- Opera management partnership Abbey, Schoeffel & Grau, contracted by Metropolitan Opera, files for bankruptcy. William Steinway assumes the function of the Reorganization Committee chairman, to save New York from being left without opera. William Steinway invests nearly $50,000 into this season’s opera production.
- William Steinway’s diary: “At 10 AM. Metrop. Opera House, hold Abbey Schoeffel+ Grau Limited Directors Meeting, Company having been organized and papers filed at Albany last Monday July 6th. […] I was elected President of Abbey Schoffel +Grau Limited”.