THE MILL WHISTLE
^ol. 33
Eden, N. C., February 3, 1975
No. 23
William C. Battle, left, president of Fieldcrest Mills, Inc., and David M. Tracy, right,
(resident of the Fieldcrest Marketing Division, present James E. Larkin with a person-
ilized award for significant sales performance and achievement.
Larkin Receives Citation For
Outstanding Sales Achievement
James E. Larkin, St. Marys
specialty sales manager, was
presented with a special citation
for outstanding sales
achievement by William C.
Battle, president of Fieldcrest
Mills, Inc., and David M. Tracy,
president of the Fieldcrest
Marketing Division, at the
recent Northeastern Regional
Sales Meeting.
The award honors Mr. Larkin
as the first salesman in the
history of Fieldcrest to have sold
Unemployment
Compensation
Since many employees
have received unem
ployment benefits in 1974
during periods when the
mills were down or on short
time, questions have been
asked whether or not these
payments are subject to
income tax.
According to L. E.
Chewning, manager of
general accounting and
taxes for Fieldcrest, unem-
(Continued on Page Eight)
a one million dollar towel order
to one account, K-Mart, a chain
of 600 stores. He promoted and
sold a special towel selection
designed for the K-Mart
operation and made by St.
Marys, a solid and a stripe in
four colors, which totalled
100,000 dozen each of bath and
wash towels.
In a letter which was read at
the presentation, Mr. Battle
said, “Your recent accomplish
ments with K-Mart are so
important to the success of the
company and so striking an
example of individual excellence
that we wish to take special note
of your contributions.”
In March Mr. Larkin will
celebrate his 10th anniversary
with the company. He started
with Fieldcrest in the sales
department in 1965 and had sales
territories in the Northeastern
Region until 1970 when he was
appointed sales promotion
manager. For the past three
years he has been responsible
for all national discount chain
store sales around the country
for the St. Marys division.
Deadline For Scholarship
Applications Is March 1
March 1 is the deadline for
submitting an application for a
Fieldcrest or Muscogee Scho
larship. Awards of the scho
larships are to be announced in
April.
In recent years the deadline
has been advanced and the
application blanks made
available earlier in order to help
students with their planning.
The applications being
accepted now are only for scho
larships leading to an under
graduate degree at a 4-year
college or university. The
scholarships are worth $4,800
each over the four years of
college attendance.
Those who wish to apply for a
(Continued on Page Two)
Credit Union Services Are
More Valuable Than Ever
"More than ever before, the
Credit Union in 1974 rendered
valuable service to its members.
It did this by providing low-cost
loans in emergency situations as
well as offering a place where
savings can grow and yet be
readily available when needed.”
These comments were made
by L. E. Chewning, president of
the Fieldcrest Mills Credit
Union, in reviewing the financial
statement at the annual meeting
of the Credit Union Friday after
noon, January 24, in the
conference room at the General
Offices, Eden.
Mr. Chewning reported that
the Credit Union in 1974 made
10,675 loans, amounting to over
$3 million. He said that since its
organization in 1958 the Credit
Union has processed ap
proximately 123,000 loans for a
total of $25>2 million.
During 1974, total assets in the
Credit Union increased by
$437,673 and amounted to over $6
million at the close of the year.
Membership increased slightly
and exceeds 9,100, representing
77 percent of those eligible to
join.
The Credit Union in 1974 paid
dividends totaling $322,387
compared with $249,961 in the
preceding year. The 1974
payments made a total of
$1,564,403 the Credit Union has
paid in dividends since its
organization.
The current dividend rate is 7
percent per annum, having
steadily advanced over the
years.
In addition to steadily raising
the dividend rate, the Credit
Union early in 1968 reduced the
interest rate charged on loans
from 1 percent to nine-tenths of 1
(Continued on Page Eight)
Satisfied CU Customer
Looking over a Credit Union poster are Ray ,S. Rey
nolds (left) who has saved in the Credit Union since it was
organized in July, 1958, and C. F. Burton, Jr., manager
of the Credit Union.
“I’m all for the Credit Union,” Mr. Reynolds said. “It
has helped me a lot and I know it has helped other people.
I would not hesitate to recommend that other employees
join it and use it.”