Joseph G Blake
We have all gone silent since the World Series. But Christmas is almost here and its time to wish everyone Merry Christmas and Happy Holidays depending on your outlook.
A bit of trivia. Some of you may recall the Christmas Tree at Sterling's. I used to see it and Santa every year as a child. What a special treat! Here was this old fashioned store with a large atriun or courtyard that was five stories tall. And the stories were better than 10 feet each floor. This was the back drop for this very tall tree. It was the largest interior Chrismas tree in the USA at the time. It was 60 feet. By comparison the tree at the Rock Center in NYC this year is 94 feet but its outside.
The tree at Sterling's had 1500 hundred decorations, a thousand yards of tinsel and sixty pounds of icicles.
Sterling's never moved to the suburbs and therefore it closed in 1968. But the other stores all disappeared in due course and none of the big 6 department stores survived downtown. Higbee's is a casino- ugh. All the stores either closed or were acquired. Higbee's had the best location at the Terminal but it was acquired by Dillard's and in due course the Terminal store closed,
Higbee's was acquired by the Vans in the late 20s to have a tenant for the Terminal complex. Before that it was overshadowed by Halle's. It was then in the same space later occupied by Sterling's. In the depression years it was sold to John P Murphy and Charles Bradley after the Vans died. They got control of the store for around $50,000. Murphy and Bradley had been closely associated with the Vans. The store was an after thought to the owners of the Vans Empire.
The owner was George Ball who owned the Ball Glass Company which made jars for canning. He bought the Vans Empire in 1935 for a few millions at a bankruptcy sale and then hired the brothers to run it for him. He paid them to run it becasue they were the only ones who understood it. But they died within two years and Ball sold it. The biggest asset, the Alleghany Corporartion which controlled the Missouri Pacific Railroad was acquired by the Kirbys. A lot of the Cleveland based assets went for distressed prices, Hence why Higbee;s was bought by Murphy and Bradley for so little.
Murphy had no children and his Higbee investment went to the John P Murphy Foundation when he died. He was also a Notre Dame alumnus and the school likewise benefitted.
Merry Christmas to all. And if there is a lesson here, it is "Buy low, sell high.".
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