New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-04-15
TUE HISTORY OF TIE FIRM.

TUE HISTORY OF TIE FIRM.
Mr. Stewart began business in $50, a modes ad-
yertisemcnt in The Daily Adcerfis~ OF september
. Of that year announcing that A. L. Stewart Of
fered for sale "a general assortment of fresh and
seasonablo dry goods at No. 2o3 Broadway lie
had rented one-haif of store, with frontage OF
twenty i've feet directly opposite the present Cha-
bers-st property Of Mrs. Stewart, but winch was
then the Washington Hotel. He was very success
full and in 1896 he removed to larger store
AT No. 262 Broadway He remained there only
short time, however soon Transferring MS STOCK u
No. 257 Broadway. There his business increased
wonderfully, and his treess energy and COM
mercial sacacitv put him in few years
81 the head of the drygOOds trade
Of the country. In 1873 he had accumulated
! 50 much capital that he was enabled to bulld the
| large marble store at Broadway AID ChanberS-st.
on the site of the old Warrington Hotel, which was
then the fashionable resort of the young men about
| town.
The new store was a tremendous advertisement.
People stopped talking about the Astor House.
which had been the wonder Of the day. to
gossip about Mr. Stewards great success. He
began to be called the 80 Merchant Prince" and his
business increased every year Fourteen years later
however, his business had outgrown those spacious
quarters lie resolved to anticipate the uptown
move by buying part of the old Randall farm,
bonded 10y Ninth and Tenth-ss., Broad
way and Fourth-avc. On these lots
he erected the siY-story building which has been
used until now The cost of the land and structure
was not far from So 100 600. II said 70 be the
largest retail store in the world. Al the time of
Mr.. Stewards death, on the eight floors about 1000
person were employed ard the running expenses
Of the establishment estimated at over
81 100000 a year. The business which Mr..
Stewart did in his two stores was simply enor-
nous. especially when compared with that Of othCr
dryg0ods men in the city The sales III the
two Establishments are said TO have amounted
to SOB 900 900 III three years. and the income OF
NJ. Stewart was the largest in the mercantile
world. In 1868 his income $1.900,o0O in
1864. 81 OCO,OOO in 1865, 81 500 900 in 1866,
5000. OOC-an average Of about $2,00O,O0O year.
When he was nominated lor Secretary of the
Treasury he estimated his annual income at
81 100000.
The business of the firm was worldwide. There
was a foreign bureau ut Manchester, England,
where all English goods We're collected. examined
packed and shipped TO TINS city, At Bel
fast, ireland. the firm had factory
where linens were beached At Glasgow there was
another bureau for the collection aud shipment
here OF scotch goods. In mdgaeiR Paris were
| collected French, German and East India goods.
| There were WO0llcn house at Berlin. and silk
warehouses at Lyons. The continental business
was centred in thc Paris Bureau. and al the pay
nents were made there. There mills in Eu-
rome engaged i'll manufacturing Tor the house Of
A. T. Stewart ~ Co. alone, and these
were rivalled bv others il this country.
There was a small army OF buyers and agents who
were constantly travelling from Paris TO Hong
Kong from Thibot 10 Peru The mills on this
side tie Atlantic included the Mohawk and Elbcf
Mills, at Little Falls. n. Y: the New-IOrk
Mills. at Holyoke, Mass the Woodward Mills at
Woodstock, Conn.,. and the YantIcO Mills at Yam
ticO, y. j.
TIE ASSIGNMENT TO JCpGE HILTON.
Four DAYS after the death of Mr. Stewart his
widow. in consideration of the o. ~ 100000
and for divers other good considerations" assigned
TO judge Hilton all her interest in the business
and property of the firm of A. T. Stewart y Co.
except the real estate in this city. 1t stated
that this was done in accordance with
the wish Of Mr. Stewart that the business
might be carried III the same
way as if he were living. Mr. Hilton and William
Libby one Of MIR. Stewards most trusted heutun-
ants. then formed copartnership under the old
firm name of A. T. Stewart d Co. The amount
paid by Judge Hilton to Mrs. Stewart was the sum
given to him by Mr.. Stewart in his will.
The certificate fled in the Registers Office on
April 49, 1876, sets forth that Conelia
NJ. Stewart. widow of Alexander T. Stewart,
makes the transfer for and in con-
.ideration OF the sum Of 81 100000 and for divers
other good considerations and particularly to carry
out the wishes OF her late husband, that the bust
ness in which he was engaged at the time of his
death NAV be continued and carried on the same as
if he were living; that the various and mex
eouted arrang. ments and contracts in reference to
TIE business of the firm contemplated by him and
in progress at tho time of his decease may be con-
tinued and completed; and especially that the
business of the firm may continue here
tofore for the purpose Of giving employment to the
many persons engaged The transaction
and management of the business of
the firm. and in accordance with the
wishes Of her late husband. The transfer
did not include any real estate in the City Of New
York but did transfer to Mr.. Hilton all real estate.
mills factories other property, real and personal
used n connection connected herewith without
the City OF New-Yoik
The articles Of cOpartDeTshp between Messrs
Hilton & Libby flied in the County Clerks Office
on the same day as the transfer Of property, set
forth that Henry Hilton and William Libby had
that day formed a coparinershp for the purpose
Of conducting a general mercantile business
in tho cities of New-YOTk, Boston, Philadelphia.
Paris LYONS Manchester. Bradford. Nottingham,
Belfast GlasS"", Dc'iH' OlcILli'N' anu ol''"Hoie,
in the United States and in the Kingdom OF Groat
Britain and Ireland and tho Cont
nent of Europe, and in other for
egn Countries that the principal place
of the copartncrship was The City Of
New-York; that the business would be conducted
under the firm name of 4. i. Stewart d Co.. by
Henry Hilton aud William Libby, the former being
the ASST nee and grantee of Corneha d. Stewart
The certificate OF transfer by Mrs. Stewart was
witnessed by Henry l.. Davies, and the articles OF
L n...-... III L-..L-rl.