" Solvent Indeed "

H. T. Parsons, President of the F. W. Woolworth Co., sharply disagreed with the fears for future business reflected recently by falling security prices. In his opinion, merchandise prices are stable, merchants well financed and not overstocked and shipments prompt.

Undoubtedly his optimism is justified if only his own Company were taken as a criterion. Mr. Parsons estimated Woolworth sales for 1923 at $180,000,000, compared with a gross of $167,000,000 for 1922. The Company has no bonded indebtedness; it retired last February 100,000 shares of preferred stock at 125 by paying out $12,500,000; also, during 1922 the item of "goodwill" in its statement was reduced from $50,000,000 to $30,000,000 by the use of $20,000,000 from profit-and-loss surplus.

The company expects to open 60 new stores in various sections of the country during 1923.