- Henry Z. Steinway reports to Steinway & Sons stockholders that the company’s piano sales have increased by more than $500,000, making it profitable again.
- Henry Z. Steinway also requests the stockholders’ approval for allocating $1,300,000 budget, to add 200,000 square feet to the Riker factory (according to Henry Z. Steinway, that would allow to close and sell factory buildings at Ditmars, and to reduce cost, while simultaneously increasing the production by 20%, which would in turn lead to higher profit without rising the piano prices). The stockholders approve the president’s request.