The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-09-30
GREAT BUSINESS
WILL CELEBRATE
GOLDEN JUBILEE
GoldSmith's Department Store
viii Mark Half Century OF
Progress by Banquet to 700
EMPLOYEES October 6.

@isE'S ~
From a small one-room. poorly
lighted store, with the two proFrH-
tors the only clerks in 1870 To ls
nresent princely proportions WIN
floor SPACE measuring 30o,OOO Le"t
ana saIes running into millions every
wear covering the entire south, ~
me enyiable record of j. Goldsmith y
sons Co, department store, which VIII
celebrate its golden jubilee by pan
ouet TO its 100 employees at ScotGish
Rite cathedral, Wednesday, OCTOBER
at pm. -.
TIE history Of this noted store
its inception. growth and success ~
one OF the most fascinating Phses
IN Memphis history. II possesses
All the giamor and absorbing interest
~ me Medici or the Sforza, those
princeIy business houses of Italy.
who united at once the acumen OF
business men with the tastes OF the
antiquarian and art lover.
Jacob Goldsmith, the present head
of the firm, came to this country
in the fall of 1867. from near Mann
helm, Baden. He labored under the
handicap of youth, ineSperience ana
lack of English As compensaaons
he had high principles, great am
bition, a lofty vision of the future
and the spirit TO sacrifice sell TO
bring that vision into actually. FOR
three years he worked for an uncle,
o, II. Ottenheim, of the firm OF OF
tenheim & Swartz. working SIX
months for his board and lodging
and the rest of the time getting the
princely sum of $40 month.
An Anxious Day.
Mr.. Goldsmith worked early and
late, and, what was more import
ant, saved every cent he could. with
prophetic eye he foresaw the fu-
ture greatness OF Memphis. and that
the way to success was TO start
something. He and an older broth
yer. Isaac, had Jointly saved sooO:
This they put into a small STOCK OF
general merchandise at what was
then 81 Beale street.
Intense Anxiety.
The opening day was one OF In
tense anxiety to the embryo busl-
ness men. Il scarcely slept the night
before" Mr.. Goldsmith declared, and
eagerly scanned the sky for fear OF
rain or bad weather. The first custo-
mer looked beautiful to me, although
he was a commonplace looking far
mer, who purchased jeans coat for
SIS. Our total sales for the day
amounted to t35."
The plunge into the business world
did not alter Mr.. Goldsmith's frugal
. habits. He still continued to rise
with the lark and slept in the rear
of his little twenty foot front
place of business. MIR. Goldsmith's
. magnetic personality made him a
host OF friends, who would come
long distances to purchase from him
His trade grew steadily. Boale
avenue was unpaved, and often, after
Z a heavy rain. the street was morass
a The heavy OK carts loaded with cot
ton bales. for river shipment would
frequently get stuck In front Of the
modest store The city then had
about 10000 inhabitants.
Yellow Fever Days.
In 1873 the little business met with
severe handicap. Yellow fever
scourged the city and the shop WAS
closed Mr.. Goldsmith moved his
family to Brownsville. Tenn. and
j later, when tire disease became cpl
demic, there he took them to a cozy
cottage on the Pigeon Roost road
Having absolutely no fear of the
. maiadyA himself though his friends
around himiwere dying by the scores,
and realizing the great need Of many
for articles In his line, he would open
up the store for business for few
hours every morning, returning "a
his home each afternoon. In 1879
when the fever again returned with
renewed maiignancy, and the city was
PROSTATE, the store was closed for
. three months. and Mr.. Goldsmith
took his family to st. Louis. return.
ing in the fall when frosts had kill
| I'd the dreaded germs and the city
y was once more taking on new life.
After this temporary setback BUSH
FfAss rapidly increased, necessitatlng
a new store. In 1881 the structure
at 3is South Main street.-the num-
Der was changed later--uow occu'
lied by Land; ess Co., was occupied
Business continued to pour in. and
in 1854 IL became necessary TO Sc
cure the adjoining building at 35t
Main street. In this year Isaac, thu
senior partner. died. and shortly after
Jacob bought out the interest OF thu
widow. In 1894 expansion had beer
20 rapid that, for the first time q
home was erected for its exclusive
use al the present location OF Jen'
nings Furniture company, Main ant
Gayoso.
Prosperity Smile.
Prosperity continued TO smile OF
the enterprising firm, and in 1870
Nit was again necessary TO make 1
change, which brought II to its pres
ent location. The way Il was dom
aroused Interested comment all owe
the country, and was favorably com
mented upon abroad as a typica
specimen Of American hustle" !
bridge was built over Main street
with the following legend IN electri