Word: woolworth
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...storage battery under an agreement with Mr. Edison. During the War he gave his entire time to naval engineering work for the Government. He is the owner of more than 600 patents and is internationally known in engineering circles. His offices are on the 51st (top) floor of the Woolworth Building, Manhattan...
...issuance last week of the annual reports of the two leading American chain-store companies- the F. W. Woolworth Co. and the S.S. Kresge Co.-again demonstrated extraordinary profits earned in recent years by this class of merchants. Woolworth last year enjoyed the benefits derived from the splendid profits made in 1922, when net income of $18,324,399 and surplus of $22,038,950 enabled the company to retire its preferred stock, reduce its good will item by $20,000,000 and still have a surplus of $10,663,349. Last year net income set a new record...
...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...
...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...
...Christopher Wren, architect of St. Paul's Cathedral, Chelsea Hospital, Hampton Palace, London, was celebrated on Oct. 20 (Wren's birthday) at William and Mary College, Virginia. Wren designed the main building of the College-his only work in America. Cass Gilbert, distinguished architect of the Woolworth Building, made the principal address...