October 4, 1873

William Steinway’s diary: “Bk. of the Met. very strong, tell me that we can have all the Greenbacks we want. […] Arrange carefully with Albert & Kroeger how to reduce stock & draw in our horns” This diary entry requires interpretation: the Bank of Metropolis, still strong, despite the worsening financial panic, tells William Steinway that Steinway & Sons can have all the one-dollar bills the company may need. William Steinway meets with his brother Albert and the longtime employee Henry Kroeger, discussing how to out-wait the economic depression by reducing the inventory.