The Phoenix-Like Rise of the Mermod & Jaccard Jewelry Co.
St. Louis, Mo., Dec. 25.—The Mermod & Jaccard Jewelry Co. have settled themselves temporarily in the old location of A. Kurtzeborn & Sons, 410 and 412 North Broadway, opposite their former quarters. The company’s establishment was burned out at 4.30 o’clock A. M. Sunday. By 6 o’clock P. M. of the same day Goodman King, secretary of the Mermod & Jaccard Jewelry Co., had made arrangements for the sale or rather amalgamation of the stock and good will of A. Kurtzeborn & Sons with his firm. It is stated, as showing the enterprise of the Mermod & Jaccard Co., that negotiations commenced at 8.30 o’clock A. M. Sunday. By the time stated above, formal verbal terms had been agreed upon, and they were formally ratified on Monday morning, when canvas signs in front of the store of A. Kurtzeborn & Sons announced that henceforth that place was the headquarters of the Mermod & Jaccard Jewelry Co.
The terms of the sale were private, and in conversation with The Circular representative, Goodman King said: “We do not care just at this time to tell what the terms of sale were. You can say they were very satisfactory to all parties concerned.”
The building on their former location, northwest corner of Broadway and Locust St., will be rebuilt quickly, and the company intend shortly to emerge from their temporary embarrassment with a greater establishment than ever. By the terms of the sale with A. Kurtzeborn & Sons, that have been given to the public, the partners of this concern became identified as stockholders in the Mermod & Jaccard Jewelry Co.
The total amount of insurance carried was $441,000, divided as follows: On building, $112,500; on rents, $24,000; on stock under general firm, $256,700; on furniture and fixtures, $47,750. The adjustment of this insurance is progressing satisfactorily, and considerable salvage will accrue to the insurance companies from melted gold, silver, etc., found in the ruins. The jewelry firm had 10 fire-proof vaults in their basement, in which were stored the diamonds and other precious stones and valuable watches and watch movements. Five of the vaults have been opened, and they disclose practically no damage to the contents.
The firm have necessarily had considerable trouble and annoyance in consequence of Christmas goods purchased being in the burned building. With commendable enterprise they have adjusted satisfactorily all of these purchases, however, in some cases giving substitutes for the originals, in others returning the money.
Source: The Jewelers' Circular - 29th December 1897