- Steinway & Sons net loss is over $150,000.
- Steinway & Sons builds and sells 1,454 upright pianos and 1,411 grands.
- Over 1,100 Steinway & Sons workers in two shifts build glider components.
- Steinway & Sons letterhead now includes the slogan “Wings for Victory”, and a picture of a glider flying over the piano.
- The glider contract is not as lucrative as it has initially seemed. There are hidden costs: military bureaucracy adds clerical labor. Payment delays from general Aircraft Corporation force Theodore E. Steinway to not only use Steinway & Sons capital to finance the contract, but also borrow money from banks. By the end of the year he has invested almost $1,000,000 into the glider project.
- Steinway & Sons hires Edwin B. Orcutt, to replace Stuart B. Miller as the chief financial officer.
- Fewer than 150 people remain at work at the Steinway & Sons’ Hamburg factory.