The weekly echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1868-1876, 1876-05-18
ALExANDER 2. sTEwABE.
Interesting Detaas 81 Ms Business and
Possessions.

Ina recent article upon the career Q
MI. Stewart, the New York World CAV
some interesting particulars as to his for
tune. From that article we make thu
following extracts:
Stewards dry-gOods palace, as II wal
called, was the marvel Of the time. i
acted a. an advertisement through the
| length and breadth Of the land. From
1s4S his business grew rapidly and grad
uaIly assumed the most colossal proper
tions. In some branches Of the business
he had almost a monopoly. Buying in
large quantities and always for cash, he
enjoyed great advantages in his foreign
purchases, and for long time the En-
glish, French and German manufacture
ers made to him concessions which no
other American house could obtain. He
foresaw and prepared for the uptown
movement by buying the land bounded
by Ninth and Tenth streets, Broadway
and Fourth avenue. It is leasehold pro-
perty, part Of the old Randall farm, and
held under sailors snug harbOr leases.
On these lots, covering an area of about
two and one-quarter acres, he erected
the six.story iron building which now
occupies it. The total investment, land
and buildings, may be roughly estimated
at $2,76O,OOO. To this establishment in
1862, Mr. Stewart removed his retail
business, and from that time the down
town store was devoted entirely to whole
sale trade.
Stewards Tenth-street store is the
largest establishment of the kind in the
world. There is nothing of the sort in
London or Paris which at all approaches
it. There are eight aoors-twO below
and six above ground, each covering an
area of two and one-quarter acres-thus
making a total of eighteen acres, devoted
TO retail dry-gOOds purposes. 1t requires
$40 horsepower to heat the building,
run the elevators, and work the sewing
which are all placed in a row |
IN the fourth floor. There are about |
5wo thousand employees under pay. The |
disbursements for running expenses are
,ver a million of dollars per annum:. The
wholesale and retail establishments COM
lined have sold as high as $50, OOO,O 900 in
me year. At present they probably run
n the neighbOrhOOd of $4,000, 900 per
mum. So rapid has been the uptown
Movement in all branches of retail trade,
hat Stewards Tenth-street store seems
wv down. He owns the Grand Union,
he largest summer hotel at Sar-
tOga. He has built up and owns city
a Long Island, known as Garden City,
nd connected it with New York by
lilroad running to Hunters Point ferry,
asst river. This Garden City is one of
ID pet schemes; it is increasing in size
I'd Importance daily. Few are aware
the great enterprise he has engaged
at at Glenham, near Fishkill, where I
owns large mill properties. He pro. l
uses to erect at this spot, in fact is now
Getting, vast mills for general manufac- :
ring purposes, which, when completed, I
Ill astonish the country. He has con- !
lived the idea of substituting domestic &
brics for large line of foreign goods c
w necessarily imported, and win, when
5 new manufactures are completed d
d in operation, be enabled to offer to L
e American public a cheaper, better t
d more enduring fabric than any inn v
rted article of the same description
W sold in this market. p
During a successful business career of t
~ years MFR. Stewart has been a con- il
mt buyer Of real estate in this city, P
J holding of real property being only .
rpassed by those of the Astor family.
Q win not undertake 10 give the cur n
1t rumoEs concerning Mr.. Stewards O
1t wealth. Suffice it to say that Cor. g
Illus Vanderbilt's wealth ia estimated e
from s75,0O0,OOO to $50, 900, 900, and 4
!, Stewart il said to be the richer man W
the two. We very much doubt If n
ire are to-day ten other men in the 81
rid who can match him in wealth.
e house of Rothschild Is a partnership
lcern and can not be fairly taken into \
isideration as against a single person IN