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THE MUSIC TRADE
EDWARD LYMAN BILL - Editor and Proprietor
J. B. SPILLANE, Managing Editor
Executive and Reportorial Staff:
B. BRITTAIN WILSON,
A. J. NICKLIN,
CARLETON CHACE,
AUGUST J. TIMPE,
BOSTON OFFICE:
JOHN H. WILSON, 824 Washington St.
_ , , ' . .
„„
Telephone, Main 6950.
PHILADELPHIA:
L. M. ROBINSON,
W M . B. WHITE,
GLAD HENDERSON,
L. E. BOWERS.
- CHICAGO OFFICE:
£• P. VAN HARLINGEN, 37 South Wabash Ave.
HENRY S. K. KINGWILL, Associate.
Telephone, Central 414.
R o o m 808 .
MINNEAPOLIS and ST. PAUL :
ST. LOUIS:
R. W. KAUFFMAN.
ADOLF EDSTKN.
CLYDE JENNINGS,
CINCINNATI,
O.: JACOB
WALTERS.
INDIANAPOLIS,IND.:
STANLEY
II. SMITH.
SAN FRANCISCO:
S. II. W.
GRAY,
88 First St.
DETROIT
MICH.: MORRIS
J. WHITE.
BALTIMORE, MD.: A. ROBERT FRENCH.
MILWAUKEE, WIS.: L. E. MEYER.
KANSAS CITY, MO.: E. P. ALLEN.
PITTSBURG, PA.: GEORGE G. SNYDKR.
LONDON, ENGLAND: 1 Gresham Buildings, Basinghall St., E. C.
Published Every Saturday at 373 Fourth Avenue, New York
Entered at the New York Post Office as Second Class Matter.
SUBSCRIPTION (including postage), United States and Mexico, $2.00 per year; Canada,
$3.60; all other countries, $4.00.
ADVERTISEMENTS, $8.00 per Inch, single column, per insertion.
On quarterly oi
yearly contracts, a special discount is allowed. Advertising Pages, $90.00.
REMITTANCES, In other than currency forms, should be made payable to Edward
Lyman Bill.
Departments conducted by an expert wherein all ques-
tions of a technical nature relating to the tuning, regu-
lating and repairing of pianos and player-pianos are
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.
Player-Piano and
Technical Departments.
Exposition Honors Won by The Review
Grand Prix
Diploma
__^_
Paris Exposition, 1900 Silver Medal- • .Charleston Exposition, 1902
Pan-American Exposition, 1901 Gold Medal
St. Louis Exposition, 1904
Gold Medal. .Lewis-Clark Exposition, 1905
DISTANCE TELEPHONES—NUMBERS 5982—5983 HADISON SQ.
Connecting* all Departments
Cat>l« address: "Elbill, New York."
NEW YORK, J A N U A R Y 24. 1 9 1 4
EDITORIAL
T
HE chief subject of discussion at the meeting of the Executive
Committee of the National Association of Piano Merchants
held in New York last week was the best way and means for in-
creasing the membership of the association and particularly plans
for increasing the attendance at the annual conventions of that
body. The subject of membership is one of the most important
coming within the scope of the association, for the larger and more
representative the membership in that body just so much more
effective will be the work of the organization in all ways.
Every piano merchant of standing should be a member of the,
association, not only for his own benefit, but for the benefit of the
great industry of which he is a part. The present officials of the
association should use every means in their power, in person and
by letter, to bring the matter to the attention of their friends and
associates in the trade, and urge the importance of the association
as a national factor. Its usefulness has already been proved.
I
N no department of publicity has there been greater advance
than in trade journalism during the past decade. The man
who desires to know what is going on in his particular field of in-
dustry finds that his only source of specific information is the
reliable trade journal.
And why ?
Because the trade journal has specialized and brings not merely
the news of the world to him in a condensed and readable form,
but it brings as well many suggestions and points which are of value
to him in the conduct of his business.
Take a publication like The Music Trade Review. It repre-
sents the work of more than one hundred men in each issue. That
number includes men in every department scattered all over the
country. After the sifting process has been concluded at the office
of publication, the paper is presented and the man who wishes to
know how to get more trade and to add to his business knowledge
reads that paper closely. In that way he keeps up with his com-
petitors.
A wide-awake, successful music trade dealer remarked the
REVIEW
other day that years ago he was not a reader of trade papers, but
he said he had found during the past five years that the papers
that were worth while had been of tremendous advantage to him in
his enterprise.
He said that he read The Music Trade Review carefully each
week and that if it cost him ten dollars a year instead of two he
would never be without it.
The advertising display in the trade paper is of value, for its
pages reflect statements made by manufacturers who are doing,
things—hence, their announcements should be closely read.
Every dollar that a man invests in trade papers is a dollar
invested where it will bring the largest kind of returns, and a music
trade establishment which is without one or two good, strong publi-
cations is standing in its own light. For a modest investment there
is nothing which pays better than a trade publication. It keeps
readers posted as to what is going on in the world and supplies a
valuable amount of constructive matter which should be read by
merchants and salesmen everywhere.
T " H E average American business man sticks so closely to busi-
X
ness that when he is able to enjoy a relaxation from cares
and responsibilities he is not in a physical condition to get the most
out of it.
Col. E. S. Conway, however, proposes to slow up on detail
work from this time on and get more out of life outside of business
than heretofore. For forty-two years he has given unswerving
devotion to the affairs of the Kimball organization. Surely, that is
a long period, and a man who has served that time is entitled to a
respite from the ordinary grind of business duties, l i e has ar-
ranged so he can have more leisure for himself and for travel, but,
as he remarked to The Review last week, "I am not in any sense
retiring from business thought or business direction."
On the first of February Col. Conway is going to take an ex-
tended trip through Europe which will require about ninety days,
after which time he will be at his old post in Chicago, occupying
his former place as a directing power in the affairs of the Kimball
organization. His relaxation from business will be entirely optional
with him. If he wishes to close his desk at noon and enjoy the
afternoon on the golf links, or on the road in his car, he will follow
out his inclination in this or any other direction.
In brief, he retires from the grind of detail work, and surely
after more than four decades of active service he has fairly won
the right to exercise free reign regarding his future movements.
T
HE newly-enacted currency statute will not let down the bars
so far as credits are concerned, as many people have stated,
and some very timely remarks of interest to the piano trade were
made recently on the subject by W. C. Cornwell, an authority, who
said: "The class of paper available for rediscount at the Federal
reserve banks must be of liquid character. The maturity of ninety
days does not, of course, mean that only paper made for that length
of time can be used. On the contrary, no matter for how long
originally drawn, the obligation must fall clue within ninety days.
"The tendency among banks, in order to be equipped with
plenty of available paper, will be to encourage their customers to
avoid renewals. Loans which are not liquid, even though well
secured, will not be looked upon with as much favor. All this will,
of course, tend to make the banking assets of the country sounder.
And, too, the influence upon merchants and others, by encouraging
promptness and more liquidity in financial arrangements, will, in
the end, be beneficial for all business.
"There is some belief prevailing in regard to the new measure
that it is intended, as it is called, to make credit easier. This calls
up a vision of loosening up on the part of the banker as to the
character of loans which will pass muster.
"Nothing of the kind is in contemplation and no such effect
will follow. Credit is one of the functions which can only be safely
determined on business principles, and legislation which attempts
to make it unnaturally liberal, is sure to bring disaster. The bill
does not affect the status in this respect.
"It only supplies greater facilities for extending safe credits.
This will result in ample, but legitimate expansion. This does not
mean inflation. The two are as different as gold and gas. The
effect, with the banking situation free from annual contraction of
loanable funds, will be to stabilize business."