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THE MUSIC TRADE REVIEW
REVIEW
PUBLISHED BY EDWARD LYMAN BILL, Inc.
President, C. L. Bill, 373 Fourth Ave., New York; Vice-President, J. B. Spillane,
373 Fourth Ave., New York: Second Vice-President, J. Raymond Bill, 373 Fourth Ave.,
New York; Secretary and Treasurer, August J. Timpe, 373 Fourth Ave., New York.
J. B. SPILLANE, Editor
J. RAYMOND BILL, Associate Editor
AUGUST J. TIMPE
Business Manager
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W M . BRAID WHITE (Technical Editor), E. B. MUNCH, A. J. NICKLIN, L. E. BOWERS
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Departments conducted by an expert wherein all ques-
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tions of a technical nature relating to the tuning,
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regulating and repairing of pianos and player-pianos
UcJJdl I l l l c l l l s . a r e d e a i t w ; t h f W ,H be found in another section of
this paper. We also publish a number of reliable technical works, information concern-
ing which will be cheerfully given upon request.
Exposition Honors Won by The Review
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NEW YORK, OCTOBER 1 3 , 1917
EDITORIAL
NE of the chief topics of interest in the trade at the present
O
time, or it may be said the topic, is the War Revenue Act
passed and signed last week and the manner in which it affects
the trade interests. At the present time it is a question of watch-
ful waiting until the Treasury Department makes known its inter-
pretation of the various clauses of the bill, and particularly, from
the viewpoint of this trade, that giving the definition and scope
of the term "piano players" used in the section bearing on musi-
cal instruments. Until that term is definitely interpreted, it is
useless to endeavor to forsee what effect the law will have on the
piano industry as a whole. Regarding the tax on talking ma-
chines, records and music rolls, of course, there is no doubt.
The payment of the tax, be it said, offers less cause for worry
to the average piano man than do his problems in meeting the
taxes on excess profits, incomes, etc. Fortunately the retailer
is free of any direct excise tax, which means that the 3 per cent,
tax will be levied on the wholesale cost of the instrument or the
parts thereof, as the Treasury Department may decide.
If the worst comes, and the Treasury Department ruling is
drastic, as it finally stands, there is nothing in the tax that should
upset the trade to any great degree. The tax will, of course,
be passed on from the manufacturer to the retailer, and then
from him to the customer, and should not add enough to the
cost of even the more expensive instruments to seriously affect
retail sales.
Compared with the provisions of the original draft of the bill,
as offered in the House of Representatives last spring, the new
law is a mild measure, and if the changes are due, and they
probably have been in some measure, to the concentrated efforts
of trade associations and individuals, then these interests are to
be congratulated upon the success of their efforts. The excise
tax has not been eliminated, that is true, but it has been reduced
to a point where it can at least be borne without threatening to
bankrupt the industry.
in the music trade industry has shown an upward
B USINESS
trend in both retail and wholesale lines during the past two
weeks, and the general outlook is steadily improving. Increased
employment throughout the country, embracing practically every
member of the family, is bringing into the homes of the people
a larger sum of money, with the result that a share of this is
bound to find its way into the music trade industry—in fact it
is finding its-way now.
Commenting on trade conditions, Dun's in its latest report
points out that "Progress toward better business has been unmis-
takable in some important branches which recently experienced
halting, and more optimistic views of the general situation are
possible. With the gain in actual transactions, which in some
lines has been conspicuous, there has come an increase in the
working force at plants which had been running less actively, or
not at all, and further price recoveries are witnessed in certain
quarters where there had been rather sharp yielding."
Further evidence, if it were needed, of the improving condi-
tions of the country are set forth in the monthly bulletin of the
Federal Reserve Bank of New York, which points out that
"general business conditions in this district are good. Conserva-
tism in buying continues and has had desirable effects, notable
among them being a pause in the upward movement of com-
modity prices and the maintenance of generally satisfactory col-
lections. The general report is that payments are being made
with a promptness gratifying in view of the increased invest-
ments necessary to carry on business under present conditions
and of the firm money rates which have recently obtained. The
volume of business, including Government orders, as measured
in dollars, is above that of recent months and of last year. Cer-
tain industries which experienced depression following our entry
into the war or during the mid-summer period report distinct
revival of business, the automobile industry being a notable
example."
All things considered, there is no reason why the music
trade industry should not incline to a most optimistic viewpoint,
so far as business prospects for the coming winter are concerned.
It is true that the income of a great many people will be cut
down through increased taxation, but money is finding its way
into the homes of millions of people through increased wages who
heretofore had no surplus purchasing power—which means a
new line of piano prospects.
T
HE piano*trade is naturally following out its patriotic duties
and giving its whole support to the floating of the second
Liberty Loan. A number of concerns are calling attention to the
Loan in their regular advertising space in the newspapers and
the various trade organizations have devised plans for getting
subscriptions.
According to reports, however, through the practice of sell-
ing pianos on instalments, the trade is indirectly aiding the Loan
in that direction. The meeting of regular instalment payments
means that the purchaser must adopt a fixed system of saving
and the system persists even after the instrument is paid for.
It is stated that a New York man, who had just finished paying
for a player-piano at the rate of $12.50 per month for forty-six
months, has had the habit of paying montly instalments fastened
on him so irretrievably that he is now paying for $250 worth
of bonds on the same basis.
ACH year witnesses an appreciation of association influence
E
in this trade and a tendency to achieve results along those
lines that have won out so successfully in the larger industries
of the country.
At the last convention in Chicago, as at the State convention
in Ohio, as well as other gatherings recently, there has been
evident a desire to do something more than merely to meet for
a pleasant social time. The aim has been to achieve results
that would inure to the benefit of the music trade industry as a
whole—that would lift it to a higher plane of usefulness to its
members.
A couple of years ago J. Harry Estey, when president of
the National Piano Manufacturers' Association, in addressing the
guests of the New York Association at the banquet at the Hotel
Astor uttered a great truth in discussing the value of an associa-