Eden, N. C., January 20, 1969
NO. 13
$6-Million Expansion Is Announced
cr^ William Moore, president of Field-
Nills, Inc., has announced a
T '®^Oion expansion program at the
jj '^^elcrest Carpet Plant in Laurel Hill,
additions v/ill consist of a parallel
^ semi--worsted spinning plant and a
op^®*^ouse service center for the tufted
g and will be constructed just
’■ of the existing carpet plant in
plant expansion will
.^^olidate in this area all operations
related to the present tufting plant.
The yarn mill construction will in
volve approximately 114,000 square feet
and the service center approximately
163,000 square feet.
Grading is under way on both sites.
Construction on the yarn mill is sched
uled for completion by August 1, 1969,
and the service center building is ex
pected to be completed by September
1, 1969.
This expansion will eventually in
Industry Made Advances During 1968
The
^dvai
nation’s textile industry made
Teat
*ices in sales, profits and employ-
in 1968 although a record level of
slowed full recovery from the
of 1967, the American Textile
"Ian
Tufacturers Institute reported.
the basic textile industry’s annual
lew and forecast, Harold W. Whit-
chairman of the board, Fieldcrest
president of ATMI, re-
these highlights of 1968:
•y expected to be approximate-
'billion, an increase of 10 per cent
1967 and a new record.
Of ^Pleyment averaged 984,000, a gain
fin over 1967. Of this, about
are Negroes. This was an in
profits “will remain under pressure.”
“The outlook for 1969 is somewhat
clouded by the question of what the
government will do to establish reason
able import controls, uncertainty about
consumer spending, the possibility of
continuing the surtax on income and
policies designed to control inflation,”
Mr. Whitcomb said.
“The textile industry in 1968 showed
increased activity over 1967 with a rise
of 4.5 per cent in the industrial produc-
(Continued on Page Eight)
crease Laurelcrest’s total employment in
the area by several hundred. Most of
the new employees will be employed in
the spinning plant. The spinning plant
will produce approximately 180,000
pounds of synthetic carpet yarn per
week when in full production.
General contractor for the construc
tion of the yarn mili is Fiske Carter
Construction Company, Spartanburg, S.
C., with other contracts awarded to a
variety of companies. Contracts have
not been let as yet for the service center.
Fieldcrest purchased the former Mor
gan Carpet Mills January 3, 1967. Since
that time production of tufted carpet
has materially increased within the
iimitations of the existing facility.
The additional plant facilities at
Laurel Hill represent a continuation of
the impressive growth of Fieldcrest
since it was founded in 1953. Fieldcrest
has increased its annual volume from
approximately $39 million in 1953 to
over $200 million for 1968. The com
pany is an important factor in the home
furnishings industry and is considered
a style and quality leader in the entire
industry.
Planning Committee Formed For New YMCA
of more than 10,000 from 1967.
cjj ®Pital investment continued to de-
® from its high point of $1.1-billion
as new plant and equipment
t(ijj®'^ditures are estimated at $820-
Ave
in December of 1967.
to hourly earnings are expected
>2.
f
T
the level of 1966 and the average
V V. ^v w v.*
$2 j ® $2.28 at year’s end, compared with
t)„,®_^^Sbtly higher than in 1967 but still
bp industry-wide are expected to
tile nianufacturing industries. Tex-
3 ®3rnings on sales are estimated at
‘Per
Cent and earnings on stockholders’
are running at a rate of 8.1 per
earnings on sales are 3.4 per
0^ ‘ higher than last year and earnings
lgg®quity, 6.6 per cent better than in
Ifft'
Ports are estimated at $1,646,000
leg^P^red with exports of $654,000,000
Of a textile products trade deficit
*j^992,000,000.
tSfiQ ' Whitcomb predicted that sales in
''’ill be greater than 1968 but that
A Planning Committee for the new
Central YMCA building has been an
nounced by G. W. Moore, honorary gen
eral chairman and president of Field
crest, and W. D. Lashley, Jr., general
chairman.
Jesse M. Burton will serve as chair
man, along with Douglas Craddock, Mrs.
Welsford Bishopric, Mrs. N. H. McCol
lum, Jr., H. E. Williams, Robert Broad
nax and Paul L. Peterson.
The work of this committee, as an
nounced by Harold Matthews, Jr., Exec
utive Committee president, will be to
review plans, visit other new and re
cently constructed buildings, and then
evaluate the basic and real needs of this
community. Recommendations will then
be made to the Executive Committee for
final approval before a building com
mittee is appointed.
In a joint meeting, held recently, of
the Executive and Planning Commit
tees, progress to date was reviewed. The
final deed to the property has been re
ceived from F. C. Dumaine, Jr., of Bos
ton, a director of Fieldcrest Mills, Inc.,
who donated the land for the new
building. The deed has been recorded in
the. Register of Deeds office at Went
worth.
W. B. Lucas and Tom W. Graves, Jr.,
of the Fieldcrest Legal Department, had
earlier assisted Central YMCA in being
chartered as a non-profit corporation in
the State of North Carolina by the Sec
retary of State Thad Eure. These Arti
cles of Incorporation authorize the
corporation to accept donations, bequests
and devises, as well as to purchase,
lease or otherwise acquire and operate
properties.
Members of the Site Committee
are continuing their work. Douglas
Craddock is chairman. Others on this
committee are: Broadus Vernon, Jim
Robertson, Mrs. Guy Buckle, W. D.
Lashley, Jr., Jesse M. Burton and Paul
L. Peterson.
Manley Joyce of the Leaksville Bank
and Trust Company is treasurer of the
Central YMCA New Building B\md.