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THE MUSIC TRADE REVIEW
Dold is Under Arrest.
Foreign Trade Statistics.
CASH OR CREDIT?
[Special to The Review.]
THAT OF THE UNITED STATES LAST YEAR EX-
CEEDED TWO BILLIONS OF DOLLARS.
CHAS. H. PARSONS' VIEWS ON THIS IMPORTANT
MATTER A CASH BUSINESS WOULD PLACE
THE INDUSTRY ON A HIGHER PLANE
THE TENDENCY THIS WAY
FOR THE PAST YEAR.
Chicago, Jan. 17, 1900.
Charles Dold, business agent of the
Piano and Organ Workers' union, was ar-
rested yesterday by a Desplaines street
police officer on a charge of disorderly
conduct. The warrant upon which he was
arrested was sworn out by Frank Perlick,
who is employed as a packer in the George
P. Bent piano factory, and who declares
he was approached by Dold yesterday
morning while going to work and later to
have been assaulted by several members
of the union. Dold gave bonds for his
appearance in court.
The /Eolian Co.'s New Factory.
[Special to The Review.]
Westfield, N. J., Jan. 16, 1900.
The site for the new factory of the
iEolian Co., has been staked out by Civil
Engineer F. B. Ham, of Cranford. It
consists of nearly eight acres of ground
east of the Union County Hotel on North
avenue, the county road. The property is
all located on the north side of the Central
Railroad tracks, and is especially accessible
for shipping.
The contract to build the factory has, it
is understood, been awarded the Wales-
Lines Construction Company, of Meiiden,
Conn. Mr. Votey has been in this section
several times of late, and was at Garwood
on Monday and Wednesday. It is believed
the factory will be erected under his super-
vision.
Mason & liamlin Meeting.
The annual meeting of the Mason &
Hamlin Co. of New York, was held in the
warerooms on Tuesday. The officers of
1899 were re elected by a unanimous vote.
The following are the officers of the Mason
& Hamlin Co. for 1900: President, E. P.
Mason; vice-president, H. L. Mason; treas-
urer, W. P. Daniels ; secretary, C. E.
Brockington.
Hr. L. P. Bach's Report.
Louis P. Bach, of Kranich & Bach,
when asked by The Review yesterday as
to the total output of K. & B. Grands and
Uprights in 1899 as compared with 1898,
reported that the increase was large. Pres-
ent conditions were stated to be entirely
satisfactory and the prospects for 1900 ex-
cellent.
After the Trusts.
Albany, N. Y., Jan. 17, 1900.
Assemblyman James J. Fitzgerald has
introduced a bill which requires every cor-
poration, including trusts and manufactur-
ing companies, to file a report on July 1 of
each year with the Secretary of State and
the County Clerk of the county where its
place of business is situated. The report
must include a statement of the amount of
capital stock and proportion actually issued,
amount of debts or an amount which they
do not exceed, amount of assets, amount
of dividends.
The foreign trade statement of the
United States for the year 1899 exceeds
$2,000,000,000. The total foreign trade,
including exports and imports in 1890, was
$1,647,129,084, rising gradually to $2,075,-
321,261 last year. There has been only
one year in the past ten in which there was
an excess of imports. This was in 1893,
when imports exceeded exports by $18,-
735,728. The largest excess of exports
Charles H. Parsons, president of the
Needham Piano & Organ Co., when asked
by The Review on Thursday if he did not
think a nearer approach to a cash business
in piano sales, both wholesale and retail,
would be advantageous to the industry and
place it on a higher commercial plane, re-
plied that from his point of view, there
was in 1892, $202,750,000; 1894, $237,000,-
could
only be one opinion on that subject.
000; 1S97, $357,000,000; 1898, $620,500,000,
"When
it comes to a question as to
and 1899 $475,500,000. T,he total excess
which
is
the
most preferable—cash or
of exports in ten years has been $2,162,-
credit?"—said
he,
"there is but little room
166,916.
for
discussion,
looking
at it from the stand-
The balance of trade in favor of this
point
of
the
seller.
He
prefers cash every-
country in the past ten years has been over
day
in
the
week
and
every
week in the
$1,453,000,000. In the last two years the
year.
My
reply
is,
therefore,
that a nearer
net imports of gold have been about $209,-
approach
to
a
cash
business
would cer-
000,000 and the exports $61,000,000, leav-
tainly
be
advantageous.
Credit,
in some
ing the net payment in gold on account of
of
its
phases,
is
not
without
baneful
influ-
something more than $1,000,000,000 ex-
ences
and
effects.
For
this
reason,
among
cess of exports of merchandise only about
$148,000,000. This balance represents the others, a nearer approach to a cash busi-
sums which have been paid for freights, the ness would place the industry on a higher
sums taken abroad by tourists, the pay- commercial plane.
"There is bound to be an irreconcilable
ment of interests and dividends abroad
division
of opinion on this subject, how-
and sums paid for the purchase of stocks
ever,
between
seller and buyer. On the
and bonds abroad. The extent of the bal-
buyer's
part,
it
may be urged that the na-
ance remaining due can only be con-
ture
of
the
retail
piano business frequently
jectured.
calls for the establishment and mainte-
nance of a credit system, and that.it is not
Piano Swindlers Operating.
an equitable proposition to buy for cash
and sell on long time. Yet when this buy-
[Special to The Review.]
er wheels around, faces his customer and
Wooster, O., Jan. 17, 1900.
becomes,
in his turn, a seller, his views
During the past month a gang of swind-
and
mine
as to the preference of cash over
lers have been operating throughout this
credit
agree
identically."
section and their methods of doing busi-
"
Mr.
Parsons,"
inquired The Review,
ness are just now being revealed. There
"supposing
the
dealer
does believe credit
seem to be four members of the gang
beneficial,
does
he,
in
these
days of pros-
headed by a man named Francis, and their
perity,
give
evidence
of
desiring
to shorten
present headquarters are at Wooster, but
his
credit
by
avoiding
renewals
and
exten-
in a few days they will move to newer and
sions
?
"
greener fields.
" I n a number of instances within my
Their modus operandi was something on
personal
view," was the response, " t h e
the following order. They would repre-
tendency,
especially within the past twelve
sent to the unsuspecting victim that they
months
or
more, has been toward shorten-
could sell him a high-class piano for $75,
ing
of
credit
and, whenever possible, pay-
including a fine piano stool. All they
ment
of
cash
in order to secure the im-
asked was to have him sign a permit to set
mediate
benefits
always obtainable by those
the piano in the house in order to give it a
who
adopt
that
course."
trial and satisfy himself that they were
Mr. Parsons, when asked as to trade con-
not misrepresenting the instrument. While
ditions,
past, present and future, with ref-
the farmer was signing the permit he was
erence
to
the Needham Pianq & Organ Co.,
in reality signing a note for $300 and
answered
that 1899 has proved to be the
probably thirty or sixty days after the
best
for
business
within his knowledge.
piano was delivered the note would turn
He
further
stated
that
present conditions
up at one of our banks or in some innocent
are
all
that
can
be
desired,
and said that,
purchaser's hands and of course all the far-
mer can do is to walk up to the captain's so far as it is possible to look into the fu-
ture, 1900 promises to be as productive of
desk and liquidate.
good results for the Needham firm as was
the year just ended.
M. Sonnenberg, of the M. Sonnenberg
Piano Co., Kranich & Bach representatives
R. H. Benary and Herman Levine, pro-
in New Haven, was in town this week.
The Sonnenberg firm are firm believers in prietors of the Metropolis Musical Instru-
the merits of the Kranich & Bach products, ment Co., 312 East Seventy fifth street,
and have done much excellent work in this city, have dissolved partnership. Mr.
behalf of the K. & B. instruments in that Benary has become proprietor of the con-
section.
cern.