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UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of SEVENTH
NATIONAL FUEL GAS COMPANY CERTIFICATE
UTILITY CONSTRUCTORS, INC. PURSUANT TO
RULE 24
File No. 70-7367
(Public Utility Holding Company Act of 1935)
____________________________________________
In accordance with the Order of the Securities and Exchange
Commission ("Commission") in this File 70-7367 dated December 6, 1994
(HCAR No. 26181) Utility Constructors, Inc. ("UCI") hereby files, as
Exhibit "A", its balance sheet as of March 31, 1995 and, as Exhibit
"B", its income statement for the six months ended March 31, 1995.
During the first six months of its 1995 fiscal year, (six
months ended March 31, 1995) UCI continued its pipeline construction
and auxiliary construction and maintenance services for associate and
non-associate companies. During the six-month period, UCI undertook,
or completed approximately 11 projects.
Ten projects were undertaken for associate companies in New
York and Pennsylvania. Nine projects were done for National Fuel Gas
Supply Corporation ("Supply") (transmission pipeline and storage
pipeline and metering work) and one project was undertaken for
National Fuel Gas Distribution Corporation (road right-of-way
pipeline relocation work).
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One major project was completed for a non-associate company,
CNG Transmission Corp. This was the completion of a nine-mile
section of 30-inch diameter transmission pipeline described in the
last report.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this certificate to be signed this 15th day of May, 1995.
UTILITY CONSTRUCTORS, INC.
By_/s/David F. Smith____________
David F. Smith, Secretary
\jes\uci\rul24_7.wp
SEVENTH RULE 24 CERTIFICATE
SEC FILE NO. 70-7367 EXHIBIT "A"
UTILITY CONSTRUCTORS, INC.
BALANCE SHEET AT MARCH 31, 1995
(Unaudited)
ASSETS
Current Assets:
Cash $ 229,765
Accounts Receivable -
Contracts -
Intercompany 896,722
Miscellaneous 1,164,121
Materials and Supplies -
Prepayments 174,493
2,465,101
----------
Property, Plant and Equipment 9,778,592
Less: Acc. Depr, Depl & Amort 5,941,063
----------
3,837,528
----------
Other Assets:
Trade receivable - Long Term 2,259,233
Other 78,432
----------
2,337,665
$8,640,294
===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable -
Trade $ 279,846
Intercompany 28,395
Note Payable -
Intercompany 4,400,000
Income Taxes -
Federal (390,373)
State (136,826)
Other Accruals 543,211
Accrued Pension Contribution 90,508
-----------
4,814,761
----------
Other Liabilities:
Accumulated Deferred Income Taxes 182,344
Def. Credits & Long-Term Liabilities 640,374
-----------
822,718
----------
Stockholders' Equity:
Common Stock, No Par Value
Auth, Issued & Outstanding - 1,000 Sh 1,000
Paid-In-Capital 5,958,753
Earnings Reinvested in the Business (2,956,939)
----------
3,002,814
----------
$8,640,294
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SEVENTH RULE 24 CERTIFICATE
SEC FILE NO. 70-7367 EXHIBIT "B"
UTILITY CONSTRUCTORS, INC.
INCOME STATEMENT
(Unaudited)
SIX MONTHS ENDED MARCH 1995
CONTRACT REVENUES $6,518,893
----------
TOTAL REVENUES 6,518,893
----------
OPERATING EXPENSES
Operation Expense 5,850,737
Depreciation Expense 620,588
Property & Other Taxes 30,585
----------
6,501,910
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OPERATING INCOME (LOSS) 16,983
----------
OTHER INCOME
Interest - Other 213,845
Miscellaneous 119,365
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333,210
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INTEREST EXPENSE - Other 3,081
- Intercompany 178,363
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181,444
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NET INCOME (LOSS) BEFORE INCOME TAXES 168,749
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INCOME TAXES
Federal 80,777
State 0
Deferred (24,915)
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55,862
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NET INCOME (LOSS) $112,887
==========