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THE MUSIC TRADE
REVIEW
EDWARD LYMAN BILL - Editor and Proprietor
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NEW
YORK,
JULY
2 4 , 1915
EDITORIAL
I
N an interesting comment on export trade conditions, bearing
upon musical instruments especially, the New York Times
says: "It is not usual to look upon the demand for pianos as an
index of business, but manufacturers say that the state of the piano
business in South America is usually a good barometer of general
conditions there. For that reason they are encouraged by the fact
that for the first time since the war began South American music
dealers are showing an inclination to buy pianos and Pianolas in
appreciable quantities. The foreign department of the Aeolian Co.
has recently received orders from dealers in Argentine, Chile.
Brazil and Peru, and while the purchases were of the less expensive
instruments the officials consider these order- indicative of better
business and financial conditions generally.
*
"During the past year the volume of business placed in South
America by salesmen from the United States has been disappoint-
ingly small. This condition is ascribed to the fact that the out-
break of the war came with the market carrying large stocks of
goods. With their warehouses filled and their European credit
cut off. South American merchants did not welcome salesmen until
recently, when conditions had improved to such an extent that they
were forced to consider replenishing stocks.
"The present orders for pianos indicates that at last stocks
are being exhausted, and in the opinion of A r olian officials this will
be found true of merchandise line; generally, as the state of the
piano business in South America is usually a good index of general
conditions there."
We may say as a further confirmation of improving export
conditions that The Review has received within the past two weeks
a number of letters from piano bouses in various parts of South
America making inquiries about pianos for their territories, as well
as inquiries from prominent export houses in New York who have
conditional orders from customers and desired the names of manu-
facturers in this country producing certain styles of pianos which
should be shipped to their territory and sold at a certain price—a
verv ubstantial one, we may add.
In two instances the inquiries called for "knocked dovn"
pianos, inasmuch as the instruments had to be shipped over the
REVIEW
mountains on mule back. These pianos were formerly made in
Germany. We doubt very much whether manufacturers here can
supply our South American friends with "knocked down" pianos.
A couple of manufacturers in the past made pianos which could be
taken apart for easy installation in small apartments, but the demand
was so small that their manufacture was not continued to any extent.
T
HE closer intercourse among piano manufacturers these days,
thanks to national and local associations, and the formation
of Piano Clubs in New York and Chicago, has brought about a
condition where it is not as easy as it used to be for an unscrupulous
and designing piano dealer to secure credit, at least from a number
of manufacturers, without the matter leaking out.
Recently, in New York, eight or more piano manufacturers
received each an order from a dealer in a Southern city, who
apparently had little knowledge of the close relations that exist
between these gentlemen and the fact that some manufacturers
control one or more subsidiary incorporated concerns.
He sent orders to two or three houses, the general management
of which is under one control, and this aroused suspicion. The
party in question immediately instituted an investigation and found
that this dealer had failed some years ago and settled on the basis
of thirteen cents on the dollar, and that at the present time he is
placing orders for pianos and players in the East and West despite
the fact that his financial condition, as reported by the mercantile
agencies, is not satisfactory.
The question that has arisen in the minds of the manufacturers
receiving these orders is. What is the purpose of this activity? Has
business taken a tremendous spurt in the Southern city where this
dealer resides? As far as can be ascertained, it has not.
Or is this dealer preparing for a tremendous increase in busi-
ness in the early fall, and placing orders with manufacturers early
to avoid the delay that might ensue when the rush materializes?
Who can tell? Anyway, the Southern dealer referred to has
caused quite some commotion in the local market, and the interro-
gation and exclamation marks are being used very liberally.
T
HE issuance by the Federal Reserve Roard of the rules gov-
erning trade acceptances has aroused considerable interest
among bankers and business men generally. This is a subject
which has been receiving considerable attention from the pro-
gressive members of the piano trade, and important papers cover-
ing acceptances have been read by prominent bankers at association
conventions. The development of two name paper is looked to as
the beginning of a gradual revohition of American business
methods in the banking field.
For a time the single name paper, which is peculiarly American
in character, will continue to dominate in business methods, it is
held by bankers. The two name paper, however, will increasingly
assert itself, it is believed, and will command a very important
place in the financing of commercial needs. The advantage that
such paper will have in the discount rate, bankers believe, is bound
to encourage its growth, and the additional reason that banks are
likely to show a greater readiness to discount such paper promises
to give it a wider market than that found by the single name paper
now in vogue. Two name paper rules in the Continental market,
and is largely the basis on which the great discount market in
London has been built.
T
HE attendance from the East at the annual convention of the
National Association of Piano Merchants to be held in San
Francisco, Cal., next week, will not be as representative as usual,
owing to the lateness of the season, and the long distance to be
traversed by the delegates. The Central and Far West will have
a better showing, however, and it is the earnest wish of the friends
of the association that the gathering will be representative in
attendance and resultful in a business way.
O OMEONE hath said that men are divided into two classes—the
O
workers and the shirkers. In a general way that may be true,
but it strikes us that there's something of shirk about the hardest
worker and a bit of work about the most energetic shirker. And,
other things being equal, in just the proportion that the work domi-
nates the native shirk-success comes,
:
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