Music Trade Review
Issue: 1907 Vol. 45 N. 21 - Page 4
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE
MUSIC TRADE
FEVEW
EDWARD LYMAN BILL - Editor and Proprietor
J. B. SPILLANE, Managing Editor
Executive and Reportorlal Staff i
Quo. B. KWIJ.WR,
W. H. DYKES,
F. H. THOMPSON.
J. HAYDEN CLARENDON.
L. B. BOWBKS, B. BBITTXIN WILSON, WM. B. WHITE, L. J. CHAMBERLIN, A. J. NICKLIN
BOSTON OFFICE:
CHICAGO OFFICE:
B. P. VAN HABLINGEN, 195-197 Wabash Ave.
TBLETHONES : Central 414 ; Automatic 8648
MINNEAPOLIS and ST. PAUL i
ST. LOUIS:
ERNEST L. WAITT, 278A Tremont S t
PHILADELPHIA I
R. W. KAUFFMAK.
ADOLF BDSTBN.
CHAS. N. VAN BUEBN.
SAN FRANCISCO: S. H. GRAY, 2407 Sacramento St.
CINCINNATI, O.t NINA PUGH-SMITH.
BALTIMORE. MD.: A. ROBERT FRENCH.
LONDON, ENGLAND:
69 Baslnghall S t , E. C.
W. Lionel Sturdy, Manager.
Published Every Saturday at 1 Madison Avenue, New York
Entertd at the New Ytrk Pest Office ss Stand 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 ol Piano
The directory of piano manufacturing firms and corporations
found on another page will be of great value, as a reference
Manufacturers
for dealers and others.
Exposition Honors Won by The Review
Grand Prix
Paris Exposition, 1900 Silver Medal. Charleston Exposition 1902
Diploma.Pan-American Exposition, 1901 Gold Medal.. .St Louis Exposition, 1904
Gold Medal. .. .Lewis-Clark Exposition, 1905.
LONG DISTANCE TELEPHONES-NUMBERS 4677 and 4678 GRAMERCY
Connecting all Department*.
_
Cable address; "Elplll New York.-
^
REVIEW
credit than it has been during the past few years. Business ex-
pansion will necessarily come from accrued profits of the business
rather than through the ability of men to float paper representing
questionable values.
I
T should be a matter of general congratulation in this trade that
there has been such stability apparent. Notwithstanding the
severe strain to which the business men have been subjected during
the past month not a single important strand has parted in the piano
industry. Certainly that strength speaks volumes for the financial
strength of piano men.
If we stop talking so much about depression and turn our
attention to optimistic forecasts and to legitimate expansion of busi-
ness it would be much better all around and papers, particularly
trade papers, should use exceeding care as to the printing of rumors.
Great damage might be done in such times by the thoughtless rush-
ing into print with inaccurate and premature statements regarding
firms and individuals.
Conditions in the talking machine industry are most reassuring.
W. E. Gilmore, general manager of the National Phonograph Co.,
stated to The Review last week that he was making shipments of
phonographs, records and supplies in the same relative weekly pro-
portions as in the past and that orders placed with him have not
been decreased to any material extent by cancellation. New orders
have been much better than anticipated and the first orders for
December records exceed in value any month in the history of the
business. Mr. Gilmore further said, "So far as the future is con-
cerned we are very optimistic and statistics indicate that be the
times good or bad amusement features are about the last to be
affected." Mr. Gilmore stated that collections as a whole had been
in every way satisfactory and that in his belief the present financial
condition would be short lived.
.
. '
SPLENDID address was delivered last week by George B.
Cortelyou, Secretary of the Treasury, and possible President
of the United States, before the Merchants' Association of New
York. Mr. Cortelyou's remarks should be read by every citizen of
the United States. They were full of deep meaning and rang with
EDITORIAL
patriotism. Here are a few crisp sentences from the Secretary's
speech:
O one can tell to what extent the country has suffered through
"It is a time when every citizen should assume his share of the
the financial situation existing in this city and elsewhere. It
burden. The hoarding of money, the exaction of unnecessarily
is pretty difficult to figure out just what the unreasoning fear which
harsh requirements in business dealings, but retard our return to
has spread out among our people has cost in dollars and cents. The
normal conditions. The hoarded money should be put back in the
panicky conditions, however, which were speedily checked, should
banks and the exactions of bankers and merchants should be pro-
prove to thinking people how solid a basis underlies our National
portioned only to actual business necessities. To do otherwise is
stability. Thoughtful business men in this trade and other lines
not only unpatriotic, but unwise. I believe that if this money of
of manufacture had predicted some such condition as we have faced
the country, wherever hoarded, were at once put back to fulfill its
and it is to be hoped that the lessons taught will not be in vain, so functions in the channels of trade there would be within twenty-
that hereafter it will be by no means easy for gamblers to obtain
four hours an almost complete resumption of business operations.
control on a large scale of banks for the furthering of their schemes.
I doubt whether we can in any way estimate the loss that has fallen
Warned by bitter experience, those charged with the safeguarding
upon those who have, either through selfish or misguided motives,
of our financial institutions will be far more attentive to their duties.
thus drawn their money from places of more than reasonable safety
In addition the trust companies, which heretofore have remained
to put it where it has been lost through robbery or fire or other
exempt from the restrictions and supervision applied to banks, will
misfortune.
also be brought under proper control. More forcibly, too, will Con-
"During periods of anxiety and unrest the President and his
gress be impressed with the need of a change in our financial sys- advisers are appealed to from all quarters with suggested remedies
tem enabling banks of the country under proper safeguards to
for existing evils. Some are worthy of serious consideration, but
increase the supply of currency at times of shortage in the medium
many—very many—do not fall within that classification. A case
of exchange.
in point are the suggestions of various kinds that are now made
for currency reform. This subject is one of great concern to every
F course there may be places here and there where the busi-
citizen, and it must have the fullest and most careful consideration.
ness skies have not entirely cleared, and a period must elapse
We must not be hurried into ill-considered legislation. Panic in
before the distribution of money is again as adequate as could be
legislation is worse even than panic in business, for it strikes at the
desired. Nevertheless the outlook is full of encouragement. From
foundations of the government.
the more central sections of the country, from the Southwest and
"The various plans advocated for currency reform must be
Northwest, we receive glowing reports of increased trade and of
subjected to rigid scrutiny, to the end that the citizens of every sec-
the general ability of the public to purchase not merely necessities,
tion shall be fairly treated, their needs and requirements consulted,
but luxuries and these in liberal quantities. Some opinions of piano
and, above all, that whatever action is finally taken shall be so sound
merchants in the columns of The Review this week should be
and wholesome as to enhance our commercial standing among the
perused with interest. We should not permit ourselves to grow
nations of the'world."
pessimistic by reason of business conditions which most of us have
to face. We should not enforce a retrenchment which will seriously
PROMINENT member of the trade who has just returned
impair the earning capacity of the business enterprises which we
from a Western trip wrote to The Review this week: "I
conduct. Credits, of course, in all lines will be watched more care-
have been much interested in your business editorials. They con-
fully than before and it will be more difficult for men to obtain
stitute to my mind a splendid summing up of the business conditions
NEW YORK,
NOVEMBER 23, 1907
A
N
O
A
THE
MUSIC TRADE
FEVEW
EDWARD LYMAN BILL - Editor and Proprietor
J. B. SPILLANE, Managing Editor
Executive and Reportorlal Staff i
Quo. B. KWIJ.WR,
W. H. DYKES,
F. H. THOMPSON.
J. HAYDEN CLARENDON.
L. B. BOWBKS, B. BBITTXIN WILSON, WM. B. WHITE, L. J. CHAMBERLIN, A. J. NICKLIN
BOSTON OFFICE:
CHICAGO OFFICE:
B. P. VAN HABLINGEN, 195-197 Wabash Ave.
TBLETHONES : Central 414 ; Automatic 8648
MINNEAPOLIS and ST. PAUL i
ST. LOUIS:
ERNEST L. WAITT, 278A Tremont S t
PHILADELPHIA I
R. W. KAUFFMAK.
ADOLF BDSTBN.
CHAS. N. VAN BUEBN.
SAN FRANCISCO: S. H. GRAY, 2407 Sacramento St.
CINCINNATI, O.t NINA PUGH-SMITH.
BALTIMORE. MD.: A. ROBERT FRENCH.
LONDON, ENGLAND:
69 Baslnghall S t , E. C.
W. Lionel Sturdy, Manager.
Published Every Saturday at 1 Madison Avenue, New York
Entertd at the New Ytrk Pest Office ss Stand 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 ol Piano
The directory of piano manufacturing firms and corporations
found on another page will be of great value, as a reference
Manufacturers
for dealers and others.
Exposition Honors Won by The Review
Grand Prix
Paris Exposition, 1900 Silver Medal. Charleston Exposition 1902
Diploma.Pan-American Exposition, 1901 Gold Medal.. .St Louis Exposition, 1904
Gold Medal. .. .Lewis-Clark Exposition, 1905.
LONG DISTANCE TELEPHONES-NUMBERS 4677 and 4678 GRAMERCY
Connecting all Department*.
_
Cable address; "Elplll New York.-
^
REVIEW
credit than it has been during the past few years. Business ex-
pansion will necessarily come from accrued profits of the business
rather than through the ability of men to float paper representing
questionable values.
I
T should be a matter of general congratulation in this trade that
there has been such stability apparent. Notwithstanding the
severe strain to which the business men have been subjected during
the past month not a single important strand has parted in the piano
industry. Certainly that strength speaks volumes for the financial
strength of piano men.
If we stop talking so much about depression and turn our
attention to optimistic forecasts and to legitimate expansion of busi-
ness it would be much better all around and papers, particularly
trade papers, should use exceeding care as to the printing of rumors.
Great damage might be done in such times by the thoughtless rush-
ing into print with inaccurate and premature statements regarding
firms and individuals.
Conditions in the talking machine industry are most reassuring.
W. E. Gilmore, general manager of the National Phonograph Co.,
stated to The Review last week that he was making shipments of
phonographs, records and supplies in the same relative weekly pro-
portions as in the past and that orders placed with him have not
been decreased to any material extent by cancellation. New orders
have been much better than anticipated and the first orders for
December records exceed in value any month in the history of the
business. Mr. Gilmore further said, "So far as the future is con-
cerned we are very optimistic and statistics indicate that be the
times good or bad amusement features are about the last to be
affected." Mr. Gilmore stated that collections as a whole had been
in every way satisfactory and that in his belief the present financial
condition would be short lived.
.
. '
SPLENDID address was delivered last week by George B.
Cortelyou, Secretary of the Treasury, and possible President
of the United States, before the Merchants' Association of New
York. Mr. Cortelyou's remarks should be read by every citizen of
the United States. They were full of deep meaning and rang with
EDITORIAL
patriotism. Here are a few crisp sentences from the Secretary's
speech:
O one can tell to what extent the country has suffered through
"It is a time when every citizen should assume his share of the
the financial situation existing in this city and elsewhere. It
burden. The hoarding of money, the exaction of unnecessarily
is pretty difficult to figure out just what the unreasoning fear which
harsh requirements in business dealings, but retard our return to
has spread out among our people has cost in dollars and cents. The
normal conditions. The hoarded money should be put back in the
panicky conditions, however, which were speedily checked, should
banks and the exactions of bankers and merchants should be pro-
prove to thinking people how solid a basis underlies our National
portioned only to actual business necessities. To do otherwise is
stability. Thoughtful business men in this trade and other lines
not only unpatriotic, but unwise. I believe that if this money of
of manufacture had predicted some such condition as we have faced
the country, wherever hoarded, were at once put back to fulfill its
and it is to be hoped that the lessons taught will not be in vain, so functions in the channels of trade there would be within twenty-
that hereafter it will be by no means easy for gamblers to obtain
four hours an almost complete resumption of business operations.
control on a large scale of banks for the furthering of their schemes.
I doubt whether we can in any way estimate the loss that has fallen
Warned by bitter experience, those charged with the safeguarding
upon those who have, either through selfish or misguided motives,
of our financial institutions will be far more attentive to their duties.
thus drawn their money from places of more than reasonable safety
In addition the trust companies, which heretofore have remained
to put it where it has been lost through robbery or fire or other
exempt from the restrictions and supervision applied to banks, will
misfortune.
also be brought under proper control. More forcibly, too, will Con-
"During periods of anxiety and unrest the President and his
gress be impressed with the need of a change in our financial sys- advisers are appealed to from all quarters with suggested remedies
tem enabling banks of the country under proper safeguards to
for existing evils. Some are worthy of serious consideration, but
increase the supply of currency at times of shortage in the medium
many—very many—do not fall within that classification. A case
of exchange.
in point are the suggestions of various kinds that are now made
for currency reform. This subject is one of great concern to every
F course there may be places here and there where the busi-
citizen, and it must have the fullest and most careful consideration.
ness skies have not entirely cleared, and a period must elapse
We must not be hurried into ill-considered legislation. Panic in
before the distribution of money is again as adequate as could be
legislation is worse even than panic in business, for it strikes at the
desired. Nevertheless the outlook is full of encouragement. From
foundations of the government.
the more central sections of the country, from the Southwest and
"The various plans advocated for currency reform must be
Northwest, we receive glowing reports of increased trade and of
subjected to rigid scrutiny, to the end that the citizens of every sec-
the general ability of the public to purchase not merely necessities,
tion shall be fairly treated, their needs and requirements consulted,
but luxuries and these in liberal quantities. Some opinions of piano
and, above all, that whatever action is finally taken shall be so sound
merchants in the columns of The Review this week should be
and wholesome as to enhance our commercial standing among the
perused with interest. We should not permit ourselves to grow
nations of the'world."
pessimistic by reason of business conditions which most of us have
to face. We should not enforce a retrenchment which will seriously
PROMINENT member of the trade who has just returned
impair the earning capacity of the business enterprises which we
from a Western trip wrote to The Review this week: "I
conduct. Credits, of course, in all lines will be watched more care-
have been much interested in your business editorials. They con-
fully than before and it will be more difficult for men to obtain
stitute to my mind a splendid summing up of the business conditions
NEW YORK,
NOVEMBER 23, 1907
A
N
O
A
Future scanning projects are planned by the International Arcade Museum Library (IAML).