Herald & Lantern 20 April '83

■7* Anchor Reduces Interest; First Savings Still High 5

*************** IRELAND

THE

EMERALD ISLE ^ S DAYS FROM

PHILADELPHIA

$69900*

JOHN F. DUNWOODY

By JOE ZELNIK Unless they’ve been call ing on the phone or stopping in to inquire, insured money market account holders with Anchor Savings & Loan will get some unpleasant news in their monthly statements this week. Anchor on March 22 reduced its interest rate

Dunwoody Named Promotions Director

John F. Dunwoody of Cape May has been named director of Special Promotions for the Cape May County Herald and Lower Township Lantern, according to Publisher Darrell Kopp Dunwoody. 42. has been with the weekly newspapers since January 1982. He was named adver tising coordinator last August "John has been a valuable asset to the paper in this period of steady growth.” said Kopp "We expect that his new duties will allow him to use his vast experience in advertising design even more effectively.” Dunwoody attended the Charles Morris Price School of Advertising in Philadelphia and the Philadelphia College of Art He was in the U S. Coast Guard Reserve from 1958-60 He was advertising manager and production manager for the Ocean County Observer, advertising manager for Silo Appl ia nee Centers in Philadelphia, a partner in Dunwoody Builders Inc., and advertising director for Harry Levin Inc in Philadelphia before com

ing to Cape May three years ago. Dunwoody and his wife, Donna, own the Brass Bed guest house on Columbia Avenue in Cape May. He also is treasurer of the MidAtlantic Center for the Arts, member of the Vintage Home Owners Association of Cape May. member of the Cape May Chamber of Commerce and chairman of its Governmental Affairs Committee, and a sales associate with the Sol Needles Real-Estate Agency

one-half of 1 percent, from the 91-day Treasury Bill rate plus one-half of 1 per cent to simply matching the T-Bill. Through Mon day of this week. then. Anchor was paying 8.165 on its money market account and 7.165 on the Super Now. which permits unlimited checking. Anchor’s reduction left First Savings & Loan Assn of Sea Isle City as the highest interest 'payer in the county It still pays T Bill plus ,5 or 8.665 and 7.665 for the Super Now Anchor Treasurer William Brambes said it cut its rates "to stem the flood of money coming in The venture was successful in drawing money from the money markets. But we were overly ambitious. It was coming faster than we could get it out." Ocean City Home Savings & Loan, which bases its rate on T-Bill plus threeeighths of 1 percent, is paying 8.54 for the Money Market and 7.165 for the Super Now, the second highest rate in the county. These new accounts started in mid-December and are largely responsible for 19 consecutive weeks of

4 Lost as Clammer Sinks

CAPE MAY - Four Cape May County fisher man drowned last Tuesday when their clammer. the Misty Blue, went down about 30 miles southeast of Cape May. The bodies of Captain

Bloodmobile Set Friday

SEA ISLE CITY - The American Red Cross bloodmobile will be at the VFW Hall on Kennedy Boulevard from 1 to 6 p.m. Friday Those who would like an appointment to save time should call Tiny Retry at 263-8616.

James Partin of Wildwood and crew mentbers Kristian Isaksen of North Cape May and Warren Kight of West Cape May were recovered Wednesday The fourth crewman, ^Edward Coleman of Creen Creek, was found Tuesday The clammer. owned by Erik Kirkenberg of Wildwood, was headed for Snow Food Products dock in Lower Township with a load of clams when the accident occurred It radioed Snow’s around 11:30 a,m Monday that it would dock around 1:30 a m When it didn't arrive by 4:30, com pany officials notifed the Coast Guard Coast Guard officials said Monday the incident is still under investigation

>41*41? JE. E€Cy JtCDz:

Arriving Daily Active Sunwear For /Missy, Juniors, Children, /Men’s and Young Men’s 11 AHUM

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reductions in money market mutual funds, which have been flowing in to banks and savings institutions The mutuals have fallen 23 percent since Dec 1, from $232.6 billion to $178 3 billion The financial institutions can change their rates as often as they wish and pay whatever they like Most announce rates on Tuesday of each week, keying them to the T-Bills auctioned on Monday The money market per mils a maximum of six transactioas. three of them checks The Super Now has unlimited checking. Following list of the remaining 12 county financial institutions, in alphabetical order, gives the insured pioney market account interest followed by the Super Now interest rate. Cape May County Savings & Loan, 8 41, 6.5. Citizens United Bank, 8, 6.5 Collective Federal Sav ings & Loan. 8.25, 7.75. Crest Savings & Loan. 8.16,7 16 \ First Jersey National Bank, South, 8.21, 6.76. First National State Bank of South Jersey, 8.196. 6 939 Guarantee Bank, 8 165, no Super Now. Heritage Bank. 8 1, 7 Marine National Bank, 8.W. 8.5. Security Savings & Loan. 8 25. 7 Sturdy Savings & Loan. 8 415. no Super Now Union Trust Co of Wildwood. 7.61, 6 5

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