Music Trade Review

Issue: 1922 Vol. 74 N. 1

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THE
MUSIC
TRADE
REVIEW
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, Raymond Bill, 37i
Fourth Ave., New York; Secretary, Edward Lyman Bill, 373 Fourth Ave., New York;
Assistant Treasurer, Wm. A. Low.
J. B. SPILLANE, Editor
RAY BILL, B. B. WILSON, BRAID WHITE, Associate Editors
WILSON D. BUSH, Managing Editor
CARLETON CHACE, Business Manager
L. E. BOWERS, Circulation Manager
Executive and Rcportorial Staff
EDWARD VAN HARLINGEN, V. D. WALSH, E. B. MUNCH, LEE ROBINSON, C. R. TIGHE,
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Pi an ft and
Departments conducted by an expert wherein all ques-
-IlallU allU
tions of a technical nature relating to the tuning,
llpnartniPntC
regulating and repairing of pianos and player-pianos
V c u a l U l l C U i a a r e dealt with, will be found m another section of
this paper. We also publish a number of reliable technical works, information concerning
which will be cheerfully given upon request.
Exposition Honors Won by The Review
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Connecting all Departments
Cable Address: "Elbill, New York"
Vol. LXX1V
NEW YORK, JANUARY 7, 1922
No. 1
THE YEAR-END LUNCHEON IDEA
T
HE Year-End Luncheon of the New York piano trade, which
has become an accepted annual event, is an idea that reflects
distinct credit upon those who keep the plan alive by their interest
and their presence. For competitors to get together once a year
around the luncheon table to talk over- the business results of the
past twelve months and to wish each other good fortune during the
twelve months to come means the introduction of idealism into the
piano trade in a thoroughly practical sense.
The Year-End Luncheon idea is one that might be adopted with
advantage by members of the music industry in every city in the
country if only to get away from cold business facts for an hour or
two at the end of the year and meet competitors in the proper holiday
spirit. It doesn't cost much in either time or money, but the results
that have been proven in the case of the New York men are well
worth while. The spirit of camaraderie at the Year-End Luncheon
is one that is not duplicated at any other trade gathering throughout
the year.
PROTECTING THE TRADE ACCEPTANCE
F
OR several years the leading bankers, financial men and business
men of the country were strong in their endorsement of the trade
acceptance idea as a means of stabilizing credits, with the result that
the acceptance lias come into almost universal use. It is but natural
that the unscrupulous should seek to devise means for adapting the
sound trade acceptance to questionable uses for their own ends—to
secure money through dishonest practices.
The bright spot in this cloud of doubt, however, has been the
energy shown by the National Association of Credit Men in sup-
porting banks and others engaged in the prosecution of those who
have issued, or endorsed, trade acceptances with dishonest purposes
in view.
In New York at the present time, in the Court of General Ses-
sions, there is scheduled for trial an action brought by a local bank
against two former clothing manufacturers on the charge of issuing
REVIEW
JANUARY 7, 1922
fraudulent trade acceptances. One of the defendants discounted
trade acceptances amounting to over $5,000, which were accepted by
the other defendants. When the latter was called upon for payment
he refused on the ground that he had signed the acceptances merely
as accommodation to his friends. The banker recovered judgment
in civil action and the defendants have now been indicted for fraud
in the transaction.
The National Association of Credit Men has emphasized par-
ticularly to the District Attorney of New York the importance of
this case, which is held to be the first real test of the integrity of the
trade acceptance, and it is believed that if the case is proven against
the defendants and they are severely punished the lesson will not be
lost on others who may contemplate putting into effect the same
shrewd practices.
The trade acceptance has been welcomed as the means of putting
credits on a sound basis, providing liquid assets instead of stagnant
book accounts for active business houses, and eliminating many of
the dangers that lie in the open account. The success of the trade
acceptance in the future depends upon the energy with which its in-
tegrity is upheld by the courts.
THE GENERAL MUSIC STORE
D
EVELOPMENTS during the past year have demonstrated most
emphatically the advantages possessed by the general music store
as against the store devoted entirely to the sale of one type of musical
instrument in the scramble for such business as was available, or
could be unearthed.
The real reason for the success of the general music store was
that the demand appeared to vary during the year, first turning to
pianos, then to talking machines, then to musical merchandise, etc.
From late Spring until early Fall those stores fortunate enough to
handle musical merchandise reported that that was about the only
active department in their establishment. Then came the revival of
general busines's and an increased demand for the more expensive
instruments, pianos and talking machines, which reached a normal
status, or better, by Christmastime.
The experience of the year would seem to encourage the average
retailer to ask why by confining himself to one line he should be
compelled to remain inactive for certain periods of the year while
waiting for the dbnand to develop for his particular line. If musical
merchandise will sell in the Summer months, when larger instruments
are not so much in demand, why not take advantage of the fact to
handle small goods and do business? The sales organization is there,
and might as well be working as resting.
There is no question but that the general music store idea has
gained strength and has proven itself to be logical. The music
industry has devoted itself earnestly to the development of musical
appreciation with a view to creating a demand for musical instru-
ments, and it would seem that the proper thing to do is to be ready
to meet that demand after it is created and not be in a position to
serve only a certain proportion of it.
THE TARIFF SITUATION
T
H E progress of the hearings on the tariff in Washington offers
much material for the earnest consideration of the business men
of the country, including those of the music industry who are inter-
ested in having enacted a measure that will offer suitable protection
to the industries of the country without bringing about new com-
plications.
The passage of a new tariff bill has always been attended with
considerable excitement and argument, for at best the majority of
the clauses in such a measure are included for selfish reasons and
the average business man is quite as anxious to see that the materials
he buys abroad are duty free or subject to a very low tariff as he is
that his manufactured products receive the fullest protection against
foreign goods.
The opportunity is presented for the drafting of a tariff measure
that is broad enough to protect American interests without leaving
our manufacturers open to the charge of developing monopolj
and sufficiently sound to make it desirable as a permanent fact
Failing to pass such an ideal measure the next best thing is for
business men to see to it that any new tariff act is sound in princip^
simple in construction and devoid of freak clauses that are inserted
to meet certain domestic demands that are not workable in actual
practice.
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
JANUARY 7, 1922
THE MUSIC TRADE REVIEW
to an average estimate of 125,000 pianos as the
output for the year, as a result of general depres-
sion, periods of idleness and subnormal produc-
tion in the factories. This figure, he declared,
represented only one piano for every thousand
inhabitants of the country, a figure so low that
it could not but help emphasize the possibilities
for developing the piano demand during the
months or years to come.
In closing, Mr. Lawrence called attention to
the next annual convention and suggested that it
be developed into a great music jubilee conven-
tion, with all the factors of the music world co-
operating with the trade itself in putting over a
great celebration.
The luncheon, as usual, came to an end with
the singing of "Auld Lang Syne."
Those present at the luncheon included W. B.
Williams, R. W. Lawrence, Paul B. Klugh, W. J.
Keeley, Herbert Simpson, R. D. Janney, Francis
Connor, Albert E. Strauch, Albert E. Strauch, Jr.,
George W. Gittins, W. C. Heaton, A. L. Wessell,
Ben H. Janssen, W. E. Janssen, Jerome L. Ack-
erley, Samuel G. Lindeman, Morris R. Lamb,
L. D. Perry, William B. Plaisted, Milton Weil,
Charles H. Parsons, George W. Allen, C. M.
Tremaine, George H. Bliss, F. E. Edgar, C. H.
Addams, Joseph Oktavec, Chris Garritson, C. T.
Purdy, R. E. Bretzfelder, Edwin Jarrett, Charles
Howard, W. C. Hepperla, J. A. Coffin, Anthony
Doll, Edwin M. Boothe, Otto Heinzmann, G. R.
Lindeman, Gordon Campbell, Hugo Ricca, A.
Dalrymple, Alex. Lane, Allan B. Lane, William
C. Keogh, Alfred L. Smith, George Holz, E. B.
Bogart, Charles Jacob, C. Albert Jacob, Julius
Winter, H. H. Harkavy, A. W. Johnston, M.
Max, E. J. Winterroth, A. E. Faeth, Charles A.
Green, Carl E. Peck, Ashley B. Cone, Mark P.
Campbell, E. E. Vidaud, R. B. Aldcroftt, Max J
deRochemont, J. R. Schwartz, U. Uquhart, B. P.
Sibley, E. G. Brown, C. L. Dennis, Albert Behn-
ing, Corley Gibson, H. E. Williams, E. Lyman
Bill, Carleton Chace, B. B. Wilson and others.
PASSING OF j^OUlS C. L00MIS
H. W. DAVIS APPOINTED TRUSTEE
Deceased Was Well Known in New England
Trade Circles—Was Partner in Firm of
Morehouse & Loomis, Hartford, Conn.
Takes Charge of Affairs of F. fa. Smith, Inc.,
Webster Piano Co. and Wilcox & White Co.—•
To Continue the Business for Thirty Days
HARTFORD, CONN., January 2.—Louis C. Loomis,
well known in local business circles and for
many years connected with the music business
here, died at his home recently, following an ill-
ness of some duration.
Mr. Loomis was formerly associated with
Chickering & Sons in Boston as foreman tuner.
Several years later he returned to Hartford and
entered his father's business, Loomis' Temple of
Music. Charles and William, brothers of the
deceased, were also connected with the concern.
Later he became a partner in the firm of More-
house & Loomis, where he remained until ill
health forced his retirement two years ago.
He is survived by his widow and four chil-
dren, one of whom, Arthur F. Loomis, is asso-
ciated with Knabe & Co. as a district manager.
A meeting of the creditors of F. G. Smith, Inc.,
the Webster Piano Co. and the Wilcox & White
Co. was held in the office of Peter B. Olney,
Referee in Bankruptcy, at 86 William street, New
York, Friday morning, December 30, for the pur-
pose of appointing a trustee and handling other
matters of importance.
Horace W. Davis, 56 Pine street, New York,
who for some time past has been operating the
Smith and Webster plants in Leominster, Mass.,
and the Wilcox & White plant in Meriden, Conn.,'
as manager for the receivers, was elected trus-
tee for F. G. Smith, Inc., under a bond of $25,000
of the Webster Piano Co., under bond of $10,000
and of the Wilcox & White Co. under bond of
$20,000, with authority to continue the business
for thirty days.
Another meeting of the creditors of the three
companies will be held in the offices of the Ref-
eree in Bankruptcy on Wednesday, January 18,
for the purpose of examining the officers of the
companies.
NEW YORK PIANO MEN GATHER AT YEAR-END LUNCHEON
Annual Luncheon Attended by Leaders of the Metropolitan Music Industry—Charles H. Parsons,
Ben H. Janssen, R. B. Aldcrofft, R. W. Lawrence and Others Speak
The year-end luncheon of the piano trade, held
at the Hotel McAlpin on Thursday of last week,
was particularly notable for the spirit of good
fellowship and optimism that prevailed gen-
erally. The occasion brought together about 125
of the representative members of the local trade,
who gathered to wish each other well for the
New Year after reporting a very satisfactory
finish for the old.
Ben H. Janssen, A. Dalrymple and Albert
Behning, as usual, looked after the details of the
luncheon and provided a program that was gen-
uinely interesting.
Unfortunately, General
Sherrill, who was scheduled as the principal
speaker, was detained at the last moment by
some court matters and sent a telegram to the
chairman expressing his regrets at his absence
and tendering his best wishes to the piano men.
There was brought into evidence, however, con-
siderable oratorical talent from among the lunch-
eon guests themselves.
During the course of the dinner there was en-
tertainment by some professional talent, al-
though the feature was the singing of William
Bonner, a young tenor of much prominence, who
also sang at last year's luncheon.
Before starting with the speeches, a silent
toast was drunk to the memory of Frederick
Kranich, of Kranich & Bach, and William E.
Baldwin, of the Indicator, two members of the
local trade who have passed away during the
year.
Charles H. Parsons, who has graced with his
presence practically all the year-end luncheons,
with the exception of that held last year, main-
tained that the depression in trade during 1921
was due to the fact that he had not had the
opportunity to offer advice for the year. After
some humorous comments, Mr. Parsons took
occasion to predict a period of good business,
but at the same time condemned strongly the
tendency of certain manufacturers to go back
to long terms of credit in their anxiety to. get
business. "Such men do not need advice," de-
clared Mr. Parsons. "What they need are strait-
jackets."
Ben H. Janssen, "poet laureate" of the trade,
made good on his reputation by reading a poem
in dialect entitled "Troubles," and reciting some
of the problems of the piano manufacturer. The
poem, though written nearly a decade ago, fitted
in mighty well with the present situation.
Richard B. Aldcroftt, president of the Music
Industries Chamber of Commerce, was the next
speaker, and emphasized the necessity for the
trade generally to maintain interest in, and sup-
port of, the organization work of the industry,
for the purpose of developing business as well
as of providing protection in time of need. He
stated that any tendency to slacken up on asso-
ciation interests after the first of the year with
the excise taxes removed would be a grave mis-
take, giving some excellent reasons for his state-
ment. He particularly emphasized the need for
continuing the work of cultivating music appre-
ciation, and called attention to the proposed
Caruso Memorial as one of the means to that
end.
Alexander S. Shoninger, president of the Na-
tional Piano Travelers' Association, spoke briefly
and read a little poem about the traveling man,
being followed by E. B. Bogart, president of the
New York Piano Manufacturers' Association.
The final speaker was Richard W. Lawrence,
who delivered a thoroughly optimistic address
emphasized the fact that the year 1922 opens
^infinitely better than did 1921, with the process
iquidation practically over, inventories greatly
puced, a substantial demand in prospect and
•rything calculated to spell active business.
• n the course of his talk Mr. Lawrence referred
THE BEST KNOWN
MUSICAL NAME
IN THE. WORLD.
SELLS PIANOS THROUGH CATALOGS
Brooklyn Branch of Story & Clark Piano Co.
Makes Sales With Help of Catalog When
Christmas Buyers Deplete Stock
The Brooklyn branch of the Story & Clark
Piano Co. has enjoyed an unusual holiday busi-
ness, and the sales volume exceeded that of last
year, according to H. L. Reichard, manager. So
great has been the demand for Story & Clark
pianos at this establishment that a number of
models have been completely sold out, and many
sales were closed by Mr. Reichard through the
catalog illustrations. Player-pianos led the
demand.
Mr. Reichard was made manager of the Brook-
lyn branch in September last, when he re-entered
the company after an absence of three years, dur-
ing which he was connected with the New Eng-
land Music Co. at Waterbury, Conn.
TWO NOTED PIANISTS IN RECITAL
Ethel Leginska Uses a Steinway and Leo
Ornstein Uses Knabe Piano in Recital
One of the most notable events of the present
musical season in New York City was the joint
appearance of Ethel Leginska and Leo Ornstein,
both famous musicians, in a recital for two
pianos at Aeolian Hall on last Friday evening.
The program included Mozart's Fugue in C
minor, Schubert's Theme and Variations, Op. 35,
Mozart's Sonata in D major and the first per-
formance of Ornstein's Sonata, Op. 89. Miss
Leginska used the Steinway and Mr. Ornstein
the Knabe piano.
BUYS ASSETS OFTX>RONTO CONCERN
Frank Stanley Takes Over and Will Continue
Business of Cecilian Co., Ltd.
TORONTO, ONT., December 31.—An interesting
transaction in piano trade circles is the purchase
by Frank Stanley of the assets of the estate of
Cecilian Co., Ltd., which firm made an assign-
ment in August of this year. Acceptance of Mr.
Stanley's offer has just been announced for all
the assets, which includes good-will, book debts,
factory building and equipment at 89 to 91
Niagara street, Toronto; all the pianos, player-
pianos and phonographs in process and com-
pleted, all materials and supplies, patterns, dies,
trade-marks, the unexpired lease and fixtures of
the retail store at 247 Yonge street.
Mr. Stanley stated that he had definitely de-
cided on a policy of continuing the manufac-
ture of Cecilian pianos and player-pianos, and
that the firm name of Cecilian Piano Co. will
be continued at the same address as before.
PIANO MAN TALKSJO ROTARIANS
H. A. Grimsdick, managing director of the Bell
Piano & Organ Co., Ltd., Guelph, Ont., who is
a member of the Guelph Rotary Club, was the
speaker at a recent luncheon meeting of the
Guelph Rotary Club. Mr. Grimsdick's talk nat-
urally dealt with the piano. -
THE BEST PROFIT
PRODUCER FOR THE
DEALER IN THE TffADE%

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