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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of
NATIONAL FUEL GAS COMPANY FIFTH
LEIDY HUB, INC. CERTIFICATE
ELLISBURG-LEIDY NORTHEAST HUB COMPANY PURSUANT TO
RULE 24
File No. 70-8417
(Public Utility Holding Company Act of 1935)
In accordance with the terms of the Order dated July 29, 1994 issued to
National Fuel Gas Company ("National") authorizing Leidy Hub, Inc., a
subsidiary of National to enter into a partnership with Hub Services, Inc., a
subsidiary of Natural Gas Clearinghouse (File No. 70-8417, HCAR No. 35-26093),
attached as Exhibit A is an income statement of Ellisburg-Leidy Northeast Hub
Company (the Partnership) for the three and seven months ended March 31, 1995.
The seven month period represents profit and loss activity since inception of
the partnership. Also attached as Exhibit B is a balance sheet for the
Partnership at March 31, 1995. Exhibit C is the income statement of Leidy
Hub, Inc. for the three and twelve months ended March 31, 1995, and Exhibit D
is the balance sheet for Leidy Hub, Inc. at March 31, 1995.
IN WITNESS WHEREOF, the undersigned companies have duly caused this
Certificate to be signed this 15th day of May 1995.
LEIDY HUB, INC. AND NATIONAL FUEL GAS
COMPANY
By/s/Gerald T. Wehrlin
Gerald T. Wehrlin, Secretary and
Treasurer, Leidy Hub, Inc.
Controller, National Fuel Gas
Company
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EXHIBIT INDEX
(File No. 70-8417)
(1) Exhibit A - Income Statement of Ellisburg-Leidy Northeast Hub
Company for the Three and Seven Months Ended March 31,
1995.
(2) Exhibit B - Balance Sheet of Ellisburg-Leidy Northeast Hub Company
as of March 31, 1995.
(3) Exhibit C - Income Statement of Leidy Hub, Inc. for the Three and
Twelve Months Ended March 31, 1995.
(4) Exhibit D - Balance Sheet of Leidy Hub, Inc. as of March 31, 1995.
EXHIBIT A
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Seven Months Ended
March 31, 1995 March 31, 1995
REVENUES
Gas Sales $6,318,457 $12,245,208
Wheeling Fees 51,095 56,655
Parking Fees 14,918 55,546
Other 451,779 495,048
Total Revenues 6,836,249 12,852,457
COST OF SALES
Gas Purchases 6,249,074 11,901,578
Parking 13,768 34,574
Transportation Cost - 150
Wheeling 8,359 9,275
Other 463,036 513,874
Total Cost Of Sales 6,734,237 12,459,451
Gross Margin 102,012 393,006
General & Administrative
Allocation 81,000 189,000
Net Income $ 21,012 $ 204,006
EXHIBIT B
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
BALANCE SHEET
(UNAUDITED)
At March 31, 1995
CURRENT ASSETS
Cash $1,286,048
Accounts Receivable 1,671,320
Total Current Assets 2,957,368
PROPERTY & EQUIPMENT 28,812
TOTAL ASSETS $2,986,180
CURRENT LIABILITIES
Gas Purchase Payable $2,730,448
Transportation Payable 3,176
Total Current Liabilities 2,733,624
TOTAL LIABILITIES 2,733,624
EQUITY
Contributed Capital - Hub Services,
Inc. 136,147
Contributed Capital - Leidy Hub,
Inc. 116,409
Total Equity 252,556
TOTAL LIABILITIES & EQUITY $2,986,180
EXHIBIT C
LEIDY HUB, INC.
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Twelve Months Ended
March 31, 1995 March 31, 1995
Operating Expenses:
Operations Expense $ 4,453 $13,415
Other Taxes 9 5,368
Total Operating Expenses 4,462 18,783
Other Income:
Equity Interest in Ellisburg-Leidy 10,506 102,003
Miscellaneous - (362)
10,506 101,641
Other Deductions:
Interest-Assoc. Companies 3,044 11,609
Pretax Income 3,000 71,249
Income Taxes - Current 1,155 25,040
- Deferred (105) 717
1,050 25,757
Net Income $ 1,950 $ 45,492
EXHIBIT D
LEIDY HUB, INC.
BALANCE SHEET
(UNAUDITED)
At March 31, 1995
ASSETS
Current Assets:
Cash $ 92,381
Prepayments 6,063
Total Current Assets 98,444
Property, Plant & Equipment 3,208
Less: Reserve for DDA (3,208)
Property, Plant & Equipment -
Other Assets:
Investment in Ellisburg-Leidy
Northeast Hub Co. 116,409
Other Investments 602,592
Other Deferred Debit 49,724
Total Other Assets 768,725
Total Assets $ 867,169
LIABILITIES & STOCKHOLDERS EQUITY
Capital Stock $1 Par:
Authorized 4,000 shares issued
and outstanding $ 4,000
Paid-in-Capital 1,038,500
Retained Earnings (411,481)
Total Stockholders Equity 631,019
Current & Accrued Liabilities:
Notes Payable Assoc. Companies 200,000
Accounts Payable 4,174
Federal Income Taxes Payable 32,083
Other Accrued Taxes (3)
Total Current & Accrued Liabilites 236,254
Accumulated Deferred Income Taxes (104)
Total Liabilities & Equity $ 867,169
