The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1876-04-20

But MI. Stewart did last. John
Jacob Astor wasithen worth. several
millions and Cornelius Vanderbilt
had been :s;;xs years in the ;: steamboat
business. :: The third competitor was
the last in: the field; hat his footing
was sure and hisstride rapid in the
race forr;wealth. II He adopted princi;
Piles for the control of his trad" from
which he never 'swerved, and, being
frugal in his personal + habits land
careful in his business methods, i his.
original investment grew lby degrees
until it had doubled and then trebled.
Al the outset his, progreass was mot:
{! brilliant. i bat;tssas .the;2prodaet lot
discretion, watcbfalness, and persist.
ent Labor, ;; In,1826 he reno we'd, to a
Larger store, AT No 1862 broadway,
1. aqd not long, saa&terw.rd he again
transferred, his: stock to, No: PSI
Broadway. His tireless energy, and
commercial sagaeity soon put him at
the head Of the dry goods" trade Of
the country, He had great delicacy
Of touch and taste; his Judgment Of
colors aud textures was excellent
and he had the rare faculty of tax
ing courage when others were dis
heartened, and Of apprehending dan.
ger when others were sanguine and
foolhardy. He foresaw.la a storm
months before the clouds gathered on
the business horizon. He would put
his goods before the public with ad:
roitness and promptness, and thus be
enabled to tideEoyer the panic, while
his rivals were carried under the cur
rent. In timesoof depression, be was
the first to anticipate a reaction. and
by silent purchases to lay in stock
for q rising market. His favorite
business principle was-one price for
all. From this h1ed price no sales
man was allowed 70 depart; and no.
deceit Or Misrepresentation as 70 the,
quality, Of the goods was tolerated.
He was led by instinct. and earlv
training to accept Honesty: ,is, the
best policy as q sound; business
principle. There never was a. mer-
chant who put more conscience into
hi, business than Mr.. Stewart, and
yet with him it was not 50 much con-
scien e as it was c: mmon sense.
In 1848 he had accumulated so
much capital that he was enabled to
build the large marble store at Broad.
way Chambers-st., on the site of the
Washington Hotel. which was then
the loung,ngplace Of the youngbloods
Of the city. The new store was a
tremendous advertisement. "'
! As his business was mainly trans
acted. not upon credit but upon &C.
tual capital, he enjoyed great advan-
takes iii his purchases abroad. Four
teen, years after. the Chamber:st.
building had been erected, his :busi.
ness had outgrown those spacious
quarters. He resolved to anticipate
the uptown movement by buying
part o: the old Randall farm, bound
ed by Ninth and Tenth-sts., Broad
way and Fourth-ave.. On these lots
he erected the six-story iron, building
which is now used as the retail store.
The cost of the land and structure
was not far from $2,750.O00. =. It; is
the largest retail store in the world
On the eight floors about 1000 persons
are employed, sad the, running ex
pepses Of, the establishment are Is
timated: At over 5lsl, ,00Q, ,0MJ a1year
The stores which, Mr.; Stewart buil1
!. are among the proudest monuments
to, commercial i enterprise, ina .th'
country, The trade transacted ii
them is almost fabulous. q he sale,
in the two establishments are said tt
have amounted to-, 100000 il
three years, and the income of MI
Stewart has been the. largest in 'th
mercantile world. In 1863 his in
come was $1,000, 900 j; in + 1864, 81,
00), 900; in 1865, ). 81, 600. 900; il
1866, $4,000, 0,O00-an average q
about $4,000, 900 year. The bust
ness Of the house is worldwide. 1
foreign bureau has been establishes
at Manchester, where English good
are collected, examined, and packed
At. Belfast the firm has: = factor!
J, where linens are bleached. AT Glae
lgow the firm has "A house for Scotc1
goods. IN a M, M, ::.'sa a.: Paris al
collected East India, French, an
German goods. The woolen house
in Berlin, and the ssiillks silk warehouse
): are At Lyons. Payments are mac
q the Paris Blu Bureau, and All the CO..
! tinental business centers there. The
. there are 9s mills: % in Europe. and Il
!: United States which manufactu'
b. goods exclusively for this firm, ar
. there are agents and q! buyers who "a
: constantly ! travelling {: from :Hor
y Kong to Paris, from Thibett to Per
Y To begin in a shabby shop with
q few Thousands, and to establish gu,
tI a vast mercantile fabric assethis, "
}, 1.-the tifeswosksi iofesths' smoosh-shave
}. fobIghteysd gentlaman, who, ~ d
aai1aoo SID bne haa'2nI nso1i IL +