Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
8
THE
MUSIC TRADE
REVIEW
H P HEN on the other hand, we have had men of the Morgan type
THE
•
who have been large contributors to the general distrust
engendered in the minds of the public towards industrial stocks.
They have been conscienceless in their work and have assisted in
the undoing of many.
These two elements have tended to depress
business conditions in certain channels.
EDWARD LYMAN BILL,
EDITOR AND PROPRIETOR.
J. B. S P I L L A N E
MANAGING EDITOR.
XXCCVTIVK STAFF :
THOS. CAMPBELL-COPELAND
OEO. B. KET^LER
W. MURDOCH LIND
A. EDMUND HANSON.
EMILIE FRANCES BAUER
GEO. W. QUERIPEL,
A. J. NICKL1N
Published Every Saturday at I Madison Avenui, Ntw Y o r k . *
' Dnlted State "' Meilcoand Canada - » 3 -°°P er
ADVERTISEMENTS, f 2.00 per Inch, single column, per Insertion. On quarterly or
yearly contracts A special discount la allowed. Advertising Pages f 60.00; opposite
reading matter, $76.00.
REMITTANCES, In other than currency form, should be made payable to Edward
Lyman BUI.
- Entered at the New York Post Office as Second Class Matter.
~~
NEW YORK, OCT. 17, 1903,
TELEPHONE NUHBER, 1743-EIQHTEENTH STREET.
THE
ARTISTS
nra *m
On the first Saturday of each month The Review contains In Its
"Artists' Department" all the current musical news. This Is
effected without In any way trespassing on the sl«e or service
DEPARTMENT of the trade section of the paper. It has a special circulation, and
therefore augments materially the value of The Review to advertisers.
DIRECTORY
or piiun
The directory of ptano manufacturing firms and corpora-
tlons found on page 27 will be of great value as a reference for
MANUFACTURERS d " t a ™ * ° d
Otbm
-
It must be evident to all that the business community must
retrace some of its recent steps to readjust the economical and
social mistakes and thus lead to a more healthful activity. The
propensity to speculate is so interwoven with less hazardous busi-
ness affairs that the grief of stock operators is having an undue
influence on legitimate enterprises and is tending to bring about
extreme caution and conservatism in banking circles.
" T * H I S results naturally in the close scrutinizing of mercantile
paper which always acts as a corrective measure to expanded
and strained credit.
When the sun of prosperity shone brightest
nearly all men were encouraged to expand, until many were doing
from one to five times the amount of business previously transacted
with little if any increase in the amount of capital invested.
They are naturally the first to feel the effects of restricted
credit.
There is no question, but there are men to-day doing too
much business on their capital—their money is spread too thinly,
over too great a surface, and just now is a pretty good time to look
carefully into the cost of everything which enters into the construc-
EDITORIAL,
tion of pianos, and it would seem as if some people have not as yet
lear-ned the actual cost of instruments to manufacture.
That is certainly a very important matter, and the question 1
\ A / ITH the largest corn crop in the country's history, and with
" *
cannot be studied too closely, particularly at the present time.
other important crops well up to the yield of former years,
there is no reason why business should not continue good, even if
By the way, have you heard any regrets at the failure to form
a piano trust?
Wall street does not emerge from its pessimistic frame of mind.
Busy factories are a mighty sight better than a busted trust.
The great agricultural interests of the country are the most
important ones, and while the resources of many people are affected
- p ' H E R E is no question of dull times with the piano men through-
out the country.
by the decline in industrial stocks, yet the purchasing power of the
They are doing business, plenty of it, and
country is enormous, and piano merchants everywhere are sure of
it is to be hoped that the recent destruction by fire of important
an excellent fall trade.
supply factories will not seriously retard the factory shipments of
Much prominence has recently been given to the unfavorable
pianos.
Many institutions were fortunate enough to have a good
developments of the business situation, so that it may be just as well
reserve stock of supplies on hand, and they will not feel the neces-
to point out some of the features of strength.
sity of more for some time to come, but unfortunately, however,
We have good crops and splendid resources, and there is no
reason for declaring the business outlook unsound where the ele-
there are others who were not so well provided with plenty of re-
serve stock.
ments of such a catastrophe could not exist.
' I "HE tendency of firms engaged in the same line of business to
T""*HE movement of general merchandise is still heavy, most of
*
the railroads having already more than they can handle con-
veniently. The outlook for the early movement of the crops is better
flock together is again illustrated by the location of a number
of piano concerns within a stone's throw of each other in many new
Western towns.
than for months. The grain and hay yields of this year have been
satisfactory, if not the largest in history.
The shortage of cotton
is compensated for by increased market prices.
Go where you will in America and it will be observed that the
piano stores in every city are grouped together on one street. They
are all good fellows who like to get within call of each other.
If the union leaders will recognize the present conditions and
They would be lonesome out of hailing distance.
assist rather than antagonize employers, increased confidence would
result in increased industrial activity and a larger volume of busi-
TT is gratifying to see in our travels the steady trend toward the
ness.
*
The consequences of the demands and exactions of labor
one price system among the piano merchants everywhere.
We
unions have been the higher cost of all manufactured articles. In-
have noted recently men, who years ago were extremely elastic in
creased cost of living, higher transportation charges and, finally,
their prices, but who have now lined up to the non-flexible point.
the collapse of building operations, and the checking of industrial
They are talking one price, and what is better, they are living up
enterprises throughout the country.
to it pretty closely.