Music Trade Review

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THE MUSIC TRADE REVIEW
SPECIALTY TALKS.
QUESTIONS PROPOUNDED BY THE " REVIEW " UPON THE LIVE MATTERS OF THE DAY AND
ANSWERED BY LEADING MEN IN THE TRADE.
Interview XIV.—J. P. Byrne.
NDER the above head THE REVIEW numerous "systems" do you not daily
proposes to give weekly the expressed tabulate the "condition" of the thermome-
views of some members of the trade upon ter, and the number of letters received by
matters which are of live interest. It your house? Both of these "registers"
should be understood that the answers to should prove " food for reflection." Can
these inquiries will be published in every you give us a few statistics?
instance without editorial criticism. In
MR. BYRNE—Yes, we note in our cash
other words, every "specialty talk" will book daily the temperature and the weath-
fairly express the sentiment of the individ- er, mostly as aids to statistics, but we do
ual under whose name it appears, rather not always find them to entirely control
than the editorial belief of THE REVIEW. retail business, although they are found by
There will be no distortion; no boiling us to be large factors in its daily volume.
down. The answers will be published with- The number of letters received daily is a
out change or comment, and in every case sure criterion of the general business and
the individuality of the one whose opinions is carefully watched by us. This feature
are written will be preserved. We propose makes itself felt at once throughout the es-
in this way to build one of the most inter- tablishment, as every communication re-
esting features which a trade paper can offer
to its readers. This week Mr. Byrne, of
Lyon & Healy, favors us with a talk.
U
REVIEW—Mr. Byrne, your opportunities
as secretary of an old and extensive music
house give you a view of business condi-
tions that make your opinions somewhat
interesting to the commercial world.
Granted "that now is the winter of our
discontent," what are, in your opinion, the
main causes of the present general business
depression?
MR. BYRNE—The main cause, in my
opinion, was the desire of our American
speculators, railroad builders and promo-
ters for the previous ten years, to get rich
too fast and without entirely considering
the honesty of the means employed. Only
one result could ensue and the investing
classes who were "plucked" thereupon lost
confidence in every kind of securities, de-
manded their redemption in cash, the cir-
culating medium was thereby reduced, fur-
ther investment ceased, and the panic
followed. I place this cause before all
others. Over-production in manufactured
products and the competition of Russian,
Egyptian, East Indian and South Ameri-
can agriculturists with our own farmers,
in European markets, were additional
causes.
REVIEW—We believe, Mr. Byrne, that in
forming your opinion of the trade outlook
generally, you place considerable value on
the existing condition of the iron and wheat
markets. Have you invariably found this
method to be a reliable one?
MR. BYRNE—Yes, I have done so for a
few years past and have, in a negative way,
found it true; i. e., ever since I commenced
noting the markets, prices have been ex-
tremely low, and the music business never
so bad. I think this should be absolutely
prima facie, conclusive evidence. Is not
this moderately good logic?
REVIEW—Probably few men in the trade
adopt more "method" in the exercise of
their duties than yourself. Among your
j . p. BYRNE.
ceived calls for a reply of some nature,
either a shipment and bill, a letter or a cat-
alogue, etc. Of course, our heaviest mail
is received in the winter and early spring
mouths. On Christmas Eve and the eve
of July 4th, our receipt of telegrams is
greatest. We have received as many as
sixty telegrams on December 24th for
musical gifts from procrastinating pur-
chasers. Our mail shows a marked increase
each year, noth withstanding the hard times.
REVIEW—What, to-day, do you consider
the most potent question for discussion
relative to the advancement of music trade
interests?
MR. BYRNE—This is a hard question
to answer, but I believe that it is the re-
duction of the number of manufacturers
and proprietors.
REVIEW—Have you any observations to
make on the present bicycle craze, as affect-
ing the music trade industry?
MR. BYRNE—The so-called "bicycle
craze" does injuriously affect the music
trade, in my opinion, as it diverts so many
millions of dollars into a new channel and
withdraws it from many old ones—among
others the music stores and music teachers.
Bicycle riders are tempted to spend so much
more time out of doors, and the musical
ii
ones, consequently, neglect their music.
But the "craze" has come to stay, I believe,
and music dealers and teachers must take
this fact into consideration.
REVIEW—Is the general fiscal policy of
the music trade, more especially with re-
gard to the piano business (both wholesale
and retail) of the best?
MR. BYRNE — Speaking in a broad sense,
I say No. It is, I think, far better for a
piano manufacturer to shut down a part of
his factory than to start branch houses at
long range, or back consignment houses of
small capital for the sake of providing an
outlet for his instruments. Trouble always
follows over-production. The same rule
applies to the retailer who sells on too
long time, and for too little cash down.
REVIEW—What are the principal lessons
to be derived from the recent music trade
failures?
MR. BYRNE—I think my last remarks will
cover this question.
REVIEW—The temptation to "sound" you
on the political outlook is a strong one, Mr.
Byrne; has the sixteen to one candidate a
really firm foothold out West, or is it
ephemeral? Do you not think in case of
Mr. McKinley's election that we shall
speedily enjoy a return to prosperous
days?
MR. BYRNE—Like your New York fellow
citizen, " I am a Democrat," buL unlike
him, I am not an enigma in the present
campaign, as I am emphatically for the
gold candidates, Palmer and Buckner. Mr.
Bryan's surest foothold is, of course, west
of the Missouri and south of the Ohio, but
he will not carry all of those States. Even
though he did, he would not have sufficient
electoral votes to secure the presidency.
Gen. Palmer's candidacy will cut a large
figure in the final result. If Mr. McKin-
ley and his party will not disturb the coun-
try by another revision of the tariff,should
they win, I think we will, during his term
of office, see a slow but sure return of pros-
perity. I firmly believe that a falsely high
value can be legislated into goods, wares
and merchandise as can be legislated into
silver, and when this happens natural con-
ditions and true valuation will drag them
down to where they belong, causing an-
other panic.
REVIEW—What department of the music
trade business, Mr. Byrne, do you con-
sider affords special "possibilities" to the
aspirant worker?
MR. BYRNE—Piano manufacturing, after
unhealthy and too great competition have
disappeared.
REVIEW—Your long experience in a large
music house must have given you excep-
tional opportunities for gauging the merits
of employees. If you could crystalize into
one short sentence advice to young men
who are anxious to "get on," what phrase-
ology would you feel tempted to use?
MR. BYRNE—Unfortunately, not being a
phrase-maker, I can not do this without
undergoing too much mental wrack. Hon-
esty, application, ambition, watchfulness
of opportunities, self-esteem, and last, but
not least, self-denial, I consider essentials.