R BOEBINGER
> STANDARD PRINTING CO.
, JST ST. at JEFFERSON
P'^^SVILLE 2,KY.
: ^LUme
u S.POSI.f&t
y.E TCR
156^i74
MII.U WHISTLE
Spray, N. C., Monday, September 28, 1953
, Number 5
Sale Becomes Effective Oct. 1
Corporation, Fieldcrest Mills, Inc., Will
Present Program; Emplojmient
Mi Pensions and Benefits Remain Same;
^mford and Whitcomb Head New Enterprise
McBain, chairman of
^^3nlev * Company, and E.
Co, of M P- Maguire and
York, have announced that
*tig rijMills, the textile manufactur-
'^*'aseri °f Fields, have been pur-
^0rpQj, 3*1 undisclosed sum by a new
Miiij known as Fieldcrest
sponsors of the new cor-
Vorij John p. Maguire of New
% Klein, as well as other East-
‘’ancial interests.
corporation will operate the
in Leaksville, Spray and
Fieldale, Va., Klein said,
taij Pl^ns call for the new owners
i Wes Q®, operations of the proper-
1.- The new company will
Dor .''without change the distribu-
*»g py quality standards and sell-
Fieldcrest with the pres^
’?6a
■y executives in charge of the
The*'^’® operations.
owners gain possession of
continue the Fieldcrest brand
various mill product
^?®°ciated with it, McBain and
'^>1 -^11 the mills will operate
''’ill present basis and the company
vjjeies same employment
f-, including pension plans and
benefits that existed under Field’s own
ership.
Milton C. Mumford, general manager
of the mills for Fields, will be president
of the new corporation and Harold W.
Whitcomb, presently in charge of the
mills, will be vice president of the new
corporation, in charge of mill oper
ations. James C. Walsh, associated with
the Fieldcrest operation for several
years, will be secretary and treasurer
of the new company.
G. Lawson Ivie, general sales mana
ger, and all other executives of the
domestics and Karastan sales organiza
tions continue in their present positions.
E. W. Medbery will continue as pro
duction manager and all other mill and
staff executives will continue in their
respective capacities.
Mumford said the new Fieldcrest
Mills corporation will honor all orders
for goods now on the books and “will
seek to serve the same customers as in
the past. The mill will continue to pro
duce the same quality lines of sheets,
blankets, towels, bedspreads, Karastan
rugs and carpets, sold direct to leading
retailers and distributors, as well as
Fieldcrest La France hosiery and syn
thetic greige goods sold through selling
agents.”
MILTON C. MUMFORD
. . . President
Fieldcrest Mills, Inc.
^^tements Given By New Officers
it),. *'
'**'v Mumford, president of the
*’®®ration, Fieldcrest Mills, Inc.
■
W,
of*u following: in regrard to the
‘*ie miiio.
‘*6 mills.
^^all jjjigg Marshall Field & Com-
;*^>2ens i^ Chicago executives as
these communities. Their
•o Q, the worthwhile goals and
^^i® area as well as their
leadership have been out-
1 S and important to all of us.
owners have the
(n '^^nimunity destiny equally
''“Ontinued on page two)
Harold W. WTiitcomb who will be vice
president of Fieldcrest Mills, Inc., issued
the following- statement concerning the
change in ownership:
While I naturally regret ending my
long association with Marshall Field
& Company, I understand and con
cur in the reasons behind their de
cision to sell the mills and to concen
trate their efforts in the retail field.
This decision having been made, 1 am
delighted that the sale of the Field
crest Mills division has been made to
(Continued on page two)
HAROLD W. WHITCOMB
... Vice President
In Charge of Operations