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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of
THIRD
NATIONAL FUEL GAS COMPANY CERTIFICATE
LEIDY HUB, INC. PURSUANT TO
ELLISBURG-LEIDY NORTHEAST HUB COMPANY 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 four months ended
December 31, 1994. The four 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 December 31, 1994. Exhibit C is the income
statement of Leidy Hub, Inc. for the three and twelve months ended December
31, 1994, and Exhibit D is the balance sheet for Leidy Hub, Inc. at December
31, 1994.
IN WITNESS WHEREOF, the undersigned companies have duly caused this
Certificate to be signed this 14th day of February 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 Four Months Ended December 31, 1994.
(2) Exhibit B - Balance Sheet of Ellisburg-Leidy Northeast Hub Company as of
December 31, 1994.
(3) Exhibit C - Income Statement of Leidy Hub, Inc. for the Three and Twelve
Months Ended December 31, 1994.
(4) Exhibit D - Balance Sheet of Leidy Hub, Inc. as of December 31, 1994.
EXHIBIT A
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Four Months Ended
December 31, 1994 December 31, 1994
REVENUES
Gas Sales $5,325,292 $5,926,751
Wheeling Fees 5,560 5,560
Parking Fees 40,628 40,628
Other 54,792 43,269
Total Revenues 5,426,272 6,016,208
COST OF SALES
Gas Purchases 5,061,644 5,652,504
Parking 20,218 20,806
Transportation Cost 150 150
Wheeling 916 916
Other 59,714 50,838
Total Cost Of Sales 5,142,642 5,725,214
Gross Margin 283,630 290,994
General & Administrative
Allocation 81,000 108,000
Net Income $ 202,630 $ 182,994
EXHIBIT B
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
BALANCE SHEET
(UNAUDITED)
At December 31, 1994
CURRENT ASSETS
Cash $ 424,703
Accounts Receivable 3,191,880
Total Current Assets 3,616,583
PROPERTY & EQUIPMENT 28,812
TOTAL ASSETS $3,645,395
CURRENT LIABILITIES
Gas Purchase Payable $3,155,338
Transportation Payable 94,213
Total Current Liabilities 3,249,551
NON-CURRENT LIABILITIES
Deferred Revenue 164,300
Total Non-Current Liabilities 164,300
TOTAL LIABILITIES 3,413,851
EQUITY
Contributed Capital - Hub Services,
Inc. 125,641
Contributed Capital - Leidy Hub,
Inc. 105,903
Total Equity 231,544
TOTAL LIABILITIES & EQUITY $3,645,395
EXHIBIT C
LEIDY HUB, INC.
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Twelve Months Ended
December 31, 1994 December 31, 1994
Operating Expenses:
Operations Expense $ 817 $ 8,993
Other Taxes 300 5,719
Total Operating Expenses 1,117 14,712
Other Income:
Equity Interest in Ellisburg-Leidy 91,497 91,497
Miscellaneous 43 19,781
91,540 111,278
Other Deductions:
Interest-Assoc. Companies 2,122 11,110
Pretax Income 88,301 85,456
Income Taxes - Current 30,905 29,908
- Deferred - 822
30,905 30,730
Net Income $ 57,396 $ 54,726
EXHIBIT D
LEIDY HUB, INC.
BALANCE SHEET
(UNAUDITED)
At December 31, 1994
ASSETS
Current Assets:
Cash $ 96,562
Prepayments 6,063
Total Current Assets 102,625
Property, Plant & Equipment 3,208
Less: Reserve for DDA (3,208)
Property, Plant & Equipment -
Other Assets:
Investment in Ellisburg-Leidy
Northeast Hub Co. 105,903
Other Investments 602,592
Other Deferred Debit 49,724
Total Other Assets 758,219
Total Assets $ 860,844
LIABILITIES & STOCKHOLDERS EQUITY
Capital Stock $1 Par:
Authorized 4,000 shares issued
and outstanding $ 4,000
Paid-in-Capital 1,038,500
Retained Earnings (413,430)
Total Stockholders Equity 629,070
Current & Accrued Liabilities:
Notes Payable Assoc. Companies 200,000
Accounts Payable 849
Federal Income Taxes Payable 30,928
Other Accrued Taxes (3)
Total Current & Accrued Liabilites 231,774
Total Liabilities & Equity $ 860,844