Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
Country-wide Business Reports Most Reassuring.
NE of the largest banks in New York, in its circular for Sep-
labor in the last year has found more general employment than
O
tember advises its correspondents that country-wide reports
usual and serious disputes have been by no means common. Ex-
indicate a satisfactory state of business, with good expectations of
haustion of liquid capital has been the text of many admonitory
an upturn as soon as pending legislation is settled. In other words,
there is assurance of renewed prosperity when the tariff bill is
enacted and the currency reforms are put int6 law.
The specifications are definite. The West reports current
business in sound condition and a flattering outlook for the fall.
Tn manufacturing centers the feeling is wholly optimistic. Abroad
the financial situation is excellent. The Bank of England is
stronger than at any time for six years. The Bank of France has
much more gold for this time of year than usual, and the Bank of
Germany is well entrenched for the autumn strain. Our own
banks are also well fortified, and it is not unlikely that by natural
operations we shall recover from South America most of the gold
shipped there in the early part of the year for the account of Eng-
lish and French banks.
The investment markets are naturally reflecting the strength
of the financial situation. Bonds are in better demand than for
some time, and there is general agreement that much of the un-
easiness which has prevailed in this country and throughout the
world for many months is gradually disappearing. Indeed, it is
now becoming apparent that this state of mind was the outgrowth
of illusions rather than of realities. The labor unrest of which
much was said and feared has never assumed a formidable front.
Wages, have risen and there have been predictions of trouble due
to inability of employers to meet the larger payrolls. Actually
addresses and gloomy prophecies. We are not out of the woods
yet, but it is reasonably clear that the warnings have served their
purpose so well that for the immediate future there is small danger
of trouble from that source. Bankers have effectively checked any
but necessary operations. Comparatively few new securities have
been put upon the market, and capital resources, while still too
slender to stand much strain, are likely to prove equal to the de-
mands of normally expanding business.
President Wilson's conservative treatment of the Mexican
situation has unquestionably had its effect in establishing confi-
dence in the Administration. The course he has chosen is not
idealistic. It is not in the ordinary sense a strong course. It lacks
something in definiteness. But there is about it no sign of the
erratic or dubious from the point of view of those—especially
business men—who prize orderliness and decorum above all else.
It indicates for the immediate future a degree of serenity which
some business men scarcely dared to hope for.
We live in an age of surprises, and no one can say what the
morrow will bring forth. After a period of anxious waiting it is
something, however, to know that even the ominous clouds seem
to be passing away and that as far as we can see the prospect is
bright.
Piano merchants should see to it that their business houses
are in order with plenty of fresh new pianos in. stock.
Discretion—and the Lack of It.
H P HE fall campaign has fairly opened. An energetic fall move-
JL ment will be made by aggressive business men in every line,
and consistent and attractive publicity will contribute to trade
advance.
The Music Trade Review was never so well equipped to serve
the interests of its constituency as at the present time. Its organi-
zation has been enlarged, perfected in many ways, and various
improvements have increased the value of the paper to advertisers
and to subscribers, so that its leading position is generally conceded
everywhere in music trade circles.
The advance of this trade newspaper institution has not been
rapid—nothing of the sensational or pyrotechnic methods about it
whatsoever. It has moved on steadily upward, gaining ground
through a presentation of values which have been pleasing alike
to advertisers and subscribers.
Every department of the trade is thoroughly and completely'
covered, and as a purveyor of news The Review is excelled by
no other publication. Its correspondents in all of the principal
cities are ever watchful, so that events are carefully ckronicled in
its columns in advance of papers which lack the necessary ma-
chinery.
There is one class of news which is always carefully expunged
from the columns of this paper, and that is matters which relate
directly to the personal life of members of the trade. The soiled
linen of the divorce court is not washed in its columns.
Another thing is carefully emphasized in this paper. Dis-
crimination and judgment is shown in the presentation and dis-
semination of news affecting the credit of individuals and com-
panies.
It is well known that a trade publication whose representa-
tives cover the entire country is invariably in touch with trade
happenings before they are officially released and the trade news-
paper man knows that a too previous announcement of a contem-
plated trade move will kill it effectually; therein the trade news-
paper differs from that in the regular or daily field.
It works for the industry and not against it, and the announce-
ment of such contemplated moves as private creditors' meetings is
bound to affect the credits of a firm which might be guided over a
dangerous spot by creditors, but when the world is informed of its
temporary weakness it may precipitate a crash, and thus great
injury be done to deserving individuals and firms.
There are times when perfectly sound companies are hard up
for ready cash. Their assets may be excellent, but they are unable
to realize—hence they must be tided over until easier conditions
are reached.
When a trade newspaper announces such contemplated moves
it is doing an injury, ofttimes a very serious one, to important trade
interests. Hence, discretion and judgment must be used at all
times, and The Review has fairly earned the reputation of being a
safe publication. Its representatives are entrusted with important
trade secrets, and confidence in this particular has never been mis-
placed.
The policy of The Review has been to work for the upbuilding
of trade interests rather than to disturb or depress them.
tion to Mr. Nelson at a banquet which was attended by a number
of the most prominent Norwegians of the country.
The distinguished honor paid Mr. Nelson by the King of
Norway was a surprise and entirely unexpected by Mr. Nelson.
who always prefers to work along lines of modest endeavor, but
with that thoroughness that characterizes all his efforts and which
never fails to win success. In the development of closer com-
mercial relations between the United States and Norway he dis-
played that quiet energy that has won him such a large measure
of recognition in the piano field.
For it can be said of Mr. Nelson that he never seeks notoriety.
He is a business builder who has attained a foremost position in
the piano trade by reason of his industry and remarkable mental
equipment. A host of friends in the piano trade will join with
his fellow countrymen in congratulations on the distinguished
Honor bestowed on this prominent member of the music trade.
T is difficult to realize that Robert (\ Kammerer, so genial, so
lovable, so honorable, has passed to the great beyond. His death
late last week cast a universal gloom over the trade, and every-
where one heard tributes of esteem and sincerest affection for
one whose aim always had been to make others happy. The great
outpouring at the funeral services testified eloquently to his popu-
laritv.
I