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THE
MUSIC TRADE
REVIEW
EDWARD LYMAN BILL - Editor and Proprietor
J. B. SPILLANE, Managing Editor
Executive and Reportorial Staff
GLAD. HENDERSON,
A. J. NICKLIN,
AUGUST J. TIMPE,
B. BRITTAIN WILSON,
W M . B. W H I T E ,
W. H. DYKES,
L. E. BOWERS.
BOSTON OFFICE:
CHICAGO OFFICE:
E. l\ VAN HARLINGEN, 37 South Wabash Ave.
Telephone, Central 414.
Telephone, Main 6950.
Room 806.
PHILADELPHIA:
MINNEAPOLIS a n d ST. PAUL:
ST. LOUIS:
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ADOLF EDSTEN.
SAN FRANCISCO:
CLYDE JENNINGS.
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CINCINNATI, O.: JACOB W. WALTERS.
BALTIMORE, M D . : A. ROBERT FRENCH.
LONDON, ENGLAND: 1 Gresham Buildings, Basinghall St., E. C.
W. LIONEL STURDY, Manager.
Published Every Saturday at 1 Madison Avenue, New York
Entered at the New York Post Office as Second Class Matter.
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REMITTANCES,
in other than currency forms, should be made payable to Edward
Lyman Bill.
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, reg-
Tp(*hnif*9l f l o n a r f i n o n f c
ulating and repairing of pianos and player-pianos are
I C l l l l l l i a i l f t f f d l IIUC11IS. d e a l t ^ v i t h i w j n b e f o u n d j n 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 Medal. . .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 a l l Departments.
Cable address : "Elbill, N e w York."
NEW YORK,
NOVEMBER
4, 1911
EDITORIAL
T
HERE is no article to-day created by human hands which car-
ries with it a greater advertising value for its makers than
the piano.
It is often a subject of comment that some piano manufacturers
are far better known in public and private circles than their products
or financial standing would seem to warrant, while manufacturers
in other lines whose financial backing is infinitely greater are but
little known and their names are rarely ever mentioned in their
communities.
When a manufacturer makes a little of everything his line does
not stand out with the strength that attracts attention, and when
he manufactures an article which is in daily use in the home for a
period of long years it seems that there is a certain advertising
value that goes with that product.
Then, again, there is an army of men constantly talking piano
names so that the public sometimes realize than a piano manufac-
turing institution is rich and powerful even though it may belong
to the peanut variety.
Piano manufacturers are specialists and this is the era of
specialism.
To be known as a big piano manufacturer brings a certain
amount of advertising that is apt to bring returns.
One frequently mentions an obscure manufacturer in some
fields and it is remarked that he makes nice goods, but so long as
he makes a little of everything no one knows just exactly what the
product is.
But the man who makes pianos and specializes on pianos alone
is creating a name for himself and a reputation which should grow
with the vears.
REVIEW
There is an army of people who are advertising special lines
all the while and piano manufacturers are among those who draw
a good advertising value from their products.
O
F course, the government suits brought against the big corpo-
ration will not help trade, everyone knows that, but the mills
will grind just the same. People will eat some, drink a little, and'
now and then buy a piano, why not?
Whether it is a friendly or unfriendly suit that the United
States Government has brought against the Steel Corporation, every
cool-headed man knows that when all has been said and done in
the courts vested rights will be unimpaired, the property will still
exist, and the steel business will continue to be transacted at a profit
for the stockholders.
Starting off with this principle fixed in the mind, no one should
be misled to-day by the efforts of those who make it their business
to depress securities and profit by sounding the trumpet of mis-
fortune.
With the merits of the controversy between the Government and
the Steel Corporation The Review has nothing to do. It may or may
not be technically a violator of the Sherman law. But this much is
known: The company has never been hiding behind mysterious
doors in transacting its enormous business. Xo combination ever
formed was more open and above board. When it was created the
details of its resources and capitalization were known. It was no
South Sea bubble. Those who invested in its stocks found in time
earnings to justify their purchase even of the common issue. The
values are there and will not be hastily destroyed.
So let's talk about the weather.
CENSUS bulletin gives figures showing the growth of New
A
York's factory industries in the last five years. The figures
throw light on the question of whether capital or labor has
profited the more by the expansion. The notion has been assid-
uously fostered that capital is absorbing a larger percentage of the
industrial product and labor a smaller percentage. The truth is
there has been no material change.
The following are the figures for the years 1904 and 1909,
with the last three ciphers omitted:
,
Value of products
Material
Labor
Miscellaneous expenses
.Net income
1904.
N
*2.4SS.34(>
$1,348,603
541,160
:i01,576
$2,191,339
,
'
1909. ^
$3,369,490
$1,856,904
743,263
386,074
$2,986,241
?287,007
$383,249
The following is the distribution in costs of each dollar's worth
of product for the two years:
Material
Labor
Miscellaneous expenses
Capital's income
Total
1904.
54.50
21.75
12.25
11.50
100.00
1909.
55.00
22.00
11.50
11.50
100.00
These figures show that no change has occurred in the per-
centage of the industrial product absorbed by capital; that labor
is securing slightly more; that a little more is being paid out for
material and a little less for miscellaneous.
The remarkable thing about the figures is the steadiness of the
percentage. They squarely refute those who shout against the
growth of capitalistic profits and the anti-socialists who shout
against the growth of labor costs. Things are about as they should
be, so far as the division of the products is concerned.
I
N another section of The Review the announcement is made of
a series of articles which will be continued for a number of
weeks, with the object in view of stimulating trade thought along
lines which may be of benefit to the retail branch of the industry.
It is not the intention of The Review to have lengthy articles
written, but rather to present upon its pages some bright, scintil-
lating thoughts reflecting the views of salesmen upon topics which
are constantly coming up in trade discussion everywhere.
There are plenty of good, bright men connected with the retail
department and in inaugurating this campaign it is with the view
of accentuating thought along educational lines.
The articles need contain but two hundred and fifty words.
Full particulars are given elsewhere.