THE MILL WHISTLE
B/eMerei^
Eden, N. C., January 8. 1973
No. 13
Sales Meetings Held For Rugs, Carpets
Credit Union Dividends Totai $110,695
IV[pmKc.r.c- TTTi^lJ j. n/r-n _ . -1 ‘ /
^embers of the Fieldcrest Mills Cred-
fn received $110,695 in dividends
IQ7 months ended December 31,
“'2, making a total of $891,729 in
Vidends paid since the Credit Union
as organized in 1958.
^ h comparison, the dividends paid for
®ame period a year ago totaled
siv’^^"^' amount paid for the first
^months of 1972 was $100,324.
at + Decemjber 31, 1972, dividend was
me rate of 6% per annum. This rate
^as made effective July 1, 1970, and
sin^ fifth increase in dividend rates
p the establishment of the Credit
^nion.
^ Tile Fieldcrest Mills Credit Union has
^^d a dividend of at least 4% per an-
ga^ six months since it was or-
aized. The first increase was from
4% to 4t4% effective January 1, 1965.
It was raised to 4%% a year later and
this rate remained until January 1,
1968, when it became 5%. The rate
becarne 5%% alter another year and
effective July 1, 1970, was increased to
the present 6%.
In addition to the increasing divi
dend rate, the Credit Union early in
1968 reduced the interest rate charged
on loans from 1% to nine-tenths of 1%
a month on the unpaid balance.
Statements are being distributed to
all Credit Union members showing the
amount of dividends received, the mem.
ber’s share account, the loan balance"
if any, and interest paid. ’
If any member failed to receive his
statement or has any question concern-
(Continued on Page Five)
Karastan
(center), veteran Karastan salesman, got a chance to review
Of Karastan sales meeting with William C. Battle (right) president
^i vision and a senior vice president of Fieldcrest Mills, Inc. During the meeting a
Com f^^rbett who celebrated his 44th year with the
^^Pany in November. Mr. Corbett plans to retire at the end of jLary"
The Karastan sales force was praised
for its outstanding performance in 1972
by William C. Battle, president of Field
crest Mills, Inc., at the semi-annual
sales meeting of the Karastan Mar
keting divison held at the Beach Club
in Naples, Fla., December 12 to 14.
Mr. Battle cited the substantial in
creases in manufacturing facilities for
the Karastan division approved by the
Fieldcrest Board of Directors.
These steps, he said, which are vital
to the future growth of the company,
were made possible by the excellent
Sales volume and contribution to profits
produced through the combined efforts
of the sales staff.
About 80 members of the Karastan
division took part in the sessions which
were also addressed by Walter B. Guin-
an, president of the Karastan Market
ing Division and a senior vice president
of Fieldcrest Mills, Inc.
Mr. Guinan analyzed Karastan’s per
formance for 1972, noting that it rep-
(Continued on Page Five)
Laurelcrest
The continued growth in sales and
profitability for Laurelcrest Carpets
during 1972 was cited as a major achiev
ement by Walter B. Guinan, president
of the Laurelcrest Marketing Division
at its semi-annual sales meeting held
at the Pine Needles Country Club at
Southern Pines.
About 65 members of the division
attended the three-day sessions held
December 9 to 11. Mr. Guinan review
ed the division’s performance in 1972
at a special session held at the Laurel
crest Carpet MiU.
He noted that despite considerable
competition from other members of the
tufted industry, Laurelcrest was able
to continue its growth and increase its
profit contribution to Fieldcrest Mills,
Inc. He also discussed important new
carpet styles being developed as the re
sult of product research and new man
ufacturing equipment.
At the meeting, Mr. Guinan present-
(Continued on Page Five)