The clothmaker. [volume] (Clinton, South Carolina) 1952-1984, February 15, 1981, Image 1
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CLINTON
MILLS
February 1981
85 Year
1896?Clinton Cotton Mills founded v
1902?Lydia Cotton Mills founded wi'
1926?C.M. Bailey elected president i
president of Clinton Cotton Mills.
1931?Heart of Great Depression.
1935?W.J. Bailey elected president
1948?P.S. Bailey elected president c
tons, Inc. Established.
1952?The Clothmaker began public<
1956?Old Timers Club organized. M
1958?Robert M. Vance elected Clint
1959?Sale of company owned home
1963?Plant I and Plant II gained sei
1964?Merger of Clinton and Lydia C
1966?Ground broken for Bailey Pla
established.
1970?Made entry into warp and dou
1971?Seventy-fifth Anniversary of C
1 Q73 P.lintnn annnimrpH thp rnriQtri
warehouse for the CJinton Plants. Compar
Clinton announced the purchase of Midma.
Plant No. 2 celebrated million safewi
awards program expanded.
1976?Clinton Mills observes 80th
Mills subsidiary Mid-America Yarn Mills
1977?Clinton clinic moves into n
announces Matching Gifts to Education
1979?Clinton Mills, Inc. names Robe
H. Cornelson, President; C. Bailey Dixor
sidiary Operations; Arthur C. Young, Vic
1980?Mid-America Yarn Mills, Inc. I
retires as Vice President of Manufacturi
Barry Hooks named General Manager <
Assistant to Vice President of Manufact
donor" drive.
1981?r-Clinton observes 85th Annive
ployees becomes effective.
There were many events in the history c
here. This brief outline touches only th<
Raleigh Named To Fa:
W. James Raleigh has been appointed by
New York Board of Trade Chairman Richard
W. Seeler to serve as the Board of Trade's
representative on the Mayor's Fashion
Advisory Council. The Council is a newly
created liaison group to work with the city
administration and the fashion-Textile industry
to initiate programs for upgrading and
Bailey Foundi
Since inceDtion of the Bailev Foundation
Matching gifts to education program December
1, 1977, thirty-two qualified educational
institutions and programs in ten states
have been recipients of $52,682 in gifts
from forty-two eligible donors under the provision
of the program, according to Foundation
Administrator Claude A. Crocker.
During the past "Matching Gifts" year,
thirty educational institutions received
$19,997 in matching gift contributions.
The Matching Gifts to Education Program
is designed to encourage Clinton Mills, Inc.,
its subsidiaries, and affiliated corporations'
employees and directors to give personal
financial support to educational institutions
of their choice which meet the eligibility
requirements. Such gifts, in amounts of $10
to $ 1,000 per calendar year which meet the
conditions described herein, will be match
ed dollar for dollar by The Bailey Founda
h)
\Wm "Hi
highlights
vith Mercer Silas Bailey as President,
th Mercer Silas Bailey as President,
of Lydia Cotton Mills. W.J. Bailey elected
of Lydia Cotton Mills.
)f Clinton-Lydia Cotton Mills. Clinton Cotition.
.S. Bailey Scholarship fund established.
:on and Lydia Cotton Mills President,
s.
parate identities,
otton Mills.
nt. Profit Sharing and Retirement Fund
ible knit fabrics markets,
linton Mills.
iction of a new 35,200 square foot cotton
ly beg[ins "hearing" test program in Plants.
America Yarn Mills, Inc. of Pryor, Oklahoork
hours in November. Continuous service
Anniversary. Clinton's Mid-America Yarn
,, Inc. acquires Talladega Plant,
ew medical facility. Bailey Foundation
Program. Clinton acquires Geneva Plants,
rt M. Vance Chairman of the Board; George
l, Vice President of Engineering and Sub:e
President of Marketing.
PeginsYuma, Arizona Plant. D.H. Roberts
ng and is succeeded by J.R. Swetenburg.
Df Geneva Plants; Glenn Gaskins named
uring. Clinton begins in the plant "blood
rsary. New retirement plan for hourly emit
Clinton Mills, Inc. that are not mentioned
j highlights.
shion Advisory Council
improving the fashion image in the city.
Raleigh is a member of the Executive Committee
of the Board of Trade and past Chairman
of its Textile Section. He also served as
Chairman ot the Marketing Committee ot
A.T.M.I., (American Textile Manufacturers'
Institute).
ation Matches
tion.
Employee Eligibility Under the Plan
An employee, at the time of his or her
contribution, must be in the active regular
employment of the company, and shall have
had at least one (1) year of continuous service
in such employment. Directors of the
Company are eligible from the date of their
election to the Board.
taucationai institution uuaiitying Under
the Plan:
A qualified educational institution must
meet the following requirements:
A. Be a non-profit and non-proprietary two
or four year recognized degree-gianting college,
university or technical school fully
accredited by a recognized national or regional
accrediting agency, or a non-tax supported
secondary school.
B Be located within the continental United
States and recognized by the United
States Treasury Department as an organiza
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Mrs. Rose Montgomery, a din
anniversary cake. (See anniversa
Profit Sharing Statemc
Individual Profit Sharing Retirement
statements were distributed to eligible employee
plan participants on February 2.
1981.
The Company's contributions totaled
$825,591.30 for calendar year 1980.
The value of the fund as of December 31.
1980 totaled $5,524,310.35.
In November (1980), the Company
announced an Improved Retirement Plan for
hourly paid employees.
The new plan, which became effective
January 1, 1981, will provide guaranteed
and improved retirement benefits based on
earnings and years of accredited service of
Employee Gift!
tion towhich contributions are deductible by
the donors for federal income tax purposes.
Employees' Contributions Under the Plan:
An employee contribution is one which is
the personal gift of an employee, actually
paid by the employee, and not merely
pledged to a qualifying educational institution.
An eligible employee may make a con
tribution to more than one qualifying educational
institution. The total amount of the
matching contributions to institutions shall
not exceed $1,000 per individual during
one (1) calendar year during which the Plan
operates.
The Foundation's Contribution:
The Foundation's annual contribution
under this program will match a personal
contribution in amount of $10.00 or more of
any individual employee, but shall not ecxeed
$1,000 in any one (1) calendar year.
Restrictions on Use of Contribution:
Under this program there shall be no res
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r Errnloyees of Clinton Mills
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?ctor, and Chairman Vance cut
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mts Distributed
participants.
For eligible participants, this new plan
replaces the Clinton Mills Profit Sharing Retirement
Plan which was adopted for hourly
paid and incentive employees in 1966.
All funds accumulated under the Profit
Sharing Retirement Plan will be preserved
and remain in interest bearing accounts.
Annual statements will continue to be
issued showi-g the value of each account.
Employees who were participants in the
Profit Sharing Retirement Plan December
31, 1980 were automatically vested regardless
of the length of service.
Full details of the new pension plan will be
available in the near future.
?To Education
trictions on the use of the individual or
Foundation contributions by the recipient
institutions.
Qualifications for Contributions:
In order to qualify under this program, the
employee's contribution may be in the form
of cash, or securities having a quoted market
value, and paid directly to the qualified institution.
termination or Program:
The Foundation reserves the right at any
time to amend, suspend, revoke, or terminate
this program with respect to employee
contributions thereafter made.
Administration and Interpretation of
Program:
Any question as to the interpretation, application,
or administration of the provisions
of this program shall be decided by the
Advisory Committee of the Foundation,
whose decision shall be final.