|
|
|
|
|
|
|
|
|
|
|
|
|
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
_____________________________________________
In the Matter of
EIGHTEENTH
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 Nine
and Twelve Months ended June 30, 1996. Also attached as Exhibit
"B", is the Balance Sheet of NFR as of June 30, 1996.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this Certificate to be signed this 18th day of July, 1996.
NATIONAL FUEL RESOURCES, INC.
By:_/s/ R. J. Kreppel________
R. J. Kreppel, President
NATIONAL FUEL GAS COMPANY
By:_/s/ G. T. Wehrlin________
G. T. Wehrlin, Controller
\jes\nfr\rul24_18.doc
EXHIBIT A
18TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Nine Months Twelve Months
Ended Ended
June, 1996 June 1996
Operating Revenues:
Gas - Retail $46,222,809 $52,224,821
Gas - Wholesale 6,025,192 6,357,840
Other 465,755 473,685
____________ ____________
$52,713,756 $59,056,346
Operating Expenses:
Purchase Gas 48,491,636 54,309,385
General and Administrative 1,109,935 1,464,227
Depletion, Depreciation and Amortization 9,736 12,981
Franchise and Other Taxes 166,668 195,750
____________ ____________
$49,777,975 $55,982,343
Operating Income $ 2,935,781 $ 3,074,003
____________ ____________
Interest Income 294,266 395,514
Interest Expense 10,737 21,509
Amortization and Misc Deductions (79,494) (75,593)
____________ ____________
$ 359,023 $ 449,598
Net Income Before Tax $ 3,294,804 $ 3,523,601
____________ ____________
Income Taxes:
Federal 1,211,400 1,454,237
State 104,639 240,294
Deferred (98,283) (335,177)
____________ ____________
$ 1,217,756 $ 1,359,354
Net Income $ 2,077,048 $ 2,164,247
============ ============
EXHIBIT B (PAGE 1 OF 2)
18TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT JUNE 30, 1996
(Unaudited)
ASSETS
Current Assets:
Cash $ 223,987
Short Term Investments 10,778,175
Accounts Receivable 5,105,474
Accounts Receivable-Intercompany 51,973
Reserve for Doubtful Accounts (596,900)
Other Current Assets (576,838)
____________
$14,985,871
Property, Plant, and Equipment
Furniture and Fixtures 71,473
Less - Accumulated Depreciation 24,064
____________
$47,409
Other Assets:
Long Term Investments 700,880
Other Deferred Debits 89,992
Deferred Tax Asset --
____________
$ 790,872
____________
$15,824,152
============
EXHIBIT B (PAGE 2 OF 2)
18TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT JUNE 30, 1996
(Unaudited)
LIABILITIES
Current Liabilities:
Accounts Payable $ 2,072,507
Accrued Liabilities 600,783
Accrued Sales Taxes 8,927
Current Income Taxes-Federal (205,031)
-State 145,869
Accounts Payable-Intercompany 3,714,308
Dividends Payable 35,000
____________
6,372,362
Long Term Liabilities:
Deferred Income Taxes (244,672)
Miscellaneous Deferred Credits 472,620
____________
$ 227,948
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 5,863,842
Retained Earnings - Dividends (140,000)
____________
$ 9,223,842
____________
$15,824,152
============
|
|