THE MILL WHISTLE
Vol. 33
Eden, N. C., October 21, 1974
No. 17
interview With The Mill Whistle
Battle Discusses
Business Conditions
The Mill Whistle asked President William C. Battle to
comment on current business conditions as they affect
Fieldcrest Mills, Inc. The following is the text of the inter
view conducted in his office Friday afternoon, October 11.
Q. Mr. Battle, could you make a general state
ment on the national economic situation?
A. Well, I would be reluctant to comment on the
overall national economic situation. However, insofar
as it affects our company, as well as most other
textile companies, there has been a noticeable slow
down in the economy. I think that basically the economy
is reflecting a lack of confidence resulting from
Watergate, the Stock Market slump, high interest
costs and inflation in general.
From our point of view, products are exceptionally
well styled and are well placed with good, top quality
retailers. From reports received, they seem to be
moving quite well at the retail level.
However, in view of the high cost of carrying in
ventory, retailers are not keeping inventories as well
stocked as before. They are expecting closer delivery
dates and ordering in smaller quantities. We just can
not continue to operate with our inventory building up
when the orders don’t justify production. That is the
reason we have to slow down from time to time.
Q. Are high interest rates a factor?
a. Yes, the high interest rates plus other re
lated expenses such as warehousing, taxes, etc.,
build up to a sizable figure. Retailers cannot afford
to carry larger inventories and certainly Fieldcrest
must not let them build to levels higher than required
by orders. To do so would jeopardize the long-term
outlook for Fieldcrest, its stockholders, and, even
more important, the jobs of our 12,000 loyal and well-
trained employees.
What we have to do is to make those decisions which
are best in the long run for the company, which really
means for the best interests of its employees, stock
holders, and the buying public. These decisions involve
(Continued on Page Two)
25-Year Club Meetings Set
Two separate 25-Year-Club
meetings are scheduled for
Saturday, October 26, as the
company continues with get-
togethers for the various units
hMoring employees with 25 or
mhre years of continuous
service.
The 25-Year-Club members in
the Sheeting Operation, the
General Offices and the North
Carolina Specials Department
will have a luncheon meeting at
11 a.m. in the Draper
Elementary School cafeteria.
Members at the Columbus Towel
Mill and the Phenix City Plant
will have a supper meeting
starting at 6 p.m. at the
Fieldcrest Mills Lake.
New members becoming
eligible for the 25-Year Club, in
the Sheeting Operation, were;
Mr. Hodges, then Governor of North Carolina, is shown in 1960 with then Senators Ken
nedy and Johnson. He had just been named to head the Business and Professional Commit
tee for the presidential campaign.
Luther Hodges Had Long Career With Mills
Luther H. Hodges, 76, who died
at his home in Chapel Hill
October 6 of an apparent heart
attack, had a career of 31 years
with the Marshall Field &
Company mills which were pur
chased in 1953 by Fieldcrest.
Mills, Inc.
He rose from office boy to vice
president of Marshall Field &
Company and general manager
of Fieldcrest Mills before re
signing in 1950 to do public
service. He was elected Lieuten
ant Governor of North Carolina
in 1952 and became Governor in
1954 when Gov. William B.
Umstead died. He was elected
Governor in a landslide vote and
served his own term from 1956 to
1960.
President Kennedy named Mr.
Hodges to be Secretary of
(Continued On Page Two)
Organization Changes Are Announced
Auburn University with a B.S.
degree in business ad-
Evelyn M. Amburn, Pauline S.
Barham, Vera S. Dalton,
Margaret 0. Estes, Frances S.
Hall, Nina G. Harding, Gladys
W. Murphy, Alene W. Patterson,
George Shropshire, Jr., Grace S.
Thompson and Riley Wm.
Wilson.
In the North Carolina Specials
Department Mary D. Clark
became eligible for 25-Year
Club. Mildred E. Westmoreland
became eligible at the General
Offices.
New members at the
Columbus Towel Mill and the
Phenix City Plant are: Shead
Abrom, James W. Barnes, Alice
F. Ellerbee, Mahota M. Gray,
Joe R. Kimbro, Velma C.
Martin, Johnnie H. McLendon,
Willie B. Richard and Betty L.
Smith.
D. E. Simons, division vice
president and general manager
of Fieldale towel manu
facturing, has elected early
retirement effective January 1,
1975.
In order to effect an orderly
transition of management
functions, the following
organization changes have been
announced by A. L. Jackson,
senior vice president manufac
turing.
C. H. Wiggonton, division vice
president and general manager -
sheet manufacturing, will
become division vice president
and general manager - Fieldale
towel manufacturing, effective
November 1.
W. F. Crumley, previously
plant manager of the Blanket
Greige Mills, was appointed
division vice president and
general manager - sheet manu
facturing and W. F. Robertson,
previously general superin
tendent, was named plant
manager of the Blanket Greige
Mill. Both appointments were
effective October 1.
Mr. Wiggonton, a graduate of
(Continued On Page Two)
Grant Applications Due In Nov.
Please note that those
who already have received
grants-in-aid for the 1974-75
school year need not
reapply at this time. The
grants being considered
now are for those who have
not received grants pre
viously and who are
applying for the second half
of the school year.
Also keep in mind that
applications for Fieldcrest
Scholarships will not be
considered at this time.
Applications for scho
larships are normally taken
in February and notice will
be given to that effect.
Applications for educational
grants-in-aid from the Field
crest Foundation for the second
half of the 1974-75 school year
will be taken during the month of
November. In order to be
considered, applications must be
received by November 30.
Applications for grants should
be submitted to the office of M.
B. Franklin, General Offices
Building, Fieldcrest Mills, Inc.,
Eden, N.C. 27288. Application
forms may be obtained from
area personnel managers.
To date, 144 grants-in-aid have
been given to assist the children
of Fieldcrest employees since
the program was begun in April
(Continued On Page Two)