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Do my internet of things home automation devices reaction about emotional intelligence how to earn cashback on credit cards James cash JCPenney JR was an American businessman and entrepreneur who founded the JCPenney stores in 1902 JCPenney stores in 1898 Penney began working for a small chain of stores in the western United States called the Golden Rule stores in 1902 owner Skye Johnson and Thomas Callahan impressed by his work ethic and salesmanship offered him 1/3 partnership in a new store he would open Penney invested $2,000 and moved to camera Wyoming to open a store there he participated in opening to more straws and when Callahan and Johnson dissolved their partnership in 1907 he purchased full interest in all three stores by 1912 there were 34 stores in the Rocky Mountain States in 1913 he moved the company to the Kearns building in downtown Salt Lake City Utah the company was incorporated under the new name JCPenney company in 1916 he began to expand the chain east of the Mississippi and during the 1920s the Penney stores expanded nationwide with 120 stores in 1920 by 1924 pennies reported income of more than 1 million dollars annually the number of stores reached 1400 by 1929 the large income allowed Penney to be heavily involved in many philanthropic causes during the 1920s by 1921 Penney had a home on Biscayne Bay in Miami penny and partner Ralph W Gwynn had invested heavily in Florida real estate including 120,000 acres in Clay County some of this land became penny farms this was also the start of full most dairy products incorporated penny later recruited Paul E Reynold to run the dairy most of this work was halted when the stock market crash of 1929 and the Great Depression left Penney and financial ruin after the 1929 stock crash Penney lost virtually all his personal wealth and borrowed against his life insurance policies to help the company it's payroll the financial setbacks took a toll on his health penny checked himself into the Battle Creek Sanitarium where he was treated after hearing the him God will take care of you being sung at a service in the hospital a euro on magister trademark as Chappell penny became a born-again Christian even after relinquishing daily operating management of the company penny continued his active involvement in managing the company and its stores in 1940 during a visit to a store in Des Moines Iowa he trained a young Sam Walton on how to wrap packages with a minimal amount of paper and ribbon he remained as chairman of the board until 1946 and after that is honorary chairman until his death in 1971 until the end of his life he continued to go to his office's personal life JCPenney was born on a farm outside of Hamilton Caldwell County Missouri to James Cash Penney senior and Mary Frances Penney he was the seventh of twelve children only six of whom lived to adulthood Penny's father was a Baptist preacher and farmer who strict discipline included making his son pay for his own clothing once he reached his late preteens his intentions after graduation from Hamilton high school were to attend college with the hopes of becoming a lawyer however his father's untimely death forced a change in plans with penny taking a job as a store clerk to help support the family Penny's health problems caused him to venture west along Mont Colorado in his early twenties where he found employment with a previously mentioned golden rule stalls James Cash Penney married three times in his life his first wife Bertha Alva Hess died of pneumonia and the second wife Mary Hortons Kimball also died of unspecified medical issues in 1924 finally Penney found lasting love with third wife Caroline Marie autumn wreaths to whom he was married 45 years until his death by his first wife he had two sons Roswell pani and James C Penney three his second wife he had another son Kimball penny and by his third wife he had two daughters Mary Francis penny and Cal penny penny lived in New York City at 888 Park Avenue though he spent the winters in Palm Springs California on December 26 1970 penny fell and fractured his hip just a few weeks later he suffered a heart attack all never fully recovered he died February 12th 1971 the reverend dr norman vincent peale delivered the eulogy at Penny's funeral penny was buried in the Bronx section of New York City his grave at the Woodlawn Cemetery is not far from that a fellow retail entrepreneur FW Woolworth affiliations penny was a freemason most of his adult life being initiated into was such Lodge number one free and accepted masons of Utah on April 18th 1911 a member of both the Scottish and York rites penny was coronated a 33rd degree on October 16th 1945 and received the gold Distinguished Service Award by the general grand chapter Royal Arch Masons in Kansas City Missouri in 1958 he typically wore a large ring showing his Masonic degree penny was involved with the founding of the University of Miami and served on its board of trustees from 1926 to 1930 at the end of the Great Depression penny teamed with Thomas J Watson president and founder of IBM Arthur Godfrey the radio and TV personality a norman vincent peale a minister inspirational speaker and author of the power of positive thinking to help henry similar an executive with the remington ram company form the first board of 40-plus an organization that helps unemployed managers and executives penny was also member of two professional fraternities Alpha Gamma Rho and Alpha Kappa Psi penny founded the James C Penney foundation in 1954 the foundation was restructured in 1999 as the penny Family Fund and is no longer a with JC penney company incorporated or its corporate Giving Program today the fund is part of the Common Council Foundation an Oakland California based consortium of family philanthropic foundations and individual donors the Penney Family Fund in dows organizations in Oregon California and Washington State that worked to advance human rights community social political economic empowerment government accountability and environmental sustainability commemoration the JC Penney conference center at the University of Missouri St Louie was dedicated in his honor on January 23rd 1972 the building was made possible through financial donations by mr. Penney and his company mr. Penney was inducted into the Junior Achievement US business Hall of Fame in 1976 the JC Penney historic district in camera Wyoming was declared a national historic landmark in 1978 in 1994 Penney was inducted into the Hall of famous Missourians and a bronze bust depicting him is on permanent display in the rotunda of the Missouri State Capitol in Jefferson City Hamilton High School in Hamilton Missouri was renamed penny high school references in popular culture penny along with Richard Warren Sears is the flawed protagonist of the get Bezos series of the sleep with me podcast references further reading Kruger David Delbert JCPenney Missouri man Wyoming institution annals of Wyoming the Wyoming history journal 80 pages 20 euro 36 Kruger David D a euro OE James Cash Penney the impact of a Main Street merchants on Oklahoma a hero chronicles of oklahoma 89 260 87 external links a euro OE two American entrepreneurs Madame CJ Walker and JC Penney a euro a National Park Service teaching with Historic Places lesson plan James Cash Penney at find A Grave uwindsor capstone projects order Wesleyan.