORK, FEBRUARY 19, 1898.
TELEPHONE NUMBER, 1745--EIGHTEENTH STREET
THE KEYNOTE.
The first week of each month, The Review will
contain a supplement embodying the literary
and musical features which have heretofore
appeared in The Keynote. This amalgamation
will be effected without in any way trespassing
on our regular news service. The Review will
continue to remain, as before, essentially a
trade paper.
SANDS ON THE SEASHORE.
"THE
war scare with Spain has affected
business."—Financial Ex.
Our contemporary is wrong in the first part
of the statement. The words " w a r scare"
are old, hackneyed and obsolete. There is
no "war scare" with the American people,
and it is much better to state plainly that the
seriousness of the situation which now con-
fronts us in regard to our relations with Spain,
has had a depressing effect upon the business
interests of the country, than to attribute it
t o a " war scare."
The word " scare " in this case is not appli-
cable. The American people do not "scare,"
neither are they quickly inflamed, and in this
peculiar crisis in our national affairs, it is well
that we have a cool judicial head in the Ex-
ecutive.
The talk of the week in the hotel lobbies,
in the cars, in the caf^s, has been the blow-,
ing up of the battle-ship "Maine," in Havana
harbor, and the consequent possibility of war
with Spain.
It is true that these are critical days, and
the lurid utterances of a certain class of
journals have a tendency to aggravate the
situation, which really requires calmness and
self-control. If the court of inquiry should
find that the blowing up of the "Maine"
was caused by the work of an enemy, then
our fire-eating friends will be afforded am-
ple opportunity in which to exploit their
wordy pyrotechnics.
If war should come,
the business interests of the country would
be temporarily affected by the sharp decline
in stocks which would immediately follow
the declaration of war, and then the entire
energies of the country would be turned
towards building great war machines. That
would mean the absorption of the vast army
of unemployed and a vast distribution of
money. The struggle would not be ter-
minated within a few weeks, as some of our
most sanguine and lurid contemporaries de-
clare. It would be almost entirely a sea
conflict, and on those lines Spain could en-
dure a war for some time, during which
vast injury could be done to our shipping
interests.
The American people need no spur of jin-
goism. They will await with calm delibera-
tiveness the result of the inquiry. Until that
is rendered judgment will be suspended.
In the meanwhile it is just as well to keep
cool and attend to our own affairs.
This is a year of wars, and whether we
reach one with Spain or not is still to be de-
termined, but one thing is certain, that there
is a heavy, dark, ominous cloud hovering
over the Annex eyrie in Union Square.
On with the dance.
Q N E of the greatest preventives to the de-
velopment of our export trade with South
American countries, has been the absence of
an international bank whereby exchanges
could be made directly on New York. Here-
tofore, and in fact to-day, exchanges are made
on European banks instead of the United
States. This has been a serious hindrance to
business enlargement, and the National Asso-
ciation of Manufacturers have advocated for
some time the founding of an international
UOW times have changed! Years ago, when American bank as a part of their program to
Marc Blumenberg cracked the whip, some advance the interests of American manufac-
of the members of the trade were not slow turers abroad.
in making their obeisance to him. To-
The agitation in this connection has at
day the man who made others tremble is last borne fruit, for this week the bill incor-
now experiencing that peculiar thrill—caused porating the International American Bank
by cold shivers running athwart the spine— was favorably reported by the Senate Foreign
which years ago he was unacquainted with.
Relations Committee. The capital stock was
It was Morris Steinert who was the piece de fixed at $5,000,000 with power to increase it
resistance to Blumenberg.
It was Morris to $25,000,000.
Steinert who brought him to his knees, and
According to the bill, branches are to be
reduced his power in this trade. It was opened in Mexico, in the West Indies, and
Morris Steinert who punctured the Blumen- two in South America within two years. As
berg bubble and compelled him to print the the consensus of opinion is favorable to this
following:
measure, and as it is backed by the business
"We hereby retract, and admit to be untrue, sentiment of the country, it is certain of im-
all the statements and insinuations heretofore mediate passage.
published in the Musical Courier, which re-
flect or may be taken to reflect upon the
character or conduct of Mr. Morris Steinert, T H E National Piano Manufacturers Associa-
or upon the M. Steinert & Sons Co.
tion is destined to become a powerful
Signed, Musical Courier Co.,
factor in the music trade affairs of this coun-
Marc. A. Blumenberg."
try. At the annual convention which takes
Ye gods, what must the feelings of Blu- place in Boston next June, a number of mat-
menberg have been when he subscribed his ters which will materially affect trade inter-
name to that apology in May, 1895! Partic- ests will be brought before the Convention.
ularly after the insolent abuse of Mr. Stein- The executive committee have under consid-
ert in the columns of the Courier.
eration many subjects which will tend to not
Mr. Steinert proved a worthy foeman, and only solidify the trade against frauds, but
his nerve did not weaken when Blumenberg they have matters under advisement which,
cracked the lash.
if adopted successfully, will make it possible
Since those buoyant, smiling May days of to conduct business in many of the States on
1895 the path of Mr. Blumenberg has not safer and more progressive lines.
been entirely free from thorns. His arrogant
insolence has been relegated to a rear posi- T H E royal heads of Europe have so frequent-
tion, and the comparative ease with which he
ly paid tribute to the merits of the Stein-
obtained patronage (?) has been supplanted by way pianos, that the news which reached the
changed conditions, and 1898 bids fair to be local warerooms from London last week, that
a stormy year in the career of one Blumen- Her Majesty Queen Victoria of England had
berg.
ordered another upright grand to be placed in
Close upon the Haines Bros, suit tomes her private apartments at Windsor Castle,
another brought by Carl Fischer, the eminent occasioned little surprise. The Steinway and
publisher and importer, for malicious libel Royalty are synonymous.
against the Courier, alleging $20,000 dam-
ages.
It is said too that there are still T H E R E are some manufacturers in this trade
who are originators of special case designs,
more in line who have grievances to settle.
As we remarked some time ago, there are and it would seem as if the business man who
pursues original methods that is anything out
red hot times ahead in trade journalism.