Evening journal., 1913-09-02
NEW NEWS OF YESTERDAY
The Merchant Who Origir-
ated the Bargain Counter
By Holland.

0T have always thought that Alexan-
der p Stewart. all things considered,
was the greatest retail merchant who
has ever done business in the United
States. said the late Hugh O'Neil, who
at his death left a fortune OF several
millions which was his 'honorable ac-
cumulation from business which be-
gan in little six by-ten shop on one
Of the side streets of New York city.
Il have always been very sorry that
the United States laws made it neces
sary for President Grant 20 withdraw
his nomination Of Mr.. Stewart for sec
retary Of the treasury at the beginning
Of the generals first administration.
"Nlr. Stewart was not only a marvel
ous retailer, but he was also a wonder
fully adept fnancier. He had no credit
because he did not ask for any. lie
always paid all his bills in cash and
thereby got the benefit of discounts. He
used to argue with some Of the great
merchants of New York in favor Of
doing business in this way, although
the general impression among compe-
tent business men was that the better
way is for business men TO do a part Of
their business upon borrowed funds IN
the form of hank discounts
u have always thought, too, that Mr..
Stewart was the real originator of the
modern department store. He was GER
tainlv the originator Of some Of the
ln q.
ment stores 80 amazingly successful
don't know of a retail dry goods mer-
chant who was such master OF original
details as Mr.. Stewart was, with the
possible exception Of Marshall Field, who
in all respects was the greatest mer-
chant in his day anywhere West OF
New York city.
"Now let me tell YOU little Incl
dent respecting Mr.. Stewards methods
which I was told Just about the time
I was beginning my own little retail
dry goods business.
Mr.. Stewart never permitted him
self to be exclusively an Office man
He was one OF the greatest and ables'
'noorwalkers' the United States has
ever had He was accustomed to go uI
and down the aisles of his store three
and four times a day. sometimes more
1t was his habit to watch customers
and to stroll slowly by them (they
not knowing that he was near so that
he might overhear what they said, anC
if possible get hints from It, He ha'
a marvellous memory for and knowledge
OF the stock he carried in all the de
partments of his big store and he oncI
said to friend that every day HI
learned some new thing,
"The incident to which / have jus
referred WAS the beginning of what j
now adopted in every great store
the bargain counter. One day, MI
Stewart patroled one of the aisles o
his store two OF three times, looking
intentdy az one Of the counters on which
/ certain line OF goods was offered 70
sale.
HE noticed that no customer ap
peared before that counter He pace
back and forth for more than an hour
and still no customer came 10 in
quire about these goods. At last h
asked one of the clerks what th'
matter with these goods was, VIII
there seemed 10 be no sale for then
and the reply was. Mr.. Stewart, the
don't seem to CO.
"'Well III make them goi" be re
piled He caused several long table
to he brought and placed conspicu
ously in one OF the main aisles The
he had his entire stock of good
dumped heller skelter upon thes
tables He had signs painted show
ing that these were special bargain
and that the goods would be sold q
cost or less. Within an hour thos
tables were thronged. Within tw
days every article was sold. NJ
Stewart thereupon began to displa
goods that were of slow sale upo
bargain counters. as he called ther
and In that way he converted speedil
a slow-selling commodity into cas-
There wasn't a merchant IN Ne
York at that time who wouldn't hay
been horror-stricken at the propos
tion that he dump a lot of slow-sel
ing goods upon a table, and then,
attractive signs, announce that thu
were to be sold AT cost or less. r.
Il was the beginning of the barga'
counter"
Copyright. 1918. by r. J. Edward
All rights reserved).
Tomorrow Mr.. Edwards will te
"How a Bank Was Kept Solvent
Oil Paintings
nnrcct WING