Classic Mode

Music Trade Review

Issue: 1913 Vol. 57 N. 3

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE
MUSIC TRADE REVIEW
REVIEW
EDWARD LYMAN BILL - Editor and Proprietor
J. B. SPILLANE, Managing Editor
Executive and Reporter!al Stall t
B BXITTAIN W l L U X ,
A. J. NicKLix,
CAILXTOM C B A C B .
AUGUST J. T I U M ,
L. M. KOSINSOM,
Wii. B. WHITE,
BOSTON OFFICE:
L. E. Bowns.
CHICASO OFFICBt
Telephone, Main 8BB0.
R o o m a 0 J 7 Telephone, Central 414
PHILADELPHIA:
MINNEAPOLIS u 4 ST. PAUL:
ST. LOUIBi
R. W. KAUFFMAN.
ADOLF EDSTXX.
SAN FRANCISCO: S. H. GBAT, 8» First St.
CINCINNATI. O.: JACOB W. WALTBU.
BALTIMORE. MD.i A. ROBEIT FBEXCH.
CLTM J»XXIXO»
DETROIT. MICH.: H o u i i J. WHITE.
INDIANAPOLIS. I N D J STANLBY H. SMITB
MILWAUKEE. W I S . : L. I . M B Y H .
LONDON. ENGLAND: 1 Gresham Buildinfs, Basinffhall St., E. C.
Published Every Saturday at 171 Fonrtta A venae, New York
Entered at the New York Poti Office as Second Chut MatUr.
SUBSCRIPTION, (including postage), United States and Mexico, $1.00 per year; Canada,
18.60; all other countries, $4.00.
ADVERTISEMENTS. $1.60 per inch, staple column, per insertion. On quarterly oi
yearly contracts, a special discount is allowed. Advertising Pages, $75.00.
REMITTANCES, in other than currency forms, should be made payable to Edward
l.vman Rill.
^
P l a n A anil
Departments conducted by an expert wherein all ques
r i a i l U OUU
t j o n g o f a technical nature relating to the tuning, regu
Iionai*tm4>llfa
lading and repairing of pianos aad player-pianos nrr
ueparnnems.
d e a h with
wilI b e f o u n d i n tnot her
section of this
paper. We also publish a number of reliable technical works, information concerning which
will he cheerfully given upon request.
Exposition Honors Won by The Review
Grand Prix
Paris Exposition, 1900
Silver Medal.. .Charleston Exposition, 190?
Diploma
Pan-American Exposition, 1901
Gold Medal
St. Louis Exposition. 1904
Gold Jfydai..Lewis-CUrt Exposition. 1906
LONG DISTANCE TELEPHONES-NUMBERS 8 9 8 t - S 9 8 S MADISON SQUARE
Connecting • U Departments.
Cable a d d r e a a : " E l n m , N e w York."
NEW YORK, JULY
19,1913
EDITORIAL
R
EPORTS received at The Review office from various parts of
the country during the past week indicate that while busi-
ness is experiencing a seasonable summer dulness, it does not suffer
in comparison with other years.
Future trade shows more promise and sentiment is improved.
Tariff changes seem to be losing their force as a disturbing factor,
and recent developments in the money market lead to the belief
no undue stress will be felt during the crop-moving period.
Crops hold out prospects of an abundant yield, with the pos-
sible exception of spring wheat, which was given a low condition
in the recent Government report. Latest advices to the grain trade,
however, show improvement in spring wheat. Cotton and corn
crops furnish the basis of optimism in the South and West.
Bradstreet's says: "Seasonable quiet prevails in the larger
lines of trade, and salesmen are off the road for vacations. On the
other hand, brilliant weather and holiday demands, plus clearance
sales, have greatly stimulated retail distribution. What is probably
more significant is the fact that sentiment as to the future appears
to be more encouraging. There is less timidity, and the major note
is one of conservative optimism.
"Buyers are beginning to appear in the various wholesale
markets, and it is apparent that more business has been done, espe-
cially in dry goods and shoes, on future account than was earlier
apparent. Next week should produce additional impetus. As yet
the West, Northwest and Southwest reflect greatest activity in
future operations, and in those sections buyers have taken hold in
a large way, the result being that in various lines trade exceeds that
of last year."
Dun's Review says: "While business generally reflects the
quietness usual at this period, commercial tendencies are mainly in
the direction of improvement and confidence in the future has
strengthened.
"This (indicated prosperous crop year) augers well for the
business outlook, but the spirit of conservatism is still manifest in
most quarters, owing chiefly to the restrictive influence of tariff
legislation. On the other hand, evidences of expansion are not
wholly lacking, alihougn conditions seldom show any miporiant
change at midsummer."
C
OPIES of the resolution of the banking and currency com-
mittee of the Chamber of Commerce of the United States
approving the Owen-Glass currency bill as "a piece of constructive
legislation," and offering suggestions for its improvement, will be
forwarded to Washington to be submitted to Democratic leaders
in the House and Senate for their consideration.
The bill provides for a Federal reserve board of seven mem-
bers, one of whom at least shall have had banking experience. The
committee feels that this element of banking experience can be
strengthened without weakening the element of public control. It
suggests that the Federal reserve board be increased to nine mem-
bers, the extra two to be chosen by the seven others, subject to the
approval of the President, and that the board thus constituted shall
elect its governor and vice-governor. Says the committee:
"The members of the Federal reserve board should be the
equals in point of character, ability and experience of the principal
banking officers of this country and Europe. The question of com-
pensation should therefore have the serious consideration of Con-
gress. The compensation of the governor and vice-governor should
be fixed by the board. While men of requisite qualifications might
be found who would be satisfied with a moderate salary in such
positions, what is wanted is the highest quality of service. In
dignity the Federal reserve board should rank with the Supreme
Court and it should be equally free from any suspicion of political
control. This is in accordance with the best banking experience
and practice in all parts of the world."
To provide a definite method of voicing, for the consideration
of the Federal reserve board, the judgment of banking and busi-
ness interests and keeping the board in constant touch with business
and trade requirements everywhere the committee suggests the
organization of a Federal reserve council, elected by and represent-
ing the directors of the Federal reserve banks and serving in an
advisory capacity. This council should confer with the Federal
reserve board at stated periods, its president and vice-president
would live in Washington and, without vote, sit at meetings of the
board, and compensation of its officers and members would be fixed
and paid by the reserve banks.
*
So much for control and management. As to creation of the
reserve bank system, the committee points out that in important
districts containing cities naturally qualified to be reserve cities the
aggregate banking capital is as yet insufficient to permit the estab-
lishment of reserve banks under the requirements of a m per cent,
investment and a minimum capital of $5,000,000. And in other
districts, says the committee, the capital requirement may be so
barely met that a reserve bank so capitalized would be far inferior
in capital and resources to several of the now existing local banks.
HE Merchants' Association of New York is do ; ng splendid
work in stimulating interest in the New York market among
merchants throughout the country. The reduced railroad rates
secured for the benefit of merchants and their representatives de-
siring to visit New York o.ver the Trunk Line territory for fall
buying, announced in last week's Review, afford opportunities to
piano merchants and others throughout a large area of the country
to visit New York between July IQ and September q, as set forth
in detail in the circular.
The Merchants' Association has been developing this end of
their colossal campaign for the advancement of the interests of the
city, for almost fifteen years, and each year has shown a greater
success in bringing buyers to market at ;>n early date, and thus
help manufacturers to plan their manufacturing campaign so as to
meet subsequent demands for the winter season's goods.
Piano merchants have not availed themselves as much as they
should of these special reduced fares. This is largely due to the
fact that a great many piano manufacturers in New York are not
as much alive to their own interests and the interests of the city,
as they should be by tak : ng a more active interest in the excellent
work which the Merchants' Association is accomplishing, not' only
in securing lower railroad rates for buyers to visit the New
York market, but in a number of other public spirited movements
which mean much for the better government of the city and the
welfare of taxpayers generally.
T
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE
MUSIC TRADE
REVIEW
HARMONY A VITAL NECESSITY.
(Continued from page 3.)
It is just the same in business. If you enter an office or wareroom where there is harmony,
satisfaction and content you sense it immediately upon your arrival, but if there is bitterness,
jealousy and discord you sense it just as quickly. No one tells you, but you feel it. You know
that it is there!
Now, if you are anxious to develop your strength—if you are desirous of accomplishing better
results, then harmony should be studied. You cannot depend upon
others to create the atmosphere—you must do your part in creating
it; not only in creating it, but in maintaining it, for in that way only
the best results can be obtained.
Winning Success Through Organization.
S
OME remarkably interesting facts were brought to light
when James A. Farrell, president of the United States
Steel Corporation, gave his testimony in the suit of the Gov-
ernment for the dissolution of the corporation. It not only
revealed the wonderful memory, the comprehensive grasp of the
entire iron and steel business of the world which Mr. Farrell
possesses, but it furnished a lesson of what can be achieved in
the export field by producing goods of recognized merit in com-
petition with the entire world. No business man can afford to
overlook the figures and facts set forth by Mr. Farrell—and set
forth, by the way, free of error or correction, without notes or
data of any kind—regarding the wonderful business of this cor-
poration for the past ten years.
At this hearing the remarkable fact was revealed that the
exports of the steel corporation have increased from a value of
$1,380,138 in 1904 to $o,2,ooo,coo in 1912. The latter figure is
one-third of the total export trade of the country in iron and
steel last year, and according to authorities is approximately
equal to the total exports of iron and steel from this country ten
years ago.
Mr. Farrell stated that the policy of the steel corporation
has been one of constant attention to the export business, and
this had been the case even when domestic business was at the
highest—that the corporation does ninety per cent, of the export
business of the country in the lines it is making—-that four mills
are kept busy almost entirely on foreign business—that at the
present time forty thousand of the men at its various plants are
employed in manufacturing goods for foreign markets.
Within the past ten years the corporation has arranged
for 268 agencies in upwards of 60 countries, and owns about 40
large warehouses abroad. Tn this connection Mr. Farrell gave
this interesting testimony : "We have warehouses in such places
as Antwerp, Johannesburg, Sydney, Barcelona, Copenhagen,
Singapore, Valparaiso, Rio de Janeiro, etc., and we carry stocks
of nearly all the products we manufacture in these Avarehouses,
with the exception of rails for steam railroads. We have a large
office in London, in which are some thirty-five men, for London
is the great clearing house for the world's products and buyers
gather there. We sell South America and other tropical coun-
tries. We have our own erecting forces in Brazil, and in other
countries at times. We have built every steel structure in Buenos
Aires, because our material is lighter and not as cumbersome as
the European. In Paris we sell principally to French buyers
whose interests are elsewhere and to foreign companies whose
home offices are in Paris. We are at times obliged to charter
ships to send over $60,000,000 worth of material to Japan a year,
as we sometimes have orders for several thousand tons at a time
and the regular ships can only take about 3,000 tons apiece. Our
Cuban trade amounts to $5,000,000 annually. The Chinese take
large qualities of defective materials, such as sheets and bars.
We have secured orders for 44,000 tons of rails for the Austra-
lian transcontinental railroad."
It was the opinion of the witness that it would have been
impracticable, and even impossible, for a firm having a limited
line of products to have organized successfully any such export
business as the United States Steel Corporation. The diversity
of lines and the financial strength of the corporation have made
it possible to organize an all-comprehensive export sales system,
to pick up some business all the time and to search intelligently
for new markets and for new demands to supply.
Nobody can doubt the correctness of these conclusions.
The secret of the success of the United States Steel Corporation
has not been due to the frequently uttered statement of critics
that it sells cheaper abroad than at home, but rather to the per-
fected organization that has catered to the needs of each
country—by the inauguration of modern export sales depart-
ments, by placing the respective departments in charge of men
of recognized ability keenly alive to every opportunity in the
business world.
And more especially to the fact that this wonderful de-
velopment of foreign trade is due very much to Mr. Farrell him-
self, who is head of the United States Steel Products Co., a
subsidiary organized to conduct the foreign business of the steel
corporation, so masterfully perfected this selling organization
abroad that since his election as president of the corporation it
has been running so smoothly and so successfully as to display
the wisdom, skill and wonderful foresight of Mr. Farrell, who
in many respects ranks as one of the remarkable men of the
century.
It is easy to criticise, but difficult to accomplish, things,
and we sometimes forget that each gigantic corporation cannot
win out without the utilization of those qualities which must
underlie all success in business, aided by the ability and enthu-
siasm of the men engaged in the enterprise.
W
maximum of effective production and to maintain it there; to de-
velop methods of manufacture; to preserve discipline among his
men ; to watch constantly that the product of their labor is up to the
required standard; to keep down the idle hours resulting from
absences.
"He is an important part of the industrial machine. His rela-
tions to the clerical department should be confined to suggestions
on methods as they affect manufacturing. In a number of cases
where foremen have been relieved of clerical labor it has been
found that an astonishing amount of time was wasted, the in-
crease in the effectiveness, of supervision after the change being
immediate and large."
E noticed in the Iron Age recently some remarks which
are so applicable to conditions in some factories in the
music trade that we reproduce them herewith. They are right
to the point and well worthy of consideration and adoption in
many piano plants:
"Many shop foremen are compelled to devote too great a share
of their time to clerical work, which could be done just as well
by low salaried clerks. The condition is wholly natural: it comes
on almost insidiously, so far as realization by the management is
concerned, in the establishment of improved methods of keeping
costs and increasing the efficiency of the establishment in other ways.
The foreman's essential functions are to bring his department to a,

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