Music Trade Review
Issue: 1901 Vol. 33 N. 1 - Page 12
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THE MUSIC TRADE REVIEW
TWENTY-SECOND
YEAR.
RMEW
EDWARD LYMAN BILL,
EBITOR AND PROPRIETOR.
J . B. S P I L L A N E , MANAGING EDITOR.
Executive Staff:
THOS. CAMPBELL-COPELAND
WALDO E. LADD
GEO.
W. QUERIPEL
A. J. NIGKLIN
ETery Saturday tt 3 East 14th Street, New Yorfc
SUBSCRIPTION (including postage), United States, Mexico
and Canada, $2.00 per year; all other countries, $4.00.
ADVERTISEnENTS, $2.00 per inch, single column, per
Insertion. On quarterly or yearly contracts a special discount
is allowed. Advertising Pages $:o.oo, opposite reading matter,
$75.00.
REniTTANCES, in other than currency form, should be
made payable to Edward Lyman Bill.
Entered at the New York Post Office as Second Class Matter
NEW YORK, JULY 6, 1901.
TELEPHONE NUMBER, 1745-EIQHTEENTH STREET.
THE
ARTISTS'
DEPARTMENT
On the first Saturday of each
month The Review contains in its
" Artists' Department" all the cur-
rent musical news. This is effected
without in any way trespassing on the size or ser-
vice of the trade section of the paper. It has a
special circulation, and therefore augments mater-
ially the value of The Review to advertisers.
DIRECTORY OF
The directory of piano manu-
u f « ° r . / . T , nc-o. facturing firms and corporations
MANUFACTURERS w h i c h w i U a p p e a r n e x t Week will
be of great value as a reference for dealers and
others.
EDITORIAL J2?
PIANO TRUST MATTERS.
DERHAPS there is
Promoter has talked
himself into publicity
—A cash forfeit to be
demanded—The atti-
tude of the trade press
—Vulnerable spots in
the trust.
no more dominat-
ing topic of trade dis-
cussion to-day than the
one relating to the pro-
posed piano trust. If the promoter's sole
object was to make himself talked about in
connection with a gigantic scheme, he has
been successful to an eminent degree; but,
whether he has approached any nearer the
possibilities of success in the satisfactory cul-
mination of his pet plans is doubted by the
greatest minds of the industry.
All trust promoters thrive on sensational-
ism, and, they continually serve that por-
tion of the trade, whom they hope to win,
with the most seductive tales regarding the
superb benefits to be gained through trust
associations. They also disseminate (?)
statements that some of the most influential
men of the industry have joined, when they
have not seriously considered the trust.
On the other hand, in order to keep an-
tagonistic elements in a neutral position, the
piano trust promoter also circulates the calm-
ing information that the proposed trust will
not be absorptive in any respect; that the
men will be retained in every department,
and that its sole object "is to make money
for those who are interested."
In the latter statement he omits to say
"money for the promoter," for the promoter
has no interest whatever in the future money-
making power of the concerns which he has
succeeded in amalgamating.
It is folly to suppose for one instant that
the operations of a piano trust would be
different from that of others. It was only
last week when a gentleman related in the
office of The Review the experience of a
nephew of his who was in a combination
which had been absorbed by one of the suc-
cessful greater trusts of the day. Without
the slightest warning, every employee was
thrown out and the place closed down un-
ceremoniously. With a piano trust in work-
ing order, past pledges would be unheeded,
out would go by the hundreds manufac-
turers, dealers, travelers and salesmen.
The whole success of a trust rests wholly
upon its ability to destroy competition, to
absorb, and at the same time to reduce its
expenses in every possible way, by closing
factories, by cutting off men wherever it can.
That is plain common sense, and we expect
the same of every business institution; but
a successfu) trust being an aggregation of
many organizations, possesses in itself a de-
structive strength which is incalculable.
If any member of the industry is in favor
of the trust and desires to give an option
on his business, that is his affair; but, as
far as this newspaper institution is con-
cerned it looks upon the source of the piano
trust with suspicion and mistrust, conse-
quently as a friend of the industry, it advo-
cates the most minute examination into any
proposition made, and the demanding of a
cash forfeit when an option on a business is
desired.
This course is followed in mining deals
and many others, and if Steinway & Sons
placed a seven million valuation upon their
business, granted an option on same for a
period of sixty days and demanding at the
same time an amount of cash equivalent to
ten per cent, of the purchase placed in a
bank, to become forfeited and subject to
their order, if the deal failed to go through,
why, it is more than probable that we should
hear less and less of the piano trust rumors,
until they dwindled into mere nothingness.
Why not quickly clarify the inky and
mysterious atmosphere in which the trust
promoter desires to secrete himself, by in-
sisting upon a forfeiture of a certain amount
of cash when an option is desired, provided
the deal does not go through ? It is rumored
that the promoter succumbed when one man
whom he approached asked him to put up
or keep quiet. He departed in silence—some-
thing unusual for him.
Everyone, presumably, has a price for his
business; but he should not be asked to give
up certain business secrets, devote hours of
his valuable time to parleying with the pro-
moter, without receiving some recompense.
A cash forfeiture is quite the thing. Like
the cuttlefish when evading his adversary,
the promoter immediately throws out an
inky blackness which disguises all conditions
around the trust scheme, and at the same time
he is using without authority some of the
distinguished names of the industry.
We have never been believers in the suc-
cess of schemes carried along the lines of
bluff, and we do not believe in the ultimate
success of the piano trust idea in the hands
of its present manipulator.
If the demand for a formation of a piano
trust came from the men whose interests
are directly involved, it would be an affair
in which the outsider would have compar-
atively little interest beyond a criticism, but
when the desire for a trust formation is
centered wholly in a gang of speculators who
seek to enmesh the industry, why then it is
quite time that every interested individual
took a positive stand. In this connection it
is interesting to note that in the entire trade
press of the country we have only been able
to locate two papers which have taken an
unequivocal stand regarding the trust mat-
ter. All the others are fencing or hedging.
They are to-day for the trust, to-morrow
against it. In other words, a weather-vane
policy, which shows that they could not be
relied upon in any emergency. The industry
should carefully note the attitude of the trade
press toward the trust.
Even if a combination which included a
part of the industry were effected, could it
be successful? Would not it contain within
itself the seeds of destruction which would
rapidly germinate when brought under the
powerful opposition rays?
A piano trust possesses too many vulner-
able points, in our opinion, to ever make it
a success. Combinations are possible, but
they will come of those on the inside, rather
than through the agency of scheming pro-
moters. Combinations have been steadily
going on within this industry for years, and
they will so continue.
INCORPORATE LABOR UNIONS.
"THE events of the
Will labor troubles
affect the piano in-
dustry in the fall?—
The o r g a n i z a t i o n
growing— Labor uni-
ons should incorporate
—Something tangible
then.
past week show
that labor troubles are
not among the remote
possibilities for the pi-
ano manufacturers during the coming fall.
Dold has been active in all parts of the union
where there are piano workers, and has
succeeded in perfecting his organization to
a remarkable degree, all reports to the con-
trary notwithstanding.
He has under his control to-day an active
organization with constantly augmenting
membership, and the past history of this
man does not warrant in adhering to the
belief that the power under his control will
not be exercised.
u
THE MUSIC TRADE REVIEW
TWENTY-SECOND
YEAR.
RMEW
EDWARD LYMAN BILL,
EBITOR AND PROPRIETOR.
J . B. S P I L L A N E , MANAGING EDITOR.
Executive Staff:
THOS. CAMPBELL-COPELAND
WALDO E. LADD
GEO.
W. QUERIPEL
A. J. NIGKLIN
ETery Saturday tt 3 East 14th Street, New Yorfc
SUBSCRIPTION (including postage), United States, Mexico
and Canada, $2.00 per year; all other countries, $4.00.
ADVERTISEnENTS, $2.00 per inch, single column, per
Insertion. On quarterly or yearly contracts a special discount
is allowed. Advertising Pages $:o.oo, opposite reading matter,
$75.00.
REniTTANCES, in other than currency form, should be
made payable to Edward Lyman Bill.
Entered at the New York Post Office as Second Class Matter
NEW YORK, JULY 6, 1901.
TELEPHONE NUMBER, 1745-EIQHTEENTH STREET.
THE
ARTISTS'
DEPARTMENT
On the first Saturday of each
month The Review contains in its
" Artists' Department" all the cur-
rent musical news. This is effected
without in any way trespassing on the size or ser-
vice of the trade section of the paper. It has a
special circulation, and therefore augments mater-
ially the value of The Review to advertisers.
DIRECTORY OF
The directory of piano manu-
u f « ° r . / . T , nc-o. facturing firms and corporations
MANUFACTURERS w h i c h w i U a p p e a r n e x t Week will
be of great value as a reference for dealers and
others.
EDITORIAL J2?
PIANO TRUST MATTERS.
DERHAPS there is
Promoter has talked
himself into publicity
—A cash forfeit to be
demanded—The atti-
tude of the trade press
—Vulnerable spots in
the trust.
no more dominat-
ing topic of trade dis-
cussion to-day than the
one relating to the pro-
posed piano trust. If the promoter's sole
object was to make himself talked about in
connection with a gigantic scheme, he has
been successful to an eminent degree; but,
whether he has approached any nearer the
possibilities of success in the satisfactory cul-
mination of his pet plans is doubted by the
greatest minds of the industry.
All trust promoters thrive on sensational-
ism, and, they continually serve that por-
tion of the trade, whom they hope to win,
with the most seductive tales regarding the
superb benefits to be gained through trust
associations. They also disseminate (?)
statements that some of the most influential
men of the industry have joined, when they
have not seriously considered the trust.
On the other hand, in order to keep an-
tagonistic elements in a neutral position, the
piano trust promoter also circulates the calm-
ing information that the proposed trust will
not be absorptive in any respect; that the
men will be retained in every department,
and that its sole object "is to make money
for those who are interested."
In the latter statement he omits to say
"money for the promoter," for the promoter
has no interest whatever in the future money-
making power of the concerns which he has
succeeded in amalgamating.
It is folly to suppose for one instant that
the operations of a piano trust would be
different from that of others. It was only
last week when a gentleman related in the
office of The Review the experience of a
nephew of his who was in a combination
which had been absorbed by one of the suc-
cessful greater trusts of the day. Without
the slightest warning, every employee was
thrown out and the place closed down un-
ceremoniously. With a piano trust in work-
ing order, past pledges would be unheeded,
out would go by the hundreds manufac-
turers, dealers, travelers and salesmen.
The whole success of a trust rests wholly
upon its ability to destroy competition, to
absorb, and at the same time to reduce its
expenses in every possible way, by closing
factories, by cutting off men wherever it can.
That is plain common sense, and we expect
the same of every business institution; but
a successfu) trust being an aggregation of
many organizations, possesses in itself a de-
structive strength which is incalculable.
If any member of the industry is in favor
of the trust and desires to give an option
on his business, that is his affair; but, as
far as this newspaper institution is con-
cerned it looks upon the source of the piano
trust with suspicion and mistrust, conse-
quently as a friend of the industry, it advo-
cates the most minute examination into any
proposition made, and the demanding of a
cash forfeit when an option on a business is
desired.
This course is followed in mining deals
and many others, and if Steinway & Sons
placed a seven million valuation upon their
business, granted an option on same for a
period of sixty days and demanding at the
same time an amount of cash equivalent to
ten per cent, of the purchase placed in a
bank, to become forfeited and subject to
their order, if the deal failed to go through,
why, it is more than probable that we should
hear less and less of the piano trust rumors,
until they dwindled into mere nothingness.
Why not quickly clarify the inky and
mysterious atmosphere in which the trust
promoter desires to secrete himself, by in-
sisting upon a forfeiture of a certain amount
of cash when an option is desired, provided
the deal does not go through ? It is rumored
that the promoter succumbed when one man
whom he approached asked him to put up
or keep quiet. He departed in silence—some-
thing unusual for him.
Everyone, presumably, has a price for his
business; but he should not be asked to give
up certain business secrets, devote hours of
his valuable time to parleying with the pro-
moter, without receiving some recompense.
A cash forfeiture is quite the thing. Like
the cuttlefish when evading his adversary,
the promoter immediately throws out an
inky blackness which disguises all conditions
around the trust scheme, and at the same time
he is using without authority some of the
distinguished names of the industry.
We have never been believers in the suc-
cess of schemes carried along the lines of
bluff, and we do not believe in the ultimate
success of the piano trust idea in the hands
of its present manipulator.
If the demand for a formation of a piano
trust came from the men whose interests
are directly involved, it would be an affair
in which the outsider would have compar-
atively little interest beyond a criticism, but
when the desire for a trust formation is
centered wholly in a gang of speculators who
seek to enmesh the industry, why then it is
quite time that every interested individual
took a positive stand. In this connection it
is interesting to note that in the entire trade
press of the country we have only been able
to locate two papers which have taken an
unequivocal stand regarding the trust mat-
ter. All the others are fencing or hedging.
They are to-day for the trust, to-morrow
against it. In other words, a weather-vane
policy, which shows that they could not be
relied upon in any emergency. The industry
should carefully note the attitude of the trade
press toward the trust.
Even if a combination which included a
part of the industry were effected, could it
be successful? Would not it contain within
itself the seeds of destruction which would
rapidly germinate when brought under the
powerful opposition rays?
A piano trust possesses too many vulner-
able points, in our opinion, to ever make it
a success. Combinations are possible, but
they will come of those on the inside, rather
than through the agency of scheming pro-
moters. Combinations have been steadily
going on within this industry for years, and
they will so continue.
INCORPORATE LABOR UNIONS.
"THE events of the
Will labor troubles
affect the piano in-
dustry in the fall?—
The o r g a n i z a t i o n
growing— Labor uni-
ons should incorporate
—Something tangible
then.
past week show
that labor troubles are
not among the remote
possibilities for the pi-
ano manufacturers during the coming fall.
Dold has been active in all parts of the union
where there are piano workers, and has
succeeded in perfecting his organization to
a remarkable degree, all reports to the con-
trary notwithstanding.
He has under his control to-day an active
organization with constantly augmenting
membership, and the past history of this
man does not warrant in adhering to the
belief that the power under his control will
not be exercised.
Future scanning projects are planned by the International Arcade Museum Library (IAML).