History of the formation of Textiles, Inc. and the merge of various Gaston County mills under the Textiles, Inc. moniker during the Great Depression. Transcription: GASTON COUNTY MILLS / TEXTILES, INC -- 19[?]1 - A.G. Myers, R. Grady Rankin, J.H. Separk, J. Lander Gray, Clyde C. Armstrong, A.K. Winget, S.N. Boyce / A large number fo the textile companies in Gaston County, probably most of them, began to experience serious financial difficulties in the late 1920's. To make matters worse, the stock market crash of late 1929 caused a world wide financial panis and increased the strains on the over-extended companies. A new company, TEXTILES, INCORPORATED, was born in the depression as the result of the consolidation of 14 combed yarn mills of the Gaston County area and the acquisition of six other mills. The mills were primarily those of the Gray-Separk, Rankin and Armstrong groups of mills. All of the original mills which were merged into TEXTILES, INC. were in financial trouble and a receiver was appointed to run the new company. The new company had a combined spindleage of 303,740 ring spindles and represented approximately 22% of the total yarn spindles in the South. A prominent Gastonia banker, Albert G. Myers, was appointed receiver for TEXTILES, INC. Under