The man who built The House was once known as one of the richest men in Newfoundland. James Ryan was born in Bonavista on April 15, 1842, the oldest of eight sons and two daughters of Elinor Fleming and Michael Ryan.

In 1857, when James Ryan was but 15 years old, he and his father started a fishery supply business and public house at Bayley's Cove, a section of Bonavista. While his father was undeniably a steadying influence on the inexperienced James, there is ample evidence that he played a major role in this business from its beginning.

As the eldest of eight sons, James may have realized early on that each of his brothers should and could make a contribution to his business. Each appears to have received a solid if limited education and, when given the opportunity, each proved that James' faith and trust in their abilities was not misplaced. Only Frederick, the youngest, who died at age 13, was not involved.

James Ryan's initial foray into the fishery supply business was obviously a success. By 1869 he had acquired enough capital to purchase the fishing premises formerly owned by William Keen, a St. John's based merchant who had a series of operations along the east coast of the island during the first half of the 18th century. This substantial piece of waterfront property placed him in squarely in the midst of the mercantile establishment of Bonavista, physically adjacent to his primary competition.

Incorporated in 1870 as James Ryan, the enterprise continued to expand both in Bonavista and into other communities along the coast. Trading operations were soon established at Elliston, Catalina and other nearby communities, as well as further afield at Bay de Verde, Open Hall and Plate Cove.

In partnership with brother Daniel, James Ryan & Company, a separate entity, began business in King's Cove in 1875, with Daniel moving there by 1880 to manage the business himself. He eventually acquired full ownership and in the process became the dominant merchant in that place.

He was one of the last of the Newfoundland firms to use shop-assistants who were trained in England, thereby assuring that his employees would be well-versed in the products they were selling. He also dealt directly with English suppliers, rather than just through St. John's middlemen as many other outport merchants did.

After almost fifty years in business with his base of operations in Bonavista, Ryan relocated his main residence to St. John's. He arranged for the construction of one of the largest and most imposing residences in the city. Located on Rennie's Mill Road in what was then one of the wealthiest parts of the city, from plans created by St. John's architect William F. Butler, it took approximately two years (1909-1911) to build.

It has often been claimed that James Ryan and his brother Daniel were two of the wealthiest men in Newfoundland at the turn of the 20th century, often reputed to be millionaires.

Even though he had a reputation as a strict and spendthrift businessman, he was also a kind and generous man who contributed to many charitable causes during his lifetime. This is truly evident in his final bequests, which, in addition to his wife and sons, who inherited the bulk of his estate, and large sums to his brothers, sisters and their children, there was provision for Mount Cashel Orphanage, Belvedere Orphanage, the Church of England Orphanage, the Methodist Orphanage and a trust to form a permanent relief fund for the poor of Bonavista.

'James Ryan's Bonavista operations and his various subsidiary companies carried on business, adapting to changes in the fishery; until the closure of King's Cove in 1934 with the death of Daniel, and with the final closure, of what was once an extensive network, of the Elliston branch store sometime in the 1970's. After that date, the Ryan Premises were designated a National Historic site in 1987 to commemorate the national historic significance of Canada’s east coast fisheries; and that the site was officially opened by Her Majesty the Queen on June 24, 1997. The House at Rennie's Mill Road is a tangible reminder of the economic importance of the Newfoundland fishery and a way of life that it was able to sustain and support for more than 500 years.