Michael P Maillard was one of the success stories of yesteryear. Born in east Port-of-Spain in 1860, he went to work at a young age in the dry-goods section of what was then the largest department store in the island, Messrs Smith Bros' The Bonanza. While at the Bonanza, he dabbled in entrepreneurship, selling cloth house to house, which became the foundation for his own business dreams. In those far-off times, a yard of calico sold for 20 cents.
After 18 years with the Bonanza, eventually rising to the post of manager, Maillard received financial backing from a millionaire Jamaican speculator, AM Nathan, and opened a store of his own right next to his old employers' establishment in 1893.
Disaster struck when the business was destroyed by fire in 1895, but with more money from Nathan, Maillard bought the property at the corner of Frederick Street and Marine Square which became synonymous with his business. This acquisition took place in 1900 and was No. 1 Frederick St, where Scotiabank and Excellent City Centre stand today.
The structure had wrought-iron balconies and plate-glass display windows, in keeping with the style of architect George Brown, who transformed the look of Frederick Street after the fire.
Further calamity struck in 1907, when AM Nathan was killed in the Kingston earthquake, but by then, Michael P Maillard was already rich. His business was founded on one premise-cash. He purchased stock for cash, thus avoiding interest payments to suppliers, and so was able to sell cheaper than his rivals.
He also dispensed with the time-honoured tradition of deadbeat Trinis who would have credit tabs and rack up huge debts then refuse to pay. He made a strict rule with his clerks about "cash on the barrel," and ensured that there was no haggling by having visible pricetags affixed to all items.
This was a Trinidadian first, since the practice of the time ensured that clerks could often make a little "commission" by inflating the sale price of an item by a few cents after shrewdly judging the acumen of the customer. This new way of doing business appealed to shoppers grown accustomed to being swindled. Business boomed and Maillard's became known as El Popular and The Cash Store.
He loved his emporium so dearly that he once turned down an offer of $100,000 for it-a staggering sum. Maillard had 12 children, eight sons and four daughters. The boys were educated abroad, with Aldwin remaining in the business, Felix becoming a well known dentist and another son an engineer in New York.
Mr Maillard, seeing his offspring secure in their professions, sold the enterprise which had made his fortune. It was taken over by the famous JT Johnson, who became the household name for department stores in Trinidad. By simple and frugal business practices and a great deal of honesty, Michael Maillard became one of the most successful black magnates Trinidad has ever seen.