[Boston] Weekly Messenger, 11 February 1857

DEATH OF JOSHUA SEARS.-- We have to announce this morning, the death of Joshua Sears, Esq., well known in this city as an eminently successful merchant. He died at the residence of his sister-in-law, Mrs. T.W. Sears, in South Boston, at half-past 12 o'clock on Saturday morning last, at the age of 65 years and 6 months. He was a native of Yarmouth, Mass., and was born in August, 1791. At the age of 17, he came to Boston, a poor boy, and entered as an apprentice in the counting room of Charles Hood, on Long wharf. Here he remained until he was 21 years old. About this time, in consequence of the embargo, and the war which soon followed, mercantile business was greatly depressed, and Mr. Sears returned to his native town on Cape Cod, where he remained until the close of the war, being engaged most of the time in keeping school. He then returned to Boston, and was employed in the counting room of the late George Hallet, where he remained one year. At the end of this time, he formed a copartnership with Oliver Hallet, a brother of George, under the firm of Sears and Hallet, at No. 10 Long wharf, George endorsing their paper, thus enabling them to obtain money to carry on their business. This partnership continued two years. About this time, Mr. Solomon Burt, of the firm of Burnham & Burt, 6 Long wharf, died, and Mr. Burnham took Mr. Sears into his store as a special partner, he continuing as a silent partner, for a period of three years. At the expiration of this time, Mr. Burnham retired, and Mr. Sears continued the business alone until his death. He possessed great shrewdness, which, combined with remarkable business talent, and indomitable perseverance and industry, enabled him to accumulate a very large fortune.

He lived a bachelor a great portion of his life, and it was not until the last of February, 1854, when past the age of 62 years, he was married to Phebe Snow, a daughter of Deacon Snow of Brewster, Mass. he has left one child, a son, born the 25th December, 1854. His wife died a few days after the birth of this child. [Joshua Montgomery Sears] He always retained a great regard for his native town, and has repeatedly sent money to one of his brothers who resides there, with directions to distribute it for the relief of the poor and needy in the place. His remains were taken to Yarmouth.
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from "The Joshua Sears Estate
Boston Daily Advertiser 25 Sept 1865

... He left a will, which was deposited in the Probate Office in Barnstable. The estimated value of his property was $1,600,000. Of this amount, the sum of $15,000 was bequeathed to the town of Yarmouth for the establishment of a nautical school, $3,000 to the Seamen's Friend Society of this city, and legacies to his brothers and other relatives to the amount of $107,000. The gentlemen who assisted him in carrying on his business were handsomely remembered, and the remainder of his property, amounting to nearly a million and a half dollars, was placed in the hands of Messrs. Alpheus Hardy, Horatio Harris, and Hugh Montgomery, trustees for the benefit of his son. This boy was placed and at the present time [1865, age 11] remains under the guardianship of Mr. Hardy; he is to receive $30,000 on attaining the age of twenty-one years, $4,000 annually until he has passed the age of twenty-four, $6,000 annually until he has passed the age of thirty, and $20,000 per annum after that time.

The article goes on to describe extensively the properties constructed in Boston by the Sears Estate. It ends with the comment:

The trustees now hold real estate property amounting in round figures to two millions of dollars, which belong to the son of Joshua Sears.