Schulte Ubiquitous

Excepting a few pieces of furniture, many a U. S. inhabitant has furnished his home with shrewd purchases at 5-c- & 10-c- stores. To these emporiums he has also hastened for Christmas presents and such luxuries of life as teacups, cookies, ribbons, bottle openers, pins, whatnot. It was announced last week that 14 leading chain store systems, chiefly of the nickel & dime variety, had made an average sales increase of 15.7% in 1927. The list, with value of 1927 sales and percentage of increase over 1926, follows:

F. W. Woolworth & Co. . . . . $272,747,430 7.5
J. C. Penney Co., Inc. . . . . . 151,954,620 31.3
S. S. Kresge Co. . . . . . . . . . 133,765,777 12.2
S. H. Kress & Co. . . . . . . . . 58,059,929 11.9
W. T. Grant Co. . . . . . . . . . . 43,322,451 20.5
J. J. Newberry & Co. . . . . 15,065,908 50.9
F. & W. Grand Stores, Inc. . 12,882,457 22.6

Metropolitan Chain Stores,
Inc. . . . . . . . . . . . . . . . . . . . . . . 12,271,878 11.4
McLellan Stores Co. . . . . . . 12,942,168 22.9
G. C. Murphy Co. . . . . . . . . . . 10,233,592 19.6
J. G. McCrory Co. . . . . . . . . . 39,337,644 17.0
Neisner Bros., Inc. . . . . . . . . 6,452,159 45.9
Isaac Silver & Bros. . . . . . . . 5,609,947 17.2
Kinnear Stores . . . . . . . . . . . 3,035,807 43.8
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Total . . . . . . . . . . . . . . . . . . . . . $776,681,787 15.7

Well aware of these facts, David A. Schulte, tobacco store potentate, is entering the trinket store field on a grand scale. With an investment of $35,000,000. of which $10,000,000 will be preferred stock, he plans to establish at least 1,000 stores selling household utensils, wearing apparel, books, miscellany, at prices from 5-c- to $1. Already he has five henchmen scouring the U. S. for favorable sites. In the appearance of his shops and in the quality of his merchandise, Mr. Schulte promises to give the public its eye's worth and its money's worth. Enthusiastic, he cried: "There is no reason why the number [of stores] shouldn't grow to 3,000."

Mr. Schulte is conspicuous in chain store circles. More than a year ago his 800 tobacco temples entered into partnership with the 3,000 United Cigar Stores.* Shortly after that he bought Huylers, Inc. (48 tea, ice cream and candy saloons). He has interests in V. Vivaudou, Inc., Park & Tilford, Dunhill International, Inc., Melba Manufacturing Co., American Druggists Syndicate, the Alfred H. Smith Co. As amazing sideshows, he paid $75,000,000 for the French tobacco monopoly two years ago, and bought the Overholt distillery (2,000,000 gallons of whiskey) for $15,000,000. Also he is the man who profited $1,000,000 by buying and selling Aeolian Hall in Manhattan within a week in October 1924.

And, to begin the story, he was the $18-a-week clerk in his brother-in-law's cigar store in Park Row, lower Manhattan, 37 years ago.

* Last week the United Cigar Stores Co. bought 25,000 shares of Life Savers, Inc., in addition to their previous purchase of 50,000 shares. Reason: "Future accomplishment by United Cigar Stores of certain objectives which they believe will benefit Life Savers and its stockholders."