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THE
MWfW
ffUflC TIRADE
VOL. XLVI. No. 8
Published Every Saturday by Edward Lyman Bill at 1 Madison Ave., New York, February 22, 1908. SINGL $ E ».OO 0 PE! S VE 0 AR CENTS
IS THE MONEY WASTED?
A Form of Publicity Which Does Not Always
Pay, but Which Is Frequently Indulged in
by Members of the Music Trade Industry—
Direct Advertising Through the Trade and
Daily Press Gives Sure Results While Circu-
lar Work Is Time and Money Wasted.
try wake up to the above facts the frightful
waste of money and effort, as represented by cir-
culars, etc., will be stopped and a deeper appre-
ciation of the true value of news and trade paper
advertising will prevail.
on the part of their creditors, to resume business
at an early date. The financial stringency, slow-
ing up of orders and the persistent claims cf one
or two creditors are blamed for the present condi-
tion cf affaiis.
THE KNABE RHEjNGOLD PIANO
CHECKS ON_FAILED BANKS.
An
Art
Creation
Which
Is
Winning
the
In the piano trade, as indeed in many other
Plaudits of the Leading Art Critics.
industries, there are some who still believe in
circulars as a mode of publicity. If the men who
The cover of a special art piano, entitled "The
employ them extensively for the purpose of mak- Rheingold," which has been on exhibition in th£
ing sales of goods or manufactured articles would windows of the warerooms of Wm. Knabe & Co.,
sit down and do a little hard thinking they would Fifth avenue and 39th street, has attracted con-
doubtless save themselves a lot of trouble and siderable attention. It is a superb piece of deco-
a considerable sum of money each year. But, un- ration, being in white mahogany and gold and
fortunately, they are too busy with other matters illuminated with a very handsome painting by
to devote much thought to the subject of adver- Francis Sullivan. The design is fanciful and
tising; so they hire, somebody to look after the depicts three nymphs in the depths of the Rhine
department and let it go at that. According toi circling round the glimmering gold, while Alber-
the Editor and Publisher there seems to be ich, the dwarf, peers at them from behind a
prevalent an idea that circulars are the cheapest cluster of seaweed. The effect is most pleasing,
and best mediums for reaching the public, and" aesthetically. It is a work of art in the truest
that if they are well written and beautifully tense of the word and a creation of which Wm.
Knabe & Co. can feel justly proud. It is another
printed they will pull business out of a stone.
How many of those who cherish this fond of the many examples of the splendid work of a
delusion have definite facts to support it? Not special or art nature in the realm of piano-
one in a hundred. In some lines of business, es- making which can be credited to Wm. Knabe &
pecially in me retail trade, good results have Co. within recent years. Their art department
been secured from an intelligent use of circulars, is well equipped for creations such as this,
but experience has shown that in approaching and they are now working on a numoer of special
manufacturers, wholesalers, jobbers and others instruments for private houses, which will add
who conduct large commercial enterprises they still further to their reputation.
are almost worthless.
When the executive head of one of these es-
THAT UNIFORMJBILL OF LADING.
tablishments examines his mail in the morning
he finds that from 25 to 50 per cent, of the mat- An Agreement Covering Shipments in Eastern
ter he has received consists of fancy cards, elab-
Classification Territory Come to Between the
orate folders, artistically printed circulars, book-
Railway and Shipping Interests and the In-
lets and calendars.
terstate Commerce Commission.
The most of these, if not all, are at once con-
signed to the waste basket after the first glance
A recent conference between representatives
without reading. The busy man at the desk cf railway and shipping interests and Chairman
hasn't the time to examine them; other things Knapp, of the Interstate Commerce Commission
demand his attention. The cost of the adver- resulted in an agreement upon a uniform bill of
tising matter thus thrown away unread in this lading covering shipments in the eastern classifi-
one office will average at the lowest estimate cation territory—i. e., over all railroads east of
from $5 to $10 a day. Multiply this by the thou- the Mississippi and north of the Ohio rivers.
sands of other offices and some idea of the waste George Brownell, of New York, represented the
of expensive printed matter may be obtained.
railroad interests, while Levy Mayer, of Chicago,
How, then, can the advertiser get the attention appeared for the shippers. The settlement was
of the men he desires to reach? Through the only reached after many conferences, and it prac-
newspapers and the trade papers. If he will ticany means that in future bills of lading will
frame up his selling arguments in attractive be accepted as commercial paper. It is believed
form and then place them in the evening or the that the agreement will eventually cover all rail-
morning newspapers he can rest assured that roads in the United States.
they will be seen and read by the very men who
refuse to examine his circulars. The trade
ASSIGNMENT OF BURDETT PIANO CO.
papers are rao^t valuable in reaching definite
(Special to The Review.)
classes of people. They are selective. Only those
Monroeville, O., Feb. 15, 1908.
buy them who are directly interested in the par-
ticular business they represent. Hence the ad- In order to conserve their assets for the benefit
vertiser knows when he puts his announcement of all the creditors the Burdett Piano Co., of this
in one of them, providing, of course, that it is a city, made an assignment on Wednesday to
representative publication, that every copy Messrs. Edward Martin, president, and Joseph
Stoughton, vice-president, of the company. The
of the paper reaches a possible customer.
There is no waste circulation. Every sub- liabilities approximate $60,000 and assets $100,-
scriber is a live, progressive business man who 000. The officers of the company In a statement
wants to be posted in the news of the trade.
claim to own the factory building and equipment
Just as soon as the business men of tbe cpun,
unencumbered, and expect, wlt& a little leeway
Court Decisions Put the Loss or the Drawee if
He Delays Collection.
Since the suspension of the banks and trust
companies that got into deep water at the time
of the October financial disturbance the question
has frequently been raised in commercial circles
as to the status of a giver and receiver of a
check on a banking institution which may have
closed its doors between the time the check was
drawn and the time of its presentation for pay-
ment.
A check, as is well known, is not legal tender,
and may be refused by the person to whom it is
tendered. It has been held, however, that if a
check is so received and is held for an unneces-
sary time without being deposited and without
notification to the drawer that is not accepted,
the drawee is put in the position of having ac-
cepted it. The court decisions applying to case!
where an institution has suspended payment aro»
in line with this doctrine. It has been held in
the leading cases in this and other states that
if a check is sent and deposited for collection by
the drawee immediately or within a reasonable
time and the bank suspends payment before it io
paid, the loss falls upon the drawer. If, on the
other hand, the person to whom the check is
drawn fails to deposit it for collection within
what the court deems a reasonable time, it is
held that the loss falls upon the drawee an1 that
the drawer may be deemed to have paid his ob-
ligation.
There is no legal rule as to what constitutes
a reasonable time. The matter is one which the
courts have uniformly undertaken to determine
according to the facts in each case.
F. S. SANTWER & CO. INCORPORATE,
F. S. Santwer & Co., Inc., compose:! of mem-
bers of Hughes & Son Piano Manufacturing Co.,
Foxcraft, Me., have incorporated with a capital
of $20,000 for the purpose of conducting a retail
piano business in St. Albans, Vt. The officers
are J. F. Hughes, president; Ralph W. Hughes,
secretary, and F. S. Santwer, treasurer and man-
ager. Mr. Santwer has long been the Hughes
& Son representative in St. Albans.
CREDITORS TO MEET.
Henry L. Borden, referee in bankruptcy, an-
nounces that there will be a meeting of the
creditors of the England Organ & Piano Co.,
bankrupts, Room 2, South Texas National Bank
Building, Houston, Tex., Feb. 25, 1908, at 10 a. m.,
for the purpose of examining the bankrupts and
transacting such business as may come before the
meeting.
Aithur A. Allen, a piano dealer of Greenfield,
Mass., recently filed a petition of bankruptcy,
with liabilities of $4,867,16 ana assets of f 3,100,