The New York Herald Newspaper, April 11, 1876, Page 4

< DTH O A. SEMA The Wealthiest Merchant in America Gone To His Rest. | SKETCH OF HIS EVENTFUL LIFE. A Remarkable and Successful Business Career. INTERESTING PERSONAL REMINISCENCES. and World-Wide Commercial Relations. Colossal AN ESTATE OF NEARLY ONE HUNDRED MILLIONS. prs SP dasa ay . Mr. Alexander T, Stewart, the great merchant and millionaire, died at bis marble mansion, corner Fifth avenue and Thirty-fourth street at half-past one o'clock yesterday afternoon. Mr, Stewart’s com- plaint was inflammation of the bowels, apd he had been seriously ill for nearly three weeks. For more thana | week his sickness had been considered critical by his | physicians, Drs. White and Marcy. To avoid attracting | troublesome inquiry, however, the knowledge of his condition was kept from the public during the progress of his fatal malady, Not until Sunday was his com- plaint considereg really dangerous, A change for the better wads looked for in the afternoon, and it did not come, So closely was the secret of his approaching dissolution guarded that the announce- ment of his death was « geveral surprise. It need | scarcely be added that it was, as well, a shock to the | tommercial world, through which lis immense busi- | tess interests had such extensive ramifications, It would be difficult at this moment to estimate tho | probable effect of such a death. It will doubtless | necessitate a radical change in the great firm in which his masterly intellect, now extinguished, had been so Jong the ruling power, The future alone holds the secret of that change, As to his charities their perpetuation is no doubt provided for in bis wi To inherit Mr, Stewart’s great wealth, which was probably equal to that of the late Mr. Astor, he loaves no blood relations in this country. His wife and a number of her relations gathered about his bed- side during his last hours, For two days prior to his demise Mr, Stewart had been in a semi-unconscious state, changing as his condition altered for better or for worse. He was altogether insensible for the two hours preceding his death, and he passed away without A struggle. The news of his docease spread throughout the city with great rapidity. In his own stores'con- siderable excitement prevailed on its reception, and they were mmediately closed. The news was tele- graphed to his mills and establishments abroad, and work in these was also suspended. in the financial world of Wall street Mr. Stewart’s death, Wis thought, will have no immediate appreci- able effect. He was in no sense a speculator, as that term is understood on the street, The arrangements tor the funeral are not completed. The body is to be interred in his family vault in St. Mark’s church, on Stuyvesant square, where the remains of his mother | and other members of the family lie. Thursday is the day appointed for the burial The services will be held in the church, which ho has attended since his marriage, He was brought up a Quaker, but at his marriage became, with his wife, a member of the Prot- estant Episcopal Church. SCENES AT THE DEATHBED. Drs, White and Marcy, Mr. Stewart’s family phy- Mecians, state that a week ago they entertained but little hope of their distinguished patient's recovery. The malady from which Mr. Stewart was suffering prostrated him very much from the first, and, although all that patient care and medical skill could accotnplish was done for him, ho sank rapidly. For the last three | y his health had been botter than for a long sme previous, and those who krew him weil prophesied fér him a long lease of lite despite the fact that be was nearly seventy-four years of age. Three yeurs ago this spring he was very seriously ill, and he then asked his physicians what his prospects were for living any length of time, He was informed that they were not very assuring, Whereapon he sot about arranging-his business affairs, So thoroughly did he perform the task of settling his affairs that the other members of the firm say the business wiil not suffer any interruption whatever, but will be carried on as before. AS bas been said before, Mr. Stewart's condition was past all human remedy a week ago. Ho was informed of this fact, but to the last persistently refused to permit the public to be made aware of it Last Sunday morning be was so low that his demise was moment- arily looked for, but still he held out, and, to the sur- prise of his medical advisers, survived the night, THK DEATH SCRXE. One of bis physicians, his family and his faithful but- ler, William Smith, remaied constantly by his side, During the forenoon yesterday he grew very feeble and gave uamistakable evidences of rapidly approaching dissolution. He had not been wholly conscious for the | past forty-eight hours, although at times he asked for tome httie thing he wished, About twelve o’clock he spoke to bis physician and askea for some nourish ment, but after this he seemed wholly unconscious, and, at thirty minutes past one o'clock, he passed peacefully away, From the first he did not seem to | saffer any great pain, and, although iniormed several flays ago that he could not live, he bore up with all that fortitude and patience that had ever characterized bis character. | At the moment of death there were present in the | toom Mrs. Stewart, her brother, Mr. Clinch, and ber | two sisters, the Misses Clinch; Mrs. Judge Smith, a | niece of Mrs, Stewart, and Mrs Butler, a grand niece; | Mrs, Judge Hilton and ber daughter, Drs, Whue acd | | | | Marcy and William Smith, the butler. THE ROOM IN WulcH UX DIED, The room in which Mr. Stewart diea 1s what is known in the house as the “Jace room.’’ It is an ob- long apartment, fifteen by twenty feet, and 1s situated ‘nu the southwest corner of the building, on the second floor. There are threo windows opening from | the room, two on the Thirty-fourth street front and ove on the west end, overlooking the yard and areaway | between the house and that of Dr. White next door. | {wo doors open into the room from a hallway which Funs through the centre of the building, and another Goor leads from the room to a dressing room situated Mnmediately over the main entrance in Thirty-fourth Street, The bed on which Mr. Stewart died is of the most elegant description, built of solid rosewood and Mnlaid with gold. It sat in the centre of the room, be- tween the two doorways, with the head facing the | Borth. Besides the furniture usually found in an apartment of this kind, and which is of the most ele- gant description, uphotstored in biuo and buf, there Was a rosewood wardrobe standing at the foot of the bed, between the windows opening on Thirty-fourth Street, and a sofa sitting in the southeast corner, SKETCH OF m3 LiPx Alexander T. Stewart was born im the county of Antrim, Ireland, at a homestead distant a few miles from Belfast, December 12, 1803 His ancestry was of Protestant, Saxon stock, which had long before gettied in the North of Ireland, where his father was an extensive landowner, Yourig Stewart was an infant only three days old when his father died, and itisto bis early training and theexcellent example of his mother that he owed many of those prominent traits of char. acter which distinguished him throughout his long @areer. The boy was of quick parts, apt to learn and fond of study. As he advanced toward maturity he displayed great proficiency at school, evincing a strong taste for classical studies, and this caused his grand- father to take a great interest 1p the lad and send him to | the best schools which could be obtained. Having | finished his preparatory siudies at an academical insti- | tution in Belfast, be entered Trinity College, Dublin, ‘with the intention of fitting bimselt for the ministry; batat the expiration of his second term bis grand- died. This bad the effect of disarranging ail Lis hie withdrawal from college being the inimediate malt of his Grandiather’s deatu, te was but entirely e : | bers street, now known as without means, however; bat, as he afterward ex- pressed it, he felt **cribbed, cabined and oonfined”’ in the old land, and so he determined to emigrate trom the Old World to the New, At the time he was about six- teen years of age, well educated, active and healthy. ARRIVAL IN SEW YORK AND EARLY LIPE HERE. Mr. Stewart bad fewer biographers than most men as successful as he, but nearly all these begun their sketches of his career with this event in his history. In a work called “Great Fortunes and How They Wero Made,” he. is landed on our shores in the following grandiloquent style:—‘‘In the year 1818 an European vessel anchored in the harbor ot New York after a lovg Weary voyage from the Old World, She brought many passengers to the young metropolis, the majority ot whom came with the intention of seeking fortunes in this land of promise. Among them was & youug Irishman, who had left bis home in his native land to seek in America the means of bettering bis con- dition, This was Alexander T. Stewart,” This climax is very deftly reached, and in view of the great fortune which Mr. Stewart afterward amassed it may be re- garded as a matter for regret that it is not true; but the truth 1s the boy came here with no such intention, He came to America without any distinctive purpose, and at the time a scholarly aimbition was his only aim, He was in comfortable circumstances, and for several years he led am easy, desultory life, bis only occupa- tion being with his books, He suffered no early priva- tions, was neyer compelied 10 struggle for bread, and did not go about with inquisitive gaze looking for some opening path to fortune, “After trying in vain for some time to secure employment in a basiness house,” says ono of his chance biographers, “he obtaincd a position in a commercial school. ‘This he soon resigned for a similar place in a more celebrated school, His salary bere was $300, which was con- sidered ample compensation in those days,’? Another biographer adds that Mr, Stewart was able to save some money out of his meagre salary. The oply foun- dation for shis story 1s the tact that during his years of easy pleasure and study inthis city he took charge temporarily and without compensation of a school at No, 7 Roosevelt street on account of the illness of the teacher, As the latter died Mr, Stewart continued to fill the place tor some months, but he never accepted any compensation tor his work, MIS PATRIMONY AND HOW UE INVESTED IT, When Mr. Stewart reached his majority he deter- mined to return to Ireland to receive bis patrimony, upon the interest of which be haa boen living in New York. Before starting on his return he spoke of the object of his contemplated visit to Ireland to Mr. Chambers, then well known as a buyer at auctions for several business houses in this city. “How much is your patrimony?” asked Mr. Cham- bers, “about $10,000, 1 suppose,” answered Mr. Stewart, “A swag htile sum. What do you intend doing with ne “Invest it here and live on the income,’ “You can do better.”” “How?! 'Go into trade.” ‘Nonsense. 1 know nothing about trade, I can’t even buy a hat ora pair of gloves without gotting some one elge to pick them out for me.”? “stuff,” ejaculated Mr. Chambers, “Do as] tell you. Go to Belfast and buy insertions and scallop trim- mings, Spend all your fortune m them and you will double your money.”” Arriving in Ireland, Mr. Stewart found that his pat- rimony had been diminished to $5,000 by bad specula- tions of his guardian, This circumstance led bim to adopt the advice of Mr. Chambers, and when he re- turned to New York his entire patrimony was invested 1 Insertions and scallop trimmings. The two friends determined to go into business together, Stewart act- ing as salesman while Chambers made the outside purchases, The first difficulty was in finding a store- room suited to their purpose. They looked through Pearl and Hudson streets, the centres of the retail trade at that time, but found the rents too high for them. Finally, No, 283 Broadway was advertised “to let,” the rent demanded being $3' This was consid- ered too high also, but it was determined to take the place, and this is the way A. T. Stewart began his great career and laid the foundations of his trade, MR, STAWART’S FIRST STORFROOM. No, 283 Broadway, where Mr, Stewart began busi- ness, was in an old wooden tenement directly opposite the downtown ostablishment of A. T. Stewart & Co. The room was about 22 feet wide and 20 deep. It was next door to the celebrated Bonafantl, whose splendid stock and harmonious poetry made him a great favor- ite with the fashionable dames of New York. fan or opera gloves, a card case, pocketbook, purse or eye- glasses must be purchased of Bonafanti, As Stewart kept hosiery, laces, silks, gloves, ribbons and the cost- fer fabrics only, his storo not being large enough to permit him to deal in the great stuples, this contiguity to the fashionable business piace of the city proved very fortunate for him, and is perhaps one of the secrets of his success, Mr. Stewart's pur- chases were mostly made at auction, and he soon acquired the reputation not only of being the best | Judge of laces in New York, but of selling the best goods at the lowest prices, At the auctions he always bought the “sample lots,’ or what were called “tum- bled Jota.” The name arose from the fact that at a great “shelf sale’ samples were flung upon the table betore the auctioneer, which the buyers stretched, pulled \d handled until they were often soiled and torn, It was Mr. Stewart’s custom to stand near to the auc- tioneer, and as he invariably purchased the sample Jot, which seldom went for more than half price, he took all tue care of them, especially the laces, which it was in his power to give. It was such pur- chases as these which he conveyed to his little store, and as he was very ex- pert in redressing yup gloves, laces, hosiery, &e, he would soon make his sample lots equal to the original goods, ‘Then followed the triumph of the patient tradesman. He could undersell anybody in that trade, of course, and ladies of fashion were oot Jong In finding out that fact In this modest way he workea along, slowly but surely, and being regarded on all bands n honorable, attentive and industrious beginner, he soon secured not only a profitable bat a fashionable trade. The Misses Mason, Joues, Prime, Jay, Hones, Gracie, Crosby, Stuyvesant and others of their set were his constant patrons, and his famo in- creased with bis business and the quality of his cus- tomers with his fame, - MR. STKWART'S OTHER STOREROOMS, During these years Mr. Stewart oceapied a number of storerooms, but all of them were in the immediate vicin- ity of bis place of beginning. His first removal was after he had been three years in business, when he wont to No, 262 Broadway, three new stores having been | erected between Warren and Chambers streots. ntijack Weems moved into the corner store, Fountain & Co, moved next and Stewart into the third, His was only thirty fect deep, The rest wero their present depth, and all only three stories high, but occupied above by families. In this store Stewart continued until 1832, when he moved down to a two story store between Murray and Warren streets, at No, 257 Broadway, His business increased so rapidly that he had to enlarge his store by deepening it an additional twenty feet and raising it to three stories, In the course of five years he was obliged to deepen it thirty feet more and put on two more stories, making !t five stories in height, Here he continued until the building at Broadway and Cham- @ Wholesale house, was ‘The downtown store of A. T. Stewart & Co. was first occupted 1m 1848 The site 1s. historic one, Washing- | ton Hall, which will be remembered by old New Yorkers as a fashionable resort some forty years ago, where the young bloods of the day used to meet, drink, talk, smoke, dino and wino, and which in fact served all the purposes of & club be- fore those useful inetitutions came in vogue | here, mood on this block, and ft was this | which Mr. Stewart purchased of young John Coster for $60,000 tor his new palace, He also secured two tots and the cost of both the ground and the was less than $300,000, His retail business ‘was continued at this place for fourteen years, the magnificent structure at Broadway and Tenth street ot being occupied till 1862. The latter establishment, which completety fills the block, 1s valued at $3,000,000, It ts leasehold property, being part of the old Randall farm and is beld Sailor's Snug Harbor leases, ‘TRE TENTH STREET STORE. Stewart's Tenth street store is the largest establish: ment of the kind in the world. There is nothing of the | sort in London and Paris which at ail approaches 1th There are eight foors— two below and six above ground, each covering am area of two wud one-quarter acres— | thus making a total of eighteen acres, devoted to retail dty couds purposes, Jt requires 620 borse power to heat the building, run the elevators and work the | sewing machines, which are all placed in a row on the fourth floor, There are about 2,000 employés under pay. Tho disbursements for renning expenses are over $1,000,000 per annum. ‘The wholesale and retail establishments combined have sold as high as $79,060,000 1n one year. ‘At present theyprobably rua in the neighborhood of $33,000,000 per annum. IN THR PANIC OF 1837, In 1833 Mr. Stewart was already worth $1,500,000, so that few of our merchants were so well able to stand the panic of 1837, when all was gloom and confusion !n the commercial world. Everybody was breaking, but “Stewart,’? says a lively writer, “was as lively in the crash of commercial elements as @ stormy | petrel in a hurricane.” His action in that crisis was characteristic of the man, He re- duced his stock to cost, and sold for those prices. Ginghams and such stuffs, that he had been re- tailing at thirty-one o per yard, he.sold at twenty cents; calicoes in the same proportion, What wag the consequence? Old women who had “stockinged”’ their gold and silver marched to Stewart’s to take advantage of the sucrifices that merchant was making, and though they did not want the goods, yet, like Mra, Toodles, they might “want ’em one of these days.” Stewart was overrun with casb, He took the same money received for goods sold at cost, went into the market and bought the same style of goods, calicoes, &c., that he bad sold tor forty per cent jess than ho had obtained! In one purchase be bought $50,000 worth of silks, half cash and half sixty days, for sixty per cent less than the cost of the silks to import. On this one transaction he realized $20,000, During all | that disastrous panic Stewart retailed every day over $5,000 worth of goods. MR. STEWART DURING THE WAR, Mr. Stewart's business increased so rapidly after tne panic of 1837 that in 1860 bis wealth was estimated at | $20,000,000, When the rebellion broke out many per- sons thought that he would suffer heavily by the loss of his Southern trade, which formed a very important | part of his business; but the shrewd millionnaire was | equal to the emergency. He forcsaw the demand which would ar'se for all materials of war, and he pro- ceeded to engage from nearly all of the manufacturers their entire productions for several months in advance, When, therefore, the United States government came into the market ho was almost the only man with whom they could contract for uniforms, blankets and other materials, Although from these contracts he is saidto havo made many millions of dollars it 1s un- doubtedly true that his terms with the United States | were more livcral than those of other contractors, MR, STEWART IN POLITICAL LIFE, During his carlier yesrs. Mr, Stewart took little in- terest in pulitics, but throughout the war he was 6p unflinching friend of the Union and a great admirer of General Grant, It was not supposed, howover, that he had any political aspirations nor any political prospects, | But upon General Grant’s accession to office in 1868 the President namod Mr, Stewart for Secretary of the Treasury, and the veteran merchant was Willing to ac- cept the position, but he was prevented by section 41 ; of the act of 1789, which is as follows:— No person appointed to any office instituted by this act shall, directly or indirectly, be concerned or interested in carrying on the business of trade or eummerce, or be owner in whole or in part of any sea vesvel, or purchase by himself, or another in trast for him, any public lands or other public property, or be concerned in the purchase or disposal of auy public securities of any r of the Cuited States, or take or apply to his own use any emolument or gain for negotiat- ing or transacting any business in the said department other than what shall be allowed by Jaw; and if any person shall offend against any of the prohibitions of this act he shall be deemed guilty of # high misdemeanor and forfeit to the United States the penalty of $3,000, and shall. upon convie- tun, be removed from office and forever thereafter be inca- pable of holding any office under the United States; provided if any other person than a public prosecutor shail give information of any such offence, upon which @ prosecution ‘and conviction shall bo had, one-half of the aforesaid pen- alty of $3,000, when recovered, shall be for the uso of the person giving such information, When the matter was brought to the attention of General Grant, our correspondence of the time informs us thatthe President took it very coolly, and said it could be fixed up without trouble. It was one of those unforeseen little obstacles, he said, which spring up occasionally, but he woulda brush it away without de. lay. He said thag he would send in a message to Con- gress next day, recommending the repeal of the ob- noxious section immediately, and had no doubt Con- gress would act upon his recommendation promptly, But Congress refused to accommodate the President in the matter, and so 1t was impossible for Mr. Stewart to accept the place. The meeting called ig. this city to nominate President Grant was held more through Mr, Stewart's exertions than those of any other man, and the only time he consented to accept the suffragos or the people was in 1868, when he was on tho republican ticket for Presidential elector. WS REAL ESTATE, Mr. Stewart was probably one of the largest real es- tate owners on this continent, but it is impossible to give it at present in schedule form or to correctly esti. mate its value. The following list, however, will give some idea of the immense amount of capital invested in thut class of property, and although not by any means complete, represents in itself many fortunes, He owned the marble structure running from Broad- way to Reade street, now used as a wholesale estab- lishment; the retail store, occupyiig a complete block bounded by Ninth and Tenth streets, Broadway | and Fourth avenue; the Metropolitan and | St. Nicholas hotels; the Globe Theatre, , on | Broadwi Niblo’s) Garden; his mansion on Fiftu avenue, corner of Thirty-fourth stroct; almost alt of the buildings extending from Broadway on Bleecker street to Depau row; the Amity atreot Baptist church, the Grand street Presbyterian chureh, several dwelling houses on Fifth avenue, §,000 acres of land on Hempstead Plains, now known as Garden City, with the villas, &¢., variously estimated at being worth from $8,000,000 to $5,000,000; an immense amount of mull property at Glenbam, near Fishkill Landing; the Union Hotel at Saratoga, the most gigantic bostelry in tho world; the Hotel for Workingwomen on Fourth avenue and Thirty-second street, besides almost innumeravie houses in this city and tracts of suburban property as well. MR. STEWART'S PERSONAL LIFE. Mr, Stewart was married Ofty-one years ago to Miss Cornelia Clinch, of this city, who survives him, Sho was tho daughter of Jacob Clinch, of the irm of Jones & Clinch, at that time ship chandlers in Wall street, | They nad two children, a son und a daughter, but both | died im infancy. Socially he was among the most | agrecable of men, and from his magnificent mansion in | Fifth avenue he dispensed an elegant hospitahty. In the later years of his life Mr, Stewart often went back | to his early studies and ho took groat pleasure fp eur- rounding bimselt with paintings and works of art. His picture gallery 1s one of the finest in tno city, His | tatest acquisition is the famous new painting by Meissonier, called the “Charge des Cuirassicrs,” rep- resenting a body of cavairy charging past Napoleon | and his staff, who recognize the involuntary burst of enthusiasm from the men. The painting i the largest | that has been sent from tho studio of tnis | artist, being cight feet across by four and a half | | fect in height, and a human figure in the foreground is | eighteen inches high. It cost in Franco $60,000, gold, and with duties, expenses, gold premium, &e, &, cost Mr, Stewart $75,000. Meissonicr looks upon this | picture—‘1807,” as he styles it—as his cnef-d'euvre, Ina charming letter to Mr. Stewart, dated Boissy, January 27, 1876, the distinguished artist says:—"l have faith in my work. Timo will consolidate and strengthen it more and more, and I am also certain your enlightened love of art will protect it in case there should be need,” SINGULAR CHARACTERISTIC OF THE MAN, Perhaps the most singular characteristic of Mr. Stewart was bis alloged superstition or belief in luck and lucky persona. Bearing upon this subject many Curious stories are told of him, some of which will | Dear repetition, When he kept his store on Broadway, | between Murray and Warren strects, there sat on the sidewalk before it, on an orange box, an old woman, whose ostensible occupation was the selling of apples, ‘This business was, however, merely a pretence, the | main object being beggary. As years rolled on Mr. Stewart became impressed with the idea that the old dame was his guardian angel of good luck, and this impression took #0 firm a hold upon his mind that when he removed to Chambers street he, in person, ‘ook up old woman’s box and removed her to the front of his new establishment. In further illustration of Mr. ‘Stewart's faith in the Irish traditional belie! in “lucky” | and “unlucky” persons it may be mentioned that after | the completion of the St Nichoias Hotel in this city, an undertaking {a which he was largely interested, } and when the buslding was just about to be opened for | the reception of euests. the miiiinnaire standing im + mediately. 4 NEW YORK AERALD, TUESDAY, APRIL 11, 1876--TRIPLE SHEET. the drawing room, ejaculated, “It is now finished; & hope its first visitors may be lucky people.” A se0- tleman present, who had beard of Mr. Stewart's care for the aged apple vender, remarked, ‘'! pres! sir, you do not in reality care about lucky urunlucky per- sons,” to which he immediately replied, “Indeed I do, There are persons who are unlucky, 1 sometimes open acase of goods and sell the drst from it tosome person who is unlucky and lose on ittotheend. I frequently see persons to whem 1 would not sell if 1 could avoid 1t,”” HIS CHARITIES, -Mr. Stewart practised unostentatiously, many acts of charity which the world knew nothing of, During the period of tho famine in Ireland he sent over to thet country acargo of provisions amounting to $20,000, and invited, free of charge, as many young poople as could be accommodated comfortably, to a passage on the returning vessel, One hundred and thirty-nine availed themselves of this generous offer, among them fity young females. Ina few days after their arrival, Mr. Stowart procured them all situations and made them comfvrtable and happy. He also aided many charitable enterprises and was ever anxious to benefit the every day life of the working members ot the in- dustrial population of Now York. Tae wiLl, By the provisions of his will, drawa some time since by his personal friend and legal adviser, Judge Henry Hilton, the great merchant prince of America directod the future course of the house be had founded and to which the best energies of his life had been devoted, It provides that the man who accompanied him on his trips to Europe, who was his confidential adviser in all business uffairs, the one above all others who can direct the future business of the house of A. T. Stewart & Co,, shall conduct the business of that firm under the same name. That man is Judge Hilton. He is associated with Mr, William Libbey, his only sur- viving partner. Mr. Libbey came into tae employ ot Mosers, A, 1. Stewart & Co, be- tween twelve _ and filteen yeara ago a8 business manager of the New York wholesale house at Broadway, Chambers and Reade streets. A few years after his admission Mr. Wilnam Libbey was admitted as a partner of the house and placed in charge of the down town store, At that time the merchant prince haa extended his business to every portion of the world. Tho firm = directed | by that master mind was composed of the principal, | Alexander T, Stewart, of New York; Mr, Worden, of Paris, France; Mr. Fox, of Manchesier, England, and Mr. Libbey, of New York. Toe houses controiled by the firm were located at Boston, Mass, ; Philadelphia, Pa. ; Paris, France; Lyons, France; Manchester, Eng- land; Bradford, England; Nottinghum, Eogiand; Beliast, Ireland ; G.asgow, Scotland; Berlin, Prussia; Chemnitz, India; and New York. It was a peculiar feature of A. ‘'T. Stewart & Co., that they considered thoir houses to | be so well known to the people of the world, that no signs or indications of the firm namo were never al- Jowed to appear in the tront of their places of business. THURLOW WEED'S RECOLLECTIONS. Areporter visited the venerable Mr. Weed, a life- Jong friend and associate of Mr. Stewart, He met the reporter in hig study and gave the following interesting | reminiscences of their soctal intercourse:— | “My acquaintance with Mr, Stewart,’’ said Mr. Weed, | “commenced in 1837, at the Astor House, where, for fifteen or twenty yeurs, he dined regularly six days in the week. His store was then in Brosdway, near the | corner of Murray street. The acquaintance soon grew into an intimacy, which continued for more thhn thirty years. Out of his store his manner and con- versation were gonial and particularly interesting, for, besides being a thorough business man, he was cultivated. and fefned, It was evident even then that he was to become a man of | mark. In his store he was wholly absorbod with business, Out of it ne was an agreeable yentie- man. He foresaw clearly that his habits of industry | and enterprise, aided by intuitions which made him master of the situation, would lead to resulte which have been more than realized. I frequently listened ‘with admiring interest to bis modes and methods of | business, I remember that be regarded as among the most important mercantile principles that of hav- ing as little dead stock as possible on hand. To avoid tho loss of capital in this respect bis habit was, toward | the close of the season, to “mark down” prices so low as to insure the sale of articles which most merchants | find on, their hands, He was, 1 believe, among the | first to establish the one price principle. Another. secret of his success was in his wonderful executive | abilty. He kept himself personally acquainted with | the cost and varying value of every articie in his store | “As carly as 1850 his success had been so great that { he began to be anxious avout the disposal of his for- tune, Having no children and but few relatives, he was anxious so to dispose of bis moncy as to beuefit the industrious classes, or, in other words, to help j those who, while they endegvored to help themselves, | had not been fortunate in the battle of life, But ha | was too much absorbed in business to mature any | plans, After my retern from Europe in 1853 I informea | Mr. Stewart of the manner in whicn George Peabody | had determined to dispose of his fortune. In this he | ‘was much’ interested, and the first time ho visited London attorward hoe conferred with Mr. Peabody, and after 1860 gave his thoughts aoxiously to the qu tion as to what he should do with bia large estute. The large business ‘in which Mr. Stewart was engaged | claimed so much of his time and attention that Sunday | was bis only day at home. For more than fifteen years | while he resided in one of a block of butidings that he | owned in Bleecker street I was, whenever in New York, | a guest at his Sunday dinner table, On these occasions | always three or four iatimate friends, with Mra, Scewart, © were seated at a table abundantly supplied with every delicacy of the season, served quietly but in good taste. Here Mr, Stewart appeared at his best. His conversa- tion upon social and literary subjects evinced rich and varied information. I anticipated those dinners with much pleasure, and rememoer them with much interest, I had soveral occasions, during my intimacy with Mr. Stewart, to present appeals for the relief of the unfortonate or in ald of meritorious objects, to which hoalways responded. I was careful, however, to pre- sent only such cases as 1 was quite sure would com. | mend shemseives favorably to his judgment. Wo made an annual New Year's application to Mr. Stewai for “remnants,” &c., &¢,, for the poor, and he re- sponded abuncantly and cheertully. When I went to Paris in 1861 with iny daughter, Mr, Stewart gave usa letter to his partner, Mr. Worden, with whom we be- came pleasantly acquainted, and from whom wo re ceived attentions which, if 1 folt at liberty to explain them, would show how largo fortunes are made, “During our residence in Londou Sir James Emerson Teannant, whom I was dining, learning that I was acquainted with Mr. Alexander T. Stewart, said that they wero natives of the game village of the North of Jroland aud were educated at the samo school, that Mr, Stewart's family was a highly respectable one, that his early associations were in the best classes und that he received a liberal education. He sent kind messages to Mr. Stewart, and expressed the hope that when Mr, Stewart again visitea Ragland ther early friendship might be renewed. “Mr, Stewart, though largely concerned with the South in his business ugements, became an early, efficient and fearless supporter of the government ai the Union from the moment that Fort Sumter was fired upon. He was outspoken in the expression of his opinions and liberal in his contributions from the beginuing to the end of the war. Ina dark period of the rebellion | was suinmoned to Washington by tele- graph by the Secretary of State, who, on my arrival, informed me that the President desirea to sce me im- Mr. Lincoln, whom I sammoned from his Dreaxiast table, informed me that $15,000 wus required for purposes essential to the public welfare, bat which could not be lawiully taken from an appropriation under the control either of the President or the heads of departments, and tnquired whether 1 could immediately procare the money from patriotic friends. Not dounti my = ability | to meet this emergency, | took the first train to New | sai curiosity-seekers, who blocked the sidewalk even | York, Mr. Lincoin banding me before I left the White | anor th ening papers announcing the death were House a brief note, On my &rrival in New York I | called apon Mr. Stewart, in co tation with whom fifteen gentlemen were named from each of whom it ‘was believed $1,000 would be contributed. The result, | 1.4 suspended operations, Soon the army of clerks, as will be soon by the following, justiies our expecta- tons. Each of the fifteen gentlemen named cheerfully | cuicxiy lost sight of in the great mass of hurrying hu- cobtributed their $1,000. “Exuoutive Maxsiox, Wasninotox, Feb. 19, 1863, Stn The matters I spoke:to you about are mpor- ‘bean tans, and I hope you will not neglect them, Yours, truly, j to bis principle of buying and solling for cash. low, Secor & Co.,¥. 8. Forbes, russell Sturges and | Henry W. Hubbell, each with $1,000 marked opposite, For the past seven years, in consequence of impaired health, my intercourse with Mr. Stewart has not been 80 trequent as formerly, and consequently I am not able to recall incidents connected with the later years of his life, 1 may mention as & circumstance that to-day I went out to make three or tour calls with my daughter, and one was to have been on Mr. Stewart I was aware -that be had been ill for some time, but it was only when I arrived at his house that I learned he was dead. 1 can form no clear estimate of his wealth now. Formerly I was familiar with all of bis priva'e affairs, but his wealth is variously estimated at from $40,000,000 to $100,000,000, | and I would not be able to strike a bappy medium.” PETER COOPER'S OPINION OF THR DEAD MERCIANT. A Hxxatp reporter called upon Mr. Peter Cooper and found the venerable philanthropist engaged in distrib- uting little sums of money among a host of penniless applicants tor assistance, who, it seems, daily infest his residence, Ir, Cooper,” said the reporter, “the opinion of a man who has. been as long engaged in business enterprises in the city as yourself, touching the qualities of sfr. Stewart, must be of considerable value, and the pubdite would like to hear it.’” “I have just heard of Mr, Svewart’s death,”’ said Mr, Cooper, ‘and I sincercly deplore it, I think that he | was essentially.the business man of hia time and that in all the parts that make up a successful merchant he was gilted beyond comparison. He did not, like many people who have accumulated large fortanes, relax bis” energy and from past achievements draw augurics of successes in the future, Ho assured them by giving them as constant attention as he had bestowed op those preceding them. Diligence and enterprise Were qualities which characterized bis career through life, and abided with bim to the moment of his death, mind and habits, trained in a certain groove, be- £0 attuned to the pursuit of business that it afforded bim the enjoyment other men might seck in recreation. 1 think that, beyond most mon, Mr, Stewart nas been in- strumental in making our city a great emporium and in introducing proper method into the mercantile habits of its people. By abolishing tho custom of unstated rates and establishing a given price jor @ given article he put aa end to a system of petty impositions which had been jong in progress, and he saved = purchasers from the annoyance to which they wero formeriy subjected. 1 think that his action, io this matter tended to establish a regular rate in all retail transactions, and so did away with chafforing and all the harrowing grievances that attended bargaiming. Mr, Stewart benefited the city also in his immense in- dustrial enterprises, which gave employment to thou- sands, and which kept the channels of trade free when they were impeded elsewhere.” “To what do you principally attribute his business success f” asked tho reporter, “To diligence, first of all,” Mr. Cooper answered. “To strict attention to all the details of his business and bis foresight in providing for contingencies that might arise. But most of all is he indebted for success That Principle kept him always on a safe basis of operation and afforded him the power of directing the bulk of his great resources to any object he sought to attain. Speculations aod un- safe dealings he generally eschewed, and, never incur- ting debts himself, he framed bis business system on the strictest principles, In that way he never ven- tured beyond his depth, and was, consequently, always secure. ‘? Mr. Cooper then went on to speak of Mr. Stewart's system in his establishments, and the strict discipline he exacted of his employés. ‘‘Uuce,”’ said he, ‘I met Mr. Stewart in his uptown store, and while convers- ing with him about the magnitude of his business ho took me by the arm, and, pointing at the great array of salesmen, cash boys and porters, he asked me if they did not display an evidence of thor- ough training and an intelligent acquaintance with the peciliarities of haman nature.” I, of course, assented, “And yet,” said he, ‘not ono of them has discfetion, They are simply machines, working ina system which aetormines all their actions” And so Mr, Stewart managed all his business affairs Method and regularity were tho first considerations he gave his attention to.” In relation to the effect of Mr. Stewart’s death on business the philanthropist sald that he fancied it could in no way affect it, The merchant prince was very far-scving, and no doubt had antici- pated and provided for all contingencies that might. arise in case of his demise. When questioned about Mr. Stewart’s philanthropic schemes Mr, Cooper said that he thougbt him a man who cherished the best intentions with regard to the good of the pco- ple, but who perhaps had deferred carrying on some of them out of a doubt of thoir being practical He instanced the Workingwomon’s Hotel in Fourth avenue, which he thought ‘was not carried to completion, on account of the | achome’s lack of feasivility, But he had heard that Mr. Stewart had in progress the establishment of varl- ous industries which woaid supply prodtable work for hundreds, and this was an object greatly to be sought.” MR. GRISWOLD ON MR. STRWART’S PLAXS, Mr. Griswold, of the Fifth Avenue Hotet, in an intor- view with a reporter, stated that he has fora long tume enjoyed the acquaintance of Mr. Stewart, and he thinks that no man bas contributed so much to pro- mote the commercial activity of New York, and no ono bas succeeded in drawing to the city so much trade and go much money. He said that the business sys. | tem of Mr. Stewart was admirab'e. The strictest method was always established and rigorously carried out, Only men of sterling value were placod in charge | of departments, and over these Mr. Stewart maintained | a personal supervision until their grade of capacity was | determined. Mr. Griswold thon referred to tho Garden | City project, which haa resulted most satisfactorily, and stated that afr. Stewart had intended to establish factories there, which would supply further means of competency to the residents. Large manufactoties, too, were in course of construction up tho Hudson, which when completed would, no doubt, tend to diminish pauperism in and about New York, and raise | abarrier agatwst the destitution which threatened so | many unemployed families, The Working women’s Hoicl scheme, he suid, had not been abandoned, as was reported. Mr. Stewart always cherished a hope of making it a reality, and had urranged to meet Judge Hitton to take measures for pushing it forward up to the very hour and day when he died, Mr, Griswold said that the rend. ing of the will of no American has ever been looked forward to with as much interest as that of Mr Stew- art, and he binted that people will be surprised when they learn what a real avd substantial sympathy the | great business man had for deserving charities. | AT MR STEWART’S PLACKS OF BUSINESS, | | As soon as the sad intelligence of the death of Mr. Stewart reached his two stores all business was in- stantly suspended, and in a few minutes the windows and doors were closed and the curtains drawn. Mr, Libby, one of the members, of the firm, was atthe down town or wholesale establishment when the News arrived, and was quite prostrated by the shock, notwithstanding ho had been for tho past twenty-four hours momentarily expecting to hear of his chief’s demise, Outside the building a largo crowd goon gathered, and asked all manner of questions of whoever chanced to emerge, Having read in the Heratp during tho morning that Mr. Stewart's condition was critical in the extreme the pedestrians on Broadway were bat little surprised when they saw the shutters of the wholesale house being lowered and the doors closed. Of course they knew death bad at last claimed its victim, and yet hundreds wore constrained to stop before the building and make iquiries. About half-past two a large flag was run up at half-mast on the Broadway baiiding, and thia, together with the deserted and solemn as- pect of the entire edifice, was sufficient information for any reasonable persoh, bat did not sailice for the being so.d on every corner. The retail! house at Broadway, Nmth and Tenth streets was closed soon after the wholesale department both male and femaic, came trooping out and were manity which ever throngs this portion of Broadway on a ine day. Until late in the afternoon carriages freighted with | fair shoppers continued to arrive at the varrous en- | On the lower portion and back of tho note were the | trunces only to be turned away by tnlormation of the signatures of Alexander T. Stewart, Charles Knapp, of | melancholy event that had for the time being brought Erie, Pa; Marshall 0. Roberts, Isanc Bell, William H. Aspinwall, C. Vanderbilt, James Mitchell, H. B. Crom- well, Novelty Iron Works, Horatio Allen, President; James T. Sanford, Spofford, Tileston & Co, ; J, F, Wins- | Ina marveliously short apace of time the fact of Mr, | the immense business of the greatest commercial house — on this continent to a complete standstill. AT THB RESIDENCE IN THIRTY-FOURTH STREET, | Fifth street, between avenues C and D. , time of bisdeath. The last | Services were solemn aud impressive, Stewart's Géath becate Known in the fmmédiate neighborhood of bis residence, and ip a little while half a hundred idle people congregated on the opposite side of Thirty-fourth street, and stood the livelong afternoon staring vacant!y at the house. Carriage after carriage drove up, the occupants being, as § Beneral thing, personal friends of the family, whq alighted and entered tho house very quictly. In less than an hour after the death of the proprietor @: this magnificent marble palace an enterprising photographer brought bis camera to bear upon it, aud soon bore off in triumph half a dozen negatives; two artists, repre- sentatives of rival illustrated papers, wero sketching ~ the house and its surroundings, and a score of newse paper representatives were plying the family phy. sician, who lives next door, with question’ concerning ths last hours of the great merchant. About five o'clock the undertaker arrived abd placed a heavy piece of crape on the door bell, THE DECKASED’S CHARITIES, Mr. Stewart's practical charit:es, such as the hotel for women, are not particulariy provided torin the will The carrying out of these projects is left to the united care and judgment of his widow and Judge Hilton, Indeed, io'a business sense, the Judge may be said to step right tuto the place vacated by the death of Mr, Stewart, whose long time friond and faithful counsellor he bas been, The will is to be offered svon for probate, but until then its provisions are to remain secret, THE MOUSE IN FUTURE, Immediately after the death of Mr. Stewart cable despatches were gent to all the agents of Messrs. A. T, Stewart & Co. throughout the world, stating, graphic- ally, “The business of the firm will contigue a3 usual, Immediately after the obsequies all the manu actories will resume work.’? MR. STEWART’S LAST BUSINESS DAY, The last time Mr. Stewart left his house was on Sat- urday, the 18th of March. On that day be rode from his residence to the wholesale house, aud on his way uptown in the afternoon stopped at the retail estab lishment and looked over the books, THE UNION LEAGUE CLUB, By order of Mr. Josoph H. Chvate, the president, « meoting of the Union League Club will be held at the club house this evening, to take appropriate action ia regard to the death of Mr. Stewart. ‘THE OBSRQUIES, The funeral services will tako place at St. Mark’s church, Second avenue and Tenth street, at eloven o'clock, on Thursday morning next. Bishop Potter is to officiate at the obsequies and ar. rangements are bemg made to guitably decorate the church and provide accommodations for the numer ous attendance which is anticipated Thr body of the dead merchant prince will then be laid ia the family vault, AT SANATOGA. Sanatoca, N. Y., April 10, 1876, A flag was displayed at half-mast on the Grand Union Hotel on the announcement of the death of A. T. Stewart. He owns property here valued at $1,500,000, OBITUARY. BENJAMIN FRANKLIN VOORHEES, Acable telegram from Loudon, under date of the 10th inst, brings the following announcement:—A despatch {rom Rio Janeiro announces the death in that city of Benjamin Frankiin Voorhees, formerly secre- tary to Commodore Garrison, Mr. Voorhees was a victim of the yellow fever, which is raging in Rio wit ‘unusual violence, His wife was with him 9+ ¢7etim of his death, JOHN P, TREADWELL. John P, Treadwell, whe died on Szrucuay ms & New Milford, Conn., was for many years one @f+ @ vest known and most popular men in thisecity. We first came into public notice as an attentive and intelligent clerk at the Franklin House, at tho corner of Broad- way and Dey street. He soon became a partner in that then favorite hotel, the firm name being Hayes & Treadwell, and so continued until 1853, when, on the erection of the 8 Nicholas, being joined by Mr, Ackers, of Albany, he became senior partner im the firm of Treadwell, ackers, & Co., and opened that house. Here he continued for ten years, during which time he made thousands of foes. and never forgot the face or name of a g! . Ink he retired with an ample competence, going to New Millord, whore his residence was the most elogant in tue vill He was sixty-five years old. | in early manhoud he married a Miss Lockwood, of Connecticut who, with two daughters and a son, survive him. Ou Aa reapers to Seaeencry, hae at the St on lotel_were displayed al -must, yesterday, ' tuperal will take piace to-day. rs JAMES E. LAUDEMAN. The Kentucky Live Stock Record, Lexington, Ky., April 8, contains the foliowing:—Wo rogret to an, nounce the death of this young gentieman, whick occurred on Wednesday, tho Sth inst, at the residence of his father, on East Main street, in this city, H¢ had just entered his twenty-first year, and had em deared himself to a host of friends by his kindness disposition and his amiable manners. He was wel known to the turfmen all over the country, havi been employed for the past four or five years as tick writer wita the principal poolseliers in the Uni States, all of whom cap attest-to his upright honorable aeahnes with them. sae had bee ‘contin to his for the past two mon! consumption, of which disoase he died. THE LAST SCENE. ‘William H. Whalley, the popular actor, was buried yesterday afternoon from St Francis’, Hospital, in A solemn mass of requiem was celebrated by the Rev. Fathor Fitzharria, The tuoeral services were largely attended by the friends of the deceased, among them veimne a number of the members of the theatrical profession, The remains were taken to Calvary Cemetery for ine terment. Mr. Whalley was f years of age at the agement he played in Western, FUNERAL OF DR, GAKDNER, The last ceremonies over the femains of Dr. Augustus Kinsley Gardner took place at All Souls’ church yesterday, Dr. Bellows officiating. At tem this city was with Lucill | o'clock A, M. the church was filled with warm friends and admirers of the late Doctor, Dr. Bellows made ¢ very touching eloquent address, reciting the many genialand brilliant qualities of Dr. Gardner, recount ing the many lives he has saved during his active pro. iessional carcer, and his worth as # citizen, scbolarand man, At the couclusion of Bis address the friends were permitted to view the remains, and then the sud spectacle of women waode lives ho had from the portls of childbirth weeping at — ‘4 Lesiic, Dr. Carnochan, Dr, Holcombe, Dr. Hoamer and Dr. Martin were among the pall-voarcrs. The remaing if were iuterred iu Greenwood. ‘The floral decoratious were costly and be rhe chiet one, from Mr, inion ae those knightly words, “V1 courte ous, jal. OVERDOSE OF LAUDANUM. Mrs, Morgan, sister of General John Morgan, og Tennessee, and mece of P. T. Barnum, died yesterday morning at twenty minutes past two o’clock from the effects of an overdose of laudanam. It appears that Mrs. Morgan has been suffering for some time from severe attack of neuralgia and other nervous diseases, ter which she had been under the care of several doc- tors. She had beon in the habit of taking chloral and other anodines for temporary roliet from her sufferings, On Saturday evening last she Jomed in a game of casing with several acquail West Tweltth street, irength of dose, for in a short time she became drowsy aud to be assinted to ved by ono of the party. stupor from which it was impossible to her, the medical attendance wag procured. ‘This stupor terminated in her death, ag already related. Coroner Kickboff held an inquest yoatorday alternoon, aud the jury brought in a verdict of death from am overduse oi laudanum seli-admin- indy istered for relief from neuralgia, The deceased waa thirty-lour years of age. TRVING'S MEMORY. Tae ladies of the Washington Irving Monument Fone. Association assembied at the Windsor Hotel yesterday alternoon. Mrs, Aun 8, Stephens, the President, was in the chair, The minutes of the last meoting were read and ap- Proved, and letters from several prominent persona were ordered to be spread uy Mra. Winchester toa ME ooo berger comimittee to muke arrangements for an exuloiien Pw Ts al pe uujects comme! sive of ‘asuin; vin jotice ot the opening of the ex hibition will be given hereaiter, pom On the 24th of this month an fina forse Ba ind given the house of Mrs. W. W. Hard for of the fund. Tae entertainment will Feolter musical selections, &o,