[ieldcrest Ranks 399
U. S. Corporations
Mills, Inc. ranks 399 among
^*^ration 500 largest industrial cor-
latest directory,
the moved up 87 places since
list in°iQ^^”^ “t°'P 5t)0”
383 The ranking compares with
Com^ i® based on the
Pany’s, 1967 sales of $175,270,000.
»est other than sales, Field-
pgj, 82 with its 12.13% earnings
net • growth rate 1957-67; 292 on
tap of 10.5% on invested capi-
Oh’in ^ O'! income of 4.0% on sales; 415
on "'"ested capital of $66,254,000; 405
On = income of $6,938,000; and 412
assets of $118,853,000.
is the 295th largest com-
A^’ on its 10,935 employees,
top the tpvtil(> firms listed in the
“'iO were Burlington Industries, 55,
^ ^ from 44 a year ago; J. P. Stevens
Hlj], 109, down from 100; Cannon
30o “^own from 269; Cone Mills,
30r’ from 273; Dan River Mills,
32o’ from 277; and Spring Mills,
Credit Union Pays
Dividends totaling $43,988 have been
paid to members of the Fieldcrest Mills
Credit Union for the six months end
ing June 30. This makes a total of
$313,744 that members have received
in dividends since the Credit Union was
formed in 1958.
The latest dividend was at the rate of
5% per annum, reflecting an increased
rate made effective January 1, 1968.
The Credit Union has paid a dividend
of at least 4% per annum each six
months since it was organized. The rate
was increased from 4 to 41/4% effective
January 1, 1965, and was raised to 41/2%
a year later. It continued at that rate
until the latest increase.
Statements have been distributed to
Credit Union members showing the
amount of dividend received, the mem
ber’s share account, the loan balance
and interest paid. If any member failed
to receive his statement, or has any
question concerning his account, he
should notify the Credit Union Office
The purpose of the Credit Union is; to
encourage systematic savings; to make
low-cost loans to members; and to help
its members handle their finances in a
more adequate manner.
More than 8,100 Fieldcrest employees
in almost all locations have joined the
Credit Union, representing a high per
centage of those eligible to join. These
members enjoy the advantages of regu
lar saving and hundreds of members
have borrowed from the Credit Union,
which has made close to 50,000 loans’
totaling over $9-million. ’
In order to make Credit Union trans
actions as convenient as possible, the
Company cooperates by permitting both
savings and loan repayments to be
handled through payroll deductions. An
employee may join by paying a 25c fee
dliu d card auUioiizing Uie Cum-
pany to deduct a specific amount of sav
ings from each paycheck.
down from 303.
Company Participates In Manpower Survey
fjew Plan Set For Sales
^ Rugs To Employees
handling of sales of carpet and
tijp employees has been moved to
Karastan Service Center in Eden,
hat arrangement, a desig-
person will be at the Service
ffoj/®*" e™ Tuesdays and Thursdays,
1 p.m. until 5 p.m., to receive
orn **hny employees and accept their
hers.
expected that better service can
*’®Pdered employees under the new
bia** formerly when employees
their orders at the mill or the
Control Department on a
**dom basis.
Merger Plans Dropped
W. Moore, president of Fieldcrest
dent ’ Tiumaine, Jr., presi-
of Amoskeag Company, a Boston-
j^^ed closed-end investment trust, joint-
iie Announced that previously reported
]f^°tiations for the acquisition of Amos-
by Fieldcrest had been terminated,
^^uch as the negotiating committees
Co 1 unable to develop a plan which
^hld be approved as desirable for the
h*'eholders of both companies.
A survey of the feasibility of training
unemployed and marginally employed
individuals in Eden and Rockingham
County began Thursday, July 18.
The survey is being done for Field
crest Mills, Inc., by the North Carolina
Manpower Development Corporation
with the cooperation of the local office
of the State Employment Security Com
mission.
The survey will have two main pur
poses. First, it will provide a good idea
of the number of people seeking em
ployment in Eden and surrounding
areas. And second, it will indicate the
pre-job training which would be neces
sary to assist these individuals in se
curing satisfactory employment.
Interviewers for MDC will attempt
to locate and interview as many unem
ployed or marginally employed individ
uals in the area as possible during a
two-week period.
MDC is a nonprofit private corpora
tion organized to experiment with new
means of alleviating problems of unem
ployment and underemployment in the
state. A prevocational training center
operated by MDC in Greensboro has
been highly successful in employing in
dividuals previously thought to be un
employable. MDC’s board chairman is
Luther H. Hodges, Jr., senior vice presi
dent of the North Carolina National
Bank.
Haven H. Newton, division vice presi
dent for industrial relations at Field
crest Mills, in a letter to public officials
in Eden and Rockingham County asked
for their cooperation. “We view the
project as a first step in a process that
could prove to be of great value not only
to Fieldcrest, but to Rockingham Coun
ty as well,” he said.
Sales At Stores
The annual August White Sale at the
Fieldcrest Stores in Eden and Colum
bus, Ga., opened July 15 and will con
tinue through August 31.
A broad assortment of merchandise
is available in the sto-rewide sales. Fea
tured are the very popular “Lazy Daisy”
one-look ensembles and the new “Pow
Flowers” one-look.
The Thrift Shop offers excellent
values in irregulars, discontinued styles,
samples, etc.
The employee discount (25%) ap
plies to sale prices in the Fieldcrest
Shop. The store hours are 9 a.m. until
5 p.m. at the Eden Store, and from 9:30
a.m. until 5:30 p.m. at the Columbus
Store, Monday through Saturday.