Music Trade Review
Issue: 1914 Vol. 58 N. 7 - Page 5
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
EASY MONEY SCHEMES TO THE SCRAP HEAP.
(Continued from page 3.)
Merchants began to realize that permanency in business building was, after all, the prime
factor.
Now the various States have passed laws prohibiting dishonest advertising. In other words,
an advertisement must tell the truth just the same as the individual, and if it can be proven that
dishonesty^exists in public advertising, then the advertiser will have to answer for his acts before
the bar of justice.
This shows great changes in the business world, and it shows that the people demand honesty
in business more than ever before. Still, there may be easy money and get-rich-quick schemes;
but in the music trade, as in others, men have been compelled to abandon policies which did not
meet with the requirements of the modern business situation.
The simple fact is that keen business men are so tired of seeing the easy money schemes pros-
per that they are willing to use their influence to have them eradicated.
Misrepresentation in advertising must cease; there is no question
about it. The easy money schemes of interesting the public will have
to go to the scrap heap of abandoned policies.
Healthy, Optimistic Sentiment Abroad.
B
USINESS in all departments of the music trade industry is
showing a decided betterment thes^e days. There is a healthy
optimistic sentiment abroad, which, although tinged with conserva-
tism, is tending to the development of sound conditions.
Piano manufacturers and dealers have been cleaning house, so
to speak, for some time past. They have been studying conditions
closely. As a result many reforms are being put into force, par-
ticularly in regard to credits in the retail and manufacturing fields,
f-'.iat will have a marked effect on uplifting and clarifying business
methods. Some of the keenest minds in the trade are now giving
the closest attention to. this subject. Following the remarkable cam-
paign of puzzle or coupon publicity a few years ago there was a
looseness of methods in the retail trade that did much to hurt the
industry as a whole.
This was also seen in the wholesale field by ruinous competi-
tion in the matter of supplying instruments at prices and terms
which permitted the merchant to think that he could use the stock
and capital of the manufacturer without due consideration for his
obligations.
The tightness of money and slackening of trade during 1913
brought about a situation that awakened many manufacturers and
merchants to a realization of the unsound methods of business that
were pursued.
The opening of the present year marks what may be termed
a new era in the piano field, merchants realizing that pianos that
are well sold are best sold.-^ For there has been a glaring laxity in
the terms at which pianos have been sold for years past.
In this connection we are in receipt of a number of letters
from merchants throughout the country, commending in terms of
admiration Mr. Bill's editorial in last week's Review in which he
pointed out that "Too many piano merchants are intent upon sell-
ing. They seem to think that selling pianos is the whole thing.
Rut is it? I contend that the piano is not well sold unless it is
sold to parties who have not merely the willingness, but the re-
sources to meet their deferred payments.
''Because many piano merchants in the small localities are lax
in the collection end of the business supplies the best reason why
they do not have on hand fair sized cash balances, and why they
are asking continually for renewals. Every piano man in this
country, whether he sells a piano a week or fifty pianos a week,
should work upon a systematic, intelligent basis of collections. If
he can go to his local bank and make a clean statement of his
affairs, showing that his collections are up to the minute and that
bis leases represent instruments well sold, because sold to respon-
sible parties who meet their payments with regularity and exact-
ness, he will have no trouble to finance his business; but it is not
at all times an easy matter to finance a business which represents
indifference, ignorance and an absolute abandonment of business
rules in the conduct of an enterprise. Banking men are keen and
they readily see that a man who does not handle his own interests
with wisdom cannot reasonably be trusted with large credits.'
"Men who buy many pianos on long-time notes, with frequent
renewals, are not apt to make a clean-cut showing of the business ;
but if a dealer will see to it that his business is in proper shape,
and that collections are up to the minute, he should obtain, within
reason, what money he desires at his local banks without paying
usurious rates to outside parties."
A prominent piano manufacturer writes The Review this
week: "Mr. Bill gets at fundamentals in his very able editorial
last week, wherein he pointed out that good, clean-cut, up-to-the-
minute management centers wholly upon making good sales and
making good collections. Too many dealers drift along, indifferent
to the importance of selling pianos at proper prices and on proper
terms. Mr. Bill's editorial is stimulating, educating, enlightening,
and should do a tremendous lot of good in awakening merchants
to a proper realization of the importance of good management and
proper supervision of the methods of doing business."
One of the several dealers who have written commending this
editorial said: "J am in hearty accord with Mr. Bill's remarks in
last week's Review in regard to the value of prompt collections,
and his illuminating views on retailing methods which at the present
time with many concerns have reached a stage that is absolutely
ruinous. Reform is in the air, and Mr. Bill's remarks should con-
stitute a powerful influence toward directing the attention of piano
merchants to the many serious problems that confront the piano
merchant to-day."
Edward S. Payson, president of the Emerson Piano Co., Bos-
ton, and former president of the National Piano Manufacturers'
Association, writes: "My dear Mr. Bill—1 read with great in-
terest, pleasure and profit your editorial in the February 7 issue
of The Revievv on 'The Value of Prompt Collections/ 1 wish
that it could be committed to memory, and acted on by all con-
nected with the piano business.
""There is no reason why our trade should be "subjected to the
bumps and bruises' as it now is. Sell, yes! But sell well, and
then collect. The successful piano 'merchant' is the man who
sells to advantage, and collects.
"We have brought all the present conditions upon our own
heads. Quality is not advertised, but cheapness and long terms.
Small wonder then that we are reaping the whirlwind."
Naturally these commendatory words are most gratifying, and
the vital point is that dealers are giving this subject attention.
THE MUSIC TRADE REVIEW
EASY MONEY SCHEMES TO THE SCRAP HEAP.
(Continued from page 3.)
Merchants began to realize that permanency in business building was, after all, the prime
factor.
Now the various States have passed laws prohibiting dishonest advertising. In other words,
an advertisement must tell the truth just the same as the individual, and if it can be proven that
dishonesty^exists in public advertising, then the advertiser will have to answer for his acts before
the bar of justice.
This shows great changes in the business world, and it shows that the people demand honesty
in business more than ever before. Still, there may be easy money and get-rich-quick schemes;
but in the music trade, as in others, men have been compelled to abandon policies which did not
meet with the requirements of the modern business situation.
The simple fact is that keen business men are so tired of seeing the easy money schemes pros-
per that they are willing to use their influence to have them eradicated.
Misrepresentation in advertising must cease; there is no question
about it. The easy money schemes of interesting the public will have
to go to the scrap heap of abandoned policies.
Healthy, Optimistic Sentiment Abroad.
B
USINESS in all departments of the music trade industry is
showing a decided betterment thes^e days. There is a healthy
optimistic sentiment abroad, which, although tinged with conserva-
tism, is tending to the development of sound conditions.
Piano manufacturers and dealers have been cleaning house, so
to speak, for some time past. They have been studying conditions
closely. As a result many reforms are being put into force, par-
ticularly in regard to credits in the retail and manufacturing fields,
f-'.iat will have a marked effect on uplifting and clarifying business
methods. Some of the keenest minds in the trade are now giving
the closest attention to. this subject. Following the remarkable cam-
paign of puzzle or coupon publicity a few years ago there was a
looseness of methods in the retail trade that did much to hurt the
industry as a whole.
This was also seen in the wholesale field by ruinous competi-
tion in the matter of supplying instruments at prices and terms
which permitted the merchant to think that he could use the stock
and capital of the manufacturer without due consideration for his
obligations.
The tightness of money and slackening of trade during 1913
brought about a situation that awakened many manufacturers and
merchants to a realization of the unsound methods of business that
were pursued.
The opening of the present year marks what may be termed
a new era in the piano field, merchants realizing that pianos that
are well sold are best sold.-^ For there has been a glaring laxity in
the terms at which pianos have been sold for years past.
In this connection we are in receipt of a number of letters
from merchants throughout the country, commending in terms of
admiration Mr. Bill's editorial in last week's Review in which he
pointed out that "Too many piano merchants are intent upon sell-
ing. They seem to think that selling pianos is the whole thing.
Rut is it? I contend that the piano is not well sold unless it is
sold to parties who have not merely the willingness, but the re-
sources to meet their deferred payments.
''Because many piano merchants in the small localities are lax
in the collection end of the business supplies the best reason why
they do not have on hand fair sized cash balances, and why they
are asking continually for renewals. Every piano man in this
country, whether he sells a piano a week or fifty pianos a week,
should work upon a systematic, intelligent basis of collections. If
he can go to his local bank and make a clean statement of his
affairs, showing that his collections are up to the minute and that
bis leases represent instruments well sold, because sold to respon-
sible parties who meet their payments with regularity and exact-
ness, he will have no trouble to finance his business; but it is not
at all times an easy matter to finance a business which represents
indifference, ignorance and an absolute abandonment of business
rules in the conduct of an enterprise. Banking men are keen and
they readily see that a man who does not handle his own interests
with wisdom cannot reasonably be trusted with large credits.'
"Men who buy many pianos on long-time notes, with frequent
renewals, are not apt to make a clean-cut showing of the business ;
but if a dealer will see to it that his business is in proper shape,
and that collections are up to the minute, he should obtain, within
reason, what money he desires at his local banks without paying
usurious rates to outside parties."
A prominent piano manufacturer writes The Review this
week: "Mr. Bill gets at fundamentals in his very able editorial
last week, wherein he pointed out that good, clean-cut, up-to-the-
minute management centers wholly upon making good sales and
making good collections. Too many dealers drift along, indifferent
to the importance of selling pianos at proper prices and on proper
terms. Mr. Bill's editorial is stimulating, educating, enlightening,
and should do a tremendous lot of good in awakening merchants
to a proper realization of the importance of good management and
proper supervision of the methods of doing business."
One of the several dealers who have written commending this
editorial said: "J am in hearty accord with Mr. Bill's remarks in
last week's Review in regard to the value of prompt collections,
and his illuminating views on retailing methods which at the present
time with many concerns have reached a stage that is absolutely
ruinous. Reform is in the air, and Mr. Bill's remarks should con-
stitute a powerful influence toward directing the attention of piano
merchants to the many serious problems that confront the piano
merchant to-day."
Edward S. Payson, president of the Emerson Piano Co., Bos-
ton, and former president of the National Piano Manufacturers'
Association, writes: "My dear Mr. Bill—1 read with great in-
terest, pleasure and profit your editorial in the February 7 issue
of The Revievv on 'The Value of Prompt Collections/ 1 wish
that it could be committed to memory, and acted on by all con-
nected with the piano business.
""There is no reason why our trade should be "subjected to the
bumps and bruises' as it now is. Sell, yes! But sell well, and
then collect. The successful piano 'merchant' is the man who
sells to advantage, and collects.
"We have brought all the present conditions upon our own
heads. Quality is not advertised, but cheapness and long terms.
Small wonder then that we are reaping the whirlwind."
Naturally these commendatory words are most gratifying, and
the vital point is that dealers are giving this subject attention.
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