on 5 November 1909 with a performance by a full orchestra, circus acts and fireworks. As a means of adherence to American trading tradition, only viewing of items was allowed on the first day of the shop's opening. This included guests being given complementary tea while being entertained by a traditional brass band in the refreshment room. The event was reported positively by the local newspaper, the Liverpool Courier, which praised the decor of the stores along with the value and range of items on sale. Despite local press praise, British national newspaper the Daily Mail likened Frank Woolworth to Phineas Taylor Barnum and claimed that the store location had been decided as part of a contingency plan in the event of failure so as to facilitate escape from any financial liability. Despite these reservations, the store proved to be a success; large queues outside and low priced 3d. and 6d. ("threepenny and sixpenny") items leading to it being almost stripped bare of goods before the end of the first day of trading and being attributed to mass purchased mass-produced foreign and local goods. At the onset of the First World War, F.W. Woolworth & Co. had 40 stores in Great Britain and Ireland located in most major cities - from which a total of 57 staff including store managers had enlisted; the majority of whom did not return after the end of the war in 1918. Despite American staff again offering their services to the Woolworths branches in Britain, remaining staff increased their efforts to cope with the lack of staff members throughout the war with several staff members being promoted to managerial positions. Stores in the United States, which were then stocking ranges also present in British stores were dependent upon European manufacturers which had adopted newer production methods than their American counterparts. 1918–1982 After the First World War, the company continued to expand with the opening of further branches. By 1923 there were 130 branches, and William Lawrence Stephenson (1880–1963) became managing director. He implemented a strategy of major expansion, with the company buying or building freehold properties. Many of the stores had distinctive faience tiled art deco frontages. The expansion was funded entirely out of earnings and without any borrowing or further capitalisation. The 400th branch, at Southport, Lancashire, opened on 12 July 1930, and the company was floated on the London Stock Exchange in 1931.