The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-09-15

work. His profits we're several million
dollars each year, aud at the time of bis
death bis fortaGe was estimated to be
about $50. 0o0 Geo.
Mr.. Stewar g enly partner was Will
liam Liboey, an cid employee, who had
become general naBagar with a per-
centage interest IL Sac business. When
the cid meTohant died, Judge Henry
Hilton, wao s. as first his legal adviser
and then his social guide and intimate
/ friend, was given full control Of the
settlement 99 tAac estate. Ills reward for
this was 70 be 81. 900, 0C0, but Mrs
Stewart, who was thsn 10 years Of age
and in feeble health, tarned over to him
instead Of this sum the vast dry goods
business entire.
The firm Of Hilton e. Iibbey oontin-
ued until 1892, when Libbey was drop
ped and two more old employees. Groo-
cock and Sylvester, were taken in. That
firm did not last long, for a year later
Groocock retired and the firm became
Sylvester, Hilton & Co. Judge Hilton
had retired, though, the name being con-
tinued by his son, Henry @. Hilton.
Edward J. DeHning, another old en-
ployee, was the other member of the
firm.
All this time the business had been
steadily shrinking, but in spite of the
fact that many of the mills and fac
tories had been closed it was still a pay
ing business When Judge Hilton re-
tired in 1888, he drew cut s., 500, 600
as profits, for in the meantime he had
obtained practica4 possession of the
whole Stewart fortune.
In 1885 two new members were ad-
mitted to the firm, one of whom was
Albert B. Hilton, and the other John
NJ. Hughes, respectively a son and
son-in-law of the judge. Three years
later the firm was again recognized
and still another sou Of Judge Hilton,
Frederick H. was admitted. Mr.. Den
ming was the managing partner. He
had been trained under A. Z. Stewart
and understood his business methods.
He did what he could to revive the bust
ness, but he was heavily handicap
ped. The Hilton boys were young men
who were fond of amusements and lived
rather a gay life. They did not attend
strictly to business and one Of them was
eventually retired from the firm on &C
count, it was said, of his extravagances
This left four members ia the firm.
During the business depression Of
1892 the firm found that 81 $50, 900 was
needed to keep it from going into bank
ruptoy. Judge Hilton, who stood behind
the firm and Endorsed all its paper, was
called upon to furnish the amount. Al
though several times a millionaire he
could not produce the ready money and
in order to get it he was forced to go to
Eetty Green. 1t was a hard bargain
that Hetty drove-the hardest that
Wall street had heard of for years. She
took blanket mortgage on the Stewart
block, propeEty worth at least SIS, 0oo,
600. The mortgage was fer Eve years
at per cent, so for the use of 1850,
600 in cash Judge Hilton must pay
1876, 900.
The crash was averted then, but fren
that timeson the fir1a was regarded as
somewhat shs4sT and the recent failure
was not much Of a surprise to the trade.
It means, however, that vast business
has been fritseFed away and that firm
that for half century had been consid-
cred almost as stable as the government
itself has passed out of existence.
CLARENCE p. SKINNER.