Competition But Little Contest

N.J. Bank Premiums To FDIC Double

CAPE MAY — Surprises and *3-0 matches were the name of the game in area volleyball play last week here. One bf the first was Library III taking Buck’s Electric 16-14,15-13 & 15-11. Dexter’ Faunce, Mike Costello and George Butler were unstoppable serving, setting and spiking. Honorable mentions for Buck’s were Mike Dodsworth and Chris Durkds. Roth’s Candyland had no contest with the slammers as they took their match 3-0. On hand for the victory were Tom Roth, Joe llalicz and Big Bob Jackson. ONE OF THE most exciting games of the season was the heavy duty match between Whipporwill Campground and Gloria’s Saloon. Whipporwill came out fighting as Stick Faragher continuously rose up to spike the ball cross court into Gloria’s turf. Whipporwill took the first match, 15-0. Gloria's boys were nervous, but the veteran team roused and took the second game, 15-13. John Wllsey attempted to and stopped many of the spikes shot his way. Rick Ferrante and Norm Labounty were in perfect unison as- they jumped continuously to block balls at the net. Whipporwill kept their cool and came back at Gloria’s hard and jnean. Tom Lowy still thought the game was fun as Whipporwill tok the last game, 15-1' FORMIDABLE Roth’s Candyland ladies took another 3-0 match against Guarantee Bank. The scores 15-5,15-6 & 15-0 were made posible by Donna Sayre serving. Marlene Mediuch setting and Lorraine Holt diving and saving. Kona Sports played tough Wednesday and took ' their match against Vance’s, 15-9, 15-11 & 15-13. The playing ability of Lauren Taylor and Nancy Lcller were strong for Kona. The Needlers III showed C-View Inn what they were m ade of a$ they took their match, 15-9, 15-10 & 15-7 Marianne Lamach & Maryanne Haflin were* 4 strongly responsible for their victory. BREAKWATER Electric’s Terry Brown, Bill Garrison and Jerry Griffin were unstoppable as a force as they plowed into

their game against DeKelco and took them to the net not once, blit three times as the mattfh ended, 15-7,15-11 & 15-2. On to victory again against the Salty Dogs via a forfeit, this time Cape May Exxon. STANDINGS PowfT Lrainw: W L 1 Whipporwill Campgrounds * I 2 Roth’s Candyland 7 2 3 Gloria's Saloon 6 3 « Library III 4 5 5 SUmmrrs ■ 2 7 6 Buck’s Electric 0 9 Women's: W L 1 Roth's Candyland 9 0 2 Needlers uft 3 t 3 Kona Spring Goods 5 4 4 C-View A 4 5 5 Guars A* Bank 2 7 6 Vance’s Bar 2 7

3rd Number Calls Face New Curbs

NEWARK - New Jersey Bell operators began Oct. 1 notifying customers placing calls billed to a third telephone from a public (coin) telephone that starting Nov. 1 there will be a significant change in the way the company handles such calls. Beginning Nov. 1, operators will not complete third-number billed calls from coin telephones unless the charges are accepted by the third party. If there is no one at the billing number or if the line is busy, the call will not lx? completed unless tl)c customer can provide alternate billing such as collect or calling card. UNDER THE CURRENT procedure, which became effective earlier this year, operators attempt to verify acceptance of the charges by the third party before processing the call. If the billing number is busy or does not answer, however, the call still is put throught. ‘ • TH I R D- N UMBER fraud has continued to increase despite our efforts to curb it,” said Gerard Dalton, N.J. Bell's general manager qf operator services. “While the new vertification procedure may inconvenience some customers, eliminating fraudulent use of thirdparty billing will benefit all customers.”

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Princeton — Premium payments made by New Jersey banks to the government fund that insures bank deposits will nearly double this year from what they were in 1981. The New Jersey Bankers Association said a check made with the Federal Deposit Insurance Corp., the Washington-based agency that collects and administers the fund, showed that fund payments by all commercial banks in the state for 1982 will come to an estimated $28.89 million. That compares to an approximately $15 million payment for the previous year. FOR 1983, the premibm payments are expected to be even higher in the neighborhood of $30 million. Bank payments to the fund are assessed with some variations on a basic formula of 1/12 of one percent of their annual deposit levels during the year with a year-end rebate credit. Increases normally have been limited from year to year through regular rebate levels, and usually

have occurred only as a bank’s own deposit base j has increased. THE CURRENT worth of the FDIC Insurance Fund is quoted at about $13 billion, but the FDIC said the nearly doubling of the premiums that banks have been required to pay this year to maintain the fund has been dud to the payments the agency was called 6n to make under its insurance of bank and savings bank deposits up to $100,000, in cases of forced bank mergers or failures. Most of the larger payments that had to be made resulted from a number of savings' banks that had to be aided on their negative net worth position that has affected the thrift industry of savings banks and savings and Ida ns. PART OF the bank premium payments to the FDIC also ade used to defray the operating expenses of the agency which is a self-supporting activity for which no tax revenues are used. Full payment of each bank’s annual insurance

fund assessment is made in' two installments a year on the basis of its June 30 and Dec. 31 deposit totals. Banks traditionally have received a rebate on these full payments after the FDIC determines its operating costs and any additions it wanti to make to the insurance fund. For 1981, Dennis J, Kramer, acting fiscal agent for the FDIC, said the rebates made to banks amounted to approximate ly 55 percent of the payments, For the first half of this year, however. Kramer said the rebate level was down to about 18 percent and will be close to zero for both the latter half of 1962 and all of 1983

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