DEAD: ON THIS DATE
James Cash Penney (aged 95)
Founder of J. C. Penney
James Cash “J. C.” Penney Jr. (September 16, 1875 – February 12, 1971) was an American businessman and entrepreneur who founded the J. C. Penney stores in 1902.
DEATH: Penney lived in New York City at 888 Park Avenue, though he spent the winters in Palm Springs, California. On December 26, 1970, Penney fell and fractured his hip. Just a few weeks later, he suffered a heart attack and never fully recovered. He died February 12, 1971. The Reverend Dr. Norman Vincent Peale delivered the eulogy at Penney’s funeral. Penney was buried in Woodlawn Cemetery in The Bronx, New York City, not far from that of fellow retail entrepreneur, F. W. Woolworth. His estate was valued at approximately $35 million.