PAGE 1 OF 10
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
NATIONAL FUEL GAS COMPANY SEVENTH
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 June 30, 1995 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
4/3/95 $14,300,000 6.27%
4/4/95 8,200,000 6.21
4/5/95 2,400,000 6.15
4/7/95 3,800,000 6.02
4/10/95 800,000 6.08
4/12/95 3,400,000 6.05
4/13/95 13,400,000 6.07
4/14/95 16,000,000 6.22
4/17/95 17,600,000 6.22
4/18/95 5,000,000 6.13
4/18/95 7,500,000 6.12
4/19/95 3,000,000 6.02
4/20/95 10,000,000 6.02
4/20/95 8,800,000 6.09
4/21/95 7,300,000 6.02
4/24/95 5,600,000 6.03
4/25/95 11,400,000 6.04
4/25/95 10,000,000 6.13
4/25/95 10,000,000 6.19
4/26/95 11,200,000 6.16
4/27/95 8,300,000 6.12
4/28/95 16,100,000 6.08
5/1/95 10,100,000 6.13
5/1/95 20,000,000 6.25
5/1/95 10,000,000 6.13
5/1/95 8,000,000 6.13
5/1/95 10,000,000 6.13
5/1/95 10,000,000 6.14
5/1/95 10,000,000 6.13
5/1/95 15,000,000 6.22
5/2/95 7,200,000 6.05
5/3/95 3,300,000 6.08
5/4/95 6,000,000 6.08
5/5/95 3,500,000 6.08
5/8/95 10,300,000 6.14
5/9/95 6,200,000 6.08
PAGE 3 OF 10
5/10/95 2,100,000 6.22
5/11/95 7,500,000 6.07
5/12/95 8,400,000 6.00
5/15/95 10,000,000 6.20
5/15/95 4,200,000 6.28
5/16/95 7,600,000 6.15
5/17/95 3,800,000 6.09
5/18/95 2,200,000 6.09
5/19/95 7,100,000 6.03
5/22/95 8,800,000 6.13
5/22/95 10,000,000 6.09
5/23/95 6,600,000 6.10
5/24/95 6,200,000 6.15
5/25/95 22,000,000 6.13
5/26/95 11,100,000 6.08
5/30/95 10,300,000 6.14
5/31/95 17,000,000 6.27
6/1/95 11,100,000 6.08
6/2/95 9,400,000 6.08
6/5/95 7,700,000 6.07
6/5/95 10,000,000 6.14
6/6/95 6,300,000 6.08
6/7/95 1,600,000 6.28
6/8/95 28,900,000 6.14
6/9/95 26,000,000 6.14
6/19/95 10,000,000 6.13
6/19/95 12,000,000 6.15
6/20/95 11,500,000 6.15
6/20/95 10,000,000 6.11
6/23/95 10,000,000 6.10
6/23/95 11,600,000 6.11
6/23/95 10,000,000 6.11
6/26/95 10,000,000 6.16
6/26/95 500,000 6.16
6/26/95 11,800,000 6.09
6/27/95 5,500,000 6.08
6/28/95 6,000,000 6.02
6/29/95 3,800,000 6.08
6/30/95 10,000,000 6.37
6/30/95 16,600,000 6.30
On April 18, 1995 National renewed its $125,000,000 line of
credit with Chase Manhattan Bank, N.A. National's credit facility
with Manufacturers and Traders Trust Company was increased from
$35,000,000 to $70,000,000 on May 9, 1995. On May 10, 1995 National
and Broadway Capital Corporation entered into a Loan Agreement having
a facility amount of $50,000,000. Borrowings under such facilities
will be made in accordance with the Application-Declaration and the
Commission's Order.
PAGE 4 OF 10
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
and/or commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
4/3/95 $9,900,000 6.12%
4/12/95 8,900,000 6.08
4/24/95 9,000,000 6.03
4/26/95 100,000 6.05
5/2/95 1,000,000 6.08
5/4/95 1,300,000 6.07
5/5/95 500,000 6.06
5/12/95 6,800,000 6.03
5/30/95 700,000 6.05
5/31/95 4,500,000 6.05
6/1/95 1,000,000 6.05
6/19/95 1,100,000 6.07
6/26/95 2,200,000 6.06
6/27/95 6,300,000 6.07
6/29/95 500,000 6.09
4. Supply Corporation (non-Penn-York) borrowed the
following amounts from the System Money Pool on the
dates and at the rates indicated below.
None.
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
4/6/95 $ 100,000 6.154%
4/7/95 100,000 6.144
4/14/95 800,000 6.153
4/19/95 100,000 6.132
4/25/95 1,100,000 6.220
4/26/95 100,000 6.230
4/27/95 300,000 5.952
5/1/95 300,000 6.146
5/3/95 100,000 6.145
5/9/95 100,000 6.146
5/18/95 100,000 6.182
5/19/95 1,100,000 6.160
PAGE 5 OF 10
5/24/95 100,000 6.166
5/30/95 900,000 6.154
6/5/95 100,000 6.146
6/13/95 100,000 6.139
6/19/95 1,200,000 6.140
6/30/95 100,000 6.187
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.
DATE AMOUNT RATE
4/18/95 $ 300,000 6.08%
4/19/95 5,200,000 6.06
4/21/95 2,500,000 6.06
4/24/95 1,700,000 6.03
6/12/95 27,700,000 6.06
6/15/95 100,000 6.03
6/16/95 4,400,000 6.06
6/19/95 900,000 6.07
6/21/95 700,000 6.08
6/22/95 1,300,000 6.08
6. Distribution Corporation borrowed the following amounts
from the System Money Pool on the dates and at the
rates indicated below:
DATE AMOUNT RATE
4/14/95 $ 1,300,000 6.153%
4/17/95 600,000 6.154
4/25/95 19,200,000 6.220
4/28/95 3,000,000 6.118
5/1/95 44,400,000 6.146
5/19/95 5,600,000 6.160
5/22/95 1,700,000 6.162
5/25/95 13,700,000 6.163
5/31/95 8,000,000 6.164
6/8/95 18,500,000 6.144
6/27/95 2,000,000 6.135
6/30/95 7,500,000 6.187
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
4/3/95 $ 500,000 6.12%
4/7/95 2,000,000 6.07
4/12/95 2,800,000 6.08
5/1/95 2,200,000 6.07
5/3/95 500,000 6.08
5/8/95 1,500,000 6.06
5/12/95 2,700,000 6.03
5/31/95 1,900,000 6.05
6/2/95 500,000 6.07
6/5/95 700,000 5.98
6/8/95 1,500,000 5.98
6/16/95 6,000,000 6.06
6/27/95 500,000 6.07
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
4/5/95 $ 100,000 6.153%
4/7/95 300,000 6.144
4/10/95 100,000 6.148
4/12/95 600,000 6.140
4/13/95 200,000 6.130
4/17/95 700,000 6.154
4/18/95 500,000 6.138
4/19/95 400,000 6.132
4/26/95 200,000 6.230
4/28/95 1,100,000 6.118
5/1/95 32,600,000 6.146
5/3/95 100,000 6.145
5/12/95 600,000 6.140
5/16/95 100,000 6.153
5/17/95 1,000,000 6.166
PAGE 7 OF 10
5/18/95 200,000 6.182
5/22/95 600,000 6.162
5/23/95 100,000 6.164
5/24/95 200,000 6.166
5/30/95 1,800,000 6.154
6/5/95 800,000 6.146
6/6/95 100,000 6.143
6/12/95 3,600,000 6.136
6/13/95 100,000 6.139
6/14/95 100,000 6.139
6/19/95 800,000 6.140
6/22/95 200,000 6.133
6/29/95 300,000 6.136
6/30/95 2,100,000 6.187
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 Nine and Twelve
Months Ended June 30, 1995 and attached as Exhibit B is
a copy of Seneca's Balance Sheet at June 30, 1995.
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.
DATE AMOUNT RATE
6/14/95 $1,700,000 6.03%
11. UCI borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
5/1/95 $500,000 6.146%
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
4/3/95 $ 400,000 6.12%
PAGE 8 OF 10
4/7/95 800,000 6.07
4/17/95 200,000 6.08
4/25/95 1,100,000 6.03
5/1/95 100,000 6.07
5/4/95 400,000 6.07
5/8/95 800,00 6.06
5/18/95 200,000 5.86
5/25/95 1,100,000 6.05
5/31/95 100,000 6.05
6/5/95 400,000 5.98
6/8/95 800,000 5.98
6/16/95 200,000 6.06
6/23/95 1,100,000 6.08
6/30/95 100,000 6.09
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
4/7/95 $400,000 6.07%
5/8/95 400,000 6.06
6/8/95 400,000 5.98
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
4/5/95 $ 700,000 6.12%
4/7/95 100,000 6.07
4/10/95 700,000 6.05
4/11/95 800,000 6.08
4/12/95 500,000 6.08
4/13/95 800,000 6.08
4/17/95 600,000 6.08
4/19/95 100,000 6.06
4/20/95 800,000 6.06
4/24/95 100,000 6.03
4/25/95 700,000 6.07
5/9/95 500,000 6.03
5/10/95 300,000 6.02
5/11/95 1,200,000 6.02
5/12/95 500,000 6.03
5/15/95 800,000 6.03
5/16/95 300,000 6.07
5/18/95 900,000 5.86
5/22/95 800,000 6.05
6/5/95 500,000 5.98
6/7/95 100,000 5.95
6/9/95 1,400,000 6.00
6/12/95 900,000 6.06
6/14/95 1,300,000 6.03
6/15/95 300,000 6.03
6/16/95 900,000 6.06
6/21/95 700,000 6.08
6/29/95 200,000 6.09
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: August 10, 1995 NATIONAL FUEL GAS COMPANY
By: /s/ Gerald T. Wehrlin
Gerald T. Wehrlin
Controller
\JES\MONYPOOL\R24-7-95.WP
PAGE 1 OF 2
Debt and Equity Markets Group
World Financial Center
North Tower
New York, New York 10281-1310
212 449 1000
MERRILL LYNCH
July 10, 1995
Ms. Donna Cambas
Supervisor of Accounting & Finance
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 April 1, 1995 to June 30, 1995 no sales
or 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
ESJ:lcm
Enclosed
PAGE 2 OF 2
PROGRAM ISSUANCE TRADE DETAIL - CP
04/01/95 - 06/30/95
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.
07/13/95 page 2
PAGE 1 OF 2
Chase Securities, Inc.
One Chase Manhattan Plaza
New York, New York 10081
CHASE
July 17, 1995
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
April 4, 1995 to June 30, 1995 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
PAGE 2 OF 2
Chase Securities, Inc.
One Chase Manhattan Plaza
New York, New York 10081
CHASE July 17, 1995
NATIONAL FUEL GAS COMPANY
Second Quarter Performance Report
PAR ISSUE MATURITY
AMOUNT DATE DATE RATE YIELD TERM TYPE
10,000,000 04/26/95 06/16/95 6.10 6.1532 51 Days Discounted
10,000,000 04/26/95 06/23/95 6.14 6.2015 58 Days Discounted
15,000,000 06/27/95 07/03/95 6.05 6.0561 6 Days Discounted
/s/ Anton J. Schubert
Anton J. Schubert, Vice President
SEC FILE NO. 70-8297
RULE 24 - SEVENTH CERTIFICATE
EXHIBIT A
SENECA RESOURCES CORPORATION
INCOME STATEMENT
(Unaudited)
Nine Months Ended Twelve Months Ended
JUNE 1995 JUNE 1995
_________________ ___________________
Operating Revenues $45,895,451 $64,099,719
------------- -----------
Operating Expenses:
Purchased Gas 799,689 956,023
Operation and Maintenance 14,180,368 19,611,137
Depletion, Depreciation & Amort. 15,945,182 22,952,284
Other Taxes 662,204 1,225,459
------------- ------------
31,587,443 44,744,903
------------- ------------
Operating Income 14,308,008 19,354,816
------------- ------------
Other Income 64,875 68,503
Interest Expense 6,675,507 8,526,571
------------- ------------
Net Income Before Income Taxes 7,697,376 10,896,748
------------- ------------
Income Taxes:
Federal (4,168,932) (7,146,781)
State (125,310) (125,310)
Deferred 6,812,896 9,232,429
------------- ------------
2,518,654 1,960,338
------------- ------------
Net Income $ 5,178,722 $ 8,936,410
============ ============
SEC FILE NO. 70-8297
RULE 24 - SEVENTH CERTIFICATE
EXHIBIT B PAGE 1 OF 2
SENECA RESOURCES CORPORATION
BALANCE SHEET
AT JUNE 30, 1995
(Unaudited)
ASSETS Total
------ -------------
Current Assets
Cash $ 809,923
Accounts Receivable-
Intercompany 2,153,143
Other 6,395,045
Allowance for Uncollectible Accounts (123,051)
Notes Receivable-
Associated Company 0
Other 85,000
Production Receivable 0
Materials and Supplies 1,587,789
Prepayments 1,866,167
-------------
Total Current Assets 12,774,016
-------------
Property, Plant and Equipment 525,867,521
Less: Accumulated Depreciation, Depletion
and Amortization 185,257,689
-------------
Net Property, Plant and Equipment 340,609,832
-------------
Other Assets
Other Assets 0
Deferred Charges 1,482,830
Notes Receivable 36,300
-------------
Total Other Assets 1,519,130
-------------
Total Assets $354,902,978
=============
SEC FILE NO. 70-8297
RULE 24 - SEVENTH CERTIFICATE
EXHIBIT B PAGE 2 OF 2
SENECA RESOURCES CORPORATION
BALANCE SHEET
AT JUNE 30, 1995
(Unaudited)
LIABILITIES AND STOCKHOLDERS' EQUITY Total
------------------------------------ -------------
Current Liabilities:
Accounts Payable-
Intercompany $ 1,758,562
Other 2,281,728
Notes Payable-Intercompany 119,900,000
Accrued Liabilities 1,246,507
Federal Income Taxes (5,719,971)
Other Accrued Taxes 77,695
Accrued Pension Contribution 0
-------------
Total Current Liabilities 119,544,521
-------------
Other Liabilities:
Accumulated Deferred Income Taxes 71,512,268
Other Deferred Credits 2,177,849
-------------
Total Other Liabilities 73,690,117
-------------
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 9,133,398
-------------
113,668,340
Advances from Associated Companies 48,000,000
Long-Term Debt 0
-------------
Total Capitalization 161,668,340
-------------
Total Liabilities and Stockholders Equity $354,902,978
=============
