New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-03-06
SECRETARY OF THE TREASURY.
7. s1EwAn1 OF NEw.YonK.

.
Alexander T. Stewart, appointed to the important
post Of Secretary of the Treasury, IL known all over
fine country as a successful merchant and fnancicr.
He WAS born near the City Of Belfast In Ireland
,bont the year 1903. lie was Of ScotcITish eXtIac-
tion his ancestry being Of tho Scottish stock who
en,igrated many years ogo TO the North OF Ireland
and THENCE sent so many sturdy and successful rep
resentatives 10 the New World. Before Mr.. Stewart
was wear old both his parents died, and lie was left
without any near relatives except his maternal
grandfather n man Of great ploty. by Whom nome
was provided for the otherwise frendiess youth ana
the opportunity afforded him Of receiving liberal
education. Ii was the earnest wish OF IFS grlhd'
father That he should become minister OF the Cos
pel and with this purpose in view, he was NJ once
put upOn a course of academic study to prepare INN
for the University. lie always stood high III ms
classes and took his degree at Trinity College Dub
lin, before he had reached his twentieth
wear While he was at college his grandfather died.
aud Quaker friend was appointed his guardian,
through whom be obtained letters of introduction
from prominent members Of the Society Of Friends
in Ireland 10 leading merchants Of that Society in
this city, ITo Handed in Ncw-YoTk in 1925, being
then scarcely twenty years Of age, aud for brief
period after his arrival here was employed in teach
inc IIis letters Of introduction gave him access to
the best society in which his pleasing address and
fine attainments soon made him favofite. llc de-
tormiued to devote himself to ealing that would
he likely 10 insure better returns than the under
maid occupation 10 which he first gave his attention.
and in connection with an experienced business man
he entered upon mercantile pursuits. Where he was
TO bc merely q partner contributing part OF the
capital. he soon found himself alone, charged with
The responsibility of the whole business lie at once
went back TO Ireland. converted the fortune he
had inherited into money, and invested the WhOle
sum in goods principally Belfast laces, Win Whicb
he returned TO New-York aud opened his store. On
that openinc day an incident occurred which serves
to point out one Of the secrets of his great success
A clerk in making sale to a customer recommended
tho articles he was attempting TO dispose of beyond
their merits. but having. been overheard, he was
of,erward severely reprimanded by SIr Stewart Tor
soy;pg what WAS untrue. In after years he some
times related the incident as illustrating his MAXIM
that tbs true principle OF success Is founded upon
tho lass of truth His business increased 80 rapdIy
that in few years he had amused colossal lot
tnne and for every year of the nearly half century
that this city has been his home ruhOr circuits h,,
with the ACQUISITION Of a million OF doiiuS. iils
business is very large, and includes those OF re'c
iobber. importer and manufacturer, anu IL ~ uo"o
mon actual capital the whole machinery oe'i's
directed and controlled by the mind that created IT,
lie first did business in Broadway, near WMreh-S''
lint he afterward purchased the old washington,
Hall ON the site Of his down Town
store and erected in its place the bnlldfhg ~
Cbanbers.st. and Broadway, which he still occupies
and Which was the pioneer Of the marble structures
in that part of the great toroughfare Mr.. stewart
success in business has been the subject Oh mnch
comment. One of the pleasantest incidents III con
a.,o, ,iu that success is the story OF his goner-
osi,y =, n,oyidipg home for his first customer u
Jody who had said to him on the day preceding his
oncuing: "You must not sell ANYTHING until come
and mao tho first purchase. that ] may bring
uck. pbnt whom no afterward found III foreign Guy
in INDECENT circumstances. In lol.. "nen Tue it'ah
people were suffering from famine MI o'." u'' o""'
.a,nd an American shin, and flling it with American
,,,o,i,ons sent it TO Bofast'as M American giit 10
Tclerd Bnt the gift had onctbcrmeaning lie nad
,,,C,lly oscciiaincd the amount Of The fortune u"
bronghG with Lin, with tho interest ad"ra 70 H. '''
considering Ibis debt 10 the connty"i MS n'''"S'