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Previous: NARRAGANSETT ELECTRIC CO, 8-K, 1994-05-16 |
Next: NATIONAL WESTERN LIFE INSURANCE CO, 10-Q, 1994-05-16 |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
NINTH
NATIONAL FUEL GAS COMPANY CERTIFICATE
NATIONAL FUEL RESOURCES, INC. PURSUANT TO
RULE 24
File No. 70-7833
(Public Utility Holding Company Act of 1935)
____________________________________________
In accordance with the terms of the Order dated
December 20, 1991 issued to National Fuel Gas Company ("National")
authorizing National to acquire the common stock of National Fuel
Resources, Inc. ("NFR") (File No. 70-7833, HCAR No. 35-25437),
attached as Exhibit A is an Income Statement of NFR for the Six
and Twelve Months ended March 31, 1994. Also attached as Exhibit
B, is the Balance Sheet of NFR as of March 31, 1994.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this Certificate to be signed this 13th day of May, 1994.
NATIONAL FUEL RESOURCES, INC.
By /s/ David F. Smith
David F. Smith, President
NATIONAL FUEL GAS COMPANY
By /s/ Gerald T. Wehrlin
Gerald T. Wehrlin, Controller
EXHIBIT A
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Six Months Twelve Months
Ended Ended
March 1994 March 1994
Operating Revenues:
Gas - Retail $25,211,035 $34,724,045
Gas- Wholesale 3,553,509 3,914,807
Other 48,855 29,399
Partnership Income 0 708,333
___________ ____________
$28,813,399 $39,376,584
___________ ____________
Operating Expenses:
Purchase Gas 26,816,691 35,749,267
General and Administrative 448,685 1,025,811
Depletion, Depreciation and Amortization 919 1,896
Franchise and Other Taxes 263,666 263,945
___________ ____________
$27,529,961 $37,040,919
___________ ____________
Operating Income (loss) $1,283,438 2,335,665
___________ ____________
Interest Income 38,987 70,176
Interest Expense 4,924 10,386
Amortization and Misc Deductions (25,963) (4,663)
___________ ____________
$60,026 $64,453
___________ ____________
Net Income Before Tax $1,343,464 $2,400,118
___________ ____________
Income Taxes:
Federal 442,205 208,013
State 138,593 78,396
Deferred (23,714) 706,947
___________ ____________
$557,084 $993,356
___________ ____________
Net Income $786,380 $1,406,762
=========== ============
EXHIBIT B (PAGE 1 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT MARCH 31, 1994
(Unaudited)
ASSETS
Current Assets:
Cash $ 361,014
Short Term Investments 1,199,919
Accounts Receivable 4,435,540
Accounts Receivable-Intercompany 18,053
Reserve for Doubtful Accounts (99,000)
Other Current Assets 23,378
___________
$8,938,904
Property, Plant, and Equipment
Furniture and Fixtures 14,586
Less - Accumulated Depreciation 4,593
___________
$9,993
Other Assets:
Long Term Investments 323,807
Other Deferred Debits 54,099
Deferred Tax Asset 55,514
___________
$ 433,420
___________
$9,382,317
===========
<PAGE>
EXHIBIT B (PAGE 2 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT MARCH 31, 1994
(Unaudited)
LIABILITIES
Current Liabilities:
Accounts Payable $2,127,970
Accrued Liabilities 358,117
Accrued Sales Tax 9,045
Current Income Taxes-Federal 410,784
-State 56,362
Accounts Payable-Intercompany 659,919
Notes Payable-Intercompany --
___________
3,622,197
Long Term Liabilities:
Deferred Income Taxes 495,220
Miscellaneous Deferred Credits 44,557
___________
$ 539,777
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 1,720,343
___________
$5,220,343
___________
$9,382,317
===========
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