Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1860-09-07

the bone of mammoth overgrown wealth.
Stewart is this day worth from fourteen to
twenty millions of dollars He owns more
real estate than Astor. and If be lives ten yeaFs
longer, MIR. Stewart will be worth from eighty
to one hundred millions Of dollars.
In the year 1887, when all was gloom aud
confusion in the commercial world when tail-
ures were 50 common that the concern that
did not fail was regarded with astonishment:
when the banks all suspended. and merchants
begged of The Government mercy, and not t5
be forced TO ply their bonds and duties in spe-
ere, Stewart was as lively in the crash of com
metclai elements as a stormy petrel in a wild
hurricane Every body was breaking. Whist
did. the far-sceing Stewart do2 He reduced
his stock TO cost, and sold for those prices
Ginghams and such stnfs, th4t had been retail
ing for 81 cents per yard, he sold at 20 cents,
eaIicoes in the same proportion What was
the consequence? Old women who had stock
inged their gold and silver, marched to Stew.
arts to take advantage of the awful sacrifice
that unfortunate merchant was making, and
though they did not want the goods, yet, like
Mrs. Toodes, they might want 'en ono Of
these days Shen they conld not be had at
such unheard Of low prices. Stewart was
oveffan With cash. He took ihe same Irouey
received for goods sold al cost, went into the
markct, aI,d brought The same stsle of goods,
calicoes, etc, that he had sold for 10 per cent.
less than he obtained. La one purchase be
bought $4,000 worth Of silks, half cGsh. grd
half for sixty days, at sixty per cent. less than
the cost of the silks to import: On this ttana-
action he realized $4,000. During alT
that disastrous panic Stewart retailed every
day $4,000 worth Of goods While others all
around him were breaking, be was coming
money He was the father Of the Selling of
at Cost% He Vas the originator Of An idea
among retail dry goods dealers hat hKs saved
thousands Of meu from ruin and made foftunea
for tens Of thousands Of hambugs, by selling
off at cost"
Mr.. Stewart moved qaietly and calmly.
arnerg the tdniGItaous commercial elements 81
1887. i
In IS48 be moved to his present marble
palace. He had bought Washington Hall of
young ohm Coster, for $4,000 and for few
thousand dollars more two additional shuiId-
ings and lots on Broadway, corner Of Cham-
bers street Upon this magnificent site he
erected the present store. The whole cost of
the ground and the -palace erected did not
reach Ss300.000. To-day it would sell at auc-
ton for from $500 900 to 81 0,000s.
He paid PATRON Van Rensselaer, S450O00
for the metropolitan lIotaI and out-buiIdings.
It is now worth and pays an int4Iesf Of ten
per cent. Oh 81 100000. and would bring at
auction SS00.000. He owns nearly all Of
Blcecker street, between Broadway and his
present residence, and in fact owns more real
state than any other man in New York, ex-
'cpt it may be Mr.. Wm. b. Ast5r. But Mr..
Astor's income IS not so largs as Stewards.
In JAnIary, 1859, he was worth fourteen
Millions Of illar-! His sales at the store are
sl000000 annually. His profits exceed
S5Oo,0O0, OF witch he now, aud ever has re-
;eived, one-half.