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fHE MUSIC TRADE REVIEW
tomers, for it is cash which talks most elo- country have had a surplus of equipment.
quently in all the varied walks of life. There has not been business enough to call
Instead of elongated and oftentimes un- for all the freight cars they could put on.
profitable installment sales, it will be, in Many of the cars were allowed to remain
fact it has almost become, a necessity to idle in the sheds and yards.
place stronger emphasis as well as harder
Now the situation is reversed. The
TWENTY-FIRST YEAR.
EDWARD LYMAN BILL.
work upon securing more cash business great trunk lines, particularly in the West,
Editor and Proprietor
than heretofore.
are complaining that they cannot get
There is in the public mind a well-estab- enough railroad cars to accommodate the
PUBLISHED EVERY SATURDAY
lished belief that pianos can be bought for demands made upon them. Not only are
~~
3 East 14th St., New York
little or nothing down and any old thing a the cars coming East with the crops of
SUBSCRIPTION (including postage), United States,
Mexico and Canada, 92.00 per year; all other countries,
month. It is this very principle, backed prosperous farmers, but they are going
$300.
ADVERTISEnENTS, $2.00 per inch, single column, per
up by the absence of a one-price system, back filled with merchandise supplied from
insertion. On quarterly or yearly contracts a special dis-
count is allowed. Advertising Pages $50.00, opposite read-
which has encouraged the public belief in factories that are working overtime. There
ing matter $75.00.
REMITTANCES, in other than currency form, should
be made payable to Edward Lyman Bill.
the idea that there were abnormal profits are 1,300,000 freight cars in use on 187,000
Entered at the New Fork Post Office as Second Class Matter.
in the piano business. Now, the quicker miles of railroad in this country, and man-
NEW YORK, SEPTEMBER 23, 1899. that belief is shattered and the business is agers of some of the trunk lines say that
TELEPHONE NUMBER, 1745—E1QHTEE1NTH STREET.
reduced to a solid, consistent basis, the they could use 10,000 more cars if they
THE KEYNOTE.
better it v/ill be not only for the manufac- could get them.
The first week of each month, The Review wilt
turers but for the entire retail trade of
The lack of cars for passenger service is
contain a supplement embodying the literary
and musical features which have heretofore
the
country.
Installment
sales
must
be
proportionately
as great, but not as severe-
appeared in The Keynote. This amalgamation
will be effected without in any way trespassing
made—that we expect—but they should ly felt. The great famine may be explain-
on our regular news service. The Review will
be healthy sales; and, again, the business ed on the basis that the volume of increas-
continue to remain, as before, essentially a
trade paper.
should be placed on nearer a cash footing ing business has simply overwhelmed the
than it is at present.
railroads.
ON A CASH BASIS.
With the tremendous increase in the
Some piano manufacturers have told us
'"THERE is a manifest disposition on the
volume of circulating currency, there is no that during the last ten days they have
part of manufacturers throughout the
reason to-day why money should not figure experienced much inconvenience in getting
United States to put their business on
more largely in piano sales. We have cars promptly. The fact is there is a
nearer a cash basis. That this tendency is
fallen into the installment rut, and now dearth of cars, just as there will be of
extending to the music trade there is no
that good, generous, inspiring times are pianos as the season advances.
doubt whatsoever, and it means that busi-
again with us, it is well to extricate our-
ness will be run upon healthier lines than
selves from that unfortunate and unprofit-
THE TRUST CONFERENCE.
heretofore.
able position. Let us have more work for
For years comparatively few men have cash. This is going to be the best fall \ I 7HILE the great trust conference which
was held in Chicago last week ad-
been able to insist upon short terms of pay- that America has ever seen in an industrial
journed without reaching any formal con-
ment, partly because of the wide-spread sense.
clusions, or without passing or attempting
financial stringency and partly because of
to pass any resolutions as to evils and rem-
the excessive competition for business which
WHOLESALE TRADE.
brought about all manners of concessions
A ROUND of the factories throughout edies, it cannot be doubted that the bring-
to customers in the way of terms, etc.
the country will disclose the intelli- ing together of such a heterogeneous as-
The great increase in the demand for gence that there is a dearth of accumulated semblage, embracing trust magnates and
manufactured products has afforded an op- finished stock on hand. The summer call labor leaders, statesmen and students of
portunity for introducing reforms in busi- for instruments has been surprisingly large economics, politicians and preachers, on
ness methods, while the advent of numer- and has prevented the accumulation of in- one common platform, and the light which
ous industrial consolidations has supplied struments necessary to meet the anticipated they have thrown through their addresses
on the trust question, should be prolific of
the power to put them in force, one of the early fall demand.
most notable of the changes thus brought
Some of the largest manufacturers in the good results, even if no definite proposi-
about being the terms upon which iron and East inform us of their inability to meet tions or panaceas have been forthcoming.
The main benefit of the conference, ac-
hardware are sold, there being a tendency the present demand for instruments, and
cording
to all the leaders—Mr. Bryan, Mr.
among manufacturers to adhere strictly to as far as the future goes, they are entirely
net thirty day terms without discount for at sea as to how they are going to handle Cockran, Mr. Foulke, Dr. Albert Shaw, Mr.
Wooten, of Texas—is the enlightenment
the holiday rush.
cash.
Now this disposition must be assuring
Months ago The Review predicted just of the whole country as to the intensity
to the business element of the country, in this state of affairs, and the manufacturer and wide reach of the sentiment against
that such a course removes the possible who has not made all the preparations corporate corruption and aggression.
These delegates from all parts of the
danger which is liable to come from over- which lay within his power to meet his
booming or purely paper business. Busi- trade this fall has not acted wisely. All country, leaders of public sentiment, have
ness men can crowd on all the steam that indications point to an active fall, and it is taken home with them new views and new
it is possible when cash is pouring into the wise ones who arranged their business ideas that cannot fail to shape and modify
and clarify their own views and the views
their coffers instead of long-drawn and on those lines.
Activity extends to all industries. Rail- of those whom they address.
much-renewed notes. Piano dealers must
The great oratorical contributions at the
note this tendency and govern their acts roads to-day are overcrowded, a condition
accordingly. In other words, they must which has not existed for years. For many conference were those of Bourke Cockran
work harder to get in cash from their cus- years the great railroad systems of the and W. J. Bryan. The former considered