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Vol.20No.29 mi w... c~». »» ..n, )uly18, 1984 rfgS^tr^tSVrS?''''""" '

Midlantic National Bank ; ; x

Two Banks Slug It Out

\ THE FIRST NATRNAIIAMK Of TOM* WVOB *.J. I

By JOE ZELNIK The newest bank in^Cape May County,, Midlantic Banks Inc. of Edison, is trying to acquire 25 percent of the voting shares of the second newest bank in the county, Statewide Bancorp, parent ^organization of the First National Bank of Toms River. In objections filed with the Federal Reserve Board, Statewide Bancorp has said the "possibly unlawful proposal" by Midlantic is an attempt "to satisfy its apt

parent voracious appetite for expansion by acquisition in the state of New Jersey " Such an acquisition, it said, "would have significantly adverse competitive effects in the Cape May banking market ..." Joseph W. Robertson, president of Statewide Bancorp, told the Herald and Lantern that no individual shareholder currently has more than 5 percent of Statewide stock and Midlantic, if suc-

cessful. would get a controlling interest •THAT WOULD PUT a stake cut in the hands of Midlantic." said Robertson "They could be against our mergers and acquisitions; they could stop us from expanding." "We would not have control." responded Frank Garnevicus, senior vice president and treasurer of Midlantic. "We'd be their largest stockholder."

In its 32-page letter of objections to the proposal. Statewide Bancorp quoted a June 8 Midlantic letter saying its goal is "inducing Statewide's management to negotiate a merger "We're very interested in that bank. Garnevicus told the Herald and Lantern "We think it would make a very good addi tion to the Midlantic system Hopefully we can convince them Midlantic has been trying unsuccessful (Page 18 Please)

LaBounty Exits; Says Track Alive By JOE ZELNIK WOODBINE — Jack LaBounty, president of the firm that hopes to bring a major sportscar road racing facility to this borough, intends to move in six weeks to St. Croix in the Virgin Islands to purchase

and manage a hotel. LaBounty, president of Cape Motorsport Promotions Inc., said he would commute between the two positions and this,would "in no way affect anything we're doing with Woodbine. We intend putting a general manager, already selected, up there." LaBounty s mid-June move from his home in Stone Harbor to his wife's parents' home in Neptune, 90 miles north, had fanned rumors that Cape Motorsport, awash in problems, had sunk In a telephone interview Monday, LaBounty denied it. "WE'RE STILL in good shape for a construction start in early to late October," he said. LaBounty was due to meet yesterday with his financial backer, Equity Mortgage Investment Co. of Philadelphia, followed by a session last night with the Woodbine Port Authority which is leasing Motorsport 265 of its 748 acres at the Woodbine Airport. y~La Bounty said the authority meeting — "would probably be in executive (closed) session anyway" and unlikely to produce any announcement at this time. "This project is more alive now than it ever has been," he said. "We will be pro(Pagel8 Please) News— ^ — r\ | Qp Q* Week's LJIgCai Top Stories Woodbine Wanting WOODBINE — State Board of Education officials denied certification to the WoocWine School District and six of the 112 school districts in New Jersey last week. Those districts have one year to correct deficiencies reportea by state inspectors before they can qualify for certification. Inspectors examined 51 specific areas in each district. Woodbine, which operates one elementary school, was found wanting in 14 of them including problems with long-range planning, facilities, basic skills, professional staff and affirmative action. Above Average TRENTON — Most of the county 's secondary school students exceeded state averages on Minimum Basic Skills tests for math and reading state educators reported last week. Only sophomores at Lower Cape May Regional District fell below the mark. On the tougher High School Proficiency Test, local students | generally surpassed those in other state districts but Middle Township High 1 School students beat the statewide average in all categories tested — reading, math and writing. Going Union COURT HOUSE — Non-professional ' employes of Burdette Tomlin Memorial < ^ "^Pege 18 Please)

t J f u ■Me ' A "WOW THAT'S COLD!" — Walls Hill and daughter Colleen. 5. found two inches of the ocean quite enough last week. They're from Ridley Park, Pa., vacationing in Stone Harbor. *

'Upwelling' a Downer Ocean Chills Tourists

Along the shore in p6pe May County, the sound of the Ki-ki bird echoes "Ki-ki!" "Ki-ki!" "Ki-ki, ki-rying out loud it's cold!" Water temperatures have been iO to 15 degrees colder than normal since the Fourth of July, discouraging bathers and also bringing down air temperature. The U.S. Weather Service calls it an "upwelling," but it's definitely a downer for tourists paying a hundred bucks a night Only masochists have been taking earlymorning swims. » / THE SEASON report eoly started with a record Memorial Day weekend, stayed at a terrific peak through June, sources said. But a mid-week Fourth of July hurt, I

followed by. rates going up. water temperature going down, and tourist ^business falling off They still keep coming, as any motorist can testify, but some are shortening their vacations, or wondering why they're here Local businessmen have their fingers crossed that the Canadians, who prefer the second half of July and first half of August, won't disappoint them. ACCORDING TO Wayne Roop of Cold Spring, an observor with the National Weather Service, water temperature should average 73 degrees in July, 74 degrees in August. Last week there were days of 54 and 55 degree ocean water and the beaches were (Page 18 Please) t I I

Cadmium Found In Water By K.J. DUFFY C REST~H A V E N — County health ol ficials were still withholding Monday a study of local water pollution that shows IK of 67 test sites were contaminated with cadmium when samples were tested last year Excessive levels of another heavy metal, lead, were detected in (our ol the IK sites, all of them in Lower Township, by two Stockton State College seniors who conducted the ground and surface water survey for the countyEnvironmentalist Ruth Fisher criticized Thursday the results of the overdue and still preliminary Health Department report As president of Citizens' Association lor Protection of 'he Environment ■ (' A P E Fisher asked county freeholders to com mission the study several years ago She and others suspect a link between chemical contamination of the environment and a cluster of 1980 birth delects, mainly in Lower Township Fisher complained in April that Clay ( Sutton, county Health Department en vironmental program administrator pro mised her a copy of the report by mid March. It was then that Sutton wrote Freeholder Gerald Thornton, who oversees the Health Department, to in form him that he had denied Fisher a copy * of the report and that its delay was caused by testing equipment failure ON APRIL 2. Sutton said the report would be released "very soon." perhaps during a press conference with his boss Louis J I,a manna. county health officer As of Monday, the report was still pending official release. Fisher purchased a copy of it early this month for SI6 According to a February summary ol the report prepared by Sutton for Thorn toq, "there were no great surprises in the (Page 15 Please) ■ inside,.. ( AVALON police had a busy week /'age » y A LADY changed her mind and the walk to the Windnft stayed short Page 5 I NEVER MIND NOW h. >w about the latest ' with Supemow? Page 5b EVERYTHING you ever wanted to know . about Cape May County's ret reatnin.it ■ waters and never dared to ask Page b5