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THE MUSIC TRADE REVIEW
15
WESTERN FINANCIAL AND BUSINESS MEN OPTIMISTIC.
An Interesting Review of Public Sentiment in the West as Far as It Affects Recent National
Legislation, and the Business Outlook Generally—Better Times Looked for in All Industries.
While the recently prepared Senate bill providing pliance with the law without resorting to litiga-
for an Interstate Trade Commission to regulate tion or violent procedure of any kind.
business irregularities without recourse to the
"After the anti-trust legislation has been disposed
courts is receiving much adverse criticism in East- .of, politics will (become less of a factor in the busi-
ern banking and business circles, it has received the ness and financial outlook, and the public will
approbation of bankers in the Middle West. The breathe easier once more. The unrest witnessed
Mechanics American National Bank of St. Louis last year was largely due to the agitation of the
says that it is conceivable that such a commission, so-called money trust evil and corporation and
if rightly conducted, might become of the greatest railroad abuses. This agitation was carried to a
usefulness and would be an immense aid to busi- point where general business became greatly de-
ness men in building up enterprises and in strength- pressed and constructive enterprises almost par-
ening the activity of interstate concerns.
alyzed. There is likely to be an interesting test
Directors of this bank believe that the outlook over the proposal to incorporate the stock ex-
for improvement in trade and commerce is at pres- changes and to make more stringent laws regulating
ent more reassuring than at any time for a year speculation and the purchase and sale of securities.
past. It is perfectly clear, says a letter sent out by This is a very important question and cannot be
the bank, that anti-trust legislation will be less disposed of without serious consideration of all the
radical than was feared some time ago. The coun- issues involved. The stock exchanges in all coun-
try has President Wilson to thank for forcing Con- tries are extremely useful institutions, and in pro-
gress to take a sane view of the subject, and there viding a market for securities render a distinct
is no doubt that the President will work along con- service to all people. The public is gaining a better
servative lines in an effort to prevent financial knowledge of the proper functions of the stock
exchanges, and it may be doubted whether it will
and commercial disturbance.
"The business interests of the country are going agree to any curtailment of their activities except
through a sort of transition period," the letter in cases where it is clearly shown that they are not
reads, "and, while the situation still calls for very being properly conducted or that their methods of
careful leadership, there is nothing at all alarming doing business run counter to public policy.
about the outlook. On the contrary, the situation
"Few people realize what genuine headway the
is much improved as compared with what it was a country is making through the practice of both
year ago In'fore the reforms of the last twelve public and private economies. People are not
months clarified the atmosphere and made people spending nearly as much money as they did, not
more reasonable in their demands for Government
only because they have not the money to spend,
regulation.
but because the spirit of economy is in the air. This
"Some of the bills recently introduced into Con- is itself an important benefit and will be helpful
gress affecting important concerns represent ex- in enlarging the accumulated savings of the people,
tremely useful legislation and will be helpful in
which were being badly depleted during the period
eliminating many abuses which have been made the of excessive outlays. The extremely difficult money
basis of suits brought by the Federal authorities market tension last year made it impossible for cor-
under the Sherman anti-trust law. An important poration borrowers to secure nearly as large loans
point to remember, however, is that the adminis- as formerly, and the result is that the creation of
tration has announced its policy of co-operating
new indebtedness has been upon a largely reduced
with business men in the effort to secure full com- scale.
"The outlook is all right for better times. There
may be some setbacks encountered, but they are not
likely to be serious. Sentiment has of late shown
distinct improvement, which amounts to a great
deal in a country where the people are as naturally
optimistic as they are in the United States of
America."
The enthusiasm of the public over the currency
law is commented upon favorably, and the change
from one banking system to another is referred to
as a possible signal for a general revival of busi-
ness. The act is called a truly marvelous piece of
legislation, and under its provisions the American
banks are expected to ibe in a position to handle a
large volume of business which they were not able
" Take it all in all, the to conduct under the limitations of the old law.
LAUTER-HUMANA is the
finest playerpiano I know "—
A dealer who pays spot cash, and
doesn't "jolly."
I n t h e LAUTER-HUMANA you
secure a veritable siege-gun. With it you
can carry the war into the enemy's strong-
hold, and win his approval--a n d h i s
pocketbook.
S h o w the LAUTKR-HUMANA to
your prospect who has a preference for
something else ; let him play it for him-
self—and he is yours ! Such is the power
of transcendent quality.
Let us furnish details.
LAUTER
CO.
NEWARK, NEW JERSEY
GODOWSKY AND^THE KNABE.
Godowsky's only piano recital in New York this
Season will be given Saturday afternoon, Febru-
ary 14, when he will b«: heard through the medium
of the Knabe piano, which he plays exclusively, in
a program of Bach, Beethoven, Chopin, Godowsky
and Liszt.
Behning
Ideals
are summed
up in the
words
Artistic
Supremacy
Our line of
Pianos and
Player-Pianos
for 1914 are
Unequalled
PATTON PIANO CO. EXPANDS.
The Patton Piano Co., representative for the
Cable Company's line of pianos and Carola Inner-
Players in Philadelphia, Pa., has been forced, owing
to the increase of its business, to take an addi-
tional floor, the third, in the building which it now
occupies at 718 North Broad street, that city, where
the Cable line is very popular.
Behning Piano Co.
LEAVES ON BUSINESS TRIP.
Office and Factory:
EAST 133rd ST. near ALEXANDER AVE.
W. H. Hutchison, vice-president and traveling
representative for Hazelton Bros., 66 University
place. New York, left this week for a fortnight's
trip through the West, where Hazelton business
at the present time is progressing steadily.
Retail Wareroom.: 425 FIFTH AVENUE
Entrance: 38th ST., EAST SIDE
NEW YORK