Music Trade Review

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE
HERE is a marked tendency on the part of dealers to secure
larger installment payments than ever before. This move-
ment should be encouraged, for in no other line of manufactured
products are the installment payments so small for the amount of
merchandise purchased, nor do they extend over such a long time
payment period. Some have given a four years' time in which to
make piano payments. This is passing the safe limit, and every
dealer who is running small payments over a period of years should
revise his time and payment schedule, for unless he has a long purse
he will have locked up his capital. He will realize his profits more
quickly, and he will run his business on much safer lines, and know
where he is at all times in a more satisfactory manner than the pres-
ent long time system. It is said on excellent authority that a depart-
ment store in New York has a million locked up in sales in the dol-
lar a week and nothing down plan. The people who purchase on
that plan are not usually desirable customers and have but little re-
gard for an obligation.
T
REVIEW
entered is not likely to be merely a brief reaction from the recent
depression.
It now seems certain that we have entered upon a period when
industrials take their proper position, and they have won their place
as permanent dividend producing factors. The great consolidations
in the music trade industry seem to have more distinct success.
W
E frequently hear the statement made that piano making is
a young industry in this country, but is it?
Piano manufacturing in this country dates back almost to as
early a period as in England. Early in the past century there
were a number of sporadic piano manufacturing enterprises in at
least three cities of the Union, but none of them survived for a long
period of years until the Chickering institution was launched in 1823.
The kistory of this house is one of continuous growth and ex-
pansion. The principles which Jonas Chickering established have
been followed out by his successors in a manner which has been pro-
ductive of splendid musical results. Chickering, the founder, was a
man of originality and inventive genius. He was not satisfied with
HERE are some who will not sell instruments on
the
instruments of his time and developed them, and probably there
time for less than ten dollars per month. There are
has
been no period during the entire eighty-two years of Chicker-
others who hold to a regular payment of five dollars and
ing
existence wherein investigations, and experiments, have not
some regular dealers who go as low as nothing down and
been
carried on within the walls of the Chickering factory. It is that
a dollar a week. Now the five dollar payment on a piano
unremitting,
experimenting, investigating—and inventing—which
worth $225 is no less a percentage than ten dollars a month
has
made
the
Chickering
not only a piano of the past, but a piano of
on a $450 piano. So if it is well for a man to sell a high-priced piano
the
present,
and
a
piano
with
a great future as well. Complete sat-
on a ten dollar payment plan, it is just as wise to sell a cheaper piano
isfaction
usually
means
retrogression
and the promoters of the
for five dollars and still further down the scale in price for four dol-
Chickering
business
have
never
been
content
to rest on laurels won,
lars. But is it not time to call a halt upon the small payment, long-
they
have
ever
been
pressing
forward
to
the
accomplishment of
time plan ? It seems that the business could be run on a much more
higher
ideals.
satisfactory basis if this matter were carefully considered, and larger
payments and shorter time required.
RECENT Vermont jury awarded damages against the local
labor union for interference with the business of the manufac-
INDUSTRIAL stocks are having their innings nowadays and the
turer.
I past five years have witnessed rapid changes in the sentiment of
At St. Catharines. Ontario, another jury has awarded a damage
the public towards industrial combinations. When the era of con-
of $15,000 against six labor unions in that city in a suit begun by the
solidations began in 1899, about the time when the piano promoter
Gurney Foundry Co., of Toronto, on account of the unions having
was trying to establish a trust in this industry, speculation was ram-
put the Gurney goods on the black list.
pant, and for a time such high prices ruled on industrial stocks that
This establishes a precedent and locates responsibilities and some
vast fortunes were realized by those who participated in launching
piano manufacturers whose instruments have been blacklisted in
the various trusts. Then followed a period of decline, due largely to
some of the literature issued by the labor unions are considering
the enormous issue of securities that were beyond the digestive ca-
strongly the advisability of bringing suits for damages.
pacity of the country. This period of decline was further hastened
by the growth of hostility to trusts, causing a feeling of insecurity
MERICAN pianos will have a steadily growing market in
among holders of the stocks else some effective method might
Cuba, but it should be understood that the population in
develop by which the great consolidations would be declared illegal
Spanish-American countries is not counted in the same way as far
and be compelled to resolve themselves into their original units.
as piano purchasing power is concerned, as we reckon in our north-
ern countries. There are few in the country districts outside of the
DDED to these influences came the depression in trade in 1903-4
planters themselves who have either the money to purchase a piano
which caused earnings to decline, dividends to be reduced and
or a place to put it, and in the cities which have a considerable
in some instances brought about failure of underwriting projects
population there does not exist the same purchasing power as in
with exposures of questionable methods of financing such schemes
cities where the men are employed at good wages. Merchants in
which brought all trusts into serious disrepute.
some other lines are having trouble owing to the peculiarity of old
Prices of all industrial stocks suffered from these unsetting
laws effecting trademarks.
factors, which affected the public mind. Even the strong corpora-
There is an old regulation which provides that the mere use
tions did not escape from the fate which befell the weak ones. The
of a trade-mark for any length of time in Cuba does not estab-
stocks of those continuing to earn and pay dividends declined until
lish proprietary right thereto unless a trade-mark is registered. A
only the reckless or very shrewd cared to purchase them. So un-
number of Cubans have taken advantage of this law and have se-
certain was the prosperity that many holders of such stocks who had
cured the registration of valuable American trade-marks in Cuba in
bought them at higher prices became discouraged and realized as
their own names, thus acquiring the right to actually exclude the
well as they could they were losing heavily on their ventures.
American owner of a trade-mark from the market, although he may
have been selling goods under his trade-mark in Cuba for years.
ITHIN the past six months a remarkable change has occurred,
which, in many respects, is the most extraordinary ever
HERE appears to be a general conspiracy among certain Cubans
known in the financial world. Rapid recoveries in stocks have been
to register some of the most valuable trade-marks as soon as
seen before, but in such cases the stocks themselves have not been dis-
they perceive that the goods bearing the mark are securing general
credited, and a recovery was due simply to an improvement in gen-
sale in Cuba. And then they approach thtc American owner with an
eral financial conditions. Now, however, we see the distrusted
order to sell the Cuban registry of his own mark for a stipulated sum.
industrials of the recent past, making price records which in some
This species of highway robbery is one that should be met by so vig-
cases are very far above the high water mark reached when the com-
orous a protest that the Cuban government would be obliged at once
panies were first organized. So complete has been the restoration
to take measures to meet it.
of industrials that financial editors arc pointing out reasons why the
Imagine a piano manufacturer being approached by a Cuban
trust stocks should be expected to prove profitable investments for
who offers to sell him the right to do business on the island with his
those who have been recently acquiring them.
own product! It might be well for those piano men who contemplate
This change in attitude has of course largely been brought about
doing business in Cuba to register their own trade-marks there. It
by the great improvement in general business conditions, and a con-
will act as a safeguard and they cannot be held up by any one who
viction that a new period of prosperity upon which the country has
desires to appropriate a part of their trade-mark rights.
T
A
A
A
W
T