- Steinway & Sons introduces a new upright piano, model K Vertegrand, sold for $500.
- Steinway & Sons makes $400,000 net profit. Charles H. Steinway’s policies of offering new cheap pianos and reducing prices for the most expensive ones, have led to doubling of Steinway & Sons piano sales since the year of William Steinways death.
- Daimler Manufacturing Company begins to build the “American Mercedes”, a close copy of the German Mercedes-Benz car. The car is marketed mostly as a personal vehicle, even though several commercial vehicles (trucks and ambulances), have also been made. The “American Mercedes” cars will be manufactured until 1907.