• Steinway & Sons’ net loss is $389,238 (or, by another account, $397,000).
  • Further reduction in Steinway & Sons piano prices; Model D grand pianos that sold for $1,700  now cost $1,300 (a 24% decrease).
  • Total advertising budget of Steinway is $59,565.
  • Frederick Vietor quickly gains the reputation of an effective decision-maker in the company, and will soon share responsibility and power with Theodore E. Steinway.
  • The National Guild of Piano Teachers organizes the First National Piano-Playing Contest, held in Steinway Hall.