business

New Site For Ris Galleries

STONE HARBOR - After 14 years at 98th Street and Second Avenue, the William Ris Galleries will relocate this year — just a few blocks away — in a new building now under construction on the east side of Second Avenue at 94th Street across from Mimi's and the WaWa Market. There will be other familiar names, including the EMJAY Shop, in the new shopping area. It is planned to open the

new Stone Harbor Gallery 1 on Memorial Day 1 Weekend. 1985. with the ( permanent Stone Harbor/Avalon staff of Edward Crippen. Rita Eckert. Barbara Blake and Jane McGrath. Meantime, a new satellite gallery is operating in the newly expanded and refurbished Golden Inn Hotel and Conference Center at 78th Street and Oceanfront. Avalon. The 1985 Calendar of Ex-

hibitions at both the Stone Harbor and Avalon Galleries features the newworks of: Richard Christian. David Coolidge. Shawn Hennesy. Del Noce. Bruce Johnson. Mildred Sands Kratz. Joyce Marks. Carol Sebold, Pearl Slobodian, Donald Sneeder. Erna Tunno. Ineke Van Werkhoven. Howard Watson. Clifford Winner and A. Wyeth. In the planning stage for summer is the second print signing reception featuring Peter Sculthorpe. Another highlight for the summer will be the addition of original watercolors and oils by Carolyn Blish.

S-JI Head Honored

FOLSOM - William F. Ryan, president and chief executive officer of South Jersey Industries, Inc.. was honored as Industrialist of the Year by New Jersey Living magazine during a reception Jan. 24 at the Scan - ticon in Princeton. The Don Quixote Awards, presented by New Jersey Living, are award-

ed to people who have reached the top of their professions. In Ryan's case, he presides over a $321 million company that is expanding rapidly. Under Ryan's direction. SJI has grown, prospered and diversified from primarily a natural gas distribution company to an energy and natural resource management company.

Income Averaging

NEWARK — New rules will make it harder to qualify for income averaging. the Internal Revenue Service says. Although this special method of figuring the tax w ill still help those who have had a big increase in income. The Tax Reform Act of 1984 makes two restrictive changes, the IRS warns. Previously, income for the current year had to exceed 120 percent of the average income for the prior four years by $3,000 befor the taxpayer could benefit from income averaging. Beginning in 1984. the current year's in1984, the current year's in

come has to exceed 140 percent of the average income for the prior three years by $3,000 to qualify for this break. For example. John had the following taxable income: 1980, $22,000; 1981. $25,000. 1982. $27,000; and 1983. $32,000. Under the old rules. John's taxable income would have to be over $34,800 to use income

averaging in 1984. With the new law. however, this 1984 taxable income must exceed $42,200 for John to income average. Schedule G is still used to figure the amount. The free IRS Publication 506. "Income Averaging." has more details on the qualifications and com- ' putations involved. It is available by using the order blank in the back of your tax package, and is also available as reference for reading or photocopying at many public libraries.

New Dept. COURT HOUSE - Sturdy Savings and Loan Association has introduced a special checking account department at its office. John Armour, president, said expanded facilities at the office will "enable us to further meet the needs of our customers with convenient services." The Court House office features interest earning checking as well as a direct information line which customers can use if they have questions about their accounts. The special checking account department telephone number is 465-2264. Deborah Yoast, assistant secretary of the assocation and manager of the checking department, has been joined by Joyce Hoffman and Judy Cronin to staff the new department. The office at Route 9 and Hand Avenue is open 9 a.m. -4 p.m.. Monday through Friday and 9 a m -noon Saturdays

Earnings Up At Horizon MORRISTOWN - Horizon Bancorp reported net income for the year ended Dec. 31. 1984. was $26,580,000. which is 41 percent higher than the $18,805,000 for 1983. On a per share basis, net income was $2.97. up 9 percent from $2.72 in 1983 Net income for the fourth quarter of 1984 was $6,466,000 down 15 percent from the $7,570,000 reported in 1983. Net income per, common share was $0 70. down 20 percent from $0.87 for the prior year. However, last year's fourth quarter earnings included the profit from the sale of Horizon Credicorp. If adjusted for this nonrecurring item, fourth quarter earnings per share were the same for both years.

AGRICULTURE HUDDLE — At banquet for State Agricultural Convention delegates in Cherry Hill are. left to right. Arthur R. Brown Jr.. state secretary of agriculture: Jamie Startare. Cape May County 4-H Fair Queen, from Dias Creek, and Leslie C. Rea of West Cape May. president of county board of agriculture.

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Now there are 7 offices in the business of making your money make money. main office 225 n main st cape may courthouse 465-5600 branch offices 217 jackson stcape may 8840900 3301 atlantic avenue wildwood522-2447 1880 bayshore road villas 886-2773 40 s shore road mamora 3903500 301 asbury avenue ocean city 398-7400 rts 9 and 47 rio grande 886-0600

CMCS&L

FSLIC

cape May county savings & Loan Association