Music Trade Review
Issue: 1900 Vol. 31 N. 21 - Page 5
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THE MUSIC TRADE REVIEW
Take it all in all, the outlook is most
encouraging for the future of the Ameri-
can piano manufacturer and dealer.
PERSONALITY.
OPEAKING of personality, how domi-
nant is that mystic force in all busi-
ness concerns. The personality of a man
in business frequently becomes greater
than the enterprise itself, as in the case
of W. L. Strong & Co., a concern with the
best of credit to a very high degree, but
being wholly dependent upon the energy
and ability of one man whose personality
was behind it. When he died the business
went to pieces.
Thus we see the personality of a man not
only dominating business but the business
actually succumbing immediately upon his
demise. If it be admitted that personality
counts in almost every enterprise, and if
that personality be of a kind possessing
character and honesty, success is assured.
Banks are desirous of encouraging well-
meaning and honest men, and they scan
closely the personality of the men who
head the various enterprises which come to
them for credit.
Personality is an important factor in any
enterprise.
UNRELIABLE REPORTS.
'"THE necessity for special or class ratings
becomes more and more necessary as
time rolls on. The great mercantile agen-
cies of the day fail utterly to give correct
ratings of individuals or firms engaged in
the various industries.
Take the case of W. L. Strong & Co.
and Commodore Stott of Stottville. The
ratings of both of these concerns in the
best recognized commercial agencies were
from seven hundred and fifty thousand to
a million.
The unreliabilily of those ratings is
marked when it is said by the best author-
ity that the liabilities of the two concerns
will exceed their assets, and yet, if a
manufacturer were selling these concerns
and relied upon a mercantile report for
their condition he would be told by figures
given by the agencies that they were
worth over a million, when, as a matter of
fact, they were not worth a dollar.
Has it not been proven time and time
again that the ratings of mercantile agen-
cies in many many cases are utterly worth-
less because they are not based upon facts?
In our own industry there have been
within the past few years instances of
firms who have stood very high in the
mercantile agencies, going suddenly to
pieces; one in particular, and when the
crash came great surprise was manifested.
As a matter of fact, the receiver of one
has thus far been able to pay only about
ten cents on the dollar of the indebted-
ness of that concern.
When it is possible for firms who are
practically insolvent to gain the highest
kind of ratings, then are not the reports of
these great mercantile agencies a menace,
rather than a security to the business pros-
perity of the nation?
Is there not a crying need for the differ-
ent industries to organize and obtain their
own reports through their own associa-
tions ?
The National Piano Manufacturers' As-
sociation, to our minds, was working along
correct lines when it started the confi-
dential report scheme. It should be en-
couraged, because if properly developed it
will reduce the loss of manufacturers by
irresponsible dealers to a minimum. This
industry has outgrown the little petty feuds
and jealousies which existed a decade
ago, and is more and more conforming
to sharply-defined commercial principles
which were not in strong evidence
in the days agone. The dishonest or
irresponsible dealer should be driven out
of business, and many manufacturers
are led into giving extended credit to men
whose reports regarding their financial
condition were wholly misleading.
T H E wise wage-earner realizes that his
interests are closely interwoven with
those of his employer and that what ad-
versely affects the latter must also affect
him.
No piano manufacturer can give fair em-
ployment to labor unless he is doing a satis-
factory business himself. There may be
disagreements as to rates of wages and
hours of service, but the wage-earner has
unquestionably a better chance of getting
what he wants when employers are sur-
rounded by favorable trade conditions
than when they are harassed by complica-
tions crowding the business future with
uncertainty. The outlook for the Ameri-
can workman never was more promising.
I T appears that Chicago houses in various
lines of trade are interested in the es-
tablishment of an exposition for the display
of their stocks. A movement encompass-
ing this idea and also to afford greater
facility to buyers took tangible form this
week when the Chicago Trades Exposition
Company was incorporated at Springfield
with a capital of $10,000. Although this
enterprise has purely business reasons for
its inception it is said by the larger dealers
that it will result in a beneficial competi-
tion. It will enable customers to buy ju-
diciously and economically without the
need of covering so great a territory to
THE VENEER TRUST.
obtain comparative prices.
T H E R E is considerable doubt as to
The promoters of the new corporation
whether the alleged thirty million intend to hold, at regular intervals, expo-
veneer trust will materialize. Options, sitions of various trade products.
which will expire on Jan. i, have been
given on a number of important plants. T H A T matchless trade tonic—than which
there is no superior in the world—
There are some firms however, who are
seasonable
weather, has not been with us
holding out, and it is hardly believed in
the inner circle of veneerdom that the es- for the past week, and the enervating
tablishment of the trust will become a effects of the warm weather have had a de-
pressing effect upon retail trade. While
success.
some warerooms have maintained splendid
activity, yet as a matter of fact and of
FLOTSAM AND JETSAM.
piano truth, retail trade in New York, as
QINCE the closing of the now famous
far as the piano business is concerned, has
Blake case in Boston, the "fake house
been of a disappointing character during
sale" work as applied to pianos has been
the past week.
somewhat in its decadence.
Can any reader of The Review inform \ 1 7 I T H I N a brief period the "Vaude-
ville Extra" will undergo one of
us just where particularly fertile fields are
its
kaleidoscopic
changes. The piano in-
now being worked by the wily house or
private sale man? Blake's punishment dustry will stand for a good many things,
was severe, he paid the full penalty of be- but it demurs at being paraded under the
ing caught, and while others have been skirts of vaudeville, consequently another
carrying on practically the same work for lightning change will be necessary. In
years, they are scot free. Yet, as a mat- the meanwhile bombastic statements will
ter of fact, the measure of punishment be made and red lights will -continue to
which was meted out to Blake has had burn.
somewhat of a depressing effect upon the Y\ 7HEN a man becomes a victim of the
exploitation of the private sale business,
advertising habit he is usually en-
as it has been carried on in this country couraged in every possible way by enter-
for some years past.
prising newspaper men. It is the right
kind of a habit for a business man to have.
The mills have not ceased grinding,
THE MUSIC TRADE REVIEW
Take it all in all, the outlook is most
encouraging for the future of the Ameri-
can piano manufacturer and dealer.
PERSONALITY.
OPEAKING of personality, how domi-
nant is that mystic force in all busi-
ness concerns. The personality of a man
in business frequently becomes greater
than the enterprise itself, as in the case
of W. L. Strong & Co., a concern with the
best of credit to a very high degree, but
being wholly dependent upon the energy
and ability of one man whose personality
was behind it. When he died the business
went to pieces.
Thus we see the personality of a man not
only dominating business but the business
actually succumbing immediately upon his
demise. If it be admitted that personality
counts in almost every enterprise, and if
that personality be of a kind possessing
character and honesty, success is assured.
Banks are desirous of encouraging well-
meaning and honest men, and they scan
closely the personality of the men who
head the various enterprises which come to
them for credit.
Personality is an important factor in any
enterprise.
UNRELIABLE REPORTS.
'"THE necessity for special or class ratings
becomes more and more necessary as
time rolls on. The great mercantile agen-
cies of the day fail utterly to give correct
ratings of individuals or firms engaged in
the various industries.
Take the case of W. L. Strong & Co.
and Commodore Stott of Stottville. The
ratings of both of these concerns in the
best recognized commercial agencies were
from seven hundred and fifty thousand to
a million.
The unreliabilily of those ratings is
marked when it is said by the best author-
ity that the liabilities of the two concerns
will exceed their assets, and yet, if a
manufacturer were selling these concerns
and relied upon a mercantile report for
their condition he would be told by figures
given by the agencies that they were
worth over a million, when, as a matter of
fact, they were not worth a dollar.
Has it not been proven time and time
again that the ratings of mercantile agen-
cies in many many cases are utterly worth-
less because they are not based upon facts?
In our own industry there have been
within the past few years instances of
firms who have stood very high in the
mercantile agencies, going suddenly to
pieces; one in particular, and when the
crash came great surprise was manifested.
As a matter of fact, the receiver of one
has thus far been able to pay only about
ten cents on the dollar of the indebted-
ness of that concern.
When it is possible for firms who are
practically insolvent to gain the highest
kind of ratings, then are not the reports of
these great mercantile agencies a menace,
rather than a security to the business pros-
perity of the nation?
Is there not a crying need for the differ-
ent industries to organize and obtain their
own reports through their own associa-
tions ?
The National Piano Manufacturers' As-
sociation, to our minds, was working along
correct lines when it started the confi-
dential report scheme. It should be en-
couraged, because if properly developed it
will reduce the loss of manufacturers by
irresponsible dealers to a minimum. This
industry has outgrown the little petty feuds
and jealousies which existed a decade
ago, and is more and more conforming
to sharply-defined commercial principles
which were not in strong evidence
in the days agone. The dishonest or
irresponsible dealer should be driven out
of business, and many manufacturers
are led into giving extended credit to men
whose reports regarding their financial
condition were wholly misleading.
T H E wise wage-earner realizes that his
interests are closely interwoven with
those of his employer and that what ad-
versely affects the latter must also affect
him.
No piano manufacturer can give fair em-
ployment to labor unless he is doing a satis-
factory business himself. There may be
disagreements as to rates of wages and
hours of service, but the wage-earner has
unquestionably a better chance of getting
what he wants when employers are sur-
rounded by favorable trade conditions
than when they are harassed by complica-
tions crowding the business future with
uncertainty. The outlook for the Ameri-
can workman never was more promising.
I T appears that Chicago houses in various
lines of trade are interested in the es-
tablishment of an exposition for the display
of their stocks. A movement encompass-
ing this idea and also to afford greater
facility to buyers took tangible form this
week when the Chicago Trades Exposition
Company was incorporated at Springfield
with a capital of $10,000. Although this
enterprise has purely business reasons for
its inception it is said by the larger dealers
that it will result in a beneficial competi-
tion. It will enable customers to buy ju-
diciously and economically without the
need of covering so great a territory to
THE VENEER TRUST.
obtain comparative prices.
T H E R E is considerable doubt as to
The promoters of the new corporation
whether the alleged thirty million intend to hold, at regular intervals, expo-
veneer trust will materialize. Options, sitions of various trade products.
which will expire on Jan. i, have been
given on a number of important plants. T H A T matchless trade tonic—than which
there is no superior in the world—
There are some firms however, who are
seasonable
weather, has not been with us
holding out, and it is hardly believed in
the inner circle of veneerdom that the es- for the past week, and the enervating
tablishment of the trust will become a effects of the warm weather have had a de-
pressing effect upon retail trade. While
success.
some warerooms have maintained splendid
activity, yet as a matter of fact and of
FLOTSAM AND JETSAM.
piano truth, retail trade in New York, as
QINCE the closing of the now famous
far as the piano business is concerned, has
Blake case in Boston, the "fake house
been of a disappointing character during
sale" work as applied to pianos has been
the past week.
somewhat in its decadence.
Can any reader of The Review inform \ 1 7 I T H I N a brief period the "Vaude-
ville Extra" will undergo one of
us just where particularly fertile fields are
its
kaleidoscopic
changes. The piano in-
now being worked by the wily house or
private sale man? Blake's punishment dustry will stand for a good many things,
was severe, he paid the full penalty of be- but it demurs at being paraded under the
ing caught, and while others have been skirts of vaudeville, consequently another
carrying on practically the same work for lightning change will be necessary. In
years, they are scot free. Yet, as a mat- the meanwhile bombastic statements will
ter of fact, the measure of punishment be made and red lights will -continue to
which was meted out to Blake has had burn.
somewhat of a depressing effect upon the Y\ 7HEN a man becomes a victim of the
exploitation of the private sale business,
advertising habit he is usually en-
as it has been carried on in this country couraged in every possible way by enter-
for some years past.
prising newspaper men. It is the right
kind of a habit for a business man to have.
The mills have not ceased grinding,
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