WLM
| generations
Living by the
by June Johnston
“I got it from Penney’s!”
How many times has that
been said that over the
years? Quality merchandise
at affordable prices – that
was the premise on which
J.C. Penney based his
stores. It fit right in with
the foundation of his life –
living by...
The Golden Rule:
Do unto others as you would
have them do unto you.
M
Mr. James Cash Penney, Jr. was born on September 16, 1875 on a farm near Hamilton, Missouri.
His mother gave birth to twelve children (he was
seventh), six of whom lived to be adults. His father was a farmer and a very strict Baptist preacher. James intended to become a lawyer, but his
father’s unexpected death forced him to take a job
as a store clerk to help support the family. His own
poor health caused him to relocate to the west for
a cooler, dryer climate. He eventually went to
work for a Golden Rule store in Longmont, Colorado. Impressed by his work ethic, T.M.Callahan,
owner, soon sent Penney to Evanston, Wyoming
to work in that store with one of his partners, Guy
Johnson. Within three years Penney was promoted to manager and partner.
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Wyoming Lifestyle Magazine | Fall 2014
Mr. Penny
was born on
September 16,
1875 on a farm
near Hamilton,
Missouri.
Penney soon opened his first Golden Rule store in
Kemmerer, about fifty miles east of Evanston, on
April 14, 1902. He invested his life savings of $500
in the store and borrowed an additional $1,500.
The store was wildly successful, doing nearly
$29,000 in business the first year -- despite going
against his banker’s advice of issuing no credit.
When Callahan and Johnson dissolved their partnership in 1907, Penney bought them out and the
basis for his empire was in place.
By 1915, he had 83 stores (incorporated as the J.C.
Penney Company in 1912) and over the following
years the chain grew tremendously. During this
time Penney was paying it forward. He gave huge
amounts to various churches and organizations.