Читать книгу All in a Life-time онлайн

46 страница из 133

While waiting, Mr. Root told us of several cases in which he had recently been retained, where the younger generation dissipated big fortunes in a very short time. He laid particular stress on the case of Cyrus W. Field, who, in his lifetime, prided himself that he had an income of $1,000 a day, which at that time was enormous. I also recall Root telling me that night that it was unwise for any lawyer to devote himself entirely to politics, that he should, when called upon, render a public service, complete it, and then return to his profession, but be ready for any further calls that might be made upon him. Root has pursued that course most successfully.

I felt a strange sensation to be present at this midnight dénouement of the great business of A. T. Stewart & Company. I could not help but think of the causes. Judge Hilton had offended the Jews in America because his hotel, the “Grand Union” in Saratoga, had refused to accommodate Joseph Seligman, whom both the New York Chamber of Commerce and Union League Club honoured by electing as one of their vice-presidents. Hilton did not then realize that this act not alone involved the loss of his Jewish customers, but it would also influence a great many of his Christian patrons who would resent such discrimination, and withdraw their custom from his firm. Most of this trade went to the rising firms of B. Altman & Co. and Stern Bros. and so strengthened them that they became great competitors of Hilton, Hughes & Company, and precipitated their downfall. John Wanamaker bought the lease and stock of goods. I remember distinctly with what satisfaction, when the transaction was closed, he told me that this was the first time that he had ever heard of so valuable a franchise being given away for nothing. Wanamaker shrewdly disregarded the short existence of Hilton, Hughes & Company, and advertised John Wanamaker as the successor of A. T. Stewart & Company.