The Washington times., 1928-12-13
j AND TO- CHIEF
SEES BIC YEAR
AHEAD
BY w. S. COUSINS

NEW YORK, Dec. 13 U.N.S.).--
II believe that 1928 will be banner
year both in industry and in retail
selling" said Fl. T. Parson, presi.
dent of the F. w. Woolworth Com.
pany, to international News Service
today.
AS head OF the Woolworth chain
of I,725 stores, situated in strategic
positions in the retail centers of the
country, Parson is admirably
situated to estimate accurately the
buying power of the American
people. Last year the Woolworth
stores sold 1912 100000 worth Of
goods at retail, and in the current
year they are expected to pass over
their counters a total of $287 ,000, 900
retail prices.
From every standpoint, I am
confident that we are in for d good
business year directly ahead, said
Farson. when asked to summaries
his reasons for arriving at that
conclusion, he said:
Earnings High
First and foremost, because Of
the high rate Of earnings of in.
dustry and business this year, The
crops of 1928 were good, and
marketed at better prices than be-
fore, which will mean that that
money carries over into 1929 to
stimulate business.
Unemployment is gradually de-
creasing, as each month since the
first Of September shows q gradual
decrease in unemployment and an
increase in the per capita wage,
which will give added buying
power.
THE export business OF the
country is improving steadily, and
we will have large export credit
for this year. No doubt 1929 will
show further Improvement in ex-
ports of American products to for.
eign countries, our mass produc-
tion produces higher wages for the
individual worker and keeps the
cost of the finished product down,
so that we can successfully COM
pete in the markets OF the world
for business,
THE political situation has been
definitely clarified, and the people
overwhelmingly endorsed the con-
tinuation Of the policies OF Presi-
dent Coolidge, which will be fol-
lowed by President Hoover.
AS there is no breach in the politi-
cal atmosphere, this establishes the
business OF the country.
Aid Seen On All Sides
1.-THE Presidents message is very
constructive, and If the policies out
lined by him are carried through by
Congress, it will materially aid the
railroads, one of the backbones Of
prosperity in the country. With
all Of these positive factors operat-
ing, see no reason why business
conditions in this country should
not steadily improve
In his magnificent office In the
WoolWortl1 tower on the edge Of
the metropolitan financial district,
Parson directs the vast chain of
"F'iye-and-Ten" stores which are
such a familiar landmark in the
retail business sections Of big and
small towns and cities all over the
country. During the current year
143 new stores were added to the
chain. and as this is the normal
rate OF growth the Woolworth. sys-
tenn will include more than 1000
stores, all UP and going, before
another year has ended.
Il look for a much greater ex-
tension of the chain store system
along present lines in the years to
come" said Parson, citing a num-
ber of the well-known mercantile
establishments whose names have
become bywords in American fam
lies.
Consumer Gains
"The American consumer" he
said, receives the benefit of the
vast savings in buying. production