SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of earliest event reported: December 3, 1996
SOUTH JERSEY INDUSTRIES, INC.
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(Exact name of registrant as specified in charter)
New Jersey 1-6364 22-1901645
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(State or other (Commission (IRS Employer
Jurisdiction File Number) Identification No.)
of Incorporation
Number One South Jersey Plaza, Route 54, Folsom, NJ 08037
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(Address of principal executive offices)
(609) 561-9000
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(Registrant's telephone number, including area code)
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No Exhibits are required with this Report
and there is no Exhibit Index
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Item 2. Acquisition or Disposition of Assets
On December 3, 1996, Energy & Minerals, Inc., a
subsidiary of South Jersey Industries, Inc. (SJI), sold the
common stock of The Morie Company, Inc. (Morie), its sand
mining and processing subsidiary, to Unimin Corporation in a
cash transaction for approximately $55.3 million. The sale
price is subject to customary post-closing adjustments to be
determined after the date of sale. The book values of assets
sold, based on Morie's balance sheet at September 30, 1996,
were as follows (in thousands):
Net Current Assets $11,535.7
Property & Equipment, net 16,302.6
Other 4.7
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$27,843.0
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Part of the proceeds was used to redeem subsidiary debt,
including $9.0 million of 9.66% Senior Notes and a 7% bank
note of $1.984 million. The remaining proceeds will be used
for corporate purposes, including investments, reduction of
short-term debt and payment of taxes. SJI's financial
statements have included Morie as discontinued operations
since June 30, 1996. Income from discontinued operations for
the nine months ended September 30, 1996 amounted to
approximately $2.1 million. SJI's consolidated net income
for the same period amounted to $12.1 million. SJI's
consolidated total assets at September 30, 1996 and December
31, 1995 amounted to $595.7 million and $604.3 million,
respectively.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.
Dated: December 12, 1996
SOUTH JERSEY INDUSTRIES INC.
By /s/ George L. Baulig
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George L. Baulig
Treasurer and Secretary
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