THE MILL WHISTLE
s.-'
^bliihed by Proper, Gfeenvitle, Leaksville, SmifhfieW and ^r^NTcfRiWolS Va. and A»b»rn. N. Y,
Vol. XX
Spray, N. C., Monday, February 5, 1962
NO. 15
M national geographic — Reba Myers, center, and co-workers Carnell
Hall left, and Audrey Ingram, all of Karastan Designing, discuss picture of Reba
which appears in the February National Geographic Magazine. (Story on page 8).
Credit Union Has Good Growtii Durini; 1961
Financial Statement
Given For Mutual Aid
The annual financial statement of the
United Mutual Aid Association was ap
proved by the association’s board of
directors at their meeting last week.
The statement is posted on the mill
bulletin boards and is printed on page
three of this issue of The Mill Whistle.
The report shows that the Mutual Aid
^ociation in 1961 received $274,506.28
in dues and other income. The associ
ation paid out $294,774.73 in benefits for
ttiembers and their dependents. Claims
Paid in 1961 totaled 3,437, as compared
"^ith 3,372 claims paid in 1960.
The net operating loss of $20,268.45
^as made up by transferring funds
from the reserve which has been built
lip over a period of years.
This reserve, which amounted to $80,-
070.85 at the beginning of 1961 had been
I'educed to $59,802.40 when the year
®nded.
, The loss was due to the steadily ris
ing cost of hospitalization and increased
Jisage of hospitals by Mutual Aid mem
bers and dependents. The association’s
irectors hope that with the recent in-
crease in dues and other changes in the
(Continued on page three)
Sheet Cutting, Sewing
Will Be Transferred
To Nantucket Building
All sheet and pillow case sewing,
Packaging and warehousing operations
being consolidated in the Nantucket
building where the first floor will be
Used for manufacturing and the second
and third floors for warehousing.
The removal of the sheet and pillow
Case operations from the Bleachery,
inishing Mill and Central Warehouse
^Uildings will release space which is
adly needed for blanket operations.
The transfer of equipment began Jan
izary 27 and it is expected that the move
^ill be completed and manufacturing
parted in the new location before
^arch 1.
Approximately 125 persons will work
n the relocated operations.
The new arrangement will make it
wssible to consolidate all storage of
J>lankets in the Central Warehouse and
J-ily warehouse and all sheet storage
in the Nantucket building.
The Fieldcrest Mills Credit Union had
assests totaling $407,253 as of December
31, 1961, having increased from $311,170
at the end of 1960.
Membership grew from 2223 at the
beginning of the year to 2718 at the close
of 1961, an increase of 495 members.
The Credit Union made a total of
2,596 loans to members and had 1,304
loans outstanding at the end of the
year. Loans were made for a wide va-
yiety of purposes, including the financ
ing of automobiles or appliances, medi
cal and dental bills, taxes, consolida
tion of debts and for other needs.
During the year, the Credit Union
paid its members a four per cent per
annum dividend on savings whicli
amounted to $10,690.
The Credit Union was expanded to
cover employees of the Towel Mill at
Fieldale, Va., and employees of the
Fieldcrest and Karastan sales divisions
in all parts of the country.
These are highlights of the financial
statement presented at the annual mem
bership meeting Friday afternoon, Jan
uary 26, at the Consolidated Central
YMCA. The financial statement is print
ed on page eight of this issue of The
Mill Whistle.
Robert A. Harris, president of the
Credit Union, presided and presented
the financial statement. He commented
on the “very successful operation” of
the Credit Union which he said is con
sidered one of the outstanding credit
unions in the state.
As an additional benefit for Field
crest employees, Mr. Harris said the
Credit Union serves a valuable purpose
(Continued on page eight)
lEC Offers Courses
The Leaksville - Rockingham County
Industrial Education Center has sched
uled adult courses in Business Educa
tion to begin February 13. All classes
will be open to both men and women.
The following courses will be offered
if sufficient interest is shown: Business
English, Notehand, Business Filing, Ad
vanced Typing, Elementary Typing and
Elementary Bookkeeping.
Those interested in any course in Bus
iness Education should report to the
Industrial Education Center during the
first week in February.