Music Trade Review

Issue: 1898 Vol. 27 N. 15

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
throw his sure thing with the trust whirl-
The
LYMAN
It cannot be denied, however, that the
whole tendency of the times is toward gi-
pool ?
gigantic stock
speculators
who
gantic combination.
reached out to the railroads, and now the
individual.
banks themselves show a desire to consoli-
While they may be men who
are liberal personally, donating vast sums
date,
Editor and Proprietor
to religious institutions, hospitals, libraries
money trust.
PUBLISHED EVERY SATURDAY
and all that, yet their minds have become
"
3 East 14th St., New York
SUBSCRIPTION (including postage), United States,
Mexico and Canada, |a;oo per year ; all other countries,
$300.
ADVERTISEHFNTS, $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 Clast Matter.
NEW YORK, OCTOBER 8, 1898.
TELEPHONE NUMBER, 1745—EIOHTEENTH S I R E E T .
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.
ANENT TRUSTS.
It is true it is in a
and bank
consolidation
means a
It is said that the consolidation of ten
so hardened that they show no appreciation
or twelve of Boston's national banks is as
of
good as assured.
sensitiveness when
they
manipulate
these vast stock jobbing schemes.
A circular has been is-
It is
sued to the savings banks which practically
with them to screw the millions out of the
own a controlling interest in these banks,
people no matter what the cost—no matter
naming a price which will be paid for their
what
holdings.
suffering
ensues—no matter how
The intention is to liquidate
many men are reduced from their positions
these banks and organize a new national
of independence to absolute beggary. Such
bank with an enormous capital.
matters as those have no consideration in
Morgan is said to be behind the scheme.
the counsels of the trust magnates.
Pierpont
It seems as if America had gone trust
But all these trust schemes are not suc-
mad.
Well, it is enterprise, but whether
Take one which has been lately
this sort of enterprise is beneficial to the
formed and is closely allied to the music
country as a whole is yet to be determined.
trade industry—the wire trust.
The enterprise of trusts is measureless,
cessful.
Washburn & Moen, who sell some wire
and with the enormous strength applied it
to the piano trade refused to join the wire
is difficult to predict what will be the ulti-
trust unless they received two hundred
mate outcome of these enormous combina-
TV TO, emphatically no, the trust principle dollars per share. The wire combination
as applied to the music trade industry offered this company $150. They declined
is not dead by any means.
The movement has
manipulate these affairs consider not the
this, and Washburn & Moen stock that had
tions.
It occurs to us that it is better that our
strength should be reserved for enterprise
sort of comatose condition at the present
been paying eight per cent, per share and
whose value we can measure rather than to
time, but it is liable at any moment to be-
selling at about $125 is now $150 per share.
be frittered away on schemes of very ques-
Probably
And there are some who believe that the
tionable issue from an economic point of
before many moons shall have passed we
wire combination will pay $200 per share
view, or schemes where the smaller manu-
shall be enabled to give some interesting
for the Washburn & Moen stock, and that,
facturer, who to-day is independent, be-
facts concerning the inside movements of
too, in the near future.
comes but plastic clay in the strong knead-
come more formidable than ever.
the trust scheme.
In the meanwhile it
The position of Washburn & Moen dem-
may be well to consider the matter from
onstrates that people can live outside of
. all points of view.
ing hands of the giant stock manipulators.
these trust combinations, and in no indus-
EVILS WHICH DESTROY.
Trusts are not by any means secure in-
try could it be so successful as the music
r^vOES it pay to cut prices and thereby
vestments, and as can be proved by ab-
trade, because there is no line of goods
acquire a temporary advantage over
solutely authentic data concerning them,
manufactured on earth where more atten-
there are a greater number which have
tion is paid to the real standing of an
We have been cutting, cutting, cutting
failed than can be credited to the account
article than there is in the purchase of a
in this trade during the past two years in
of the successful trusts—in other words,
piano.
in that line of pianos popularly known in
money-making trusts.
It occurs to us that those who remain
your competitor ?
the vernacular
0$ the
country
as the
" cheap."
Take recent history, and there has been
outside of the combination will be infinite-
a shrinkage of millions in trust stock quo-
ly better off than those who relinquish
tations.
Taking at random a few import-
their individuality to a combination of
ant concerns, we can say that the American
stock jobbers, for it means nothing else.
The men who have ruthlessly cut their
Sugar Refining Company suffered in trust
In the end they may not have even re-
prices are not in as good shape to-day as
stock quotations to
ceived a mess of pottage for their birth-
the men who have maintained a fixed value
right.
for their product.
the extent of
thirteen and a half millions.
over
Consolidated
Is not this, after all, a short-sighted
policy ?
The man who will cut
that good can be
$5.00 or even $2.00 to-day on a certain
bacco combination nearly eight millions;
effected by some sort of combination, but
grade of instruments gets the order, and
while National Linseed Oil is now in liquid-
it may be other than a trust combination
so it has gone on, and the standard—if
ation.
to benefit the members of
Gas passed the thirteen million mark.
To-
Is it not a fact that competition and stock
There is no doubt
this trade.
Those who are easily frightened may ask
jobbing explains this enormous deprecia-
how are we going to fight this giant octo-
tion in stock quotations ?
pus which threatens to overwhelm us?
there is a standard among the cheap pianos
—has become steadily reduced.
Some
manufacturers
have
seen
the
Is
trend of affairs in this direction and have
fact that the history of three-fifths of the
it not better to go with the stream than
realized that the day for making a reason-
trust organizations in A'nerica shows that
against it?
able profit
Is it too not a
the original stock holders have been losers ?
In
some cases, yes.
But where the
passed.
on very cheap pianos was
They have commenced to better
their product, and have consequently ad-
Is it then best for a manufacturer who
stream is leading one to utter destruction,
to-day has a fair business which is paying
it is better to make some show of resist-
vanced their prices.
him a moderate sum on his investment, to
ance at least.
path, for the ruinous competition which ex-
They are on the right
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
ists among- the cheap makers is bound to end
in disaster unless their course is changed
materially.
Trade paper work has advanced beyond
DEPARTMENT STORES.
T H E R E are three department stores in
Trade is worth nothing unless
New York which
to-day
advertise
little, petty, narrow, spiteful, cranky, ig-
norant statements.
It has advanced to a
These instruments are in
dignified position, and men who edit trade
reached such a point that there is but little
every case what is commonly known as
papers should show that the evolutionary
or no money in certain lines of pianos man-
"stencil" pianos—that is, they do not bear
stage has reached them.
ufactured, and still manufacturers will con-
upon the fall board the name of the manu-
this
facturer.
must be sincere, and when they pose as
it pays a profit.
Affairs, however, have
tinue to adhere to this destructive policy.
The price-cutting evil has existed in the
bicycle trade, and has to a large degree
undermined the process of manufacture in
pianos for sale.
They are offered at retail from
If the editors in
trade hope to have weight, they
$125 to $160, and are made by manu-
teachers
facturers in this city.
upon the elementary conditions which sur-
It
is true
a number of instruments
they should at least be posted
round trade matters, in order that they
may be retailed from department stores,
may make a truthful
tended to the retail trade, a notable illus-
but we do not believe that they will ever
same.
tration of which is the Wanamaker-Seigel-
reach an output which will cut important
The trade press is essential to trade
Cooper affair over the Humber bicycle.
figures in the distribution of pianos and
greatness, and successful publications are
organs.
endowed with worthy ideals and exert a
wheels.
Ruinous competition has also ex-
These wheels were retailed
by John
Wanamaker last fall at $100, and sold by
the same concern in the spring at $75.
There has been in
this State and in
others, a strong desire on the part of the
It seems that, according to Wanamaker,
people to curtail the business of the de-
the Humber Co. broke its contract and
partment stores by imposing upon them a
sold wheels to the Seigel-Cooper Co. Then
special tax for each line of goods offered.
the war began which ended
in
Seigel-
Out in Denver the aldermen have voted
Cooper offering Humber wheels for $25,
practically to prohibit
and as Wanamaker plainly says in his ad-
cerns.
vertisement, "A price-cutting war, child-
measure taxing department
ish and absurd,
continuous effort
for
portrayal
of
the
the realization of
their mission.
T H I N G S have brightened materially in
a business sense during the first week
of October.
Reports from all sections of
con-
the country show that there is a hearty re-
This they have done by passing a
vival of business which portends an ex-
department
stores to a
cellent condition of affairs from this time on.
has compromised
the
prohibitive point.
There are now two al-
It was during the summer that The Re-
best bicycle reputation in the world."
He
ternatives forced upon the merchants of
view, after carefully weighing the condi-
further propounds the very pertinent in-
Denver by the bill.
Prices must be raised
tions, and receiving personal opinions from
quiry, "May not the quality of bicyles be
to a high figure or every individual de-
tradesmen in every city in the land, gave
also compromised by the same influences
partment must stand disassociated
with
its note of warning to manufacturers to
that have destroyed
any other.
It is not believed that this
have finished stock on hand to supply the
bill will be upheld in the courts, still its
demand which was bound to be made upon
future
very passage shows that the people of
them.
Humber bicycle qualities rests in a degrad-
Denver are not in favor of department
counsels of this paper are wise, heeded our
ed policy to meet a degraded price."
stores.
warning.
says
"the
avoided
the market?" and
conclusion
that
can
scarcely be
the only hope for
This incident is full of lessons for both
piano manufacturer and dealer.
What is true of Denver is true of the
virgins.
Some, who have learned that the
In this case" they are the wise
Their business lamps are full and
It had its
great West, for in no part of our country
origin in the failure of the Humber Co. to
exists that intense antagonism to depart-
The others are now hustling to meet the
live up to a contract made with Wana-
ment stores that is apparent in the West. In
orders, and some of our concerns cannot
maker, hence it emphasizes very strongly
New York we have become accustomed to
begin to supply the trade which is now
the advantages to be derived from what
their existence and there is really no an-
reaching them.
nowadays is sometimes considered an old-
tagonism to them, but outside of this city
fashioned standard of business morality.
in the smaller towns of the State, there is
are giving forth a splendid illumination.
TT was some two years ago that Marc Blu-
The price-cutting evil is childish and ab-
that same deep-rooted feeling against de-
menberg made the ridiculous and bom-
surd, and it means ruin to a name and
partment stores that is becoming strongly
bastic boast that he would annihilate all of
ruin to a business.
emphasized in the West.
the other papers.
Another incident
which
He referred to them in
endearing terms, applying
illustrates a
such
loving
suicidal business policy was evidenced in
TT seems a pity that some editors of trade
epithets as "fools," "asses," etc., and told
this trade last week by an auction sale of
papers do not keep in close touch with
in soft, sinuous terms how he would meta-
pianos which have borne a reputation for
trade environment.
honesty and reliability.
phorically wipe the
earth
with them—
crush them—annihilate them.
that
that the editor of one of our western con-
these pianos netted at auction about $60.00
temporaries gave our locality a roasting- on
It is interesting to note that the annihi-
to the manufacturer shows that the cost of
the state of trade which exists here in Van
lation process has been largely confined to
manufacture was not covered by a great
Wyckville.
the Courier precincts, and it is believed by
many dollars.
The fact
It was only last week
In other words, by this
The statement shows extreme lack of
move the manufacturer himself not only
courtesy on the part of our visiting editor,
lost money on every instrument that was
many that Mr. Blumenberg, owing to the
enormous demands
made
upon his re-
a total ignorance of the real conditions
sources, has become rather tired of pour-
sold, but the figures at which these instru-
and a cranky desire to do harm.
ing money into the thin, little Annex.
ments were sold have gone forth to the
If the
The
editor of the paper had any knowledge of
Annex was marasmic from birth, and now
trade and must forever act to his disad-
mercantile conditions as they exist with
he is attempting to pump into it a sem-
vantage.
are
us, he would know that banks have not
blance
suicidal policies in business which it is well
closed down on piano paper; on the con-
patronage at almost any price.
to avoid, that is, if the concern has a future
trary, piano paper—that is reputable paper
in mind.
—is sought for eagerly by banking men.
In
other words,
there
of life by soliciting
advertising
The very fact of the enormous sweeping
reductions and special offers made to get

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