MILL WHISTLE
Council meeting—Picture above was taken January 17 at Central YJM.C.A.
13 joint meeting of the Carolina Cooperative Council and the Junior Carolina
'^iicil. The program featured talks on business conditions by Harold W. Whit-
assistant general manager, and E. W. Medbery, production manager. Com-
membership of the two councils is approximately 600. The Junior Council
see a talent show by local young people February 12. The program for the
*^or council on February 21 has not yet been announced.
Million In Pension Trust Fund
ninth annual contribution, total-
g* $2,000,000, to the Marshall Field &■
^ Jjjpany Pension Plan Trust Fund was
‘‘‘'orized recently by the board of
'Actors.
Jhis brings the total company con-
•>Ution $20,610,000. With this latest
*'tfibution, to be paid to the First
’tional Bank of Chicago, trustee of
® Fund, the market value of the
fl'd, including certain income accumu-
If^ons, will-approximate $23,000,000.
total of 1,385 employees have re-
under the Pension Plan since its
I'^Ption on December 1, 1943, and
f'? retired employees are currently
tl’®iving benefits. Approximately $1,-
i lOoo has been paid to these retired
tlSloyees frorn the Fund to date.
Board also authorized the ninth
I'Ual premium payment to Bankers
I,® Company of Des Moines, Iowa, the
A^erwriter of the Company’s Annuity
The Company’s share of this
;*'iium for the year ending Nov. 30,
is approximately $654,000, which
JJgs the Company’s total contribution
*^6 the inception of the Annuity Plan
to $5,612,000, as against total employee
contributions of $1,050,000.
Nearly 3,1000 active employees are
currently participating in the Annuity
Plan and 243 have retired to date with
benefits paid by the Plan.
Contributions made by the Company
to either the Pension Plan or Annuity
Plan are irrevocable, and are made for
the sole benefit of the employees eli
gible to participate.
★
Help On Preparing
Income Tax Returns
If you want help on preparing your
income tax returns, hand in to your
foreman, the slip you received with
your pay check.
Those requesting help will receive a
letter giving the time of their appoint
ment at the mill Personnel Office where
free tax service will be available to all
employees beginning about February 11.
If you failed to turn in a slip, you
can make an appointment by telephon
ing your Personnel Office.
Mutual Aid Report
Shows Association
In Sound Position
The financial statement for the United
Mutual Aid association for the year
1951 shows that the association paid out
$80,392.80 for the benefit of members
and their dependents. Dues collected
totaled $81,724.98. Interest received
from invested funds amounted to $401.-
25 making the total income $82,126.23.
The financial statement appears on page
7.
The balance on hand January 1, 1951,
was $24,829.54 representing the reserve
that has been built up over a period of
years. The reserve at the close of 1951
was $26,562.97 representing a sUght in
crease over the previous year. The As
sociation covers about 4,000 employees
in the North Carolina MiUs. These
members, with their dependents eligible
for benefits, total approximately 10,000
persons. This means that the present re-
(Continued on page five)
'k
Organization Changes
Announced By Chairman
—★—
Chairman Hughston M. McBain has
announced that at the December meet
ing of the board of directors, Gerald A.
Sivage was elected treasurer of the
Company, Earl Kribben was elected as
sistant to the President, and George C.
Kinder was appointed assistant comp
troller. These actions by the directors
became effective January 1.
Chairman McBain stated that Mr.
Kribben will continue to be responsible
for the administration of the corpora
tion’s Retirement Program, including
the investment aspects thereof. He also
will continue to supervise all property
tax matters.
Among his new duties, the chairman
said, will be the responsibility for leg
islative matters affecting the Company
and representation of the Company’s
interest in such important civic prob
lems as transportation, parking and
housing.
Leland C. Carstens who for some time
as been manager of Sections 70-400,
407-Phonograph Records, Pianos, Or
gans, Radios, Phonographs, Television—
is now assistant to Mr. McBain. His
appointment was announced by the
chairman January 7.