John V. Farwell & Co.
| Company type | Private |
|---|---|
| Industry | Retail (Department store) |
| Founded | 1836 |
| Founder | E. S. Wadsworth, Julius Wadsworth, Thomas Dyer |
| Defunct | 1926 |
| Fate | Acquired by Carson, Pirie & Co. |
| Headquarters | Chicago , United States |
| Products | Clothing, general merchandise |
John V. Farwell & Co. was a Chicago-based department store in Chicago, Illinois, United States, with origins dating back to 1836 when the Wadsworth brothers arrived in Chicago to engage in merchandise sales. Eventually, E. S. Wadsworth partnered with Thomas Dyer and John Putnam Chapin, forming the firm Wadsworth, Dyer & Chapin. After several changes in ownership, leadership passed to John Villiers Farwell, who lent his name to the company. A successful clothing enterprise, Philip Wadsworth & Co., was later carved out from the original business. Until the devastation caused by the 1871 Great Chicago Fire, John V. Farwell & Co. was Chicago’s leading retail establishment. Despite continuing operations post-fire, it encountered significant rivalry from former associates Marshall Field and Levi Leiter. Ultimately, the store was acquired by Carson, Pirie & Co. in 1926.
History
In 1836, E. S. Wadsworth relocated from New England to Chicago, Illinois with intentions to purchase land and market goods. His brother Julius soon joined him. They formed a business alliance with Thomas Dyer, establishing a shop on Lake Street within a property owned by F. C. Sherman. Subsequently, they constructed their own retail location on South Water Street between Clark and LaSalle Streets. Across from this second store, they erected a warehouse dedicated to grain storage and sales and also developed a meatpacking facility south of the Twelfth Street Bridge. Additionally, the Wadsworths invested in a store situated at the intersection of Lake and Wabash Avenue.
By 1843, Julius Wadsworth withdrew from the partnership due to health concerns, leading to the inclusion of John Putnam Chapin and the renaming of the firm to Wadsworth, Dyer & Chapin. The partners established a new slaughterhouse along the South Branch of the Chicago River and secured an agreement to process cattle raised by Jesse and Isaac Funk. While Wadsworth concentrated on retail management, Dyer and Chapin directed their efforts toward meatpacking operations. In 1846, Chapin was elected as Chicago’s 10th mayor. Following this shift, Wadsworth emphasized retail activities as Dyer departed to pursue his own meatpacking business. Prior to this division, Wadsworth, Dyer & Chapin had been among thirteen founding entities supporting the establishment of the Chicago Board of Trade, with Dyer serving as its inaugural president.
The partnership expanded with the addition of William Henry Phelps, resulting in the firm’s rebranding as Wadsworth & Phelps. Shortly thereafter, Mr. Cooley joined as a senior partner, prompting another name change to Cooley, Wadsworth & Phelps. When Phelps exited in 1850, he was succeeded by John Villiers Farwell, and the company became known as Cooley, Wadsworth & Co. Upon Wadsworth’s retirement in 1863, Marshall Field and Levi Leiter were brought into the partnership in 1864, leading to the firm being renamed Farwell, Field & Co. However, just one year later Field and Leiter departed to collaborate with Potter Palmer at what became Field, Palmer, Leiter & Co., later known as Marshall Field & Co. The enterprise continued under the title John V. Farwell & Co., with partners including Farwell himself, Charles B. Farwell, William D. Farwell, John K. Harmon, and S. N. Kellogg; Kellogg retired in 1867 and was succeeded by Simeon Farwell in 1870.
The company's premises were located at 112-116 Wabash Avenue during this period. Its clothing division was separated into independent firms such as Huntington, Wadsworth & Parks and eventually C. M. Henderson & Co., specializing in boots and shoes. The devastating Great Chicago Fire of October 1871 destroyed their building along with much surrounding property. Following this loss, a new facility was commissioned at Monroe and Franklin Streets’ northwest corner. In 1883, an eight-story structure opened at Market and Monroe Streets for retail purposes. John V. Farwell exited the company in the mid-1880s to focus on Texas land investments including the renowned XIT Ranch. The business ultimately was sold to Carson, Pirie & Co. in 1926.