The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1876-04-11


"a. j, sTEMART THE MERCHANT
PRINCE or EEWYoRK.
FHsu NE Compares with Vanderbilt
Actor, and mo RofhsehIIds.
From tina New York Worid, fth.l $3.50 3
Among The many prstsntious residences
IN New York, the pile OF white marble on
the northwest corner OF Fifth ayenue and
Thirty.fourth street, which invariably ELECTS
the question esWho lives therep from
strangers and others who see 1t for the frst
time, is the most pretentious. should you
chance that way any morning az ABOUT
$50 o'c lock, you will see pleasant
faced, rosy-cheecked, smooth shaver care
Embarrassed gentleman Of medium height,
little figure. and apparently Of middle
age come briskly down the steps and
lump into a coupe standing in front OF
the door, which wheels away With him.
Sometimes, on exceptionally fine days, he
will spare the time for constitutional. and
walk rapidly down the avenue at q; gait
which few men Of seventy-three years-ior
that is his age, though he looks twenty years
younger-Would attempt to initiate. This
Is a. T. Stewart, known at hone and abroad
as s. The Great New York Dry Goods Mer.
ehant."a He was born Ia the neighbor oooa
of Belfast, Ireland, about 1908, was educated
at Trinity College, Dublin, and came to this
city lin 1928, at the age OF twenty. he
taught school for short time, and then
opened small dry goods store on the west
side Of Broadway opposite the farK. AZ
that time John Jacob Astor WAS ALREADY
worth millions, while Cornelius fanderollt,
as captain for Thomas GioDons,T mao Deen
some six years in the steamboat business
Stuart was the last Of the three to enter
the race for wealth in this city. but be has
made astonishing time since 1926. be nao
over his two competitors the advantage OF q
college education. His wonderful executive
and administrative talent, combined WIN
exceptional commercial sagaclty and Sleep
less activity. soon placed him at the head Of
the dry.goods trade in, this city. In 1913 he
built the large marble store at Broadway
and Chambers street, on the site OF the
washington Hotel" which will be remem.
bered by old New Workers. as fashionable
resort some forty years ago, where the
Young bloods of the day used to meet, drink,
talk, smoke, dine, and wine, and which, In
fact, served all the purposes of club, before
those useful. institutions came into vogue
here. :, ;,
Stewards dry.goods palace, as it was called,
was the marvel of the time. It acted as an
advertisement through the length and
breadth of the land From 1913 his business
grew rapidly, and gradually assumed the
most colossal proportions. In some branches
of the business he had almost monopoly.
BUYING in large quantities, and always for
cash, be enjoyed great advantages in his for.
eign purchases, and, for long time, the
English, French, and German manufacturers
made to him concessions which no other
American house could obtain. He fore.
saw and prepared for the uptown move:
ment bY buying the land bounded
by Ninth and Tenth streets, Broad
yay and Fourth avenue. 1t is leasehold
property, part OF the old Randall farm, and
held under Sailors Snug Harbor leases. On
these lots, covering an area OF about TWO ana
one quarter acres, IS erected the six-storY
iron building which now occupies it.. The
total investment, land and buildings, may
be roughly estimated at ~, 750, 900. To this
establishment in 1862 Mr.. Stewart removed
his retail business, and from that time the
downtown store was devoted entirely 70
wholesale trade. .. z 20 -" >z=''<
:, Stewards Tenth.Str store is the largest
establishment OF the kind in the world.
There is nothing Of the sort ia London or
Paris which at aIlapproaches it Taere are
eight floors-tWo below and six above
gfound--esch covering an, ares..of two and
one quarter acres, thus liking q total OF
eighteen acres devoted to retail dry.goods
purposes. It requires b2O-horse power TO
heat the buildings, run the elevators, and
work the sewing maehines,2 which are all
placed lin GROW on the fourth moor. Inere
are about two THOUSAND employees under
nav; The disbursements for running ex-
penses are over million of dollars per an
mum. The Wholesale and retail establish.
ments combined have sold as high as $780,
00D, 900 in one year. q At pressnt'the proba.
bly, run in the neighborhood OF S33,uU0,0O0
per annum. So rapid has been the uptown
movement In all branches OF retail trade that
Stewards Teuth-Street store seems low
down. Will Mr.. Stewart build third store
above Arnold & Constable's and Johnson's?
II has been talked of. But Mr.. Stewards
now 40 much occupied with the care OF his
| various interests that 1t Is more than doubtful
| if he embark again in the building of, "dry-
goods palaces" BE owns the Grand Uniop,
| tie largest summer hotel at Saratoga. BE has
built up and owns city on long Island,
known as Garden City, and conuec.et II
with Kew York by 8 railroad running to
Hunters Point ferry, East river. This Gar.
den City is one Of his pet schemes. 1t is
increasing in size and population every day.
Few are aware Of the gigantic enterprise ne
has engaged in at Genham, near Flshklli,
where be owns large mill properties. He pro-
poses to erect at this spot-in fact, IS now
ereetipg--Vast millsfor general manufacturing
purposes, which, when completed, Will
astonish the country. He has conceived the
idea or substituting domestic fabrics for
large line of foreign goods now necessarily
imported, and will, when mis- new manulac;
tories are completed and in operation, be en-
abled 10 offer to the American public q
cheaper, better, and. more enduring Ameri-
can fabric than any imported artieleiof the
same description now sold in this market. !
During successful business career OF fifty
years Mr.. Stewart has beena constant buyer
of real estate Ia this city, his holdings of
real property being only surpassed BY those
OF, the Aston family: Previous tothe death
of the late William B. Astor, in the fall OF
1876, A. T. Stewart was the second largest
holder Of New York city property. Since
the division of MIR. Astor's estate among his
children, but principally between his two
sons, John Jacob and William, many have
thought that A. T., Stewart has been pro-
NOTED to the first rank in the list Of New
York city real estate owners. We are not OF
that opinion. II, as is generally understood,
the bulk Of the Astor property was left to
the eldest son of the late William b. Astor,
the present John Jaco btAstor is undoubted-
" at this present writing the largest real es.