Herald & Lantern 28 September '83

Horizon Promotes Executives

business

33

PHILIP W. KOEBIG III

S. Jersey Gas Buys Into Cape

FOLSOM - The New Jersey Board of I^iblic Utilities has granted approval to South Jersey Gas Co. (South Jersey Gas) to purchase the natural gas distribution facilities in Cape May County from New Jersey Natural Gas Co. (New Jersey Natural). In his announcement, William F. Ryan, president of South Jersey Gas, indicated that the closing date is scheduled for Oct. 3. He further reported that the purchase price of approximatley $17.7 million will include all net utility plant, real estate, franchises, and all current assets, including transportation equipment and inventories. THE TRANACTION will allow South Jersey Gas to increase its number of customers by 27,000 in 15 additional municipalities, thus raising its total number of customers served to approximately 160,000. Ryan assured the Cape May County customers that their rates for natural gas or other terms and conditions of. service will remain intact. New Jersey Natural previously purchased natural gas from South Jersey Gas to supply the consumers in Cape May County. When South Jersey Gas officially assumes responsibility for natural gas service in the county in October, its service territory will encompass the seven contiguous counties in southern New Jersey, including- all of Atlantic, Cumberland and Salem counties and portions of Burlington, CiimHeT? and Gloucester counties. South Jersey Gas is a subsidiary of South Jersey Industries and is headquartered in Folsom in Atlantic County.

WILDWOOD - The local banking executives have been promoted, effective Jan. 1, 1964, by Horizon Bancorp, Morristpwn. James L. Billmeyer, now president and chief executive officer of Marine National Bank, has been named executive vice president of Horizon Bank, N.A. Philip W. Koebig HI, executive vice president of Marine National, has been promoted to president and chief executive officer of Marine. BILLMEYER WILL be assigned administrative responsibilities in'connection With the mergers of two Horizon ‘affiliates, American National Bank and Northeastern Bank, as well as the northern branches of Northern National Bancorp, which is to be acquired by Horizon later this year. The resulting mergers will create Horizon Bank, N.A. This new bank is expected to exceed $1.25 billion in assets and have approximately 50 branches; it will be headquartered in Morristown. Prior to joining Marine National Bank in 1974 Billmeyer was associated with Princeton Bank and Trust Co.. of Princeton, (another Horizon affiliate)

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SEAVILLE - It was strictly a family affair when Mrs. SarahM. Wet> her became a second lieutenant in the Army Nurse Corps, U.S. Army Reserve, Sept. 14. Her husband, Capt. Grover R., Webber, who is an officer in the Medical Service Corps, U.S. Army Reserve, administered the oath of office to the new lieutenant. Both are serving with the 361st Evacuation Hospital in Folsom, Pa. LT. WEBBER is also a public health nurse with the Holy Redeemer Visiting Nurse Agency in Swain ton. In civilian life, Capt. Webber is a principal planner with the Cape May County Planning Board in Court House. Their son, Scott, is on active duty with the U.S. Navy as an electronics

technician aboard the U.S.S. Moctobi out of Long Beach, Cal. Scott is a 1981 graduate of -Ocean City High School. The Webbers’ others son, James, is a senior at Ocean City High School.

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