32

business

Herald & tantem 1 February '**

SJI Income Zooming

FOLSOM - South Jersey Industries. Inc. kSJI). a diversified natural gas and natural resources holding company, reported a |02 percent increase in consolidated net income applicable to common stock for the fourth quarter of 1983 and an overall 25-per-cent increase in net income for 19p3, compared-to 1982, according to William. F, Ryan, president and chief executive officer. In add it i o'h. Ryan predicted that consolidated net income /or SJI in the first quartrer'of 1984 will show a significant improvement over the first quarter results of 1983 This projection, is based on col-’ der temperatures currently beingexperienced which . will.havej| positive impact on revenues for South Jersey Gas Company and

JkUTQDfAUKS

5 ter _ 3 G>ftEAT CARS UNDER 1 BURKE ROOF OLDSMOBILE • CHEVROLET

SALESSERVICE-PARTS 522-1475

CLEANERS & LAUNOERERS

Itkdef CLEANERS & LAUNDEREhS EXPERT TAILORING

E1 LEATHER CARE

—DCHTIEC FIXTURES

FraakliR iketrie Lichtiat G"ttr - Residential Commercial Lightinfl Consultants 1 ighting Showroom Complete Lwe Electnc Suppfces 122-77*1 Spkxr Ave. b N J. Ave. Wildwood .

South Jersey Fuel, fnc. Ryan indicated, ‘Results for 1983 are due to significant improvement in the operations of its major subsidiaries, South Jersey Gas Company, South Jersey Fuel.. Inc. and Jesse S. Morie & Son, Inc. It is particularly gratifymg that the primary contribution to Gas Company's results are sales volumes from firm rates -The gas utility is no longer dependent on less stable interruptible sales to large volume industrial' • customfers.” Ryan concluded. “Both utility and ’ nonutility subsidiaries should improve their 1983 performance, since- the company is now stronger and better positioned than ever to grow and prosper/' He added that South Jersey Industries currently pays an annual-dividend on common stock of 12.32 per share, as approved by the board of directofs inFebruary 1983, compared ■with the previous annual rate of 12.20 per share.

Workers Top 1982 Pledge

FOLSONf — Employees of South Jersey Gas Co. (Gas Company) pledged a total of $32,600 to United Way Campaigns in counties throughout southern New Jersey during the 1983 campaign Over 87 percent of the total number employed at the five offices of the gas company contributed to that amount. Employee pledges for this year's campaign surpassed those made in 1982 by more than 15 percent .with an average of $71 per contributing employee. These contributions are the result of the gas com pany’s r active participation in the r United Way Pilot Program, a unique kick-off program conducted prior to the official start of the national United Way Campaign. Informative employee meetings are conducted throughout the company aimed afsthnulatfng increased interestJh making cash donations or pledges through jfhe payroll deduction plan.

Sturdy Promotes Eight Employees

PROMOTE INTERNATIONAL STUDENT EXCHANGE Area Representative Opportunity Are you interested in helping to build friendships with young people from -many * countries 9 We provide a program for European students to spend a high school year in America and we are currently recru'ting AREA REPRESENTATIVES This is a rewarding part-lime position with expenses paid As an AREA REPRESENTATIVE you will 'Select host families and contact high schools . - - t ‘Provide supervision and counseling for students and host families ‘fcfelp organize student activities To team how you can participate, please call COLLECT: John A Judy Oruaka 609-654-5736 Educational Foundation for ■SV*Foreign Study , a non-profit tourtdatiori

STONE HARBOR — Four members of the board of directors at Sturdy Savings and Loan have been re-elected to new terms, according to John L. Armour, president of Sturdy Savings arid Loan According to Armour, Ellis A. Mixner. George f. Harris and Robert C. Wilson were re-elected to three-year terms on the board while Kenneth A. Holmstrup was re-elected to a two-year term. The president also announced the promotion of eight employees of Sturdy. Promoted in the main office in Stone Harbor were: Richardp. Badgers; senior vice president; Joanne A.’ Gray, vice president, Dennis A. James, treasurer; Danette McDevitt, assistant treasurer and head teller; Betsy -J Harlan, secretary; and Debbie Yoast, assistant secretary. IN THE SAVINGS and loan's Avalon office, Kathy Lloyd was promoted to assistant vice president and Barbara SchSeiCk -to assistant manager. “Each of these individuals is an asset to Sturdy Savings and Loan, and .their promotions are the result of thfcir excellent job performance in their previous roles with the association,"-Armour said. Sturdy’s new seniuor vice president. Richard D. Rodgers, has been employed with the savings and loan for the past 13Va' years. He serves as manager of the Stone Harbor office, and was a vice * president with Sturdy prior . to his recent promotion. A veteran of 20 years in the banking industry, he spent eight years in the retail food business. Rodgers studied marketing at St. Joseph’s University and the University of Delaware. He has completed banking courses in Bank Operations, Commercial Law, Accounting, Effective English, Negotiable Instruments and Practical Business Pijhhology. A RESIDENT of Avfelon, he and his wife, Donna, have a daughter, Jennifer. ' Joanne A. Gray, Sturdy’s newest vice president, has been employed at the savings and loan for the past eight years. Before her pro^ motiorv she was an assistant vice president. A graduate of Glassboro State College with a degree in Mathematics and Education, she has completed a number of banking courses since joining Sturdy. She resides in Ocean View with her daughter,. Amy. Dennis A. James has been named treasurer at Sturdy. James joined Sturdy in February of 1983 as a staff accountant. He was previously employed by Deloitte, HaskinS, and Sells, an international public accounting firm for two years. He holds a BS degree in Business Studies with a

majof in Professional-Ac- ' counting from Stockton State College, where he graduated with highest .honors and distinction m his program He holds an AA degree in Business Administratioh from Cumberland County College; where he was a member of Phi Theta Kappa. the national honor society for junior colleges. HE SERVED four years with the-U^S. Navy Sea bees, and was an honor graduate of the Naval construction school. A resident of Avalon, he and his wife, Patricia, have three children, Michael Brian and Jennifer.

Fishing Boat Loans

Emergency loans to help fishing vessel owners avoid default on vessel mortgages are available from the Fisheries Lofift Fund of the national Maritime Fisheries Service, according to Stewart M. Tweed, marine extension.agent of the New Jersey Sea Grant Extension Service. About $3 million is available, Tweed said, and applications can be made until June L The mor ’gages must have been incurred to finance the construction, reconstruction, or reconditioning of the essel. For further information, contact the NMFS, Northeast Region, Financial Services branch, Gloucester, MA. (617) 281-3600.

Gas paper Rates High

FOLSOM — South Jersey Gas Co., the natural gas utility of South Jersey Industries, Inc., has again received the highest commercial. paper ratings for gas utilities by three financial rating agencies. Standard and Poor’s Corporation, Moody’s Investors Service, and Fitch’s Investors Service. These superior ratings were reaffirmed alter review by each agency and are based on the ability of South Jersey Gas Co. to maintain satisfactory capitalization ratios involving short and long-term debt, preferred stock, and common equity. In addition, rate relief granted in 1982 and 1983 which transferred earnings dependency to firm sales, away from interruptible sales, offers a sufficient degree of earnings

protection

South Jersey Gas Co. serves 160,000 customers in the seven contiguous counties of southern New

Jersey

Assistant treasurer and head teller in the Stone Harbor • office is Janette McDevitt, who has had previous experience as . Avalon’s head teller ; and worked in the bookkeeping department. She is a graduate of Jersey Shore High School in Jersey Shore, PA., and studied^Business * at Lock Haven College in Lock Haven, PA—. A resident of Court House, the new assistant treasurer has also completed several accounting’' courses while at Sturdy. Betsey J. Harlan, a 12year employe of Sturdy Savings and Loan who has been assistant secretary since 1975, was promoted to the position of Secretary recently. A native of Bucks County, PA she resides in Stone Harbor. She has three children, George, Tom and Jean. Debbie Yoast of South Dennis has been promoted to assistant secretary at Sturdy. She is a graduate of Mainland Regional. High School and has completed a number4>f banking courses since joining Sturdy. She is married to John H. Yoast y IN STURDY’S Avalon office, Kathy Lloyd was promoted to assistant vice president. She has been^ manager of that office for the past three years, and had been employed with another financial instituSturdy To Build Facility STONE HARBOR - Sturdy Savings and Loan Association has announced plans to relocate its North Cape May office from its current location in the Breakwater Plaza to a new facility which will be built on Baysbore Road. Construction on Sturdy’s new North Cape May office is scheduled to begin in April, according to John L. Armour, president of Sturdy Savings and Loan, who said the office is expected to be completed by late “OUR NEW office in North Cape May will offer our, entire line of services, like interest checking, Money Market Accounts, Individual Retirement Accounts, plus our full-line of savings plans and certificates," Armour said. “It will also feature driveup facilities, safe deposit boxes and a night depos itory.” * Armour said the new office would be located conveniently on Baysbore Road north of McDonald's Sturdy Savings and Loan, headquartered it Stone Harbor, has five offices in Cape ,-May County, including Stone Harbor, Avalon, Dennisville, Court House and North Cape May.

\

tion for 10 years prior. A graduate .0/ Middle Township High School, she has completed a number of banking courses, including Mortgage Lending and Mortgage Servicing. She and her husband. Gene, residd-in’Eldora with their

daughter, Karen.

Barbara Scheick has been named assistant manager of Sturdy's Avalon office. She previously served as head teller. A two-year employe with Sturdy, she worked for another financial institution for two ,years. She holds a BA degree from Kean College and has worked towards her Master's Degree at Fordham University. She and her husband, Ted, reside in Eldora with their children.

Adrianne and Adam.

Morie €0.

Acquires UTS&G - FOLSOM - Jesse S. Morie and Son (Morie Company), a member, of the Energy and Minerals, Inc. group of companies under South Jersey Industries, Inc. , recently acquired Up-’ per Township Sand & Gravel (UTS&G) in v Cape May. County for a purchase price of approximately $2.5 million, according to William F. Ryan, president of SJI. In the announcement Ryan stated that Morie Company, a shrid and gravel mining operation headquartered in Millville, entered into an agreement with UTS&G to purchase assets, including \all mineral reserves. A lease Agreement enabled Morie Company to operate the plant from September until Jan. 16.. TTie acquisition of the facility’s 359 acres will provide an extension of at least 25 years to the mineral reserves of Morie Company’s New Jersey opera tion and will allow additional penetration into the commercial sand and gravel market in southern New Jersey. The diversity of sand and gravel products now available has allowed Morie Company to expand Us Northeast markets to a broader range of customers. Morie Company operates nine plants in New Jersey, Georgia, Alabama and Tennessee. According to a recent survey published by the U.S. Department of the Interior, ’ the Morie industrial sapd and gravel operation is the fourth largest:in the United States, producing a variety <rf products for end-user markets such as glass manufacturers,, water filtration plants, steel mills, .foundries and recreational facilities.