Penney Suit

James Cash Penney has done a lot for Florida. His chainstore millions built a limestone palace near Miami which Herbert Hoover used as his pre-inaugural White House. More millions went into Penney Farms where an Institute of Applied Agriculture teaches Florida farming to Florida farmers. And at least three Penney millions went into a yawning Florida hole—Miami's City National Bank. In 1928 when City National was still teetering from the collapse of the land boom and the damage of the Great Hurricane, James Cash Penney and his associates bought control, injected $2,000,000 of...

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