m
THE MILL WHISTLE
Vol. 35
Eden, N.C., February 21, 1977
No. 15
l^ecords
Are Set
In 76
Mills, Inc. reported
15 that 1976 sales and
constituted all-time highs
second consecutive year.
Jl2 .Linings for the year rose to
($3.39 per primary share),
59g^''ccnt increase over the level of
($2.75 per primary share),
1 ■ 1976 of $345,025,000
On Percent over the 1975 level of
^p6,000.
quarter performance of
9rg^p*i*Pany was strong and marked
of the comparatively weak
ess trend noted in the third
P'ourth quarter net earnings
sharpr^’961,000 ($1.34 per primary
Pef ^^compared to $4,828,000 ($1.33
iiiCfp ^ary share) in 1975. Sales
^^®ed to $103,058,000 from
Thein the prior year.
^on ®P®rating results were
by William C. Battle,
Of and chief executive officer
‘(^^.^‘'Icrest.
Offe^'^^^crest’s 1976 earnings were
M j^jeq by the decision of the Board
He's Outstanding
Luther G. Meadows hasn’t missed a day’s work in 11
years. A fireman in the Draper Boiler Room, he has
worked for Fieldcrest since 1936, and has one of the most
outstanding attendance records in the company.
“When I don’t feel good, I come on to work anyway and
usually feel better. I think you feel worse if you stay
around home in bed,” he said.
fUetlj^^'^iors to extend the LIFO
accounting for inventory to
and Rug Divsion. This
For Everybody
uivsion. ims ml««f
S^g'jj^^hinent^^of ^ adSSonal ^ LIFG Energy Conservation Now A Must
and a corresponding
'lanin earnings of $764,000 ($.21
. ^Continued To Page Two)
Notice
Vae° employees may make
tK^iion plans, reservations at
Sy beach, etc., the mills’
t^.'^'^er vacation has been
(qIj ®iively scheduled as
mills will cease
atjj^^iions Friday night, July 1,
iQ *‘esume Sunday night, July
ej^iie the above schedule is
SQ^^ied to hold true generally,
individuals or
(j(j^.®*'inients may need to work
Jj'g the vacation period,
kg employees affected will
aotified by their mill
SgL^'^gement and will be able to
time off on some later
The shortage of natural gas
experienced during the past weeks
has affected industrial users
throughout the southeast and in many
areas has caused the closing not only
of mills and plants but also of schools,
churches and small business.
Fieldcrest operations which are run
by natural gas and at this time do not
have alternate fuel capacity are
mainly in four areas: the carpet
backing process at the Laurelcrest
Carpet Plant, some of the equipment
at the North Carolina Finishing
Company division, certain finishing
processes for bedspreads at Eden,
and dryers at Foremost Screen Print
Plant.
All of these areas are now operating
on propane which is converted to
natural gas, and operations have been
interrupted only temporarily and for
short periods.
In die General Offices at Eden
where natural gas was used for
heating, conversion to fuel oil has
been accomplished.
“This shortage of natural gas has
shown us in a very real way that we
must continue and even increase our
energy conservation procedures
throughout the company,” said R. A.
Harden, director of engineering for
Fieldcrest.
“We have instituted stringent
measures company-wide, but we will
have to conserve even further both
now and in the future because the
shortage isn’t going to go away
Predictions are that other sources of
energy are going to be short, too, so
we will have to make what supplies
we do have last as long as possible,”
he said.
“Everybody is going to have to
make energy conservation a way of
life. And that includes individuals,
industries, business—everybody.
There is no choice in this, it’s simply a
fact.”
Conservation measures already in
(Continued To Page Two)
Tax Changes Will Affect You
Major changes resulting from the
Tax Reform Act of 1976 will affect just
about everyone filing a tax return this
year.
While the changes will be good news
for many people, they will require
extra care in the preparation of the
1976 tax returns.
The Internal Revenue Service
maintains toll-free telephone systems
in all states for people who need
information or assistance with their
tax returns. For most North Carolina
Fieldcrest employees, the number to
call is 1-800-822-8800.
Employees who need assistance
may either call the toll-free number
or visit the nearest IRS office. Anyone
visiting an IRS office for assistance
should take their tax package
received in the mail and all pertinent
(Continued on Page Three)
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