PAGE 1 OF 10
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
NATIONAL FUEL GAS COMPANY THIRD
NATIONAL FUEL GAS DISTRIBUTION CORPORATION CERTIFICATE
NATIONAL FUEL GAS SUPPLY CORPORATION PURSUANT TO
SENECA RESOURCES CORPORATION RULE 24
UTILITY CONSTRUCTORS, INC.
HIGHLAND LAND & MINERALS, INC.
LEIDY HUB, INC.
DATA-TRACK ACCOUNT SERVICES, INC.
NATIONAL FUEL RESOURCES, INC.
File No. 70-8297
(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"), Seneca Resources Corporation ("Seneca"),
Utility Constructors, Inc. ("UCI"), Highland Land & Minerals, Inc.
("Highland"), 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. 70-8297, 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 ("Commission") (HCAR
No. 35-25964 dated December 29, 1993) with respect thereto. Note
that, on July 1, 1994, Penn-York Energy Corporation ("Penn-York")
merged with Supply Corporation, with Supply Corporation as the
surviving entity (see File No. 70-8135, HCAR No. 35-25811). Because
of certain FERC ratemaking considerations, Supply Corporation found
it necessary to separately account for Penn-York associated
borrowings until the FERC approved of Supply Corporation's tariff
rates that effected the combination of the Supply Corporation and
Penn-York assets.
During the quarter ended September 30, 1994 the following
borrowing transactions occurred:
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.
PAGE 2 OF 10
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.
DATE AMOUNT RATE
7/1/94 $ 8,800,000 4.45%
7/1/94 10,000,000 4.66
7/5/94 9,800,000 4.45
7/6/94 6,400,000 4.58
7/7/94 20,000,000 4.49
7/7/94 5,300,000 4.53
7/8/94 2,000,000 4.53
7/11/94 9,200,000 4.55
7/12/94 5,100,000 4.50
7/13/94 14,500,000 4.40
7/21/94 6,100,000 4.39
7/22/94 6,100,000 4.39
7/25/94 6,900,000 4.45
7/25/94 10,000,000 4.50
7/25/94 14,000,000 4.43
7/25/94 10,000,000 4.58
7/26/94 1,600,000 4.45
7/27/94 1,500,000 4.45
7/28/94 2,100,000 4.45
7/29/94 5,000,000 4.41
7/29/94 5,600,000 4.52
8/1/94 5,800,000 4.52
8/2/94 5,800,000 4.46
8/3/94 3,800,000 4.40
8/4/94 1,300,000 4.38
8/5/94 5,300,000 4.48
8/8/94 13,200,000 4.45
8/9/94 11,300,000 4.43
8/10/94 9,900,000 4.40
8/11/94 9,700,000 4.45
8/12/94 10,100,000 4.37
8/15/94 7,800,000 4.68
8/15/94 10,000,000 4.66
8/16/94 8,000,000 4.75
8/17/94 4,100,000 4.82
8/18/94 3,600,000 4.84
PAGE 3 OF 10
8/19/94 7,300,000 4.82
8/22/94 6,700,000 4.85
8/22/94 5,000,000 4.88
8/22/94 10,000,000 4.90
8/23/94 6,300,000 4.80
8/24/94 7,000,000 4.78
8/25/94 10,000,000 4.89
8/25/94 9,400,000 4.87
8/25/94 5,000,000 4.85
8/25/94 10,000,000 4.87
8/26/94 5,300,000 4.87
8/29/94 11,000,000 4.90
8/30/94 10,100,000 4.90
8/31/94 7,500,000 5.06
8/31/94 10,000,000 4.95
9/1/94 2,700,000 4.87
9/2/94 900,000 4.81
9/6/94 5,700,000 4.87
9/7/94 3,400,000 4.85
9/8/94 3,900,000 4.90
9/9/94 10,000,000 4.88
9/12/94 7,500,000 4.96
9/12/94 5,600,000 4.87
9/13/94 2,000,000 4.81
9/14/94 2,700,000 4.81
9/15/94 11,500,000 4.85
9/15/94 7,500,000 4.97
9/15/94 7,500,000 4.98
9/16/94 12,000,000 4.80
9/19/94 6,100,000 4.87
9/19/94 7,500,000 4.97
9/20/94 7,600,000 4.81
9/21/94 2,900,000 4.89
9/21/94 10,000,000 5.00
9/22/94 3,200,000 4.92
9/23/94 13,200,000 5.13
9/23/94 10,000,000 5.06
9/26/94 3,800,000 5.00
9/26/94 7,500,000 5.16
9/26/94 10,000,000 5.20
9/27/94 9,500,000 4.93
9/28/94 7,700,000 4.75
9/29/94 9,400,000 4.87
9/30/94 12,400,000 5.40
9/30/94 9,400,000 5.37
3. Supply Corporation (non-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
PAGE 4 OF 10
and/or commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
7/18/94 $ 100,000 4.49%
7/22/94 1,000,000 4.45
7/26/94 2,300,000 4.46
7/28/94 100,000 4.46
7/29/94 5,100,000 4.48
8/15/94 27,700,000 4.61
8/22/94 900,000 4.80
8/25/94 5,500,000 4.78
8/26/94 3,800,000 4.78
8/30/94 400,000 4.79
8/31/94 3,600,000 4.80
9/1/94 600,000 4.82
9/15/94 18,400,000 4.87
9/22/94 600,000 4.91
9/23/94 5,000,000 4.98
9/26/94 5,900,000 4.99
9/27/94 6,200,000 5.02
9/28/94 400,000 5.03
4. Supply Corporation (non-Penn-York) borrowed the
following amounts from the System Money Pool on the
dates and at the rates indicated below.
DATE AMOUNT RATE
7/5/94 $500,000 4.516%
7/6/94 400,000 4.523
7/7/94 200,000 4.521
7/8/94 100,000 4.521
7/11/94 400,000 4.532
7/12/94 300,000 4.530
7/13/94 200,000 4.529
Supply Corporation (Penn-York related) borrowed the
following amounts from the System Money Pool on the
dates and at the rates indicated below.
DATE AMOUNT RATE
7/6/94 $ 200,000 4.523%
7/14/94 1,200,000 4.557
7/22/94 1,400,000 4.557
7/28/94 200,000 4.546
7/29/94 100,000 4.538
8/2/94 100,000 4.535
PAGE 5 OF 10
8/22/93 1,300,000 4.671
8/30/94 100,000 4.772
8/31/94 100,000 4.805
9/2/94 100,000 4.791
9/28/94 100,000 4.988
9/29/94 200,000 4.994
9/30/94 900,000 5.057
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
7/1/94 $ 26,000,000 4.514%
7/18/94 600,000 4.564
7/20/94 1,700,000 4.562
7/25/94 21,400,000 4.543
7/29/94 12,100,000 4.538
8/2/94 500,000 4.535
8/15/94 100,000 4.599
8/22/94 3,900,000 4.671
8/25/94 22,900,000 4.763
8/29/94 5,300,000 4.773
8/31/94 5,600,000 4.805
9/12/94 200,000 4.790
9/14/94 300,000 4.788
9/15/94 6,200,000 4.875
9/16/94 200,000 4.871
9/20/94 1,700,000 4.881
9/21/94 6,300,000 4.898
9/26/94 11,400,000 4.998
9/27/94 12,600,000 4.995
9/29/94 400,000 4.994
9/30/94 7,500,000 5.057
7. 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
PAGE 6 OF 10
commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
7/1/94 $100,000 4.50%
7/5/94 2,500,000 4.52
7/6/94 400,000 4.52
7/11/94 1,300,000 4.55
7/12/94 100,000 4.57
7/13/94 5,900,000 4.57
7/18/94 500,000 4.49
8/1/94 200,000 4.46
8/2/94 300,000 4.44
8/11/94 300,000 4.52
8/12/94 100,000 4.54
8/15/94 5,800,000 4.61
8/17/94 600,000 4.69
8/19/94 3,800,000 4.79
9/2/94 500,000 4.81
9/8/94 100,000 4.81
9/12/94 300,000 4.84
9/15/94 5,700,000 4.87
9/16/94 500,000 4.87
9/16/94 600,000 4.88
9/21/94 3,800,000 4.90
8. 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.
9. Seneca borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
7/5/94 $1,100,000 4.516%
7/14/94 100,000 4.557
7/27/94 300,000 4.547
7/28/94 400,000 4.546
7/29/94 1,600,000 4.538
8/1/94 400,000 4.538
8/5/94 200,000 4.540
8/9/94 100,000 4.543
PAGE 7 OF 10
8/11/94 100,000 4.546
8/12/94 200,000 4.538
8/24/94 1,600,000 4.707
8/26/94 200,000 4.764
8/30/94 700,000 4.772
8/31/94 800,000 4.805
9/7/94 100,000 4.792
9/14/94 100,000 4.788
9/15/94 100,000 4.875
9/16/94 100,000 4.871
9/19/94 600,000 4.884
9/26/94 1,000,000 4.998
9/27/94 100,000 4.995
9/29/94 300,000 4.994
9/30/94 1,000,000 5.057
In accordance with the terms of the Application-
Declaration (Item 5) and the Order of the Commission in
this proceeding dated December 29, 1993 (HCAR
No. 35-25964), attached as Exhibit A is a copy of
Seneca's Income Statement for the Twelve Months Ended
September 30, 1994 and attached as Exhibit B is a copy
of Seneca's Balance Sheet at September 30, 1994.
10. 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.
11. UCI borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
7/11/94 $200,000 4.532%
7/22/94 100,000 4.557
7/26/94 100,000 4.548
8/23/94 100,000 4.707
8/25/94 200,000 4.763
8/29/94 200,000 4.773
9/2/94 100,000 4.791
9/6/94 200,000 4.793
9/12/94 300,000 4.790
9/16/94 300,000 4.871
PAGE 8 OF 10
12. 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
7/5/94 $200,000 4.52%
7/13/94 100,000 4.57
7/15/94 1,200,000 4.54
7/29/94 600,000 4.48
8/5/94 200,00 4.43
8/15/94 1,300,000 4.61
8/29/94 600,000 4.78
9/6/94 200,000 4.80
9/15/94 1,300,000 4.87
13. Highland borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
14. Leidy 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.
15. Leidy borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
16. 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
7/22/94 $500,000 4.45%
8/31/94 500,000 4.80
PAGE 9 OF 10
17. Data-Track borrowed the following amounts from the
System Money Pool on the dates and at the rates
indicated below:
None.
18. 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
7/8/94 $1,000,000 4.51%
7/11/94 200,000 4.55
7/13/94 500,000 4.57
7/15/94 1,000,000 4.54
7/18/94 500,000 4.49
7/19/94 400,000 4.45
7/20/94 200,000 4.43
7/21/94 400,000 4.42
7/22/94 100,000 4.45
7/29/94 200,000 4.48
8/3/94 600,000 4.43
8/4/94 200,000 4.44
8/5/94 500,000 4.43
8/8/94 300,000 4.49
8/11/94 400,000 4.52
8/15/94 900,000 4.61
8/16/94 300,000 4.65
8/19/94 500,000 4.79
8/31/94 500,000 4.80
9/2/94 800,000 4.81
9/6/94 400,000 4.80
9/8/94 400,000 4.81
9/9/94 300,000 4.84
9/15/94 800,000 4.87
9/16/94 200,000 4.87
9/20/94 200,000 4.89
9/21/94 500,000 4.90
19. NFR borrowed the following amounts from the System
PAGE 10 OF 10
Money Pool on the dates and at the rates indicated
below:
None.
Dated: November 15, 1994 NATIONAL FUEL GAS COMPANY
By:/s/ Gerald T. Wehrlin
Gerald T. Wehrlin
Controller
\JES\MONYPOOL\R24-3-94.WP
Money Markets Origination
Debt Markets Group
World Financial Center
North Tower
New York, New York 10281-1323
212 449 1000
MERRILL LYNCH
October 4, 1994
Ms. Donna Cambas
National Fuel Gas Company
10 Lafayette Square - Room 1100
New York, NY 14203
Dear Donna:
This is to advise you that in connection with the distribution of commercial
paper of National Fuel Gas Company from July 1, 1994 to September 30, 1994 no
sales and resales were made by Merrill Lynch Money Markets Inc. for National
Fuel Gas Company's commercial paper program. A summary of all trade activity
for the quarter is attached, which reflects no sales or resales took place for
the period indicated.
Sincerely,
/s/ E. Stewart Johnson
E. Stewart Johnson
Enclosure
ESJ:gkr
PROGRAM ISSUANCE TRADE DETAIL - CP
07/01/94 - 09/30/94
Pgm Fx/F1 Trade Dt Sett Dt MTY DTM PAR Rate Proceeds
TOTALS
______
Number of Trans: 0
Total Par 0
Total Proceeds 0
Dollar Weighted Averages
________________________
Days to Mty: NaN
Rate: NaN
Programs:
N1 NATIONAL FUEL GAS CO.
Chase Securities, Inc.
One Chase Manhattan Plaza
New York, New York 10081
CHASE
October 12, 1994
Ms. Donna Cambas
National Fuel Gas Company
10 Lafayette Square - Room 1500
Buffalo, New York 14203
Dear Ms. Cambas:
This is to advise you that in connection with the distribution of
commercial paper for the National Fuel Gas Company from
July 1, 1994 to September 30, 1994 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
Chase Securities, Inc.
One Chase Manhattan Plaza
New York, New York 10081
CHASE October 12, 1994
NATIONAL FUEL GAS COMPANY
Third Quarter Performance Report
PAR ISSUE MATURITY
AMOUNT DATE DATE RATE YIELD TERM TYPE
10,000,000 08/23/94 10/11/94 5.05 5.0849 49 Days Discounted
/s/ Anton J. Schubert
Anton J. Schubert, Vice President
SEC FILE NO. 70-8297
RULE 24 - THIRD CERTIFICATE
EXHIBIT A PAGE 1 OF 1
SENECA RESOURCES CORPORATION
INCOME STATEMENT
Twelve Months Ended
SEPTEMBER 1994
___________________
Operating Revenues $71,502,993
------------
Operating Expenses:
Purchased Gas 1,181,038
Operation and Maintenance 19,334,921
Depletion, Depreciation & Amort. 26,964,048
Other Taxes 1,855,971
------------
49,335,978
------------
Operating Income 22,167,015
------------
Other Income 59,044
Interest Income 48,070
------------
107,114
------------
Interest Expense 6,938,420
Net Income Before Income Taxes 15,335,709
------------
Income Taxes:
Federal (3,397,021)
State 521,261
Deferred 6,158,148
------------
3,282,388
------------
Net Income Before Cumulative Effect 12,053,321
Cumulative Effect of Change in Accounting
for Income Taxes 3,865,503
____________
Net Income $15,918,824
============
SEC FILE NO. 70-8297
RULE 24 - THIRD CERTIFICATE
EXHIBIT B PAGE 1 OF 2
SENECA RESOURCES CORPORATION
BALANCE SHEET
AT SEPTEMBER 30, 1994
ASSETS Total
- ------ -------------
Current Assets
Cash $1,743,682
Accounts Receivable-
Intercompany 1,268,811
Other 10,095,843
Allowance for Uncollectible Accounts (121,395)
Notes Receivable-
Associated Company 0
Other 85,000
Production Receivable 0
Materials and Supplies 1,327,046
Prepayments 1,382,090
-------------
Total Current Assets 15,781,077
-------------
Property, Plant and Equipment 456,754,729
Less: Accumulated Depreciation, Depletion
and Amortization 148,088,314
-------------
Net Property, Plant and Equipment 308,666,415
-------------
Other Assets
Deferred Charges 1,747,302
Notes Receivable 36,300
-------------
Total Other Assets 1,783,602
-------------
Total Assets $326,231,094
=============
SEC FILE NO. 70-8297
RULE 24 - THIRD CERTIFICATE
EXHIBIT B PAGE 2 OF 2
SENECA RESOURCES CORPORATION
BALANCE SHEET
AT SEPTEMBER 30, 1994
LIABILITIES AND STOCKHOLDERS' EQUITY Total
- ------------------------------------ -------------
Current Liabilities:
Accounts Payable-
Intercompany $387,817
Other 17,350,427
Notes Payable-Intercompany 85,000,000
Accrued Liabilities 2,676,865
Federal Income Taxes (4,557,572)
Other Accrued Taxes 340,192
-------------
Total Current Liabilities 101,197,729
-------------
Other Liabilities:
Accumulated Deferred Income Taxes 64,782,727
Other Deferred Credits 2,711,915
-------------
Total Other Liabilities 67,494,642
-------------
Stockholders' Equity:
Common Stock-$5 Par Value
Authorized-100,000 Shares; Issued and
Outstanding-100,000 Shares 500,000
Paid in Capital 104,034,942
Earnings Reinvested in the Business 5,003,781
-------------
109,538,723
Advances from Associated Companies 48,000,000
Long-Term Debt 0
-------------
Total Capitalization 157,538,723
-------------
Total Liabilities and Stockholders Equity $326,231,094
=============
