By 1907, he owned three Golden Rule stores. Two years later, he moved his headquarters to Salt Lake City, Utah. Sadly, his wife Berta died a year after the move; however, “despite his grief, Penney’s business continued to prosper.” His chain was incorporated in 1913 as J.C. Penney and Company, as others had begun to steal the Golden Rule name (rather ironic). He moved his headquarters again in 1914, this time to New York City. He married Mary Kimball in 1919, but she, too, died in 1923, leaving him with their only child together, Kimball. A year after her death, he opened his 500th store in his hometown of Hamilton, Missouri. During the 1920s, he also became involved in the beef industry. During this time, he also bought his father’s farm. In 1926, he married again, this time to Caroline Autenrieth.
The Great Depression hit the nation at this time, and, while the company as a whole grew, even during this time, Penney personally experienced financial loss. As he sank into depression, a friend suggested he enter a sanitarium, which he did. While in the sanitarium, he overheard a chapel service one morning, where the doctors and nurses were singing a hymn he remembered from his childhood. Someone also read Matthew 11:28, in which Christ promises rest to those who come to Him. At that moment, he, for the first time in his life, truly placed his faith and trust in Jesus as his Savior. “His financial fortunes began to be restored in the mid-1930s. As that happened, he renewed his support of various charities, putting millions of dollars into the Penney Retirement Community in Penney Farms, Florida, Christian Herald magazine, and more than 100 other organizations ministering in the United States and around the world.”
Penney spent his later years speaking and writing. He lived to be 95 years old, dying in 1971 in New York City. He had five children, two sons with his first wife, one son with his second, and two daughters with his third. Upon his death, J.C. Penney and Company had 1,660 stores. The only store larger was Sears, Roebuck, and Co. He remained a strong Christian after his conversion in the ‘30s. At the time of this death, James Cash Penney was tithing 90 percent of his earnings from his company, because God was blessing him so greatly. Because he honored God with what he was given, God rewarded him with more. “You were faithful with a few things, [sic.] I will put you in charge of many things.” (Matthew 25:21)
School project I thought I might as well post. If you want my sources or where I quoted from, just ask.Statistics: Posted by jesusgirl4ever — Fri Feb 05, 2016 1:34 am
]]>