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Spray, N. C., May 15, 1967
Fieldcrest May Merge With Dan River
• - -Jr
Saf J’’*®**® Lester (left). Burling, and Lois Joyce, Setting, admire Award of Honor
®ty plaque won by Karastan Mill. Holding the plaque is Eoy Whitten, foreman of
* Burling Department. More pietures on pages four and five.
I^arastan Receives ‘Award Of Honor’
^^fftployees of the Karastan Mill have
the Award of Honor for their out-
mg safety performance. The
jj the highest given by the Nation-
j. Safety Council, was earned by the
th employees for working more
two million man-hours without a
where an establishment’s record
6 Award of Honor is presented
Satisfied rigid requirements laid
by the Council’s award plan for
(jj^Shizing good industrial safety rec-
ir^^Ward Pyle, president of the Na-
k^al Safety Council, in a letter to
W. Klein, division vice president-
jjS manufacturing, explained that the
k fastan Mill qualified for the award
to January 1, 1967.
Ij'^ause of its injury-free period of
man-hours from September 16.
L ^s of May 1, the Karastan employees
■ accumulated 2,769,863 injury-free
^ 9-hours and were aiming at a new
of three million man-hours which
be reached by about July 1. Cur
rently, the Karastan Mill has the top
safety record at Fieldcrest Mills from
the standpoint of hours worked without
injury and has the best record that
Karastan has ever achieved.
The handsome plaque signifying the
Award of Honor was presented to the
Karastan employees at meetings held
on all three shifts. At the first meeting
Robert A. Harris, vice president-manu
facturing spoke briefly to congratulate
the employees and to express the com
pany’s pride in their accomplishment.
Mr. Klein, in a brief talk, pointed out
that the Award of Honor v.'as earned by
only 17 of the 8,000 plants whose safe
ty records were evaluated by the Na
tional Safety Council. He said Karastan
was the second Fieldcrest plant ever to
win an Award of Honor.
John G. Cunningham, general superin
tendent of the Karastan Mill, expressed
appreciation to the employees, the su
pervisors and particularly the safety
committeemen, pointing out that it took
the combined efforts of all to win such
(Continued on Page Four)
Boards Of Directors Give
Tentative Approval; Must
Be Approved By Stockholders
Discussions have been in progress be
tween Dan River Mills, Incorporated,
and Fieldcrest Mills, Inc., looking to the
development of a plan for the merger of
the two companies. It is intended that
the name of the surviving corporation
will be Dan River-Fieldcrest, Inc.
The announcement was made May 11
by William J. Erwin, Chairman of the
Board, and Robert S. Small, President of
Dan River, and Harold W. Whitcomb,
Chairman of the Board, and G. William
Moore, President of Fieldcrest.
The boards of directors of the two
companies May 11 approved in principle
a plan which would provide to Field
crest stockholders an exchange ratio of
.54 shares of Dan River common and .5
shares of of a new Dan River con
vertible preferred for each share of
Fieldcrest common. Each full share of
the Dan River preferred would carry a
dividend of $1.36 and be convertible
into one share of Dan River common.
This action of the boards of directors
was expressly subject to the verification
of certain conditions and to agreement
on the detailed operative terms of the
plan. If these conditions are met, the re
sulting plan will be subject to the ap
proval of the stockholders of each com
pany before it can be made effective.
No date was announced for further
Additional information will be fur
nished employees as soon as it becomes
Fieldcrest Store Honors
Effective May 8, the Fieldcrest Store
at Spray became one of the many stores,
businesses and service establishments
throughout North Carolina which honor
the North Carolina National Bank
BankAmericard charge plan.
In announcing the plan, William P.
Groseclose, store manager, said there are
no membership fees, no dues, no annual
charges. “It costs nothing to join Bank
Americard, which is simply a credit
card plan honored by a wide variety of
businesses,” he said.
Applications for joining the plan can
be obtained at the Fieldcrest Store.