New-York tribune., 1910-11-30
Tn DISSOLVE STERN
BROS. AFTER YEARS
Louis Stern Buys Out Isaac ard
Assumes Full Control Of
Old Business.
LAST OF ORIGINAL MEMBERS
CAPITAL Increased from 7,5oO,-
600 to s1O,5OO,O0O-Reports
of Sale to Syndicate
Denied.

VI 0dxS W ny h>NANe"$o
Denied.
1t became known yesterday that the
corporation of Stern Brothers. 25d street.
New York. and Rue d'HautevilIe. Paris.
would be dissolved to-day. and that by
the retirement of Isaac Stern. the senior
member. Louis Stern WOULD become the
sole owner of the concern
At the same time the corporation cer-
tilted to the Secretary of state at Ale
bany that it had increased it's capital
stock from S7.5OOOOO TO $40 cJ00eDn The
certificate was signed by Isaac Stern.
president and Louis Stern, secretary
The corporation of Stern Brothers was
formed about forty years ago by isaac,
Bernard and Louis Stern when they open
ed small store on the ytest side of Sixth
avenue. a few doors south of I'D street
Isaac and Bernard had been in business
at Albany and Louis Stern gave up a
place with his uncle in Petersburg. Va.
to join his brothers. The progress OF the
business was rapid and it was generally
conceded that the success of the house
was due to the industry and the individ-
uaI efforts of the young men who COM
posed the firm. In 1878 the business had
cutgrown its home in Sixth avenue
which had been enlarged several times.
and the building now occupied in 25d
street was acquired. Several additions
have been made TO it. one of the most
important having been recently COM
pleted.
When Bernard Stern died about twenty
years ago the younger brother. Ben
jamin Stern. was admitted TO partner
ship. He retired from the business less
than a year ago. With the retirement OF
Isaac Stern. Louis Stern becomes the
only member of the original firm to re-
main in the business. His associates
are his sons Melville A. and Irving. both
of whom have for several years held
positions of Importance in the establish
ment.
When seen at his Office yesterday Isaac
Stern said that the dissolution of part
nership between him and his brother had
been agreed upon some time ago, AMI
that all rumOrS as to the business having
passed out of the hands of the family
were groundless.
Il have simply sold my share in the
| business to my brother. who viii con-
! tinue to conduct the business. / shall
retire from active work in a day or two
and take a little rest. after many years
of activity.
Mr. Sterns son-in-law. Arthur Fl
Hahlo, and his brother-in-law. Jesse
MichaeIs, who have held positions in the
store have resigned their designations
to take effect on the retirement of Isaac
Stern. 1t has been reported that julius
G. Kugelman. a brother-in-law of Louis
Stern. who for many years was at the
head of one of the departments in the
o3d street store. had also resigned.
Louis Stern was seen at his home. No.
GJ3 Fifth avenue. last night and said he
had bought out the interest of his
brother Isaac and would conduct the
business alone. AS to the reports that
the business had been acquired by New
York or a Chicago syndicate-both re-
ports having come to his notice-he sald
there was no truth in either of them. and
that he had not the faintest notion OF
selling or in any way giving up control
of the business. with which he had been
connected for more than forty years.
A represen Live of the United Dry
Goods Comranies said there was no
truth in report that that corporation
had acnuired control of Stern Brothers,
and that so far as he was aware no ne
eotfatfons were being conducted by the
United ComDanies for the acquisition OF
any other drygOOds concerns than those
already owned
I.ouis Stern. now in his siXty-fourth
wear was born in Germany. but came TO
this country with his parents as chllu.
He attended school in Albany. later
going 70 Petersburg. Va where he re-
manned until he came here to enter the
newly formed firm of Stern Brothers.
Since then he has become prOminent
among the business men of this city. He
has always been stanch Repuollcan.
has been president of the Republican
Club and was candidate for president
of the Borough of Manhattan on the
ticket with General Tracy. who ran for
Mayor in 1897.
In 1900 he was appointed one OF the
twelve commissioners to the Paris Ex-
position and served as chairman of the
executive committee of the New York
State Commission TO the St. Louis Ex-
position four years later.
Mr. Stern is closely associated with
every Jewish charity in the city. besides
being president of the Hebrew orphan
ASYLUM He is a director in number
of corporations. allied with the Metro
politan Museum of Art. the American
Museum of Natural History. the Amer
lean Geographical Society. and a MEM
ber of the Republican. Automobile, LOtOs
and Patrfa clubs.