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

Alexander T. Stewart.
The death of Mr.. ALEXANDER r. STEWART
removes from New York its greatest mer-
clnnt and one of its most important citi-
Eeus. When Mr.. WILLIAM Il. AsToR died,
he did not leave an apprcciable gap. lie
was not personally an important factor of
our society. His death meant simply the
transfer of his property to his SONS. who
had long before aided him I'm the manage
ment of II. There was nothing in his indi-
viiuality that made hs loss rs IA living man
thing that touched the interests of the
public.
The death of Mr.. STEWART isvery differ
snt What he had he made for himself
IL is not all locked up III houses and lots,
but Is largely placed in active business
the greatest business on the continent and
probably not exCelled in the world. His
death will work "A transformation in that
business, and perhaps destroy ii rs great
concentration of energy and capital. 1t is
reasonable TO suppose, however, that he
hls not SO left his property that the
vast concern he built up and 10
which he gave his liveliest interest
will pass away, or fall TO pieces for
his partners cannot keep up this BUSH
ness, requiring such a capital as not q score
of merchants in the world can put up.
They must look to provisions OF Mr.. STEW
ARTS will, enabling them perhaps TO turn
the house into joint stock concern, or TO
employ at least a portion of the millions
which he used for Its transactions during
his life.
Mr.. STEWART did not rise to fortune by
chance or lucky speculation or favoiing
opportunities. He made himself what he
was, one of the richest men in America.
by legitimate business, industry, prudence,
wisdom, aud n rare adaptation for his
pursuit which approaches what we call
genius. When many years ago he kept "a
little store in lower Broadway. he exhibited
the qualities which made him the great
dry &, DDS dealer he aftorwaid became.
and ns years and wealth accumulated, he
did not relax effort or lose his enthusiasm
in his avocntion. Though he became Il
gigantic merchant, yet he was to the day
OF his last sickness just as attentive to his
affairs as when he himself, almost unaided
stood behind the short counter opposite
the Park, forty years ago. His aptitude
for his trade was shown when at that time
he introduced the novelty Of stationary
chairs for ladies TO sit upon as they sought
what they wished to purchase and thus
made his shopa popular one. He, too was
the FIRST TO Introduce the one-price system,
and TO forbid his clerks TO solicit buyers.
lie moved slowly, never taking liabili-
ties he could not meet, never extending
himself, and utterly banshng from his
ht,-i 81.
OF financial success.
What has been the gain to New York Of
this mans life and efforts? Have they
contributed to the public good as well as
thar Of HIMSELF Was he "A faithful steward
of the wealth which accumulated in his
hands, lheseare questions that cannot be
answered M random. If the concentration
OF power in the hands of one man is bad
for trade, then Mr.. STEWART was a damage
TO New York. lie put under one roof n
thousand iitlle shops, and served his
myriad customers better, more cheaplv.
and more eXpedltiously than any one OF
the miniature establishments which COM
petCd with him, and which ut first sight
he seemed 10 drive out OF existence
But, ms a matter of fact. the retail
dry goods business has grOwn proper
tionatcly with Mr.. STEWARDS growth,
Ii Is also conducted on better prin-
cplcs than IT was before he appeared,
tosct an example Of the proper and logical
method Of conducting business. Take his
career all in all, We must conclude that
M. STEWART was valuable force in New
YORK. lie built up vast establishment
winch gave employment to thousands of
II &. 1.tN 4
lily. and if the pay was not "a penny
larger lhAn demand and supply fixed it, II
was az loasi as sure rs the rising or the set
th% ot tire sun. He conducted his bust
- honestly, not misreprcscnting and not
striving to mislead the customer. He gave
the buyer his moneys worth.
So proceeding, MIR. STEWART built up "A
great fortune. He has AT least taught he
le on thai in country where speculation
and RASH ventures delude men, and they
try 10 find short cuts TO wealth, the
silnt.u nnd narrow way of combining
one attention ana effort TO his legitimate
business Is the safest one to pursue.
Purely as a citizen, Mr.. STEWART was not
OF significant use. lie gave little atten-
ton 10 the Improvement Of the city, and
yet that he had public ambitions was shown
by his eager desire TO take the pace:of Sec.
Rotary of the Treasury for which GRANT
nominated him when he first became Presi-
oent To gam that exalted position, Mr.
STEWART even offered 10 make what to
nun must have bcen the highest Of sacri-
noes namely, to retire from business, as
no" death compels him to do. He showed
al appreciation OF the SORROWS and needs
oi working girls, of whom he employed so
many when be built the great home for