New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-07-03
TIlIRTK-SLX YEAhS IN BUSINESS.

CLOSE OF s. b. CHTTENDENs CONNECTION WITH
1nR DRY GOODS TRADE-RAPID AND SUCCESS
FUL wINDING-UP OF THE FIRM OF KAYSR,
SPRING DALE q co.
The last chapter in the history Of a noted
NewYork closed Saturday, and the successful
way In which the extensive business wound up IN
twenty days made that chapter memor ble. THIS bust
ness that Of Kayne. Spring, Dale IL Co., at No. 32S
Broadway, was begun by Simeon b. Chitenden,
now member Of Congress from Brooklyn
district, thirty-six years ago An advertisement
appeared June TO- headed " Liquidation, Positive
Prompt Store to Le and stated that in consequence
Of the death Of Alfred Kayne February II. the firm
woud 90 liquidation by the end Of the month, and
that It's goods were for mmcd ate sale. Al the Zine Of
this publication the firm was carrying stock worth
$500 900 held a lease OF the store running eighteen
months and employed 10 men, who Were engaged for
six months. The expenses were at least $4,000
month. On Saturday the remainder of the stock was
disposed Of at aucJiOn the larger part Of tne goods
bavmg been previously sold without sacrifice. The
lease was transferred without loss. aud all the clerks
were provided for This achievement, without parallel
In the history OF the dry goods trade OF NewYOrB is
characteristic OF the spirit which mas animated OF
the most successful wholesale establishments Of the
metropolis
NIcssrs Kayne, Spring and Dale, with S. b. Chtten-
den as special partner, succeeded 5. D. Cmtcpden &
CO. in 1874 when Mr. CniUenden was elected to Con-
goods store IN New-lIaYen, and cons pcu his
activity and his eaEerness to please the lady customers
In 1886 this young invested bis earnings, $1,000,
in goods in New-York, and opened store for him.
self in New-Hayen. The venture was so sue
cessful that In 1912 Mt. Chittendcn was able
to come to Ncw-York and open iobbing
house in Hanoversquare. This was two gears before
H. g. Clafn started in business mere. George Bliss
now OF Morton, Bliss Co., taken into tue Hanover
ouare three years afterward and subsequently
they moved into Beayer-st. Phelps Emo, prominent
firm had purchased the old church IN Wal-st and Mr.
Chittenden Induced them TO erect store on the site
the church having been removed and rebuilt IN Jersey
City-nto which moved and began selling dry goods
IN W,ll-st Amos r. Emo famous for MS skill IN Sc
curug great bargains the dry goods sales OF those
DAVIS Ho was first led 70 look favOraby on the young
| merchant from New-IIayen by tue way IN which
he appeared on the day following these pur-
| cbssea and paid Mr.. Emo large profit on his
! bargains, on one occasion paying him an advance
OF 100 per cent. Mr.. Emo and John Jay Phelps were
for several years associated In slightly varying rela-
lions win Mr. Chtcnden and Mr. Bliss one oftbese four
men left OF from three TO ave millions, another
il - mem Der of Que Of the leading banking houses
! Wail-st auother besides owning the Ffth Avenue
Hotel. fortune IN ITSELF has great amount n other
productive estate aud investments, while Mr. cni-
tendcn win the present liquidation retreS rom busl-
! ness with large fortune.
when Mr. Phelps and MI. Emo dissolved their
| partnership the former became the senior mem
! DER OF the firm Of Phelps, Chlitenden &
| Bliss. Mr. Chiteuden went to Europe to
make purchases At the end of the year they divided
! 100000 clear profit Mr.. Chltlendcn lmlne .lately
startled the prudent Mr.. Phelps by investing $1,000
! I'M n residence on BROOKLYN Heights hr Phelps retired
! from the firm about 1c4s and was inGuced by Mr..
Cnltfendeu to build the store at No 70 Broadway,
on the site then known as the Grace CnuIch
property Mr. Chittendcn took lease OF the store for
twenty years uXed price before the hIsJ stone was
! laid. aud of this lease made prout or nearly
quarter Of million. MI Bliss retired nom the bust
hess about S54, tbs firm beng then IN Park place Mr.
Chitendcn took or three faithful clerks into the
business and IS. b. Chttenten & Co." opened store
/ at Broadway ana Lconardst. on the site or the
New-lork Lie Insurance COMPANY 8 D9iIdhs, where
I al II.tHl ~
being wholly destroyed. TIE insurance covered All but
about $4,000 of TINS. They then moved temporarily
into small store III leOnard-St previous 10 TINS ulnc
Alfred Kaync mad been "a clerk IN Nh Citenden's en-
! ploy He hrst had ! salary OF Sl,2OO, bur soon
obtained an interest IN me bushes, ana 5h9T can
| u Dir. Chttcudeus hands, having only the iatteTs
! promise 70 pay "a security. -, ,o -,
hteuden leaVins about 72oOOOO In tae business As
spec al partner. Then was formed me nfm OF hSyne,
! Spring Daie Co., which ha> Deen dissolved So sud
denly anu successful w. because MI Cnttonden, N.O is
guardian Of Mr. Haynes son tuow ten years OF age ana
being cd Pau Thought II wise TO make per-
nauent investment OF the boys inheritance ana SO
/ desired 10 draw out his money from the firm.
George L. Dale has accepted prominent position iu rhe
! firm OF A. T. Stewart & Co. Preston Il. Spring, win
other members OF tho late firm, Will open "A dry
Goods housr IN Broadway. Teft, Grswod Il Co. 60
| occupy tue Old quarters, No. 32o Broadway.
ceSsors never claimed equal some other dry goods
houses ths OF transactions, they have at time
in point OF credit responsibility,
yI1iauce and energy One OF Mr. Chlttcndens mnexiUe
principles was TO expose the hrIn 90 danger.
liz vas hs theory that the merchants OF the country
carried .nuch stock ana conducted ther buSlEcSs
with too much expense. The firm was managed on
economical principles and the closest attention al
vays pad 10 details Mr. ChIttenden mas SAID that dur
ing tne commercial panIcs and troubles through which
mis- community mas passed IN the last tAlIt!sA years,
he nev the Monday morning when he had not
several of the hourishing merchants OF to-day were
trained IL his employ