The sun. [volume] (New York [N.Y.]) 1833-1916, 1882-04-16
JUDGE HILTON'S REASONS.
THE FIRM GOING OUT OF BUSINESS BE
CAUSE 1T rs WEARY.


TIE Point illustrated by . Little stsry-Mr.
Hilton says there has been No Time when
the Profits were Not satisrActory His
Denial OF Curreut Runors About the Firu.
Ex-Judge Hilton stood yesterday In the
northwest corner OF the big store OF A. T. Stew
art 4 Co.. behind q clerks desk. when a Sun
reporter asked him why the house had decided
to go out OF the dry goods and manufacturing
business. When he heard the question ne
leaned against one OF the Huted iron pillars
near at hand. threw back his coat and smiled
"Iknew John Van Buren, very we'll indeed.
eaid he, and practised with him at the OAR
Ne had q case before Chief Justice DEMO. De-
Roro whom also practised. and ne was nom
suited because he had not enough evidence to
support his cause. Judge DEMO asked him
Why he had not got the evidence. You must
have had IL p said the Judge. pressing tho aues-
ton. Finally John Van Buren, made reply.
The truth Is. Judge said he that there was
any quantity OF evidence. but got tired Of put
ting 1t together That ia the case with A. 7.
Stewart h Co. We are tired"
Don't you think ought to be tired'" Mr..
Hilton asked. after q pause. Mr.. Stewart
and were together thirty years ago. and he
used to say that he divided the business with
mo then. When you think Of all there is to look
after. Ia It surprising that We are tired p
Then 1t is not true that you and Mr.. Libby
have disaxreedf'
1T not only is not true. but believe there
could hardly be anything moro remarkable
than the perfect harmony that has always ex-
isted between Mr.. Libby and myself. / have
been with Mr.. Libby for twenty years. and in
that time there has never been word OF dis
agreement between us-not a word He and
agreed upon the advisabilty OF this last step.
1t seemed 10 him as 1t did to me. that now
while both Of us have health and strength and
can sell without loss. is the hest time for us to
do so. We have notified our various branch
houses in Europe to close out their business.
and. though we are importing yet and will 60
on importing as our orders are untitled. they
will all follow our instructions"
will you close and sell your mills also p
Yes; they are included In the business.
Now, sec what q gigantic concern this was.
We had at one time thirteen or fourteen mills
In operation. Some are closed. and some We
have sold. We have largo ones yet in opera
ton. There is big carpet mill running in
Glenham . woollen mill in Glenham. a thread
mill in Cstskill. and a mill making underwear
In Nottingham. England. We employ alto
eether about 5000 persons. over 5000 being
- Has tho arm been losing money since you
took charge Of the business p
there is one Of those things thu. we're
ing a basis Of truth 1t is not and never was
the custom OF this house 70 tell what IT was
say, what money we have made; but | viii say
that We have each year made profits that we're
this business that I have cause to regret" -,
uTh". did not hurt our Sa business at ALL Mr.
sssSs S ssss
! did not say half what was credited with
that caused a general tribal war against me.
but did no, complain publicly. l sipGly
put such things in my mouth. But II did not
ing year than 1t had been before or course
did not have objections TO all Jews. but only to
sher business. moss % business u WITH them
and at the same time buy hundreds OF thou
eds 81 be t Soob s
about as reliable as the one which credits us
with t22 600 600 capital Such an amount ,S ut, Of
ness ' or any other business Of the kind"
III. e said that vow departed, from A. t.
Yes; and That I have been. borrowing
money" Mr.. Hilton interrupted; now. win
or any paper have ever had discounted. and
II there is any bank that owe money TO. then
Idon't know the name Of it. that's all; The
under Mr. Stewart and while don't intend to
say how much money it has got, will say that
twas said that the Chicago branch was started
without the approval of my colleagues. That
why was the down town store abandoned? ?"
y, Simply because It was too far down town .
the last store p TO move Wsn up anf bs she oe
only after they had had been to al the others 1t
But you took for 1t room that was originally
sF Hs ar i' said Mr. Hilton. we took ont
sSe@ in oaf II Isssetse place
where we have the equivalent Of seven stores,
sctuaf acreage cage ii Than nit it had down town That
move was good one T IT was not not caused ,1I 6y
profits tina, were satisfactory to us" .,
We'll. that am not going to say. 1t Is not
customary for us to say what we arc going to
do. but when we have done 1t or have anything
mean viii you sell out gradually or all at
once. by auction. or in what way?
but, as matter Of fact ! have never boosted or
even told what l was going to DO, 90 and
saoGs Ssrs and fsiS
we have any especial Eel b bargains viii adver
Butif you are asked 70 sell out the business
as II stands. what them"
so Hs Ma Hsn aO9p ws sSTe1
tised her farm for sale. and spelt sale sail. A
asked ner when sue WIS BOlnR. 10 sail 1 II
sail, said she. whenever anybody comes along
with the windr"
THE hotels and the Garden City property 2"
Oh, that is Mrs. Stewards matter. That Is
the estate"
"Wontt take long tine to close out the
49, am not going to say anything about that.
The only thing have TO say is that II is to be
closed. and the old Nag that for sixty years has
waved over ii will DO furled and laid away
untarnished and without blemish or stain
upon It,"
Mr.. Hilton invited tho reporter down stairs.
and on the way pointed TO a copy " the Ne'n
York Commercial printed In 1928 in which was
4. 7. StewSrt's first advertisement. announcing
that a he had quantity Of Irish linens and other
eNlsrSe room in which many clerks were busy.
II Is sad, 1t Is very sad 1t kept me awake
last night thinking over the closing Of this
enormous business. There never was any
thing like this concern in the world. Those
clerks. like the boys, you see here began life
place. They, have learned All that they know
~han sipk and buripd whcn ,boy ia 10 ~ -,