Music Trade Review
Issue: 1915 Vol. 61 N. 4 - Page 9
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE MUSIC TRADE REVIEW
think that it is necessary to worry about that.
There are not in existence the "several hundred
tuners" required who have made a hobby of scales
and string lengths. As for the American Steel &
Wire Co., their acoustic engineer, Frank E. Mor-
ton, has worked out a scale of ideal lengths at
even tensions. Write to American Steel & Wire
Co., Continental & Commercial National Bank
building, Chicago, for a copy of "American Piano
Wire and Pipe Organ News."
For that matter, I have done the same thing in
these columns long ago, and more than once at
that. So why worry about the several hundred
tuners ?
Communications for this department should be
addressed to William Braid White, care of The
Music Trade Review, New York.
HEAVY RAINS _DAMAOE PIANOS.
(Special to The Review.)
TOPEKA, KAN., July 19.—The piano owners in
this city are complaining through the press of the
damage done by rains here. Here is one of the
statements recently published : "Swollen piano keys
and discordant sounding wires as a result of the
seven weeks of damp and rainy weather are
troubling piano owners of Topeka. Repairing the
'damage from dampness' seems to do little good,
according to those who have pianos. One part has
no more than been repaired than the trouble crops
out on new keys and wires."
TRADE ACCEPTANCES ARE NOW TO BE NEGOTIABLE.
Federal Reserve Board Promulgates Regulations for New Class of Commercial Paper with a
Discount Rate Somewhat Lower Than That Applicable to Other Commercial Paper.
(Special to The Review.)
WASHINGTON, D. C, July ID.—The Federal Re-
serve Board has just issued and promulgated ..i
regulation as to "trade acceptances," making them
a distinct class of commercial paper, "for which
the board is ready to approve the establishment of
a discount rate somewhat lower than that applica-
ble to other commercial paper."
The board expresses the belief that the new
regulations will "considerably enlarge the scope of
service of the Federal reserve banks and incident-
ally assist in developing the class of double name
j.aper which has shown itself in so many countries
a desirable form of investment and an important
factor in modern commercial banking systems."
The new class of rediscount paper is popular, it
is said, in England, and has long been recognized
there as very safe commercial paper, and has been
found most satisfactory in dealings between piano
manufacturers and dealers. In order that a
"trade acceptance" may be eligible for rediscount
at the Federal reserve bank at a rate to be estab-
lished for such acceptance, it must meet the follow-
ing requirements:
Be indorsed by a member bank, accompanied by
a waiver of demand notice and protest; have a ma-
turity at the time of discount of not more than
ninety days; must be accepted by the purchaser of
BUYS THE LELAND BUSINESS.
WHY G. M. SLAWSON IS OPTIMISTIC.
The old-time business of S. R. Leland & Son, in
the Knowles building, Worcester, Mass., has been
purchased by the Steere Music Store, of that city.
The stock taken over consists of pianos, player-
pianos, band instruments and musical merchandise.
Dean of the Traveling Forces of The Cable
Company Found Dealers Ready to Place
Orders for Fall Trade During Visit to North-
west—Crop Conditions Satisfactory and Fac-
tories Giving More Employment All the Time.
AN ILLINOIS INCORPORATION.
The Aida Manufacturing Co. has been incorpo-
rated, with headquarters in Chicago, for the pur-
pose of engaging in the musical instruments busi-
ness. Capital, $10,000. Incorporators: J. G. Goos-
matin, H. D. Loeb and George L. Turnbull.
That our efforts to produce in-
struments of exceptionally beauti-
ful quality are appreciated by our
agents is made clear by the spirit
of enthusiasm and satisfaction that
is expressed by LAUTER dealers
in all parts of the country.
We do make instruments of ex-
ceptionally fine quality of tone and
unusually fine workmanship. Why
not reap the advantage of this
quality in building up your local
trade?
Let us tell you more about
LAUTER GRANDS, LAUTER-
HUMANAS (players) and LAU-
TER UPRIGHTS.
LAUTER CO.
NEWARK, NEW JERSEY
(Special to The Review.)
MILWAUKEE, WIS., July 20.—That liano dealers
all over the Northwest have been giving particular
attention to disposing of all their old stocks of
late and are now beginning to place some good or-
ders for new stocks in order to be in readiness for
the fall trade, is the assertion of George M. Slaw-
son, dean of the traveling sales force of the Cable
Company, of Chicago, who was in Milwaukee last
week as the guest of the J. B. Bradford Piano Co.,
handling the Cable goods in this city. Mr. Slawson
was on his way to Chicago after a successful trip
through the copper country, and, as usual, he was in
a most optimistic frame of mind.
"I am confident that conditions in the piano trade
have taken a turn for the better," said Mr. Slawson.
"In a recent trip through the Northwest I found
that crop conditions are ideal, especially in regard
to grain. The warm weather is now bringing along
the corn crop in a satisfactory manner. When
crops in this section of the country are good it
usually means that general business is pretty liable
to be satisfactory.
"Many people do not realize the extent of the
war orders which are being received in this coun-
try and the influence which these are having upon
general business. This was brought forcibly to
mind during my recent trip through the Northern
copper country, where everything is booming as a
result of the demand for copper for export pur-
poses and for manufacture in this country.
"There is no use thinking that everything in this
country is going to calamity just because of the
great war in Europe. We are a country of vast
resources and there is no excuse for the depression
which now exists in some lines. I believe that it is
mainly a state of mind, and that if we would only
realize that the loss sustained in some lines of trade
is more than offset by the big war orders and that
there is absolutely no reason why we shouldn't be
in the midst of prosperity, things would be dif-
ferent."
Mr. Slawson and his wife will observe their wed-
ding anniversary, as well as both their birthdays,
during the early part of August, when these inter-
esting events will be celebrated at the Slawson farm
and summer home at Bangor, Mich. The Cable
Company has arranged it so that Mr. Slawson can
enjoy his vacation each year at this time.
goods sold to him by the drawer of the bill, and the
bill must have been drawn against individual in-
debtedness expressly incurred by the acceptor in
the purchase of goods.
"Trade acceptances" have not been negotiable in
the United States heretofore and have had no ben-
efits of preferences as commercial paper. In add-
ing them to the class of commercial paper that may
be the subject of rediscount, the Federal Reserve
Board has borrowed a form of commercial ex-
change quite popular in Europe and asserts that it
has authority under the Federal Reserve Act to de-
clare such paper subject to the rediscount.
To be eligible to rediscount, the "trade accept-
ance" must bear on its face, or be accompanied by
evidence in a form satisfactory to the Federal re-
serve banks, that it was drawn by the seller of the
goods on the purchaser of such goods. Such evi-
dence, the Reserve Board says, may consist of a
certificate on or accompanying the acceptance, to
the following effect:
"The obligation of the acceptor of this bill arises
out of the purchase of goods from the drawer."
Such certificates may be accepted by the Federal
reserve bank as sufficient evidence, provided, how-
ever, that the Federeal reserve bank in its discre-
tion may inquire into the exact nature of the trans?
action underlying the acceptance.
An Acoustical
Triumph Won
by American
Enterprise
The correct and resolute stand
taken by the American Steel & Wire
Co. years ago, that the demand for
extra strong hard strings has no
justification in musical accomplish-
ment, is being more and more realized
daily by piano manufacturers.
The products of this house possess
all the strength that any piano ever
requires. The wire is softer, and its
vibrations produce a more domi-
nant fundamental and fewer higher
partials than the hard strings in de-
mand years ago.
The absolute uniformity, tensile
strength without hardness—wire that
vibrates so evenly throughout when
actuated by the proper amount of
energy, that richness and brilliancy
result, has been the great accomplish-
ment of the American Steel & Wire
Co.
The resultful achievements of this
house in the domain of tone are now
recognized more than ever, and the
fact that the products of this house
are receiving the highest approval
from the users of pianos is a still
higher point gained in acoustical
accomplishment.
American Steel & Wire Company
Ckicago, New York, Worcester, Cleveland, Pitts-
burgh, Denver. Export representative: U. S. Steel
Products Co., New York. Pacific Coast represen
tative: U. S. Steel Products Co., San Francisco,
Los Angeles, Portland, Seattle.
THE MUSIC TRADE REVIEW
think that it is necessary to worry about that.
There are not in existence the "several hundred
tuners" required who have made a hobby of scales
and string lengths. As for the American Steel &
Wire Co., their acoustic engineer, Frank E. Mor-
ton, has worked out a scale of ideal lengths at
even tensions. Write to American Steel & Wire
Co., Continental & Commercial National Bank
building, Chicago, for a copy of "American Piano
Wire and Pipe Organ News."
For that matter, I have done the same thing in
these columns long ago, and more than once at
that. So why worry about the several hundred
tuners ?
Communications for this department should be
addressed to William Braid White, care of The
Music Trade Review, New York.
HEAVY RAINS _DAMAOE PIANOS.
(Special to The Review.)
TOPEKA, KAN., July 19.—The piano owners in
this city are complaining through the press of the
damage done by rains here. Here is one of the
statements recently published : "Swollen piano keys
and discordant sounding wires as a result of the
seven weeks of damp and rainy weather are
troubling piano owners of Topeka. Repairing the
'damage from dampness' seems to do little good,
according to those who have pianos. One part has
no more than been repaired than the trouble crops
out on new keys and wires."
TRADE ACCEPTANCES ARE NOW TO BE NEGOTIABLE.
Federal Reserve Board Promulgates Regulations for New Class of Commercial Paper with a
Discount Rate Somewhat Lower Than That Applicable to Other Commercial Paper.
(Special to The Review.)
WASHINGTON, D. C, July ID.—The Federal Re-
serve Board has just issued and promulgated ..i
regulation as to "trade acceptances," making them
a distinct class of commercial paper, "for which
the board is ready to approve the establishment of
a discount rate somewhat lower than that applica-
ble to other commercial paper."
The board expresses the belief that the new
regulations will "considerably enlarge the scope of
service of the Federal reserve banks and incident-
ally assist in developing the class of double name
j.aper which has shown itself in so many countries
a desirable form of investment and an important
factor in modern commercial banking systems."
The new class of rediscount paper is popular, it
is said, in England, and has long been recognized
there as very safe commercial paper, and has been
found most satisfactory in dealings between piano
manufacturers and dealers. In order that a
"trade acceptance" may be eligible for rediscount
at the Federal reserve bank at a rate to be estab-
lished for such acceptance, it must meet the follow-
ing requirements:
Be indorsed by a member bank, accompanied by
a waiver of demand notice and protest; have a ma-
turity at the time of discount of not more than
ninety days; must be accepted by the purchaser of
BUYS THE LELAND BUSINESS.
WHY G. M. SLAWSON IS OPTIMISTIC.
The old-time business of S. R. Leland & Son, in
the Knowles building, Worcester, Mass., has been
purchased by the Steere Music Store, of that city.
The stock taken over consists of pianos, player-
pianos, band instruments and musical merchandise.
Dean of the Traveling Forces of The Cable
Company Found Dealers Ready to Place
Orders for Fall Trade During Visit to North-
west—Crop Conditions Satisfactory and Fac-
tories Giving More Employment All the Time.
AN ILLINOIS INCORPORATION.
The Aida Manufacturing Co. has been incorpo-
rated, with headquarters in Chicago, for the pur-
pose of engaging in the musical instruments busi-
ness. Capital, $10,000. Incorporators: J. G. Goos-
matin, H. D. Loeb and George L. Turnbull.
That our efforts to produce in-
struments of exceptionally beauti-
ful quality are appreciated by our
agents is made clear by the spirit
of enthusiasm and satisfaction that
is expressed by LAUTER dealers
in all parts of the country.
We do make instruments of ex-
ceptionally fine quality of tone and
unusually fine workmanship. Why
not reap the advantage of this
quality in building up your local
trade?
Let us tell you more about
LAUTER GRANDS, LAUTER-
HUMANAS (players) and LAU-
TER UPRIGHTS.
LAUTER CO.
NEWARK, NEW JERSEY
(Special to The Review.)
MILWAUKEE, WIS., July 20.—That liano dealers
all over the Northwest have been giving particular
attention to disposing of all their old stocks of
late and are now beginning to place some good or-
ders for new stocks in order to be in readiness for
the fall trade, is the assertion of George M. Slaw-
son, dean of the traveling sales force of the Cable
Company, of Chicago, who was in Milwaukee last
week as the guest of the J. B. Bradford Piano Co.,
handling the Cable goods in this city. Mr. Slawson
was on his way to Chicago after a successful trip
through the copper country, and, as usual, he was in
a most optimistic frame of mind.
"I am confident that conditions in the piano trade
have taken a turn for the better," said Mr. Slawson.
"In a recent trip through the Northwest I found
that crop conditions are ideal, especially in regard
to grain. The warm weather is now bringing along
the corn crop in a satisfactory manner. When
crops in this section of the country are good it
usually means that general business is pretty liable
to be satisfactory.
"Many people do not realize the extent of the
war orders which are being received in this coun-
try and the influence which these are having upon
general business. This was brought forcibly to
mind during my recent trip through the Northern
copper country, where everything is booming as a
result of the demand for copper for export pur-
poses and for manufacture in this country.
"There is no use thinking that everything in this
country is going to calamity just because of the
great war in Europe. We are a country of vast
resources and there is no excuse for the depression
which now exists in some lines. I believe that it is
mainly a state of mind, and that if we would only
realize that the loss sustained in some lines of trade
is more than offset by the big war orders and that
there is absolutely no reason why we shouldn't be
in the midst of prosperity, things would be dif-
ferent."
Mr. Slawson and his wife will observe their wed-
ding anniversary, as well as both their birthdays,
during the early part of August, when these inter-
esting events will be celebrated at the Slawson farm
and summer home at Bangor, Mich. The Cable
Company has arranged it so that Mr. Slawson can
enjoy his vacation each year at this time.
goods sold to him by the drawer of the bill, and the
bill must have been drawn against individual in-
debtedness expressly incurred by the acceptor in
the purchase of goods.
"Trade acceptances" have not been negotiable in
the United States heretofore and have had no ben-
efits of preferences as commercial paper. In add-
ing them to the class of commercial paper that may
be the subject of rediscount, the Federal Reserve
Board has borrowed a form of commercial ex-
change quite popular in Europe and asserts that it
has authority under the Federal Reserve Act to de-
clare such paper subject to the rediscount.
To be eligible to rediscount, the "trade accept-
ance" must bear on its face, or be accompanied by
evidence in a form satisfactory to the Federal re-
serve banks, that it was drawn by the seller of the
goods on the purchaser of such goods. Such evi-
dence, the Reserve Board says, may consist of a
certificate on or accompanying the acceptance, to
the following effect:
"The obligation of the acceptor of this bill arises
out of the purchase of goods from the drawer."
Such certificates may be accepted by the Federal
reserve bank as sufficient evidence, provided, how-
ever, that the Federeal reserve bank in its discre-
tion may inquire into the exact nature of the trans?
action underlying the acceptance.
An Acoustical
Triumph Won
by American
Enterprise
The correct and resolute stand
taken by the American Steel & Wire
Co. years ago, that the demand for
extra strong hard strings has no
justification in musical accomplish-
ment, is being more and more realized
daily by piano manufacturers.
The products of this house possess
all the strength that any piano ever
requires. The wire is softer, and its
vibrations produce a more domi-
nant fundamental and fewer higher
partials than the hard strings in de-
mand years ago.
The absolute uniformity, tensile
strength without hardness—wire that
vibrates so evenly throughout when
actuated by the proper amount of
energy, that richness and brilliancy
result, has been the great accomplish-
ment of the American Steel & Wire
Co.
The resultful achievements of this
house in the domain of tone are now
recognized more than ever, and the
fact that the products of this house
are receiving the highest approval
from the users of pianos is a still
higher point gained in acoustical
accomplishment.
American Steel & Wire Company
Ckicago, New York, Worcester, Cleveland, Pitts-
burgh, Denver. Export representative: U. S. Steel
Products Co., New York. Pacific Coast represen
tative: U. S. Steel Products Co., San Francisco,
Los Angeles, Portland, Seattle.
Future scanning projects are planned by the International Arcade Museum Library (IAML).