Music Trade Review

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THE MUSIC TRADE REVIEW
EDWARD LYMAN BILL - Editor and Proprietor
J. B. SPHXANE, Managing Editor
1
Executive and Reportorlal Staff i
Quo. B. KuiiBB,
W. H. DYKES,
P. H. THOMPSON.
J. ITAYPEV CLARENDON.
L. E. BoWEBB, B. BBITTAIN WILSON, WM. B. WHITE, L. J. CHAMBKBLIN, A. J. NICKMN.
BOSTON OFFICE 1
BIBNSST L. WAiTTi 27JU Tremont St
CHICAGO OFFICE:
B. P. VAN HABLINGEN, 195-197 Wabagh Ave.
TBLBPHONEB : Central 414; Automatic 8643
MINNEAPOLIS and ST. PAUL t
ST. LOUIS j
PHILADELPHIA I
R. W. KAUJTMAN.
ADOLF EDSTBN.
CHAS. N. VAN BCBBN.
SAN FRANCISCO: S. H. GHAT, 2407 Sacramento S t
CINCINNATI. O.i NINA PUGH-SMITH.
BALTIMORE, MD.s A. ROBBBT FBBNCH.
LONDON. ENGLAND:
69 Baulnghall S t , B. C.
W. Lionel Sturdy, Manager.
Published Every Saturday at 1 Madison Avenue, New York.
Entered at tht New York Post Office ms Second Class Matter.
SUBSCRIPTION, (Including postage). United States and Mexico, $2.00 per year;
Canada, $3.50 ; 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, $60.00; opposite
reading matter, $75.00.
REMITTANCES, in other than currency form, should be made payable to Edward
Lyman Bill.
Directory of Piano
The directory of piano manufacturing firms and corporations
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: ~
found on another page will be of great value, as a reference
Manufacturer*
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f o r dealers and others.
Exposition Honors Won by The Review
Grand Prim
Paris Exposition, 1900
Silver Medal.Charleston Exposition 1902
Diploma.Pan-American Exposition, 1901
Gold Medal.. . S t Louis Exposition, 1904
Gold Medal. . . .Lewis Clark Exposition, 1905.
LONG DISTANCE TELEPHONES-NUMBERS 4677 and 4678 GRAMERCY
Connecting all Department*.
Cable address: "Elblll New York.**
NEW YORK.
NOVEMBER
16, 1907
EDITORIAL
T
H E financial situation still continues to be the principal subject
of thought in commercial circles, and the effect of the dis-
turbance in the Metropolis has been felt far and wide. There has
been therefore not a little interference with the regular course of
trade so far as large transactions are concerned. As conservatism
has given place to caution many purchases have been deferred await-
ing developments in the financial field, but fortunately there is now
a clearing of the skies and an improvement in the situation which
justifies the hope that the financial disturbance in its acute form is
a thing of the past. It is indeed a very favorable element in the
situation that in many sections remote from the great business cen-
ters trade is moving on in its wonted channel and in some cases,
according to Review reports, in scarcely diminished volume, and as
justifying confidence in the future there is the abundant prosperity
of the agricultural classes.
•
O
F course the trade situation is not particularly inspiring at the
present time, for manufacturers in all lines are refraining
from forcing goods on a somewhat reluctant market, especially as
the cost of producing them does not as yet call for any reduction
in price. There has been a good deal of life evidenced in the stock
market, for a great many purchasers have been seeking bargains
on the Street and vast sums of money which was hastily drawn
out during the excitement in the city have already found new chan-
nels for investment. The enormous shipments of gold from Europe
has helped along the situation materially. Well informed men say
that the great trouble is now past, but of course we will feel the
effect of the stringency in financial circles for some time to come.
r
I "HE world's stock of gold in use in 1850 was between two and
X
three billions. It is now in the neighborhood of twelve
billion. There has been over much talk of the responsibility of the
gold output for the higher cost of living and decline in stocks. Not
until the cost of living falls and the price of stocks rise, not until
the two have reached an equilibrium will this discussion entirely
cease, and a little reflection may even now be worth while.
The gold production of the future gives promise of becoming
increasingly elastic and adjusting itself more readily to the changes
in demand. When this is complete the cause of the fluctuation in
demand for gold will be removed and it may be believed that there
will be naturally a gradual and orderly increase in the demand,
Such an increase will be called for by the expansion of the world's
exchange and gradual growth of its wealth, wealth represented by
the things produced and the means of their production. Discoveries
of new sources of gojd supply during the past dozen years show
that gold production in many places has been reduced almost to
the precision of the manufacturing industry, so that it is possible
to accurately estimate the cost of the production of gold. This
means that the output can be regularly increased or decreased to a
very large extent as changes in the value of gold make either course
advisable and that means stability. Stability means confidence and
it is after all confidence which we desire to place business where it
should be. It is confidence that will bring out hidden dollars and
it is now we need confidence so that business will assume its normal
condition.
T
ONS of gold are coming from Europe on the great steamships,
a little of it for use and the rest to reassure the people and
restore confidence,-as the expression goes. But are we all helping
to restore confidence as we should? In times like these too much
conservatism can be used. Everyone who is conducting a business
should realize that a reasonable curtailment of expenses may be
in order, but the expenses can be too radically carved down so that
the earning capacity of the business is seriously hampered. Busi-
ness men should understand that these are times when we should
all stand together and help to restore confidence so that money will
move with rapidity and ease through the various channels of trade.
If the men at the head of the big enterprises show fear as to the
outcome of the present depression the smaller men will at once get
the fever, thus protracting the troubles, and it will be a long time
before business will have resumed its normal phase. If men would
proceed calmly with their contracts and use reason and caution in
all business dealings they would help materially to bring about that
business betterment which is most desirable. On the other hand,
if they show too much fear and lose their heads they will really help
to retard the good time. Reason and caution should be paramount
in these
T
HE news of the death of William B. Tremaine, which was re-
ported in last week's Review, came as a great shock to his
many friends in every section of the country. Mr. Tremaine had
a charming personality, was plain and unassuming in his manners
and his many years association with the music trade had given him
a wide acquaintance and a large personal following throughout the
entire world.
Mr. Tremaine was a remarkable man in many respects, and it
may be said of him that he was the first to recognize the great future
for instruments played by perforated music rolls. He saw the
wonderful possibilities of development from the crude type of years
ago and he at once set to work to create various improvements.
He was an inventor and one of the best authorities on the automatic
music situation in this country.
He recognized years ago at the time when the automatic indus-
try was in the chrysalis stage that it was necessary to overcome a
deeply seated public prejudice against automatically played instru-
ments. To accomplish this successfully he saw with keenness of
vision that it was first necessary to improve the types of instru-
ments. With this purpose fixed in his mind he advanced step by
step until he had the satisfaction of seeing the opposition steadily
dissipating and the public receiving automatic instruments with
warm approval.
W
B. TREMAINE might be justly regarded as the pioneer
• in the special field of automatically played instruments.
Under the tremendously forceful advertising public interest became
aroused and gradually one inventor after another began to appear
so that the progress of the industry during the past decade has been
nothing short of marvelous. In its early development there were
many obstacles to overcome, but William B. Tremaine was not of
the easily discouraged kind. Having once set his mind on the ac-
complishment of a certain objective point he worked undaunted
until that particular vantage gro;ind was won and then he saw