The Washington herald., 1907-02-17
Fortunes Which Disappeared
Wealth Disspated by Those Who Have Inherited It

if not the world. and its fame was GER
tainly worldwide.
After a few years the tide of retail
trade rolled nOrthward, and Stewart
moved his retail store away UP town"
TO Eighth street, housing IT in specially
constructed building and devOting the
downtown structure to wholesale BUSH
ness. It is now largely occupied by de-
partments Of the city government which
can find no place la existing buildings be
longing to the city.
IT is still an impressive building be-
cause Of the large ground space it occU-
pies. but rather squatty compared with
various nearby sl1yscrapers. The Tenth
street establishment is now away down
town. but It is still a great retail store.
though many other things besides dry
goods" are now sold over its counters.
Stewart was one Of the shrewdest and
oldest men of his times. He looked like
either a preacher or an 0ld-fashioned
gambler; he not only dressed in black,
but the expression of his face and his air
were always studiously sanctimonious.
These characteristics may have come
from the fact that when young he stud
led for the ministry. He was able t.
speak his mind unconventiOnally on oc-
casion, however, and there are still
in New York dry goods district.
He added immensely to his fortunes
In civil war times from the abnormal rise
in values incident 10 the conflict. Once,
however no failed TO profit by an adj
vance and lost nearly $4,000 in pTospec-
tive profits This was just before the
war, and was brought about by the
shTewdness and nerve of a farmer named
Jeroloman, who lived in Hilton, n. J.
This man foresaw the practically imme-
date breaking out Of the war. and that
war meant a great rise in cotton. Argu-
ing, therefore, that cotton would be a
good buy" Jeroloman went looking
after some of Il.
1t didn't take him long to find out that
a. T. Stewart & Co. had the bulk Of the
visible supply of manufactured cotton I'm
their store. Stewart himself was not
present when Jer0loman called but hts
partners sold practically all their mus
lin to the farmer It from J. TO J. cents
a yard. The aggregate cost was $33 Coz.
and JerOlOman had some trouble raising
enough money 10 bind the bargain. but
he did it, and gave his note for the bal
ance. He asked that the muslin be al
lowed 10 stay in the store till he called
fer it,
Within a few days Sumter was fired
upon and the price of muslin began TO
jump. A. T. Stewart & Co. found. when
they attempted 20 restock, that it had
gone up 100 per cent They sent for the
farmer and Stewart himself tried to get
him 20 give up his bargain, but in vain.
We'll" said Stewart after Jer0!0man
had offered 10 sell at 81 a yard. no lesS.'
you'll have to get your goods out OF here
at once"
The farmer said "All right" quietly
enough, but that made Stewart very
angry and the Interview closed with the
merchant prince swearing like d trooper
az the top of his voice. Next day Il pro-
cessiOn of wagons drove up 10 the Stew
art establishment and carted the muslin
10 the farmers New Jersey home. He had
to store the goods in his house. and they
filed it from ground floor 10 attic. lie
had 10 wait only a short time for his
profits. His first sales were made at =
cents a yard. then 30 cents. then . cents.
and finally at 81. When the last piece
was disposed Of he counted up and found
that he had made $4,000.
Soon after Stewart began 20 be termed
rich he bought a house on Blocker street
for his residence, and fitted It up so mag
nilitently that il became the talk Of the
whole land. Later he built the famous
house on Fifth avenue, at Thlrty-fourth
street. which still later was occupied by
the Democratic Club. That WAS in the
days Of Cookers proudest domination.
when that statesman demanded Of his
club followers that they should visit the
club nightly and wear evening dress,
which they were not in the habit Of wear
ing.
Mr.. and Mrs. Stewart had no children.
and their life in the Fifth avenue palace
was not what they had looked forward 10.
Many another self-made millionaire has
been able TO climb into the glories Of New
York society, but the Stewarts were not.
Mrs. Stewart, left alone most of each day,
surrounded by magnidcence and waited
upon by servants who looked down upon
her because she was so clearly unused 10
her splendor, and with no acquaintance
among the women of the citys rich fami-
lies. her life IS said 10 have been almost
dreary.
Her husbands business cor. ,nued TO
prosper to the day of his death. and find
ing that his fine house gave him no social
entTee, he stuck as close to his merchan-
dising in his later years as he had when
building Up. He was grabbed at the start;
at the finish he was impossible. I have
heard of a boy that was discharged by
him for the sole reason that he was so
bright and interesting that the old mer-
chant simply couldn't resist the impulse
to stop and talk to him whenever seeing
him. thus wasting both his time and
mine" as Stewart told the superintendent
Of the store when ordering the boy laid off.
Stewart did have some political acquain-
however. President Grant was
fond of him, and nominated him
to the Treasury portfolio, but the Senate
failed to confirm.
Death Brought DisintegratiOn.
Stewart died about thirty-two years ago.
and disintegration attacked the Stewart
fortune at once. The late Judge Henry
Hilton. who had been the merchants le-
gal adviser. was made executor Of his es-
tate and .beQueathed a million dollars
For years the newspapers gave much
space to accounts of its gradual decay.
But prior TO the first rumors that the es-
tate was going by the board came the
news that Stewards body had been stolen
from the cemetery at Tenth street and
Second avenue. That caused a greater
sensation than had been caused by any
thing Stewart ever did in mis- lifetime.
Also it gave Superintendent Walling. of
the New York police. a chance to make
himself famous which he did by the al
legged finding Of the remains.
The story of the Stewart millions dis
and the many side dramas
which accompanied It would fill a volume
as thrilling as the most thrilling romance
ever written. The Will was contested Wig
orOusly, and as late as 1903. twenty-seven
years after Stewards death, a court order
was issued for its photOgTaphing in order
that the photograph might be used as evil /
dence.
Albert Hilton, one of Judge Hilton's sons,
who was placed In charge of the dry goods
store, run under the style of Hilton.
Hughes & Co, became SO devoted TO
h. -.