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THE
MUSIC TRADE
REVIEW
EDWARD LYMAN BILL - Editor and Proprietor
J. B. SPILLANE, Managing Editor
Executive and Reportorlal Stall:
GBO. B. KBLLBB,
B. BRITTAIN WILSON,
W. H. DYKES,
A. J. NICKLIN,
L. K. BOWERS,
WM. B. WHITE.
R. W. SIMMONS,
AUGUST J. TIMPB.
BOSTON OFFICE:
CHICAGO OFFICE:
E. P. VAN HARLINGKN, 156 Wabash Ave.
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Telephone, Oxford 1151-1.
PHILADELPHIA:
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Music Section.
Player and
An important feature of this publication is a complete sec-
tion devoted to the interests of music publishers and dealers.
Departments conducted by an expert wherein all ques-
tions of a technical nature relating to the tuning,
Tlonoi*f tnonflc
regulating and repairing of pianos and player-pianos
I f c p d l IUieill&. are dealt with, will be found in another section of this
paper. We also publish a number of reliable technical works, information concerning
which will be cheerfully given upon request.
Exposition Honors Won by The Review
Grand Prix
Paris Exposition, 1900
Silver M ed a I. Charleston Exposition, 1902
Diploma..Pan-American Exposition, 1901
Gold Medal.. .St. Louis Exposition, 1904
Gold Medal
Lewis-Clark Exposition, 1905.
LONG DISTANCE TELEPHONES-NUMBERS 4677 and 4678 GRAMERCY
Connecting all Departments.
Cable address: "Elblll. New York."
NEW
YORK,
OCTOBER
1, 1910
EDITORIAL
REVIEW
pianos, which, according to an old-established tradition of the trade,
were more or less conflicting.
In other words, pianos of an artistic grade like the Chickering
and Knabe, and pianos which are colloquially termed commercial
pianos, like the Foster-Armstrong line; yet the events of the past
two years have annihilated those traditions and to-day activity pre-
vails in all of the great factories controlled by the American Piano
Co., and such a demand has been created for the product that each
one of the factories will surpass any output on record of previous
years, provided the same activity is maintained during the remainder
of the year.
In brief, the American output is growing all the while.
Then, too, the retail establishment conducted at 39th street and
Fifth avenue, New York, is transacting a volume of business which
would surprise the uniirtiated and it is safe to say that during the
next year a million dollars worth of musical instruments will be
retailed from the warerooms of Wm. Knabe & Co.
It may be stated further that the semi-annual interest has been
promptly paid on the stock of this company, so the piano business
from certain viewpoints affords possibilities of expansion for men
who view its future broadly.
The physical equipment of the various factories owned by the
American Piano Co. was never so high as at the present time, and
other specialty concerns, such as the Electrelle Co., have become a
part of this great corporation, which to-day controls large branches
both at home and abroad.
It would seem, therefore, that the piano business has possibili-
ties for those who appreciate its future and act accordingly.
H E R E has been considerable discussion regarding the automo-
bile as a deterrent power to the legitimate interests of trade.
Some piano dealers do not hesitate to affirm in the strongest
possible terms that the automobile has been a business-killer in the
largest sense.
There is no question that thousands of men operate automo-
biles who arc not in a financial position which warrants them in
doing so.
The comparative output of automobiles and pianos will be in-
teresting.
The output of automobiles in the L'nited States last year was
estimated at 210,000 cars, with an average value of $1,250 each.
The estimates for HJIT place the output at 300,000, with about
the same average value.
The output of pianos last year is closely approximated at
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340,000.
This year, owing to rather a stagnant trade during the first
three or four months of the year, it is somewhat problematical as to
just whether last year's record will be surpassed or not.
RADE is showing a steady improvement and collections are
We have still three or four months ahead and ii is a little too
growing steadily better.
early
to make predictions, but it is safe to say that nearly 100,000
One of the leading financial men in the East, while recently
more
people will buy pianos than will buy automobiles, but when
discussing business conditions with The Review, remarked that he
you
consider
the difference in the cost is it not amazing how the
looked for a good many pleasing surprises in the business world
automobile
has
taken serious hold upon the American people.
this fall.
There
are
plenty
of indications that it is time for the average
He stated that he considered that trade conditions would grow
American
to
stop
and
think.
In the city of Minneapolis, it appears,
steadily better each month, showing a decided improvement in the
one
automobile
firm
holds
mortgages
on 1,500 homes. In a South-
character of business over the previous year.
western
city
the
amount
of
mortgage
liens against property held in
In other words, he did not view the present situation as afford-
the
hands
of
automobile
dealers
and
manufacturers was so great
ing cause for distrust in the financial and business future of the
that
banking-houses
who
were
asked
to
handle municipal bonds of
country.
the city refused to have anything to do with them. In one of the
best middle-class suburbs of New York, where for years, through
normal times and panic alike, there has been a steady demand for
HE piano industry is expanding—men are taking larger views
homes, not a single home-property has changed hands in four
of its future possibilities and to-day we have in this industry
months past; and the dealers in real estate are of the opinion that
a number of great corporations whose annual business totals figures
there will not be any recovery until the craze for automobiles passes
which would be astounding to the men who predicted a quarter of
a century ago that all of the people in this country would be sup- into history.
In Westchester County, one of the richest suburban sections
plied with pianos by 1910.
around
New York City, the County Bankers' Association has gone
Take the American Piano Co., for instance.
on
record
in a warning to its members to refuse, wherever possible,
It is now more than two years since the formation of this
accommodations
to borrowers who want the money to buy automo-
corporation, which took over a number of well-known piano corpo-
biles
for
pleasure.
In Newark, N. J., a bank officer is quoted as
rations and consolidated the business into one directing organization.
saying
that
the
savings
institutions for months past have been losing
The American Piano Co. was organized with an authorized
deposits
to
patrons
who
were intending to buy machines. The sales-
capital of $12,000,000—$6,000,000 of which was preferred—$6,000,-
men
for
the
bond-houses
report the same condition, and say that
000 common.
they
find
it
impossible
to
sell
good bonds in communides where the
Various predictions were made at that time regarding the im-
automobile craze has taken hold,
possibility of one management creating and marketing lines of
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