Music Trade Review

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THE MUSIC TRADE REVIEW
Payments on Account.
THE DECISION RENDERED BY THE COURT OF
APPEALS NOT IN KEEPING WITH THAT OF
REFEREE WISE A POINT FOR THE
CONSIDERATION OF THE SU-
PREME COURT.
Much interest is being manifested in the
recent ruling in the U. S. Circuit Court
of Appeals for the ninth circuit in the
case of Forgy vs. Field, et al., that any
payment by a bankrupt within four months
before the institution of proceedings in
bankruptcy, even though made in due
course of business and where the creditor
receiving the payment had no reasonable
cause to believe that it was intended as a
preference, constituted a preference under
the bankruptcy act that would prevent the
allowance of the creditor's claim for the
balance of the account, for the reason that
the purpose of the parties in giving or re-
ceiving a preference was not intended to
be considered, but only the effect of the
preference and the benefit or advantage
which it would give to one creditor over an-
other; that a preference is a " transfer " by
the bankrupt of any of his property "where
the effect of the enforcement of such a
transfer will be to enable any one of his
creditors to obtain a greater percentage of
his debt that any other of such creditors
of the same class," and that a creditor is
not compelled to surrender a payment
made to him on account in the ordinary
course of business unless he had reason to
believe that his debtor was insolvent and
that the payment was a preference, and if
the creditor was innocent in the transac-
Painter & Ewing in Retail.
tion he has his option to retain the pay-
Painter & Ewing, the go-ahead piano
ment and waive his claim to the balance of
manufacturers of Philadelphia, who have
the account, or he may surrender the pay-
built up such an excellent business in the
ment and present his claim for the whole
wholesale trade, have arranged to imme-
account.
diately open up retail warerooms at 1022
Bankruptcy Referee Wise, of this city,
Market street. They will make a full dis-
recently rendered a decision which is dis-
play of their various styles which have
tinctly at variance with the foregoing rul-
won so much favor in the trade, and the
ing and in effect—that the receipt of a pay-
prospects are that these enterprising piano
ment on account within four months of the
men will make quite a record in the retail
failure of a firm is not necessarily to be re-
field before they enter upon the new year.
garded as a preference.
In the meantime they will continue to oc-
The position taken by Mr. Wise accords
cupy their factory quarters at 1105-7
with the interpretation of the statute made
Spring Garden street. Last week a hand-
by many lawyers and more especially
some Painter & Ewing piano was shipped
by E. C. Brandenberg, of the Department
to Santiago, the purchaser being a Cuban
of Justice, who, in a recent interview
family who were visiting the city.
said that throughout the discussion
of the bankruptcy question the term
The "Apollo" in New York.
preference was used to indicate an un-
The Melville Clark Piano Co. are every
fair advantage secured b) 7 a creditor,
day augmenting the roster of dealers
and that it certainly could not be held that
who have decided to handle the popu-
a payment innocently received by a credi-
lar "Apollo" Self-player. Jacob Bros.,
tor, on account of an indebtedness incurred
the well-known manufacturers and dealers
in the ordinary way of business, was an
of this city, will handle the Apollo in their
unfair advantage secured contrary to the
six stores in New York and Brooklyn.
spirit of the federal law.
This move was decided upon after a thor-
Those best competent to judge are of ough investigation of the Apollo. An-
the opinion that the ruling made by Ref- other representative piano man who will
eree Wise will be sustained by the Su- push the Apollo is G. H. Poppenberg, of
preme Court and that the recent decision Buffalo, N. Y. And there are others.
of the Circuit Court of Appeals will be
At the factory of the Anderson Piano
reversed. The outcome is of some mo-
Co., of Van Wert, O., a busy condition of
ment to the business community.
things prevails. The Anderson pianos on
The Mostelle music store in Temple, their merits are steadily finding a larger
Tex., has passed to the management of market and the prospects are for an un-
usually busy fall.
Horace Pace.
"The Real Thing"
to use the colloquial expression, may be found
in the piano world in the .* .• .• .' .• .•
JEWETT
It contains more than mere talking points
—has a value that sets piano dealers to t hink=
ing, and they don't stop thinking until they
have placed a sample order. Then they be-
come regular Jewett customers .* .• .* .*
JEWETT PIANO CO.
LEOHINSTER, MASS.