Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1876-04-21
whom I would not sell if 1 could
HIS PECULIAR BUSINESS IDEAS AND METH

avoid it,.
HIS PECULIAR BUSINESS IDEAS AND METH
| ODS
| His ideas of architecture were pc
culiar. Iron was bis favorite material,
and he used plenty Of glass. His aim
| was to adapt the structure to all its
purposes, and to secure the comfort OF
all within. When he built house fol
another-as his marble palace in Fifth
avenue, which he playfuliy called ''a
| little attention to Mrs. Stewart" it
was differentjmatter. He built that,
ne used to say, merely TO please her.
This is the costliest private residence
in America. and his art coIlec-
ton is one of the finest in the
United States. He married young,
and leaves a wife but no children.
Throughout his business career Mr..
Stewart has been cautious, practical
aud, according to the common appre-
ciatior, especially commonplace.
| What he has achieved has come not SO
| much from abnormal shrew ness as
from strict adhearance to principles
understood, if not carried out. in all
the merchantile communities. So,
too, while his methods of trade were
such as any young man might adopt,
the growth of his colossal fortune was
not marked by unusual episodes of
startling changes. He was not dual IN
character; he led one life; he was gov
erned by one code, he Wa practical,
far sighted man, with a passion for
| business as overmastering as Bismarck
has for affairs of state. At all times
he was reticent, but keen; guarded,
but quick; firm, but not headsuonq;
exacting toward himself and others
A gentleman with whom he was most
closely related in business and society
for many years, speaks of his remark
able financial ability. He could in
| vest the greatest amounts with the ut
most confidence and unerrirg judg-
ment. Had the amount under his
control annually been 5000, 900, 900
| instead of $50, 600, 900, it is said that
he would have experienced no hesita-
ton in disposing of it. He was to the
eye almost impassiye at hazardous mo-
ments; comprehended silently every
point Of the situation, and would decide
| before other men could have collec ed
themselves to think. Over his vast
| concern his personal supervision was
unremitted. Stray branches, SO small
as to seem ms gnifcant, were watched
as vigilently as those through which
millions of dollars passed. His bust
ness habits were ret lined to the last
month of his life. He generally ar
rived at the Tenth street store about
10 O'Clock III the morning, stayed
until noon, then went down to the
Chambers street establishment and re-
manned there until 5 o'clock. One of
the busiest men in New York, he had
fnuy hnliIauo nd fhnca ,>.poca1 ok
Saratoga. He was a living embodi-
! ment of the genies of trade.
HIS REAL EsTATE-PROBABLE PROVISIONS
OF THE WILL.
Mr.. Stewart has long been regarded
as one of the richest men in the United
States. Next to Corn elius Vanderbilt
and the late William B. Astor he was
probably the richest. Mr. Vanderbilt
invested in railroads from their first
introduction in this country, and has
amassed what is popularity supposed
to be the largest private fortune in
America, almost wholly in these pro-
ductive sto ks. Mr.. Astor's gre 1t
fortune of $50. 900 900 or $50, 900. 900
was made, as is we'll known, almost
wholly in real estate operations. IN a
city where such investments proved to
be exceptionally and marvelously pro-
ftabie. Mr.. Stewards fortune was
made almost wholly in trade-his rea
estate ransactlons being subsidiary TO
his mercantile projects-and he took
no interest III railway or other specu-
latlge stocks or operations. HIS for
tune grew less raDidIy than that &c the
others, being subjected to reverSes of
trade which that of the others did not
feel; but it is generally estimated that
he has left property to the amount of
$50, 900, coo, and possibly more.
The following list viii give some
idea of the immense amount OF CAPT
tai invested in that class Of property,
although not by any means complete,
represents in itself many fortunes. He
owned the marble structure running
from Broadway to Reede street, now
used as q wholesale establishments; the
retail store, occupying a complete
block bounded by Ninth and Tenth
streets, Broadway and Fourth avenue;
the Metropolitan and ST. Nicholas
hotels; the Globe theatre, on Broad
way; NlblO's Garden; his mansion on
Fifth avenue, corner of Thirty-fourth
street; almost all of the buildings ex-
tending from Broadway on Blocker
street to Depau row; the Amity street
Baptist church.; the Grand street
Presbyterian church.; several dwelling
houses on Fifth avenue, 5000 acres of
land on Hampstead Plains, now known
as Garden City, with the villas. &c,
variously estimated at being worth |
from Sd, 100000 to SIS, 900, 900; an i'm
mense amount of mill property at !
Glenham, near Fishkill landing; the |
Union hotel at Saratoga, the most gil |
gantic hostelry i'll the world; the Hotel |
for worklngwonen, on Fourth avenue |
and Thirty second street, besides al
most lnnumerable houses in this city |
and tracts of suburban property as |
we'll
By the provisions of his will, drawn |
sometime since by his personal friend |
and legal adviser, Judge Henry Hill
ton, the great merchant prince of |
America directed the future course of |
the house he had founded and to
which the best energies of his lie had |
been devoted. It provides that the
man who ACCOMPANIED him on his
trips to Europe. who was his confden
tial adviser in all business affairs, the
one above all others who can direct |
the future business of the house of A.
business of that firm under the same
name. That man is Judge Billion. He
is associated with Mr.. VIM. Libby, his
only surviving partner. Mr.. Libby
came into the employ of Messrs. A. L.
Stewart & Co. between twelve and fif-
teen years ago as business manager of
the New York Wholesale house at
Broadway, Chambers and Reade
streets. A few years after his admis-
sion Mr.. William Libby WIS admitted
as partner of the house and placed in
charge of the downtown store. At
that time the merchant prince had ex-
tended his business to every portion of
the world. The firm directed by that
master mind was composed of the prin-
cipal, Alexander T. Stewart of New
York; Mr.. Worden, of Paris, France;
MIR. Fox, of Manchester. England; and
Mr.. Libby, of New York. The houses
the firm were located at
Boston, Mast.; Philadelphia, Pa;
Paris, Rfance; Lyons, France; Man
eh6atars EnelaHd. bradford Enoland.