- Steinway & Sons sells over 3,000 pianos.
- Steinway & Sons net profit is $528,790 (a grandiose improvement, compared to all previous years under Theodore E. Steinway as company president).
- Steinway & Sons sells the last of William Steinway’s undeveloped land lots in Astoria.
- The price of the most affordable Steinway & Sons product, a Steinway 40 Pianino, is $1,080; the company’s best-selling Model M grand piano costs $2,185.
- Paul H. Bilhuber retires from Steinway & Sons. Theodore “Teed” Steinway (trained by Bilhuber) becomes the company’s chief engineer. The eldest son of Theodore E. Steinway, Teed doesn’t care about becoming Steinway & Sons president, but aspires to design the perfect piano, and spends most of his time experimenting.
- In Hamburg, Steinway Pianofabrik has built only 10 pianos this year (faring worse under Allied occupation than under Nazis).