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THE
HOW CONROY FEATURES THE KNABE.
Brings This Instrument to the Attention of
Patrons of One of the Leading West End
Theaters in St. Louis in a Very Striking Way.
(Special to The Review.)
MUSIC TRADE REVIEW
WILL STUD^_PRICE FIXING.
Secretary Redfiefd Not Sure Supreme Court
Decision Is Wise in Regard to Its Attitude
Against the Fixing of Selling Prices.
W. C. VOUGH WITH WEQMAN CO.
Former President of the Vough Piano Co. Be-
comes General Superintendent of the Weg-
man Piano Co., of Auburn, N. Y.
(Special to The Review.)
LANSING, MICH., October 27.—Addressing the
William C. Vough, one of the best-known piano
Lansing Board of Commerce last Thursday after-
noon Secretary of Commerce Redfield made some manufacturers in this country, and for many years
interesting remarks on the matter of price fixing, president of the
Vough Piano Co.,
when he said:
Waterloo, X. Y.,
"The Department of Commerce will conduct an
has just concluded
inquiry the coming year into the fixing of retail
prices by manufacturers, if sufficient funds are arrangements with
Wegman
available. The deci- t h e
P i a n o Co., of
sion of the Supreme
Court holding it to be A u b u r n , X. Y.,
whereby he will
unlawful for manufac-
hereafter be asso-
turers to fix retail
ciated with it in
prices settles the pres-
ent law, but the wis- the capacity of
general
superin-
William C. Vough.
dom or unwisdom of
the law and the eco- tendent, in charge of all the manufacturing opera-
nomic profit or loss by tions of the Wegman Co. This is an important
the practice are not position, for which Mr. Vough is admirably fitted
yet settled. There are by his long training and experience as a practical
•men who are sincere piano man.
Mr. Vough has been engaged in the manufacture
foes of monopoly and
who incline to the be- of high-grade pianos all his life and is the orig-
lief that, under eco- inator of many improvements, including the Vough
nomic laws, which are changeable pitch and other valuable devices, and
Stage Setting Showing Knabe Piano in St. Louis Theater.
greater than statutes, the Wegman Co. is to be congratulated on secur-
success being achieved these methods are well the broad prohibition of the right to fix retail ing the services of a man who is so well qualified
worth emulation by other members of the trade.
prices by manufacturers tends to create monopoly, for the important position which he assumes with
The accompanying stage sitting was taken in one instead of being a movement toward relief from that company on November 1.
Mr. Vough is well and favorably known to the
of the West End theaters of St. Louis, which is
monopoly.
frequented by a class of people that appreciate the
"There is no thought of questioning the decision. trade, who know him best as the manufacturer of
best in music and pianos. Realizing the high char- It is the law of the land, and as such it is bound the Vough, Malcolm-Love and Alexander line of
acter of the audience, the Conroy Piano Co. wisely in letter and spirit to be accepted and obeyed. For pianos. Few lines of instruments have any better
decided to feature its leader, the celebrated Knabe the p"'iidance, however, of future legislation on this reputation than these pianos, and they have made
piano, which it represents in St. Louis. Both the important subject it is desirable that the economic for Mr. Vough an enviable reputation in the trade.
It is very probable that the manufacture of these
name "Conroy's" and the word "Knabe" were question be worked out."
pianos will soon be taken up by the Wegman Co^
painted in large, imposing letters on the piano that
could be easily seen from all parts of the house.
The Leonard Piano & Music Co., Douglas, Ariz., which is making some additions to its executive
It is pleasing to note that the Conroy Piano Co. will shortly occupy a new building erected at staff and evidencing in several ways a renewed
activity in the piano world.
is closing a Knabe business this year far in excess Eleventh street and F avenue, that city.
of that closed in 1912. Sales to prominent musicians,
institutions and laymen of expensive Knabe grands,
players and uprights are being closed with gratify-
ing regularity, and the Knabe piano is certainly re- Says Alexander Gilbert, Bank President of New York, Who Commends Rediscounting Through
a Central Bank—Interesting Address Before the Senate Banking and Currency Committee.
ceiving excellent representation in St. Louis through
the energy of the Conroy Piano Co.
(Special to The Review.)
what capital would be available in the six great sub-
ST. LOUIS, MO., Ocober 27.—The Conroy Piano
Co., the prominent piano house at 1100 Olive street,
is always on the lookout to take advantage of all
opportunities for the exploitation of the pianos it
handles. Novel and original methods of publioity
are utilized by this progressive house from one
end of the year to the other, and judging from the
COMMERCIAL PAPER A PANIC PREVENTIVE
MAKING ITS OWN PIANO BENCHES.
The
Starr
Piano Co. Fitting
Its
High
Priced Pianos with Benches to Correspond
in Design with the Architecture of the In-
strument—Move Much Appreciated.
(Special to The Review.)
DETROIT, MICH., October 27.—The innovation of
the Starr Piano Co. in manufacturing its own
benches for its best grade pianos, has made a de-
cided hit in Detroit. These benches are made to
correspond in design and construction to the style
of piano they are sold with. They are of the same
wood, have the same finish and the same lines. They
resemble the general work of the piano so closely
that even an inexperienced eye discerns that they
are practically mates.
"We, and the other Starr branch stores, had so
much trouble getting suitable benches for our
pianos that the company decided to make them,"
said City Sales Manager J. W. Wheeler. "It has
proved to be one of the best ideas ever introduced
into the retail business. They help sell the pianos.
This is especially true of the benches that go with
the players, which have double tops, the upper one
being raised to serve as a back when the musician
is playing, instead of operating the player. They
are of better quality than can be bought at any
price, and this is appreciated by our patrons."
WASHINGTON, D. C, October 27.—The remarks
of Alexander Gilbert, president of the Fulton Mar-
ket National Bank of New York, before the Senate
Banking and Currency Committee late last week
has caused considerable comment of a favorable
nature in business circles, particularly those in-
dustries in which commercial paper forms an im-
portant part. Mr. Gilbert in a most emphatic way
pointed out that the existence of a proper and sub-
stantial central bank for the rediscount of prime
commercial paper, would have averted every panic
that has taken place in the American financial
world since he entered business life more than
fifty years ago. Mr. Gilbert said:
"I have weathered every financial panic since
the Civil War—1873, 1893 and 1907, and the minor
panics and financial stringencies intervening be-
tween these great crises—and with a powerful cen-
tral institution with the legal right to issue cur-
rency upon the collateral of good commercial pa-
per rediscounted therein every one of these panics
could have been averted and the stringency re-
lieved without the terrible losses in money and
credit that have come with them."
Mr. Gilbert produced the figures to show what
effect the organization of the projected bank sys-
tem would have. He urged on the committee the
unwisdom of attempting the organization of twelve
banks on the basis provided by the Glass-Owen
bill. He said he had prepared a table showing just
WINTER & CO.
220 SOUTHERN BOULEVARD, N E W YORK
Manufacturers of
divisions of the United States used by the Comp-
troller of the Treasury in his annual report.
These figures showed that the capitalization for
the regional bank of New England will be $10,-
000,000, for the middle States with New York as
its center $33,000,000, for the Southern States $11,-
000,000, for the middle West with Chicago as the
center $25,000,000, for the Western States, includ-
ing the Rocky Mountain regions, $7,200,000, and
for the Pacific coast $8,900,000.
"It is obvious from these figures," said Mr. Gil-
bert, "that twelve regional banks under no cir-
cumstances could be established on the capital
basis provided in the pending bill."
He then produced other figures to show that in
the development of the new financial system there
must be produced a vast increase in the amount
of rediscounting business, else the regional banks
would be unable to make sufficient profit.
"There is a total of only $108,000,000 in annual
rediscounting at present in the United States," he
said. "Of this $63,000,000, nearly three-fifths of
the total, is in the Southern States, where by rea-
son of inadequate capital and the fact that the
country is in the process of development there is
a need for the rediscounting of paper."
He acknowledged that in the nature of things
there would be an increase with proper redis-
counting banks established, but he doubted if the
regional banks would pay dividends for some time.
Superior Pianos
and Player Pianos