- Steinway & Sons makes $400,000 net profit, the same as in 1904. Roughly 50% of the profit comes not from the United States piano sales: $70,000 from Hamburg, $69,000 from the sale of Long Island real estate, $32,000 from London, and another $32,000 from piano rentals.
- Charles F. Tretbar retires to Germany after 40 years with Steinway & Sons. Ernest Urchs assumes some of Charles Tretbar’s duties, and begins, in addition to his responsibilities as the general wholesale representative for Steinway & Sons, to handle also the company’s Concert and Artists department.