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Published by gellci!e^;i^M^'“ “ Sprsy, Draper cmd Uaksvill^^^t^ fieldq'.ft
VOL. XVI
Spray, N. C., Monday, June 9, 1958
NUMBER 24
Karastan To Introduce New Rug Fabric
Employees who retired June 1 are shown in front of new General Offices. This was
one of the largest groups to retire at one time since.the Pension Plan was started.
742 Have Retired With Pension
Ceremonies Honor 29
Entering Retirement
Ranks June 1
Twenty-nine employees with service
records ranging to 51 years retired un
der the Fieldcrest Pension Plan effective
June 1. It was one of the largest groups
to retire at one time since the Company
started the plan in 1943. Included were
retirees from all of the mills except the
Automatic Blanket Mill and the Central
Warehouse.
The addition of these 29 makes a total
of 742 employees who have retired with
a monthly pension for life since the
Pension Plan was instituted at Field
crest. Of this number, 566 are now liv
ing and drawing pensions paid for by
the Company.
The retiring employees were honored
in ceremonies in the conference room at
the new General Offices Friday morn
ing, May 30. During the program, their
first monthly pension checks and their
vacation pay checks were presented.
Clinton J. Frank, director of industrial
relations, presided and congratulated the
employees upon their attainment of re
tirement age when they can enjoy great
er leisure with their financial future
secured to an appreciable extent by their
Fieldcrest pension.
“Most Generous In The Industry”
Mr. Frank presented President Har
old W. Whitcomb who reviewed the his
tory of the Fieldcrest pension plan which
which he described as “the most gener
ous in the industry.” He praised the
loyalty and skill of the long-service
employees and expressed the Company’s
pleasure in being able to help arrange
for the financial well-being of employees
in their later years.
Mr. Whitcomb pointed out that the
Pension Trust is now worth approxi
mately $8 Vz-million. This money is held
in trust by the Wachovia Bank and
Trust Company of Winston-Salem, as
(Continued on page three)
Ultimo Construction Is
Among New Items To
Be Shown At Market
In its 30th anniversary year, Kara
stan will introduce at the June home
furnishings market in Chicago a new
fabric which parallels in many ways the
mill’s original achievement when it in
stituted power-loomed Oriental designs
in 1928.
The new fabric is made on recently-
perfected looms designed to approxi
mate the textured appearance of fine
hand-woven carpeting. Like those on
which Karastan’s Oriental design rugs
are woven, the looms were several years
in development .
The fabric, called Ultimo, is a deep-
piled random cut-and-loop construction
which gives great depth and quality to
its rich colorings. Broadloom and the
matching Ultimo Collection of area and
room-size rugs are woven of fine wool.
The rugs are hand-carved in a new
technique which permits a rare delicacy
of design or an intensified shaded effect.
Among other new Karastan offerings
is a dramatic, power-loomed Princess
Bokhara design rug, original of which
is an almost priceless antique. There
is also a new textured broadloom called
Flourish, and new colors in most of the
mill’s current lines, as well as three new
rugs in the cotton Accent and Happiness
(Continued on page four)
Sales Meeting
Karastan’s selling program for the fall
and winter will be set up at our semi
annual rug sales meeting to be held
at the Karastan Rug Mill Thursday and
Friday, June 12 and 13.
During their two days of planning
and discussion, the sales group will view
the new fabrics that have been develop
ed and go over the new lines.
The meeting precedes the Chicago
Furniture Market which opens Monday,
June 16. Our new rugs will be intro
duced at this international home fur
nishings market which attracts upward
of 40,000 exhibitors and buyers.
Representatives of the Karastan orga
nization will attend the market opening.