The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-26

.Reinyest it here and live on the income"
You can do better"
.Go INTO trade"
"Nonsense; know nothing about trade. have a
horror of trade. can't even buy hat or PAIR OF
gloves without getting some one to pick them out
for me-"
do as tell you. Go to Belfast, buy Insertions ana
scaop trimmings. Spend all your money In them,
and youh double your money"
''lf ever buy these goOds,n said Mr.. stewart,
.'you shall have all the prOlts.n
Mr. stewart went to Ireland. 1t was forty days
voyage. There was only one cabin passenger beside
himself, and on the fare OF dry biscuit ana
musty bread they liked to have starved But AT
length the voyage ended, he reached his native
It was only $4,000, hail the expected sum. The
guardian, as guardians are given TO do IN these
days had speculated on hls wards money soa ana
High street he recalled his conversation
with Mr.. Chambers 1t occurred TO him
that he had not the remotest idea what eltner inser
lions or scailOp trimmings were. seeing small
store and woman behind the counter ne went H.
'Do you keep Insertions he quietly asked.
"Yes, sur" politely answered tue snopwoman.
"Here Is sO1ne," and she handed Nun piece, WHICH
he proceeded to examine.
'"l'll take quarter OF yard;' and this quantity
was quickly severed from tue piece. very similar
dialogue ensued IN regard to scallop trimmings and
with the same result Mr.. stewart puying quarter
OF yard OF this also. Mr.. Stewart now saw what
Insertions and scali0p trimmings were IL occurred
to him that he had not gone TO work, however, IN
exactly the right way to carry out the plan OF Mr..
Can Won sell me these goods any cheaper II BUY
considerable quantities OF eachf" he inquired OF the
shopwoman.
"a thousand poands' WORTH"
'.Oh my, sir; you had better go TO Mr.. WOrkmans,
the manufacturer" said the shopwoman, and she
To Mr.. WorKman's Mr.. Stewart went. His Fl, 200
was exchanged for insertion and scallop TRIM
mings. Mr.. Stewart soon arrived IN New York,
bringing with him the product Of his purchases.
Invested my patr,mony as YOU wished me to-"
said MIR. Stewart to Mr.. Chambers
.'YOu have done just The thing" spoke up MIR.
Chambers, with lively burst OF enthusiastic JOY.
scarcely any Of these goods are IN the market.
paid for them. Where are the goodsf''
brought them on the ship with me.'
Lucky; Wen open store at once"
"Who do you mean by wes"
'You and win be partners, Of COURSE"
Not at oil !" answered Mr.: Stewart; you sell the
goods bought, pay me back my 5000. and that's
all | ask or expect. bought them for your accom-
modation and not to make anything for myself"
IS not 70 s1en o anytSaS H s San
sharing the profits with Mr.. Stewart. He insisted
further that they should open store together and
that Mr.. Stewart should be the salesman, while he
would buy other goods at auction for the establish
ment This programme OF business finally agreed
looSed through Pearl and Hudson streets. the great
centres then OF the retail trade, but could find no
place to suit them, the principal objection being the
high rents asked. Finally bill "To let" upon the
door OF No. 2SS Broadway attracted their notice. The
rent on inquiry was found 10 be 1915 year. For
some time they pondered over the expedency Of as.
Stunning such high rent. The man who had Just va
Gated the place nad failed and this made them extra
cautious. They decided to take the store.
ENTRANCE INTO BUSINESS.
We have given with some prolixlty the above de-
tails they have never beensgiven to the public be-
which Mr.. Stewart entered into business that, in-
stead OF his selecting his own business, most men
do from prediction for 1t on the suppostlous be-
lief OF Its opening the way TO brilliant fortune,
on the contrary he had strong aversion to II,
which 1t was dliiicult to overcome and
that, as already stated he was launched
0iens rOtenS into busness-a business in It's subse
qnent development the most remarkable on record;
one in its progress calling into activity most mar.
ment of wealth unequalIed In the history OF modern
times. In the fall OF 1928 Mr. Stewart began busi-
bought goods for him Tor short time but never
became partner. The business was all his own.
This store was small, beng only twelve and half
his aptitude for business. lie had no knowledge Of
1t whatever when he began and did not know one
Kind of goods from another. He what bust
ness could De built up He saw the golden fortune in
store for him. lie bought only Inc best goods He
knew no plan Of business, but he made up plan
patience, perseverance, labor, honesty. His rule
was the Golden Rule. His motto was truth. He
carried out this plan and adhered to this rule and
cess. The cause of his success, he has been heard
TO say is his patient ploddlng. He saw his adapta
ton to his business and stuck to w. Work, work."
is his aconc advice 10 Others who would be success
full After remaining here three years he moved TO
No. 262 broadway. Increasing success followed him
here. He remained at this latter place three years
and then moved to No. 257 Broadway. His business
here continued to increase with the most astonish
ing rapldlty. He renamed here seventeen years.
E asv ff is9 " 4Ssss fortune was no"
S0vfNG INTO HIS MARBLE STORE. *9'
On September n, ls4e ne moved Into his large
marble store at the I'm h 81 r @na
house. Here trade continued TO increase beyond
parallel. 1t Is ditflcHlt to conceive its magnitude.
PING
portions. For years, 1t is well known, this was
the great retail store OF the city. The uptown tide
tic building for both his wholesale and retail trade
compelled him at length 70 put up new store
specially for retail purposes
HIS NEW RETAIL STORE.
This store finished but little over year ago,
and in reality 1t not completed yet, as tne two
buildings on the corner OF Broadway and Ninth
street preventing It's covering entlre block have
only recently been torn down, and the store being
enlarged TO the corner-wilh its acres of oors and
the millions dollars worth OF the rarest and rich
goods inlng IFS shelves and counters surpasses
| ything OF the kind in the world. It is unneoes
not to nave seen New York. What specially attracts
| notice here, as also at MS wholesale down towr
store is the perfect system that prevails IN the per
fectness OF order and despatch ana the peiectness
| OF It's administrative control.
| Mr.. STEWARDS WEALTH.
| Besides his two marble palaces on Broadway ant
| his magnificent mansion tneary completely on Fifth
avenue, the finest private residence IN this country
| and rvalllng IN extent, elaborate beauty OF 1nlsi
| owner OF an immense quantity offoher real estate
| IL would be useless 10 attempt to enumerate all o
his possessions He fs toe largest real estate owner
In the United states, Mr.. William b. Aston possDl!
l excepted.
l HIS CHARITIES.
| The orer mane by Mr.. IStewart after his appoint
ment secretary OF the Treasury OF his income 10
charitable uses electrified the world with astonish
| ment. The public knew nothing OF the wealth O
| charity deep hidden In his heart He has give
away tens OF thousands OF dollars annually for years
so quietly and unostentatlously have these charite
| been bestowed that the world has known nothnl
| OF them. In many cases the recipients OF his kind
| ness have little dreamed to whom they were In
| aebted. 1t has not yet been forgotten, and nethe
| will II soon be, how during the famine In Ireland
| he sent over a ship load OF PROVISIONS In carry
| ing ont this benevolent scheme he indulge
| IN pleasant caprice, and that was paying back I
| Ireland the amount OF his patrimony, with interes
| His recent great CHARITY giving away $1,000 900
| be expended In building Two grand hotels, one 10
| working young women ana the other for young met
| sinks into comparative inslgnincance all prevlou
| private contributions to charity in this countr.
| The nature VI these charities and their propose
| plan OF management have been elaborately set fort
| in the HERALD, and 1t Is unnecessary TO DESERT
| them now. They will be imperishaese monument