The successor to the New York Woolen Company, which failed in late 1870, was the A.T. Stewart Co.'s New York Woolen Mill. The company continued to use the mill at the northwest corner of Main and South Streets. This business was still referred to as the New York Woolen Mill.
Alexander T. Stewart invested approximately $350,000 in capital funding in this business, which employed 200 people and had a monthly payroll of $7,000. The company produced up to 2,000 yards of high-grade cassimeres daily. He advertised for experienced cassimere weavers to manufacture the products. The company advertised to wholesalers, and, initially, a major product offered was women's one and two-button kid gloves.
On April 10, 1876, 73-year-old A. T. Stewart died. At the time, he employed 7,000 domestically and another 1,000 in Europe in his many factories, wholesale, and retail locations. His wealth was estimated to be over $100 million. He owned 20 acres of retail space in New York City alone.
The successor business to A. T. Stewart Company's New York Woolen Mill in the 1880s was the Connor Bros. New York Woolen Mills, which follows this topic.
Citations:
Newspapers.com (paid subscription): Citations: Holyoke (Massachusetts) Transcript & Transcript-Telegram; Springfield (Massachusetts) Republican; Rome (New York) Sentinel; Kentuckian Citizen (Paris, Kentucky); publication dates and pages are shown.
Ancestry.com (paid subscription), Price & Lee City Directories, Holyoke, Massachusetts.
Registry of Deeds, Hampden County, Springfield, Massachusetts
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