Music Trade Review
Issue: 1899 Vol. 28 N. 3 - Page 5
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THE MUSIC TRADE REVIEW
The acts of Mr. C. H. W. Foster are not
congealed by conventionalities.
He makes
premature, but it entirely lacks confirma-
tion.
The present arrangement between
Last
week we had an opportunity of
chatting with two former acquaintances,
this departure, believing, unquestionably,
the Chickering corporation and John Wan-
who have been successful in forming two
that it will result in an increased output of
amaker
trusts.
temporary.
As
a
natural
They are lawyers and they re-
If it proves success-
sequence, however, if both parties are satis-
marked to us that their commission in the
then undoubtedly others will follow
fied with the results accruing from their
deals would amount to enough to give
present arrangement, it would no doubt
them magnificent
become permanent, and the possibility for
that while some of the individual owners
an enlargement of territory would of course
of certain plants asked an extravagant fig-
be attendant upon what success is achieved
ure, yet it was their policy to pay it. That
by the existing understanding.
such a course simply means printing a few
Chickering pianos.
ful,
is
his lead.
IV A ANY ask, in the event of the success of
John Wanamaker in handling pianos,
to the extent that the Wanamaker piano
store, becomes a prominent adjunct to his
business, what effect will it have upon the
piano dealers over America ? Will it cause
other leading manufacturers to seek the
department stores as avenues of outlet for
their instruments ?
That, too, is a question that cannot be
answered at once.
We must await de-
velopments, and we prefer not to express
an opinion at the present time.
The Wanamaker case is a peculiar one.
For reliability no merchant stands higher
in America.
fortunes.
They
said
It may be that the piano business may
more certificates, while they, the promot-
not be prolific in results so that the great
ers, receive their commission in cold cash.
Philadelphia and New York merchant may
The difficulty of earning dividends upon
conclude that the space in his vast estab-
this enormously expanded capitalization is
lishments can be better utilized for the dis-
a source of inherent weakness.
play and sale of other wares.
And tbms
If we could
a trust has within it at its very inception
only part the veil which hides us from the
an element which is destined to cause its
uncertain future, we would probably all
dissolution.
accomplish greater results, and it is that
by the skill of its management to keep it
future which holds the secret of success or
afloat for further speculation.
Its career can be measured
failure of the Chickering-Wanamaker ar-
T A K E the case of the American Steel &
rangement.
Clean business methods, too,
Wire Co., who now propose to incor-
are interwoven with all his transactions.
porate a company of $90,000,000 to acquire
His wares are not what we colloquially
term "cheap goods," therefore in this one
particular
Wanamaker
differs
from
all
other department store merchants.
Can Boston show a merchant of
the Wanamaker type ?
Is there another
in New York, or Philadelphia, or Chicago.
The music dealers do not want to lose
their heads in this matter, and we would
counsel those who are indulging in lurid
pyrotechnics
to await
further
develop-
ments.
Evo-
lution, and some may say, revolution,
is just now working wonders in the indus-
trial and capitalistic world.
Let us glance hastily at the different
cities.
THE NEW " INDUSTRIALS,"
T^HIS is a history creating period.
The forma-
Washburn & Moen at first asked a price
which the promoters refused to pay.
They
Far
now find that in order to succeed they
from abating, the movement which is re-
must absorb all competing plants; hence
sulting in the combination of industrial
they wish to increase their stock a few
and commercial affairs continues with \\\\-
millions—it
abated activity—thus the rapidly changing
absorb all these industries. This stock is
tion of vast trusts goes steadily on.
events of welding small competing groups
of capital into vast non-competing aggre-
matters not how many—to
now being advertised, and the promoters
hope that the people will quickly purchase
the entire line of certificates.
gations.
It seems that the trading world is filled
D E S T assured whatever is the outcome
the Washburn & Moen and other compet-
ing wire-making plants.
with associations which are steadily regu-
of the Chickering-Wanamaker deal,
lating
the Chickering piano will continue to be a
goods.
the prices of
great factor in the piano industry.
tions in everything.
all
manufactured
This is the age of gigantic opera-
Is it not a
fact that the declared
intention of the
men
trust to
behind
the wire
absorb
more is an open admission of their present
weakness?
About the only im-
We are seeing expansion with a venge-
advertising which the Chickering instru-
portant industry in which genuine com-
ance in these great combinations, and to-
ments will have received from the date of
petition still exists is that of the piano
day the leading bankers of the country
our last issue to the close of the year, in
manufacturing, and the efforts to combine
connection with this matter will be simply
this trade into a trust have thus far proved
beyond calculation in
futile.
cents.
cold
The
dollars and
in the Chickering
Thus the
moters and men who sell these stocks on
commission, will continue to become large
All of the talk and agitation will
stimulate an interest
are listing these ''industrials."
investing public, it is hoped by the pro-
\ \ 7HILE the figures which represent the
purchasers of the new "industrials."
trust deals of 1898 reach an enor-
This new condition involves dangers to
mous capitalization, it should be under-
the general financial situation, and there
complete metamorphosis, so that to-day
stood that a large amount of those figures
is already a development 011 the
one lmndred pianos a week can be shipped
represent merely the quantity of
paper
large financial interests to discourage the
from the Chickering factory without extra
certificates in the form of shares which
growing tendency of the market to devote
exertion.
Then too, the Chickering pianos
these trusts have caused to be printed,
itself to the industrial stocks.
from the date of their first manufacture to
hoping to dispose of them to an investing
product
The factory at Boston has been
thoroughly systematized, has undergone a
part of
What else does this mean than that the
the present time have in no period excelled
public.
It is a fact in the organization of
solid financial element of America consider
those of 1899.
most of these trusts that from three to four
that these colossal aggregations of stock,
TT has been rumored that the Philadelphia
arrangement would be followed by a
deal whereby the New York business would
dollars more in shares have been allotted
the value of which only consists of paper,
for every dollar of actual property em-
will some day go up like the South Sea
braced in the combination.
Bubble scheme?
And how that
vast watered stock is going to pay is a
be controlled in the near future by Wana-
problem which the best financial
maker.
in the country are vinable to solve,
This announcement is not only
experts
Of the twenty-one great industries which
have been incorporated in New Jersey and
launched in Wall street since May last less
THE MUSIC TRADE REVIEW
The acts of Mr. C. H. W. Foster are not
congealed by conventionalities.
He makes
premature, but it entirely lacks confirma-
tion.
The present arrangement between
Last
week we had an opportunity of
chatting with two former acquaintances,
this departure, believing, unquestionably,
the Chickering corporation and John Wan-
who have been successful in forming two
that it will result in an increased output of
amaker
trusts.
temporary.
As
a
natural
They are lawyers and they re-
If it proves success-
sequence, however, if both parties are satis-
marked to us that their commission in the
then undoubtedly others will follow
fied with the results accruing from their
deals would amount to enough to give
present arrangement, it would no doubt
them magnificent
become permanent, and the possibility for
that while some of the individual owners
an enlargement of territory would of course
of certain plants asked an extravagant fig-
be attendant upon what success is achieved
ure, yet it was their policy to pay it. That
by the existing understanding.
such a course simply means printing a few
Chickering pianos.
ful,
is
his lead.
IV A ANY ask, in the event of the success of
John Wanamaker in handling pianos,
to the extent that the Wanamaker piano
store, becomes a prominent adjunct to his
business, what effect will it have upon the
piano dealers over America ? Will it cause
other leading manufacturers to seek the
department stores as avenues of outlet for
their instruments ?
That, too, is a question that cannot be
answered at once.
We must await de-
velopments, and we prefer not to express
an opinion at the present time.
The Wanamaker case is a peculiar one.
For reliability no merchant stands higher
in America.
fortunes.
They
said
It may be that the piano business may
more certificates, while they, the promot-
not be prolific in results so that the great
ers, receive their commission in cold cash.
Philadelphia and New York merchant may
The difficulty of earning dividends upon
conclude that the space in his vast estab-
this enormously expanded capitalization is
lishments can be better utilized for the dis-
a source of inherent weakness.
play and sale of other wares.
And tbms
If we could
a trust has within it at its very inception
only part the veil which hides us from the
an element which is destined to cause its
uncertain future, we would probably all
dissolution.
accomplish greater results, and it is that
by the skill of its management to keep it
future which holds the secret of success or
afloat for further speculation.
Its career can be measured
failure of the Chickering-Wanamaker ar-
T A K E the case of the American Steel &
rangement.
Clean business methods, too,
Wire Co., who now propose to incor-
are interwoven with all his transactions.
porate a company of $90,000,000 to acquire
His wares are not what we colloquially
term "cheap goods," therefore in this one
particular
Wanamaker
differs
from
all
other department store merchants.
Can Boston show a merchant of
the Wanamaker type ?
Is there another
in New York, or Philadelphia, or Chicago.
The music dealers do not want to lose
their heads in this matter, and we would
counsel those who are indulging in lurid
pyrotechnics
to await
further
develop-
ments.
Evo-
lution, and some may say, revolution,
is just now working wonders in the indus-
trial and capitalistic world.
Let us glance hastily at the different
cities.
THE NEW " INDUSTRIALS,"
T^HIS is a history creating period.
The forma-
Washburn & Moen at first asked a price
which the promoters refused to pay.
They
Far
now find that in order to succeed they
from abating, the movement which is re-
must absorb all competing plants; hence
sulting in the combination of industrial
they wish to increase their stock a few
and commercial affairs continues with \\\\-
millions—it
abated activity—thus the rapidly changing
absorb all these industries. This stock is
tion of vast trusts goes steadily on.
events of welding small competing groups
of capital into vast non-competing aggre-
matters not how many—to
now being advertised, and the promoters
hope that the people will quickly purchase
the entire line of certificates.
gations.
It seems that the trading world is filled
D E S T assured whatever is the outcome
the Washburn & Moen and other compet-
ing wire-making plants.
with associations which are steadily regu-
of the Chickering-Wanamaker deal,
lating
the Chickering piano will continue to be a
goods.
the prices of
great factor in the piano industry.
tions in everything.
all
manufactured
This is the age of gigantic opera-
Is it not a
fact that the declared
intention of the
men
trust to
behind
the wire
absorb
more is an open admission of their present
weakness?
About the only im-
We are seeing expansion with a venge-
advertising which the Chickering instru-
portant industry in which genuine com-
ance in these great combinations, and to-
ments will have received from the date of
petition still exists is that of the piano
day the leading bankers of the country
our last issue to the close of the year, in
manufacturing, and the efforts to combine
connection with this matter will be simply
this trade into a trust have thus far proved
beyond calculation in
futile.
cents.
cold
The
dollars and
in the Chickering
Thus the
moters and men who sell these stocks on
commission, will continue to become large
All of the talk and agitation will
stimulate an interest
are listing these ''industrials."
investing public, it is hoped by the pro-
\ \ 7HILE the figures which represent the
purchasers of the new "industrials."
trust deals of 1898 reach an enor-
This new condition involves dangers to
mous capitalization, it should be under-
the general financial situation, and there
complete metamorphosis, so that to-day
stood that a large amount of those figures
is already a development 011 the
one lmndred pianos a week can be shipped
represent merely the quantity of
paper
large financial interests to discourage the
from the Chickering factory without extra
certificates in the form of shares which
growing tendency of the market to devote
exertion.
Then too, the Chickering pianos
these trusts have caused to be printed,
itself to the industrial stocks.
from the date of their first manufacture to
hoping to dispose of them to an investing
product
The factory at Boston has been
thoroughly systematized, has undergone a
part of
What else does this mean than that the
the present time have in no period excelled
public.
It is a fact in the organization of
solid financial element of America consider
those of 1899.
most of these trusts that from three to four
that these colossal aggregations of stock,
TT has been rumored that the Philadelphia
arrangement would be followed by a
deal whereby the New York business would
dollars more in shares have been allotted
the value of which only consists of paper,
for every dollar of actual property em-
will some day go up like the South Sea
braced in the combination.
Bubble scheme?
And how that
vast watered stock is going to pay is a
be controlled in the near future by Wana-
problem which the best financial
maker.
in the country are vinable to solve,
This announcement is not only
experts
Of the twenty-one great industries which
have been incorporated in New Jersey and
launched in Wall street since May last less
Future scanning projects are planned by the International Arcade Museum Library (IAML).