The daily morning journal and courier., 1898-08-27
THE EDWARD MAL1EY COMPANY.
Joint stock Company Wn Conduct the Well Known Dry Goods Business. q

Weil known Dry Goous busihess'
 Arrangements have now been com pleted whereby William Neely retires from the firm of Malley, Nicely & Co.,, located at the corner of Temple and
 Chapel streets. MT, Nicely has been identified with the firm for twenty years and retires now, the co-partner- ship agreement having expired, with the good will and esteem of his former
 business associates and patrons of the
 firm. The old firm will now become
 joint stock company under the name of
 the Edward Malley company, composed
 of Edward Malley, president; Walter
 E. Malley, vice president and treasurer,
 and George B. Johnson, secretary, the
 latter being the former superintendent
 of the store, well known and popular.
 The new company is capitalized at
 $200, OO0
 The name of Edward Malley has been
 for nearly fifty years identified with
 one of the largest retail dry goods busi-
 nesses in New England, and the great ! success which has attended the efforts
 ot these successive firms is tribute
 to MT. Malley's honest dealing and
 strict adherence to business policy
 which has gained the admiration of all
 business men and won for him hosts of friends, who hope that continued sue cess will attend him in the new com pany.
 Forty-six years ago last March MT.
 Malley started what was called "The New York Store" his capital being $240.
 The store was on Chapel street and
 composed a single room, 20 by 36 feet in dimensions. For counters, pine boards, resting on barrels and covered with cheap cloth, suf1iced The only | mirror was pane of glass covered
 with black cambric. The force consist ed of MT Malley and a boy The lat ter was clerk, porter, errand boy and
 general handy man.
 But the energy of the promoter be- came infused into the business and it
 grew rapidly, In 1871 the original part of the present building was erected In
 1878 MT. Malley sold an interest in the business to William Nicely. In 1888 Mr. Nicely and Mir Bolton, New York dry goods man. purchased the active inter est in the company, and it was known under the name of the two gentlemen. Five years later MT. Bolton retired and the company became Neely & Go. Then MT. Malley's name reappeared. The | original capital has meanwhile grown from s240 to $470,000. eInstead of the errand boy, who was also clerk and porter there are now three hundred
 employees, with six delivery wagons, The store occupies the greater part of the block of Temple, Chapel, Center and Gregson streets.
 Now the joint stock company expects to yet further enlarge the building. Plans have been made for a new build- ing to be erected next spring on the site of the portion devoted to dry goods. Here will be built majestic edifice of eight stories, modern in every way and | arranged for the best service of the diff l ferent departments.
 A palm garden is to be made in the areaway and here afternoon tea will be | served shoppers. Other improvements are in contemplation.
 Edward Malley said yesterday: ''We | will cross the half-century mark as be- l fits firm of our size, in handsome | new home and with everything shop pers desire. We will continue to sell | goods at one price, that price as low as we can make it and live, and marked plainly on every article so it's one price | to ali''
 The new organization starts with the
 best wishes of the community for it's prosperity