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                                                                   EXHIBIT 10.15


                              November 18, 1994



TO:             Bob Nelson

FROM:           Richard H. Monk, Jr.

        I am pleased to inform you that you have been approved to participate
in the management incentive plan for fiscal 1995.  You will participate in the
plan based on an individual percentage award of 40%.

        For fiscal 1995, the amount of your actual incentive award will be
based on two factors:  (1) Financial Goals, and (2) Personal Goals, as set
forth below.

                               Financial Goals

        The Financial Goals for your fiscal 1995 award are as follows:

                                          (Thousands of Dollars)
                                                          Corporate
                Performance       Walton Fabrics      Operating Earnings
                  Level           Division Income          (EBDLIT)
                -----------       ---------------     ------------------

                    50%               $ 3,750              $50,000
                   100%                 5,000               60,000

        The portion of your actual incentive award related to Financial Goals
will be based 50% on Walton Fabrics Division Income and 50% on Corporate
Operating Earnings (EBDLIT).  This portion of your actual incentive award will
be determined by multiplying your total base salary paid in fiscal 1995 times
your individual percentage award times the sum of 50% of the Performance Level
achieved for Walton Fabrics Division Income and 50% of the Performance Level
achieved for Corporate Operating Earnings (EBDLIT) as set forth above and will
be calculated by the Company.  The Performance Levels will be prorated when
final financial results fall between the 50% and 100% levels.  No incentive
award based on Financial Goals will be paid if the applicable Performance Level
is below 50%, and no additional incentive award will be paid for any financial
results which exceed the 100% Performance Level.

                                Personal Goals

        An additional incentive award of up to 25% of your individual
percentage award may be made to you based upon successful achievement, as
determined by the Company, of your Personal Goals for fiscal year 1995.  A copy
of your Personal Goals is attached.

        The general guidelines of the plan for fiscal 1995 are as follows:


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Bob Nelson
November 18, 1994
Page 2


        1.      Corporate Operating Earnings (EBDLIT) and Walton Fabrics
                Division Income will be defined as reported in the Company's 
                financial statements.

        2.      Your actual incentive award will be paid on an annual basis,
                with payment to be made as soon as practical after the fiscal 
                year audit is completed.

        3.      No incentive award will be paid if you are not in the employ
                of the Company on the last day of the fiscal year (effective 
                date of severance must be on or after fiscal year end).

        4.      In the event you are reassigned or given a new position and
                responsibilities during the fiscal year (promotion or 
                demotion), payment of the incentive award will be determined 
                on a case-by-case basis.  The Company reserves the right to 
                deny payment or to reduce the incentive award in the case
                of demotions.


        Please indicate your understanding of the plan, the performance goals
and your potential incentive award by signing and returning this letter to me. 
A copy is provided for your personal files.


                                        /s/ Richard


RHMJr/cas

Acknowledged:  /s/ Robert G. Nelson
               ---------------------------
Date:   11/21/94
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                           WALTON FABRICS DIVISION
                          FISCAL 1995 PERSONAL GOALS
                                      
BOB NELSON, PRESIDENT, WALTON FABRICS DIVISION

1.      Meet budgeted conversion costs of $.6006/pound.

2.      Meet or exceed raw material recovery goal of 94.5%.

3.      Achieve 0 lost time and 8 recordable injuries maximum.

4.      Meet budgeted average division margin of $.1985/pound.

5.      Develop and introduce 2 new value-added, enhanced profitability
        programs which result in sales of at least 100,000 yards of each product
        annually.