The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1876-04-20
Death of A. T. Stewart,

In the death of Mr. A. T. Stewart, of
New York, the world has lost the most
distinguished merchant Of recent times.
Unlike most men who attain great wealth
in this age and country, he earned the
bulk of his fortune in mercantile pur-
suits. He was an Irishman by birth. He
was born in a town called Lisburn, in the
north of Ireland, in the year 1903. lie
was educated at Trinity College, Dublin,
and the earlier part Of his career was de-
voted to school teaching. He came to
New York city in 1928, and, after leach
ing school for a short time, he started a
retail dry goods store in Broadway. His
business increased steadily, until, for
many years back, he has owned and man
aged probably the largest dry-goods
house in the world. He built his down
town. store, corner of Chambers street
and Broadway, as early as 1913, and some
wears after erected another on the corner
of Tenth and Broadway for the retail
trade. His business has attained tabu-
ious proportions, and he passed through
three National panics-lS37, 1891 and
lS73-without being affected. He had
the wisdom in each case to forecaste the
crisis and prepare for it. In the panic OF
1887 il is said that he sold out his entire
stock some months previous to the crash,
and subsequently bought back large parts
of it at fifty cents on the dollar. He was
strict disciplinarian in the management
of his business, and an implacable rival.
HI has been frequently charged with uh-
fair practices in competition, but he him.
self attributed his success to rigid OBJ
scrvance of certain general principles
tW 0 Of which were never to misrepresent
any article of goods which he sold, and
never to depart from the prices which he
placed upon them.
Mr.. Stewart, however close and illlberal
he NAV have been in a business way, was
certainly magnificent in his charities.
During the Irish famine in 1S47 he char
tered ship, filled it with provisions, and
sent the cargo as gift to his counrymen.
After the Chicago fire he sent $50, 900 to
this city in money as his individual con-
tribution, to be distributed among the
Door sewing women who were among the
sufferers. One of the best practical charl-
ties in this country was supplied by him
in The erection of the large and handsome,
and comfortable Woman's Home in New
York, which provides lodging and board
of good quality at the minimum price. II
has been thought for many years that Mr..
Stewart, being childless (his wife survives
him), would, at his death, leave the great
| bulk of his fortune to charitable purposes.
II remains only for the opening of his will
| to determine this. His fortune has been
variously estimated at from S25, ,O00, 900 to
$40, 900 900; but, like the late Mr.. Astor's,
it will probably prove to have been exag,
| gerated.
Mr. Stewart made but one conspicuous
appearance in public life, and this was
exceedingly brief. When Gen. Grant be,
| came President, he nominated Mr.. Stew
art for Secretary of the Treasury. But
| Senator Sumner found a forgotten statute
prohibiting any one from serving as Sec.
retary OF the Treasury who is interested
in importations, and MI. Stewart's <nana
was withdrawn. 1t was a misfortune tha
the country was deprived of his excellen
Judgment anG shrewd business sagacity
buthe felt that he could not sacrifice his
vast personal interests to. serve the public
OF late years Mr.. Stewart has been more
social in his habits than formerly Hi
has had regular dinner parties at his mag
nifcent residence on Fifth avenue, fo
the erection of which several years wer'
taken and which is said to- have cost 81,
900, 900. He has also been liberal pat
ron of the fine arts, ard his residence, a
we'll as his picture gallery attached, i
filed With choice and costly paintings
! Chicago Tribune.