Music Trade Review

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THE:
MUSIC TRADE REVIEW
such issues arc as usually held by large fire underwriting corpora-
tions.
W
HEN a loss occurs an insurance company first has recourse
to its bank balances, and when these are insufficient to meet
immediate claims, the company borrows what it needs. Most of the
large companies have accounts in four or five banks, so that they
can easily secure accommodation in case it is required. When the
bank balances are insufficient, and losses are heavily in excess of
$200,000, the company has to either borrow funds, or sell some of
the stocks or bonds that it had in its list of assets. In the case of the
Baltimore fire, most of the companies managed to pay out what was
needed without resorting to any violent liquidations at all.
It will be weeks before the San Francisco claims are liquidated,
but within a month a large portion of the insurance loss will have
been settled. All this, while it will draw money from certain locali-
ties, will give a stimulating effect to business houses.
C
( )LLECTIONS for the month have been surprisingly good thus
far, which shows that the business affairs of the country were
not in the slightest upset by reason of the great destruction of prop-
erty on the Coast. Our reports from piano dealers in various sec-
tions of the country indicate a spring trade of satisfactory propor-
tions. In the South there has been a falling off in business, but this
is always expected at this season of the year. The Middle West
reports a pleasing state of trade activity, and business in New' Eng-
land has improved greatly within the past two weeks. May prom-
ises to be a splendid month in music trade circles.
T
H E presence in Washington of a large number of music trade
dealers will, to a certain extent, effect sales for ten days,
because it has proven that the absence of the heads of business for
two weeks frequently has a slowing up effect upon trade. In fact,
some criticisms have been made that too much time is consumed to
attend the trade conventions, that they should be concentrated in
lesser space.
In reply to the criticisms we might state that it was considered
last year desirable to hold the meetings of the two organizations at
a separate time and place. This, later, however, was modified, and it
was concluded to hold them in the same city, but at different times,
and the fact that Sunday intervenes between the manufacturers'
meetings and the dealers was considered sufficient separation of
dates. It certainly has afforded the members ample time to discuss
various topics which have come up for consideration, and there are
a number of matters which will be referred to in next week's Review,
as it has been deemed advisable to concentrate the complete reports
of both the music trade gatherings in one issue of The Review. This
will be found more convenient for reference purposes.
W
H I L E discussing trade matters with The Review a well-
known manufacturer remarked : "Some years ago I was
prejudiced against trade papers; perhaps these prejudices were
formed by the insolent position maintained by one particular publica-
tion and its obvious desire to coerce the trade. Since then, how-
ever, 1 have been careful to select only such mediums as I deem help-
ful to our interests. 1 may say, frankly, that I am more than pleased
with the results reached. I believe that there are trade papers and
trade papers, and a man should be just as careful in his selection of
trade mediums as he would in any other forces which may be power-
ful in aiding his business. We have also tried the plan of sending
letters direct to dealers, and have established a follow-up system.
This has not been productive of as good results as our trade paper
work, and I am inclined to place greater emphasis on the trade paper
end of the business than on the follow-up system or the personal
letter plan."
I
T is a fact that men who have used trade papers fairly and
intelligently have been pleased with the results. But a man
cannot expect for a meager appropriation in a trade publication to
secure generous results. He must spend enough money to create
an impression upon readers, and then his investment will pay, and
pay well. It will pay even better than the personal letter plan named
by our friend whom we quote above, because these communications
are too frequently thrown into the waste basket without due consid-
eration, and trade papers—that is, reliable ones—are read carefully
from cover to cover.
Then the trouble with the follow-up system sometimes lies in
the fact that letters reach a point, where to the snpersensitive they
appear to be offensively persistent, and many piano merchants seri-
ously object to receivh g literature which smacks so strongly of their
own system of pursuing a customer. Then, too, there is a remark-
able sameness in the style of the follow-up letters usually sent out
by different houses. It is possible, of course, to make great improve-
ments in this system, but the good, old-fashioned trade newspaper
work, when given in proper doses, seems to satisfy the majority of
patrons.
UR music trade men generally have not been in favor of the
repeal of the federal bankruptcy act of 1898, and business
men of the country are satisfied that it is well worthy of the name.
Under it the honest debtor as well as the creditor has benefited, con-
sequently there is, naturally, surprise over the efforts to repeal it.
So far as appears, the repeal is not urged by any considerable num-
ber of that business class or merchants who seek only fair dealing
between debtor and creditor. Such men are inclined to believe that
this repeal would seriously impair confidence in the credit system
of the country, and check its extension. With them trade is based
on credit, and nothing which shall impair it or check its expansion
should be permitted.
There are plenty of good honest piano merchants who are not
well endowed with worldly goods, but who have the greatest acset
of all, good character, and with that they obtain credit. This is
well illustrated in the case of the San Francisco merchants. Manu-
facturers who have been dealing with them for years and know of
their honesty and integrity do not hesitate to extend credit to them
in the hour of need, and it is at just such times that a man can thank
his stars that he has lived up to the laws of business honesty, be-
cause when it comes to a pinch character counts for more than dol-
lars and it will help a man to make dollars every time. And the only
man who can destroy character is the man himself. His zealous
competitors may attack him but the onslaughts are harmless if he
has observed the rules of trade honesty.
O
P
IANO manufacturers, small goods men, or talking machine
people should familiarize themselves with the Cuban laws
regarding the use of trade-marks.
Acting on the complaint of many of its members of the confis-
cation of trade-marks by citizens of Cuba, the Merchants' Associa-
tion of. New York has issued a bulletin warning American manufac-
turers of the dangers they face.
Under the Cuban laws the mere registration of a trade-mark
give absolute and exclusive right to its use in Cuba. Any citizen
of Cuba may register any well-established trade-mark not already
registered in the island and become exclusive owner without the con-
sent or knowledge of the American or other owner. Moreover,
when the American manufacturer endeavors to place his goods in
Cuba, they are subject to confiscation, and the Cuban who has regis-
tered the trade-mark, even without the real owner's knowledge, has
ground for both a civil and criminal action against the American for
infringement. This has led to much blackmail.
R
EGARDING the Cuban trade we have received the subjoined
communication, under date of May 4, from a subscriber, John
L. Stowers, Havana, in which he criticises some of the customs of
our American manufacturers regarding incomplete details in con-
nection with export trade. He says: "I noticed an article in your
paper of April 21, under the heading 'will help our trade abroad.'
There is no doubt that the changes that are to be made in the con-
sular service will be a great help, but the consular service is not to
blame for the mistakes of the American manufacturers. You will
find that a great many of the merchants in Cuba will not order any-
thing from the States, as they know that the invoice will not be made
out correct, so that it will be accepted by the Custom J louse. In
Cuba of all the goods that I have bought from the States 1 have only
found one manufacturer in ten that had the papers made out cor-
rectly, while from Germany and France I have never had any trouble
with the papers for the Custom House. The German and French
are export nations, and the American manufacturer can never expect
to take the trade from them until he learns how to make out an
invoice for export."