Woolworth Company

The property of the Woolworth stores is the envy of most business executives of the country. The stock of the company rises continually, during depressions and booms alike. The directors have now authorized that another $10,000,000 of the good will in the company's statement be written off, which will bring this item down to $20,000,000 from $50,000,000, where it stood in 1922. A year ago, $20,000,000 was written off. This conservative policy contrasts strongly with the recent practice of many American companies in using up surpluses to declare stock dividends.

The F. W. Woolworth Co. has also acquired the famous Woolworth Building on Broadway, Manhattan, out of sentiment to the founder and also because the company's headquarters has long been located there. At the death of the late Mr. Woolworth, the building bearing his name was held by the Broadway-Park Place Co., which Mr. Woolworth owned. The shares of the latter passed to the Woolworth estate. By the sale of the Woolworth Building, ownership is now transferred to the thousands of stockholders in the F. W. Woolworth Co. all over the country and even abroad.