Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
MARCH 2, 1918
THE MUSIC TRADE
REVIEW
KEEPING CLOSER WATCH ON CREDITS
(Continued from page 3)
appeal to the local banker will depend for its strength upon the manner in which his business methods will stand
up under scrutiny.
It is not to be assumed that accounts must be ioo% perfect, for in every business there must be bad
accounts, but care in granting credits to retail purchasers, and extreme care afterward to see that the credit
privilege is not abused, will go far to reduce the percentage of loss to a minimum. Instalment accounts are not
to be estimated at their face value on the books, but rather on the basis of what they will represent in actual
cash when the time comes for them to be met.
The house that watches its credits and its collections is not going to experience any unusual difficulties, in
securing credit when it is required, and this is a good point to remember when credit conditions are as they exist
today. Sell pianos, yes, but see that they are sold well and that they are paid for promptly!
though the recurrence of a cold wave in some sections has tended
to hinder the process of recovery. With the continued absence
of further general and severe storms, however, the derangement
of production and distribution is steadily lessened, and appre-
ciably larger shipments of raw materials and merchandise reflect
the breaking of the transportation deadlock. Efforts to augment
outputs of urgently needed supplies are more successful as the
percentage of idle machinery diminishes through the freer move-
ment of fuel, and the adjustment of some labor controversies has
improved the industrial outlook and made possible the resump-
tion of full operations on certain important Government work.
"Payments through the banks at the principal cities in the
United States, as reflected in clearing house transactions, again
display moderate improvement, total clearings this week amount-
ing to $4,297,162,243, an increase of 8.1 per cent., as compared
with the same week last year."
OHN N. WILLYS, president of Willys-Overland, Inc., the
great automobile manufacturers, is a great believer in main-
taining the highest degree of industrial activity where it doesn't
interfere with the production of the necessary essentials to keep
our men at the front supplied with every requisite, for Govern-
ment necessities in connection with the war must receive first
consideration. In discussing this subject he said the other day:
"The war has given opportunity for a great deal of platform
oratory and, as always happens under similar circumstances, a
variety of theories are advanced, some of which are highly prac-
tical and some of which need only a moment's consideration to
convince one that the orator has not given the subject any real
thought and consideration.
"We have on our hands to-day the most important job that
any nation ever had and it is essential that we analyze carefully
J
the various theories which have been advanced and as a result
follow only the course which will be of benefit to this Nation
in this war with Germany, instead of, through ignorance and
lack of consideration, finding ourselves working for the Kaiser.
"While the manufacturers of this country have practically
unanimously notified the Government that they are anxious to
help in the production of materials for war, there is, however,
no way of determining as yet to what degree war essentials will
absorb the entire productivity of the country.
"Any attempt to direct public purchases beyond this limit
of war essentials might easily work a hardship on many indus-
tries. If thousands of people were thrown out of employment a
depression would be created which might be reflected immediately
in the public attitude toward the war. We cannot fight the
Kaiser and hard times at the same time. We require prosperity
in this country with which to win this war, if that prosperity
does not interfere with the building of munitions. Is it not
therefore wisest for us to follow the policy of filling the Govern-
ments contracts with the utmost speed and keep the rest of our
productivity going in accord with public demand, so that the
vast army of the American people at home are in a position to
support the Government with a spirit of optimism and also with
enough money to help market the bond issues which are coming
up from time to time?
"It is important now to keep money circulating. The price
a man pays for any manufactured product represents in a very
large measure wages paid out to the workingman and money paid
for materials. It goes to the baker, butcher, etc. It maintains a
circulation of money which we all recognize as an essential factor
in prosperity. We are going to win this war. We are going to
win through prosperity here. And I urge that form of optimism
from every man who lifts his voice."
GETTING DOWN TO PLAIN PLAYER FACTS
The education of the public along player lines is a* necessity for the expansion of the player business.
There is no doubt of that; and education of the piano merchants and salesmen is also a vital necessity,
because through them will come a powerful force in the education of the public; and right here we wish to
remark that we have produced a line of books upon the player-piano which comprehensively covers the
entire player situation.
In this respect this trade newspaper stands alone, for it has been the principal source from which player
information has been available for piano merchants and salesmen for a period of years. Our latest book,
"The Player-Piano Up to Date"
is the best of the series. It contains upwards of 220 pages of matter bearing directly upon the player.
Every piano merchant and piano salesman should have a copy of this book within easy reach. It
gives to readers a fund of information not obtainable elsew 7 here.
It contains a series of original drawings and a vast amount of instructive and educational matter, as
well as a detailed description of some of the principal player mechanisms.
It costs $1.50 to have this book delivered to any address in the United States, and your money will be
refunded if you are not satisfied with the book after examination. No one yet has availed himself of this
opportunity. Foreign countries, 15c. to cover extra postage, should be added.
Estate of EDWARD LYMAN BILL, Publisher
373 Fourth Ave., New York