Music Trade Review

Issue: 1899 Vol. 28 N. 3

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
store in the commonly accepted definition
One thing is certain, John Wanamaker
of the term—department store. His is will allow no commissions. That fungous
rather a segregation of many complete growth will never find a shelter within his
stores under one management. It is the establishment; therefore to meet his prices,
grouping of a hundred stores under one which will be based undoubtedly upon
roof.
sound mercantile judgment, other men
EDWARD LYiWAN
Now,
that
he
has
added
a
piano
store
to
must
remove all such unnecessary and
Editor and Proprietor
his great aggregation it is but fair to pre- expensive attachments from their business
PUBLISHED EVERY SATURDAY
sume that he will advertise the Chickering dealings.
3 East 14th St., New York
~
piano extensively, for, up-to-date mer-
The commission evil has crept into this
SUBSCRIPTION (including postage). United States,
chant that he is, he would not add a new trade, so that a certain element of the
Mexico and Canada, $a«o per year ; all other countries,
store to his business without aiding its public to-day, will gravitate to department
ApVERTISEHENTS, $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-
promotion
by the use of the extensive ad- stores for pianos rather than to exclusive
ing matter $75.00.
REMITTANCES, in other than currency form, should
vertising machinery which is always at his stores, owing to the belief they entertain
be made payable to Edward Lyman Bill.
command.
that possibly the one who recommends
Entered at the New York Post Office as Second Class Matter.
The papers and periodicals bearing his them is to receive a commission. The
NEW YORK, JANUARY 21, 1899.
business announcement will reach all parts commission evil should be treated in the
TELEPHONE NUMBER, 1745--EIQHTEENTH STREET.
of the country. The price at which he same way that Dewey treated Montojo's
offers Chickering pianos, must, to a large fleet.
THE KEYNOTE.
degree, regulate the prices asked by
When we come to think of it seriously,
The first week of each month, The Review wil)
contain a supplement embodying the literary
Chickering
agents
everywhere.
They
if
a man recommends a friend to his tailor,
and musical features which have heretofore
appeared in The Keynote. This amalgamation
cannot ask a materially increased price over does he expect a commission, or does he
will be effected without in any way trespassing
Wanamaker, and it is not our opinion that expect a percentage on any other article
on our regular news service. The Review wil!
continue to remain, as before, essentially a
they will sell for less. Thus, at one stroke that he honestly suggests in a purely
trade paper.
Wanamaker regulates the price of Chicker- friendly way to any of his acqaintances?
ing
pianos, and those prices must have an
That is one thing that the dealers of
THE CHICKERING-WANAMAKER
appreciable effect upon the prices of other America can figure on straight, that John
DEAL.
Wanamaker will pay no commissions.
T H E announcement of the Chickering- high-grade pianos.
It
is
absurd
to
think
that
John
Wana-
Wanamaker deal in last Saturday's
Review, was the signal which set the trade maker will enter into a cut-rate war. There T T will be interesting to note the effect of
the Wanamaker deal upon Chickering
tongue wagging with surprising alacrity. will be no competitive knives sharpened
agents
in other parts of the country. How
We question if any mention of trade hap- between Wanamaker in Philadelphia and
penings for years has created such wide- the Chickering branches in New York, this new move will be received by them is
full of interest. As far as competition
Boston and Chicago.
spread and varied comment.
We may expect that Wanamaker will goes, it may be said that Chickering &
Looking over the froth and ferment
occasioned by this move, the matter re- advertise the Chickering product in a novel Sons have placed a powerful argument in
solves itself into a concise proposition. and up-to-date manner, all of which is the hands of their competitors by placing
Chickering & Sons have made a play, destined to help New York, Boston, their instruments on sale in a department
which, measured by trade traditions is Chicago, and why not Chickering agents store.
It may be urged that dealers will use
revolutionary in character. It is among everywhere?
And so it is possible that there will be a the antipathy which prevails, to a large
the possibilities that this iconoclastic stroke
from the Chickering hand may be destined standard established which this trade has degree, particularly in the West, against
to play an important and far-reaching part needed for many years. The move to our department stores in turning the tide of
minds is full of interest, as it is one of public opinion against the Chickering
in the future retailing of pianos.
Let us discuss the matter from a broad those weighty strokes which, as we stated at product. The weight of this argument in
the beginning, may be calculated to affect a deterring sense is problematical. The
standpoint:
Suppose one of the resultant effects the trade to a larger degree, than some fact remains that competitors in this trade
should be to establish a fixed standard of would at first imagine. One thing is certain, have never hesitated to use any kind of an
. value in the musical instrument trade, competitors will find that John Wanamaker argument to kill competition. Some have
will indeed be a power that will be felt not hesitated at a substantial elongation of
such as it has never experienced ?
If this can be brought about by the in- outside of the restricted Pennsylvania the truth to gain a point on competing
wares. A business institution does not
troduction of strictly business methods in territory which he will directly control.
live because its competitors are pleased
the retailing of pianos, then the Chicker-
ing-Wanamaker deal will have been instru- T H E Wanamaker move may be instru- with its existence. It exists because it
mental in accomplishing much for trade
mental in bringing about certain produces something for which there is a
betterment.
reforms of -which this trade stands greatly demand.
Now the directing forces of the Chicker-
in need. The keen scalpel of common-
How can this be done ?
ing
corporation evidently believe that all
John Wanamaker is the greatest living sense may remove certain excrescences
merchant—the only worthy successor that which have grown and fattened upon trade of the agitation following this new move
will result in augmentation of Chickering
A. T. Stewart ever had. His name is a susceptibility and weakness.
We refer particularly to the matter of interests and they rely, to a large extent,
synonym for business probity. No mer-
chant in America is better known, and he professional and other commissions which upon the discriminating intelligence of the
is a national advertiser of colossal propor- are paid in so many music trade establish- public in appreciating the values which
they are producing in pianos.
tions. He does not run a department ments in this land.
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
The acts of Mr. C. H. W. Foster are not
congealed by conventionalities.
He makes
premature, but it entirely lacks confirma-
tion.
The present arrangement between
Last
week we had an opportunity of
chatting with two former acquaintances,
this departure, believing, unquestionably,
the Chickering corporation and John Wan-
who have been successful in forming two
that it will result in an increased output of
amaker
trusts.
temporary.
As
a
natural
They are lawyers and they re-
If it proves success-
sequence, however, if both parties are satis-
marked to us that their commission in the
then undoubtedly others will follow
fied with the results accruing from their
deals would amount to enough to give
present arrangement, it would no doubt
them magnificent
become permanent, and the possibility for
that while some of the individual owners
an enlargement of territory would of course
of certain plants asked an extravagant fig-
be attendant upon what success is achieved
ure, yet it was their policy to pay it. That
by the existing understanding.
such a course simply means printing a few
Chickering pianos.
ful,
is
his lead.
IV A ANY ask, in the event of the success of
John Wanamaker in handling pianos,
to the extent that the Wanamaker piano
store, becomes a prominent adjunct to his
business, what effect will it have upon the
piano dealers over America ? Will it cause
other leading manufacturers to seek the
department stores as avenues of outlet for
their instruments ?
That, too, is a question that cannot be
answered at once.
We must await de-
velopments, and we prefer not to express
an opinion at the present time.
The Wanamaker case is a peculiar one.
For reliability no merchant stands higher
in America.
fortunes.
They
said
It may be that the piano business may
more certificates, while they, the promot-
not be prolific in results so that the great
ers, receive their commission in cold cash.
Philadelphia and New York merchant may
The difficulty of earning dividends upon
conclude that the space in his vast estab-
this enormously expanded capitalization is
lishments can be better utilized for the dis-
a source of inherent weakness.
play and sale of other wares.
And tbms
If we could
a trust has within it at its very inception
only part the veil which hides us from the
an element which is destined to cause its
uncertain future, we would probably all
dissolution.
accomplish greater results, and it is that
by the skill of its management to keep it
future which holds the secret of success or
afloat for further speculation.
Its career can be measured
failure of the Chickering-Wanamaker ar-
T A K E the case of the American Steel &
rangement.
Clean business methods, too,
Wire Co., who now propose to incor-
are interwoven with all his transactions.
porate a company of $90,000,000 to acquire
His wares are not what we colloquially
term "cheap goods," therefore in this one
particular
Wanamaker
differs
from
all
other department store merchants.
Can Boston show a merchant of
the Wanamaker type ?
Is there another
in New York, or Philadelphia, or Chicago.
The music dealers do not want to lose
their heads in this matter, and we would
counsel those who are indulging in lurid
pyrotechnics
to await
further
develop-
ments.
Evo-
lution, and some may say, revolution,
is just now working wonders in the indus-
trial and capitalistic world.
Let us glance hastily at the different
cities.
THE NEW " INDUSTRIALS,"
T^HIS is a history creating period.
The forma-
Washburn & Moen at first asked a price
which the promoters refused to pay.
They
Far
now find that in order to succeed they
from abating, the movement which is re-
must absorb all competing plants; hence
sulting in the combination of industrial
they wish to increase their stock a few
and commercial affairs continues with \\\\-
millions—it
abated activity—thus the rapidly changing
absorb all these industries. This stock is
tion of vast trusts goes steadily on.
events of welding small competing groups
of capital into vast non-competing aggre-
matters not how many—to
now being advertised, and the promoters
hope that the people will quickly purchase
the entire line of certificates.
gations.
It seems that the trading world is filled
D E S T assured whatever is the outcome
the Washburn & Moen and other compet-
ing wire-making plants.
with associations which are steadily regu-
of the Chickering-Wanamaker deal,
lating
the Chickering piano will continue to be a
goods.
the prices of
great factor in the piano industry.
tions in everything.
all
manufactured
This is the age of gigantic opera-
Is it not a
fact that the declared
intention of the
men
trust to
behind
the wire
absorb
more is an open admission of their present
weakness?
About the only im-
We are seeing expansion with a venge-
advertising which the Chickering instru-
portant industry in which genuine com-
ance in these great combinations, and to-
ments will have received from the date of
petition still exists is that of the piano
day the leading bankers of the country
our last issue to the close of the year, in
manufacturing, and the efforts to combine
connection with this matter will be simply
this trade into a trust have thus far proved
beyond calculation in
futile.
cents.
cold
The
dollars and
in the Chickering
Thus the
moters and men who sell these stocks on
commission, will continue to become large
All of the talk and agitation will
stimulate an interest
are listing these ''industrials."
investing public, it is hoped by the pro-
\ \ 7HILE the figures which represent the
purchasers of the new "industrials."
trust deals of 1898 reach an enor-
This new condition involves dangers to
mous capitalization, it should be under-
the general financial situation, and there
complete metamorphosis, so that to-day
stood that a large amount of those figures
is already a development 011 the
one lmndred pianos a week can be shipped
represent merely the quantity of
paper
large financial interests to discourage the
from the Chickering factory without extra
certificates in the form of shares which
growing tendency of the market to devote
exertion.
Then too, the Chickering pianos
these trusts have caused to be printed,
itself to the industrial stocks.
from the date of their first manufacture to
hoping to dispose of them to an investing
product
The factory at Boston has been
thoroughly systematized, has undergone a
part of
What else does this mean than that the
the present time have in no period excelled
public.
It is a fact in the organization of
solid financial element of America consider
those of 1899.
most of these trusts that from three to four
that these colossal aggregations of stock,
TT has been rumored that the Philadelphia
arrangement would be followed by a
deal whereby the New York business would
dollars more in shares have been allotted
the value of which only consists of paper,
for every dollar of actual property em-
will some day go up like the South Sea
braced in the combination.
Bubble scheme?
And how that
vast watered stock is going to pay is a
be controlled in the near future by Wana-
problem which the best financial
maker.
in the country are vinable to solve,
This announcement is not only
experts
Of the twenty-one great industries which
have been incorporated in New Jersey and
launched in Wall street since May last less

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