- Charles H. Steinway orders the reduction of Steinway & Sons piano prices. The price of a big concert grand is decreased from $1,800 to $1,400, by one fifth. By comparison, the price for a Steinway & Sons parlor grand is cut by more than one-third, from $1,150 to $750. (This decision to reduce piano prices will bring radical improvement of Steinway & Sons business within the next three years.)
- Steinway & Sons in New York sells 1,008 pianos; Hamburg Steinway Pianofabrik, 909 pianos.
- Ignacy Jan Paderewski returns to New York after 4 years of absence, ready to embark on the new century’s first musical season.