The financial crisis meant that Charlie Satterthwaite and William Kirby both left the club. Satterthwaite, who scored 18 of West Ham's 38 goals, was transferred to Arsenal and Kirby returned to Swindon Town. West Ham also lost one of their most talented youngsters, James Bigden (Arsenal). William Barnes also moved to Luton, while Herbert Lyon was transferred to Brighton & Hove Albion.
West Ham also lost their goalkeeper, Fred Griffiths to New Brompton. In two seasons with the club, Griffiths kept 13 clean sheets in 48 league appearances. Griffiths was replaced by another international goalkeeper, Matt Kingsley from Newcastle United.
Syd King also recruited Charlie Simmons (West Bromwich Albion), Frank Piercy (Middlesbrough), Herbert Bamlett (Newcastle United), William McCartney (Everton), Jack Flynn (Reading), John Russell (Everton) and Jack Fletcher (Reading). The most significant signing was David Gardner, a defender who had played at the top level for Newcastle United. A great favourite with West Ham fans, he was appointed captain of the side. King also introduced, Billy Bridgeman, a local teenager, into the side.
Improvements undertaken at the Boleyn ground were not finished by the time the season started. Even so, 12,000 were able to watch the first home game against Millwall on 1st September, 1904. West Ham won the game 3-0 with Billy Bridgeman, scoring two of the goals.
The next home game was against Queens Park Rangers. This time the attendance was 14,000. However, the result was disappointing, with West Ham losing 3-1. The next visitors, Tottenham Hotspur, drew 16,000 people to the ground. Once again the result was disappointing, with the Hammers only getting a 0-0 draw.
West Ham did get a 4-0 victory against Wellingborough Town with Jack Fletcher getting a hat-trick. This was followed by a 2-1 win against Plymouth Argyle on 19th November, with Charlie Simmons getting the goals. This was followed by 9 successive defeats. This included being knocked out of the FA Cup by Brighton & Hove Albion.
The Irons returned to form on 28th January, 1905, when they beat Luton Town by 6-2. Christopher Carrick, who had just been brought into the team, scored a hat-trick. This started a good run of results and West Ham began to move up the table.
On 17th March, 1905, Matt Kingsley was seen to kick former Hammer, Herbert Lyon during the game against Brighton & Hove Albion. This caused a crowd invasion and a near riot took place before Kingsley was sent off and Lyon was carried from the field. It was the last game Kingsley played for West Ham and after completing his suspension he was transferred to Queens Park Rangers.
By the end of the season West Ham had climbed to 10th place in the league, scoring 48 goals in 34 games. Top scorer was Billy Bridgeman with 11 goals. Others who made a major contribution included Charlie Simmons (8), Jack Fletcher (7), Christopher Carrick (6) and Jack Flynn (4). West Ham also gave promising youngster, George Hilsdon, seven games, in which he scored 4 goals.