Chapter XXIII

Among the oldest commercial firms of this city, that of Brown Brothers & Co., looms up proudly and grandly, and has done so for more than a third of a century.

It is a branch of an English house. In Liverpool the firm is William and James Brown & Co. There is also a branch at New Orleans, and another at Mobile.

James and Stewart Brown are the two principal brothers, and members of the firm of Brown Brothers and Co. in this city.

James Brown built for his dwelling-place a magnificent palace in Leonard street. It was a large double house, with a court, and an entrance for horses and carriage from the street. It was located at No. 80 Leonard street, half the block from Broadway towards Church street. Thirty years ago, that part of the city was the residence of the best people in town. A few doors below the residence of James Brown, was the old mansion of Governor Morgan Lewis. Mr. Lewis was a great man in this State. He beat Aaron Burr in the canvass for Governor by 8,000 majority.

In the old place James Brown lived until it was no longer fashionable ground, and then he moved up town with the rest of the world.

Stewart Brown lives in Waverly Place. He married in Baltimore. James married twice, and his late wife was a Troy lady. The store of Brown Brothers & Co. was formerly in Pine street. They were then largely in the dry goods business.

Samuel Nicholson was for many years a clerk with the firm. About 1833 they retired from the immense dry goods business in favor of Amory, Leeds & Co. The latter concern paid a bonus of $100,000 for the good will. It turned out a very "bad will," and Amory, Leeds & Co. soon failed under such peculiar circumstances that their affairs were overhauled by the Law Courts. The manager of the house of A. L. & Co. was Henry H. Leeds, who is now in the auction business.

After getting clear of the dry goods trade, Brown, Brothers & Co. turned their attention and capital to banking and the exchange business. A large and profitable department of it was to make advances to importers of dry goods. The latter hypothecated their business paper to B. B. & Co. for letters of credit in England. The manufacturers drew at six months, the parties here obligating themselves to pay in time to reimburse them on the other side. At that time there were no steamers running. The trade depended upon the packet ships, and calculated on a thirty days passage over.

Brown Brothers & Co. charged to their customers two and a half per cent. for advancing, and two and a half per cent. for accepting those bills on the other side, making the snug commission of five per cent. It is needless to add that they did an enormous business.

In 1842 they established a house in New Orleans, under the name of Samuel Nicholson, (heretofore spoken of,) who had been many years their clerk. Mr. Nicholson had just established himself when a great derangement of the currency occurred-more especially throughout the West and Southwest. During the whole of the winter of 1843 exchanges on New York averaged not less than four to five per cent. Drafts were purchased at those rates in St. Louis, Cincinnati and other places, by the banks, and sent down to New Orleans, and Mr. Nicholson would buy all he could lay his hands upon at four per cent. discount. These drafts he sent to New York. The firm cleared that winter not less than $400,000.

Mr. Garr, a son of old A. S. Garr, of Jersey city was taken into the New Orleans house. He had married a daughter of Mr. Joseph Kernochan. Mr. Nicholson married a sister of William Russel's wife (Charles H. Russel's brother.) Mr. N. retired from business about eight years ago. He built a superb house in the Fifth avenue, near Twenty-first street, the lot running through to Broadway. It is now occupied by Bradish Johnson, to whom we alluded in a late chapter. On the lot facing Broadway, Mr. Johnson erected the store occupied by Park & Tilford.

When Mr. Samuel Nicholson died, he left one million of dollars and no children.

He was a fine looking man in his young days. His hair was as black as jet. He was a gay youth. He clubbed with Alexander Charton, who was in the lace business, and Godfrey Patterson, and they kept open house. They entertained in a most liberal manner, and invited every foreigner of any note who touched the shore.

Mr. Charton went on a farm. Godfrey Patterson went back to Scotland to his father. Sam Nicholson, as he was familiarly called, was one of the old school beaux. He was at every City Hotel ball, and a leader of fashion. He was buried at Greenwood, in a vault, in a large plot of ground, handsomely railed around. His wife lies by his side. Nothing marks the spot, where grass is allowed to grow without stint, except the slab on the entrance of the vault:

"The vault
of
Sam Nicholson."

There is nobody left of his kith or kin to shed a tear over the spot.

Mr. Nicholson conscientiously believed that there never had existed so great and so glorious a commercial house as that of Brown Brothers & Co. He was right.

In 1837, the house was deemed of great importance, and during that disastrous year it was sustained and kept up by the Bank of England. This great financial institution came forward and guaranteed the paper of William and James Brown & Co. to the extent of three millions, and enabled them to go through the crisis untainted. To have allowed that great American house to go by the board would have been a national calamity.

William, of Liverpool, is worth a million of pounds sterling. James, of New York, not less than two millions of dollars. He is a very charitable man, and is a member of the Episcopal church, corner of Eighteenth street and Fifth avenue.

This immense concern does the largest banking business in the United States. They carry on their mammoth operations quietly. They are rarely heard of. They never dabble in stocks except for investment. The main partners, James and Stewart, are the most modest and unassuming of our citizens. There is no show or parade with them. James never rides except in a one-horse coupe. Stewart never rides except in an omnibus. He walks quick—one hand behind the small of his back, and carries a little cane.

James Brown lives at the corner of University Place and Ninth street. His house is a large double one. He has a very large family. At present he is traveling in Europe, with his son Clarence, who, from appearance, gives indication of becoming a very fast young man. Last summer he could have been seen any fine day, either on the road or in the Central Park, with fashionable young ladies, driving tandem.

Brown Brothers & Co. must have been in existence over fifty years. They had for twenty-seven years a celebrated mulatto man named Jacob Schermerhorn, a porter, who died about fifteen years ago.

One of the oldest mercantile firms in this city is Peter J. Nevius & Son.

The old man is descended from Johannus Nevius, who was a schepen or alderman of this city in 1655.

Our man, Peter Nevius, held the same office, and was alderman of the First Ward, in this city, in 1829, when Walter Bowne was mayor. Mr. Nevius was never a politician. He had no ambition to be other than a merchant. In 1800, he commenced business on his own account at No. 11 South street. On the same spot he does business now, after a period of sixty years has gone by. He was twenty-one years old when he started. He is eighty-one now, and yet is never absent from his counting room, and stands writing at his desk during business hours. Thirty years ago he took his eldest son into the concern, and made it Peter J. Nevius & Son. Different sons have been in the firm at different times. Their business is now and ever has been in produce. They sell flour, produce, etc. on commission. His father was a farmer at White House, New Jersey. The son still owns that farm. General Washington dates many of his dispatches from White House, New Jersey, during the war of the Revolution, and while he was trying to drive out the British.

Mr. Nevius has long been called the honest merchant. He is certainly the oldest merchant who continues in active business in this city. He has had a large family of children. Seven are still living. He lives in a house in Waverly Place. He built it himself in 1838. He married Miss Lent, a daughter of James W. Lent, former Recorder of the city and county of New York. She died last spring.

Some of the partners of a very old grocery house in Front street have recently become prominent in connection with an ex-merchant and present mayor.

The firm of Smith & Mills was formed about thirty-two years ago. They did a very heavy trade in Front street, second door from Fletcher street, on the east side. This firm afterwards changed to Smith, Mills & Co. Their purchases of wines, sugars, etc. were very heavy—in fact, they tried to rival their next door neighbors, Lee, Dater & Miller.

S., M. & Co. dealt largely in rice. A brother of Mills being in Charleston, constantly shipped them large quantities for many years.

Ruel Smith is a short, thick-set, active man, and at present traveling about Europe. He is a widower, owns a farm at Skaneateles in this State, and when in this country, can always be found at the St. Nicholas, where he is called "Little Smith."

The name of the junior partner was Atwater. He now continues the old business under the firm of Atwater, Munford & Co., at No. 35 Broad street.

Drake Mills was one of the firm, and it laid the foundation of his present fortune of $300,000. He has been twice married. He had several children by his first wife, but one of the offspring of the second marriage has recently risen to greatness, and ranks as the wife of one of the chief magistrates of the empire city. Eugenie of Spain rose to be the wife of Napoleon and empress of France, and Miss Mills, the daughter of one of the old house of Smith, Mills & Co., has become Mrs. Wood and the wife of Fernando, mayor of New York.

In marrying the daughter of an old merchant, Fernando has strengthened his position among our merchants—a class he loves, for he was once one, when he kept the grocery on the north corner of Rector and Washington streets.

Drake Mills has given his daughter an education to fit her to be a President's wife, the position he expects her to occupy before her new mate ends his political career. That bold Fernando deserves a "big honor" none will deny; but it rests an open question among those who know him, and those who do not, whether it will be the "White House" at Washington.

Mills is a brother of the Mills who gives name to the celebrated Mills House in Charleston, South Carolina. It was that southern Mills who shipped such immense quantities of rice to Smith, Mills & Co. when that old grocery house was in their highest glory. Mrs. Wood, nee Mills, speaks, reads and writes five different languages, viz: French, Spanish, German, Italian and English. She spent twelve years of her young life at the best schools in Europe, where she was accompanied by her excellent mother.

Mr. Drake Mills is an excellent business man, and a prudent one. Although out of regular business at press ent, yet he recently gave evidence he had not forgotten his old prudent methods, for he made Fernando Wood carefully place $100,000 in good Croton Water stock, where the income, $5,500, can go for pin money for his daughter; and in case of her death, the principal reverts to the parents of the aforesaid lady.

Mrs. Mayores Wood will eventually be the richest lady in New York. Wood is immensely rich—some say three millions. She is sixteen; he was fifty-six years old last 24th November. Wood will wear out. He will never rust out, and will live ten years more certainly, and then the daughter of our old mercantile friend, Drake Mills, may find herself a one-thirder in vast wealth, and a charming widow of twenty-six.

Mr. Drake Mills is one of the directors of the Phoenix Bank, and I presume would have been nomi- nated as City Chamberlain in place of Mr. Devlin, the clothing merchant, had not Mr. Alderman Peck, the acting mayor, assumed doubtful powers.