His successful journey began in his twenties as a partner in a
hardware store. Within ten years, Stetson bought out his partner, and renamed the store
James B. Stetson and
Company, which it remained until 1878. It was then consolidated with another to become Holbrook, Merrill & Stetson, and developed into one of the city’s leading
wholesale houses for stoves and metals. His ongoing interests in mechanics and manufacturing kept him closely involved with the city’s distinctive cable car industry,
and in 1888, Stetson became president of the California Street Cable Railroad. He served in this capacity until his death more than twenty years later.
When the earthquake occurred, Stetson was home and first checked the well-being of his family. After ensuring their safety, he observed the slow destruction of the city, including his businesses.
April 18th: I then went over to the power-house of the California Street Railroad and found that the smoke-stack had fallen even with the roof and things considerably disturbed, but the engines were apparently uninjured… I then started on foot downtown; no cars were running on any line. I saw that Holbrook, Merrill & Stetson, was all on fire.
April 19th: Early in the morning I went over to the California Street power-house and had a talk with Mr. Harris. He said that he had run out some cars, but as the water was shut off and very low in the boilers, it was not safe to get up steam, and he was unable to get horses to haul away the cars; so nothing could be done but await the result, which was that every car in the house and those in the street, some of them eight blocks away, were all burned.
April 20th: In the morning I went over to the California Street engine-house, and found it in ruins. It was a sad site to me, for I had something to do with it from its earliest existence. The prospect of ever repairing and getting this machinery and appliances in operation again seemed impossible.
However, due to his dedication and perseverance, the California Street Railway Company was up and running again in five months.