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Previous: INTERGROUP CORP, SC 13D/A, 1995-08-08 |
Next: PENN ENGINEERING & MANUFACTURING CORP, 10-Q, 1995-08-08 |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of
NATIONAL FUEL GAS COMPANY SIXTH
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 ten months ended June 30, 1995. The ten 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 June 30,
1995. Exhibit C is the income statement of Leidy Hub, Inc. for the three and
twelve months ended June 30, 1995, and Exhibit D is the balance sheet for Leidy
Hub, Inc. at June 30, 1995.
IN WITNESS WHEREOF, the undersigned companies have duly caused this
Certificate to be signed this 8th day of August 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
<PAGE>
EXHIBIT INDEX
(File No. 70-8417)
(1) Exhibit A - Income Statement of Ellisburg-Leidy
Northeast Hub Company for the Three
and Ten Months Ended June 30, 1995.
(2) Exhibit B - Balance Sheet of Ellisburg-Leidy Northeast
Hub Company as of June 30, 1995.
(3) Exhibit C - Income Statement of Leidy Hub, Inc. for
the Three and Twelve Months Ended June 30, 1995.
(4) Exhibit D - Balance Sheet of Leidy Hub, Inc.
as of June 30, 1995.
EXHIBIT A
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Ten Months Ended
June 30, 1995 June 30, 1995
------------- -------------
REVENUES
Gas Sales $5,291,482 $17,536,690
Wheeling Fees 1,372 58,027
Parking Fees 940 56,486
Other 73,328 568,376
--------- ----------
Total Revenues 5,367,122 18,219,579
--------- ----------
COST OF SALES
Gas Purchases 5,233,993 17,135,571
Parking 2,316 36,890
Transportation Cost - 150
Wheeling 762 10,037
Other 71,855 585,729
--------- ----------
Total Cost Of Sales 5,308,926 17,768,377
--------- ----------
Gross Margin 58,196 451,202
General & Administrative
Allocation 81,000 270,000
--------- ----------
Net Income $ (22,804) $ 181,202
========== ==========
EXHIBIT B
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
BALANCE SHEET
(UNAUDITED)
At June 30, 1995
CURRENT ASSETS
Cash $ 129,765
Accounts Receivable 2,132,997
---------
Total Current Assets 2,262,762
---------
PROPERTY & EQUIPMENT 28,812
---------
TOTAL ASSETS $2,291,574
=========
CURRENT LIABILITIES
Gas Purchase Payable $2,294,441
Transportation Payable (232,619)
---------
Total Current Liabilities 2,061,822
---------
TOTAL LIABILITIES 2,061,822
---------
EQUITY
Contributed Capital - Hub Services,
Inc. 124,745
Contributed Capital - Leidy Hub,
Inc. 105,007
---------
Total Equity 229,752
---------
TOTAL LIABILITIES & EQUITY $2,291,574
=========
EXHIBIT C
LEIDY HUB, INC.
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Twelve Months Ended
June 30, 1995 June 30, 1995
------------- -------------
Operating Expenses:
Operations Expense $ 4,947 $14,242
Other Taxes (20) 1,630
------ ------
Total Operating Expenses 4,927 15,872
------ ------
Other Income:
Equity Interest in
Ellisburg-Leidy (3,086)* 98,917
Miscellaneous 400 (15,364)
------ ------
(2,686) 83,553
------ ------
Other Deductions:
Interest-Assoc. Companies 3,107 11,620
------ ------
Pretax Income (10,720) 56,061
------ ------
Income Taxes - Current (3,646) 19,831
- Deferred (106) 612
------ ------
(3,752) 20,443
------ ------
Net Income $(6,968) $35,618
====== ======
* Leidy Hub, Inc. only recorded partnership activity for April and May 1995
as the June 1995 information was not available in time for Leidy Hub, Inc.'s
June accounting close. The June 1995 activity will be recorded in July 1995.
EXHIBIT D
LEIDY HUB, INC.
BALANCE SHEET
(UNAUDITED)
At June 30, 1995
ASSETS
Current Assets:
Cash $ 83,022
Accounts Receivable 20
Prepayments 6,063
---------
Total Current Assets 89,105
---------
Property, Plant & Equipment 3,208
Less: Reserve for DDA (3,208)
Property, Plant & Equipment -
---------
Other Assets:
Investment in Ellisburg-Leidy
Northeast Hub Co. 113,323*
Other Investments 602,592
Other Deferred Debit 49,724
---------
Total Other Assets 765,639
---------
Total Assets $ 854,744
=========
LIABILITIES & STOCKHOLDERS EQUITY Capital Stock $1 Par:
Authorized 4,000 shares issued
and outstanding $ 4,000
Paid-in-Capital 1,038,500
Retained Earnings (418,449)
---------
Total Stockholders Equity 624,051
---------
Current & Accrued Liabilities:
Notes Payable Assoc. Companies 200,000
Accounts Payable 2,470
Federal Income Taxes Payable 28,437
Other Accrued Taxes (4)
---------
Total Current & Accrued Liabilites 230,903
---------
Accumulated Deferred Income Taxes (210)
---------
Total Liabilities & Equity $ 854,744
=========
* The investment balance at June 30, 1995 only reflects partnership
activity through May 1995 as the June 1995 information was not available in time
for Leidy Hub, Inc.'s June accounting close. The June 1995 activity will be
recorded in July 1995.
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