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THE
MUSIC TRADE
REVIEW
ARRANGE FOR NEW QUARTERS.
NEW LAWS TO PROTECT BUSINESS.
Thos. Goggan & Bro. Sign Lease fcr Half of
New Structure to Be Erected in Houston.
Legislation Which Went Into Effect in New
York State on September 1, Provides Heavy
Penalties for Making False Statements to
Banks in Seeking Loans, or for the Purpose
of Establishing Credit.
(Special to The Review.)
Houston, Tex., Aug. 31, 1912.
Thos. Goggan & Bro,, the prominent piano and
music dealers of this city, have closed a five-year
lease on half of a new four-story building to be
erected at the corner of Main street and Rusk
avenue. Work on the new building will start at
once and it is expected to be ready for occupancy
by January 1, 1913. The piano house formerly
occupied commodious quarters in the Mason build-
•ing, which was destroyed by fire several months
ago.
Among the various new laws which went into
effect in the State of New York on September
1st, is one that should prove of particular interest
to all business men, in that it is intended to pre-
vent the obtaining of excessive credit through the
presentation of false statements to banks. The
new law is intended to close the loopholes open to
dishonest business men which were brought to
light directly through the recent investigation of
the Union Bank of Brooklyn.
The new law, violation of which carries a pun-
TO ERECT FAIR BUILDING.
ishment of one year's imprisonment, or a fine of
Stated That St. Louis Piano Men Will Join
not more than $1,000, or both, provides against the
Together in Building Suitable Structure for
alteration of books or accounts or the making of
New St. Louis Fair—A Commendable Move.
false statements, written or oral, respecting the
financial condition or ability to pay of any per-
(Special to The Review.)
son, firm or corporation. Bankers expect the
St. Louis, Mo., Aug. 31, 1912.
amended statute to effectively stop the obtaining
In connection with the announcement that the of credit through exaggerated claims or inflation
New St. Louis Fair will be made a permanent
of assets. It is calculated that it will save the
feature and that substantial structures will be banks hundreds of thousands of dollars annually.
erected to house the various exhibits, it is stated
Up to the present it has been possible to obtain
that the piano men plan to join together for the credit on statements often proved on investiga-
erection of a handsome structure to be devoted
tion to cover past conditions, or on documents
exclusively to the exhibition of pianos and musical
which were being used without the knowledge of the
instruments, and which will contain a recital hall
rightful owners. It was a common enough practise,
and other features for the entertainment of guests. too, for slippery business men to doctor their books
The new building is to be ready for the next year's
for the purpose of deceiving the bank's credit man.
fair.
The new law was backed by the State Bankers'
Association, which worked for more than four
FILES BANKRUPTCY PETITION.
years to obtain effective legislation to protect
banks against losses on improperly secured loans.
(Special to The Review.)
The amended statute became a law April 15 last,
Cleveland, Ohio, Aug. 31, 1912.
Walter J. Welsh, proprietor of the Walter J. under the title "An act to amend the penal law
in relation to larceny." The first section says:
Welsh Piano and Furniture Co., at 8705 Superior
"Any person who shall knowingly make or cause
avenue, this city, has filed a petition in bankruptcy
to
be made gather directly or indirectly or through
with assets of $4,696 and liabilities of $6,555.
any agency whatsoever, any false statement in
writing with intent that it shall be relied upon, re-
OPEN STORE INJVATERLOO, WIS.
specting the financial condition, or means or ability
*E. M. Henderson, for fourteen years with L. S. to pay, of himself or any other person, firm or
Parson & Co., Waterloo, Iowa, and who was be- corporation, in whom he is interested, or for whom
fore that with the W. W. Kimball Co. for many
he as acting, for the purpose of procuring in any
years, has opened piano warerooms of his own in
form whatsoever, either the delivery of personal
Waterloo, where he will handle the Kimball line property, the payment of cash, the making of
exclusively.
a loan or credit, the extension of a credit, the dis-
count of an account receivable, or the making, ac-
ceptance, discount, sale or endorsement of a bill of
exchange, or promissory note, for the benefit of
either himself or such person, firm or corporation,
to
shall be guilty of misdemeanor."
The second section covers the culpability of
aryone who knowing that a false statement, such as
described, has been made, procures on the strength
of it any of the benefits described, and the third
carries the criminal responsibility on to cover the
use of a statement which would have been true
when made, but is false on the later day when it is
submitted as an evidence of financial condition.
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Address
Charles Scribner's Sons
153-157 Fifth Avenue
NEW YORK
BUYS PIPE ORGAN FACTORY.
(Special to The Review.)
Syracuse, N. Y., Sept 3, 1912.
The pipe organ factory of T. H. Knallin, at 117
Larned street, which has been established for ovei
a quarter of a century, has been purchased by E.
G. Marin. The new proprietor states that he will
probably enlarge the plant at an early date.
DOLL & SONS NEW BRANCH.
Jacob Doll & Sons, the prominent piano manu-
facturers, with retail stores in New York, Brook-
lyn, Newark and Jersey City, N. J., and other
points, has opened a new retail branch at 197
Neilson street, New Brunswick, N. J.
If you desire a man for any department of
your service, either for your factory or for
your selling department, forward your adver-
tisement to us and it will be inserted free of
charge.
Victor-Victrola
The pre-eminent
musical instrument
As such it is recog-
nized by t h e m u s i c -
loving public. As such,
its commercial suprem-
acy is m o r e n o t a b l e
every day.
At every step of its
triumphal progress the
Victor-Victrola has be-
stowed liberal a n d
a s s u r e d profits upon
Victor dealers, besides
giving them increased
prestige; and at the same
time it elevated the en-
tire music trade to its
position of dignity and
power in the business
world.
The p r o s p e r i t y of
V i c t o r dealers is re-
flected in the attractive
and l u x u r i o u s sales-
rooms which they oc-
cupy, and their contin-
ued success is assured
by the wonderful ac-
complishments of the
Victor-Victrola in the
past.
Victor Talking Machine Co.
Camden, N. J., U. S. A.
Berliner Gramophone Co., Montreal,
Canadian Distributors.
Always use Victor Machines with Victor Records
and Victor Needles—the combination. There is
no other way to get the unequaled Victor tone.