Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-04-11
BIOGRAPHICAL SKETCH.

art, who has been suffering for the past
week from Inflammation of the bowels,
died this afternoon.
BIOGRAPHICAL SKETCH.
Alexander Turney Stewart, the nivss.. 3.
successful Of modern merchants, was
born at Belfast, Ireland, In 1903 He
received an excellent education at Bel
fast and at Trinity college, Dublin,
where he graduated in 1922 He pro-
ceeded to the United States about 1923,
and at first taught the classics at q pri-
vate school, but in 1927, having a cash
capital OF $4,000, he went into trade. At
first he resolved 10 haze PARTNER fami-
iiaT I--::ssh the business, but as his friend
declined when the time came tn go Into
business, be started alone. He deter
mined to have but one price, and that
as low IS he could sfford the goods; to
make no misrepresentation in regard
to goods, to deal with all customers
alike, and 10 buy exclusively for cash.
His small capital, as we have said, was
about $4,000, and he hai invested most
of il in Irish linens ana lsces. Starting
on this basis, his caTser wss amazingly
successful, perhaps beyond precedent.
He had an immence wholesale estab-
lisment with scCre or more OF ware
houses at New York, and the largest re-.
tail dry goods store in the world, its
floors having an area, it Is said, Of tWeD-
ty-two acres. He als0 had branch
houses in other large cities OF the south
and west, and bureaus and warehouses
in most Of the larger cities of Europe.
His annual sales ranged from $75, ,OOO, 600
to 100000, 600, and mis- profits are re-
NaI 80 hor To cf-r
millions. He was also q very large
owner Of real estate, holding not less
than S45 ,G00, 900 in New York city, and
having within tbs past three years pur-
chased about half township on Hemp
stead plains, Long Island, where he
built city, and constructed a railroad
to connect it with New York. Mr..
Stewart at the time of his death had
nearly completed vast hotel for work
ing women, where, at an expense of not
over two dollars, or two dollars and a
quarter per week, fifteen hundred per-
sons can have most Of the substantial
comforts of home, together with we'll
cooked food, everything being furnished
at cost. he had also commenced 8 SIM
liar hotel for working young men. The
cost Of these two buildings and the land
VIII 10 dDOuO PCIOOOIOJO NtSShs Ii SPCOAhA
cases Of suffering he gave largely, as for
example, shipload Of provisions to the
Irish in the famine Of 1847, and ship
load, costing him 10000, to the Lam
eashire sufferers in 1852. By the Chi
cago fire of October, 1871, Mr.. Stewart
was heavy loser, but he gave at once
$50, 600, and subsequently, it is said,
$4,000 more, for the relief Of the suffer-
orS Mr. HtoUart Uaa nObaOdirU and
in his business, and to his
was inflexible, but many men
now prominent by wealth and position
as merchants owe to his good disposition
all they are worth, rescued, in some in
stances, by his timely help from bank
ruptcy and ruin. He has followed his
friend Astor very soon, for only few
days since we chrOnicled the death OF
that wealthiest of the real estate owners
OF New York. Now we record the death
OF the richest merchant in the world.