J.C. Penny Store to Open in Paragould 1920
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DOCUMENT WRITTEN AND RESEARCHED BY : TINA EASLEY
I HAVE CREATED THIS DOCUMENT WHILE RESEARCHING THE OLD NEWSPAPERS .
Saturday, August 30, 2008
http://www.usgennet.org/usa/ar/county/greene/
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SEPTEMBER 10 , 1920 - THE PARAGOULD SOLIPHONE
NEW STORE TO OPEN HERE IN EARLY JANUARY
J.C. PENNY COMPANY CLOSES TEN-YEAR LEASE WITH GRIFFIN SMITH FOR ARKANSAS STORE BUILDING
CONTRACT FOR A TEN YEAR LEASE ON THE BUILDING ON NORTH PRUET STREET COMMONLY KNOWN AS THE "ARKANSAS STORE " HAS BEEN LET BY GRIFFIN SMITH TO THE J.C. PENNY COMPANY OF 354 FIURTH AVENUE , NEW YORK . THE LEASE BECOMES OPERATIVE JANUARY 1, 1921 , AT WHICH TIME THE PENNY COMPANY EXPECTS TO PUT IN A STOCK OF DRY GOODS , READY TO WEAR , CLOTHING , FURNISHINGS AND SHOES .
MR. J.B. TOWNER , REPRESENTATIVE OF THE COMPANY , WAS IN PARAGOULD AUGUST 28TH AND NEGOTIATED THE LEASE . THE J.C. PENNY COMPANY IS A CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF UTAH , AND AT PRESENT IS OPERATING THREE HUNDRED AND ELEN STORES , MOST OF WHICH ARE IN THE WESTERN STATES. MR. TOWNER STATED THAT THE LOCAL STOCK WOULD PROBABLY AMOUNT TO ABOUT $60,000.00 . IT IS UNDERSTOOD THE PENNY STORE DOES ONLY A CASH BUSINESS.