Music Trade Review
Issue: 1918 Vol. 66 N. 18 - Page 11
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
MAY
THE
4, 1918
MUSIC
TRADE
REVIEW
ily that is not in touch with the brighter side .of
city life, and so we can figure the piano as part
F. Owen French Tells of Prosperity of Musical of the farm equipment. Jesse French & Sons
Instrument Trade in the Antipodes—Greatest and Lagonda pianos were in great evidence at
the show, and I am pleased to say that they were
Difficulty Is Getting Shipments
highly appreciated, and the next few weeks will
In a letter to The Review F. Owen French, see many of them being placed in the rural dis-
of Sydney, Australia, and Australian representa- tricts of this country.
tive of the Jesse French & Sons Piano Co., who
"There is no need to enlarge on the diffi-
by the way spent some months in the United culties experienced in the way of shipments
States last year, offers a most encouraging re- from America or anywhere else, and the great
disadvantage of this export business is the mak-
ing of special Colonial models, and having them
as dead stock on the factory floor on account
of the inability of the shippers to get space.
"A growing interest is manifested in the play-
er-piano, and when one considers the present
high cost, it is astonishing the number that are
sold.
"Australians have been watching with keen in-
terest the entry of America into the war, and
are expecting to see big things done by her.
When America has as many men as Australia
(comparatively speaking) in this great war, she
will have an army of over ten million men, and
you must remember that every man that has
gone from this island Continent is a volunteer
soldier. The true British spirit is as alive to-
day as ever it was."
11
THE PIANO TRADE IN AUSTRALIA
F. Owen French
vue of the business situation and particularly
music trade prospects in that country. Mr.
French says in part:
"The piano business in Australia is still
good, and in spite of war conditions there is a
very evident state of prosperity. The past sea-
son has been a very productive one for the
farmers and good crops have been reported
right through the covintry, and as Australia is
strictly an agricultural country, everybody is
feeling the benefit. This is Easter week in
which the Sydney Royal Show is held; this is
the farmers' mecca for the time being. The
show represents a huge competitive exhibit of
every branch of agriculture from fat beef to
honey. There are also many non-competitive
exhibits for the benefit of the farmer, such as
engines of all descriptions to lighten the labor
of the toiler and pianos and player-pianos to
brighten the farmer's home and make it a place
loved and cherished by his growing family. The
Australian farmer seems to realize that music
in the home is necessary for the growing fam-
CHARACTER
"Admirable Quality; Acknowledged Reputation"
—{Standard Dictionary)
PIANOS
Manufactured by
Smith, Barnes
and
Strohber Co.
have for 33 years
justified their right
to be called
Pianos of Character
FACTORIES
North Milwaukee, Wis.
Chicago, 111.
OFFICE
1872 Clybourn Avenue
Chicago, 111.
Christman
Pianos
Players
Grands
are exceptionally good.
RULINGS ON INSTALMENT BUSINESS
Internal Revenue Commissioner Hands Down
a Decision of Paramount Importance to Piano
Merchants Selling on Instalments
WASHINGTON, D. C, April 29.—One of several
rulings just handed down by Internal Revenue
Commissioner Roper affecting income and ex-
cess profit taxes is of exceeding interest to piano
merchants, in which he holds that dealers in
goods sold on the instalment plan shall return
their profits proportionately as the gross profits
stand to the gross contract price. Of course
this new ruling applies to the business of 1918,
on which the income tax returns will be made
next year. The decision as to installment selling
follows:
"It has been ascertained that dealers in per-
sonal property who sell on the instalment plan
adopt one of four ways of protecting themselves
in case of default, namely:
"1. A provision that title is to remain in the
seller until the buyer has performed his part of
the agreement.
"2. A conveyance of title to the purchaser sub-
ject to a lien for the unpaid portion of the pur-
chase price.
"3. The conveyance to the purchaser and an
immediate reconveyance by way of chattel mort-
gage to the seller.
"4. Conveyance to a trustee in trust to hold
the title, pending performance of the contract
and subject to its provisions.
"In view of the fact that in a number of States
it is held that the form first mentioned shall not
be enforced according to its terms, but will be
regarded as a sale with a chattel mortgage
back to secure the unpaid purchase price, it is
desirable that a uniform rule be established
which will be equitable and applicable to all.
"The rule prescribed is that in the sale or con-
tract for sale of personal property on the instal-
ment plan, whether or not title remains in the
vendor until the property is fully paid for, the
income to be returned by the vendor will be
that proportion of each instalment payment,
which the gross profit to be realized when the
property is paid for bears to the gross contract
price. If, for any reason, the vendee defaults
in his instalment payments and the vendor re-
possesses the property, the entire amount re-
ceived on instalment payments less the profit
originally returned will be income to the vendor
to be so returned for the year in which the
property was repossessed.
"This ruling amends Articles 117 and 120 of
Regulations 33, Revised, and revokes all previ-
ous decisions and rulings which are in conflict
herewith."
T h e y are w e l l c o n -
structed, of splendid
design and have a tone
of remarkable purity
and power.
You can sell them to
your best customers
with a feeling of pride,
knowing that they will
give lasting service and
satisfaction.
Your own sense of value
will quickly convince
you that
Christman
Pianos
are absolutely the high-
est grade and most ar-
tistic instruments to be
had for the price.
Why not make some
money this Summer and
Fall by securing the ex-
clusive agency?
Prices and Terms Upon
Request
"The first touch tells"
Christman Piano Co.
597 E. 137th Street New York
MAY
THE
4, 1918
MUSIC
TRADE
REVIEW
ily that is not in touch with the brighter side .of
city life, and so we can figure the piano as part
F. Owen French Tells of Prosperity of Musical of the farm equipment. Jesse French & Sons
Instrument Trade in the Antipodes—Greatest and Lagonda pianos were in great evidence at
the show, and I am pleased to say that they were
Difficulty Is Getting Shipments
highly appreciated, and the next few weeks will
In a letter to The Review F. Owen French, see many of them being placed in the rural dis-
of Sydney, Australia, and Australian representa- tricts of this country.
tive of the Jesse French & Sons Piano Co., who
"There is no need to enlarge on the diffi-
by the way spent some months in the United culties experienced in the way of shipments
States last year, offers a most encouraging re- from America or anywhere else, and the great
disadvantage of this export business is the mak-
ing of special Colonial models, and having them
as dead stock on the factory floor on account
of the inability of the shippers to get space.
"A growing interest is manifested in the play-
er-piano, and when one considers the present
high cost, it is astonishing the number that are
sold.
"Australians have been watching with keen in-
terest the entry of America into the war, and
are expecting to see big things done by her.
When America has as many men as Australia
(comparatively speaking) in this great war, she
will have an army of over ten million men, and
you must remember that every man that has
gone from this island Continent is a volunteer
soldier. The true British spirit is as alive to-
day as ever it was."
11
THE PIANO TRADE IN AUSTRALIA
F. Owen French
vue of the business situation and particularly
music trade prospects in that country. Mr.
French says in part:
"The piano business in Australia is still
good, and in spite of war conditions there is a
very evident state of prosperity. The past sea-
son has been a very productive one for the
farmers and good crops have been reported
right through the covintry, and as Australia is
strictly an agricultural country, everybody is
feeling the benefit. This is Easter week in
which the Sydney Royal Show is held; this is
the farmers' mecca for the time being. The
show represents a huge competitive exhibit of
every branch of agriculture from fat beef to
honey. There are also many non-competitive
exhibits for the benefit of the farmer, such as
engines of all descriptions to lighten the labor
of the toiler and pianos and player-pianos to
brighten the farmer's home and make it a place
loved and cherished by his growing family. The
Australian farmer seems to realize that music
in the home is necessary for the growing fam-
CHARACTER
"Admirable Quality; Acknowledged Reputation"
—{Standard Dictionary)
PIANOS
Manufactured by
Smith, Barnes
and
Strohber Co.
have for 33 years
justified their right
to be called
Pianos of Character
FACTORIES
North Milwaukee, Wis.
Chicago, 111.
OFFICE
1872 Clybourn Avenue
Chicago, 111.
Christman
Pianos
Players
Grands
are exceptionally good.
RULINGS ON INSTALMENT BUSINESS
Internal Revenue Commissioner Hands Down
a Decision of Paramount Importance to Piano
Merchants Selling on Instalments
WASHINGTON, D. C, April 29.—One of several
rulings just handed down by Internal Revenue
Commissioner Roper affecting income and ex-
cess profit taxes is of exceeding interest to piano
merchants, in which he holds that dealers in
goods sold on the instalment plan shall return
their profits proportionately as the gross profits
stand to the gross contract price. Of course
this new ruling applies to the business of 1918,
on which the income tax returns will be made
next year. The decision as to installment selling
follows:
"It has been ascertained that dealers in per-
sonal property who sell on the instalment plan
adopt one of four ways of protecting themselves
in case of default, namely:
"1. A provision that title is to remain in the
seller until the buyer has performed his part of
the agreement.
"2. A conveyance of title to the purchaser sub-
ject to a lien for the unpaid portion of the pur-
chase price.
"3. The conveyance to the purchaser and an
immediate reconveyance by way of chattel mort-
gage to the seller.
"4. Conveyance to a trustee in trust to hold
the title, pending performance of the contract
and subject to its provisions.
"In view of the fact that in a number of States
it is held that the form first mentioned shall not
be enforced according to its terms, but will be
regarded as a sale with a chattel mortgage
back to secure the unpaid purchase price, it is
desirable that a uniform rule be established
which will be equitable and applicable to all.
"The rule prescribed is that in the sale or con-
tract for sale of personal property on the instal-
ment plan, whether or not title remains in the
vendor until the property is fully paid for, the
income to be returned by the vendor will be
that proportion of each instalment payment,
which the gross profit to be realized when the
property is paid for bears to the gross contract
price. If, for any reason, the vendee defaults
in his instalment payments and the vendor re-
possesses the property, the entire amount re-
ceived on instalment payments less the profit
originally returned will be income to the vendor
to be so returned for the year in which the
property was repossessed.
"This ruling amends Articles 117 and 120 of
Regulations 33, Revised, and revokes all previ-
ous decisions and rulings which are in conflict
herewith."
T h e y are w e l l c o n -
structed, of splendid
design and have a tone
of remarkable purity
and power.
You can sell them to
your best customers
with a feeling of pride,
knowing that they will
give lasting service and
satisfaction.
Your own sense of value
will quickly convince
you that
Christman
Pianos
are absolutely the high-
est grade and most ar-
tistic instruments to be
had for the price.
Why not make some
money this Summer and
Fall by securing the ex-
clusive agency?
Prices and Terms Upon
Request
"The first touch tells"
Christman Piano Co.
597 E. 137th Street New York
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