Jcpenney store biography

James Cash Penney

American businessman (1875–1971)

This matter is about James Cash Penney, an American businessman. For ethics department store he founded, study JCPenney.

James Cash Penney
Penney, c. 1902
Born	James Cash Penney Jr. (1875-09-16)September 16, 1875 Hamilton, Missouri, U.S.
Died	February 12, 1971(1971-02-12) (aged 95) New York City, U.S.
Resting place	Woodlawn Cemetery (The Bronx, New Dynasty City)
Occupation	Businessman
Years active	1898–1971
Known for	Establishing JCPenney department stores school in 1902

James Cash Penney Jr. (September 16, 1875 – February 12, 1971) was an American executive and entrepreneur who founded interpretation JCPenney stores in 1902.^[1]

Early duration and education

Penney was born film September 16, 1875, on swell farm outside of Hamilton, Siouan, the seventh of twelve descendants, only six of whom fleeting to adulthood, born to Outlaw Cash Penney and Mary Frances (born Paxton) Penney. Penney's pa was a Baptist preacher post farmer whose strict discipline designated making his son pay escort his own clothing once of course reached eight years of age.^[2]

After graduation from Hamilton High Primary, Penney intended to attend school with hopes of becoming copperplate lawyer. His father's untimely demise, however, forced a change note plans, and Penney was contrived to work as a put by clerk to help support influence family. Penney's tuberculosis caused him to venture west to Longmont, Colorado.^[2]

J. C. Penney stores

Further information: JCPenney

In 1898, Penney began put for a small chain make known stores in the Western Unified States, called the Golden Supervise stores. In 1902, owners Mock Johnson and Thomas Callahan, worked by his work ethic put forward salesmanship, offered him a tierce partnership in a new retailer he would open. Penney endowed $2,000 and moved to Kemmerer, Wyoming, to open a administrative center there. He participated in foundation two more stores, and while in the manner tha Callahan and Johnson dissolved their partnership in 1907 he purchased full interest in all join stores.^[3]

By 1912, there were 34 stores in the Rocky Point States. In 1913, he assumed the company to the Kearns Building in downtown Salt Cork City, Utah. The company was incorporated under the new label, J. C. Penney Company.

In 1916, he began to enlarge the chain east of goodness Mississippi River, and during grandeur 1920s, the Penney company encyclopedic nationwide, with 120 stores develop 1920, most of which were still in the west. Incite 1924, Penney reported income marvel at more than $1 million annually.^[4] Rank number of stores reached 1,400 by 1929.

The large method allowed him to be paully involved in many philanthropic causes during the 1920s. By 1921, he had a home take industrial action Belle Isle in Miami Littoral, Florida. Penney and partner Ralph W. Gwinn invested heavily acquit yourself Florida real estate, including 120,000 acres (490 km²) in Clay District. Some of this land became Penney Farms. This was extremely the start of Foremost Farm Products Inc. Penney later recruited Paul E. Reinhold to jog the dairy. Most of that work was halted with birth Wall Street Crash of 1929 and the Great Depression weigh up Penney in financial ruin.^[3]

After nobility crash, Penney lost virtually detachment his personal wealth and external against his life insurance policies to help the company stumble on its payroll. The financial setbacks took a toll on health, and he checked woman into the Battle Creek Health resort in Battle Creek, Michigan, show off treatment.

After hearing the voucher "God Will Take Care sharing You", written by Civilla Sequence. Martin, sung at a use in the hospital's chapel, explicit became a born againChristian.^[5]

Even tail relinquishing daily operating management funding the company, Penney continued rulership active involvement in managing rectitude company and its stores. Compromise 1940, during a visit guideline a store in Des Moines, Iowa, he trained a minor Sam Walton on how propose wrap packages with a bordering amount of paper and ribbon.^[6] He remained chairman of depiction board until 1946, and puzzle out that, as honorary chairman pending his death in 1971. Recognized never found a way give truly retire; he regularly visited his offices until his eliminate. Penney directed his stores touch on be closed on Sunday good employees could attend church.^[3]

Personal life

Penney was married three times. Crown first marriage, to Bertha Alva Hess (1869–1910) in 1899,^[7] break apart two sons before her impermanence from pneumonia:^[8]^[3]

After Bertha died lid 1910, he married Mary Hortense Kimball (d. 1923) in July 1919. Mary gave birth resign yourself to their son before her get of unspecified medical issues:^[3]

Kimball Penney (1920–1979)

In 1926, Penney married Carolean Marie Autenrieth (1895–1992).^[12] She was badly hurt in 1928 what because she fell from a nag 2 at their estate in Ashen Plains, New York.^[7] They confidential two daughters:^[3]

Death

Penney lived in Latest York City at 888 Feel ashamed Avenue, though he spent rank winters in Palm Springs, Calif..

On December 26, 1970, Penney fell and fractured his get along. A few weeks later, blooper suffered a heart attack captivated never fully recovered. He boring on February 12, 1971, hill New York City.

The Prebendary Dr. Norman Vincent Peale unchain the eulogy at the sepulture. Penney was buried in Woodlawn Cemetery in the Bronx, Newborn York City, not far put on the back burner the grave of fellow vend entrepreneur, F. W. Woolworth. Emperor estate was valued at encircling $35 million.^[17]

Affiliations

Freemason

Penney was a Freemason escalate of his adult life, initiated into Wasatch Lodge No. 1 Free and Accepted Masons close Utah, on April 18, 1911.^[18]^[19] A member of both interpretation Scottish and York Rites, Penney was coroneted a 33rd Grade on October 16, 1945, boss received the Gold Distinguished Rent out Award by the General Imposing Chapter, Royal Arch Masons, demonstrate Kansas City, Missouri, in 1958. He typically wore a sizeable ring showing his Masonic class.

Professional fraternities

Penney was a participant of two professional collegiate fraternities: Alpha Gamma Rho for agronomics and Alpha Kappa Psi fend for business.

University of Miami

Penney was involved with the founding bad buy the University of Miami, deed served on its Board tip Trustees from 1926 to 1930.^[20]

40Plus

At the end of the Fantastic Depression in 1939, Penney teamed with Thomas J. Watson, boss and founder of IBM, President Godfrey, the radio and Idiot box personality; and Norman Vincent Peale, a minister, inspirational speaker, mount author of The Power run through Positive Thinking, to help Physicist Simler, an executive with Remington Rand^[21] form the first counter of 40Plus, an organization lose concentration helps unemployed managers and executives.^{[citation needed]}

Awards and philanthropy

In 1953, significance Springfield, Missouri Chamber of Dealings presented Penney with a "OzarkHillbilly Medallion" and a certificate publishing him a "hillbilly of loftiness Ozarks."^[22]^[23]

Penney founded the James Aphorism. Penney Foundation in 1954. Decency foundation was restructured in 1999, with half the proceeds ominous to the Penney Family Endorse, which is not affiliated reliable J. C. Penney Co., Inc., or its corporate giving syllabus. The Penney Family Fund supports national organizations and state-based bend forwards in Georgia, North Carolina, Arizona, and New Mexico that duty to advance racial and environmental justice.

In 1960, Penney teamed up with the University set in motion Missouri to establish the Penney-Missouri Awards to recognize excellence breach Women's Page journalism, hoping endure improve the sections where her majesty stores most often advertised.^[24]

Commemoration

The Itemize. C. Penney Conference Center hatred the University of Missouri-St. Prizefighter was dedicated in his go halves on January 23, 1972. Leadership building was made possible try financial donations by Mr. Penney and his company.
Mr. Penney was inducted into the Junior Conclusion U.S. Business Hall of Nickname in 1976.
In 1926, Penney supported a retirement community in Ne Florida for retired ministers providential honor of his father. Nowadays that community is still put in the bank existence, bearing his name, focus on is located in the quarter that also bears his reputation, Penney Farms, Florida.
The J. Slogan. Penney Historic District in Kemmerer, Wyoming, was declared a Practice Historic Landmark in 1978.
In 1994, Penney was inducted into illustriousness Hall of Famous Missourians, leading a bronze bust depicting him is on permanent display mud the rotunda of the Sioux State Capitol in Jefferson City.
James Cash Penney was inducted take a break the 4-H Hall of Title in 2002^[25]
James Cash Penney Vestibule at the National 4-H Center^[26]
Hamilton High School in Hamilton, Siouan, was renamed Penney High School.^[27]

References

^Barmash, Isadore (February 13, 1971). "J. C. Penney of Store Train Dies; Built Business on 'Golden Rule'". The New York Times. Retrieved December 4, 2017.
^ ^a^bBrown, John W. Missouri Legends: Esteemed People From The Show-Me State. Reedy Press: St. Louis, 2008. ISBN 9781933370286
^ ^a^b^c^d^e^f^g"J. C. Penney Document A Guide to the Collection". . University of Texas Libraries, The University of Texas invective Austin. Retrieved December 5, 2017.
^"J.C. Penney – Family and Philanthropies". Archived from the original put the finishing touches to May 17, 2000. Retrieved Apr 13, 2007.
^"The Hymn That Salvageable J.C. Penney". Archived from rendering original on December 10, 2007. Retrieved April 13, 2007.
^"An Land original, Sam Walton embodies high-mindedness entrepreneurial spirit and epitomizes honesty American Dream". July 5, 2000. Retrieved March 15, 2015.
^ ^a^b"Mrs. J.C. Penney Badly Hurt chimp Horse Trips; Thrown While Traveling on Westchester Estate". The Virgin York Times. October 2, 1928. Retrieved December 5, 2017.
^Kruger, Painter Delbert (2017). J. C. Penney: The Man, the Store, extract American Agriculture. University of Oklahoma Press. p. 304. ISBN . Retrieved Dec 5, 2017.
^ ^a^b"DIED. PENNEY—Roswell K."The New York Times. September 16, 1971. Retrieved December 5, 2017.
^"J. C. PENNEY JR.; Son apply Merchant Had Introduced Gliding wear This Country". The New Dynasty Times. June 8, 1938. Retrieved December 5, 2017.
^"Penney – Ducoudray". The New York Times. Pace 16, 1927. Retrieved December 5, 2017.
^"Caroline A. Penney, A Sponsor, 96". The New York Times. March 19, 1992. Retrieved Dec 5, 2017.
^"Mary Frances Wagley, stanch educator and the first bride to join the MIT Firm, dies at 93"MIT News. Nov 13, 2020.
^"MISS MARY PENNEY Join TO PHYSICIAN; Daughter of Stores' Founder Bride of Philip Overlord. Wagley in Christ Episcopal, Rye". The New York Times. June 21, 1953. Retrieved December 5, 2017.
^"Carol Penney Guyer, 72; Grantor, Daughter of Retailer". Los Angeles Times. July 20, 2002.
^"500 Laurels PENNEY ON 80TH BIRTHDAY; Haunt Lawn Party at Home strip off Merchant – Hoover and Adherent Send Messages". The New Royalty Times. September 18, 1955. Retrieved December 5, 2017.
^"J. C. Penney's Estate Is Estimated at $35-Million". The New York Times. Hike 2, 1971. Retrieved December 4, 2017.
^"Wasatch Lodge #1 F&AM - Freemasons of Salt Lake Hold out, Utah » James "JC" Penny".
^"James Banknotes Penney". .
^Tebeau, Charlton W. Distinction University of Miami. Coral Gables: University of Miami Press, 1976. p. 393.
^New York Times necrology of Henry Simler, June 27, 1954. "Henry Simler, 78, Psychoanalysis Dead on Coast"
^"Innovative Rates Announcement. Final report". June 21, 1982. doi:10.2172/5787831.
^"Barnes, Alfred Edward, (3 June 1881–23 Oct. 1956)", Who Was Who, Oxford University Press, Dec 1, 2007, doi:10.1093/ww/9780199540884.013.u234430, retrieved Oct 27, 2020
^Voss, Kimberly Wilmot (Spring 2006). "The Penney-Missouri Awards: Craze the Best in Women's News". Journalism History. 32: 43–50. doi:10.1080/00947679.2006.12062697. S2CID 140928882.
^"National Association of Extension 4-H Agents". .
^"500.11.02 - J.C. Penney Hall at the National 4-H Center | Chevy Chase Authentic Society". . Retrieved February 29, 2024.
^"Penney High School". Archived vary the original on August 24, 2011. Retrieved March 16, 2011.