Music Trade Review
Issue: 1917 Vol. 65 N. 14 - Page 5
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THE MUSIC TRADE REVIEW
The Moratorium and Its Effect on the Music Trade
"Instalment Contracts.— (1) No person who has received un-
the matters now before Congress and which is of
O NE direct of interest
der a contract for the purchase of real or personal property, or
to the music trade is the proposition to de-
of lease or bailment, with a view to purchase of such property
clare a moratorium on the obligations of all soldiers and sailors
for the period of the war. In other words, action could not be
taken to collect on accounts owed by men in the service until
they had been discharged from the army and returned to civil
life. It is looked upon as a patriotic duty to protect the interests
of men in the righting forces while they are away, and although
any law enacted might be taken advantage of by some unscrupu-
lous person things could be so arranged on the whole as to cause
a minimum of inconvenience and loss on the part of creditors.
Just how far the piano trade will be affected by this law is a
question, and opinion is somewhat divided, although the majority
of those interviewed on the question seem to think that the actual
results may not be so serious as would appear at first glance.
In the first instance a great majority of those enlisted in the
various branches of the service are unmarried men, without the
home ties that would place them in the position of piano pur-
chasers. In cases where the single men have purchased pianos
on the instalment plan there will be frequently found people left
at home who are in a position to assume the obligations.
Those who have joined the service as officers receive for the
most part salaries that should enable them to continue their pay-
ments unless for some special reason they care to take advantage
of a moratory law. The chief trouble with the piano man, there-
fore, is handling the cases of married men who have been taken in
the draft. With other classes eliminated the proportion of these
men in any one dealer's territory who still owe money' on pianos
should be very small. It may be that through force of circum-
stances certain dealers will be called upon to bear more than their
share of the burden under a moratorium, but under present con-
ditions there seems to be little reason for actual worry.
That retail piano men have in many instances given thought
to possible action of this sort is indicated by the fact that a num-
ber of them have made a proposition to soldiers who are pur-
chasing pianos under contract that the instruments be stored by
the piano man during the period of the war, the amount already
paid to stand to the credit of the purchaser, who could take the
piano again upon his return and resume payments. Other dealers
have of their own accord offered to suspend the payments of ac-
counts by military men for the period of the war, the payments
to be resumed upon the return of the purchaser.
It will be well, however, for every merchant to analyze his
books and keep track of the liability of the purchaser for military
service, as well as of his financial condition. Such information
on hand in advance will save the piano man from any unpleasant
surprise, and enable him to make plans for his own protection in
the event that his proportion of the risk appears too heavy.
The sections of the Soldiers' and Sailors' Civil Rights bill
that are of special interest to piano men as affecting the in-
stalment business are as follows :
a first deposit or instalment of the purchase price from a person
who after the date of payment of such first deposit or instalment
has entered military service shall exercise any right or option
under such contract to rescind or terminate the contract or re-
sume possession of the property for non-payment of any instal-
ment falling due during the period of such military service, ex-
cept by action commenced upon due notice to the person paying
such first deposit or instalment or to any other person holding
possession of the property on his behalf.
"(2) Upon the hearing of such action the court may order
the repayment of prior instalments or deposits, or any part
thereof, as a condition of terminating the contract and resuming
possession of the property, or may, in its discretion, on its own
motion and shall, on application to it by such persons in military
service or some person in his behalf, order a stay of proceedings,
unless in the opinion of the court the defendant is not embar-
rassed by reason of his military service, or it may make such
other disposition of the case as may be equitable to conserve
the interests of all parties.
"Defaults.—(1) In every action or proceeding commenced in
any court, if there shall be a default of appearance by any de-
fendant, the plaintiff shall, before being entitled to enter a judg-
ment upon such default, file in such action or proceeding an
affidavit stating of his own knowledge that such defendant is
not in military service; if the plaintiff cannot make such affidavit
he may instead file an affidavit stating that he has no such knowl-
edge and file an affidavit of some person having knowledge of
the fact that such defendant is not in military service. Upon
the filing of such affidavit or affidavits the plaintiff shall be en-
titled to enter judgment.
"(2) Any court officer who shall, without requiring the
affidavit or affidavits above provided for, enter a judgment
against any defendant being a person in military service on whose
behalf an appearance has not been entered shall be guilty of a
misdemeanor and shall be punishable by imprisonment not to
exceed thirty days or by a fine not to exceed $500, or both.
"Evasion.—Where in any proceeding to enforce a civil right
in any court it is made to appear to the satisfaction of the court
that any interest, property or contract has since the date of this
act been transferred to a person in military service with intent
'by the transferrer to delay the just enforcement of such right
by taking advantage of this act the court shall enter such judg-
ment or make such order as might lawfully be entered or made
if the transferree were not a person in military service.
"Duration of Act.—This act shall remain in force until the
termination of the present war by the treaty of peace, and for
six months thereafter, and no longer unless further extended by
act of Congress."
the national Government and its representatives are somewhat
prone to class musical instruments as luxuries when they are
aligned against products of a more materialistic sort.
These are big days for the country and likewise big days
for the business men of the country. While the activities of
the Government must be supported, yet it is well to watch those
activities for the purpose of protection in the event unnecessary
harm is inadvertently threatened to the industry through the
anxiety of those in power to overdo things.
three years for nothing. It was pointed out that the thousands of
dollars are lost every year because the dealers do not charge
interest.
There are dealers in Milwaukee who are charging interest
at the present time who have suffered little in the expansion
of their business from this very wise and sensible procedure.
A committee of fifteen has been appointed to study the question
and make an early report to the association so that all holiday
business transacted on the easy payment plan may have the
benefit of interest charges. No dealers will be forced to charge
interest, but it is easy to see that if the practice becomes general
all of them will fall in line.
The action of the Milwaukee trade is well worthy the con-
sideration of dealers in other cities. The matter of interest can
be made a factor in inducing purchasers to make larger payments
down, so as to close up their account in a shorter period.
HE question of charging interest on piano time sales en-
T
gaged the attention of the Milwaukee dealers at a meeting
of the local Association of Music Industries held last week, and
it was the unanimous opinion that it was high time music dealers
discontinued the practice of giving their customers the use of
their hard-earned money for periods of from six months to
U
psfu
mur/cal name
mt/ieWbr/d.
r
PIANOS
ORGANS
E5TEY PIANO COMPANY NEW YORK CITY
cy/ie pest prom
producerfgrthe
dealer JntneTrade.
THE MUSIC TRADE REVIEW
The Moratorium and Its Effect on the Music Trade
"Instalment Contracts.— (1) No person who has received un-
the matters now before Congress and which is of
O NE direct of interest
der a contract for the purchase of real or personal property, or
to the music trade is the proposition to de-
of lease or bailment, with a view to purchase of such property
clare a moratorium on the obligations of all soldiers and sailors
for the period of the war. In other words, action could not be
taken to collect on accounts owed by men in the service until
they had been discharged from the army and returned to civil
life. It is looked upon as a patriotic duty to protect the interests
of men in the righting forces while they are away, and although
any law enacted might be taken advantage of by some unscrupu-
lous person things could be so arranged on the whole as to cause
a minimum of inconvenience and loss on the part of creditors.
Just how far the piano trade will be affected by this law is a
question, and opinion is somewhat divided, although the majority
of those interviewed on the question seem to think that the actual
results may not be so serious as would appear at first glance.
In the first instance a great majority of those enlisted in the
various branches of the service are unmarried men, without the
home ties that would place them in the position of piano pur-
chasers. In cases where the single men have purchased pianos
on the instalment plan there will be frequently found people left
at home who are in a position to assume the obligations.
Those who have joined the service as officers receive for the
most part salaries that should enable them to continue their pay-
ments unless for some special reason they care to take advantage
of a moratory law. The chief trouble with the piano man, there-
fore, is handling the cases of married men who have been taken in
the draft. With other classes eliminated the proportion of these
men in any one dealer's territory who still owe money' on pianos
should be very small. It may be that through force of circum-
stances certain dealers will be called upon to bear more than their
share of the burden under a moratorium, but under present con-
ditions there seems to be little reason for actual worry.
That retail piano men have in many instances given thought
to possible action of this sort is indicated by the fact that a num-
ber of them have made a proposition to soldiers who are pur-
chasing pianos under contract that the instruments be stored by
the piano man during the period of the war, the amount already
paid to stand to the credit of the purchaser, who could take the
piano again upon his return and resume payments. Other dealers
have of their own accord offered to suspend the payments of ac-
counts by military men for the period of the war, the payments
to be resumed upon the return of the purchaser.
It will be well, however, for every merchant to analyze his
books and keep track of the liability of the purchaser for military
service, as well as of his financial condition. Such information
on hand in advance will save the piano man from any unpleasant
surprise, and enable him to make plans for his own protection in
the event that his proportion of the risk appears too heavy.
The sections of the Soldiers' and Sailors' Civil Rights bill
that are of special interest to piano men as affecting the in-
stalment business are as follows :
a first deposit or instalment of the purchase price from a person
who after the date of payment of such first deposit or instalment
has entered military service shall exercise any right or option
under such contract to rescind or terminate the contract or re-
sume possession of the property for non-payment of any instal-
ment falling due during the period of such military service, ex-
cept by action commenced upon due notice to the person paying
such first deposit or instalment or to any other person holding
possession of the property on his behalf.
"(2) Upon the hearing of such action the court may order
the repayment of prior instalments or deposits, or any part
thereof, as a condition of terminating the contract and resuming
possession of the property, or may, in its discretion, on its own
motion and shall, on application to it by such persons in military
service or some person in his behalf, order a stay of proceedings,
unless in the opinion of the court the defendant is not embar-
rassed by reason of his military service, or it may make such
other disposition of the case as may be equitable to conserve
the interests of all parties.
"Defaults.—(1) In every action or proceeding commenced in
any court, if there shall be a default of appearance by any de-
fendant, the plaintiff shall, before being entitled to enter a judg-
ment upon such default, file in such action or proceeding an
affidavit stating of his own knowledge that such defendant is
not in military service; if the plaintiff cannot make such affidavit
he may instead file an affidavit stating that he has no such knowl-
edge and file an affidavit of some person having knowledge of
the fact that such defendant is not in military service. Upon
the filing of such affidavit or affidavits the plaintiff shall be en-
titled to enter judgment.
"(2) Any court officer who shall, without requiring the
affidavit or affidavits above provided for, enter a judgment
against any defendant being a person in military service on whose
behalf an appearance has not been entered shall be guilty of a
misdemeanor and shall be punishable by imprisonment not to
exceed thirty days or by a fine not to exceed $500, or both.
"Evasion.—Where in any proceeding to enforce a civil right
in any court it is made to appear to the satisfaction of the court
that any interest, property or contract has since the date of this
act been transferred to a person in military service with intent
'by the transferrer to delay the just enforcement of such right
by taking advantage of this act the court shall enter such judg-
ment or make such order as might lawfully be entered or made
if the transferree were not a person in military service.
"Duration of Act.—This act shall remain in force until the
termination of the present war by the treaty of peace, and for
six months thereafter, and no longer unless further extended by
act of Congress."
the national Government and its representatives are somewhat
prone to class musical instruments as luxuries when they are
aligned against products of a more materialistic sort.
These are big days for the country and likewise big days
for the business men of the country. While the activities of
the Government must be supported, yet it is well to watch those
activities for the purpose of protection in the event unnecessary
harm is inadvertently threatened to the industry through the
anxiety of those in power to overdo things.
three years for nothing. It was pointed out that the thousands of
dollars are lost every year because the dealers do not charge
interest.
There are dealers in Milwaukee who are charging interest
at the present time who have suffered little in the expansion
of their business from this very wise and sensible procedure.
A committee of fifteen has been appointed to study the question
and make an early report to the association so that all holiday
business transacted on the easy payment plan may have the
benefit of interest charges. No dealers will be forced to charge
interest, but it is easy to see that if the practice becomes general
all of them will fall in line.
The action of the Milwaukee trade is well worthy the con-
sideration of dealers in other cities. The matter of interest can
be made a factor in inducing purchasers to make larger payments
down, so as to close up their account in a shorter period.
HE question of charging interest on piano time sales en-
T
gaged the attention of the Milwaukee dealers at a meeting
of the local Association of Music Industries held last week, and
it was the unanimous opinion that it was high time music dealers
discontinued the practice of giving their customers the use of
their hard-earned money for periods of from six months to
U
psfu
mur/cal name
mt/ieWbr/d.
r
PIANOS
ORGANS
E5TEY PIANO COMPANY NEW YORK CITY
cy/ie pest prom
producerfgrthe
dealer JntneTrade.
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