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THE
MUSIC
TRADE
REVILW
PUBLISHED BY EDWARD LYMAN BILL, Inc
President and Treasurer, 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^ Assistant Treasurer, Win. A. Low.
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\]
J . B. SPILLANE, Editor
J . RAYMOND BILL, Associate Editor
Executive a n d Reportorial Staff:
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BOSTON OFFICE:
JOHN H. WILSON,
324 Washington
CHICAGO OFFICE:
St.
E.
P.
VAN HARLINGEN,
Republic
DECEMBER 7, 1918
The export business has a tremendous effect upon domestic
commerce, for it. means an increase in importations to keep up the
trade balance, and, by increasing the output of factories, servesito
reduce manufacturing costs proportionately, and to regulate domestic
supplies by taking the surplus production beyond the borders instead
of dumping it in our own country with possible price cutting as a
result. The reconstruction plans of the Government call for con-
siderable attention to the question of export business, and it is a
question that should receive the earnest consideration and encour-
agement, of every one who wants to see American business grow
and prosper in the future.
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B. BBITTAIN WILSON, CARLETON CHACE, L. M. ROBINSON, WILSON D. BUSH, V. D. WALSH,
W K . BRAID WHITE (Technical Editor), E. B. MUNCH, A. J. NICKLIN, L. E. BOWERS
'
REVIEW
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under the Act of March 3, 1879.
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REMITTANCES, in other than currency forms, should be made payable to Edward
Lyman Bill, Inc.
Departments conducted by an expert wherein all ques-
tions of a technical nature relating to the tuning,
regulating and repairing of pianos and player-pianos
___
are dealt with, will 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.
a a l n i i U l
Exposition Honors Won by The Review
Grand Prix..
Paris Exposition, 1900 Silver Medal. .Charleston Exposition, 1902
Diploma.. .Pan-American Exposition. 1901
Gold Medal. . . . S t . Louis Exposition, 1904
Gold Medal. .Lewis-Clark Exposition, 1905
H E movement just launched in Kansas City to provide a
musical memorial for the men from that city who, as members
of the American Expeditionary Forces, gave their lives in the cause
of democracy, is not only interesting, but worthy of the thorough
support of trade and professional musical interests, as well as of
the citizens generally. The idea as set forth in T H E REVIEW last
week is to raise a fund to place a $100,000 pipe organ in a suitable
building and give free concerts daily, thus doing constant honor
to the memory of the city's heroes.
The granite shaft is pleasing to the eye, and stands out as an
impressive memorial, but its material value is practically nil. A
memorial such as that proposed in Kansas City, original as it is, by
bringing music to the masses in the name of those whom it is de-
signed to honor accomplishes the purpose that is worthy an ideal,
and it is to be hoped that the idea is not only carried out to final
consummation in Kansas City, but is accepted as a model in other
cities who likewise desire to honor those of their citizens who have
fallen in the war. Nothing more worthy can be conceived than that
the memory of the nation's heroes should be honored with music—
in itself one of the noblest of the arts.
LONG DISTANCE TELEPHONES—NUMBERS 5983—5983 MADISON SQ.
Connecting all Departments
Cable address: "Elbill, New York."
O K R V I C E to the public and profit to the enterprise—are these
^ not, broadly speaking, the two chief ends of business? There
Vol. LXVII
NEW YORK, DECEMBER 7, 1918
No. 23 are periods when no special skill is required in the operation of
business to attain at least profit making, but again and generally,
skill is required in holding the enterprise to the two chief ends,
and probably at no period of our industrial history has skill been
so definitely and clearly demanded as right now.
In this connection, the point that calls for the closest sort
F there ever was a time for earnest consideration of retail credits
of study on the part of every credit man is the turnover, that
and the using of extreme care in the granting of terms on retail
it be just as rapid as possible. The manufacturer aims to make
sales, the present is that time.
each machine unit as efficient as possible. It must be made to
.
During actual war conditions the piano retailer had an excuse
j for demanding cash and short terms, due to the fact that he re- turn out the maximum production, else it is an unprofitable ma-
chine. W h y isn't the same thing true of merchandise? Other
quired hard cash to carry on his business, discount his bills and
things being equal, every day added to the carrying of the stock
secure his proper share of available new stock.
increases its cost and diminishes the possible profit. The stock
'
The possibility of a freer market, however, has brought to
must be kept revolving, must be kept as liquid as possible, and
light the fact that the status of many prospective purchasers has
liquid here means always on the point of selling. And the same
been entirely changed. While there was plenty of war work going
on, millions of men were drawing unheard-of wages, and for the is even more true of accounts. The longer they are carried, the
less productive they can be made, the less profit we can get out
time being represented excellent credit risks.
of them.
The coming of peace, however, according to authority, will
i result in a reallocation of practically six million workers, and it
This frequent turnover goes hand in hand with short sales
may mean that the man who was in the $4,000 class a few months
terms. And as J. 11. Tregoe, the prominent authority on credits,
ago.is now, or will soon be, in the $1,500 or $2,000 class. Not only
points ouf: "The credit man himself ought talk, act, and live
will his credit value to the piano merchant be materially reduced.
dollar efficiency. Doing so, he serves his own concern best, and
, but the fact that he will have to adjust his living according to his his customer best. It is poor policy to be lenient. That policy
new scale of income will mean that he will have practically no free
hurts him who extends and him who receives the supposed favor.
money until such adjustment is finally brought about.
The change from a policy of leniency to one of businesslike accu-
Protection for the piano merchant, therefore, is to demand
racy in making the dollar as represented in stock and accounts
short terms in any case, and to be very particular as to the per- highly efficient means disciplining the customer, in all tact and
manent status of the customer to whom he sells, for that customer's
persuasiveness of course, but it means a greater self-disciplining
ability to pay depends not only upon his present income, but upon
for the credit man who is handling the situation."
his income as it is likely to be after the readjustment takes place.
But these are days calling for discipline in civil and military
life, and the conditions are ripe to make all understand; so let
HE development of the American Merchant Marine as a war us make the dollar do its full day's work every day, whether
represented in accounts receivable or stock, which means short,
measure has served to direct an unusual amount of interest to
definite terms, rapid turnover, with the result of economies in
a peacetime utilization of this immense fleet of ships already built,
and in process of building, that will carry the American flag on the business which will make business serve the better.
seven seas. This situation emphasizes the earnest development of
export trade about which so much has been said and written.
NDICATIONS point to the fact that the coining Christmas season
will be-a musical one to a greater degree than ever before. Wise
This matter of export business is of vital interest not only to
the piano manufacturer but to the piano merchant, whether or not piano dealers will take advantage of this fact, and lay their mer-
chandising plans accordingly.
he is directly interested in shipping pianos to foreign parts.
EDITORIAL
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