Handwritten on the back, "A.A. Pennoyer." This is a portrait of Pennoer in a suit and tie sitting in a ornately carved chair and holding some papers. Pennoyer was partners with H.C. Taft in the Taft and Pennoyer store. H.C. Taft opened the store in 1875 with Pennoyer as a "Carriage trade" business at 1165 Broadway. They sold fine linens, silks and woolens to a very select clientele. In 1928 Taft and Pennoyer is purchased by Emporium. And Emporium begins construction across the street of the new Capwell's store. The old Taft and Pennoyer store changes its name to the Outlet. Mr. Fred Hirshler is in charge of clearing out all slow-moving stock and leftovers.