PAGE 1 OF 11
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of
NATIONAL FUEL GAS COMPANY EIGHTH
NATIONAL FUEL GAS DISTRIBUTION CORPORATION CERTIFICATE
NATIONAL FUEL GAS SUPPLY CORPORATION PURSUANT TO
PENN-YORK ENERGY CORPORATION RULE 24
SENECA RESOURCES CORPORATION
EMPIRE EXPLORATION, INC.
UTILITY CONSTRUCTORS, INC.
HIGHLAND LAND & MINERALS, INC.
LEIDY HUB, INC. (FORMERLY ENEROP CORPORATION)
DATA-TRACK ACCOUNT SERVICES, INC.
NATIONAL FUEL RESOURCES, INC.
File No. 70-7894
(Public Utility Holding Company Act of 1935)
THIS IS TO CERTIFY, pursuant to Rule 24, that certain
transactions proposed by National Fuel Gas Company ("National") and
its subsidiaries, National Fuel Gas Distribution Corporation
("Distribution Corporation"), National Fuel Gas Supply Corporation
("Supply Corporation"), Penn-York Energy Corporation ("Penn-York"),
Seneca Resources Corporation ("Seneca"), Empire Exploration, Inc.
("Empire"), Utility Constructors, Inc. ("UCI"), Highland Land &
Minerals, Inc. ("Highland"), Leidy Hub, Inc. (on December 29, 1993
Enerop Corporation formally changed its name to Leidy Hub, Inc.
("Leidy)"), Data-Track Account Services, Inc. ("Data-Track") and
National Fuel Resources, Inc. ("NFR") in Form U-1,
Application-Declaration, File No. 70-7894, as amended, have been
carried out in accordance with the terms and conditions, and for the
purposes as represented by said Application-Declaration, and the
Order of the Securities and Exchange Commission (HCAR No. 35-25439
dated December 23, 1991) with respect thereto, in that, during the
quarter ended December 31, 1993:
1. Sales and resales of commercial paper for the quarter
are shown on the attached certificates of Merrill Lynch
Money Markets, Inc. and Chase Securities, Inc.
2. National increased its outstanding borrowings by
issuing and selling short-term notes in the following
amounts to Chase Manhattan Bank, N.A., or other banks
or financial institutions as listed in the
Application-Declaration on the dates and at the rates
indicated below. The proceeds from the sales of these
notes were either used by National for its own
corporate purposes or transferred by National to the
System Money Pool to be utilized by National's
subsidiaries. This schedule also reflects renewals at
different rates.
PAGE 2 OF 11
- 2 -
DATE AMOUNT RATE
10/4/93 $ 4,000,000 3.22%
10/5/93 6,900,000 3.25
10/6/93 5,000,000 3.265
10/6/93 6,500,000 3.22
10/6/93 5,000,000 3.26
10/7/93 4,300,000 3.18
10/8/93 4,800,000 3.09
10/12/93 14,700,000 3.28
10/13/93 8,200,000 3.25
10/14/93 6,800,000 3.25
10/14/93 2,300,000 3.15
10/14/93 5,000,000 3.15
10/15/93 1,700,000 3.15
10/18/93 10,000,000 3.28
10/18/93 7,200,000 3.18
10/19/93 6,200,000 3.16
10/19/93 10,000,000 3.28
10/20/93 8,300,000 3.08
10/21/93 5,600,000 3.10
10/22/93 10,000,000 3.45
10/22/93 7,500,000 3.27
10/25/93 8,800,000 3.27
10/25/93 10,000,000 3.27
10/26/93 11,800,000 3.29
10/27/93 13,400,000 3.26
10/28/93 2,600,000 3.18
10/29/93 13,400,000 3.20
10/29/93 10,000,000 3.52
11/1/93 9,400,000 3.32
11/1/93 10,000,000 3.50
11/2/93 7,700,000 3.24
11/3/93 8,600,000 3.19
11/4/93 5,000,000 3.19
11/5/93 6,900,000 3.12
11/8/93 11,300,000 3.21
11/9/93 2,400,000 3.19
11/10/93 4,800,000 3.21
11/12/93 5,000,000 3.17
11/15/93 7,200,000 3.40
11/15/93 5,000,000 3.58
11/16/93 2,300,000 3.27
11/17/93 500,000 3.21
11/22/93 5,000,000 3.20
11/23/93 5,100,000 3.58
11/23/93 10,000,000 3.58
11/24/93 10,400,000 3.20
11/24/93 10,000,000 3.58
11/24/93 3,000,000 3.58
PAGE 3 OF 11
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11/26/93 8,400,000 3.15
11/29/93 10,700,000 3.27
11/30/93 7,000,000 3.59
11/30/93 8,600,000 3.33
12/1/93 2,500,000 3.21
12/2/93 1,700,000 3.21
12/3/93 7,500,000 3.59
12/3/93 1,900,000 3.14
12/6/93 8,300,000 3.21
12/7/93 7,000,000 3.14
12/7/93 10,000,000 3.60
12/8/93 300,000 3.14
12/10/93 600,000 3.10
12/13/93 8,300,000 3.14
12/13/93 12,000,000 3.38
12/13/93 5,000,000 3.55
12/14/93 5,200,000 3.14
12/14/93 6,000,000 3.50
12/15/93 4,700,000 3.21
12/16/93 6,000,000 3.14
12/17/93 10,000,000 3.34
12/17/93 8,000,000 3.31
12/20/93 12,300,000 3.35
12/21/93 2,800,000 3.15
12/22/93 10,000,000 3.20
12/22/93 17,300,000 3.35
12/23/93 8,200,000 3.15
12/23/93 10,000,000 3.41
12/24/93 7,800,000 3.15
12/27/93 10,000,000 3.38
12/27/93 12,500,000 3.41
12/28/93 7,600,000 3.27
12/29/93 4,700,000 3.21
12/30/93 9,500,000 3.14
12/30/93 5,000,000 3.40
12/30/93 5,000,000 3.42
12/31/93 2,800,000 3.40
3. Supply Corporation transferred the following amounts to
the System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
None.
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4. Supply Corporation borrowed the following amounts from
the System Money Pool on the dates and at the rates
indicated below [Please note certain September 1993
borrowings were inadvertently omitted from the previous
Certificate.]:
DATE AMOUNT RATE
9/14/93 $ 600,000 3.297%
9/15/93 200,000 3.298
9/16/93 500,000 3.296
9/20/93 100,000 3.295
9/21/93 900,000 3.292
9/22/93 300,000 3.297
9/24/93 400,000 3.285
9/28/93 300,000 3.289
9/30/93 17,600,000 3.291
10/4/93 400,000 3.284
10/6/93 900,000 3.287
10/8/93 200,000 3.282
10/12/93 600,000 3.283
10/13/93 400,000 3.287
10/14/93 3,200,000 3.284
10/15/93 1,200,000 3.284
10/18/93 1,000,000 3.282
10/19/93 800,000 3.279
10/20/93 300,000 3.275
10/21/93 200,000 3.278
10/25/93 100,000 3.287
11/1/93 1,400,000 3.316
11/2/93 100,000 3.313
11/3/93 400,000 3.311
11/4/93 100,000 3.312
11/8/93 300,000 3.316
11/10/93 200,000 3.318
11/12/93 500,000 3.322
11/15/93 500,000 3.335
11/16/93 200,000 3.331
11/17/93 300,000 3.332
11/19/93 5,300,000 3.333
11/22/93 100,000 3.340
11/24/93 600,000 3.378
11/29/93 900,000 3.381
11/30/93 1,300,000 3.390
12/2/93 200,000 3.391
12/7/93 100,000 3.435
12/9/93 100,000 3.444
12/10/93 100,000 3.447
12/13/93 5,100,000 3.454
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12/14/93 300,000 3.461
12/15/93 1,200,000 3.464
12/16/93 800,000 3.461
12/17/93 100,000 3.471
12/20/93 2,000,000 3.466
12/23/93 100,000 3.458
12/24/93 200,000 3.459
12/27/93 400,000 3.471
5. Distribution Corporation transferred the following
amounts to the System Money Pool on the dates and at
the rates indicated below. These amounts were either
used to decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
None.
6. Distribution Corporation borrowed the following amounts
from the System Money Pool on the dates and at the
rates indicated below:
DATE AMOUNT RATE
10/5/93 $ 2,600,000 3.286%
10/8/93 200,000 3.282
10/14/93 7,300,000 3.284
10/15/93 100,000 3.284
10/18/93 4,600,000 3.282
10/20/93 1,200,000 3.275
10/22/93 3,100,000 3.288
10/25/93 18,400,000 3.287
10/27/93 1,400,000 3.291
10/29/93 12,900,000 3.303
11/1/93 1,200,000 3.316
11/24/93 21,600,000 3.378
11/30/93 1,900,000 3.390
12/3/93 3,700,000 3.419
12/20/93 11,600,000 3.466
12/22/93 15,000,000 3.460
12/23/93 8,500,000 3.458
12/27/93 3,600,000 3.471
12/30/93 14,500,000 3.460
7. Penn-York transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding system borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
None.
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8. Penn-York borrowed the following amounts from the
System Money Pool on the dates and at the rates
indicated below [Please note certain September 1993
borrowings were inadvertently omitted from the previous
Certificate.]:
DATE AMOUNT RATE
9/22/93 $ 200,000 3.297%
9/29/93 1,800,000 3.291
9/30/93 400,000 3.291
10/6/93 200,000 3.287
10/14/93 1,800,000 2.284
10/28/93 1,500,000 3.299
10/29/93 100,000 3.303
11/1/93 300,000 3.316
11/3/93 100,000 3.311
11/23/93 1,400,000 3.372
11/30/93 1,400,000 3.390
12/3/93 100,000 3.419
12/7/93 600,000 3.435
12/8/93 100,000 3.444
12/9/93 100,000 3.444
12/15/93 100,000 3.464
12/22/93 1,400,000 3.460
12/28/93 100,000 3.469
12/29/93 200,000 3.470
12/30/93 100,000 3.460
9. National transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
10/4/93 $1,400,000 3.16%
10/8/93 200,000 3.14
10/19/93 1,300,000 3.13
10/21/93 200,000 3.13
11/1/93 2,900,000 3.14
11/4/93 900,000 3.15
11/16/93 1,000,000 3.15
11/19/93 1,200,000 3.14
11/22/93 100,000 3.14
12/1/93 2,800,000 3.15
12/1/93 600,000 3.15
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12/6/93 800,000 8.46
12/13/93 3,700,000 3.35
12/16/93 400,000 3.35
12/17/93 700,000 3.33
12/20/93 1,200,000 3.32
12/23/93 100,000 3.31
10. National borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
11. Seneca transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
None.
12. Seneca borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
10/7/93 $ 100,000 3.285%
10/8/93 200,000 3.282
10/14/93 100,000 3.283
10/15/93 100,000 3.284
10/22/93 100,000 3.288
10/27/93 100,000 3.291
10/29/93 700,000 3.303
11/1/93 1,000,000 3.316
11/2/93 400,000 3.313
11/3/93 400,000 3.311
11/9/93 200,000 3.319
11/12/93 100,000 3.322
11/15/93 500,000 3.335
11/19/93 100,000 3.333
11/29/93 3,000,000 3.381
11/30/93 300,000 2.390
12/1/93 300,000 3.390
12/5/93 500,000 3.419
12/9/93 100,000 3.444
12/13/93 100,000 3.454
12/14/93 600,000 3.461
12/16/93 900,000 3.461
PAGE 8 OF 11
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12/17/93 500,000 3.471
12/20/93 1,000,000 3.466
12/22/93 100,000 3.460
12/24/93 100,000 3.459
12/27/93 600,000 3.471
12/28/93 100,000 3.469
12/30/93 3,900,000 3.460
In accordance with the terms of the Application-
Declaration (Item 5) and the Order of the Commission in
this proceeding dated December 23, 1991 (HCAR
No. 35-25439), attached as Exhibit A is a copy of
Seneca's Income Statement for the Three and Twelve
Months Ended December 31, 1993 and attached as Exhibit
B is a copy of Seneca's Balance Sheet at December 31,
1993.
13. Empire transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
None.
14. Empire borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
10/5/93 $ 200,000 3.286%
10/20/93 100,000 3.275
10/25/93 100,000 3.287
10/28/93 100,000 3.299
11/1/93 100,000 3.316
11/3/93 100,000 3.311
11/15/93 100,000 3.335
11/19/93 200,000 3.333
11/29/93 100,000 3.381
12/14/93 3,600,000 3.461
12/20/93 200,000 3.466
12/29/93 100,000 3.470
15. UCI transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
None.
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16. UCI borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below [Please note certain July and August 1993
borrowings were inadvertently omitted from the previous
Certificate.]:
DATE AMOUNT RATE
7/2/93 $200,000 3.324%
7/9/93 200,000 3.324
8/5/93 300,000 3.303
11/10/93 100,000 3.318
11/19/93 100,000 3.333
17. Highland transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
10/4/93 $ 500,000 3.16%
10/6/93 200,000 3.28
10/13/93 1,100,000 3.28
11/4/93 500,000 3.15
11/22/93 100,000 3.14
12/3/93 1,100,000 3.625
12/6/93 500,000 3.46
12/15/93 100,000 3.35
12/23/93 100,000 3.31
18. Highland borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
19. Enerop (Leidy, effective as of December 29, 1993)
transferred the following amounts to the System Money
Pool on the dates and at the rates indicated below.
These amounts were either used to decrease outstanding
System borrowings and/or commercial paper or utilized
by National's other subsidiaries.
None.
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20. Enerop (Leidy, effective as of December 29, 1993)
borrowed the following amounts from the System Money
Pool on the dates and at the rates indicated below:
None.
21. Data-Track transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
10/18/93 $500,000 3.14%
11/17/93 500,000 3.15
12/17/93 500,000 3.33
22. Data-Track borrowed the following amounts from the
System Money Pool on the dates and at the rates
indicated below:
None.
In accordance with the terms of the Application-
Declaration (Item 5) and the Order of the Commission in
this proceeding dated December 23, 1991 (HCAR
No. 35-25439), attached as Exhibit C is a copy of
Data-Track's Income Statement for Fiscal 1993, and
attached as Exhibit D is a copy of Data-Track's Balance
Sheet at September 30, 1993. Also attached as Exhibit
E is an analysis of the capital investments made by
Data-Track and the costs of the cost of collection
efforts and related benefits.
23. NFR transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
DATE AMOUNT RATE
10/1/93 $ 600,000 3.19%
10/4/93 500,000 3.16
10/5/93 300,000 3.16
10/6/93 600,000 3.28
10/7/93 800,000 3.30
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10/8/93 200,000 3.14
10/12/93 100,000 3.14
11/3/93 100,000 3.15
11/4/93 400,000 3.15
11/8/93 300,000 3.15
11/9/93 1,000,000 3.15
11/10/93 500,000 3.14
11/16/93 200,000 3.15
12/6/93 200,000 3.46
12/8/93 500,000 3.23
12/10/93 100,000 3.39
12/13/93 100,000 3.55
12/15/93 100,000 3.35
12/16/93 200,000 3.35
12/22/93 100,000 3.31
12/29/93 300,000 3.35
24. NFR borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
Dated: February 15, 1994 NATIONAL FUEL GAS COMPANY
By:/s/ Gerald T. Wehrlin
Gerald T. Wehrlin
Controller
Money Markets Origination
Debt Markets Group
World Financial Center
North Tower
New York, New York 10281-1323
212 449 1000
MERRILL LYNCH
January 5, 1994
Ms. Donna Cambas
National Fuel Gas Company
30 Rockefeller Plaza
New York, NY 10112
Dear Donna:
This is to advise you that in connection with the distribution of
commercial paper of National Fuel Gas Company from October 1, 1993 to
December 31, 1993 all sales and resales were made only to those customers
included on the Confidential List retained by Merrill Lynch Money Markets
Inc. for National Fuel Gas Company's commercial paper program, and the
sales thereof were in accordance with the provisions of that program. A
summary of all trade activity for the quarter is attached.
Sincerely,
/s/ E. Stewart Johnson
E. Stewart Johnson
Enclosure
ESJ:gkr
<PAGE>
PROGRAM ISSUANCE TRADE DETAIL - CP
10/01/93 - 12/31/93
Pgm Fx/F1 Trade Dt Sett Dt MTY DTM PAR Rate Proceeds
N1 10/07/93 10/07/93 11/10/93 34 5,000,000 3.300 4,984,417
N1 10/13/93 10/13/93 12/14/93 62 6,000,000 3.330 5,965,900
N1 10/27/93 10/27/93 01/20/94 85 9,000,000 3.320 8,926,688
N1 10/28/93 10/28/93 01/25/94 89 10,000,000 3.270 9,914,708
N1 11/23/93 11/23/93 01/21/94 59 2,000,000 3.270 1,988,200
N1 11/23/93 11/23/93 01/31/94 69 3,000,000 3.260 2,979,300
N1 12/14/93 12/14/93 02/04/94 52 6,000,000 3.500 5,969,667
TOTALS
______
Number of Trans: 7
Total Par 41,000,000
Total Proceeds 40,728,380
Dollar Weighted Averages
________________________
Days to Mty: 69.1
Rate: 3.435
Programs:
N1 NATIONAL FUEL GAS CO.
Chase Securities, Inc.
1 Chase Plaza, 35th Floor
New York, New York 10081
CHASE
January 6, 1994
Ms. Donna Cambas
National Fuel Gas Company
30 Rockefeller Plaza - Suite 4545
New York, New York 10020
Dear Ms. Cambas:
This is to advise you that in connection with the distribution of
commercial paper for the National Fuel Gas Company from October 1, 1993 to
December 31, 1993 all sales and resales on your behalf by Chase
Securities, Inc. were made only to those customers included in the
Confidential List retained by the corporation of National Fuel Gas
Company's commercial paper program. The issuance of National Fuel Gas
Company commercial paper and sales thereof were made in accordance with
the provisions of that program. A summary of all trade activity for the
quarter is attached.
Sincerely,
/s/ Anton J. Schubert
Anton J. Schubert
Vice President
Enclosure
cc: Mr. Ron Tanski
Chase Securities, Inc.
1 Chase Plaza, 35th Floor
New York, New York 10081
CHASE January 6, 1994
NATIONAL FUEL GAS COMPANY
Fourth Quarter Performance Report
PAR ISSUE MATURITY
AMOUNT DATE DATE RATE YIELD TERM TYPE
5,000,000 10/04/93 11/22/93 3.30 3.3149 49 Days Discounted
5,000,000 10/06/93 11/22/93 3.28 3.2943 47 Days Discounted
10,000,000 10/07/93 12/07/93 3.28 3.2986 61 Days Discounted
5,000,000 10/15/93 12/03/93 3.28 3.2949 49 Days Discounted
6,000,000 11/05/93 01/31/94 3.62 3.6565 87 Days Discounted
5,000,000 11/22/93 01/24/94 3.67 3.6935 63 Days Discounted
10,000,000 12/03/93 01/14/94 3.625 3.6406 42 Days Discounted
10,000,000 12/07/93 01/18/94 3.60 3.6151 42 Days Discounted
5,000,000 12/13/93 01/18/94 3.55 3.5626 36 Days Discounted
__________
61,000,000 = TOTAL
/s/ Anton J. Schubert
Anton J. Schubert, Vice President
SEC FILE NO. 70-7894
EXHIBIT A
SENECA RESOURCES CORPORATION
TOTAL COMPANY
INCOME STATEMENT
(INCLUDES 1986 FULL COST POOL ADJUSTMENT)
(Unaudited)
Three Months Ended Twelve Months Ended
DECEMBER 1993 DECEMBER 1993
__________________ ___________________
Operating Revenues $10,562,646 $45,066,420
----------- -----------
Operating Expenses:
Operation and Maintenance 3,248,012 13,613,663
Depletion, Depreciation & Amort. 4,178,931 17,364,571
Other Taxes 356,141 1,516,417
----------- -----------
7,783,084 32,494,651
----------- -----------
Operating Income 2,779,562 12,571,769
----------- -----------
Other Income 16,086 18,469
Other Deductions 853 5,150
----------- -----------
15,233 13,319
----------- -----------
Interest Income 19,076 49,186
Interest Expense 1,466,589 5,588,627
----------- -----------
(1,447,513) (5,539,441)
----------- -----------
Net Income Before
Income Taxes 1,347,282 7,045,647
----------- -----------
Income Taxes:
Federal (1,234,416) (3,254,692)
Deferred (1,016,038) (761,118)
----------- -----------
(2,250,454) (4,015,810)
----------- -----------
Net Income $3,597,736 $11,061,457
========== ===========
SEC FILE NO. 70-7894
EXHIBIT B PAGE 1 OF 2
SENECA RESOURCES CORPORATION
INCLUDES 1986 FULL COST POOL ADJUSTMENT
BALANCE SHEET
AT DECEMBER 31, 1993
(Unaudited)
ASSETS Total
- ------ -------------
Current Assets
Cash $2,276,473
Accounts Receivable-
Intercompany 648,135
Other 13,368,165
Allowance for Uncollectible Accounts (98,882)
Notes Receivable-
Intercompany 0
Materials and Supplies 81,694
Prepayments 1,128,437
Other Current Assets 175,000
-------------
Total Current Assets 17,579,022
-------------
Property, Plant and Equipment 330,627,720
Less: Accumulated Depreciation, Depletion
and Amortization 121,849,108
-------------
Net Property, Plant and Equipment 208,778,612
-------------
Other Assets
Other Assets 978,343
Deferred Charges 334,012
Notes Receivable 36,300
Long Term Investments 0
-------------
Total Other Assets 1,348,655
-------------
Total Assets $227,706,289
=============
SEC FILE NO. 70-7894
EXHIBIT B PAGE 2 OF 2
SENECA RESOURCES CORPORATION
INCLUDES 1986 FULL COST POOL ADJUSTMENT
BALANCE SHEET
AT DECEMBER 31, 1993
(Unaudited)
LIABILITIES AND STOCKHOLDERS' EQUITY Total
- ------------------------------------ -------------
Current Liabilities:
Accounts Payable-
Intercompany $306,398
Other 7,630,325
Notes Payable-Intercompany 37,500,000
Accrued Liabilities 1,834,148
Federal Income Taxes (3,140,003)
Other Accrued Taxes 60,260
-------------
Total Current Liabilities 32,962,792
-------------
Other Liabilities:
Accumulated Deferred Income Taxes 32,962,792
Other Deferred Credits 3,172,466
-------------
Total Other Liabilities 36,135,258
-------------
Stockholders' Equity:
Common Stock-$5 Par Value
Authorized-100,000 Shares; Issued and
Outstanding-100,000 Shares 500,000
Paid in Capital 92,245,000
Earnings Reinvested in the Business
(Accumulated Deficit) (25,365,097)
-------------
67,379,903
Advances from Associated Companies 80,000,000
Long-Term Debt 0
-------------
Total Capitalization 147,379,903
-------------
Total Liabilities and Stockholders Equity $227,706,289
=============
SEC FILE NO. 70-7894
EXHIBIT C
DATA-TRACK ACCOUNT SERVICES, INC.
INCOME STATEMENT
Twelve Months Ended
SEPTEMBER 1993
_____________
Operating Revenues $350,006
-------------
Operating Expenses:
Operation and Maintenance 342,612
Depletion, Depreciation & Amort. 269
Deferred Income Tax (4,173)
Other Taxes 3,663
-------------
342,371
-------------
Operating Income (Loss) 7,635
-------------
Other Income 0
Other Deductions 0
-------------
0
-------------
Interest Income 16,424
Interest Expense 0
-------------
16,424
-------------
Net Income (Loss) Before
Income Taxes 24,059
-------------
Income Taxes:
Federal 11,209
Deferred 0
-------------
11,209
-------------
Net Income (Loss) $12,850
=============
SEC FILE NO. 70-7894
EXHIBIT D PAGE 1 OF 2
DATA-TRACK ACCOUNT SERVICES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1993
ASSETS
- ------
Current Assets:
Cash $ 47,812
Accounts Receivable-
Intercompany 31,172
Other 0
Allowance for Uncollectible Accounts 0
Notes Receivable-
Intercompany 500,000
Other 0
Materials and Supplies 0
Prepayments 13
Other Current Assets 0
-------------
Total Current Assets 578,997
-------------
Property, Plant and Equipment 31,021
Less: Accumulated Depreciation, Depletion
and Amortization 830
-------------
Net Property, Plant and Equipment 30,191
-------------
Other Assets:
Other Assets 14
Deferred Charges 2,199
Notes Receivable 0
-------------
Total Other Assets 2,213
-------------
Total Assets $611,401
=============
SEC FILE NO. 70-7894
EXHIBIT D PAGE 2 OF 2
DATA-TRACK ACCOUNT SERVICES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1993
LIABILITIES AND STOCKHOLDERS' EQUITY
- -------------------------
Current Liabilities:
Accounts Payable-
Intercompany $ 11,313
Other 8,158
Notes Payable-Intercompany 0
Accrued Liabilities 99
Federal Income Taxes 12,011
Other Accrued Taxes 1,223
-------------
Total Current Liabilities 32,804
-------------
Other Liabilities:
Accumulated Deferred Income Taxes 667
Other Deferred Credits 6
-------------
Total Other Liabilities 673
-------------
Stockholders' Equity:
Common Stock-$1 Par Value
Authorized-1000 Shares; Issued and
Outstanding-1000 Shares 1,000
Paid in Capital 499,000
Earnings Reinvested in the Business
(Accumulated Deficit) 77,924
-------------
Total Capitalization 577,924
-------------
Total Liabilities and Stockholders Equity $611,401
=============
SEC FILE NO. 70-7894
EXHIBIT E
DATA-TRACK ACCOUNT SERVICES, INC.
Fiscal 1993 Activity Analysis
In fiscal 1993 (Twelve Months ended September 30,
1993), Data-Track Account Services, Inc. ("Data-Track")
continued to undertake collection activities on behalf of System
companies. The work was primarily done for the account of
National Fuel Gas Distribution Corporation ("Distribution"). In
addition to the activities directed at the collection of overdue
accounts ("Letter Series Activities"), Data-Track also commenced
a customer contact program addressing certain accounts that have
the potential to become uncollectible and to contact customers
who may be eligible for state assistance programs.
LETTER SERIES ACTIVITY - FISCAL 1993
(Unpaid Final Bills)
Number of Accounts Received from NFGDC 21,710
Value of accounts Received $7,416,930
Average Value of Accounts Received $341
Collection Letters Sent 39,269
Total Operating Costs $40,100
Total Dollars Collected $484,412
Collection Liquidation Percentage 6.5%
If the System had submitted the 21,710 accounts handled
by Data-Track directly to outside collection agencies at the
standard 1/3 contingency fee, the agency fees to collect the
amount recovered would have been $161,454. Data-Track was able
to recover the entire $484,412 at a total cost of $40,100. This
represents a savings to the System of $121,354 in collection
costs during fiscal 1993.
CUSTOMER CONTACT PROGRAM (OUTBOUND CALL CENTER)
During fiscal 1993, Data-Track initiated a computer
assisted dialing service on behalf of Distribution. The primary
objective of this service is to contact customers to advise them
of scheduled service terminations, defaulted arrangements,
past-due account balances and other special arrears programs.
Efficiencies are achieved by utilizing an autodial system to
eliminate manual dialing and listening to ringing, busy signals
and non-answer situations.
By addressing accounts before they become seriously
past-due, the System expects to decrease bad debt expenses.
Services are rendered to affiliates at cost.
