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for Doggett, James A
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In 1964, the P.H. Hanes Knitting Company and the Shamrock Hosiery Mills merged to create the P.H. Hanes & Company. These two clothing manufactures broke sales records after the merger, with a ten percent profit increase during the first year. The merger produced a large firm with public stock that intended to increase the value of stock dependent upon the expected increase in consumer demand for clothing that occurred for the rest of the decade.
The 1949 General Assembly of North Carolina recognized that the increased cost of paving and maintaining city and town streets presented a difficult problem for municipal governments. The State-Municipal Road Commission set out to gather data on how roads are financed and offer recommendations for treatment.