THE MILL WHISTLE
Eden, N. C., January 26,1976
No. 14
Columbus Mill
l*lans Expansion
speijfcrest Mills, Inc. will
for g ^approximately $2 million
Hcrea, “onal equipment to
Nitv f production of
Wl *^he Columbus
J ^>11, Columbus, Ga.
0(Hi!pf?P^''sion project was an-
'f'viti!: *^y C. L. Kametches,
'■Sion
Coll
'erai
vice president and
manager of the
Pus operation
till Che new equipment
Sfp(q jUCditional looms which
j Po installed in the space
- ***»3i.aiicu 111 Ulc
•Pofg,. U'lable when the sewing
■'.. *on was moved to a new
«^t K *1 ^ iiiuveu Lu a new
at Phenix City, Ala.
Sih Che sewing and
operations to
*lli)((,A C"ity about a year ago
for the expansion of
weaving capacity at the
Columbus mill.
In connection with the current
expansion, air conditioning and
utilities at the Columbus Mill are
being increased in preparation
for the arrival of the new looms
in May and June.
Mr. Kametches said that, in
addition to purchasing new
looms, the project includes funds
for modernizing existing looms.
This work will be carried on
along with the installation of the
new looms.
The Columbus Mill already
has the supporting facilities for
the additional weaving capacity.
The present expansion will
create approximately 70
additional jobs in the Columbus
operation, Mr. Kametches said.
Members Paid
91,547 Dividend
l|
.Cr,
Union members
5 5191,547 in dividends
six months ending
an all-time record
ent.
laCest dividend makes a
Sb5 .^C>928,145 paid to
'tedium in dividends since the
^ Union was started in 1958.
'as!(C^Pcember 31 dividend
W Che rate of 7 percent per
xJJlJ^presenting the sixth
c,
onfesfs
^0
Begin
Cft^Uiinary competition to
Jl'ipJl’Ue the doffing champion
uPfest Mills is about to get
'6 ^ay, in preparation for
|«w *^ational Superdoffer
,\w?'Uent sponsored by the
Sh^'^un Textile Manu-
,®''s Institute (ATMI).
iVj.p. some doffers already
W^^'d they want to take part,
KNf^utries are expected from
Jeij^Per Sheeting, Bedspread,
C® Towel, Alexander
t;-“g and Columbus Towel
M pS from those mills who
Jeifi-u participate should tell
!”Cuiediate supervisor, who
, otify the area personnel
fCoi
'Utinued on Page Eight)
increase in dividend rates since
the Credit Union began.
In commenting on the latest
dividend payment, L. E.
Chewning, president of the
Fieldcrest Mills Credit Union,
said;
“One of the main purposes of
the Credit Union is to provide a
place where members can save
regularly and conveniently and
receive a good return on their
investment. The Credit Union’s 7
percent rate is the highest rate
obtainable on this type of
savings.
“Another purpose is to make
low-cost loans to members to
help them with important
purchases or tide them over
financial emergencies. The
Credit Union now has a low 9.6
percent annual interest rate
which was reduced from 10.8
percent effective January 1,
1976.
“Because of the lowered
interest rate and the already-
high return on savings, the
Credit Union provides an
excellent place for borrowing or
saving. If you will shop around,
you will find that the Credit
Union offers the best deal to be
found.”
Mr. Chewning urged the
members to make full use of the
Credit Union for both borrowing
and saving. He invited
employees who are not members
(Continued to Page Eight)
EARLY BIRD — Ray Reynolds, long-service
employee of Karastan Weave Room, mails income
tax returns shortly after receiving W-2 forms. Early
filing normally means earlier refunds.
File Early To Get Earlier Tax Refund
If you’re like most taxpayers,
chances are you’ll receive a tax
refund this year — perhaps as
much as the $290 average refund
issued last year by the Internal
Revenue Service.
There’s one thing to
remember, however: when you
receive your refund depends on
when you send your return. To
get the fastest refund, the IRS
suggests that you file early.
It’s possible your refund will
be helped by changes in the tax
laws which allow a 16 percent
standard deduction and the
personal exemption credit, the
latter effective for only the 1975
tax year.
Take the change in the
standard deduction. On last
year’s returns, taxpayers were
limited to 15 percent of adjusted
gross income to a maximum of
Deadline For Scholarship
Applications is March 1
March 1 is the deadline for
submitting an application for a
Fieldcrest Scholarship.
Scholarships at the Columbus
Towel Mill, formerly granted by
the Muscogee Foundation, will
be granted by the Fieldcrest
Foundation in 1976.
Announcement of the awards
of tha scholarships will be made
in April.
In recent years the deadline
has been advanced and the
application blanks made
available earlier in order to help
students with their planning.
The applications being
accepted now are only for scho
larships leading to an under
graduate degree at a 4-year
college or university. The
scholarships are worth $4,800
each over the four years of
college attendance.
Those who wish to apply for a
scholarship should obtain an
application form from their area
personnel manager or personnel
office, or call at the Employ
ment Office of Fieldcrest Mills,
Inc. in the General Offices build-
(Continued to Page Seven)
$2,000. This year, the percentage
has been increased to 16 percent
with a maximum of $2,600 for a
married couple filing jointly, or
$2,300 for a single person ($1,300
for a married person filing
separately).
Many taxpayers who have
always itemiz^ and filed the
1040 form may find it to their
advantage to use the simpler
Form 1040A this year and take
the standard deduction.
It’s a goodidea to work out the
tax liability both by itemizing
and by taking the standard
deduction. While it may take a
little longer to go through the
whole process twice, it just may
mean saving a considerable
amount.
Whether you file the 1040 or the
1040A, you will be entitled to the
personal exemption tax credit.
This credit amounts to $30 for
each regular exemption to which
the taxpayer is entitled.
However, individuals who
claim additional exemptions
because they are blind or are
over 65 years old, may only
claim one $30 credit for them
selves.
It’s a good time to file now
because at this time of year j^ou
(Continued to Page Eight)