Year: 1876

: which he purchased for cash, chiefly.
AT THE AUCTION SALES.


Mr.. Stewart was q regular attend


ant at these sales, and his purchase
, were invariably sample lots. He ha,


these goods taken to his store, and al
ter tho business of the day was oven
l he and his wife carefully assorted th,
sample lots and brought order out o
confusion. Every article was careful
r ly examined gloves were redresset
and smoothed out; laces pressed fire,
from the crcascs that careless bidder
had twisted them into, and hose wer,
made TO look as fresh as though they
had never been handled Every arti
Gle was thus restored 10 its original OK
cellcnce. The goods were then arrang
cd in their proper places on the shelves
of the store, and, being offered at 1
lower price than that charged by 9th
er retail dealers in the city, they had {


ready sale. Even at the low price th,
profit was great, as the goods had beer
purchased for mere trifle. For SIX
years Mr. Stewart continued his bust
ness in this way, acquiring every day
larger and more profitable trade. II
is said that when he entered upon bis
business he knew so little Of its details
that he was sometimes sorely embar
rassed by triAes. Once, it is said, be
accosted the late VIM Beecher, from
whom he bought many goods, MS fol
lows:


"Mr. Beecher, q lady came into my
store to-day and asked me to show her
some hose. did not know what the
goods were, and | told her that | did
not keep tho article. What did she
want?"


Mr.. Beecher laugbingly showed him
a pair Of stockings, and the young mer-
chant was convulsed with merriment
While yet in his first struggles in his
little store, Mr. Stewart found himself
called upon to make arrangements to
pay note that would soon become
due. He had neither the money nor
the friends from whom he wished to
borrow it. lie marked down every
article in his store far below the whole.
sale price. This done he had large
quantity of handbills printed, announc-
ing the sale of his entire stock of goods
below cost to be effected within Civ
On time. He scattered these bills
throughout the city, and it was not
long before purchasers began TO flock
to his store. They found the best
goods in the market at lower price
than they had ever before been offered
for in New York, and every one sent
his friends to avail themselves of the
opportunity.


The little Broadway store was filled
all day, and long before the expiration
of the period fixed upon for the dura.
tion of the sales Mr.. Stewards shelves
were empty and his treasury was iull.
He paid his note and laid in fresh
stock Of goods. He was fortunate in
his purchases at this tImc. The mar
ket was extremely dull and money was
scarce. The energy, industry, patience,
and business tact displayed by Mr..
Stewart in these first years of his com
mercial life yielded their sure reward,
and in 1928 his little store was no
longer large enough for the large aud
fashionable trade that had come to
him.


THE GROWING TRADEsMAN.


Three new stores had Just been
erected in Broadway, between Cham
bcrs and Warren streets, and he leased
the smallest of them and moved into
it. 1t was modest structure, three
stories in height and thirty feet deep,
but in II he was able to keep larger
and more attractive stock of goods,
and his business was greatly benefited
by the change. After four years IN
this store he moved, in 1882, TO two.
story store in Broadway, between Mur-
ray and Warren streets. Soon after
occupying it be was compelled by the
growth OF his business to add twenty
feet to the depth of the store, and TO
add another story. A year or two la
ter fourth story was added, and in
1887 fifth story. His trade was now
with the wealthy and fashionable class
of the city, and he had surmounted all
his early difficulties and laid the found
alton o. magnificent fortune.


The great crisis of 1897 found Mr..
Stewart a prosperous and rising man,
and in that terrible financial storm,
while other men were becoming bank
rupt, he was coming money. He al
ways watched the market closely so
that he might profit by any sudden
change in it. lie marked down all his
goods as low as possible and began to
"sel at cost" Everybody complained
of hard times and oil were glad IN