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THE
MUSIC
TRADE
REVEW
PUBLISHED BY EDWARD LYMAN BILL, Inc.
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T. B. Spillane, 373 Fourth Ave., New York; Second Vice-President, Raymond Bill, 373
Fourth Are., New York; Assistant Treasurer, Wm. A. Low.
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WILSON D. BUSH, Managing Editor
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V. D. WALSH, W M . BRAID W H I T E (Technical Editor), E. B. MUNCH, L. M. ROBINSON,
C. A. LEONARD, EDWARD LYMAN BILL, A. J. NICKLIN, L. E. BOWERS
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Departments conducted by an expert wherein all ques-
PI
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tions of a technical nature relating to the tuning,
regulating and repairing of pianos and player-_pianos
-— •——-m~— l — — r
are dealt with, will be found in another section of
this paper. We also publish a number of reliable technical works, information concerning
which will be cheerfully given upon request.
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Vol. LXX
NEW YORK, JANUARY 3, 1920
No. 1
AN UNPRECEDENTED HOLIDAY TRADE
before has the Christmas buying season resulted in such
N EVER
a clean sweep of musical instruments. The shortage of stock
that existed right through the year, combined with the entire stop-
page of production in certain sections through strikes, resulted in
the cutting down of available goods to a dangerous limit, and when
the stimulated holiday demand came along retailers were hard put
to satisfy it, even in part.
There have been some skeptics who have maintained that the
shortage in some cases was more or less exaggerated; that only
comparatively few sales were lost because goods were not avail-
able; that dealers cried shortage because they were unable to have
an unlimited supply of instruments in storage. The appearance of the
warerooms on Christmas Eve belied this statement. Even on Piano
Row in New York, where the great majority of stores are operated
by manufacturers, wareroom floors closely resembled deserts. There
might be one or two pianos visible, but that was more or less a
matter of accident. Even laymen took occasion to comment upon
the lack of stock, which in itself should afford ample proof. A
number of warerooms were closed down early on Christmas Eve,
simply because there was nothing left to sell—not even samples
upon which to take orders for future delivery. Used pianos sold
qudte as readily as new instruments, and the result is that a number
of retail houses enjoyed a housecleaning that they could not have
brought about ordinarily even through the medium of a most extrava-
gant special sale.
All this leads to the belief that even with production plans for
the new year working out according to schedule the demand will
still keep ahead of available supplies for an indefinite period, all
of which should mean a healthy industry.
ENCOURAGING FOREIGN TRADE
of the trade interested in the development of foreign
M EMBERS
trade were pleased at the passage recently of the Edge Bill
by the United States Senate, which now has become a law through
the President's signature. This bill so amends the Federal Re-
REVIEW
JANUARY 3, 1920
serve Act that large credit corporations may be formed to finance
business undertakings in foreign countries with long credit periods
calculated to afford financial and industrial relief for the countries
of Europe that have been prostrated by the demands of five years
of war.
The passage of the Edge Bill will undoubtedly stimulate the sev-
enty billions of international trade which has been virtually derelict,
owing to the apparent indifference or backwardness of many of
our industrial institutions in actively participating in a movement
that would mean much not only for American industry but for
the larger interchange of products with European and South Ameri-
can countries.
Already it is understood that a number of industrial investors
have organized tentatively and are prepared to enter promptly on
various enterprises that are awaiting the time when the corpora-
tions can begin business. The function of the Edge corporations
will be to supply what is lacking to make our financial power effec-
tive—a knowledge of foreign affairs.
There has been great timidity on the part of many American
business houses in entering foreign trade. This has been due largely
to the fact that by selling at home it has always been easy to find
institutions to finance their needs. If this were not possible they
would have to stop manufacturing, because they could not meet
their weekly wage bill.
It may be said that the principal purpose of the Edge Bill is
rather to find the funds for payrolls than to find profits from the
sellers of goods to go abroad. It enables American manufacturers
to finance their foreign business on a plan similar to that on which
they now conduct their domestic trade, thereby rendering foreign
trade attractive.
The Edge Bill will also have another salutary effect, and that is
to lend greater stability to the exchange market, and in this way
help to stimulate the domestic market by relieving it of the pressure
of our excessive productive capacity. In speaking of the enactment
of this export finance measure, Senator Edge, who prepared and
introduced the original bill, points out that Congress has now done
its part, and done it well, and says it is up to the American business
men to take advantage of the opportunities opened to them as
quickly as possible. The piano industry may find some food for
thought in the Senator's statement.
PRACTICAL AMERICANISM
American workmen in other piano factories would show the
I ard F same
real spirit of Americanism as those employed by the Pack-
Piano Co. they would be taking a course that would be cal-
culated to save much trouble and financial loss, if not actual suffering
for themselves, as well as for the manufacturers and retailers of
pianos.
The Packard workmen quite recently discovered that there was
employed in the factory a man who was not in sympathy with Ameri-
can ideals and who expressed himself as opposed to our present
form of government. Instead of being influenced by his attitude,
the workmen combined together and presented a petition to the
Packard Co. urging that this particular man be dismissed, expressing
in their petition the sentiment: "We, the undersigned employes of
the Packard Piano Co., believe in the established form of govern-
ment of the United States. So believing, we do not feel we should
tolerate the presence of any one in our organization who does not
so believe."
It has been proven, time and time again, that the bulk of the
trouble in manufacturing plants during the past six months has
been due directly to the influence of radicals—men who in no sense
have the welfare of the workers at heart, but simply make it their
aim to promote unrest, dissatisfaction and class hatred—in short,
the principles that form the basis of Bolshevism. In many cases
the manufacturer is not in close enough touch with his employes
to learn of or check the activities of these radicals until too late,
but if the employes themselves, as in the case of the Packard men.
are sufficiently loyal to take matters in their own hands, then they
will benefit not only their employer but also themselves. The
action of the Packard employes is an exhibition of Americanism and
good common sense that has seldom, if ever, been equaled in this
trade of ours, and one which is justly a cause for pride on the
part of the Packard organization.