Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1876-04-20

ing school for 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
mouse IN the world. He buih his down
town store, corner of Chambers street
ana Broadway, as early as 1913, and some
years after erected another on the corner
OF Tenth and Broadway for the retail
trade. His business has attained fabu-
| Ious proportions, and he passed through
three National panics-1S37, 1857 and
lofs-wlthout being affected. He had
the wisdom in each case to forecaste the
crisis anc prepare for it. In the panic of
1887 1t is said that he sold ont his entire
stock some months previous to the crash,
and subsequently bought back large parts
OF 1t at fifty cents on the dollar He was
strict dlsciplinarian in the management
OF his business, and an implacable rival.
tie has been frequently charged with uIl-
fair practices in competition, but he him
self attributed his success to rigid OBJ
servance of certain general principles,
two 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 illiberal
he may have been in a business way, was
certainly magnificent in his charities.
During the Irish famine in 1917 he char
tered a ship, filled it with provisions, and
sent the cargo as a gift TO his cOuntrymen.
After the Chicago fire he sent $50, 900 to
this city in money as his individual con-
tributiOn, to be distributed among the
poor sewing women who were among the
sufferers. One of the best practical chart
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. 1t
has been thought for many years that Mr..
Stewart, being childless CHS wife survives
him), would, at his death, leave the great
bulk Of his fortune 10 charitable purposes.
1t remains only for the opening of his will
to determine this. His fortune has been
variOusly estimated at from $25, 000,0 600 to
$40, 000, 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 forgotten statute
prohibiting any one from serving as Sec
rotary OF the Treasury who is interested
in impOrtations, and Mr. Stewards name
was withdrawn. 1t was misfortune that
the country was deprived of his excellent
judgment and 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. He
has had regular dinner parties at his mag
n;fcent residence ON Fifth avenue, for
the erection of which several years were
taken and which is said to have cost 81
000,0 He has also been liberal pat
ron of the fine arts, ard his residence, as
well as his picture gallery attached, is
filled with choice and costly paintings -
Chicago Tribune.