Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-22
Will Cost Over Five Millions.

His new store, which IS going to be an
example Of pure Italian renaissance. will
be of white marble, as solid possible
and without external decoration. It will
be eight stories high, will have a total
floor area of GG0.000 square feet and will
cost between five and six million dollars.
The land alone cost two millions
This will be the largest department store
in New York with the exception of Wanna
makers new building, which, by the way
Is being erected by Daniel H. Burnham of
Chicago. Nearly all of the interior finish
ings and fittings, the heating apparatus
the elevators and so on, come from the
west. In 1880 the late A. T. Stewart be-
gan business on Broadway just below War
rem street with stock sof goods worth
500 in a store room 20 by 100 feet and
four clerks His successor Wanamaker &,
Co, when their new building is done will
have 100000 square feet, or thrty-one and
half acres of floor space, a stock of goods
averaging 100000 in value and nav
roll of $2750.oo0 a year. Among other
novelties for the attraction of customers
the Wanamakers will give daily free con-
cents In an auditorium capable of seating
l 200 persons, with an organ that will cost
$25, Goo.
The solid old wholesale firm of Fl. B.
Clafiin & Co, which was transformed into
corporation in 1892. with a capital stock
of 100000, is going into the retail trade
and is building a ten-story department
store on Bath street opposite the Waldorf
Astoria. The annual report of the treas
urer for 1905 which has Just been is
sued. shows dividend of IA per cent last
year and surplus reserve, or undivided
profits. of 81, 533, go The report shows
that from October, 1892. to December /,
1905 H. B. Claffin & Co. has paid dividen DIS
amounting to s., 735.67s.
A Department Store Trust.
Associated with the wholesale companv
is another corporation, composed of the
same stockholders, and with John C,la9tn
as president. for conducting retail estab-
llshments. 1t Is called The Assoc,a +ed
Merchants Company" with a capftaJ of
slo,ooooOO and surplus, or undivided
piohts, OF sl'l42,4l2 The net cash profits
lof the last six months of the wear 1oO5
Were $6o3,556, against $780, 1926 for the cor.
responding period of the previous year.
rms is the only department store trust
t tnau | Know of Several firms have es-
ADJUSTMENTS In more than one CITY hut
Inc Associated Merchants Cornpsnv own
apsoiutely or in part about thirty big do
partment stores in different cities of the
ally from time to time during the last Ave
or SIX years. In New York city they own
entire James McCreery's on ~, straat
oNeill & Co. and Adams & Co. on 9th ave,
nue., and c. G. Gunther's Sons tho f,r
store, on 9th avenue. They also own All
soutely the following stores in difreren+
parts of the country:
Hahne Company, Newark
Stewart & Co. Baltimore
Kastner IL Knott, Nashville
Bacon & Sons, Louisville
The Stewart Dry GooGs Co. Louisville
j. B. White & Co, Augusta, Ga.
The Fair, Montgomery, Ala
The Fair. Cincinnati
McCreery & Co., Pittsburg
Hengerer & Co. Buffalo.
Adams & Co., Buffalo.
The Lion Dry Goods Company, Toledo
The Spring Dry Goods Company, Grand
Rapids.
Powers Mercantile Company, Minneapo-
lis
Joslin & Co., Denver.
Cornell & CO., Butte, Mont.
The Peoples Store, Tacoma.
The other establishments In whiol III r.
Clafiin & Co. are more or less interested
are scattered quite as extensively over the
United States, but their names cannot be
given. One OF the managers told me that
the advantage OF the consolidation was
merely to secure the advantage Of lower
prices in buying goods. There is one CEN
trail purchasing agency in New Yori for
all the thirty establishments and the goods
are distributed upon requisition as they
are needed. Otherwise each store is in
dependent of the rest, has It's own mana
quarters in New York, where Mr. John
CIafin is president Dexter NJ. Force is
treasurer, George E. Armstrong, secretary
and John E. Games is vice president and
general manager.
f.xfn nod hat $rnY IN x >oS.