Music Trade Review

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THE MUSIC TRADE REVIEW
PUBLISHED BY EDWARD LYMAN BILL, Inc.
President, C. L. Bill, 373 Fourth Ave., New York; Vice-President, J. B. Spillane,
373 Fourth Ave., New York; Second Vice-President, J. Raymond Bill, 373 Fourth Ave.,
New York; Secretary and Treasurer, August J. Timpe, 373 Fourth Ave., New York.
J. B. SPILLANE, Editor
J. RAYMOND BILL, Associate Editor
AUGUST J. TIMPE
Business Manager
Executive and Reportorial Staff:
APRIL 20, 1918
have found very little antagonism to the plan among piano mer-
chants. Once thoroughly understanding the trade acceptance
system, the piano merchant, as a business man, becomes con-
vinced of its logic, and its value is proven not only in strengthen-
ing his credit but in keeping his business house in order. The
man who really understands the trade acceptance system, and
still insists on the open book account, quite frequently has a
strong personal reason for his insistence on the old method.
Incidentally it may be remarked that the piano manufac-
turer who puts into force the trade acceptance method now, and
has it firmly established in his trade, is going to be able to
maintain that same policy when things return to normal, when
production is freer, and there are plenty of pianos for all the
retailers.
B. BXITTAIN WILSON, CARLETON CHACE, L. ML ROBINSON, WILSON D. BUSH, V. D. WALSH,
W I I . BRAID WHITE (Technical Editor), E. B. MUNCH, A. J. NICKLIN, L. E. BOWERS
Get the Liberty Bond Habit.
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LOCATED IN THE LEADING CITIES THROUGHOUT AMERICA.
NEW era in the export trade of the United States was
A
ushered in last week with the signing by President Wilson
of the Webb-Pomerene bill, which permits two or more exporters
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Departments conducted by an expert wherein all ques-
- Piann an A
tions of a technical nature relating to the tuning
j " ! l a U U allU
Tprriniral
p
a r e d e a l t w i t h t w fn b e
this paper. We also publish a number of reliable technical works, information concern-
lecnmcai
ing
which will be cheerfully given upon request.
Exposition Honors Won by The Review
Grand Prix
Paris Exposition, 1900 Silver Medal. .Charleston Exposition, 1902
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NEW
YORK,
APRIL
2 0 , 1918
= EDITORIAL=
HE Allied Music Trade Division of the Liberty Loan Com-
mittee, under the chairmanship of Julian T. Mayer, has
pledged itself to raise one million dollars in subscriptions for
the third Liberty Loan, and, as was the case with the second
Liberty Loan, the committee will probably find that the figure
set will be passed by a very liberal margin. Late reports, for
instance, state that the talking machine men, who make up a
section of the Allied Music Trades Division, have already sub-
scribed something over $200,000 with their drive just getting
under way.
There is no question but that the support given to the Lib-
erty Loan by the music industry will prove most impressive to
those who have the success of the loan and the welfare of the
Government at heart. It may mean' sacrifices, but those in whose
hands lie the destinies of the nation advise us that the greater
the sacrifice the sooner the coming of peace. The point is,
however, that the music industry has done itself proud on the
two previous loans and is due to make an even better record
this time. It is not only a mark of high patriotism, but is also
something to be placed before the powers at Washington, that
should win additional consideration for the music trade.
T
One Good Bond Deserves Another.
T is most gratifying to see the growth of the trade acceptance
I another
idea in the piano trade. Hardly a week passes now without
piano manufacturer announcing his conversion to the
cause. Bankers and business men have for years preached the
trade acceptance idea. They have talked before piano manu-
facturers and piano merchants on many occasions. They found
their arguments accepted as sound.and logical, but nothing was
done. Now, however, the ice is broken. Manufacturers have
taken the bull by the horns and insisted on the trade acceptance
method of settlement, and to their surprise, in some cases, they
to combine for foreign trade without infringing the anti-trust
laws. For years it has been impossible for American manufac-
turers to compete successfully with the manufacturers of other
countries, who have operated jointly, backed by their govern-
ments, thus presenting a strong wall of opposition to Americans
gaining a foothold abroad.
With the new Webb law in force our foreign competition
may now become national competition by individuals. This
means much. It means the development of the foreign trade
of this country along, lines that will enable us to maintain the
position of our manufactured goods in competition with those
of any other nation abroad. It is a move along the lines of
co-ordination and co-operation.
For some years the most strenuous efforts have been made
to have this Webb bill transformed into a law, and the National
Piano Manufacturers' Association, as well as all the leading com-
mercial bodies of the country, have proclaimed themselves in
favor of its passage, but somehow or other it has been side-
tracked session after session. Hence it is a source of rejoicing
that the bill is now on the statute books, and that American
manufacturers have a chance not only to fight for foreign trade,
but to fight with the necessary equipment.
World-wide happenings within the past couple of years
have demonstrated most impressively that united action is neces-
sary to attain any end desired, and this is particularly true in
the matter of the building up of export trade. An individual
manufacturer may do fairly well, but a number of manufacturers
working together can do much better. Owing to the Sherman
Act, combination of any kind among exporters was impossible
hitherto, but with the signing of the Webb bill, manufacturers
are given needed freedom of action that will mean much for
the country and its industrial advancement.
German Bondage—or Liberty Bonds—Which?
T
HE Government is considering seriously the suggestion made
by so many leading business associations of the country and
referred to editorially in The Review that income and excess
profit taxes may be paid in instalments at dates extending to the
end of the year.
Recent reports from revenue collectors indicate that the
Government may receive from income and excess profit taxes in
June much more than the $2,500,000,000 estimated. Some esti-
mates based on preliminary examination of returns filed ten days
ago run close to $4,000,000,000. If these calculations of big col-
lections are borne out by further examination of returns within
the next two weeks, it is said the Treasury Department may
recommend legislation to provide for instalment payments of
taxes probably on June 15, August 15 and October 15. The
Treasury decision in this matter, however, depends very largely
on the success of the Liberty Loan in the next week or ten days.
Internal Revenue Commissioner Roper was recently visited
by a large delegation of business men who advocated his approval
of the system of instalment payments to ease the financial burden
on business in June. They came away with Mr. Roper's promise