The greater portion of Mr. Stewart’s immense fortune is invested in real estate.  Besides his two stores on Broadway, he owns the Metropolitan Hotel and the New York Theater, also on Broadway; nearly all of Bleecker Street from Broadway to Depauw Row, several churches, a number of buildings, and many valuable lots.  He resides at the north-east corner of the Fifth Avenue and Thirty-fourth Street.  Immediately opposite he is building one of the finest residences in the world, and the most superb in America.  He owns more real estate than any man in America except William B. Astor, and is the most successful merchant in the world.

Mr. Stewart is said to be extremely liberal in his donations to objects which meet with his sympathy.  The majority of these donations are quietly made, as he has a repugnance to public charities.  He gave liberally to the cause of the Union during the war.  During that struggle he sent a cargo of provisions to Ireland, where much distress existed, and then invited as many emigrants as the vessel would carry to take passage to America in her, free of charge.  One hundred and thirty-nine persons availed themselves of his offer, and upon reaching America were all provided with good situations by him.  At present he is engaged in erecting on the Fourth Avenue a large building, in which homes will be provided for poor working females, at a small expense to them.  It is said that this noble project will require an outlay of several millions of dollars.  His friends—­and he has many—­speak of him as exceedingly kind and liberal, and seem much attached to him.

As I have said before, Mr. Stewart has not cared for political distinction, but has rather shunned it.  He was a member of the Union Defense Committee during the war, and in 1866 was one of the signers of the Saratoga address, calling on the people of the country to sustain the policy of President Johnson.  His warm friendship for General Grant caused him to be one of the earliest advocates of the election of the latter to the Presidency.  He was a candidate for Presidential Elector on the Republican ticket for the State of New York, but was defeated, with his associates, by the Democracy.

His intimate relations with General Grant, together with his vast financial experience, induced many persons to believe that he would be offered a place in the Cabinet of the new President.  These expectations were realized by his nomination to the post of Secretary of the Treasury, on the 5th of March, 1869, and his immediate and unanimous confirmation by the Senate.  He was about to enter upon his new duties, when it was discovered that there existed an old and almost forgotten law forbidding any merchant from becoming the head of the Treasury Department.  As soon as this discovery was made, Mr. Stewart expressed his desire to withdraw from the position, and thus relieve the President of all embarrassment upon the subject, but the latter, wishing, if possible, to