Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1860-10-12

when fa;lnres we,a ' =. oV oo' wo'.I
eoncorn no, a;s ~ ~ s ey'''l'on 'ua' ,hs I,
with ,ston;shmoa. S ST. ,an was fegnrueu
in tbo cr,ah 81 aa,',., sss"a,s "as Us i'Veis
: stormy no,rol j. LA L. o.o'ien's .,s
crybody was breaking WIat 4V dia NV
farseeing Stewart do? He reduced h;s
stock to cost and sold for those nr;ces
4 Old women who had stoclinoed tbc;y cold
and silver marched to Stewards TO tal1
advantage Of the awful sacrifice that nm
fortunate merchant was making: anf
though they did not want the goods ve
like Mrs. Toodles, thew might : wapt'eu
one of these DAYS. p when thew could no
be had at such low prices.
| Stewart was oyerrun with cash. III
took the same money received for se5d
sold at cost. went into the market. ant
bought the same style of goods that h,
had sold for 40 per cent, less than h,
had obtained! During all that disastrous
panic Stewart retailed every day SIS, 00(
worth of goods. While others all around
him were breaking. he was coming mo.
ney. He was the father of {" Selling of
at Cost" He was the originator of an
idea among retail dry goods dealers that
has saved thousands of men from ruin,
and made fortunes for tens of thousands
of humbugs, by " selling off at cost"
Mr.. Stewart moved quietly and calmly
among the tunultuous commercial ele-
ments Of 1887.
In 1913 he moved to his present mar
BILE palace. He had bought Washington
Hall Of young John Coster for $50, 900,
and for few thousand dollars moro two
additional buildings and lots on Broad
way, corner of Chambers street. Upon
this magnificent site he erected the pre-
sentstoro. The whole cost of the ground
and the palace erected did not reach
$500, 900. To-day it would sell at auc-
ton for from $500, 900 to 81 900, 600.
He Maid PATRON Van Rensellaer $50
| 900 for the METROPOLITAN Hotel and out.
buildinps II Is now worth and pavs an
interest Of ten Der cent, on al 100000.
and would bring at auction $500 .0OO.- -
| He owns nearly all of Blocker street,
between Broad and his present resi-,
dence. and in fact owns more real estate
| than auy other man in New York. excepi
liz NAV Be Mr.. VIM. b. Astor. But Mr.,
! Astor's income is not SO large as Stewards
7, J.n,arv 1880 be wos worth fo,,.
toon millions of dollars u;s sa,es q,
ho store ore e1o ooo 600 annnalIv
nj. nvaT;,s exceo5 esoo too nf ,gb;o,
be now and aver has received ons balf
uo lives moderately and opietlv His
bouse vas hu;lt nv Dcnau Int cost Stew.
ar onlv twenty tbousand dollars
uo married Miss Clincb n sister q,
Mr. Clinch Of the grocer firm Of Town
ssna Cl;ncb a. DIXIE They have M
ch;ldron Sounoateptatious l. Mr. stow.
at IN Tia rel;o;ous oninions .hat faw
| Lnow whether he Is Co,bolic or Pro.
tas,,nt
NJ ctowort ,;vos mainly and ;s very
s;mrio r. IL babi,s TJe neyer snlurees
aad ao.a - -, e. e,sb;onaIlo soc;ety
- ~ go, $50 H., ,he ~, haIi, bas A., 4 K,
noa a., no,g IA ,hon a;ycs !, orsa,
l;nuass nor,u and liz aros,s 49, fonn,
san hs.an,;,l oo,n,aa.o;al ,on =
a;a aao, saa AN. caomar,,s AN
n,s ! as-,,;,.o = &c aol;d la IT.
nOa' IA sa' doe e, n,,so,s,;n a a
o"" A. go 800 !" - - ~ 90 =
~ 60 I:e"a'I la - a. y IT, s, 10 on
~, Uaaau m,eu y A. s,aw:r 49, !. ,n or
l;kolv 10 live 10 he one hundred tba,
either Girord or Astcr at sixty four wer
l;kelv 10 live 70 ninety
In 1895 M stewart was worth ON
million fve bundred tbousand dollars
Un has overaged from that time 10 III,
nrssent ! business 81 four millions
Year for twenty wears mast. His profit
have boon fftccn per cent: that Is. 81,
hundred thousand dollars por wear. o.
fonrloon millions dollars Ills half shar,
i eovon m;lI;ons two hundred thousaut
dollars. add the compound interest Il
that and 10 his orioinal capital In 1896
and d reaches fourteen millions of dol.
lara Tho rise Of real estate owned b,
NJ stewart over the nrice paid. is. IN
1850 over five millions: and do moi
believe dial he i worth less to-day than
eighteen or twenty millions Of dollars,
and LARGO norton Of il is ia real estate
| that d ranidly rising in value. / stated
few lines back that in ten years Mr..
steward would be worth one hundred
millions Of dollars. will now prove it.
! IT;. troinoss to-dov i eiobt hundred
a. ansonG dollsrs vcsr rroG, 10 himself
r. ton yoars If commando interest Ter
milIians Add 10 tbat seven per cent.
Or twenty milI;oas. and compound inter.