- Judging by the Steinway & Sons warranty work expenses, the company is building better pianos than 15 years previously. Warranty expense, that had always been insignificant (less than 0.5% of revenue) has decreased to less than 0.25%. Unfortunately, the situation will soon worsen because of the introduction of Teflon (“Permafree”) bushings.
- Frederick Steinway voices the idea of stenciling just “Steinway” on pianos, instead of “Steinway & Sons”. His idea is rejected flat-out by his brother Henry Z. Steinway and Roman de Majewski.
- Frederick Steinway also suggests that Steinway & Sons borrow money from a bank to open a foundry in Connecticut. Henry Z. Steinway, happy that the company doesn’t owe anything to any bank thanks to his effort in consolidating the production, rejects his younger brother’s idea.