The New Jersey Symphony Orchestra, which has been hit in recent years by deficits and a national scandal involving financier Herbert Axelrod’s sale to the orchestra of a collection of valuable string instruments, has announced a surplus for the 2004-05 season, and increases in ticket revenue and donor giving. “But the orchestra is not clear of its primary threat: a debt load of about $19 million, composed of a $3.6 million line of credit it has not paid down in three years, and the balance owed on bonds and notes payable to creditors for the instruments. The orchestra restructured its debt to pay interest only for nine months last season, saving about $780,000 in cash… In all, the orchestra has made headway, but the financial report showed a seesaw of good and bad news.”