This retail chain began when Henry Siegel, who had founded department store Siegel, Cooper & Company in Chicago, obtained financing from Goldman Sachs
for a store in New York in the early twentieth century. Though Siegel failed in his endeavor, the remnants of the chain were merged in 1916 with John Claflin's stores H.B. Claflin & Company, along with Lord & Taylor, Stewart & Company, Hengerer's, and J. N. Adam & Company (with financing from J. P. Morgan & Company), to create Associated Dry Goods. Other stores were spun off to Mercantile Stores Company.
Through the 1950s, 1960s and 1970s ADG continued to expand through acquisitions. In the 1970s, they created a new St. Petersburg, Florida-based department store, Robinson's of Florida. However, ADG was most well known for its upscale New York City based Lord & Taylor division, with over 84 locations across the country. Lord & Taylor was ADG's largest and most profitable division.
In the early and mid-1980s ADG attempted to rationalize its department stores, focusing on high-growth areas. Several of its non-profitable department store chains were sold or shuttered. They merged Hengerer's of Buffalo, New York into Rochester-based Sibley's in 1981. 1983 saw the merger of Cincinnati-based H.& S. Pogue Company into Indianapolis-based L. S. Ayres. Also in 1983 The Diamond division (2 locations) of West Virginia was sold to Stone & Thomas. In 1984, Stix Baer & Fuller (12 locations) in St. Louis, Missouri was sold to Dillard Department Stores. Also, in 1984, the Baltimore-based Stewart & Company division was merged into its Caldor discount division. The Powers Dry Goods Company (9 locations) in Minneapolis, Minnesota were sold to Allied Stores
' The Donaldson Company in 1985. In early 1986, they merged the Louisville-based Stewart Dry Goods division into its Indianapolis-based L. S. Ayres & Co. operations.
The company merged with May Department Stores
Close Up of Vignette:
Preferred Stock Certificate, specimen, 1980’sPrinter: Security-Columbian / United States Bank Note Company Dimensions:
8” (h) x 12” (w)State: VA-Virginia Subject Matter: Retail and Related
| Department Stores
| Specimen Pieces Vignette Topic(s): Female Subject
| Globe Featured Condition:
No fold lines, punch hole and stamp cancels in the signature areas and body, and some toning and edge faults from age.