m
THE MILL WHISTLE
'J.34
Eden, N. C., February 23,1976
You Know
l^our Benefits?
No. 16
know about your
tiid
mat know, for example,
hto has one of the
“'iP insurance plans in the
.^i'i ynn know that,
skaf^P'.^'iical costs have risen
'"ffes years, no
insert *" premiums has been
Jaiv^ °n to employees since
siv h'' substantial
enefits were added?
Affi
’ftivp aware that every
rp «»voic uiat every
* tiiin^'^'^'^rest employee has
‘'"mum of $10,000 life
H'AVjV/vv; me
nnd that when the em-
loctop, under a
^is . ® eare, the company pays
her life '
insurance
premiums, both individual and
family plans?
Outstanding Features
Fieldcrest’s group insurance
plan has these outstanding fea
tures and many more. Major
Medical was added to the com
pany plan in 1972, at which time
rates were increased slightly.
As of December 31, 1972
$3,743,000 had been paid by the
company in claims for that year.
As of December 31, 1975
$5,012,000 had been paid in
claims for that year. But em
ployees are still paying the same
premiums as in 1972.
Another outstanding feature of
Fieldcrest’s plan is the life
(Continued on Page Three)
,^ales, Earnings Reported
|p.
^hls, Inc. reported
Ipj *’y 17 that earnings and
55,. for the year 1975
all time highs for the
Net earnings for the
ill, Were $9,927,000 ($2.75 per
V^^ompared to $1,403,000
STANLEY KLEIN
^nley Klein
•es At 82
Stanley Klein, Sr
1 -■>
,.0ary 8 at the Cabrini
Institute in New York
ffe was 82 years old and
b, 440 East 57th Street in
*ork.
,: f^lein participated in the
,^>}g of Fieldcrest Mills,
S n the mills were sold by
Field & Company in
b He was a director of
j '^rest for many years and
also president and
Continued on Page Three)
($.39 per share) for 1974
The previous company high
was achieved in 1968 with earn
ings of $9,579,000 ($2.70 per
share). Sales in 1975 were
$303,336,000 compared to
$300,433,000 in 1974.
Earnings for 1975 and 1974
reflect the LIFO method of
accounting for inventory which
was adopted for the Bed and
Bath Fashion Division in the
fourth quarter of 1974 to avoid
overstatement of earnings due to
inflation.
The fourth quarter per
formance of the company was
particularly strong .with net
earnings of $4,828,000 ($1.33 per
share) compared to a loss of
$2,092,000 ($.58 per share) during
the prior year.
The operating results were an
nounced by William C. Battle,
president of Fieldcrest Mills’
Inc.
“The significant earnings
increase was achieved on a
modest sales increase and
reflects in a large part the effect
of policies adopted to cope with
the recession of 1974,” Mr
Battle said.
“Overhead and expense
reductions were significant;
stringent control of inventory
levels and a substantial
reduction in stock keeping units
i. ?., impact on pro
fitability. Management expects
to continue these policies.
Sales and mill activity in the
early part of 1976 reflect a
continued strong level of
demand for our products and
®eryices and lead us to be
optimistic about the prospects
for the year,” Mr. Battle said.
Daghestan Medallion Is one of the striking de
signs from Karastan’s new “Eastern Primitives”
collection of Oriental patterned rugs. All rugs in the
collection feature bold tribal designs from the Cau
casus. This pattern has a dominant gold tone. More
pictures on pages four and five.
New Rug Lines Introduced
A decided Eastern accent —
both “Near and Far East” —
can be detected in Karastan’s
new broadloom and rug fashions
for Spring, 1976.
In announcing Karastan’s
introductions, Robert V. Dale,
vice-president of Styling and
Design, explained that the
strong Far East influence seen
today’s apparel fashions.
m
furniture, fabrics and other
home furnishings motivated his
design staff to reproduce this
feeling in a carpet.
tal design rugs called Eastern
Primitives.
“This group of woven wool
rugs is devoted wholly to the
bold, striking and primitive
‘tribal designs’ created by the
nomadic peoples of the
Caucasus,” Dale reported.
“These rugs have been woven
for centuries by the women of
these tribes. As contrasted with
the intricate and detailed
ornamentation of the classic
Persian styles, Caucasian rugs
feature vivid geometries and
stylized motifs of flowers, birds,
dogs, scorpions, tarantulas and
other objects of nature these
people encounter in their daily
lives,” Dale explained.
He pointed out the similarity
of some of these primitive motifs
to'those found in blankets and
other textiles of the American
Indians, noting that this use of
stylized representations of
objects found in nature is not
(Continued on Page Four)
“The Far Eastern look ap
pears in a new luxury broadloom
we call Sheng Lai, which in
Chinese translates into ‘Future
Life’,” Dale related. “It features
a subtle tone-on-tone Chinese
fretwork pattern in a thick pile
of Antron nylon. In the Chinese
manner, the design is purposely
understated, though it is
definitely visible, in the
shimmering highlights of this
elegant plush style.”
Store Discount To Become 35%
Very obvious, however, is the
Near Eastern influence in an
exciting new collection of Orien-
All active and retired
Fieldcrest employees will be
entitled to a 35 percent discount
on first quality merchandise and
15 percent on Thrift Shop
merchandise in the Fieldcrest
Stores, effective March 1.
This new discount policy for
employees and retirees replaces
the previous 25 percent discount
on first quality and no discount
on Thrift Shop Merchandise.
The discounts apply to em
ployees and retirees only.
The Fieldcrest Stores at Eden
and at Columbus, Ga., are retail
stores open to the general public
as well as Fieldcrest employees.
The stores carry a representa
tive stock of the company’s
products except Karastan and
Laurelcrest carpets and rugs.
First quality in-line products
are for sale in the Fieldcrest
Shop. In addition, the Thrift
Shop offers dropped items,
seconds, experimentals, etc. at
attractive prices.
'Si