You will receive the exact certificate pictured
Guaranteed authentic
Over 75 years old
Common/preferred stock
October 23, 1935 (purple)
October 24, 1934 (orange)
February 1, 1928 (green)
Issued, canceled
American Bank Note Company
Hand signed
11 1/4" (w) by 7 1/2" (h)
Historical Context
The first A&S store, at 285 Fulton Street, opened in 1865 and measured 25 feet by 90 feet. Abraham Abraham, age 22, and Joseph Wechsler each contributed $5,000 for the purchase. In 1883, the firm bought the recently built Second Empire cast-iron Wheeler Building at 422 Fulton Street to be their flagship store.
On April 1, 1893, Nathan Straus, Isidor Straus, and Simon F. Rothschild as partners – the Straus brothers provided the financing, but Rothschild was the active partner – bought out Wechsler, and the firm became Abraham & Straus. At the time, the company had 2,000 employees. Simon F. Rothschild, Abraham's son-in-law, Edward Charles Blum, and son, Lawrence Abraham, became partners in the new firm.
By 1900, the company had 4,650 employees. From the 1890s to the 1920s, A&S utilized a system of catalog store agencies across Long Island to serve customers.
In 1912, Isidor Straus, along with his wife Ida, perished in the sinking of the RMS Titanic.
Around 1915, after Abraham's daughter married Isidor's son Percy Selden Straus, the Straus family divided up the empire with Nathan's family running A&S and Isidor's family running Macy's.
Beginning in 1928, the company embarked on a $7.8 million expansion of the Fulton Street Store, which included excavating a new basement without disturbing customers above. The renovated store opened October 10, just days before the Wall Street Crash of 1929. In 1929, the company also joined Filene's, Lazarus, and Bloomingdale's to form Federated Department Stores. To economize during the Depression, the company began scheduling employees according to hourly sales. In addition, all employees took a 10 percent pay cut. No employees were laid off.
In 1937, Walter N. Rothschild led the company, and served as president and chairman until 1955. Following Rothschild, Sidney L. Solomon became the company's first non-family president. At the time, the company had 12,000 employees.
After World War II – The company grew. In 1950, the company purchased Loeser's Garden City store, and two years later, its first new branch store opened in Hempstead, New York.
In the following decades, the company expanded throughout the New York metropolitan area. Among its expansions was an anchor store at Paramus Park in Paramus, New Jersey, which necessitated the building of an access road that, despite the conversion of the store to Macy's, is still today known as A&S Drive.
In the 1970s, Federated attempted to update the image of A&S and funded the construction of new, more upscale stores. A&S developed a new logo that once again branded the stores Abraham & Straus. The company opened a central distribution center which decreased the amount of non-selling space needed in each store.
In 1978, the firm opened the first of its more upscale stores at the Monmouth Mall in Eatontown, New Jersey. This was followed by stores in White Plains, New York in 1980, The Mall at Short Hills in New Jersey, in 1981, and a replacement for the chain's Babylon, Long Island store at Westfield Sunrise Mall.
In 1981 and 1982, the chain opened two stores at malls in the suburban Philadelphia market, The Court at King of Prussia and Willow Grove Park Mall. These new stores struggled to find their niche, and the two Pennsylvania stores were closed in 1987 and 1988, respectively, and the space became occupied by Philadelphia-based Strawbridge and Clothier.
The Short Hills, New Jersey store seemed out of place in the very upscale mall, and customers resisted what were seen to be the store's more rigid policies concerning check acceptance, inter-store transfers, and refunds. Eventually, A&S would stock the Short Hills location with merchandise that better befit the location.
In 1994, Federated acquired Macy's. Since both Macy's and A&S competed for the same type of middle-income customer, Federated felt that the lesser-known A&S brand should be eliminated. In January 1995, it was announced that all A&S locations would be converted to other brands by April 30. Most became Macy's or Stern's, but at least one location was converted to a Bloomingdale's and another was sold to Sears.
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