- “Music and Drama” publishes William Steinway’s response to John C. Freund’s report: “I, William Steinway, now the only surviving founder of the house of Steinway & Sons, New York, do hereby make the following categorical statement, to wit: That neither I, nor any member of the Steinway family ever became acquainted with Mr. A. Belmont. That not a single dollar, or any amount of money, has ever been loaned by him in the business of Steinway & Sons, or any of its members, nor were there any negotiations to that end ever thought of. That no person outside the Steinway family has or ever has had, directly or indirectly, the slightest pecuniary interest in the business of Steinway & Sons. Should the said editor or his alleged “informant” be able to prove to the contrary, I hereby agree to pay to him or them the entire amount of capital which can be shown to have been loaned to any of the Steinways by Mr. August Belmont, together with the alleged profits, which by this time amount to the snug little sum of $430,000.”
- On the same day, John C. Freund publishes the first ad in a long series, offering a $250,000 reward for any proof of Steinway-Belmont connection. (Such proof will never be submitted.)