SUPERB 1902 S.S. Kresge SIGNED Letter (ALS), FIVE + DIME Store became KMART 1977

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SUPERB 1902 S.S. Kresge SIGNED Letter (ALS), FIVE + DIME Store became KMART 1977:
$250.00

- Retail PIONEER Sebastian S. Kresge SIGNED Letter 1902 -- VERY RARE “Kresge & Wilson” LETTERHEAD Stationary -- In PARTNERSHIP with brother-in-law + just THREE Stores -

EARLY, autograph letter signed (ALS) by “five and dime” store pioneer SEBASTIAN S. KRESGE – on the RARE letterhead stationary of “Kresge & Wilson, THE BIG 5 CENT AND 10 CENT SYNDICATE”. The letter is penned entirely in the hand of S.S. Kresge during that period of time when Kresge was in partnership with his brother-in-law Charles Wilson and when their fledgling variety + novelty store chain consisted of only THREE stores.

The letter is dated October 5th 1902 and addressed to his cousin “Leslie Kresge”, with the original postal mailing envelope included. Floyd Leslie Kresge (1885 – 1957) was born in Scranton, PA and would serve as the longtime manager of the S.S. Kresge store in Indianapolis, Indiana.

The letter reads in full, “Dear Cousin – Father told me to write you, as you would be open for a position Jany – 13. Kindly explain what you have been doing, where you went to school last and what you prepared yourself as or for. I can use a good live man at most any time who wishes to push along in the business world and not afraid to work. Kindly state your age, weight, height and what you think you ought to have to start on. How much for first, second and third years? What best would you like to do? S.S. Kresge (signed)”.

SEBASTIAN SPERING KRESGE (1867 –1966) was an American merchant and the founder of S. S. Kresge Company, the pioneering five and ten cent retail store chain. The Kresge Company name was changed in 1977 to Kmart and today is part of the Sears Holdings Corporation, which includes both Kmart and Sears stores. Kresge initially entered into business in 1897 with James G. McCory in Memphis (Tennessee), with each of them owing a half interest in TWO - five and dime stores, one located in Memphis and another in Detroit. After spending two years with McCory, Kresge traded his half interest in the Memphis store, along with $3000, for sole ownership of the Detroit store. In 1900, Kresge founded his own company in association with his brother-in-law Charles J. Wilson. They operated the Detroit store and another in nearby Port Huron, which Wilson managed. In 1907, after opening several stores together, Wilson wanted to dissolve the partnership and Kresge bought him out. In 1912, the S.S. Kresge Corporation was formed with 85 stores in business. The company was first listed on the NYSE in 1918. In 1924, Sebastian Kresge established the non-profit Kresge Foundation, a philanthropic organization whose mission statement was “to promote the well-being of mankind”. That same year, Kresge’s net worth was estimated to be around $375,000,000. He would contribute over $60 million dollars to the foundation during his lifetime.

CONDITION: letter measures about 8 ¼ x 10 ¾ inches in size and is in EXCELLENT overall condition with one horizontal & two vertical mailing folds and some very minor, scattered foxing. There are NO rips or tears. The original mailing envelope measures about 3 5/8 x 6 ½ inches in size and is in EXCELLENT condition as well, with the customary postal cancellation marks but NO rips or tears (see scans). Sebastian Kresge’s signature / autograph is guaranteed authentic. $10 for shipping, postage & INSURANCE. Please email your questions.