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TH
MUSIC TRADE
REVIEW
EDWARD LYMAN BILL - Editor and Proprietor
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JCtUUUi
An important feature of this publication is a complete sec-
t | o n devoted to the interests of music publishers and dealers.
anil
Departments conducted by an expert wherein all ques-
dllU
t i o n 3 O f a technical nature relating to the tuning,
IW>nariniPntc regulating and repairing of pianos and player-pia.nos
leCIIIIRd
IFCpdl I l l i e i l l S . a r e 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 Medal.Charleston Exposition, l»02
Diploma..Pan-American Exposition, 1901
Gold Medal.. .St. Louis Exposition, 1904
Gold Medal
Lewis-Clark Exposition, 1905.
LONG DISTANCE TELEPHONES-NUMBERS 4677 a n d 4678 GRAMERCY
Connecting a l l Departments.
Cable a d d r e s s : "Elblll, N e w York."
NEW YORK,
AUGUST 19, 1911
EDITORIAL
has been of late the regular mid-summer business flatu-
X
lency which is encountered nearly every season about this
time, and the past week has not differed in this particular from the
regular August round-up of dullness.
There are a number of complaints regarding collections, but
these complaints invariably come to hand every season. Studying
the trade broadly it must be admitted there is a decided inclination
on the part of some manufacturers to revise piano selling terms.
There is no question but that much good could be accomplished
in this direction by remodeling the terms upon which instruments
are sold both at wholesale and at retail.
We have drifted along in an easy and careless way for years—
traveling men in their anxiety to dispose of pianos going just one
better on terms than their competitor.
In this way competition has finally succeeded in placing the
business in rather a peculiar attitude so far as selling terms are
concerned, while in other trades regular selling standards exist,
for if we study the iron, steel, dry goods and other industries we
will find that the terms and discounts offered to dealers correspond
very closely.
Now, the question naturally comes up, why should not these
principles exist in the piano industry?
Simply because a great many people have been so anxious to
dispose of their products that they have violated the laws of sound
business sense in many cases.
Now, products of any kind are not well sold unless they are
disposed of on terms which afford the manufacturer absolute secur-
ity as to the time of maturing payments. It is only on such a basis
REVIEW
that he can arrange his plans for the purchase of supplies and the
payment of labor.
There must be exactness and regularity al>out the business, else
it will suffer in a corresponding degree.
It is true that there are some houses in this trade which con-
duct their affairs on correct business lines with an exactness and
regularity which is as unwavering as the laws which govern bank-
ing, but they are in the minority so far as numbers are concerned.
It is absurd to sell pianos on terms which are elongated to such
a degree that the seller has placed in his hands a lot of unmarket-
able paper, or paper which is classed as nothing more or less than
renewal paper.
That injures business and retards its growth.
It is all well enough to say that pianos can be sold on easy
terms, but the terms can be a mighty sight too easy—in other words,
they render a man disregardful of his business obligations and there
is nothing which contributes in a more surprising manner to busi-
ness failures than indifference on the part of business men to meet
their obligations.
Now, the best thing to cultivate in this industry is a respect
for business obligations and that when paper is given in payment of
pianos that that paper should be met at its maturity.
We can name some houses which have religiously adhered to
these rules and they have won the respect and confidence of the
trade and every man commands the respect of his fellowmen by
demanding that when obligations arc entered into they should
be met.
It is the kind of business principles which win, and every man
should engraft those principles into his business structure. Many
houses which are preparing plans for fall trade should include in
their preparations a specific reorganization of their business pro-
gramme in so far as it relates to selling terms.
They are too liberal and place too light an estimate upon the
value of time
T H E R E is a lot of "meat" in the address made by Judge E. H.
A
Gary, the steel magnate, during his recent visit to Brussels,
on the Golden Rule in business. It is conceived in a broad spirit
and forebodes a new era of mutual understanding in the competitive
world. He thus presents some arguments which are worthy con-
sideration :
Suppose a company of men engaged in business, and possessing
much capital, power and influence, should by their conduct, unjust
or oppressive, acquire universal disapproval, disgust and antagonism
on the part of the public. In a brief space of time these men would
be driven out of business. Suppose a producer of any commodity
for sale should in any way within his power illtreat all of his cus-
tomers, how long would it be before the producer would be in bank-
ruptcy? Suppose an employer of labpr, manifestly treated his
employes unfairly and poorly. In time, as a result of the action
of those interested, aided by public sentiment, a remedy would be
found, and this after a great interruption of business and a loss of
money.
Again, let us assume that during a given year the demand for
a product equals less than one-half of the capacity to produce, and
yet each producer is greedy and anxious to sell more than his fain
proportion and acts accordingly, and this attitude is maintained
until destructive. Results which we all know are almost certain to
be realized.
It would be difficult to bring about an ideal in business, yet a
right disposition, courage, patience and the application of the highest
thought might reach that position. The first essential to this is
thorough acquaintance and frequent intercourse.
There should be established and continuously maintained a
business friendship which compels one to feel the same concern
for his neighbor that he has for himself. It is no less in principle
than the Golden Rule applied to business. Is it possible? If it is,
it will be certain to pay. True it is that sometimes, and too often,
deceit is practised, and advantage has been taken by those who have
been given confidence by others, but this fact should dishearten no
one.
For example, take any two men engaged in competitive busi-
ness, but who are sufficiently acquainted to have the entire confi-
dence of each other. Is there any doubt that in the daily conduct
of their affairs, neither would be disposed to do anything unneigh-