Woolworth Splits Stock

The directors of the F. W. Woolworth Co. have recommended to the stockholders of the Company a "split up" of the Company's present common stock, four new shares for one old share. This means merely that the present 650,000 shares of $100 stock outstanding will be converted into 2,600,000 shares of $25 par stock The par value of outstanding stock will remain unchanged at $65,000,000. The change is recommended in order to make a wider distribution of the shares possible, since the old shares have been selling in the market at the flattering but awkward figure of about $300 each.

This is the third important change in the capitalization since the Company was organized in 1912. At that time it had $50,000,000 of common and $15,000,000 preferred, both $100 par. In April, 1920, the directors declared a 307 stock dividend on the common, bringing it up to $65,000,000. Sinking fund provisions reduced the preferred issue to $10,000,000 between 1912 and 1923, and in the latter year the latter remaining amount was all retired at $125 a share.