Music Trade Review

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THE MUSIC TRADE REVIEW
an organization water inflated far beyond ful. There are now in the furniture trade
its earning capacity? And is not corres- several promoters at work on the trust
ponding inflation to be found in nearly all propaganda.
One of the strongest arguments which
of the recently organized trusts? Is it not
can
be made in favor of a trust in the
a gigantic stock-jobbing scheme—a verit-
able scramble on the part of trust pro- piano trade is that it would mean an enor-
EDWARD LYMAN BILL.
moters to organize on any basis as long as mous lessening of the expense in market-
Editor and Proprietor
ing the product.
their commissions are secured.
PUBLISHED EVERY SATURDAY
It is the same argument, however, that
In the piano industry there has been a,
3 East 14th St., New York
number of abortive attempts to bring the has been used in all trust schemes, and if
SUBSCRIPTION (including postage), United States,
Mexico and Canada, |ajoo per year ; all other countries,
manufacturers into a trust. The first at- this very idea of lessening the cost or ex-
$300.
ADVERTISE/IENTS, $2.00 per inch, single column, per
tempt dates back a number of years, when pense of running enterprises is carried to
insertion. On quarterly or yearly contracts a special dis-
count is allowed. Advertising Pages $50.00, opposite read-
it was proposed to sell the principal plants an extreme fulfillment, then the dawn of
ing matter $75.00.
REMITTANCES, in other than currency form, should
the new century will find that the purchas-
to an English Syndicate.
be made payable to Edward Lyman Bill.
ing
power of the people has been reduced to
It was, by the way, the lessons taught
Entered at On New York Pott Office as Second Clast Matter.
by foreign syndicates in combining plants, such an extent that there will be the two
NEW YORK, FEBRUARY 18, 1899.
that led up to trusts in later years. The extremes—the rich and the poor.
TELEPHONE NUMBER, 17-45—EIGHTEENTH STREET.
And it is not the rich who make a na-
syndicate scheme at first presented by
tion
prosperous, it is the healthy, middle
foreigners was the ancestor of the trust of
THE KEYNOTE.
class who when they receive liberal com-
to-day.
The first week of each month, The Review wilt
contain a supplement embodying the literary
The first attempt has been followed by pensation for their services are in turn
and musical features which have heretofore
appeared in The Keynote. This amalgamation
a number of others which have, thus far liberal spenders. It is that vast volume
will be effected without in any way trespassing
on our regular news service. The Review will
resulted only in talk—or better in educat- of money always in rapid transit which is
continue to remain, as before, essentially a
trade paper.
ing the members of the trade up to the the great lubricator of trade. Thus, in a
broad sense, the matter of cutting down
trust scheme.
ABOUT TRUSTS.
In 1897 the trust idea was revived and expenses in every field of human endeavor
TT would seem as if the attainment of a received quite an impetus before it foun- means a corresponding lessening of the
purchasing power of the people. Men
trust condition were the omega of in- dered.
dustrial competition, for when the nation
This year it has again taken on life and whose income is rediiced to the purchase
becomes completely girdled by trusts, some allege that it is rapidly assuming of the necessities of life can not in any
competitive warfare will have been rele- shape. The connection with the scheme sense become buyers of pictures, books,
gated to an unhappy past.
of a notorious music trade editor rather pianos and home accessories which lead to
All manufacturers will be eating the than aiding it gave it a serious set back. a higher civilization.
lotus leaves of generous dividends, with- Some of the largest manufacturers looked
\ / IE WED in an extreme light how, then,
out so much as a thought given to such or- with suspicion upon anything with which
can such stock concerns which are
dinary incidents as pay rolls and competi- he was connected.
dependent upon the thrift of our middle
tors.
Again, in both the East and the West classes be made to pay, particularly when
So sings the trust siren otherwise known there has been a promoter steadily engaged
weighted down with a watered creation
as the promoter—the man who assembles in promulgating the trust teachings in our
far beyond their earning capacity with
the working parts of an industry into a industry. To say that the seed of his argu-
even normal conditions? Some of the
compact whole. The man who by the way ment has fallen upon fertile soil and is
best-posted men in the country affirm the
does not get his pay in watered stock but leaving rich fruit would be untrue, and to
war-cry of the next presidential election
in good coin of the realm.
say that the matter is not being considered will be " T h e people against the trusts"
The trust idea has developed to such would be alike untrue.
and if so what will the result be?
an extent that in almost every large
While some men are willing to join a
Before an answer is given it might be
city may be found a coterie of men who combination they have not as yet had the
well to recall the fact that twenty-two thou-
are engaged in the business of pro- matter presented to them in such a light
sand votes distributed in six States would
moting trusts. They are usually in touch that they can see their positions bettered
have turned the tide Bryan ward in the last
with money brokers who float the stock by sinking their industrial property into a
election. How much more popular with
upon the market, they in turn coming in stock combination.
the people will have become the new issue
for succulent profits and as long as the It is a difficult matter to bring together
by another year; can the answer be given
schemes can be floated their pay is secure the manufacturers of this industry and
now ? All these points should be considered
as well as ample.
still, on the other hand, it would seem in- whether one contemplates a trust move
But how about the stockholder? That is deed strange that the manufacturers of or not.
another storv.
pianos as an industry should remain out-
Every man of intelligent reasoning
side of those influences which have powers should give this matter considera-
T H E R E is no mistaking the fact that the affected so many other lines of manufac- tion, more especially so if he contemplates
country has gone trust mad and that ture.
throwing the work of a lifetime into the
some day not far distant there will occur a
There are few of our industrial lines trust crucible with the expectation of seeing
tremendous reaction and the over-inflated outside of dry goods, boots and shoes, it melted up into greatly multiplied dollars.
trust bubbles will burst by the score.
drugs and furniture which have not been
A milk trust was organized last week with affected by trust combinations. In the IN conversation with a large piano manu-
a capital stock of ten millions with actual furniture trade there have been several at-
facturer of the west this week, he re-
assets of a million and a half. Is not such tempts which have as yet been unsuccess- marked, "When the matter was first pro-