|
|
|
|
|
|
|
|
|
|
|
|
|
PAGE 1 OF 2
UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of EIGHTH
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
September 30, 1995 and, as Exhibit "B" its income statement for
the twelve months ended September 30, 1995.
During its 1995 fiscal year, (twelve months ended
September 30, 1995) UCI discontinued its pipeline construction
and auxiliary construction and maintenance services for associate
and non-associate companies. UCI completed work on the 11
projects that were described in its last certificate pursuant to
Rule 24.
On May 15, 1995, UCI ceased active operations, and on
May 23, 1995, UCI auctioned all of its construction assets.
UCI's current activities consist only of collecting payments
PAGE 2 OF 2
pursuant to its outstanding deferred payment arrangements and the
winding up of worker's compensation and other claims.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this certificate to be signed this 9th day of February,
1996.
UTILITY CONSTRUCTORS, INC.
By_/s/ David F. Smith___________
David F. Smith, Secretary
\jes\uci\rul24_8.wp
EIGHTH RULE 24 CERTIFICATE
SEC FILE NO. 70-7367 EXHIBIT "A"
UTILITY CONSTRUCTORS, INC.
BALANCE SHEET AT SEPTEMBER 30, 1995
(Unaudited)
ASSETS
Current Assets:
Cash $ 77,155
Note Receivable - Intercompany 800,000
Accounts Receivable -
Contracts 287,239
Intercompany 33,313
Miscellaneous 15,000
Allowance for Doubtful Accounts (332,435)
Materials and Supplies 17,494
Prepayments 134,041
1,031,807
----------
Property, Plant and Equipment 682,246
Less: Acc. Depr, Depl & Amort 369,852
----------
312,394
----------
Other Assets:
Trade receivable - Long Term 2,259,233
Other 32,347
----------
2,291,580
$3,635,781
==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable -
Trade $ 49,993
Intercompany --
Dividend Payable 200,000
Note Payable -
Intercompany --
Other 192,388
Income Taxes -
Federal (1,314,047)
State (63,065)
-----------
(808,601)
-----------
Other Liabilities:
Accumulated Deferred Income Taxes (501,837)
Def. Credits & Long-Term Liabilities 812,921
-----------
311,084
----------
Stockholders' Equity:
Common Stock, No Par Value
Auth, Issued & Outstanding - 1,000 Sh 1,000
Paid-In-Capital 5,758,753
Earnings Reinvested in the Business (1,626,455)
----------
4,133,298
----------
$ 3,635,781
===========
EIGHTH RULE 24 CERTIFICATE
SEC FILE NO. 70-7367 EXHIBIT "B"
UTILITY CONSTRUCTORS, INC.
INCOME STATEMENT
(Unaudited)
TWELVE MONTHS ENDED SEPT. 1995
CONTRACT REVENUES
Pipeline $6,211,321
Service Rig 123,125
Other 1,108,047
----------
TOTAL REVENUES 7,442,493
----------
COST OF CONTRACT REVENUES 6,663,497
----------
GROSS PROFIT (LOSS) 778,996
----------
OPERATING EXPENSES
General & Administrative Expense 1,587,846
Depreciation Expense 674,548
Property & Other Taxes 129,818
Other 137,255
----------
2,529,467
----------
OPERATING INCOME (LOSS) (1,750,471)
----------
OTHER INCOME
Interest - Intercompany 28,851
Interest - Other 428,619
Miscellaneous 2,589,163
----------
3,046,633
----------
INTEREST EXPENSE - Other 3,805
- Intercompany 236,883
----------
NET INCOME (LOSS) BEFORE INCOME TAXES 1,055,474
----------
INCOME TAXES
Federal 257,104
State 96,442
Deferred - Federal (546,775)
Deferred - State (194,668)
----------
(387,897)
----------
NET INCOME (LOSS) $1,443,371
==========
|
|