 Peabody was the founder of Peabody, Daniels & Company, which bought coal from mines and sold it to Chicago area homes and businesses.In 1903, his company forged a deal with the Chicago Edison Company to be the main supplier of coal for local power plants.Coal demand for these plants skyrocketed, and by 1920, Peabody's company supplied over 2.3 million tons of coal per year.