Brothers Charles A. Whelan and George J. Whelan founded a tobacco
wholesale firm in
Syracuse, New York, in 1901, eventually turning to retail. By 1926, the chain had nearly 3,000 stores. Though initially specializing in cigars, it eventually sold many other items, such as
Mickey Mouse watches and
shoe trees. The chain represented the interests of the Consolidated Tobacco Company, the tobacco trust that controlled the
American Tobacco Company and others. In September 1903 a settlement was reached with the chain's competitors and all competition ended. In August 1929, the chain and the affiliated Whelan Drug chain, founded by two of Charles' Whelan's sons, was sold to brothers George Kenan and Frederick Kenan Morrow. The company also was involved in
real estate. As the
Great Depression deepened, the real-estate
subsidiary accumulated huge losses, so in September 1932 the
holding company declared
bankruptcy. Before its bankruptcy, it had 975 cigar stores and 219
drug stores, but most of its
assets were in real estate. The chain recovered and had 1300 outlets in 1951. ==Corporate progression==