The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-11

For the past seven years, IN consequence " "p"o1
health, my intercourse with Mr.. Stewart has not been
80 frequent formerly, and consequently am not
able TO recall incidents connected with tho
later years OF his life l may mention as
circumstance that to-day went out 70 mako three or
four calls with my daughter and was to have been
ON Mr.. Stewart / was aware that he had been III
for some time but 1t was only when arrived at his
house that learned he was dead can form no clear
estimate Of his wealth now Formerly was familiar
with all Of his private affairs, but his wealth Is
varously estimated al from $40 0oo 600 500 0O0
and would not be able to strike . happy medium"
PETER cooPERs OPINION or rug DEAD MERCHANT
HERALD reporter called upon Mr.. Peter Cooper and
found the venerable phanthropis engaged In dstrio-
utng little sums Of money among host Of penniess
applicants for assistance who, seems, daily inest
his residence sMr. Cooper" said the reporter, 1.-The
opinion oil man who has been long engaged in
busirsss enterprises In the city yourself touching
the qualities Of Mr. Stewart must be OF considerable
value, and the pubic would like 10 hear IT. !"
81 have just heard OF Mr.. Stewards DEATH said Mr.
Cooper, land sincerely deplore it. think that he
was essentially the business Of his time and that
IN all the parts that make up successful merchant he
was gifted beyond comparison He did not, like many
people who have accumulated large fortunes relax his
energy and from past achievements draw augurics Of
successes in The future. Ho assured them by giving
them as constant attention he had bestowed
on those preceding them. Diligence and enterprise
were qualities which characterized his career through
ie and abided with him TO tho moment OF his DEATH
His mind and habits trained in certain groove, be-
came SO attuncd TO tho pursuit OF business that 1t
afforded him the enjoyment other men might
seek In recreation. / think that, beyond
most mon, Mr.. Stewart been In
strumental in making city great
emporium and In Introducing proper method into the
mercantile habits Of Its people BY aboishng tho
custom Of unsta.ed and establishing given price
Tor given article he put end system Of petty
impositions which had been long In progress, and
he saved purchasers from tho annoyance
to which they wcrc formerly subjected
l think that his action, in this
matter tended TO establish regular rate In oil retail
transactions and SO did away with cnafrcrng and all
tho narrowing grievances that attended bargaining
Mr. Stewart benefited the city also in his immense
dustriai enterprises which gave employment to thou
sands and which kept the channels OF trade froe when
they impeded elsewhere"
ITO what do you principally attribute his business
success 2" asked tho reporter.
ITO diligence, first Of ALL" Mr.. Cooper answered
sTo attention all the details OF his business
and his foresight In providing for that
might arsc But Of all is he indebted for success
TO his principle OF buying and selling for cash. That
principle kept him always a safe basis
OF operation and afforded HIM the power Of
directing the bulk OF his great resources to
any object no sought TO attain Spcculatons and un-
safe dealings he generally eschewcd and never incur
ring debts himself he framed his business system on
the strIctest prncipea In that way he never ven
turcd beyond his depth, and was, consequently,
always secure,
Mr.. Cooper then went on 10 speak Of Mr. stewards
system in his establishments the strict discipline
he exactcd Of hts employees "Uncc." said he II met
Mr. Stewart in his uptown store. and while convers-
Ing with him about tho magnitude of his business hc
took mo by tho arm, and, pointing at the
great array Of saesmcn cash boys and portcrs, he
asked me II they did not display evidence of thor
ough training and intelligent acquaintance with the
peculiarties Of human nature l. OF course nssentcd
And yet" said hc ''not Of them has discretion
They arc simply machines, working in a system which
determines all their actions" And SO Mr.
Stewart managed all his business affairs
Method and regularity tho first considerations he
gave his attention to-" In relation to the effect OF Mr.
Stewards death business the phanhropist said that
he fanccd It could In no way affect It. The merchant
prince very far seeing and no doubt had antcI-
pated and provided for all contingencies that might
arise In case or his demise. When questioned
about Mr.. Stewards phianthropic schemes Mr.
Cooper said that he thought him who cherished
the best intentions with regard to the good OF the pco
pie, but who perhaps had deferred carrying
on some OF them out OF doubt OF thor
being practical He ins,anced tho workingwomc
Hotel in Fourth avenue, which he thought
was not carried TO completion, account of tho
schcme's lack of feasibility Hut he had heard that
Mr. Stewart had in progress the establishment OF vari
industries which would supply profitable work for
hundreds and this was an object greatly be sought"
Mr. GRswoLD on MR.. STEWARDS PLANS
Mr. Griswold, OF tho Fifth Avenue Hotel in an intcr
view with reporter stated that ho has for long
time enjoyed the acquaintance Of Mr. Stewart and he
thinks that no man has contributed so much to pro-
mote the commercial activity Of New York. and no one
has succeeded in drawing 10 the city so much trade
and 30 much money. He SAID that the business sys-
tenn OF Mr.. Stewart admirable. The strictest
method always established and vigorously carried
out Only men of sterling value placed in charge
OF departments, and these Mr. Stewar; maintained
personal supervision until their grade of capacity was
determined Mr. Griswod thon referred to the Garden
City project which had resulted most satisfactorily
ami stated that Mr. Stewart had intended to establish
factories there, which would supply further of
competency to the residents Large manufactures too
were In of construction up tho Hudson,
which when completed would, doubt tend 10
diminish paupcrism in and about New York, and raise
barrier against the dcstitution which threatened
many unemployed families Tho Working
womcn's Hocl schcmc. he said, had not
been abandoned, reported Mr.. Stewart
always cherished hope OF making 1t
reality and had arranged meet Judge Hilton take
for pushing It forward UP to tho very hour
and day when he died Mr. Grswod said that the rend.
ing OF the will OF American has ever been looked
forward with much interest that Of Mr. Stew
art and he limited that people will be surprised when
they learn what real aud substantial sympathy the
great business man had for deserving charities
AT Mr.. STEWARDS PLACES OF BUSINESS.
As soon the sad intelligence Of tho death OF Mr..
Stewart reached his two stores all business in
stanty suspended, and IN a few minutes tho windows
and doors were closed and the curtains drawn. Mr..
Libby, ono OF the members OF the firm, was AT tho
down town or wholesale establishment when the
news arrived, and was quito Frustrated by the