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Previous: NARRAGANSETT ELECTRIC CO, 424B2, 1995-02-07 |
Next: NATIONAL PATENT DEVELOPMENT CORP, 8-K, 1995-02-07 |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
TWELFTH
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
Three and Twelve Months ended December 31, 1994. Also attached as
Exhibit "B", is the Balance Sheet of NFR as of December 31, 1994.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this Certificate to be signed this 7th day of February,
1995.
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
12TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Three Months Twelve Months
Ended Ended
December 1994 December 1994
Operating Revenues:
Gas - Retail $9,707,042 $44,136,191
Gas- Wholesale 167,509 5,960,000
Other (97,590) (124,194)
___________ ____________
$9,776,961 $49,971,997
___________ ____________
Operating Expenses:
Purchase Gas 8,773,608 46,847,914
General and Administrative 367,056 1,105,622
Depletion, Depreciation and Amortization 745 2,124
Franchise and Other Taxes 38,593 305,738
___________ ____________
$9,180,002 $48,261,398
___________ ____________
Operating Income $596,959 1,710,599
___________ ____________
Interest Income 57,354 166,104
Interest Expense 1,370 4,680
Amortization and Misc Deductions 12 (13,406)
___________ ____________
$55,972 $174,830
___________ ____________
Net Income Before Tax $652,931 $1,885,429
___________ ____________
Income Taxes:
Federal 275,447 739,513
State 19,591 (71,264)
Deferred (55,678) (130,178)
___________ ____________
$239,360 $538,071
___________ ____________
Net Income $413,571 $1,347,358
=========== ============
EXHIBIT B (PAGE 1 OF 2)
12TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT DECEMBER 31, 1994
(Unaudited)
ASSETS
Current Assets:
Cash $ 215,218
Short Term Investments 2,473,163
Accounts Receivable 5,833,536
Accounts Receivable-Intercompany 16,334
Reserve for Doubtful Accounts (259,000)
Other Current Assets 452,024
___________
$8,731,275
Property, Plant, and Equipment
Furniture and Fixtures 18,582
Less - Accumulated Depreciation 6,258
___________
$12,324
Other Assets:
Long Term Investments 542,224
Other Deferred Debits 11,028
Deferred Tax Asset --
___________
$ 553,252
___________
$9,296,851
===========
EXHIBIT B (PAGE 2 OF 2)
12TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT DECEMBER 31, 1994
(Unaudited)
LIABILITIES
Current Liabilities:
Accounts Payable $1,045,205
Accrued Liabilities 435,494
Accrued Sales Tax 4,180
Current Income Taxes-Federal 250,434
-State (40,062)
Accounts Payable-Intercompany 1,099,737
Notes Payable-Intercompany --
___________
2,794,987
Long Term Liabilities:
Deferred Income Taxes 315,057
Miscellaneous Deferred Credits 112,953
___________
$ 428,010
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 2,573,854
___________
$6,073,854
___________
$9,296,851
===========
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