Music Trade Review
Issue: 1907 Vol. 44 N. 1 - Page 4
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC .TRADE
REVIFW
EDWARD LYMAN BILL, - Editor and Proprietor
J. B. SPILLANE, Managing Editor
Executive and Reportorlal Staff:
QBO. B. KSLIXB.
W. N. TYLEK.
F. H. THOMPSON.
BMILIB FBANCSS BAUM.
L. BJ. BOWERS. B. BBITTAIN WILSON, Wir. B. WHITE. L. J. C H I K B I K U N . A. J. NICKLIN,
BOSTON OFFICE:
CHICAGO OFFICE:
E. P. TAN HARLINOBN, 195-197 Wabaab Are.
TELEPHONES : Central 414 ; Automatic 8643
MINNEAPOLIS a n d ST. PAUL:
ST. LOUIS:
L. WAITT, 278A Tremont St.
PHILADELPHIA :
R. W. KADFFMAN.
CHAS. N. VAN BUBBN.
A. W. SHAW.
SAN FRANCISCO: Kohl Building
CINCINNATI. O.:
LONDON, ENGLAND:
NINA PUGH-SMITH.
69 Basinghall St., E. C.
W. Lionel Sturdy, Manager.
Published Every Saturday at 1 Madison Avenue, New York.
Entered at the New York Post Office as Second Class Matter.
SUBSCRIPTION, (Including pottage), United States, Mexico, and Canada, 92.00 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 ; opposiLe
reading matter, $76.00.
REMITTANCES, In other than currency form, should be made payable to Bdward
yyman Bill.
Directory ol P I — o
The directory of piano manufacturing firms and corporation*
'
I
:
found on another page will be of great ralue, as a reference
MinuUdurtri
f o r d e a l e r B a n d others.
Exposition Honors Won by The Review
brand Prix
Paris Exposition, 1900
Silver Mtfdal.Charleston Exposition, 1902
Diploma.Pan-American Exposition, 1901
Gold Medal..St. Louis Exposition, 1904
• _
Gold Afedot.Lewls-Clark Exposition, 1905
LONG DISTANCE TELEPHONE—NUMBER 1745 GRAMERCY
Cable mddresa: "Elbill N e w York."
NEW
YORK, JANUARY 5, 1907
REVIEW
will move at an accelerated pace. There is no between seasons
now in this industry, and every manufacturer realizes that the de-
mand for instruments will be continuous and ever-increasing.
With a hundred and thirty millions of dollars in dividends dis-
tributed to people in the various walks of life during the month of
January, it will mean at once a stimulus to business in every city
in the land, and with more than a hundred millions increase in the
payroll of 1907 over that of the past year will add materially to the
ability of the people to purchase what they will.
T
HERE is nothing on the business horizon to cause even the
faintest attack of pessimism. It is prosperity all about us.
It does seem deplorable that in such days of plenty and prosperity
citizens of this country should suffer cold, and hunger because of
the railroads' inability to transport sufficient supplies of fuel and
food. Piano men and all other manufacturers have suffered in-
convenience on account of the shortage of freight cars, and when
we consider the shortage of food and fuel during the cold winter
months, the condition at once reflects severely on the foresight and
ability of the managers of our great railroad systems. When farm-
ers are reduced to the necessity of burning their fences and that
because of the inability to handle grain; wheat has lain on the
ground while farmers who have attempted to dispose of their prod-
uct have been compelled to haul it back from the shipping points
to which they have taken it.
S
UCH conditions as named above of course materially injure
retail trade in sections which are so seriously affected, and it
is to be hoped that the investigation made by the Interstate Com-
merce Commission will result in fixing the responsibility of bad
railroad management which has led to such a distressing, not to
say disgraceful, state of affairs-. t
T is presumed that we will have a more elastic condition of
finances within the near future. The bill, which is before
Congress,
and which has been advocated by the American Bankers'
EDITORIAL
Association, is liable to pass.
The bill which is to be favorably reported by the committee
HE curtain has fallen upon the old year, and a mighty good
also provides that National banking associations desiring to take
year it has been, too, in every division of trade. In fact, it
out credit notes and having notes outstanding in excess of 62^2
has been a bumper twelve months of American industrial history. per cent, of their paid-up capital may redeem such excess without
Piano manufacturers and dealers have shared generously in the reference to the limitation of $3,000,000 each month now prescribed
widespread prosperity, and the industry has developed at a surpris-
by law.
ing rate. How the old timers would smile to think of turning out
The bill also provides that the National Bank guaranteed credit
in a single year 265,000 pianos. Some of them thought that piano
notes authorized by the bill may be taken out for issue without a de-
factories would be out of existence by 1907—that the demand would
posit of United States bonds, as is now required by law, the notes to
be entirely supplied, and still the industry goes on by leaps and
be of form and denomination designated by the Controller of the
bounds; probably this year the output will reach close to 300,000, if
Currency.
it does not exceed it.
F the measure is passed, as reported, every National bank which
r
I '"HE piano industry has grown steadily in importance, not only
has been in business for one year and has a surplus equal to
X in the character of its goods, but in values as well. We have
20 per cent, of its capital will be permitted to issue emergency or
ceased to wonder at a single factory turning out five thousand in-
credit currency in the sum of $37,500 for every $100,000 of its
struments annually, for now we have advanced far beyond that
capital. The amount of additional currency that will thus be
point, and we have single corporations whose piano producing power
afforded is estimated by bankers at $200,000,000.
annually reach fifteen thousand instruments. Years ago a few
It seems an absurd condition in a country so rich as this that
hundred pianos was considered a good output for a single factory,
business interests should be hampered in the slightest by a con-
but now everyone is striving for numbers. Output is slogan of
traction of currency. What a condition we would be in if the
many, and with some of the additions which are being made to
business of the country had to be conducted with actual money
factory plants, it is certain that the productive capacity will be
instead of checks and drafts as legal tenders. Nearly every manu-
vastly increased during the present year.
facturer and merchant in this country makes payments and receives
payments
in checks, thus relieving an enormous strain upon the
HERE seems to be, too, a steadily growing demand for pianos
National
currency.
If this whole system were changed about what
which keep ahead of the producing power. People outside
a
panic
almost
would
be created within a very brief time.
of the trade ask with wonder when they are told of the combined
output of the piano factories of this country in a single year, where
HE first of the year is a pretty good time for retrospective and
all of the pianos go? Who buys them? Might as well ask who
prospective views, and there is hardly a business man who
buys the watches. A watch lasts a long time, and still the factories
cannot, by close examination, discover some defects in his system,
can't produce them fast enough to supply the demand, even though
their producing capacity is enormous. We are a great country, and and the wise men will without delay take the steps necessary to
correct the deficiencies. Business must change with the times, and
with the vast purchasing power which we have, there is no limit to
sometimes a radical change is necessary in the conduct of a busi-
the possibilities of pianomaking and closely allied trades.
ness to accommodate itself to competition. A business man must
be ever at work. He can never rest upon laurels won. It is
IANOMAKERS are stocking up with supplies as rapidly as
change, constant change, which is another name for progress.
they can, which means there is going to be none of the usual
There can be no resting by the business wayside.
slackening up in January. On the contrary, the wheels of industry
I
T
I
T
T
P
THE MUSIC .TRADE
REVIFW
EDWARD LYMAN BILL, - Editor and Proprietor
J. B. SPILLANE, Managing Editor
Executive and Reportorlal Staff:
QBO. B. KSLIXB.
W. N. TYLEK.
F. H. THOMPSON.
BMILIB FBANCSS BAUM.
L. BJ. BOWERS. B. BBITTAIN WILSON, Wir. B. WHITE. L. J. C H I K B I K U N . A. J. NICKLIN,
BOSTON OFFICE:
CHICAGO OFFICE:
E. P. TAN HARLINOBN, 195-197 Wabaab Are.
TELEPHONES : Central 414 ; Automatic 8643
MINNEAPOLIS a n d ST. PAUL:
ST. LOUIS:
L. WAITT, 278A Tremont St.
PHILADELPHIA :
R. W. KADFFMAN.
CHAS. N. VAN BUBBN.
A. W. SHAW.
SAN FRANCISCO: Kohl Building
CINCINNATI. O.:
LONDON, ENGLAND:
NINA PUGH-SMITH.
69 Basinghall St., E. C.
W. Lionel Sturdy, Manager.
Published Every Saturday at 1 Madison Avenue, New York.
Entered at the New York Post Office as Second Class Matter.
SUBSCRIPTION, (Including pottage), United States, Mexico, and Canada, 92.00 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 ; opposiLe
reading matter, $76.00.
REMITTANCES, In other than currency form, should be made payable to Bdward
yyman Bill.
Directory ol P I — o
The directory of piano manufacturing firms and corporation*
'
I
:
found on another page will be of great ralue, as a reference
MinuUdurtri
f o r d e a l e r B a n d others.
Exposition Honors Won by The Review
brand Prix
Paris Exposition, 1900
Silver Mtfdal.Charleston Exposition, 1902
Diploma.Pan-American Exposition, 1901
Gold Medal..St. Louis Exposition, 1904
• _
Gold Afedot.Lewls-Clark Exposition, 1905
LONG DISTANCE TELEPHONE—NUMBER 1745 GRAMERCY
Cable mddresa: "Elbill N e w York."
NEW
YORK, JANUARY 5, 1907
REVIEW
will move at an accelerated pace. There is no between seasons
now in this industry, and every manufacturer realizes that the de-
mand for instruments will be continuous and ever-increasing.
With a hundred and thirty millions of dollars in dividends dis-
tributed to people in the various walks of life during the month of
January, it will mean at once a stimulus to business in every city
in the land, and with more than a hundred millions increase in the
payroll of 1907 over that of the past year will add materially to the
ability of the people to purchase what they will.
T
HERE is nothing on the business horizon to cause even the
faintest attack of pessimism. It is prosperity all about us.
It does seem deplorable that in such days of plenty and prosperity
citizens of this country should suffer cold, and hunger because of
the railroads' inability to transport sufficient supplies of fuel and
food. Piano men and all other manufacturers have suffered in-
convenience on account of the shortage of freight cars, and when
we consider the shortage of food and fuel during the cold winter
months, the condition at once reflects severely on the foresight and
ability of the managers of our great railroad systems. When farm-
ers are reduced to the necessity of burning their fences and that
because of the inability to handle grain; wheat has lain on the
ground while farmers who have attempted to dispose of their prod-
uct have been compelled to haul it back from the shipping points
to which they have taken it.
S
UCH conditions as named above of course materially injure
retail trade in sections which are so seriously affected, and it
is to be hoped that the investigation made by the Interstate Com-
merce Commission will result in fixing the responsibility of bad
railroad management which has led to such a distressing, not to
say disgraceful, state of affairs-. t
T is presumed that we will have a more elastic condition of
finances within the near future. The bill, which is before
Congress,
and which has been advocated by the American Bankers'
EDITORIAL
Association, is liable to pass.
The bill which is to be favorably reported by the committee
HE curtain has fallen upon the old year, and a mighty good
also provides that National banking associations desiring to take
year it has been, too, in every division of trade. In fact, it
out credit notes and having notes outstanding in excess of 62^2
has been a bumper twelve months of American industrial history. per cent, of their paid-up capital may redeem such excess without
Piano manufacturers and dealers have shared generously in the reference to the limitation of $3,000,000 each month now prescribed
widespread prosperity, and the industry has developed at a surpris-
by law.
ing rate. How the old timers would smile to think of turning out
The bill also provides that the National Bank guaranteed credit
in a single year 265,000 pianos. Some of them thought that piano
notes authorized by the bill may be taken out for issue without a de-
factories would be out of existence by 1907—that the demand would
posit of United States bonds, as is now required by law, the notes to
be entirely supplied, and still the industry goes on by leaps and
be of form and denomination designated by the Controller of the
bounds; probably this year the output will reach close to 300,000, if
Currency.
it does not exceed it.
F the measure is passed, as reported, every National bank which
r
I '"HE piano industry has grown steadily in importance, not only
has been in business for one year and has a surplus equal to
X in the character of its goods, but in values as well. We have
20 per cent, of its capital will be permitted to issue emergency or
ceased to wonder at a single factory turning out five thousand in-
credit currency in the sum of $37,500 for every $100,000 of its
struments annually, for now we have advanced far beyond that
capital. The amount of additional currency that will thus be
point, and we have single corporations whose piano producing power
afforded is estimated by bankers at $200,000,000.
annually reach fifteen thousand instruments. Years ago a few
It seems an absurd condition in a country so rich as this that
hundred pianos was considered a good output for a single factory,
business interests should be hampered in the slightest by a con-
but now everyone is striving for numbers. Output is slogan of
traction of currency. What a condition we would be in if the
many, and with some of the additions which are being made to
business of the country had to be conducted with actual money
factory plants, it is certain that the productive capacity will be
instead of checks and drafts as legal tenders. Nearly every manu-
vastly increased during the present year.
facturer and merchant in this country makes payments and receives
payments
in checks, thus relieving an enormous strain upon the
HERE seems to be, too, a steadily growing demand for pianos
National
currency.
If this whole system were changed about what
which keep ahead of the producing power. People outside
a
panic
almost
would
be created within a very brief time.
of the trade ask with wonder when they are told of the combined
output of the piano factories of this country in a single year, where
HE first of the year is a pretty good time for retrospective and
all of the pianos go? Who buys them? Might as well ask who
prospective views, and there is hardly a business man who
buys the watches. A watch lasts a long time, and still the factories
cannot, by close examination, discover some defects in his system,
can't produce them fast enough to supply the demand, even though
their producing capacity is enormous. We are a great country, and and the wise men will without delay take the steps necessary to
correct the deficiencies. Business must change with the times, and
with the vast purchasing power which we have, there is no limit to
sometimes a radical change is necessary in the conduct of a busi-
the possibilities of pianomaking and closely allied trades.
ness to accommodate itself to competition. A business man must
be ever at work. He can never rest upon laurels won. It is
IANOMAKERS are stocking up with supplies as rapidly as
change, constant change, which is another name for progress.
they can, which means there is going to be none of the usual
There can be no resting by the business wayside.
slackening up in January. On the contrary, the wheels of industry
I
T
I
T
T
P
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