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THE MUSIC TRADE REVIEW
12
APRIL 20, 1918
CONDUCTING A RETAIL PIANO BUSINESS IN WAR TIME—(Continued from page 11)
courage expenditure in every channel of legiti-
mate business. If. you take away from the
American people the opportunity of making
Milton Weil, manager of the retail warerooms
"There exists now, and will exist for an in-
money, how are they going to be able to give
of
Krakauer
Bros,
on
West
Forty-second
street,
definite
period a stock shortage, and the piano
to the Government for the promotion of the
New York, who has had wide experience in merchant should see to it that he places the
proper valuation on the instruments at present
"There is no classification of men in Amer- piano selling in various fields, maintains that on his floor, whether they are new or second-
ica who are more patriotic than the piano deal- present conditions in the trade and in the coun- hand. With new pianos hard to get, second-
try as a whole offer an unrivaled opportunity
ers. There is no phase of business that is
for the average piano retailer to wake up and hand instruments often prove a real boon to the
hit harder by the war than the piano business. put his business on a basis such as it has never retailer, and that fact should be considered in
We say, 'Keep all business going at the fullest enjoyed before.
setting a value on it. Moreover, those who seek
capacity possible under existing conditions,
"The question as I see it is primarily one of to rent pianos instead of buying outright must
keep everybody working, keep everybody mak- making proper terms of payment and insisting be called upon to pay the price.
ing money, keep our mental equilibrium, in on them," said Mr. Weil, "in order that piano
"The retailer in maintaining prices and terms
other words, keep as near normal as possible, paper may reach quick maturity, and that the at a high point is merely protecting himself,
then everyone can save money for the war.'
dealer may present figures regarding his assets particularly if any of his paper is being car-
"We think that the principal fundamental that are real. The time is coming when the ried by the local bank. Bankers are shutting
back of the success of any business is an honest piano business will be placed upon a straight down on all kinds of paper. Piano merchants
desire to serve the public with consideration commercial basis, where it should be, and will have already had the experience of seeing their
and fairness, also the ability to convey this be in ideal condition. What is needed is back- credit at the local bank cut 50 per cent., with
knowledge to the public.
bone on the part of the dealer and confidence the collateral basis increased from two to one to
"We adhere to the one-price system, and feel in his fellow merchants, that will enable him to perhaps four to one. Is it logical to suppose
that it is the only system when carried out con- either obtain his terms or permit the prospect to that the banker who can buy 4% per cent. Lib-
scientiously. There are times when on account go out of the store. The trouble thus far is erty Bonds maturing in ten years, and backed
of changing conditions it becomes necessary to that the average merchant wouldn't let a cus- by the U. S. Government, will be inclined to
make special inducements to the public, in order tomer go out of the store because he felt that invest any large proportion of his resources in
to move the congestion of a certain character of the other fellow was going to meet that cus- one or two-name piano paper running for sev-
stock, provided the price when marked down is tomer's demand on terms which he himself eral years at only 5 per cent.?
maintained.
"This is the time for the piano merchant to
wouldn't.
"We are now putting on the only sale we
"It is a known fact that long terms mean loss put his house in order, and he can only do it by
have ever held during the thirty-three years of in the piano business. My experience has never getting the proper prices for his instruments at
business in San Francisco. We think a stock found $5 to $6 a month instalment customers their present or future valuations, taking into
should be kept up-to-date, and if special induce- anything but a liability. They cost more to account, of course, the curtailment of manufac-
ments are necessary to relieve the congested handle from a collection and sales standpoint ture and then seeing that those prices are paid
conditions upon a certain character of stock, we and require more dunning than any other class. up in the shortest possible time. It is just a
feel it a good thing, a necessity to the business To make the sale break even, or better, the mer- question of insisting upon fair prices, short
and a benefit to the purchaser. We feel it is chant must see to is that the payments are terms, and recognized business methods gen-
unfair to the public to expect the regular retail made promptly. In a great many cases in do- erally, and of having confidence in one's self and
purchase price for an instrument after the style ing this he offends the customer, and causes in the competitor down the street, who has the
...'. ;
has become passe, or after new improvements him to attack that particular piano house and same business problems to face."
have been brought out, and for that reason we its methods at every opportunity. The cus-
The Calder Co., New Haven, Conn., has been
believe that a special sale of instruments of this tomer paying $12 or $15 a month very rarely
incorporated
with capital stock of $50,000 to
requires
any
extended
dunning
and
cleans
up
character is an excellent thing when conditions
engage in the retailing of musical instruments.
his account quickly and satisfactorily.
justify it."
Secure Better Selling Terms, Says Milton Weil
m
HALTtheHUN?
In defense of
Liberty
Justice
and
Civilization
We must use every weapon at our command.
And not the least of these is money. Never
in the history of the world has there been a
truer cause. Invest in
LIBERTY BONDS
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