Morning journal and courier., 1882-04-17
Sournal anO Courier.
Monday Morning, April 17. 1882.
4. T. STEWART & co.


 Although the great house of A. T. Stewart & Go. is not what it was it's withdrawal from business is an event of much importance. At one time the house had at least twelve | thousand persons in it's employ and ran tif- teen mills. Now but about six thousand per sons are employed and only three mills are run. Judge Hilton says the step about to be taken was not contemplated until about six weeks ago. He has felt for 8 long time the excess of the burdens he has had to bear, but having accepted them in accordance with | the wish of MT. Stewart he did not see be- fore this that he could lay them down with 1 out evading a sacred trust. He said to re- porter: Briefly stated, our desire is to close up the concern. Mir. Libbey is old, and as for me am tired. We both want rest and relief from care. I do not hope soon to find either, for besides this business I have other great matters on my hands. What do you think of one man sharing in the direction of great dry goods house, with it's tributary mills, and at the same time having the whole management of five hotels and millions of dollars worth of other real estate? Think of the multitudinous duties which such po- sition imposes I have had too much of it, and I want a change That's all there is of it." MT. Hilton says it is not true that the business has largely decreased in volume since MT. Stewards death, but he admits that it's compass has been narrowed. He declares that the house has never seen year when it did not make money, that nothing could be fur ther from the truth than the story that the business is to b. closed up because it is con- ducted at loss, that the retail trade has not declined except in so far as they have re- trenched it's notifications that the exclusion of Hebrews from the Grand Union Hotel did not iniure the business, that the credit of the house is as good as it ever was, etc., etc.
 On the other hand prominent members of the dry goods trade in New York attribute the diseontinuance of the business to it's de- cline since the death eff it's founder. The New York HeraZd says: ''Nor are thoss persons the decadence of this house had begun before Stewards death. Even he, though he might have had the talent to keep a hotel, could not successfully combine that pursuit with his legitimate avocation and with the administration of half score or more of mills and give to. each the sleepless attention that had made his success in one business He forgot the homely rule about the cobbler and his last and pushed his projects in fields in which he was moi, superior to others, if indeed, he was not the inferior of all. The mills es- pecially were disadvantageous portion of the enterprise, and those were the least harm ful which were only deadweights. T Another significant feature of the case in- | wolves the fact that the house was at last | beaten at it's own game. By making his shop | a bazaar Mir. Stewart squeezed out many | feebler neighbors who did we'll in little l places all along Broadway but now the ba- zaar system seems to have been taken up | everywhere, and half score of establish 1 ments carry it to an extreme which was never l dreamed of in Stewards"
 But whatever the truth of the matter the i winding up of the business will not seriously l affect the dry goods trade in New York city, for even if the house has not been losing money it's influence has long been on the | wane.