The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-04-11

nov long hc,"i, ,,,nd tne beat goods la the mr.
kct Ht a lower price than trey had ever uv."ne i,s
, t,tords to avail Themselves OF the oppOtt nitv.
The little broadway store was hlled All uay; |
and long before the eAp,ra''on % ~ ~ 'uo 1,,es
Etewarts shelves were empty ana his treasury
was fun. lie paid his note ana laid In fresh
chases at this time. TIE market was extremely
duh and money was scarce. lhe energy indus
try, naticnce, and business tact displayed by
Mr. stewart In these nrst years OF his CONNER.
cai llfs yielded their sure reward, ana IN la25
his little stoie was no longer larse enough Tor
the large und fashionable trade that had come
THE GROWING TRApEsMAS.
Three new stores had juet been erected In
Broadway, between Chambers and warren
streets, and he leased the smallest OF them and
moyod into H.. IL was modest structure, three
stories IN height and thirty Ieet docp, but In IL
he was able to keep larger and more attractive
etock OF goods, and his business was greatly
tnis store ho moved, In 1SS, to n two etori store
In broadway, between Murray and Warren
streets. Soon after oscupyng It he was COM
PEELED by tho growth Of his business to add
twenty feet to the depth OF the store, and 70 add
sn0shsr sto1 .nS yia, IN Il G wI S ,es story Hs
trade was now with the wealthy and fashionable
Glass Of the city, and he had surn ounted an nls
rly difficulties and laid the foundation OF
The great crisis Of 1887 found Mr.. Stewart
| prosperous nnd rising man. and In that terrible
| financial storm, while other men were becoming
| bankrupt, he was coming money. he always
WntgueO tue market Closely hu Auht uo
pront by rny sudden change In It. lie marked
| down u his goods as low as possible ana oegan
hard times, and all were glad TO avail themselves
| of "Stcwart's pargains." In this way ne carried
on retail cash trade OF four thousand dollars a
| were compelled to send their goods TO auction
to be sold for what they might bring, and mr.
S,ew S"cSss,ns The goods thus offered. These he
rapidly sold. realizing an average profit OF forty
| per cent. II IA sid that he purchased t5oVO
| worth OF silks IN this way, aud sold the whole
| lot within few days, making t2JOO on toe
| trans ction. lie made a fortune IN that cIi-is.
| Whom MIR. Stewart opened his little $40 c. John
Jacob Astor was worth millions. and Cornellu.
| Vanderbilt, a, captain for thomas Gibbons, had
been six ycgrs in the steam boat business. In
lSis he bulk the large marolo store at Broad
way and Cnano rs street, on tho site OF the
| Waslingtnu Hotel, ri 20 which was fashion
bic resort aoout forty yenrs AGO Siewarts
Now YORK pal see, sit wrs called, was tue IN 4r-
| vel Of the time. From 1915 Ills business trr
| pidiy, ara It grew until It became enormous.
In some branches no h4d almost monopoly.
irg In large quantities., and always Tor cash,
cbascs, I'D for long time the English, frcnch,
| aud GcrrHn manufacturers made concess sions
o him .hai no other uan could obtain. lie fore
saw aud prepared for the up-town movement
| by leasing tne land bounded by Ninth ana Tenth
streets and Hroadwly and Fourth avenue. IL Is
part OF The old Randall farm, aud Is held
under sailors snug haroor ie.ses. On tnese
lots, covering an area OF two and one quarter
acres ne erected his strong iron retail store at 4
cost OF S2,75O,O0O. TO this ostaohs nment, IN lsf
from that time the downtown store was gwen
up to wholeal lie trade.
Mr Stew rt's uptown store Is the largest oi
the kind In the world. There is nothing that u
all approaches IL In either London or Paris. Ii
has eight stofes, two below and six ABOVE
ground each covering an area OF two aud one
quarter acres, thus making tot OF eighteen
| scres devoted to retail dry goods purposes. II
| reouires go horse power to heat the vast store
| run the elevators. and Work the sewing INA
4 | rioyees under paw, snd the disbursements { Il
running expenses are over Sl,OJ,OOO year lh'
l. | Wholesale and ret. II estaOli -hn.ents combinet
| a, a,Il lrnn a. Il
The d IN Of A. r. Stewsrt Co. hes branc!
houses la Boston, Pnii ildelphia Pnris, h. ons
g France; Manchester. England BrainfOro, Not
q tingham, Beif4st, Glasgow, Berlin. ana Chem
= = nEForMISG THE RETAIL TRADE
. MIR stewart was a strictly just, but not \ cen
D. crous man In hi. dealings. lie ALWAYS " hi
II own word scrupulously, ond required others L
r. he paid d llar, and II a MAJ promised him
u doll,r nothing less tn n the dollar would Sal
o isfy him. hence he got the reputation OF Oein
hard aud exactnr. uad tunse qut utly was ra he
t unpopular. lie was lso q su1cilY irulh al mai
le lie never told Hes nor asked ANYBODY IN his Ell
pluy to tell them. Ihe foundation Of his ous
le ncss success was the rcpuiaiou, which u
as establishment gained q an early day, f,r Il,
lf scrihing goods ex,cily as they were ohern
~ them At the lowest price intended 10 be t-kcl
IS opened ms store 1t was tne custom OF sellers an
10 buyers TO chatter over their tranSac IONS ~
IN deaf asked more than ne intendsd to TAX
a. nj the Ouyer offered less than lie ~ ended
ld give, and long debate followed. The resu
lt was that timid people, women ana young he
at could look at goods, ask prices and then hay
not ing more TO do than TO make up thor minc
whether TO take them or leave them. Mr.. stew
art also had the reputation OF paying the lowe
market rate Of salaries to his clerks. Ibis wi
Is partly owing to bis natural shrewdness. M
q tartly to the fact that he was constantly owe
>, whelmed with applications for situations. Ha
'" Ing only TO pick from great number who o
a ierod Themselves, aud who were anxious l.
ne employment on any terms, he found it easy
secure clerks at ssaes iar DeTg edosS sc ,n n
h But whatever lie promised 10 pay was pa
tn punctualy and fully. And In the course Of b
tong caretrit has never been alleged az Inst hi
rs thar ne over dofraudcd man, woman or chiid
he a cent. At the sane tine ne required OF all q
ce fullest performance OF tie duties that thos II
dertoDk, ana avery slisnt fdllulo Was IN !.
'i eyes sufficient cause toI dismissal. As an ~
an ira ion Of hs business tact, II Is mentioned III
~ on opening his great retail store be instruct'
he his clerks to pay particular attention TO the po
:, his q ject being to break up the DONeT} trdd
~ And lao die 1t ,neCtually.
~ Mr. Stewui. p great peculiarly as busne
~, | man was his iamili GitY with the minutcst d
is tail, Of his own affairs. lie carried everythi
u ~ his own head down 10 the pieces OF petty
- ticics in the Yankee notions department.
81, knew now mucn stock he had ~ every x nd
M goods, just what each cost, aud where II la'
~ ~ | ms warehouse. lie rarely consulted ny Oh"
~ | regard to bis transactions. lie would ohta
~ ~ sucn iacts as he needed from his tookkeepe
n and think out his plan OF operations ny ~
n1 self Having once made up hls mind, he "
ba decided aud vigorous IN execution. II ne lol
70 70 saw loss, he hlsteued 10 sell as soon as pos
'Ie ble, ana often while people were hesltltlns
ed had hls money In htnd, aud when iurlhtr /
~ | came. no replaced MS goods At Hluth lcrs th
-, he sold them for. II was much the me VIII
st buying for rise. lie did not wait Tor I
20 | highest price to be reached before purchesiI
~ | but took the tide at its turn.
he Mr.. sTEwART's PROPERTY
re- IA variousIy estim ted at S2O0OOO 90 to 100000
MS Tue o. inion of the best judges s that II was d
no far from S25,C0O 900; but only one man III
ne world, during Mr Stewarts lifetime, behll
OK Mr.. Stewart himself, knew exactly. mat IN
ne was John NJ. Hopkins, his conhdential 0ot
u keeper. MIR. Hopkins gathered up from tihe
no time the balance sheets Of the various depa
on ments, and from them he made up general
lat count Of the business, which was kept unl
er close lock and key and never shown to any q
lr- uut MIR. Stewart The ca1tal invested IT, the {
MS goods Establishments could not nave been
es- one time less than SO, OO,0,O; but IL u 81
ol that during the last Few years mucn
1t has been Withdrawn, and that the bu
ness OF the Chambers street and the Ell
no. street stores has been transacted mostly
.i | commission. IL this IS so II Will prevent o
"a shock TO the affairs Of his house in oOnsequei
o o OF his death, and also greatly fhcili
d the settlement Of his estate. His real prope
ia Is large Ia amount. lie owned the store
'TJ | Chambf 3 aud broadway, the retail store
~ | Tenth street and Broadway, numerous wa
snV ~" houses In Chambers and Henle Ereots the NJ
~ ropolltan Hotel and Niblos Theatre, Il great III
20 a, holses and lots IN Bleecker and Amity str G
~ west OF broadway the Globe Theatre, MS IN
'ooir BILE mansion in Fifth avenue, the Moiklng'
nd mems Home at Fourth avenue ana lhlrty-seot