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THE MUSIC TRADE REVIEW
REVIEW
PUBLISHED BY EDWARD LYMAN BILL, I n c .
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New York; Secretary and Treasurer, August J. Timpe, 373 Fourth Are., New York.
J. B. SPILLANE, Editor
J. RAYMOND BILL, Associate Editor
AUGUST J. TIMPE
Business Manager
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Departments conducted by an expert wherein all ques-
tions of a technical nature relating to the tuning, regu-
j lating and repairing of pianos and player-pianos are
'• dealt with, will be found in another section of this
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NEW
YORK,
APRIL
2 1 , 1917
EDITORIAL
in the music trade industry, as in fact in almost
B USINESS
every commercial line, has been materially affected during
the past week, owing to the prevalence of war preparations, and
the prominence of war topics in the daily press. This, of course,
was inevitable following the breaking of our relations with Ger-
many, but it is generally expected that within a few weeks
conditions will so settle themselves that the interruption to
progress in the industrial field will prove to have been but tem-
porary.
As President Wilson pointed out in his great economic
message to the people this week, "no army with guns and banners
was ever charged with a graver responsibility for its country's
welfare than those soldiers of the deep mines, the furrowed
fields, the factories and the railroads." Hence the business man
who keeps a level head and a firm hand on the business tiller is
working effectively for efficiency and success. This does not
mean any lack of patriotism; on the contrary, it is the best ex-
emplification of American character.
Business in the music trade industry will be just what we
make it. There will be ample opportunity to be patriotic and
still look after business. It is the time not so much for talk as
for action all along the line. Commenting on the conditions of
trade and the business of the banks, Dun's Review in its latest
issue says:
"Changing conditions in business result from the national
exigency, but thus far the economic readjustments have been
effected with a minimum of unsettlement. Both producing and
distributing interests give precedence to Federal requirements,
and in banking circles action has been taken with a view to
facilitating the proposed extensive financing. The leading indus-
tries, as expected, receive additional stimulus from government
contracts of magnitude, allotted at special figures, and most of
the works are pushed to the limit of capacity, with further heavy
demands foreshadowed.
"It is discouraging to those who have hoped for general
reaction to see the commodity markets go still higher. All know
that recoil from the present extreme levels must inevitably fol-
low, but in only one week of the last fifteen have recessions
outnumbered advances in a list of over 300-wholesale quotations,
and none can say with certainty when the upturn will culminate.
"Extensive payments through the banks continue at the
leading centers, and total clearings this week amount to
$4,871,876,361, an increase of 20.7 per cent, as compared with the
same week last year and of 61.2 per cent, as contrasted with the
corresponding week in 1915."
ITH the declaration of war and the voting by Congress of
W huge
sums to carry on the campaign and to make loans to
the allies, it was naturally assumed that there would be new
taxes levied all along the line, with the music trade as an industry
and as individuals taking a proportionate share.
According to the proposals of Secretary of the Treasury
McAdoo just announced, taxes may be placed on musical instru-
ments, talking machines, etc.. sufficiently high to bring in revenue
estimated at $7,000,000. If the proposed division of taxation be-
comes a law it will thus be seen that the proportion assessed
against each piano and each talking machine will represent a
very substantial amount.
According to those in close touch with the situation the tax
will be levied at the source. In other words, the manufacturer
will have to pay—which means that the tax must eventually be
assessed against the ultimate purchaser through increased prices
all along the line.
It is interesting to note that in Secretary McAdoo's list
musical instruments are apparently considered as luxuries, yet it
is pertinent to call attention to the fact that in Great Britain's
list of war industries, that is, industries which the Government
maintains are necessary even under war conditions, are included
the making of pianos and, unofficially, talking machines.
;
The piano men of the United States must pay their share
of the expenses of war just as must the members of other indus-
tries. It is right and just that they should,.but there still remains
a question of their paying more than their just share.
',
Secretary McAdoo's figures are to be considered merely tenta-
tive, and may be changed about entirely before a definite law is
approved and passed by Congress. The figures may be taken,
however, as showing which way the wind blows, and the mem-
bers of the piano trade individually, and particularly through the
medium of their State and national associations, should watch
developments carefully, to the end that the industry be not dis-
criminated against in the final adjustment of taxes; that it stands
its just share, but not more than its just share.
T
HE importance of the Victor-Macy case and the interest
developed in the question before the United States Supreme
Court, while the decision was being awaited, resulted in a mass
of free publicity in the daily papers that from some standpoints
may not prove to the best interests of the industry, regardless
of what effect the decision will have.
A careful study of the Supreme Court's finding by attorneys
of standing leads them to the belief that the decision affects
only a particular type of license and does not in any sense strike
a blow at the principles of price maintenance, and that con-
tractual relations which existed between the Victor Talking Ma-
chine Co. and its jobbers and dealers before the decision are still
binding. In other words, definite contracts providing for the
maintenance of retail prices are still perfectly legal contracts,
regardless of what license notice may appear on the machines
themselves. It is to be hoped, for the good of the trade, that
such an interpretation of the decision is the correct one.
HE address of George W. Gittins upon his election to the
T
presidency of the New York Piano Manufacturers' Associa-
tion last week, in which he seriously advised the piano manufac-
turers to readjust themselves to meet changing conditions, is not
to be taken as the outburst of a calamity howler, but rather as the
able advice of a piano man who knows and sees, and who, knowing
and seeing, feels it incumbent upon him to advise caution. And it
may be stated right here that the manufacturers who listened to