Employee’s Grandchildren
Bridges, four
John, and Angela Gail
Hj three months old, are
KranH«i,;ij— q£ Gennie
oi uenme
CaJ c employed in the
Shjf. oom at the Alexander
“ng Mill. Timothy is the son
One Year Old Amanda Strader
jn/'J'don Michael Fortner is
Mida old. His mother,
i:l« Fortner, is employed in
'tel f^opartment at the
Towel Mill.
jst Birthday
Amanda Strader, five months
old when this photograph was
made, is the daughter of Mr. and
Mrs. Freddie Strader, both of
whom are employed in the
Bedspread Finishing Mill. She is
the granddaughter of Mr. and
Mrs. John Burchette (Elaine),
both of the Weave Room at the
Draper Sheeting Mill.
On Cruise
I
Lee Smith, Jr.
iJ^ted his first birthday on
jOber 7. He is the son of Mr.
ffoward Lee Smith, Sr.
jg“ther, Teresa, is employed
I ^ut and Sew Department
Bedspread Finishing Mill.
“Parents are Mrs. Rosalie
ii7fy. an inspector at the
«?t Finishing Mill, and Mr.
, George W. Smith of
^'ie, Va.
Y, FEBRUARY 9
Navy Seaman Recruit John J.
Kennon, son of Mrs. Lois Kennon
of Eden, is embarked on a
Mediterranean deployment
aboard the guided missile
cruiser USS Dale, homeported at
Mayport, Florida.
While deployed, he and his
shipmates will participate in a
variety of training exercises as
part of the U.S. Sixth Fleet and
will visit several European
countries.
Morehead
Hi^ School, he joined the Navy
in October, 1974. His mother is
employed in the Weave Room at
the Blanket Greige Mill.
,1976
Ask IRSi Group
Your Tax Questions
of Mr. and Mrs. Gene Bridges of
Gaffney, S.C., and Angela is the
daughter of Cpl. and Mrs.
Paxton Johnson. Cpl. Johnson, a
former Alexander employee, is
now stationed at Okinawa. Mrs.
Johnson resides in Ellenboro.
Q. I will not earn enough this
year to be required to file a tax re
turn, and I have had no taxes with
held. I am told that I should file a
return anyway because I may be
eligible for a rebate from the gov
ernment. Is this true?
A. Yes. This year, some taxpay
ers with earned income (wages
and salaries minus any sick pay
exclusions, plus tips and self-em
ployment earnings) below $8,(X)0
may be eligible for a tax credit
from the government. If your cred
it is more than the tax you owe, or
if you owe no tax, the tax cred it will
be sent to you. For this reason, it
may be advantageous to file a re
turn this year.
To be eligible for the earned in
come credit.you must maintain for
an entire year a household which
includes at least one dependent
child under 19 years old (or a stu
dent), and have a taxable year
that represents twelve full months.
The credit is 10 percent of
earned income if you make $4,0CX)
or less. That’s maximum credit of
$400. If you earn over $4,000, this
maximum credit is reduced by 10
percent of the amount over
$4,000.
Robert Lee Stroud, an em
ployee at the Alexander Sheeting
Mill, was recently named
Rutherford County 4-H leader of
the year and was also the
recipient of a special award at
the annual 4-H Achievement
program held at Ruth School.
The annual award is given to an
outstanding 4-H leader in
recognition of outstanding
contributions to 4-H work.
Mr. Stroud organized the
Hopeview 4-H Club in July, 1974,
and has recruited 31 boys and
girls to participate in the
program. Both he and the club
members have been active in
county events and he has served
on several committees. He is
also an Electric Project leader
and has interested many of the 4-
H members in this program.
When asked what 4-H Club
work has meant to him, he said.
ROBERT LEE STROUD
“Being, a 4-H leader has been a
great experience for me because
I did not know there were so
many things you could learn or
do in 4-H.”
For example, if you earned
$4,5C)0, you must subtract $50,
that's 10 percent of the extra
$500, from the $400 maximum
earned income credit. When your
income reaches $8,000, you no
longer receive any credit.
Promoted
GARRY LATIMER
R. Garrison (Garry) Latimer,
dr. was promoted from manage
ment trainee to shift foreman in
the Winding and Beaming
Department at the Karastan
Rug Mill.
He received a BA degree in
international relations and also
an MBA degree from the
University of South Carolina. He
joined the company at the
Karastan Rug Mill as a
management trainee in June,
1975.
FIELDCREST MILLS CREDIT UNION
FINANCIAL STATEMENT
ASSETS
Eden, N. C.
December 31,1975
BALANCE SHEET
Prepaid Expenses
Office Equipment coo
Interest Receivable ..." Knc7Q
Total Assets *7
LIABILITIES AND NET WORTH
1™“*::::::::::; w??
Undivided Earnings
Accrued Fees .... ro^o
Total Liabilities & Net Worth... onc’ooc
PROFIT AND LOSS STATEMENT 306,286
INCOME
1974
$3,220,266
2,938,880
3,587
718
52,381
$6,215,832
$5,359,860
488,928
365,124
1,920
$6,215,832
Interest on Loans « 019 01 n
Interest on Investments ■ oqq nan
Total Income
EXPENSES ^ b51,298
Clerical Cost ^ 4. ^
Insurance ,^^07
Bonding Fee
Banking Service Charge
Depreciation 447
State Supervisorv Fees onfi
Another '
Total Expenses 7^’^
DISPOSITION OF PROFITS ^ 474,451
Dividends « qfiq 749
Reserves ^ ^g,7^
::::::::::::::::::::: isS
^ $ 474,451
$ 298,756
196,258
$ 495,014
42,459
3,405
12,015
1,236
2
463
3,231
4,480
67,291
427,723
$ 322,387
85,544
19,792
$ 427,723