Music Trade Review

Issue: 1899 Vol. 28 N. 23

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
The National Bankruptcy Con-
vention.
[Special to the Review.]
Washington, D. C, June 6, 1899.
Much interest is being excited in Wash-
ington regarding the National Bankruptcy
•Convention to be held in Chicago on June
26th, at which it is expected a referee in
bankruptcy from each court district will be
present, and one or more delegates from
•each of the various credit men's associa-
tions, of which there are twenty-two, as
well as representatives from the National
Association. The most important feature
•of the convention will be the discussion of
amendments to the law, and it is expected
that a memorial to Congress will be adopt-
ed embracing such changes as the experi-
•ence of the past year has demonstrated to
be advisable to remedy defects which have
Taeen developed. With a view to bringing
together the various suggestions that have
been made and the arguments in support
thereof, Mr. Brandenburg, in charge of
bankruptcy matters in the Department of
Justice, has gathered a very complete col-
lection of the proposed modifications.
Need ham Progress.
Under the firm guiding hand of Chas.
H. Parsons, the record of the Needham
Piano and Organ Company for 1898-1899
has been exceptionally good in all branches
-and departments. Several first-rate new
Needham agencies for pianos and for or-
gans have been established in the United
States.
A number of attractive original designs
have been placed on the market. Each
has attained a good measure of success.
Retail business at the new Fifth avenue
"warerooms has increased steadily under
judicious management. The Needham ex-
hibit has become one of the things "to
«ee " in this city, and, furthermore to bear
in mind. Altogether, the "Needham"
is prospering in full measure.
Estey Phonorium.
The Estey Phonorium, which achieved
«uch a tremendous success at the recent
Electrical Exposition at the Madison
Square Garden, was used to decided ad-
vantage at the Festival of the White River
Musical Association this week at White
River Junction, Vt. The tonal character-
istics of the Phonorium are wonderfully
realistic in imitative quality and represent
the very highest attainments in reed instru-
ment manufacture. Musicians, and in fact
all, who were present at the Festival were
•delighted with this little organ giant.
It is not surprising that churches are
-purchasing the Phonorium in preference
to low priced pipe organs. There is no
•comparison between the two.
v :.>O
D. Q. Calder in Town.
fir. Van Wickle Honored.
David G. Calder, manager of the pro-
gressive establishment of D. O. Calder's
Sons, Salt Lake City, Utah, has been tarry-
ing within our gates this week. Mr. Calder
who represents the Steinway, Steck, Mason
& Hamlin and Kimball lines, speaks most
encouragingly about trade conditions in his
section. During his stay in the East he
will make selections of stock for his estab-
lishment. Mr. Calder is one of those push-
ing and intelligent personalities who has
helped to make the far West the great
center of business activity and prosperity
it is to-day.
At a meeting called by the Commission-
ers of Washington, D. C, on Monday
evening and which was attended by the
representatives of all that is best in the
National Capital, a committee of one hun-
dred was organized for the purpose of
preparing a fitting welcome for Admiral
Dewey on his arrival in that city. The
following officers were elected: W. H.
Moses, chairman; W. B. Cox, vice-chair-
man ; W. P. Van Wickle, secretary and J.
W. Babson, treasurer. The Washington
Evening Star in speaking of Mr. Van
Wickle's selection as secretary says:
"Mr. William P. Van Wickle, is an-
other of Washington's enterprising young
business men who has attained a deserved-
ly high place by reason of his own en-
deavors and an unremitting attention to
the affairs intrusted to him. He was born
at Lyons, Wayne county, New York, and
after receiving an education at the Palmyra
clerical school and the Troy Academy, en-
tered in a humble capacity the Brooklyn
factory of Freeborn G. Smith, manufac-
turer of the Bradbury pianos. This was
in 1876.
" His fidelity and comprehension of the
smallest details attracted Mr. Smith's at-
tention, and the young man's rise was
rapid. He was transferred from Brooklyn
to New York, and in 1879 was sent to this
city and placed in charge of the branch
house here, which then occupied the build-
ing next to The Evening Star office, recent-
ly demolished with the latter to make room
for the new building. Mr. Van Wickle's
enterprise and his keen appreciation of the
benefits of judicious advertising made the
business grow to such large proportions
that a new building was erected at No.
1225 Pennsylvania avenue, where he is now
located. He is as popular as he is keen
and progressive, and is active in behalf of
the interests of his adopted city. He is
chairman of the committee on membership
of the board of trade, through which the
membership has been increased one hun-
dred and twenty-five in the past six
months." "
The Conn Removal.
This has been a busy week at the Conn
headquarters, removal to the new estab-
lishment at 34 East Fourteenth street be-
ing in operation since Saturday last. The
stock of Benary small goods is pretty well
in place. On the main floor down stairs
workmen are busy getting the office, dis-
play cases and fixtures in ship-shape.
Although affairs in the new Conn estab-
lishment are pretty much in a state of
chaos as yet, nevertheless when every-
thing is in order Mr. Conn will have one
of the most attractive and imposing ware-
rooms to be found anywhere. The re-
moval, or the extreme heat, have not af-
fected business, which continues to be ex-
ceedingly brisk.
The Tax on Department Stores.
The hearing on Councilman Sulzer's or-
dinance providing for a license fee of $500
on each department in the department
stores of this city, which was to have been
held last week, has been postponed until
June 16th. Sufficient notice had not been
given to the proprietors of the stores and
so none of them were present. Council-
man Sulzer said that similar ordinances
are in force in Buffalo and Chicago, and
that it is the intention to model the pro-
posed local law on them as nearly as possi-
ble.
A Great Showing.
In the course of an article on the failures
for the month of May as compared with
the year previous, Dun's Review makes
the following interesting and cheering re-
port:—"April failures were the smallest
ever reported in any month. May failures
are nearly $2,000,000 smaller, only 62.8
per cent, of the smallest previously re-
ported in any month, and only 34.3 per
cent, of those in May last year. Solvent
payments were $8,328,292, and defaults
were $3,820,686, or 45.7 cents on $1,000
against 70 cents in April, $1.19 in March,
and $8.02 in September, 1896. Compari-
son with previous years indicates that the
ratio of defaults to solvent business has
T. La M. Couch is back again at his post never been so small as in May, 1899. Both
in the Kroeger factory much refreshed in manufacturing and trading failures were
•and recuperated by his recent sojourn in the smallest ever known in any month, and
the Atlantic Highlands. " T o m " has in each branch eight of the fourteen classes
added a beard to his visible possessions showed smaller failures than in May of
any other year."
Av hile he has been rusticating.
The Hard man Piano.
From a recently-issued list of patrons,
published by Hardman, Peck & Co., and
referring exclusively to the Hardman
Piano, it is gathered that, apart from
many instances not included in a report
of "leading" schools, churches, lodges,
clubs, etc., the Hardman grands or up-
rights—frequently both—are now used in
about five hundred institutions of note
throughout the country, including col-
leges, public and private schools, churches
of all denominations, Sunday schools, con-
vents, fraternal organizations, theatres,
concert halls for classical concerts, clubs
and musical conservatories.
George Engel, who for many years was
employed by Wm. Knabe & Co., died on
Sunday last at his late home in Baltimore
in his seventy-second year.
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
J8
Declaring t Against Trusts.
At the coining political conventions the
rising tide of trusts promise to be import-
ant questions for consideration. At the
Ohio Republican t State Convention last
week a plank was embodied declaring
against trusts. The Ohio State Journal, a
dignified and conservative organ,advocated
this plan in a vigorous editorial, from
which we quote:
"While recognizing that capital is enti-
tled to fair consideration and that its rights
should be given the fullest measure of pro-
tection," says^this paper, "we believe that
trusts as generally organized are inimical
to the best interests of the country.
" That concentration of capital is a logical
result of competition and inevitable is no
longer a theory. It is generally accepted
as a business axiom. Legitimate concen-
tration of capital cheapens the cost of pro-
duction without increasing the price of the
products to the consumer and without
widening]the opportunities for speculation.
The trusts, however, in the great majority
of instances, are not legitimate combina-
tions. They are capitalized at figures far
in excess of the actual value of the indus-
trial or business establishments which they
control. To make the trusts self-sustaining,
therefore, the industries concerned are re-
quired to earn more than would be a rea-
sonable profit upon the actual investment.
This is not possible except by the creation
of monopolies by which all competition is
stifled and consumers compelled to pay ex-
orbitant prices.
" I t must be evident to every thinking
person that the principle of such combina-
tions is wrong. An immense fabric is
built upon unnatural and forced condi-
tions. The vast quantities of watered
stock are made the basis of speculation by
the promoters of the trusts. The value of
these stocks is not gauged by actual in-
vestments but by the ability of the specu-
lators to influence the market quotations.
The present industrial conditions of the
country are favorable to these speculators.
In nearly every line of industry the de-
mand is greater than the production and
prices are therefore easily controlled.
"These conditions also make the trusts a
prey for speculators on the outside. Inde-
pendent establishments are started with a
view to forcing their purchase by the trusts.
The advance in prices render it possible to
operate these independent industries profit-
abl} r and yet market their products more
cheaply than the trusts.
The result is
that the trusts to retain a monopoly must
buy these independent plants at the owners'
valuation. This process only adds to the
vast capital of the combinations and will
ultimately so overburden them that they
will collapse of their own weight.
" The trusts will have their course with
the first evidence of stagnation in the mar-
ket for their products, because a reduc-
tion in earnings means a corresponding
weakening in the combination. Conserva-
tive business men and capitalists have fore-
seen the financial disaster which the trusts
will ultimately precipitate, and they have
already begun to exercise caution in hand-
ling industrial securities. The result has
been two serious breaks in industrials on
Wall street within two months. Immense
amounts of these speculative stocks have
been placed upon the market, and though
many people have heeded the warning, the
collapse of the trusts is likely to bring finan-
cial ruin to thousands of innocent investors.
' 'The Republican party owes it to the peo-
ple to make an emphatic declaration
against trusts and the speculation they
breed. They are a menace, not only to
the rights of the people, but to sound and
continued prosperity."
Bradstreet's talking of the trust situation
this week, has this to say: "An immediate
effect of the drop in"industrial stock prices,
and the increasing evidences that the public
is more disposed to liquidate its holdings
than to increase them, is the halt which
has occurred in the formation of new in-
dustrial combinations. A decided check
has been administered to the whole move-
ment. In some cases it is understood that
the financiers and manufacturers jointly
interested in such matters will carry them
out, although a delay will most probably
be considered a wise course.
"On the other hand, some promising
schemes, involving the bringing together
of all, or nearly all, of the individual plants
engaged in certain lines of manufacturing
industry, have been practically abandoned,
since the present conditions offer little or
no encouragement to either the promoters,
who get them up, the bankers who organ-
ize the syndicates or the manufacturers,
themselves, who have been induced to give
options upon their plants by the induce-
ment of a high price for the same in secu-
rities for which a ready market could be
obtained. The indications at the moment,
are that the so-called "trust" movement
will from now on assume a much slower
and more conservative aspect, if, indeed,
for a little while there is not an almost
complete cessation of the process of bring-
ing out new companies."
The Lindeman Piano Co.
The Lindeman exhibit of 1899 styles now
on view at the factory and warerooms, 548-
550 West Twenty-third street, is, without
doubt, one of the brightest and most cred-
itable in the city, viewed from any stand-
point.
Mr. W. L. P. Norris has labored earnest-
ly and unceasingly to enhance the good
reputation of the Lindeman products, per-
sistently maintaining a high standard of
style, tone, and construction. This is be-
ing widely recognized by dealers who pre-
fer to cultivate the patronage of discrim-
inating music lovers.
J. F. Peck will to-day open a piano store-
on East Main street, Warsaw, N. Y.
A Needham Creation in Upright Grands.
The above illustration represents the Need-
ham Piano and Organ Co.'s new style 54, Up-
right Concert Grand, one of the firm's great-
est successes, with every promise of a long
run. It is among the handsomest uprights
now on the market, and is in good demand
in all woods. New Style 54 is being made-
in ebonized, figured mahogany, quartered
oak, Circassian walnut and Hungarian ash.
There are three sunken panels in the ends,
moulded. The instrument is double cross,
veneered outside and inside.

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