Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
15
THE MUSIC TRADE REVIEW
DANGER SIGNALS IN CREDITS.
Some Peculiarities of Customers Related by Chas.
D. Wettach—The Danger of Juggling With
Creditors' Money—Some Conclusions.
It is remarkable how some customers pay
their acounts with one firm and how lax
they are in settlements with others. A few
days ago an order was received from a
dealer in New York State who gave two
references. One stated that the party in
question had been dealing with them for
five years or more, was satisfactory in his
accounts, and that they extended him a
liberal line of credit and considered him
good for his wants, was conservative and
used good judgment in buying. The other
party referred to stated almost the oppo-
site, by saying that although the applicant
had been a customer for some little time,
he was invariably slow, owed them for an
account many months past due, which they
were trying to get settled, but believed him
responsible for a small amount. Now, then,
when information of this kind comes to
hand, about the only thing you can do is to
try to guess which will strike your case,
and if the mercantile agencies can give you
a little better information than the last ref-
erence, undoubtedly you will grant the credit.
Then you will watch that account for a
long time, and if he orders any more goods
you will become suspicious of him, and when
his account becomes due and he does not
pay it and fails, you will say, "Just as I
thought it was."
It also appears that where a customer has
been dealing with a house for many years
and has received various accommodations
in the way of renewal on notes, he frequently
becomes careless, and thinks that the money
which should go to pay his maturity paper
can be applied to other sources without ask-
ing the consent of his creditor, and takes it
as a matter of course. This method of jug-
gling with money belonging to the creditor
should be stopped in its incipiency, as, if
it is allowed to continue, the creditor will
always be the loser. In this respect it may
be wise to quote an actual experience regard-
ing a customer who at maturity of his ac-
count gave notes. At maturity some of the
paper waj paid, others in part, and some
renewed in whole. It so happened that a
note which was renewed in part, through
some error of the bank, was presented at
the debtor's bank for payment and was
paid; after a week had passed it was brought
to the notice of the debtor, who knew noth-
ing of the payment until notified; then, of
course, followed demands for an explana-
tion, which naturally appeared rather lame.
At any rate, it made a customer who will
not ask for unnecessary accommodations.
The debtor who is accustomed to the drink-
ing habit is the one who must be looked
after quickly, as it is an undoubted axiom
that he will neglect his business affairs, and
when such knowledge comes to the creditor
it is important that credit be withdrawn and
the account closed as quickly as possible,
otherwise it will prove costly. In this con-
nection it may be related that a few weeks
ago, having sent a new salesman over a
portion of territory in which was located
a customer who formerly had met his ob-
ligations as promptly as could be expected,
the salesman learned that the debtor was ac-
customed of late to frequent the hotel bar
and neglect his affairs, the result of which
was the bank from which he had a small
loan refused to renew it because of his hab-
its, which were becoming very loose. The
result was that an assignment took place,
and a few creditors are mourning for the
payment of their accounts that will never
come to pass.
So that, in conclusion, it will be observed
that the debtor who uses the money or goods
belonging in whole or in part to another
in any but a legitimate way, is very liable
to undermine his reputation, and the result
will be financial disaster.
In this period of our civilization, where
trade is the result of close margins of profit,
more the result of opposition than compe-
tition, the qualities of integrity and stabil-
ity are those which make a good, substantial
and profitable customer.
FLATHER OF MERRILL FAME.
H. E. Flather, of the Merrill Piano Man-
ufacturing Co., Lawrence, Mass., was a vis-
itor within our gates during the week. "I
am homeward bound," said Mr. Flather in
The Review sanctum on Tuesday, "from a
Western trip, taking in on my way the T a n '
at Buffalo. The latter is indeed well worth
a visit. It can hardly be surpassed from
the viewpoints of picturesqueness and archi-
tectural completeness.
"Yes; we find business satisfactory for
this season and look forward to a great de-
mand the coming fall for the Merrill piano.
The six months just closed showed a grat-
ifying percentage of increase in our trade,
and we naturally feel encouraged over the
outlook.
"It is a good sign of the times when peo-
ple evince appreciation for artistic pianos
such as the Merrill—it means prosperous
conditions and a willingness to recognize
merit and not merely price."
Regarding trust talk, Mr. Flather said:
"I have heard considerable of it on my trav-
els, but have not met one who 'takes stock'
in it seriously. The manufacturers appear
to be content at present and are willing to
paddle their own canoes. What the future
will unfold—well, 'that's another story.' "
BUSY SOL GROLLMAN.
Has Just Closed the Biggest Six Months' Trade in
the History of His Business.
Sol Grollman, the piano stool and cover
man, is one of the busiest men in Chicago.
There seems to be no let up to the expansion
of this concern. The first six months of
1901, which just came to a close, were the
best since Mr. Grollman started in business.
As Mr. Grollman recently said to The Re-
view, "I can ascribe my success only to the
fact that I aim to please my customers both
in the quality of my' goods, in charging fair
prices, and by shipping all orders the day
they are received. No doubt my customers
like my way of doing business as it is on
the increase every day. Why, for the past
year we have worked almost every night so
as to carry out this policy. I have now in
stock the largest line of stools and scarfs,
benches, chairs and rubber covers of any
house in the world. This may sound 'big'
but it is a fact. My customers include every
section of the United States, as I take pleas-
ure in sending scarfs on selection."
Mr. Grollman anticipates a very satisfac-
tory fall trade.
MR. KEELEY GOES TO THE PACIFIC.
Wm. J. Keeley, of the Wilcox & White
Co., started on Wednesday for California.
Mrs. Keeley accompanies him. They expect
to return within a month, calling at the
Exposition on their way back. During the
trip Mr. Keeley will transact considerable
special business in behalf of the firm.
BALDWIN EXPANSION.
The Eastern trade of D. H. Baldwin &
Co. has been much strengthened since spe-
cial attention was first given to its cultiva-
tion. The merits of the Baldwin products
are being widely recognized by prominent
artists in several of the leading Eastern cit-
ies, notably New York, where a special ex-
hibit of Baldwin pianos has been on view
for several months. Latest reports from the
factories show that the Baldwin interests
throughout the country are iu a condition
of healthy expansion.
LOCATED IN PIANO ROW.
The Bush & Gerts Piano Co. have secured
retail quarters on "piano row," Chicago.
East week they leased the building recently
vacated by the Emerson Piano Co., at 207
Wabash avenue. This department of their
business will be in charge of Jos. T. Leimert.
Enterprise with a great big U E" seems to
be the policy of Bush &«Gerts these days.
POINTERS FROM AN ORIENTAL.
The Oriental is popularly supposed to be
wily, supple and secretive. Yet Wu Ting
Fang, the representative of China in the
United States, is remarkable for his frank-
ness. Whether it be the dress of the Occi-
dental women or the preference of a well-
known politician for "single blessedness,"
Mr. Wu does not hesitate to say what he
thinks of it. He was equally outspoken the
other clay in addressing the New York State
Bankers' Association. "You've got a good-
sized trade with China," he said in effect,
"but your business is done through Euro-
pean or other merchants. One would think
that in a great international business center
like Hong Kong some American firms would
be established, but your own Consul reports
not a single firm in the colony. Why don't
you Americans establish not only a business
house in Hong Kong, but also an American
bank elsewhere in China?"
That is what ought to be done not only
in the Flowery Kingdom, but also in Cen-
tral and South America. Excellence of prod-
uct is an important item in the sale of goods
abroad, but it cannot offset slow, difficult and
uncertain methods of money exchange.
William Doherty, head of the firm of
Doherty & Co., organ manufacturers, Clin-
ton, Ont, left last week on a tour of Great
Britain and the European Continent. Be-
fore his departure he was entertained by
his employees, who made him several val-
uable presents.