In 1838 he resigned his position at Aull’s, and in partnership with James S. Allen and William Early opened a retail store under the name of Allen, Russell & Company. Whether this was in “Old Town” or the new addition is not known, although it probably was the former. . . .
The only thing which seems to have marred this period of prosperity [1838-1845] was the failure of Allen, Russell & Company in 1845. This was his first experience in that sort of thing, but it was by no means his last.