Music Trade Review
Issue: 1893 Vol. 18 N. 23 - Page 10
i6
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
to place payments as creditor on any demand he
might have against the debtor at the time of the
payment, would not abrogate the previous con-
tract touching the collaterals and their proceeds,
no express mention or reference thereto being
made in the subsequent agreement.
CORPORATION—STOCK—PURCHASE—FRAUD.
THE MUSIC TRADE REVIEW.
TRADE INQ£RMANY.
A POINTS OF SUPERIORITY
K
'
OF THE
Celebrated
"Conover"
Pianos.
The Kentucky Court of Appeals held, in the
recent case of The Paducah Land, Coal and Iron
Company vs. Hayes, that where the directors of
a corporation purchased land for the corporation
and issued stock in payment of the purchase
price, and immediately thereupon a part of the
stock thus issued was transferred to a trustee
for the benefit of directors, they must be regard-
ed as having made the purchase under a private
arrangement by which they were to get back for
their own personal benefit a part of the purchase IMPURITY AND SWEETNESS of TONE.
price paid out by the company ; that the stock ^-SCIENTIFIC CONSTRUCTION.
transferred to the trustee was issued in fraud of
(THE ONLY STRICTLY
the rights of stockholders, and should be can-
HUGH GRADE PIANO
MANUFACTURED
celed, and that although the appellee to whom a
BEAUTY.
IN CHICAGO)
block of that stock was transferred to induce
him to become president of the corporation was
not a party to the arrangement by which the
stock was issued, and was innocent of any
wrong in the procurement of the shares obtained
SOLE FACTORS.
by him, yet as he paid nothing for the shares
and they constituted no part of his salary, and
(The Largest Dealers in Pianos anil Organs in the World.)
he could, after he became president, have ascer-
tained by reasonable inquiry the true history of
WHOLESALE AND RETAIL WAREROOMS,
their issue, he should have surrendered them
when they were demanded of him, and failing
215 WABASH AVE.,
to do so he was liable for their value at the date (SECOND FLOOR.)
of the demand for their return. He was not
CHICAGO.
liable for the price at which he might have sold
them, however, according to the opinion of the
court, as his was not a wrongful conversion.
CHICAGO COTTAGE ORGAN COMPANY,
Mrs. Wickwire : "From the happy expression
you had when Mrs. Potts was singing one
might imagine that you enjoyed that sort of
thing. You don't break out into happy smiles
over my singing.''
Mr. Wickwire: " I wasn't smiling over her
singing. I was just thinking how lucky I was
that she belonged to Potts instead of myself."
A barrel-organ factory was destroyed by fire
not long ago. The police are looking for the in-
cendiary. It is supposed the people want to
present him with a valuable testimonial.
A youth who is learning to play the cornet
cannot understand why people who shoot at cats
will be so careless. Half-a-dozen stray bullets
have already come through his window.
"CROWN" PIANOS
AND ORGANS.
Ye have heard, ye have heard, of the great
renown
Of these organs and pianos so grand :
They are built to last and are called the
"Crown,"
The best ever made, the best in the land.
The touch is responsive, like something divine,
The tones are so full, so sweet and so clear :
Till wave after wave of music sublime
Floats into silence, and heaven is near.
In finish and style they excell others far :
Oh, beautiful gems, the pride of our land :
No changes of climate or seasons can mar,
While triumph of skill and ages, they stand.
Queen of all others, deserving the " Crown,"
All nations I ween have heard of thy fame,
Victorious forever, we yield thee the palm,
Fresh laurels we bring and twine with thy
name.
Enterprising dealers ail over the Country are
fast securing the agency for the wonderful
A.
B.
CHASE
PIANOS.
Wonderful in Tone Quality.
Wonderful in Selling Qualities,
Style, Finish, Strength,
Action, Durability and Popularity,
and
Improvement of Tone by Age and Use.
The Company Scrupulously protect their
agencies,
and
Never change when it can be avoided.
Hence the agency becomes more valuable
every year.
I f you can, you should secure it at once,
by writing to
THE A. B. CHASE CO.,
NORWALK, OHIO.
the general depression of trade, which
seems during the year now closing to have
afflicted almost every country in the world, Ger-
many has not escaped. During the first three
quarters of the present year, compared with the
analogous period in 1892, there was a decline in
German imports of all sorts of five and a half
millions of marks. It is true that the exports
have slightly increased in value, but the differ-
ence is said largely to have been made up of ex-
ports of gold. As with us, however, the imports
still very largely exceed the exports. In regard
to the musical instrument trade generally the
official figures are made up in the somewhat in-
convenient form of per 100 kilos. In America
the official figures give the exact number of in-
struments exported, while here, as we know, the
pecuniary value of the goods alone is dealt with.
The Germans, however, prefer the weight sys-
tem. During the first 10 months of the present
year it seems that the total export of pianos,
harmoniums, and reed organs was 55,710 hun-
dred kilos. The figures are not a little interest-
ing, and we therefore reprint them from the
pages of our esteemed contemporary, the Musik
Instmimenten Zeitung, as follows :
Pianinos, grands, har-
Jan.—Oct.
Oct.
moniums
5-935
55.7io
Belgium
1,217
153
Denmark
753
63
Great Britain
2 911
25.232
Italy
200
J.739
Holland .
53O
3.735
Norway
103
799
Austria-Hungary
104
I.3O5
Roumania
81
1,045
Russia
129
1,300
Sweden
47O
79
1,297
192
Switzerland
262
Spain
48
188
1.764
Lapland
69
606
British East India
1,116
Argentina
55
1.257
Brazil
36
Chili
56
974
Mexico
64
i,i35
British Australia
467
5.476
It will be observed that the German exports
of musical instruments to Great Britain are
larger than to any other country in the world,
amounting, indeed, to nearly half the total.
The enemies of free trade in luxuries will not be
slow to point to the fact that Great Britain is
the only country in the world which admits
foreign musical instruments duty free. Next to
Great Britain comes British Australia (though
last month there was a great falling off in the
Australian figures), followed by the Netherlands.
It is, however, conjectured that a good many of
the exports to the Netherlands were really in-
tended for transhipment, and must not be
credited to Holland at all. The exports to
Russia have dwindled down to a mere nothing,
mainly, of course, owing to the high protection
enforced in the kingdom of the Czar. With the
exception of certain expensive English, French
and American pianos, practically the whole ot
the musical instruments used in Russia are
manufactured in that country. It is perfectly
true that they are mostly made by German
manufacturers and German workmen, but, at
any rate, wages paid in Russia are spent in that
country. We may add that the German piano-
forte export trade shows a distinct falling off
during the ten months, the total figures being
55,710 for 1893 against 58,169 for 1892. It does
not appear that any instruments were sent to
France, although it is perfectly well known that
a considerable number of German-made instru-
ments are sold in France under French names.—
Music Trades Review, London.
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
to place payments as creditor on any demand he
might have against the debtor at the time of the
payment, would not abrogate the previous con-
tract touching the collaterals and their proceeds,
no express mention or reference thereto being
made in the subsequent agreement.
CORPORATION—STOCK—PURCHASE—FRAUD.
THE MUSIC TRADE REVIEW.
TRADE INQ£RMANY.
A POINTS OF SUPERIORITY
K
'
OF THE
Celebrated
"Conover"
Pianos.
The Kentucky Court of Appeals held, in the
recent case of The Paducah Land, Coal and Iron
Company vs. Hayes, that where the directors of
a corporation purchased land for the corporation
and issued stock in payment of the purchase
price, and immediately thereupon a part of the
stock thus issued was transferred to a trustee
for the benefit of directors, they must be regard-
ed as having made the purchase under a private
arrangement by which they were to get back for
their own personal benefit a part of the purchase IMPURITY AND SWEETNESS of TONE.
price paid out by the company ; that the stock ^-SCIENTIFIC CONSTRUCTION.
transferred to the trustee was issued in fraud of
(THE ONLY STRICTLY
the rights of stockholders, and should be can-
HUGH GRADE PIANO
MANUFACTURED
celed, and that although the appellee to whom a
BEAUTY.
IN CHICAGO)
block of that stock was transferred to induce
him to become president of the corporation was
not a party to the arrangement by which the
stock was issued, and was innocent of any
wrong in the procurement of the shares obtained
SOLE FACTORS.
by him, yet as he paid nothing for the shares
and they constituted no part of his salary, and
(The Largest Dealers in Pianos anil Organs in the World.)
he could, after he became president, have ascer-
tained by reasonable inquiry the true history of
WHOLESALE AND RETAIL WAREROOMS,
their issue, he should have surrendered them
when they were demanded of him, and failing
215 WABASH AVE.,
to do so he was liable for their value at the date (SECOND FLOOR.)
of the demand for their return. He was not
CHICAGO.
liable for the price at which he might have sold
them, however, according to the opinion of the
court, as his was not a wrongful conversion.
CHICAGO COTTAGE ORGAN COMPANY,
Mrs. Wickwire : "From the happy expression
you had when Mrs. Potts was singing one
might imagine that you enjoyed that sort of
thing. You don't break out into happy smiles
over my singing.''
Mr. Wickwire: " I wasn't smiling over her
singing. I was just thinking how lucky I was
that she belonged to Potts instead of myself."
A barrel-organ factory was destroyed by fire
not long ago. The police are looking for the in-
cendiary. It is supposed the people want to
present him with a valuable testimonial.
A youth who is learning to play the cornet
cannot understand why people who shoot at cats
will be so careless. Half-a-dozen stray bullets
have already come through his window.
"CROWN" PIANOS
AND ORGANS.
Ye have heard, ye have heard, of the great
renown
Of these organs and pianos so grand :
They are built to last and are called the
"Crown,"
The best ever made, the best in the land.
The touch is responsive, like something divine,
The tones are so full, so sweet and so clear :
Till wave after wave of music sublime
Floats into silence, and heaven is near.
In finish and style they excell others far :
Oh, beautiful gems, the pride of our land :
No changes of climate or seasons can mar,
While triumph of skill and ages, they stand.
Queen of all others, deserving the " Crown,"
All nations I ween have heard of thy fame,
Victorious forever, we yield thee the palm,
Fresh laurels we bring and twine with thy
name.
Enterprising dealers ail over the Country are
fast securing the agency for the wonderful
A.
B.
CHASE
PIANOS.
Wonderful in Tone Quality.
Wonderful in Selling Qualities,
Style, Finish, Strength,
Action, Durability and Popularity,
and
Improvement of Tone by Age and Use.
The Company Scrupulously protect their
agencies,
and
Never change when it can be avoided.
Hence the agency becomes more valuable
every year.
I f you can, you should secure it at once,
by writing to
THE A. B. CHASE CO.,
NORWALK, OHIO.
the general depression of trade, which
seems during the year now closing to have
afflicted almost every country in the world, Ger-
many has not escaped. During the first three
quarters of the present year, compared with the
analogous period in 1892, there was a decline in
German imports of all sorts of five and a half
millions of marks. It is true that the exports
have slightly increased in value, but the differ-
ence is said largely to have been made up of ex-
ports of gold. As with us, however, the imports
still very largely exceed the exports. In regard
to the musical instrument trade generally the
official figures are made up in the somewhat in-
convenient form of per 100 kilos. In America
the official figures give the exact number of in-
struments exported, while here, as we know, the
pecuniary value of the goods alone is dealt with.
The Germans, however, prefer the weight sys-
tem. During the first 10 months of the present
year it seems that the total export of pianos,
harmoniums, and reed organs was 55,710 hun-
dred kilos. The figures are not a little interest-
ing, and we therefore reprint them from the
pages of our esteemed contemporary, the Musik
Instmimenten Zeitung, as follows :
Pianinos, grands, har-
Jan.—Oct.
Oct.
moniums
5-935
55.7io
Belgium
1,217
153
Denmark
753
63
Great Britain
2 911
25.232
Italy
200
J.739
Holland .
53O
3.735
Norway
103
799
Austria-Hungary
104
I.3O5
Roumania
81
1,045
Russia
129
1,300
Sweden
47O
79
1,297
192
Switzerland
262
Spain
48
188
1.764
Lapland
69
606
British East India
1,116
Argentina
55
1.257
Brazil
36
Chili
56
974
Mexico
64
i,i35
British Australia
467
5.476
It will be observed that the German exports
of musical instruments to Great Britain are
larger than to any other country in the world,
amounting, indeed, to nearly half the total.
The enemies of free trade in luxuries will not be
slow to point to the fact that Great Britain is
the only country in the world which admits
foreign musical instruments duty free. Next to
Great Britain comes British Australia (though
last month there was a great falling off in the
Australian figures), followed by the Netherlands.
It is, however, conjectured that a good many of
the exports to the Netherlands were really in-
tended for transhipment, and must not be
credited to Holland at all. The exports to
Russia have dwindled down to a mere nothing,
mainly, of course, owing to the high protection
enforced in the kingdom of the Czar. With the
exception of certain expensive English, French
and American pianos, practically the whole ot
the musical instruments used in Russia are
manufactured in that country. It is perfectly
true that they are mostly made by German
manufacturers and German workmen, but, at
any rate, wages paid in Russia are spent in that
country. We may add that the German piano-
forte export trade shows a distinct falling off
during the ten months, the total figures being
55,710 for 1893 against 58,169 for 1892. It does
not appear that any instruments were sent to
France, although it is perfectly well known that
a considerable number of German-made instru-
ments are sold in France under French names.—
Music Trades Review, London.
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