Music Trade Review

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THE:
10
MUSIC TRADE
REVIEW
at all times, for naturally clouds will appear from time to time upon
the business horizon. It cannot be all sunshine in the business
world.
T
EDWARD LYMAN DILL.
Editor and Proprietor.
J. B. 8P1LLANE, Managing Edlt.r.
EXECVTIVE AND REPORTORIAL STAFF:
GKO. B. KELLER,
W M . B. W H I T * .
W. N. TYLER,
W. L. WILLIAMS,
A. J. NICKLIN,
BOSTON OPFICE:
KB NEST L. WAITT, 266 Washington S t
PHILADELPHIA OFFICB:
R. W. KAUFFMAN.
EMILIE FIANCIS BAUXB,
GEO. W. QUEEIPEL.
CHICAOO OFFICE
E. P. VAN ITARLINGEN, 1362 Monadnock Hlock.
MINNEAPOLIS AND ST. PAUL:
E. C. TOSRXY.
ST. LOU 15 OFFICE :
CHAS. N. VAN BUREN.
SAN FRANCISCO OFFICB: ALFRED METZGEB, 425-427 Front S t
Published Every Saturday at 1 Madison Avenue, New York.
Entered at the New York Post Office as Second Class Matter.
SVBSCRIPTION (including pottage), United States, Mexico and Canada, $2.00 per
year; all other countries, $4.00.
ADVERTISEMENTS. $2.00 per inch, single column, per insertion. On quarterly or
yearly contracts a special discount is allowed. Advertising Pages, $50.00; opposite
reading matter, $76.00.
REMITTANCES, in other than currency form, should be made payable to Edward
Lytnan Bill.
__
On the first Saturday of each month The Review contains in its
THE ARTISTS' "Artists' Department" all the current musical news. This is effected
_. M , M _ without in any way trespassing on the site or service of the trade
iv . ni
DEPARTMENT section of the paper. It has a special circulation, and therefore aug-
ments materially the value of The Review to advertisers.
n i i r r T n o v ^ Diiun f The
of piano manufacturing firms and corporations
o u n d directory
on
u.««,;»rT,o/.r.
"nother page will be of great value, as a reference for
MANUFACTURERS
dealers and others.
LONG DISTANCE TELEPHONE-NUMBER 1745 GRAMERCY.
NEW YORK. MAY 6, 19O5.
T
HE last two weeks have been somewhat eventful in financial
and trade circles. There has been a decided depreciation
in a good many important stocks, and naturally the retail depart-
ment trade has shown the results of these unstable conditions. All
lines of trade are so inter-related that any movement in financial
circles which has a tendency to depress the stock market has an
immediate effect upon the retail establishments throughout the
country. The depression is less, however, in the Central and South-
ern States than in the East, where we are closer to the great gambling
headquarters. One of the greatest causes in bringing about the
present conditions is due to the fact that the attention of the peo-
ple has been drawn to the serious mismanagement of great insti-
tutions, and they are losing faUfa in the honesty of men, as well as
in their ability to successfully manage colossal institutions.
T
HERE is the Equitable scandal. The exposures incident to the
mismanagement of that great institution have had a serious
effect upon business of all kinds. Not only are there hundreds of
thousands of policy holders interested, but the attention of millions
of people has been drawn to the affairs of this great corporation,
through the publicity given by the daily papers, and a great many
incidents which have come to light show how the high officials have
been watchful of their own interests to the disadvantage of others.
Then the big bank embezzlement in Milwaukee has had a
further effect to create a feeling of distrust of the management of
financial institutions. Now, if a few more of these materialize within
the next few weeks, the effect cannot be otherwise than depressing
upon the general trade conditions of this country. What we need
most of all in public and in corporation affairs is plain, old-fashioned
honesty. Not so much brains, but the kind of integrity which in-
sures everyone a square deal.
T
HERE is nothing, however, in the situation, as we view it, to
cause the slightest alarm, for the general conditions are excel-
lent. Tn fact, the country never was in better shape financially to
stand any kind of a strain than at the present time.
Crop indications point to a great yield, and the reserve power
of the country is enormous, but we cannot have things the right way
HERE is a reverse side to the medal, and if we look at con-
ditions in our own city, we will see that building is well
started on such a boom in New York that records are being broken
every day, and the prospects are that the present year will see more
houses constructed than the most sanguine builder had expected.
Plans for structures costing over sixty millions have been filed with
the Building Department recently in New York, and in Brooklyn
alone over six thousand residences will be constructed during the
spring. Now the distribution of such sums of money as is required
in the construction of these buildings must be beneficial to all lines of
trade. The addition of six thousand dwelling houses to Brook-
lyn in a single season will show what a fertile field that borough is
for the piano merchant.
T
HERE is no denying the fact that New York City with its
environs furnish the richest piano market in the world. With
our enormously growing population the finest piano market is
created at our doors. John Wanamaker has learned this, and he is
developing the field at a rate which shows conclusively that he
thoroughly appreciates the possibilities of New York as a piano
distributing center.
A well known Western man while visiting the offices of The"
Review said that he would like to be able to have such a piano popu-
lation to work upon for one year. He felt that he could show
enormous results. There is no question but that a rich and inviting
field lies all around us.
T
ALK about frenzied finance and Cassie Chadwick! We do not
have to look outside our own industry to locate eccentricities
in financial juggling. What a farce for an institution to incorporate
with $100,000 capital with not one dollar actually paid in! The
testimony recently taken in Boston shows how large credit may be
obtained simply through bluff and misrepresentation.
Now, the old Bay State cannot afford to have its good name
injured by lax corporation laws, and if it permits institutions to
incorporate for enormous sums without having any actual assets it
must react upon the business of that commonwealth. The business
interests of a State can be protected and maintained only by strin-
gent laws regulating its corporation acts, and it is to be hoped that
the remarkable case in Boston may be the means of modifying the
Massachusetts laws so that better protection may be afforded to the
men doing business in that State. Such lax conditions must neces-
sarily reflect upon the financial abilities of other institutions, and
Massachusetts should see to it at once that proper laws arc passed
so that her solid institutions may not be placed under the ban of
suspicion.
T has been frequently remarked that credit is easily gained in this
trade, and that unfair competition was being kept alive by men
who adopt disreputable methods in the conduct of their business,
because they have neither reputation nor capital at stake. The
claims have been made that such men are supplied with instruments
when neither their character nor financial ability should entitle them
to be the recipients of such favors at the hands of manufacturers.
There is one thing certain in view of the publicity which the
Hall case has received in Boston. It is important that the credit
system be readjusted in particular cases. There are plenty of
deserving, ambitious men who have no capital save that of char-
acter, who are entitled to some assistance at the hands of manu-
facturers.
I
T is equally true that there are a lot of men who arc nothing less
than piano sharks, who obtain credit through gross misrepre-
sentation, and they are the ones who are keeping alive competition
that no honest man who pays his bills can meet.
How is the man who is conducting an honest piano store on
a small capital going to meet the competition of the man who
incorporates for a large sum with not a dollar behind him, and who
secures all the pianos he desires and can put them out on all kinds
of terms because he never expects to pay for them ?
It is a difficult question to answer, and surely the men who
are not deserving of credit should not receive special favors at the
hands of manufacturers.
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