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THE MUSIC TRADE REVIEW
PUBLISHED BY THE ESTATE OF EDWARD LYMAN BILL
(C. L. BILL, Executrix.)
J. B. SPILLANE, Editor
J. RAYMOND BILL, Associate Editor
AUGUST J. TIMPE
Business Manager
Executive and Reportorial Staff:
B. BRITTAIN WILSON,
CARLETON CHACE,
L. M. ROBINSON,
GLAD HENDERSON,
A. J. NICKLIN,
WM, B. WHITE,
WILSON D. BUSH,
L. E. BOWERS,
D. G. AUGUR
BOSTON
OFPICEJ
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Departments conducted by an expert wherein all ques-
Plavoi*
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tions
relating to the tuning, regu-
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a n a d technical
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8 o f P^nos and player-pianos are
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wi ij b e f oun d ; n another section of this
paper. We also publish a number of reliable technical works, information concerning
which will be cheerfully given upon request.
Exposition Honors Won by The Review
Grand Prix
Paris Exposition, 1900 Silver Medal. . .Charleston Exposition, 1902
Diploma . . . . Pan-American Exposition, 1001 Gold Medal
St. Louis Exposition, 1904
Gold Medal. .Lewis-Clark Exposition, 1905.
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NEW Y O R K , M A Y 6 t 1 9 1 6 .
EDITORIAL
ness which they are doing to-day. The profit which they would
ordinarily make is fast being wiped out by the high cost of supplies.
Either the quality of their wares must be decreased or else the price
must be increased. The first course is illogical and practically
suicidal, not only to the individual who might adopt it, but also to
the industry as a whole. The only solution for the problem which
confronts the manufacturers today is to advance the wholesale prices
of their instruments to such a degree as will counterbalance the in-
creased cost of supplies. Piano manufacturers cannot hope for any
degree of progress or prosperity until this is done. The sooner this
problem is met and solved, and the sooner the manufacturers realize
the necessity of such an action, the better for the industry.
a year ago the New York Piano Manufacturers' Asso-
O VER
ciation and its guests, listened to an able address on the
g-eneral use of trade acceptances for the improvement and stabil-
izing of the credit situation in the trade. Since that time there
has been much said and written about the use of acceptances
but very little has been really done in introducing that system
in the piano trade. It has been said that the acceptance plan
has not been adopted by the piano trade to any extent owing to
the fact that its principles have not been fully understood by
either manufacturers or dealers and the fear of further credit
tangles has held the piano men back.
With the growth of business in this country and the hopes
that are held out for the development of our export trade, it is
believed in general business and banking circles that a new sys-
tem, or rather, the tested acceptance system, is required. In
order to accquaint business men with the relative advantages
and disadvantages of acceptances, the American Exchange
National Bank has prepared a most interesting and valuable
monograph on the subject, which is now ready for distribution.
The booklet is written in non-technical, understandable lan-
guage, sums up the history of the bills of exchange system in
vogue in this country, and also tells much of the credit system
used in France and Germany. A new credit system that pro-
tects the manufacturer is much to be desired, for when the manu-
facturer is protected the dealer is not forced to pay, as part of
the purchase price of the goods he handles, a stiff percentage
to cover bad credit risks for which he himself is not responsible.
OR many months past The Review has constantly called atten-
N many occasions The Review has emphasized the import-
F
tion to the imperative necessity for an upward revision of prices
O
ance of having an official representative of the piano trade
on pianos and player-pianos. Many manufacturers have demon-
strated their far-sightedness and their good business judgment by
increasing the price of their instruments in order that the increased
cost of raw materials might be covered, but if the problem presented
by the constantly increasing cost of supplies is to be permanently and
logically solved, it is necessary that every piano manufacturer follow
the example set by those referred to above.
There is not a single article which enters into the construction
of a piano that has not advanced in cost, from the steel plates and
hardwoods all the way down to the inconsequential but necessary
rubber tips on the fallboard. The reasons for the increasing cost
of all raw materials have been stated so fully and so often that their
repetition here is of no value. The fact remains, however, that
prices have advanced, and that if present indications are to be
taken as a criterion they will advance still further.
This fact is now realized by manufacturers generally, many of
whom were loathe to believe that this condition would become an
actuality, even after the prices on all manner of supplies had shown
evidences of a sharp advance. But now that this state of affairs is
fully realized, it is of paramount necessity that piano manufacturers
as a whole advance their prices, unless the very stability of the
industry itself is to be seriously undermined.
Were the profits in the piano manufacturing business an ab-
normal one, the manufacturers might be able to stand the increased
cost of manufacture without any serious difficulty. Competition has
reduced the average profit on the manufacture of a piano to a very
small percentage over the actual cost of its making, and in many
cases the amount of profit formerly made by the manufacturer has
been almost entirely wiped out by the greatly increased cost of the
raw materials which he uses.
Piano manufacturers, like everyone else, are in business to make
money. They are entitled to a legitimate profit on their business, and
indeed, after the dull years through which the industry has recently
passed, they are in need of an equitable profit on the increased busi-
to look after legislation, both in Albany and in the various cities
of the State, with a view to protecting the members of the trade
from measures tending to increase the difficulty of doing busi-
ness, or that, as has been the case in many instances, would
serve to discriminate against those selling goods on instalment.
A year or two ago the New York Piano Manufacturers' Asso-
ciation discussed the matter but did not take any definite step
towards retaining- a permanent legal advisor. Recent develop-
ments have again emphasized the necessity for such a legal
advisor of the association, and the result has been that the action
of the executive committee in authorizing Henry H. Harkavy to
act as legal representative for that body has met with the full
endorsement of the association as a whole. Through arrange-
ments with a law firm in Albany, Mr. Harkavy will be able to
keep in touch with all legislation and judge whether or not it
will affect the interests of the piano trade before it has progressed
to any degree. This appointment is one of the most important
things done by the association for some time past, and should
serve not only to remove any cause of worry from the minds
of the piano men, but save in actual money much of the cost of
fighting inimicable legislation passed in Albany.
HERE has long existed a strong sentiment throughout the busi-
T
ness world toward taking the tariff question out of politics. In
this connection it is interesting to note that the bill to create a tariff
commission which was revised and introduced into the House by Rep-
resentative Rainey of Illinois, has been analyzed and endorsed by a
special committee of the Chamber of Commerce of the United States.
This action means that in the opinion of the committee the bill
accords with the principles for which the membership of the National
Chamber declared in a referendum which was carried by an over-
whelming vote. Therefore the committee is now asking the members
of the Chamber of Commerce of the United States to support the
Rainey Bill, and to do what they can toward its enactment.