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Spray, R C„ July 13, 1964 NO. 1
Fieldcrest Takes Over New Properties
^tties H. Riddle Is Named President Of North Carolina Finishing
~®*npany Division And Ralph C. Going Is Appointed General
**Perintendent Of Fieldcrest’s Greige Sheeting Mills
I^^eldcrest Mills, Inc. on Monday, June 29, took possession of proper-
purchased from the Erlanger Mills Corporation. Included were
plants and inventories of the North Carolina Finishing Company
^“Salisbury; Alexander Mills, Forest City; the Leward Mill, Worth-
and Carnac, a cloth converting operation based in New York.
l-ux, Patterson Given
Awards For 50 Years
Alfred F. Lux of the Fieldcrest Sales
^vision and James Thomas (Tommy)
atterson of the Finishing Mill have re-
g®'Ved awards in recognition of their
^-year records of continuous service
the company.
^r. Lux completed 50 years on June
’ and Mr. Patterson attained a half-
®ntury of continuous service on July 1.
On each occasion the 50-year em-
^oyee was honored in an informal cere-
at the General Offices in Spray.
^®sident Harold W. Whitcomb pre-
®nted each with the Fieldcrest dia-
p '^f'd-and-gold 50-year pin, a letter of
°mrnendation, and other gifts and re-
^®tnbrances.
Mr. Whitcomb congratulated the vet-
employees for their steadfast and
yal service for 50 years and expressed
Ppreciation for the contributions they
ad made to the success of the company,
p He commented on the fact that Mr.
Patterson’s brother, the late J. Will
atterson, was the first production em-
(Continued on Page Three)
fieldcrest Moves Up
.„^>®ldcrest Mills, Inc., moved up from
6th to 412th in Fortune magazine’s
directory of the 500 largest U. S.
“Ustrial corporations based on 1963
Among the textile firms listed in the
® 500 were Burlington Industries,
anked 48th, same as last year; J. P.
*®vens, & Co., 90th, down from 84th;
annon Mills, 221st, up from 229th;
Ofte Mills, 250th, down from 237th;
Cotton Mills, 273rd, down from
, ^th; Dan River Mills, 308th, down
279th.
Harold W. Whitcomb, president of
Fieldcrest Mills, Inc., announced the fol
lowing organizational set-up of the vari
ous units:
The North Carolina Finishing Com
pany will be operated under its former
name as a division of Fieldcrest Mills,
Inc. James H. Riddle was named presi
dent of the division, and will report to
Mr. Whitcomb. Other divisional officers
are Robert E. Barnwell, Jr., vice presi-
dent-sales; and Edward T. Taylor, con
troller.
Employs 1,030 People
The finishing mill has 500,000 square
feet of floor space and complete finish
ing equipment for nearly all kinds of
piece goods at the rate of 3,000,000 yards
weekly. The plant employs 1,030 people.
The Alexander and the Leward mills,
both of which manufacture wide greige
sheeting, will be operated as units of
Fieldcrest Mills, Inc. M. G. Allen, super
intendent of the Alexander Mill, and
Edward Fowler, superintendent of the
Leward Mill, will report to Ralph C.
Credit Union Assets
The Fieldcrest Mills Credit Union is
now a million-dollar organization.
Showing rapid growth since its forma
tion in 1958, total assets of the Credit
Union as of June 30, were $1,036,886.
Membership in the Credit Union was
5,086, making it the largest of any credit
union affiliated with the North Carolina
Credit Union League.
Dividends paid to members for the
first six months of 1964 totaled $14,652,
a substantial increase over the $10,542
paid for the same period in 1963. The
increase in dividends reflects the
growth in membership in the past year
as well as the greater savings in the
share accounts.
Statements covering dividends for the
first six months of 1964 were distributed
JAMES H. RIDDLE
. . . Heads New Division . . .
Going, Spray, who, effective July 1, was
appointed general superintendent of
Fieldcrest’s greige sheeting mills.
Greige goods from the Alexander and
Leward mills will be finished at the
North Carolina Finishing Company as
formerly. Both plants manufacture 128
carded muslin sheets which have been
(Continued on Page Four)
Exceed One Million
to all members during last week. The
statements show the member’s share
account, loan balance, interest paid, and
the amount of dividend received.
If any member failed to receive his
statement, or if there is any question
concerning his account, the member
should notify the Credit Union office.
The Credit Union has paid a 4% per
annum dividend on savings each six
months since it was organized. Divi
dends are figured on the members’ aver
age monthly balances and credited to
their share accounts.
In order to make Credit Union trans
actions as convenient as possible, the
company cooperates by permitting both
savings and loan repayments to be
(Continued on Page Eight)