Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-07-19
SSELLSTO BERRY
LATTER BUYS THE STORE, srocws
AND FIXTURES OF rHE roRMER.
THE PURCHASE PRICE IS SiR,ooo.
Possession 20 BE Given August 10th-s
Mr. saks VIII Not Centfnus IN
business In Richmond--He ExpIsina
His Reasons for Selling.

istered in this city for some considerable
time occurred yesterday afternoon, when
Mr.. o. III. Berry bought tho buildinys
fixtures. stock. and good will Of Messrs.
Andrew Saks & Go. The purchase prics
was $14sO00.
The transaction, indeed, Is almost unique
In the commercial history Of Richmond.
ior rarely, II ever, has such q large and
nourishing enterprise as the Saks' cloth
ing establishment changed hands so COM
pletely. The negotiations which led to
the purchase OF the property by Mr..
Berry have been going on since last May.
Mr.. Andrew Saks had every reason to
feel satisfied with his Richmond coanec-
ton. but he was approached by Messrs.
j. Thompson Brown & Co. the real estate
dealers, who tried TO induce him to open
a branch on Broad street, In the Masonic
Temple store, recently occupied by Messrs.
Woodward & Lothrop This suggestion
was the thin edge OF the wedge which led
eventually to the sale Of the property
above mentioned. and to the signing Of q
contract by Mr.. Saks not to conduct husi-
ness In this city in tho future.
THE TWO DEEDS FILED.
Two deeds filed in the Chancery Court
yesterday evening record the sale OF the
real estate. The first between Andrew
Saks and Jennie Rohr. his wife. OF the
city OF New York, parties OF the first part,
and Oscar III. Berry. OF Richmond, party
of the second part. witnesses that In con-
sideration OF the sum OF SIS 900 the parties
of the first part sell all that certain lot.
piece. or parcel Of land. together with
all the Improvements thereon, known as
'Saks' Building" lying on tho SOUTH
west corner OF Main and Eleventh streets.
fronting fifty feet, more or less. on Main
street, and running $50 feet 60 the alley.
being the same property that tho said
Andrew Saks bought OF the Planters
National Bank of Richmond. Va, on
January 27. 1896, which is duly recorded
I'm the Clerks office of the Chancery
Court, Deed-Book I56. page 292
incidentally 1t may be mentioned that
the war-tax on these two deeds amounted
to Sl2l9i. and the total cost OF recording
them 10 $1i595
The deeds were duly signed at o'clock
yesterday afternoon at the Westmoreland
Club. the papers having been prepared by
AIessrs. ]. Thompson Brown & Co. aud
counsel representing Messrs. Berry and
Saks.
CONDITIONS OF THE SALE.
An agreement entered into between the
two parties provides that Mr.. Berry shall
take $4,000 worth OF stock, and I'm addi-
ton shall pay $4,000 for fixtures and
goodwill.
Mr. Saks estimates the value OF the
stock now on hand at his store at $4,000.
Mr.. Berry has lease upon the store he
occupies at the present time which has
a year and a half yet to run. lie will.
however, make arrangements 10 move
into the Sakss store without delay, ana
It is his present intention to open shortly
after August 18th, on which date he is
10 take possession OF the largest empo-
rum Of gentlemens clothing south or
New York. Nearly all the employees or
both firms as they exist to-day Will DO
'etained by Mr.. Berry.
Mr.. Jacob Cans. however, who, since
MS brothers death has been manager OF
he Richmond store for Mr.. Saks. will gu
% New York or one OF the other stores.
'Ir. Saks was very emphatic when IL wax
during the negotiations thau
'ir. Gans's services should be retained by, .
'1r. Berry I'm his refusal 10 part with his
manager. He even went SO far as 20 saN
hat he would not accept $4,000 as tho
purchase price, IL such condition were
imposed
WHY MR.. SAKS SOLD OUT.
Mr.. Saks arrived In the city yesterday,
nd turned the building over to Mr. Berry
a person. soon as the deeds wcra
igned in the evening. To a Dispatch re-
orter who saw him at the jefferson
lst night. he said:
My reasons for selling our building and
usinesS can be briefly stated. Both mI
rother and desired 10 have Mr.. Cans,
10 manager here, absolutely free to aid
> in the management OF our various
-ores. In the event OF absence OF ons
our managers or ourselves, either by
ckness or being Off on n vacation, wa
lye in Mr.. Cans a man familiar with
ir affairs, and thoroughly competent,
q have really just attained manhood
ire, having been here twenty-one years.
I'd i am pleased TO say not one OF them
IS been Improbable. We sold 20 Nr.
erry the building, fixtures, and good.
i'll, together with $1,000 worth OF mer-
Iandise, and We have agreed under se-
re financial penalties 10 give posses
on on August 10Th next. In the mean
ne we shall use every effort 20 got rid
the balance of our stock.
cannot express 20 you how much I
ell indebted TO the people for their con.
ant loyalty 10 our firm and It's man
-ers here. We have the satisfaction OF
lowing that our leaving Richmond :a
gretted by many.
HISTORY OF THE HOUSE.
n relating the CIRCUMSTANCES under
ich he established store In Richmond,
. Saks said that he happened TO be In
city on visit twenty-one years ago.
was struck By the great need that
sted for an enterprising clothing store.
went into n ready-made clothing es-
'lishment, and was asked s25 for a suie
Il he was selling in his New York store
SIC. He rented the following day the
re at No. 1913 east Main street Mr.
liam Cans was sent here as manarers
Mr.. Saks says. IN no spirit Of braxga.
TO- that their methods fairly reyolu.
1lzed the trade. They inaugurated thu
price system, and guaranteed to re-
a money when the goods were found
satisfactory in any particular. The
a later on moved 10 No. 1908 east Main
set. and subsequently 10 the present
re. Mr. Jacob Cans succeeded his
ther upon the latter's death, nine years
az manager.
r. Saks says he is now virtually Mr..
ry's tenant, and he will sever his con-
ton with Richmond on the 18th Of
Just with great regret
HAVE A WORTHY SUCCESSOR.
reat as VIII be the regret at the de.
ture OF this firm from the city. IL Is
rec OF infinite gratincation that tho
e Is 10 be taken by one OF the sue
'ful businessmen OF Virginia. Mr.. y.
Berry, who is the sole representative
he nrm or q. III. Berry a. Co., lately