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Previous: COLUMBIA GAS SYSTEM INC, 35-CERT/A, 1996-08-30 |
Next: COLUMBIA GROWTH FUND INC, NSAR-A, 1996-08-30 |
<PAGE> 1
August 29, 1996
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC 20549
Interim Report Under Rule 24 of the
Public Utility Holding Company Act of 1935
The Columbia Gas System, Inc. ("CG")
TriStar Ventures Corporation ("TVC")
File No. 70-8235
Gentlemen:
In accordance with the terms and conditions of Rule 24 under
the Public Utility Holding Company Act of 1935, and the Orders of the
Commission dated December 29, 1994 (the "Orders") authorizing transactions as
more fully described in the Application-Declaration as amended (the
"Application"), the undersigned hereby certifies that during the period from
January 1, 1996 through June 30, 1996, in accordance with the undertaking
contained in the Application, TriStar Ventures Corporation(TVC) hereby delivers
the following information required semiannually:
1. A balance sheet as of 6/30/96.
2. An income statement for the six months ended 6/30/96.
3. A Statement of Cash Flow for the six months ended 6/30/96.
4. A narrative description of preliminary development and
administrative activities and the size, nature and purpose of
any new, direct or indirect, investment activity.
5. A Schedule of Common Stock issued and dividends paid for the
six months ended 6/30/96.
6. A Schedule of Short Term Advances and Capital Contributions
for the six months ended 6/30/96.
7. A Schedule of Canceled Debt by TVC for the TVC Subsidiaries
for the six months ended 6/30/96
Very truly yours,
THE COLUMBIA GAS SYSTEM, INC.
By: /s/ L. J. Bainter
--------------------
L. J. Bainter
Treasurer
TRISTAR VENTURES CORPORATION
By: /s/ D.P. Detar
---------------------------
D. P. Detar
Treasurer
<PAGE> 2
Item B-1
TRISTAR VENTURES CORPORATION
CONSOLIDATED BALANCE SHEET
AS OF JUNE 30, 1996
($000)
<TABLE>
<S> <C>
ASSETS AND OTHER DEBITS
INVESTMENT
Other Investments $ 28,248
----------
TOTAL INVESTMENTS 28,248
----------
CURRENT AND ACCRUED ASSETS
Cash 0
Cash - Temporary Investments 4,646
Accounts Receivable 1,286
Accounts Receivable from Associate Companies 13,555
Prepayments 29
----------
TOTAL CURRENT AND ACCRUED ASSETS 19,516
----------
OTHER ASSETS
Other Assets - Deferred Debits 588
Deposits 664
Accumulated Deferred Income Taxes 0
----------
TOTAL OTHER ASSETS 1,252
----------
TOTAL ASSETS AND OTHER DEBITS $ 49,016
==========
LIABILITIES AND EQUITY
EQUITY
Common Stock Issued $ 15,293
Miscellaneous Paid-in Capital 42,802
Unappropriated Retained Earnings (17,197)
----------
TOTAL EQUITY 40,898
----------
CURRENT AND ACCRUED LIABILITIES
Accounts Payable 385
Accounts Payable to Associate Companies 0
Taxes Accrued 801
Interest Accrued 306
Miscellaneous Current and Accrued Liabilities 1,729
----------
TOTAL CURRENT AND ACCRUED LIABILITIES 3,221
----------
DEFERRED CREDITS - OTHER 119
ACCUMULATED DEFERRED INCOME TAXES 4,778
----------
TOTAL LIABILITIES AND EQUITY $ 49,016
==========
</TABLE>
<PAGE> 3
Item B-2
TRISTAR VENTURES CORPORATION
CONSOLIDATED INCOME STATEMENTS
FOR THE SIX MONTHS ENDED JUNE 30, 1996
($000)
<TABLE>
<S> <C>
INCOME
Income from Investments $ 3,428
Interest Income 382
Services Rendered to Nonassociate Companies 951
----------
TOTAL INCOME 4,761
----------
EXPENSES
Salaries and Wages 738
Office Supplies and Expenses 100
Relocation & Severance 1,453
Outside Services Employed 326
Injuries and Damages Insurance 10
Employee Pensions and Benefits 154
Rents 175
Depreciation and Amortization Expense 20
Taxes Other Than Income Taxes 73
Income Taxes 173
Provision for Deferred Income Taxes 494
Other Deductions 0
----------
TOTAL EXPENSES 3,716
----------
NET INCOME $ 1,045
==========
</TABLE>
<PAGE> 4
Item B-3
TRISTAR VENTURES CORPORATIONS
CONSOLIDATING STATEMENT OF CASH FLOW
FOR THE SIX MONTHS ENDED JUNE 30, 1996
($000)
<TABLE>
<S> <C>
NET CASH USED FOR OPERATIONS (see below) $ (1,441)
INVESTMENTS ACTIVITIES
Deposits - Other (664)
Distributions from Partnerships 11,265
----------
NET INVESTMENT ACTIVITIES 10,601
FINANCING ACTIVITIES 0
INCREASE(DECREASE) IN CASH AND TEMPORARY CASH INVESTMENTS 9,160
----------
CASH AND TEMPORARY CASH INVESTMENTS AT
BEGINNING OF YEAR 8,994
CASH AND TEMPORARY CASH INVESTMENTS AT
06/30/96 $ 18,154
==========
CASH PROVIDED BY/USED FOR OPERATION:
Net Income $ 1,045
Items not Requiring Cash:
Amortization 20
Deferred Income Taxes 494
Other - Net (1,925)
Net Change in Working Capital (1,075)
----------
NET CASH USED FOR OPERATIONS $ (1,441)
==========
</TABLE>
<PAGE> 5
Item B-4
TRISTAR VENTURES CORPORATION
DEVELOPMENT AND ADMINISTRATIVE ACTIVITIES
AND INVESTMENT ACTIVITY
FOR THE SIX MONTHS ENDED JUNE 30, 1996
(A) PRELIMINARY DEVELOPMENT:
Preliminary development activities include the initial research
conducted by internal personnel with the assistance of external
consultants. This activity is being incurred to analyze the feasibility
of various investment opportunities. One project has progressed from
the initial research stage and is described below under (C).
(B) ADMINISTRATIVE ACTIVITIES:
Administrative activities include the ongoing personnel, accounting,
engineering, legal, financial, and other support activities necessary
for TVC to manage its operations and investments.
(C) THE SIZE, NATURE AND PURPOSE OF ANY NEW, DIRECT OR INDIRECT INVESTMENT
ACTIVITY:
A potential cogeneration project has moved to the Due Diligence stage.
It is a 28.5 MW plant which will sell capacity and energy to
Consolidated Edison Company of New York and thermal energy to the New
York City Housing Authority. TriStar Ventures Corporation will be a 50%
owner in the project. Through 6/30/96, TriStar has deposited $664,000
of good faith money which is refundable if the project does not proceed.
<PAGE> 6
Item B-5
TRISTAR VENTURES CORPORATION
COMMON STOCK AND DIVIDENDS
FOR THE SIX MONTHS ENDED JUNE 30, 1996
(A) ISSUANCE AND SALE OF COMMON STOCK BY THE TVC SUBSIDIARIES TO TVC
TVC Subsidiary Date Amount
-------------- ---- ------
None
(B) THE PAYMENT OF ANY DIVIDENDS TO TVC BY THE TVC SUBSIDIARIES OUT CAPITAL
SURPLUS
TVC Subsidiary Date Amount
-------------- ---- ------
None
<PAGE> 7
Item B-6
TRISTAR VENTURES CORPORATION
SHORT TERM ADVANCES AND CAPITAL CONTRIBUTIONS
FOR THE SIX MONTHS ENDED JUNE 30, 1996
($000)
SHORT TERM ADVANCES
<TABLE>
<CAPTION>
SHORT TERM ADVANCES 1/31/96 2/28/96 3/31/96 4/30/96 5/31/96 6/30/96
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Pedrick General 6 0 0 0 0 0
Pedrick Limited 15 0 0 0 0 0
Rumford 0 0 0 0 0 0
Binghamton General 0 0 0 0 0 0
Binghamton Limited 0 0 0 0 0 0
Vineland General 0 0 0 0 0 0
Vineland Limited 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ----------
TOTAL SHORT TERM ADVANCES 21 0 0 0 0 0
========== ========== ========== ========== ========== ==========
</TABLE>
CAPITAL CONTRIBUTIONS
None
<PAGE> 8
Item B-7
TRISTAR VENTURES CORPORATION
CANCELED DEBT
FOR THE SIX MONTHS ENDED JUNE 30, 1996
($000)
<TABLE>
<CAPTION>
AMOUNT
AMOUNT AUTHORIZED
TVC SUBSIDIARIES DATE CANCELED IN APPLICATION
---------------- ---- -------------- --------------
<S> <C> <C> <C>
$ $
None
-------------- --------------
$ 0 $ 0
============== ==============
</TABLE>
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