- During the meeting of Steinway & Sons’ Board of Directors, Theodore E. Steinway resigns as the company’s president, explaining his decision with the statement that “Steinway & Sons needs a healthy president.”
- Henry Z. Steinway, age 40, becomes the new president of Steinway & Sons (and the youngest president in the company’s 102-year history).
- Having accepted the presidency of Steinway & Sons, Henry Z. Steinway immediately creates the position of the Chairman of the Board of Directors for his father.