Introduction[edit]

The Industrial Revolution and significant advancements in technology and manufacturing throughout the late 1800s led to an increase in the production of goods and a decrease in their cost. This, in turn, contributed to the economic prosperity of America and enabled the rise of department stores as a new fixture in American society. Offering a wide range of products under one roof attracted the strong middle class, who could now afford goods that were previously only available to the wealthy. First opening in Brooklyn, New York, in 1846, the success of these one-stop-shop businesses spread like a wave over the country as stores that previously only sold fabrics (draperies, upholstery, and clothing) seized the opportunity to expand their markets. Now selling everything from shoes, hats, perfumes, and cosmetics to furniture, glassware, fine art, and pianos, companies expanded as their customer bases grew.

History[edit]

Troy, New York, was an early adopter of this trend, as its prosperity from its iron, steel, and textile industries had already made the city a hub for commerce. In 1865, Sylvanus Haverly and William H. Frear opened a dry goods shop at 322 River Street in downtown Troy called "Haverly & Frear". Three years later, John Flagg consolidated his dry goods shop with "Haverly & Frear" to create "Flagg, Haverly & Frear", located in the Cannon Building at 5 Broadway. By 1874, "Haverly & Frear" had been bought out by Frear, who changed the name of the store to the "Troy Cash Bazaar".

Troy Cash Bazaar[edit]

Under the management of William H. Frear, the "Troy Cash Bazaar" quickly became the largest department store in upstate New York, with customers traveling from the entire New England area to visit the store. With almost 400 full-time employees and more than 50 departments, the company was making over 1.2 million dollars in annual revenue (equivalent to 40 million dollars today). In 1894, the company's name changed to "William H. Frear & Co." with the addition of Frear’s brother and sons. Frear’s renowned marketing ability greatly benefited his business success. His famous motto, "Prices and perfect satisfaction guaranteed or your money cheerfully refunded," has been widely adopted by modern corporations. Still operating out of the Cannon Building, the expansion of the business called for a building that was big enough to more comfortably operate out of. Thus, in 1897, Frear purchased the American House Hotel and replaced it with a Renaissance-inspired, marble-clad building at 1 Fulton Street as the Troy Cash Bazaar's new headquarters. The company operated out of this location through William H. Frear's death in 1911 and was ultimately sold to Rowley Department Stores in 1941.