Music Trade Review
Issue: 1921 Vol. 73 N. 8 - Page 3
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE
REVIEW
fflJSIC TIRADE
VOL.
LXXIII. No. 8
Published Every^Saturday by Edward Lyman Bill, Inc., at 373 4th Ave., New York. August 20, 1921
W
HEN basic business conditions are good the music industry naturally prospers. Therefore the
announcement, based on careful investigation, that conditions in all sections of the country are
improving is to be accepted as an indication that prophecies of a substantial volume of piano,
talking machine and music business bid fair to be realized.
Statements collected last week from commercial organizations in all parts of the country express the
general feeling that the industrial revival will be well under way by Fall, although some were inclined toward
the belief that material progress will not be made in that direction before Spring.
Represented in the symposium were New York, Chicago, Boston, Bridgeport, Atlanta, Memphis,
Indianapolis, Milwaukee, St. Paul, St. Louis, Dallas, Denver and Portland, Ore.
"A better tone is appearing in the business world," declared William Fellowes Morgan, president of
the Merchants' Association of New York, who discussed the countrywide situation as well as conditions in
this district.
"Although few industries have yet benefited by an increased volume of business there are indications
that the country is beginning slowly to pull out of a serious business and industrial depression," he said. "The
crop outlook, with one or two exceptions, is good. Many of the railroads are reporting increased earnings,
rediscount rates of the Federal Reserve banks have been lowered and there are other indications of easier
money. Deflation in building materials is proceeding slowly. Coal production has declined somewhat.
"The large stocks of goods in the hands of merchants last year have now been greatly depleted,
making it necessary during the coming months for them to buy on a much larger scale.
"The combined effect of these various factors is producing a feeling of optimism and confidence among
business men and is resulting in a general improvement in business conditions."
That the "tide has turned in New England" was the statement of Melville E. Liming, secretary of the
Bureau of Commerce and Industrial Affairs, Boston Chamber of Commerce.
"There are evidences that the tide has turned in New England," he said. "Orders and inquiries are
coming in, and, while there is still plenty of room for improvement, a more optimistic tone generally prevails."
Other statements were:
Seward H. Price, secretary, Bridgeport Chamber of Commerce: "Business in this district is picking
up steadily. We ought to be tasting real prosperity before Winter."
Atlanta Chamber of Commerce: "Business in this section looks better to-day than in many months.
In practically every line conditions justify a more optimistic feeling for the Fall."
J. M. Walker, president, Memphis Chamber of Commerce: "Diversification of crops has saved the
South from bankruptcy and will mean prosperity for this section. Fall will witness a great revival in trade
and industry."
John B. Reynolds, secretary, Indianapolis Chamber of Commerce: "I believe conditions will begin
to improve in the Fall. However, it may be a year before business is wholly on a normal basis again. Some
factories are increasing their forces even now."
W. L. W r are, trade commissioner, Chicago Association of Commerce: "Fundamental business condi-
tions in Chicago point toward improvement in practically all lines. Recovery is noticeable in dry goods,
women's and men's clothing and building materials. The feeling is gaining strength each day that we have
reached the bottom of the period of depression and may now reasonably expect business to be very much
better this Fall."
F. W. Dickey, economist of First Wisconsin National Bank, Milwaukee: "With retail prices at a new
(Continued on page 5)
THE
REVIEW
fflJSIC TIRADE
VOL.
LXXIII. No. 8
Published Every^Saturday by Edward Lyman Bill, Inc., at 373 4th Ave., New York. August 20, 1921
W
HEN basic business conditions are good the music industry naturally prospers. Therefore the
announcement, based on careful investigation, that conditions in all sections of the country are
improving is to be accepted as an indication that prophecies of a substantial volume of piano,
talking machine and music business bid fair to be realized.
Statements collected last week from commercial organizations in all parts of the country express the
general feeling that the industrial revival will be well under way by Fall, although some were inclined toward
the belief that material progress will not be made in that direction before Spring.
Represented in the symposium were New York, Chicago, Boston, Bridgeport, Atlanta, Memphis,
Indianapolis, Milwaukee, St. Paul, St. Louis, Dallas, Denver and Portland, Ore.
"A better tone is appearing in the business world," declared William Fellowes Morgan, president of
the Merchants' Association of New York, who discussed the countrywide situation as well as conditions in
this district.
"Although few industries have yet benefited by an increased volume of business there are indications
that the country is beginning slowly to pull out of a serious business and industrial depression," he said. "The
crop outlook, with one or two exceptions, is good. Many of the railroads are reporting increased earnings,
rediscount rates of the Federal Reserve banks have been lowered and there are other indications of easier
money. Deflation in building materials is proceeding slowly. Coal production has declined somewhat.
"The large stocks of goods in the hands of merchants last year have now been greatly depleted,
making it necessary during the coming months for them to buy on a much larger scale.
"The combined effect of these various factors is producing a feeling of optimism and confidence among
business men and is resulting in a general improvement in business conditions."
That the "tide has turned in New England" was the statement of Melville E. Liming, secretary of the
Bureau of Commerce and Industrial Affairs, Boston Chamber of Commerce.
"There are evidences that the tide has turned in New England," he said. "Orders and inquiries are
coming in, and, while there is still plenty of room for improvement, a more optimistic tone generally prevails."
Other statements were:
Seward H. Price, secretary, Bridgeport Chamber of Commerce: "Business in this district is picking
up steadily. We ought to be tasting real prosperity before Winter."
Atlanta Chamber of Commerce: "Business in this section looks better to-day than in many months.
In practically every line conditions justify a more optimistic feeling for the Fall."
J. M. Walker, president, Memphis Chamber of Commerce: "Diversification of crops has saved the
South from bankruptcy and will mean prosperity for this section. Fall will witness a great revival in trade
and industry."
John B. Reynolds, secretary, Indianapolis Chamber of Commerce: "I believe conditions will begin
to improve in the Fall. However, it may be a year before business is wholly on a normal basis again. Some
factories are increasing their forces even now."
W. L. W r are, trade commissioner, Chicago Association of Commerce: "Fundamental business condi-
tions in Chicago point toward improvement in practically all lines. Recovery is noticeable in dry goods,
women's and men's clothing and building materials. The feeling is gaining strength each day that we have
reached the bottom of the period of depression and may now reasonably expect business to be very much
better this Fall."
F. W. Dickey, economist of First Wisconsin National Bank, Milwaukee: "With retail prices at a new
(Continued on page 5)
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