Music Trade Review
Issue: 1893 Vol. 18 N. 22 - Page 10
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1HE MUSIC TRADE REVIEW.
i6
C HICAGO.
AND TH£R£ IN
TH£ TRAD£.
CHICAGO, December 13th, 1893.
EDITOR MUSIC TRADE REVIEW :
Either the World's Fair per se, or the financial
stringency and the World's Fair combined, have
killed business, for, barring Thanksgiving week,
very little has been done since the great Expo-
sition closed. While it was in progress our
dealers did little else than cater to and entertain
visitors, and right royally did they do their part
in that respect. They all thought then that
they were merely casting bread upon the waters
that would return in a few short days, but thus
far they have been sorely disappointed. We
have had occasional spurts that gave promise of
better things, but they were short lived. During
Thanksgiving week, Lyon & Healy sold twenty-
three pianos and other houses had an encourag-
ing trade, but since then it has "slumped''
terribly. Now that the holidays are so near at
hand, it is quite natural to expect a revival of
trade, but the cry all around is "dull, very
dull." What the remainder of the month will
bring no one seems to know, and few, with the
present condition in view and the recollection of
the past eight months in mind, care to predict.
Despite the hard times and the very unpromis-
ing outlook, there is, at least, one prominent
member of the trade who goes serenely on,
doing a safe, if not profitable trade, and yet lets
no state of depression check his every-day
beneficences. It is known to very few, even in
Chicago, that P. J. Healy, the head of the great
house of Lyon & Healy, gives away more in
charity in one year than some of our equally
prosperous dealers do in a life time. Like the
true philanthropist, only his beneficiaries and
one or two surrounding him know his many
noble acts.
Not content with his many private benefac-
tions he has recently proposed to a number of
business men that they agree to contribute five
per cent, of their earnings for one day in each
month to relieve the pressing want of the thou-
sands of homeless and friendless now in the city.
An unusual situation confronts our people this
winter as we have, doubtless one of the results
of the World's Fair, more people out of em-
ployment here than was ever known before.
Many plans of relief have been suggested and
some are being carried into effect. It is hoped
that Mr. Healy's suggestion will promptly be
acted on.
Messrs. Rice & Straub have started up their
case factory, and proceeded to cut the first hun-
dred under a contract with one of the leading
houses here.
R. W. Cross, formerly of theRice-Macy Com-
pany, has opened up business on Wabash
avenue, where he handles the Wissner and
Jacob pianos. I am told that he has started out
very well, one of his first orders coming from
Los Angelos, Cal., for a Wissner piano.
The Chicago Cottage Organ Company is mak-
ing a great go with the Conover piano since it
won such laurels at the World's Fair. The
company is pushing it now more than ever.
Mr. George W. Lyon, of Lyon & Potter, has
been in poor health for several months and a re-
cent attack of grip has necessitated a trip
South, which was hurriedly undertaken a few
days ago. His friends hope to see him return in
the spring entirely recuperated.
Mr. H. M. Cable, of the Chicago Cottage
Organ Company, is just back from a long trip
to the East, where he went for rest and recrea-
tion. He seems now fit for any conquest. Mr.
F. S. Cable, of the same company, has just
rounded up an extended business trip through
the West, where he did yeoman service for the
house.
S. T. Osborne, formerly at Mineral Point,
Wis., is now traveling for the Chicago Cottage
Organ Company. Yours etc.,
HARRY MANNING.
A BUSINESS
INSTITUTION,
Some Interesting Statistics.
attention of readers is called to the ex-
cellent business advantages offered by The
National Mutual Building and Loan Associa-
tion of New York. This association is organ-
ized under the laws of New York and is subject
to the supervision of the Banking Department.
Its officers and directors are strong and promi-
nent men who are well known to all New York-
ers.
The success which has attended their
efforts has been very marked. The Association
has some 60,000 shares in force; it had out-
standing loans made to its own members on
December 1st of $1,203,305.00, and the earnings
apportioned among shareholders for the present
year to October 31st exceeded $100,000.
It issues only installment shares, that is, any-
one desirous of joining the Association can do
so upon making application and complying with
its regulations. A ten-share certificate, the
maturity value of which is $100 per share or a
total of $1,000, can be carried on a payment of
60 cents per share payable monthly, or $6.00 per
month, so that if their shares should mature in
108 months from the date of issue, the member
would in that time have paid in $648, and his
profit would be $352. All that is required to do
this is to be persistent'; for the $6.00 per month
necessary to carry a ten share certificate is a
sum which in itself is insignificant, but which in-
vested by this Association, through its methods
of compounding, earns a large profit for the in-
vestor which could not be realized by any other
method that we know of, where the security is
so undoubted as the mortgage of a building and
loan association, for this Association does not
loan to exceed 60 per cent, of the appraised cash
value of the property offered as security, and it
does not loan on unimproved or farm property.
But few people have any conception of the
magnitude of the building and loan investment
in this country. According to tables prepared
by Hon. Carroll D. Wright, of the Labor and
Statistics Department at Washington, he gives
the total assets of building and loan associations
in the United States as $840,000,000, while
the total assets of the savings banks are $1,700,-
000,000; thus the building and loan associa-
tions, which are comparatively a new enterprise,
have accumulated nearly one-half as much as
the entire number of savings banks in the
country.
It is also worthy of notice that the building
and loan associations passed through the recent
panic in a most commendable manner, paying
out money to withdrawing members and meet-
ing the demands of their borrowing members
without the delay which characterized many of
the savings banks.
We are members and advocates of the build-
ing and loan plan of savings, particularly where
the association (as in the case of the National
Mutual of New York) is managed and directed
by competent and experienced men, and would
suggest that our readers write to the Associa-
tion for information concerning this most ad-
mirable institution.
YOU WANT
a newspaper that is
up with the progress-
ive tendencies of the times ? Certainly you
do ! No man is satisfied to do business
without a live, modern, progressive paper.
THE MUSIC TRADE REVIEW is no stranger
to you. It is like the wind, going every-
where. You meet it in the office, in the
wareroom, on the road. It is always pre-
senting new features and the latest news in
a condensed form. The longer a subscriber
takes it the better he likes it. It never
presents stale news, never gives you that
" tired feeling."
fl DOLLAR COUNTS
now-a-
d a y s,
and that is why we are going to make you
a big, liberal offer, including a combination
which covers business and home. Just read
this little offer. THE MUSIC TRADE REVIEW
costs three dollars to receive it every year.
We've told you about that.
costs one dollar
and a half a year.
Some points regarding that ?—certainly ! It
was started ten years ago, has an extensive
circulation among musicians everywhere.
It has lately come into our possession. We
are greatly increasing its circulation in all
sections. Its literary features compare
favorably with any magazine published.
Some of its departments are Literary, Mus-
ical, Artistic, Church Choirs, Woman's
World, the Drama, and all the news of musi-
cians. It is not in the remotest sense a
trade paper.
THE KEYNOTE
RUT IIQTCNI W i t h e v e r y n u m b e r
DU I LIO I CIl I w c give several
pieces of music, which would cost from one
to two dollars in any music store in the
land. The music alone is worth ten times
the cost of the paper.
is this : If you wish to
avail yourself of the
reduction, we will send you THE MUSIC
OUR OFFER
TRADE REVIEW and THE KEYNOTE for
one
year for three dollars. Of course this offer
only holds good for a limited time.
SHOULD YOU
prefer the superb
technical w o r k ,
" The Piano," a standard work for tuners,
over one hundred pages, illustrated, instead
of THE KEYNOTE, we'll send it to you. The
regular price of this book is one dollar.
CAN YOU
invest three dollars where
it will be productive of
greater results ? By this small outlay you
supply yourself with business reading, home
reading, and your family will have from
fifteen to twenty dollars worth of music.
EDWARD LYMAN BILL, Publisher,
No. 3 East 14th street, New York.
1HE MUSIC TRADE REVIEW.
i6
C HICAGO.
AND TH£R£ IN
TH£ TRAD£.
CHICAGO, December 13th, 1893.
EDITOR MUSIC TRADE REVIEW :
Either the World's Fair per se, or the financial
stringency and the World's Fair combined, have
killed business, for, barring Thanksgiving week,
very little has been done since the great Expo-
sition closed. While it was in progress our
dealers did little else than cater to and entertain
visitors, and right royally did they do their part
in that respect. They all thought then that
they were merely casting bread upon the waters
that would return in a few short days, but thus
far they have been sorely disappointed. We
have had occasional spurts that gave promise of
better things, but they were short lived. During
Thanksgiving week, Lyon & Healy sold twenty-
three pianos and other houses had an encourag-
ing trade, but since then it has "slumped''
terribly. Now that the holidays are so near at
hand, it is quite natural to expect a revival of
trade, but the cry all around is "dull, very
dull." What the remainder of the month will
bring no one seems to know, and few, with the
present condition in view and the recollection of
the past eight months in mind, care to predict.
Despite the hard times and the very unpromis-
ing outlook, there is, at least, one prominent
member of the trade who goes serenely on,
doing a safe, if not profitable trade, and yet lets
no state of depression check his every-day
beneficences. It is known to very few, even in
Chicago, that P. J. Healy, the head of the great
house of Lyon & Healy, gives away more in
charity in one year than some of our equally
prosperous dealers do in a life time. Like the
true philanthropist, only his beneficiaries and
one or two surrounding him know his many
noble acts.
Not content with his many private benefac-
tions he has recently proposed to a number of
business men that they agree to contribute five
per cent, of their earnings for one day in each
month to relieve the pressing want of the thou-
sands of homeless and friendless now in the city.
An unusual situation confronts our people this
winter as we have, doubtless one of the results
of the World's Fair, more people out of em-
ployment here than was ever known before.
Many plans of relief have been suggested and
some are being carried into effect. It is hoped
that Mr. Healy's suggestion will promptly be
acted on.
Messrs. Rice & Straub have started up their
case factory, and proceeded to cut the first hun-
dred under a contract with one of the leading
houses here.
R. W. Cross, formerly of theRice-Macy Com-
pany, has opened up business on Wabash
avenue, where he handles the Wissner and
Jacob pianos. I am told that he has started out
very well, one of his first orders coming from
Los Angelos, Cal., for a Wissner piano.
The Chicago Cottage Organ Company is mak-
ing a great go with the Conover piano since it
won such laurels at the World's Fair. The
company is pushing it now more than ever.
Mr. George W. Lyon, of Lyon & Potter, has
been in poor health for several months and a re-
cent attack of grip has necessitated a trip
South, which was hurriedly undertaken a few
days ago. His friends hope to see him return in
the spring entirely recuperated.
Mr. H. M. Cable, of the Chicago Cottage
Organ Company, is just back from a long trip
to the East, where he went for rest and recrea-
tion. He seems now fit for any conquest. Mr.
F. S. Cable, of the same company, has just
rounded up an extended business trip through
the West, where he did yeoman service for the
house.
S. T. Osborne, formerly at Mineral Point,
Wis., is now traveling for the Chicago Cottage
Organ Company. Yours etc.,
HARRY MANNING.
A BUSINESS
INSTITUTION,
Some Interesting Statistics.
attention of readers is called to the ex-
cellent business advantages offered by The
National Mutual Building and Loan Associa-
tion of New York. This association is organ-
ized under the laws of New York and is subject
to the supervision of the Banking Department.
Its officers and directors are strong and promi-
nent men who are well known to all New York-
ers.
The success which has attended their
efforts has been very marked. The Association
has some 60,000 shares in force; it had out-
standing loans made to its own members on
December 1st of $1,203,305.00, and the earnings
apportioned among shareholders for the present
year to October 31st exceeded $100,000.
It issues only installment shares, that is, any-
one desirous of joining the Association can do
so upon making application and complying with
its regulations. A ten-share certificate, the
maturity value of which is $100 per share or a
total of $1,000, can be carried on a payment of
60 cents per share payable monthly, or $6.00 per
month, so that if their shares should mature in
108 months from the date of issue, the member
would in that time have paid in $648, and his
profit would be $352. All that is required to do
this is to be persistent'; for the $6.00 per month
necessary to carry a ten share certificate is a
sum which in itself is insignificant, but which in-
vested by this Association, through its methods
of compounding, earns a large profit for the in-
vestor which could not be realized by any other
method that we know of, where the security is
so undoubted as the mortgage of a building and
loan association, for this Association does not
loan to exceed 60 per cent, of the appraised cash
value of the property offered as security, and it
does not loan on unimproved or farm property.
But few people have any conception of the
magnitude of the building and loan investment
in this country. According to tables prepared
by Hon. Carroll D. Wright, of the Labor and
Statistics Department at Washington, he gives
the total assets of building and loan associations
in the United States as $840,000,000, while
the total assets of the savings banks are $1,700,-
000,000; thus the building and loan associa-
tions, which are comparatively a new enterprise,
have accumulated nearly one-half as much as
the entire number of savings banks in the
country.
It is also worthy of notice that the building
and loan associations passed through the recent
panic in a most commendable manner, paying
out money to withdrawing members and meet-
ing the demands of their borrowing members
without the delay which characterized many of
the savings banks.
We are members and advocates of the build-
ing and loan plan of savings, particularly where
the association (as in the case of the National
Mutual of New York) is managed and directed
by competent and experienced men, and would
suggest that our readers write to the Associa-
tion for information concerning this most ad-
mirable institution.
YOU WANT
a newspaper that is
up with the progress-
ive tendencies of the times ? Certainly you
do ! No man is satisfied to do business
without a live, modern, progressive paper.
THE MUSIC TRADE REVIEW is no stranger
to you. It is like the wind, going every-
where. You meet it in the office, in the
wareroom, on the road. It is always pre-
senting new features and the latest news in
a condensed form. The longer a subscriber
takes it the better he likes it. It never
presents stale news, never gives you that
" tired feeling."
fl DOLLAR COUNTS
now-a-
d a y s,
and that is why we are going to make you
a big, liberal offer, including a combination
which covers business and home. Just read
this little offer. THE MUSIC TRADE REVIEW
costs three dollars to receive it every year.
We've told you about that.
costs one dollar
and a half a year.
Some points regarding that ?—certainly ! It
was started ten years ago, has an extensive
circulation among musicians everywhere.
It has lately come into our possession. We
are greatly increasing its circulation in all
sections. Its literary features compare
favorably with any magazine published.
Some of its departments are Literary, Mus-
ical, Artistic, Church Choirs, Woman's
World, the Drama, and all the news of musi-
cians. It is not in the remotest sense a
trade paper.
THE KEYNOTE
RUT IIQTCNI W i t h e v e r y n u m b e r
DU I LIO I CIl I w c give several
pieces of music, which would cost from one
to two dollars in any music store in the
land. The music alone is worth ten times
the cost of the paper.
is this : If you wish to
avail yourself of the
reduction, we will send you THE MUSIC
OUR OFFER
TRADE REVIEW and THE KEYNOTE for
one
year for three dollars. Of course this offer
only holds good for a limited time.
SHOULD YOU
prefer the superb
technical w o r k ,
" The Piano," a standard work for tuners,
over one hundred pages, illustrated, instead
of THE KEYNOTE, we'll send it to you. The
regular price of this book is one dollar.
CAN YOU
invest three dollars where
it will be productive of
greater results ? By this small outlay you
supply yourself with business reading, home
reading, and your family will have from
fifteen to twenty dollars worth of music.
EDWARD LYMAN BILL, Publisher,
No. 3 East 14th street, New York.
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