Los Angeles herald., 1909-02-07
MUSE PRESIDENT
FIFTH ST. STORE
PROMINENT CHICAG0AN BUYS
LARGE INTEREST
COMPANY TO GREATLY INCREASE
ITS CAPITAL
Big Local Establishment Will Carry
Out Ambitious PIans-New Chief
Widely Known Business
Man

Steele, Faris & Walker company
widely and favorably known as one of
Les Angeles largest and most progress
sive department stores and otherwise
known as the Fifth Street store, on
Broadway, will hereafter be known as
Muse, Faris, Walker company. w. E.
Muse of Chicago has purchased $751;
$1,000 of the capital stock of the COM
pany and becomes its president; r. M.
Walker, vice president; w. A. Faris,
secretary; F. I. Morris, treasurer.
The business was established about
three years ago by Messrs. Steele,
Faris, Walker, and other valued en-
ployes of a local department store.
Mr.. Morris, the treasurer of the new
family in the wholesale dry goods busi-
ness, st. Louis.
Mr.. Muse fills an important and con-
fidential position in the credit depart
ment of the Well-known wholesale dry
goods house of John v. FarwelK COM
pany, Chicago, whose business runs
into many millions of dollars annually.
4, came into prominence here in 1907
in connection with the failure of the
Central Department store. AS the act
i've trustee of that estate he Waged a.
successful warfare upon paries who
made every possible effort to prevent
the creditors of the Central store from
holding the valuable lease on the Broad
way premises occupied by the Central.
The case attracted wide attention
commercially.
Hon. Lynn Helm, in a most exhaus-
tive opinion, decided that Mr.. Muse and
his co-trustees were entitled to the
lease. Mr.. Muse financed the purchase
of some other assets belonging to the
bankrupt company amounting to about
100000 for the Fifth Street store. He
soon discovered the great possibilities
of Los Angeles as retail center, and
that the Fifth Street store was one
of the coming department stores of the
Pacific coast. As a result he becomes
an important factor in the Fifth Street
store and the retail business of this
city. He is enthusiastic concerning the
growth and development generally of
Southern California and expresses the
opinion that Los Angeles will have
population of over half a million people
in a few years.
Mr. Muse is a self-made man. AS a
boy he lived on a farm, clerked in a
country store, studied Latin while driv-
ing an old-fashioned mule cotton gin,
studied civil engineering and worked
with a railway surveying corps as rod
man and later as instrument man, read
law and was married before he was q.
At % he became partner in a small
mercantile business. AT Z5 was assist
ant credit man and attorney for a
wholesale dry goods concern. At 25
he was a junior partner Of the firm.
He is now profit sharer in one Of
the largest wholesale mercantile es-
tablishments in the United States, and
has important real estate interests in
Illinois, Missouri and Texas. Mr.. Muse
has had a successful career from his
youth up and is widely and favorably
known as an expert credit man, sue
cessful merchant, capable financier,
a good lawyer and a polished gentle
man with splendid accomplishments in
tellectually, financially and otherwise.
He is lifetime member of the Hamil-
ton club Of Chicago, and is the only
member Of the Muse family for sew
eral generations who votes the Repub-
lican ticket He is a brother of Hon. E.
B. Muse, district judge of Dallas, Texas,
and Judge ]. c. Muse, proinent law
yer of Dallas.
The Fifth Street store will speedily
increase its capital from $250,000 to
$500, 900, and expects to add a whole
sale department to its already rapidly
growing business. With this increase
of capital Muse, Faris, Walker COM
pany will be one of the largest depart
ment stores on the Pacific coast.