Evening star., 1922-12-30
GOOD WILL Being
TURNED1NT0CASH
Many Big Corporations Are
Adopting New Policy, Which
Aids Stockholders.
BY J. @. ROYLE

Special Dispatch to The Star.
NEW YORK. December 30.-Nobody
discounts good will and particularly
At this season OF the yesr. but scores
OF companies are determined to own
their own. In other words they are
turning the asset Of good will as car
ried on their books into cash-buying
1t from themselves. The lead wa.
taken by the F. W. woolworth Com
pany. whose directors approved an
appropriation OF S.p.o0o.ooo OF the
company's profit and loss surplus 30
be applied to the reduction of good
will. which II estimated recently at
$b0.ooo.ooo. The company plans 20
amotrize this good Will until such
time as the intangible value has been
turned into tangible assets or dollars
This present move will leave $4,000
600 as Intangible good will assets OF
the Woo!worth Company, as $4,000
600 under this head consists OF lease
holds
Other companies are following the
Wooiworth example. Some are add
| ing to their own good will assets b.
| turning their employees into stock
holders. Standard OIL Of New Jersey
employees are watching the end of tn.
I year quotations closely, for they have
the right to subscribe for the COM
mon stock of the company at a price
| determined by the averag. selling
price Of the companys stock during
the last three months OF the year.
Trustees Fix the Price.
Trustees fix the price at not more
than average. and not less than 10 per
| months. and employees have the right
| to subscribe 90 per cert Of their saia
! ries for such purchases. with III"
| company adding SO cents for each
| dollar so subscribed.
Scores OF other companies are bu!
| ing back their good VIII, or wha
amounts to the same thing. under ar
| other name, the loyalty OF their en-
ployes. The New York Telephone
! Company will accept only such err,
prove loyal. The American Smelt.ns
and Refining Company makes s!mtlar
! discrimination In selecting its ofncers
| workers and executives. Loyany ~
! an asset. but labor turnover 10 a ~
! bility and ranufacturers and Iarge
\ eliminating the one and AIDING 10 'he
| other.
Heavy stocks Of Cotton.
Les. than 300. 900 bales Of cotton, ca
elusive OF ts,at in transit remains IN the
| interior Of Texas. Stocks at Galveston
Houston and other ports ere not III
cluded. Good news was orougnt 20 .he
| wool market by announcement that the
Southwestern Wool Sro~en over. ~ goo,
and mol,air for sale. About $4,000
pounds sold by the association brought
prices Of from % to 81 cents a pound
f, for wool and so to as cents for nohair'
II is expected by oil men that tne
| Standard OIL Company Of New jersey
| in carrying out its contract with the
/ United States Shipping Board 20 fur
| nish ten million barrels OF fuel OIL IN
| 1923 will draw the larger part or this
supply from California
Building StiIi Booming.
IN some sections of the counir'
building contractors are hndinE u
necessary to pay q commission oebider
finance building operations but ~
other sections funds for home-build-
4 ing operations are readily available
without commission charges. In chi
caeo II is estimated that December
has been the biggest building month
! the city has ever seen. Expenditures
| for the year increased about $2.e'coo.-
ocn
! The Georgia department of aErt-
culture. which purchases calcium
arsenste for all the farmers OF the
state with which to fight boil weevil
| and which reselis II to planters al
cost. has made no movement toward
| contracting for the seasons supply
because of the charge that the mar
ket has been manipulated or eornered.
Reports that a large amount Of cot
! ton for export had been bought
through the Cooperative Cotton
Growers Association could not be
! verified. but are firmly believed By
| Coryright, 1921