James Cash Penney facts for kids

Quick facts for kids James Cash Penney
Penney circa 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, New York, U.S.
Occupation	Businessman entrepreneur
Years active	1898–1971
Known for	Establishing J. C. Penney department stores in 1902

James Cash Penney Jr. (September 16, 1875 – February 12, 1971) was an American businessman. He was a smart and hardworking person who started the famous J. C. Penney stores in 1902. These stores became a big part of shopping for many families across America.

The Early Life of James Cash Penney

James Cash Penney was born on September 16, 1875. He grew up on a farm near Hamilton, Caldwell County, Missouri. He was one of twelve children, but only six lived to be adults. His father was a preacher and a farmer. He taught James to be responsible. For example, James had to pay for his own clothes when he was a teenager.

After finishing high school, James wanted to go to college. He dreamed of becoming a lawyer. But his father passed away unexpectedly. This changed James's plans. He needed to help his family. So, he took a job as a store clerk. Later, some health challenges led him to move west to Longmont, Colorado.

Building the J. C. Penney Store Empire

J. C. Penney's first store in Kemmerer, Wyoming.

In 1898, James Cash Penney started working for a small group of stores. These stores were called the Golden Rule stores. They were located in the western United States. James was a very hard worker and great at selling things.

Opening the First Store

In 1902, the owners, Guy Johnson and Thomas Callahan, were very impressed with James. They offered him a special deal. He could become a partner and open a new store. James invested $2,000 of his own money. He moved to Kemmerer, Wyoming, to open his first store there.

He helped open two more stores. In 1907, Johnson and Callahan decided to end their partnership. James bought all three stores from them. He now owned them completely.

Growing Across the Country

By 1912, James had 34 stores. They were all in the Rocky Mountain States. In 1913, he moved his company to Salt Lake City, Utah. The company got a new name: J. C. Penney Company.

James began to expand his stores eastward in 1916. By the 1920s, J. C. Penney stores were all over the country. In 1920, there were 120 stores. By 1929, this number grew to 1,400 stores! James was earning a lot of money. He used some of it to help others. He supported many good causes.

Facing Tough Times

The stock market crash of 1929 was a very difficult time. It led to the Great Depression. James Penney lost almost all of his personal money. He even had to borrow money against his life insurance. This helped his company pay its workers.

These financial problems affected his health. He went to a special hospital for treatment. While there, he heard a song called "God Will Take Care of You." This song deeply touched him. It helped him find new hope and faith.

Even after he stopped managing the company every day, James stayed involved. He continued to visit stores. In 1940, he even taught a young Sam Walton how to wrap packages. Sam Walton later founded Walmart. James was the chairman of the board until 1946. After that, he was the honorary chairman until he passed away in 1971. He went to his office almost every day until the end of his life. He also made sure his stores were closed on Sundays. This allowed employees to go to church.

James Penney's Family Life

Boyhood home in Hamilton, Missouri.

James Penney was married three times and had five children. His first wife was Bertha Alva Hess. They married in 1899 and had two sons, Roswell and James III. Bertha passed away in 1910.

In 1919, he married Mary Hortense Kimball. They had one son named Kimball. Mary also passed away a few years later.

In 1926, James married Caroline Marie Autenrieth. They had two daughters, Mary Frances and Carol Marie.

James Penney lived in New York City. He also spent winters in Palm Springs, California. On December 26, 1970, he fell and broke his hip. A few weeks later, he had a heart attack. He passed away on February 12, 1971. He was buried in Woodlawn Cemetery in New York City.

His Connections and Legacy

James Penney was a member of many groups. He was a Freemason for most of his life. He also helped start the University of Miami. He served on its Board of Trustees.

He worked with other famous people like Thomas J. Watson (who founded IBM) and Norman Vincent Peale (a famous speaker). They helped create an organization called 40Plus. This group helps unemployed managers find new jobs.

In 1954, James Penney started the James C. Penney Foundation. This foundation helps organizations that work for human rights, community empowerment, and a healthy environment.

He also worked with the University of Missouri to create the Penney-Missouri Awards. These awards recognized excellent journalism.

Remembering James Cash Penney

Many places and awards honor James Cash Penney:

• The J. C. Penney Conference Center at the University of Missouri-St. Louis was named after him. He and his company helped fund it.
• He was inducted into the Junior Achievement U.S. Business Hall of Fame in 1976.
• In 1926, he founded a retirement community for ministers. It is still active today and is in the town of Penney Farms, Florida, which is also named after him.
• The J. C. Penney Historic District in Kemmerer, Wyoming, where his first store was, is a special historic place.
• He was inducted into the Hall of Famous Missourians in 1994. A bronze statue of him is in the Missouri State Capitol.
• He was inducted into the 4-H Hall of Fame in 2002.
• James Cash Penney Hall is at the National 4-H Center.
• Hamilton High School in his hometown was renamed Penney High School.