Associated Dry Goods Corporation (Specimen)

Associated Dry Goods Corporation (Specimen)
Item# 4060assocdry

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 in 1986.

Close Up of Vignette:

Certificate: Preferred Stock Certificate, specimen, 1980s

Printer: 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.

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