FALL RIVER GAS CO
10-K/A, 1999-01-21
NATURAL GAS DISTRIBUTION
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<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549
                                   FORM 10-K/A

/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
ACT OF 1934 (FEE REQUIRED) 

                  For the fiscal year ended September 30, 1998
                                       OR

/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (NO FEE REQUIRED)

                                                    Commission File Number 0-449

                             FALL RIVER GAS COMPANY
                             ----------------------
             (Exact name of Registrant as specified in its charter)

         MASSACHUSETTS                                    04-1298780
         -------------                                    ----------
   (State or other jurisdiction of                     (I.R.S. Employer
    incorporation or organization                      Identification No.)

  155 NORTH MAIN STREET, FALL RIVER, MASSACHUSETTS       02720
  ------------------------------------------------       -----
    (Address or principal executive offices)          (Zip Code)

Registrant's telephone number, including area code     (508) 675-7811
                                                       --------------

Securities registered pursuant to Section 12 (b) of the Act:

<TABLE>
<CAPTION>

                                                  Name of each exchange on
         Title of each class                          which registered      
         -------------------                      -------------------------
<S>                                               <C>
Common Stock par value $.83 1/3 per share         American Stock Exchange 

</TABLE>


Securities registered pursuant to Section 12 (g) of the Act:

         COMMON STOCK PAR VALUE $.83 1/3 PER SHARE
         -----------------------------------------
                      (Title of Class)

     Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

                                     Yes  X  No     .
                                         ---    -----

     Indicate by check mark if disclosures of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by references in Part III of this Form 10-K or any amendment to
this Form 10-K. [ ]

     The aggregate market value of the voting stock held by non-affiliates of
the Registrant (1,918,928) shares was $33,160,995 as of December 14, 1998 of
$17.281.

     Indicate the number of shares outstanding of each of the Registrant's
classes of the latest practicable date.

<TABLE>
<CAPTION>

          Class                              Outstanding at December 14, 1998
          -----                              --------------------------------

<S>                                          <C>      
Common Stock, $.83 1/3 par value                       2,193,912
</TABLE>

Documents incorporated by reference:

     Definitive Proxy Statement dated December 14, 1998 (Part III)


<PAGE>






                     FALL RIVER GAS COMPANY AND SUBSIDIARY          SCHEDULE VII

                 VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

                        FOR YEAR ENDED SEPTEMBER 30, 1998

<TABLE>
<CAPTION>

                                          ADDITIONS                    DEDUCTIONS
                                     ----------------------   ------------------------
                       Balance at    Charges to    Charges     Charges for                    Balance at
                       Beginning     Costs and     to Other   Which Reserves                    End of
Description            of Period     Expenses      Accounts    Were Created      Other          Period
- -----------            ----------    ---------     --------    ------------      -----        ----------
<S>                    <C>           <C>           <C>         <C>               <C>          <C>
Allowance for
 doubtful accounts      $907,357      $473,500          -       $472,625          ($48,916)    $957,148
                       ---------     ---------     ---------   ---------         ----------   ---------

</TABLE>



                        FOR YEAR ENDED SEPTEMBER 30, 1997

<TABLE>
<CAPTION>

                                             ADDITIONS                       DEDUCTIONS      
                                       --------------------------     -----------------------
                      Balance at                         Charges       Charges for                        Balance at
                      Beginning        Costs and         of Other      Which Reserves                       End of
 Description            of Period       Expenses         Accounts      Were Created     Other               Period  
- ------------          -----------      ---------         --------     ---------------   -----            -----------
<S>                   <C>              <C>               <C>           <C>              <C>              <C>
Allowance for
 doubtful accounts     $670,038         $761,500              -        $563,691          ($39,510)        $907,357
                      ---------        ---------         ---------    ---------         ----------       ---------

</TABLE>


                        FOR YEAR ENDED SEPTEMBER 30, 1996


<TABLE>
<CAPTION>

                                              ADDITIONS                      DEDUCTIONS
                                       --------------------------      ----------------------


                      Balance at       Charges to        Charges       Charges for                   Balance at
                      Beginning        Costs and         to Other      Which Reserves                  End of
Description             of Period       Expenses         Accounts      Were Created      Other         Period    
- -----------           -----------      ----------        --------      ------------      -----       ------------

<S>                   <C>              <C>               <C>           <C>              <C>          <C>
Allowance for
 doubtful accounts     $686,650         $411,500               -        $456,348        ($28,235)     $670,038
                      ---------        ---------         ---------     ---------        ----------    ---------

</TABLE>




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