Music Trade Review

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THE MUSIC TRADE REVIEW
LYMAN
Editor and Proprietor.
PUBLISHED
EVERY
SATURDAY
3 East 14th St., New York
SUBSCRIPTION (including: postage) United States and
d $3-00 per year; Foreign Countries, $4.00.
ADVERTISEMENTS, $2.00 per inch, single column, per
•Mertion. On quarterly or yearly contracts a special dis«
•mint is allowed.
REMITTANCES, In other than currency form, should
fc* made payable to Edward Lyman BilL
Smitrtd mt tht If no Y*rk Pltst Offic* as Second-Class Mi
NEW YORK, JULY 24, 1897.
TELEPHONE NUMBER 1748. — EIGHTEENTH STREET.
THE KEYNOTE.
The first week of each month, The Review
wHl contain a supplement embodying the liter-
ary and musical features which have heretofore
appeared in The Keynote. This amalgamation
will be effected without in any way trespassing
on our regular news service. The Review will
continue to remain, as before, essentially atrade
paper.
THE TRADE DIRECTORY.
The Trade Directory, which is a feature of
The Review each month, is complete. In it ap-
pear the names and addresses of all firms en-
gaged in the manufacture of musical instruments
and the allied trades. The Review is sent to
the United 5tates Consulates throughout the
world, and is on file in the reading rooms of the
principal hotels in America.
CREDIT SYSTEM REFORM.
N Mr. Sohmer's interview elsewhere he
makes quite clear the fact that he consid-
ers the system of credits now existing in the
trade open to marked improvement. He
says "it (the credit system) needs careful
re-adjustment upon a more safe and pru-
dent basis. Such reform, if wisely carried
out, would be highly beneficial to all par-
ties."
Every manufacturer will agree with Mr.
Sohmer in this conclusion. The credit
system is unquestionably one of the "live"
problems of the day which needs reform.
During the past quarter of a century,
steady progress has been made in all
branches of manufacture, transportation
and sales, but the credit system exists to-
day as in the past, crude and inadequate,
and entirely unfitted to our present methods
of business.
The prevailing system affords the incom-
petent or dishonest dealers a splendid oppor-
tunity to "use" the manufacturers just at
their convenience. It is well known that
for the past few years it has been the prac-
tice among some of the smaller dealers,
and indeed'some of the larger ones, to ask
for and secure renewals from the houses
they represented, and then use the cash
which should have gone to pay such notes,
I
to buy pianos of a cheaper grade, which
afforded them a greater margin of profit.
In this way the manufacturer was actually
forced to act as banker for the unscrupul-
ous dealer.
The evils of the credit system are gener-
ally admitted. So much so that manufac-
turers with whom The Review has talked
on the subject never fail to propound a
panacea. Individual action, however, can
never secure results that will be conducive to
the best interests of the trade in this matter.
In union there is strength, and reforms
of a definite or stable character will be im-
possible unless action is taken through a
representative organization.
It won't do to postpone action, now that
better times are in view, on the basis that
many failures are attributable to the hard
times—that dealers were unable to meet
their obligations, and all that; for it is a re-
markable fact that failures are not entirely
confined to periods of depression.
The authorities report that there is only
a slight difference in failures between pe-
riods of depression and the greatest prosper-
ity. When a dealer practically unknown is
enabled to secure credit valued at ten
times as much as his capital—and this is a
low estimate—it is clear that it is a good
speculation for unscrupulous men to enter
into business. It seems almost as easy a
way of making money as picking up gold
in the Klondike mines. Good times or bad
times do not concern men who go into
business with a dishonest motive, and it
should be the aim of manufacturers to rid
the trade of such individuals and prevent
these evils being possible.
The abuse is becoming more flagrant
year after year, and an understanding
should exist in this matter of credit giving
between the leading, if not all the manu-
facturers, if reform is desired.
As the matter stands to-day manufactur-
ers, in absence of collective action, are
prone to give credit to unknown men on
the basis that ''if we don't do^it somebody
else will." This is the cornerstone of the
evil. The remedy is united action.
#
#
In another column will be found an
account of "Where the Piano M en Rusti-
cate" during the hot season. These items
will be continued from time to time until
the season ends. It was ascertained dur-
ing the week that a large percentage of
firm members and responsible representa-
tives in New York city have adopted the
plan of taking their vacation by degrees,
extending its length indefinitely by resid-
ing at some mountain or sea-side resort
within easy traveling distance of the city.
Such a method has many advantages. One
is the possibility of attending strictly to-
business and yet enjoying from two to three
days of each week away from the "whirl of
the town."
#
#
If expectations at time of writing are
realized, the new tariff bill will have become
a law ere The Review reaches its readers.
The duty of 45 per cent, placed on * * musi-
cal instruments and parts thereof" by the
Senate has not been altered by the con-
ferees of both^houses, and as a matter of
course this duty will become the law of the
land. Chairman Dingley of the Ways and
Means Committee and author of the tariff
bill, when asked on Thursday for informa-
tion as to what was expected of the new
bill, said:
"The tariff bill in due course of time will
furnish adequate revenues to carry on the
Government and will materially aid in re-
viving the industries and business of the
country.
"The business condition of the country is
much better now than prior to the calling
of the session. There is greater confidence
in the future. There is great relief and
satisfaction at the settlement of the tariff
question, which enables business men to go
forward with full knowledge of the basis on
which business is to be conducted. The
fact that sufficient revenue has been pro-
vided to carry on the Government, after the
effect of anticipatory importations has dis-
appeared, is of itself a source of increased
confidence, and the further fact that in the
revision of the tariff duties have been ad-
justed so as to encourage industries in this
country instead of abroad affords sufficient
ground for substantial business improve-
ment."
+
h
In another part of this issue we present
an exceedingly interesting interview with
that distinguished member of the trade,
Hugo Sohmer of Sohmer & Co. A variety
of important subjects are touched upon
and an intelligent analysis made of present
conditions and future prospects in the
trade, each and all of which are of moment
to members of the music trade industry
throughout the land. Mr. Sohmer ex-
presses his ideas forcefully and un-
equivocally and we venture to say that his
"talk" will be read with interest and profit.
•f
1--
What shall we say of business prospects?
Well, here we are in the middle of summer,
and a gratifying degree of activity prevails
at the majority of the factories in this city
and Eastern States. Of course the orders
coming in are not large, but the main thing
to chronicle is that they are coming in;
furthermore the general commercial and
agricultural conditions, according to the: