UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
NATIONAL FUEL GAS COMPANY FIRST
NATIONAL FUEL GAS DISTRIBUTION CORPORATION CERTIFICATE
NATIONAL FUEL GAS SUPPLY CORPORATION PURSUANT TO
SENECA RESOURCES CORPORATION RULE 24
UTILITY CONSTRUCTORS, INC.
HIGHLAND LAND & MINERALS, INC.
LEIDY HUB, INC.
DATA-TRACK ACCOUNT SERVICES, INC.
NATIONAL FUEL RESOURCES, INC.
HORIZON ENERGY DEVELOPMENT, INC.
File No. 70-8729
(Public Utility Holding Company Act of 1935)
____________________________________________
THIS IS TO CERTIFY, pursuant to Rule 24, that certain
transactions proposed by National Fuel Gas Company ("National") and
its subsidiaries, National Fuel Gas Distribution Corporation
("Distribution Corporation"), National Fuel Gas Supply Corporation
("Supply Corporation"), Seneca Resources Corporation ("Seneca"),
Utility Constructors, Inc. ("UCI"), Highland Land & Minerals, Inc.
("Highland"), Leidy Hub, Inc. ("Leidy"), Data-Track Account Services,
Inc. ("Data-Track"), National Fuel Resources, Inc. ("NFR") and
Horizon Energy Development, Inc. ("Horizon Energy") in Form U-1,
Application-Declaration, File No. 70-8729, as amended, have been
carried out in accordance with the terms and conditions, and for the
purposes as represented by said Application-Declaration, and the
Order of the Securities and Exchange Commission ("Commission") (HCAR
No. 35-26443 dated December 28, 1995) with respect thereto. Note
that, on July 1, 1994, Penn-York Energy Corporation ("Penn-York")
merged with Supply Corporation, with Supply Corporation as the
surviving entity (see File No. 70-8135, HCAR No. 35-25811). Because
of certain FERC ratemaking considerations, Supply Corporation found
it necessary to separately account for Penn-York associated
borrowings until the FERC approved of Supply Corporation's tariff
rates that effected the combination of the Supply Corporation and
Penn-York assets.
During the quarter ended March 31, 1996 the following
borrowing transactions occurred:
1. Sales and resales of commercial paper for the quarter
are shown on the attached certificates of Merrill Lynch
Money Markets, Inc. and Chase Securities, Inc.
2. National increased its outstanding borrowings by
issuing short-term notes to banks or other financial
institutions in the amounts on the dates and at the
rates indicated below. The proceeds from the sales of
these notes were either used by National for its own
corporate purposes or transferred by National to the
System Money Pool to be utilized by National's
subsidiaries. This schedule also reflects renewals at
different rates.
DATE AMOUNT RATE
1/2/96 $11,700,000 5.84%
1/2/96 900,000 5.85
1/3/96 7,100,000 6.60
1/3/96 2,100,000 5.82
1/4/96 5,200,000 5.85
1/5/96 2,400,000 5.57
1/8/96 8,200,000 5.78
1/9/96 4,600,000 5.72
1/10/96 200,000 5.53
1/12/96 11,800,000 5.57
1/16/96 10,600,000 5.76
1/16/96 10,000,000 5.64
1/17/96 10,800,000 6.09
1/18/96 7,600,000 5.65
1/19/96 5,600,000 5.53
1/22/96 12,700,000 5.54
1/23/96 9,700,000 5.52
1/24/96 4,300,000 5.56
1/25/96 25,200,000 5.60
1/26/96 5,000,000 5.60
1/26/96 10,000,000 5.60
1/26/96 12,100,000 5.61
1/29/96 9,000,000 5.65
1/30/96 4,800,000 5.65
1/31/96 25,900,000 5.97
2/1/96 15,100,000 5.39
2/2/96 16,000,000 5.20
2/5/96 13,700,000 5.35
2/7/96 7,100,000 5.32
2/7/96 10,200,000 5.28
2/8/96 5,300,000 5.27
2/9/96 6,200,000 5.27
2/12/96 12,000,000 5.36
2/13/96 7,900,000 5.28
2/14/96 1,000,000 5.48
2/16/96 8,800,000 5.25
2/20/96 28,800,000 5.31
2/20/96 5,400,000 5.30
2/21/96 25,400,000 5.26
2/22/96 19,800,000 5.26
2/23/96 17,400,000 5.28
2/26/96 16,700,000 5.28
2/26/96 40,000,000 5.26
2/27/96 8,900,000 5.28
2/27/96 50,000,000 5.28
2/28/96 4,000,000 5.50
2/29/96 13,900,000 5.50
3/4/96 5,800,000 5.45
3/5/96 2,600,000 5.35
3/25/96 14,100,000 5.35
3/26/96 8,400,000 5.37
3/27/96 10,000,000 5.69
3/28/96 7,600,000 5.55
3/29/96 20,500,000 5.57
This quarter CitiBank increased National's uncommitted
credit facility to $75,000,000 and National entered
into a $25,000,000 uncommitted credit facility with
Barclays Bank PLC.
3. Supply Corporation (non-Penn-York) transferred the
following amounts to the System Money Pool on the dates
and at the rates indicated below. These amounts were
either used to decrease outstanding System borrowings
and/or commercial paper or utilized by National's other
subsidiaries.
None.
4. Supply Corporation (non-Penn-York) borrowed the
following amounts from the System Money Pool on the
dates and at the rates indicated below.
DATE AMOUNT RATE
1/4/96 $ 300,000 5.80%
1/5/96 100,000 5.79
1/8/96 300,000 5.79
1/11/96 200,000 5.79
1/12/96 5,200,000 5.76
1/16/96 4,900,000 5.77
1/17/96 200,000 5.78
1/18/96 200,000 5.76
1/19/96 500,000 5.74
1/22/96 300,000 5.71
1/24/96 300,000 5.71
1/25/96 300,000 5.70
1/31/96 2,100,000 5.73
2/1/96 3,500,000 5.66
2/2/96 300,000 5.65
2/5/96 200,000 5.64
2/7/96 200,000 5.64
2/8/96 400,000 5.65
2/12/96 400,000 5.65
2/13/96 200,000 5.63
2/14/96 200,000 5.65
2/15/96 300,000 5.65
2/16/96 1,100,000 5.63
2/20/96 100,000 5.54
2/21/96 300,000 5.54
2/22/96 500,000 5.55
2/23/96 700,000 5.53
2/28/96 800,000 5.49
2/29/96 700,000 5.48
3/7/96 200,000 5.47
3/8/96 100,000 5.47
3/11/96 200,000 5.45
3/12/96 100,000 5.45
3/14/96 200,000 5.45
3/15/96 4,500,000 5.45
3/18/96 700,000 5.45
3/19/96 100,000 5.45
3/20/96 800,000 5.45
3/28/96 200,000 5.42
3/29/96 1,100,000 5.44
Supply Corporation (Penn-York related) borrowed the
following amounts from the System Money Pool on the
dates and at the rates indicated below.
DATE AMOUNT RATE
1/3/96 100,000 5.81%
1/9/96 1,400,000 5.79
1/26/96 100,000 5.70
1/30/96 100,000 5.71
1/31/96 600,000 5.73
2/2/96 100,000 5.65
2/5/96 600,000 5.64
2/28/96 300,000 5.49
3/15/96 500,000 5.45
3/20/96 100,000 5.45
3/28/96 100,000 5.42
3/29/96 100,000 5.44
5. Distribution Corporation transferred the following
amounts to the System Money Pool on the dates and at
the rates indicated below. These amounts were either
used to decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
None.
6. Distribution Corporation borrowed the following amounts
from the System Money Pool on the dates and at the
rates indicated below:
DATE AMOUNT RATE
1/12/96 5,900,000 5.76%
1/16/96 3,000,000 5.77
1/22/96 2,200,000 5.71
1/25/96 27,100,000 5.70
1/26/96 10,400,000 5.70
1/31/96 2,500,000 5.73
2/20/96 1,600,000 5.54
2/26/96 40,500,000 5.49
2/27/96 3,900,000 5.48
3/25/96 10,300,000 5.41
3/26/96 1,600,000 5.41
3/27/96 1,500,000 5.44
3/29/96 8,500,000 5.44
7. National transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's subsidiaries.
DATE AMOUNT RATE
1/3/96 $ 900,000 5.81%
1/4/96 100,000 5.80
1/5/96 100,000 5.79
1/8/96 100,000 5.79
1/9/96 100,000 5.79
1/10/96 100,000 5.79
1/11/96 100,000 5.79
1/12/96 300,000 5.78
1/18/96 300,000 5.76
1/22/96 400,000 5.71
1/23/96 400,000 5.71
1/24/96 400,000 5.71
1/25/96 400,000 5.70
1/26/96 400,000 5.70
1/29/96 400,000 5.71
1/30/96 600,000 5.71
1/31/96 400,000 5.73
2/2/96 1,300,000 5.65
2/14/96 300,000 5.65
2/16/96 100,000 5.63
2/28/96 600,000 5.49
3/5/96 1,000,000 5.49
3/20/96 300,000 5.45
3/28/96 300,000 5.42
8. Seneca transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
None.
9. Seneca borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
1/02/96 $ 500,000 5.80%
1/05/96 1,500,000 5.80
1/08/96 600,000 5.79
1/09/96 2,600,000 5.79
1/11/96 1,200,000 5.79
1/12/96 400,000 5.76
1/16/96 700,000 5.77
1/18/96 500,000 5.76
1/24/96 300,000 5.71
1/29/96 100,000 5.71
1/30/96 1,800,000 5.71
1/31/96 2,500,000 5.73
2/01/96 1,400,000 5.66
2/05/96 200,000 5.64
2/06/96 100,000 5.64
2/07/96 100,000 5.64
2/09/96 100,000 5.64
2/12/96 1,000,000 5.65
2/13/96 400,000 5.63
2/14/96 100,000 5.65
2/15/96 200,000 5.65
2/21/96 200,000 5.54
2/22/96 400,000 5.55
2/23/96 400,000 5.53
2/26/96 100,000 5.49
2/27/96 1,300,000 5.48
2/28/96 600,000 5.49
2/29/96 1,100,000 5.48
3/04/96 200,000 5.49
3/05/96 600,000 5.49
3/06/96 100,000 5.50
3/11/96 500,000 5.45
3/14/96 200,000 5.45
3/18/96 100,000 5.45
3/21/96 100,000 5.45
3/27/96 1,100,000 5.44
3/29/96 3,100,000 5.44
10. UCI transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
DATE AMOUNT RATE
1/16/96 $1,200,000 5.77%
1/17/96 1,200,000 5.78
1/18/96 1,200,000 5.76
1/19/96 1,200,000 5.74
1/22/96 1,200,000 5.71
1/23/96 1,200,000 5.71
1/24/96 1,400,000 5.71
1/25/96 1,400,000 5.70
1/26/96 1,400,000 5.70
1/29/96 1,600,000 5.71
1/30/96 1,600,000 5.71
1/31/96 1,600,000 5.73
2/26/96 100,000 5.49
11. UCI borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
12. Highland transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
1/8/96 $ 900,000 5.79%
1/9/96 900,000 5.79
1/10/96 900,000 5.79
1/10/96 900,000 5.79
1/12/96 900,000 5.76
1/16/96 800,000 5.77
1/17/96 800,000 5.78
1/18/96 800,000 5.76
1/19/96 800,000 5.74
1/22/96 800,000 5.71
1/23/96 800,000 5.71
1/24/96 800,000 5.71
1/25/96 800,000 5.70
1/26/96 800,000 5.70
1/29/96 2,000,000 5.71
1/30/96 2,000,000 5.71
1/31/96 2,000,000 5.73
13. Highland borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
14. Leidy transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
None.
15. Leidy borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
16. Data-Track transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
1/4/96 $100,000 5.80%
1/5/96 100,000 5.79
1/8/96 500,000 5.79
1/9/96 500,000 5.79
1/10/96 500,000 5.79
1/11/96 500,000 5.79
1/12/96 500,000 5.76
1/16/96 500,000 5.77
1/17/96 500,000 5.78
1/18/96 500,000 5.76
1/19/96 500,000 5.74
1/22/96 500,000 5.71
1/23/96 500,000 5.71
1/24/96 500,000 5.71
1/25/96 500,000 5.70
1/26/96 500,000 5.70
1/29/96 500,000 5.71
1/30/96 500,000 5.71
1/31/96 500,000 5.73
17. Data-Track borrowed the following amounts from the
System Money Pool on the dates and at the rates
indicated below:
None.
18. NFR transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
DATE AMOUNT RATE
1/3/96 $ 100,000 5.81%
1/4/96 300,000 5.80
1/5/96 300,000 5.79
1/8/96 500,000 5.79
1/9/96 1,300,000 5.79
1/10/96 1,600,000 5.79
1/11/96 1,600,000 5.79
1/12/96 2,000,000 5.76
1/16/96 2,600,000 5.77
1/17/96 3,700,000 5.78
1/18/96 3,900,000 5.76
1/19/96 3,900,000 5.74
1/22/96 3,700,000 5.71
1/23/96 3,700,000 5.71
1/24/96 3,900,000 5.71
1/25/96 3,900,000 5.70
1/26/96 3,900,000 5.70
1/26/96 3,500,000 5.71
1/30/96 4,200,000 5.71
1/31/96 4,200,000 5.73
2/1/96 100,000 5.66
2/2/96 100,000 5.65
2/5/96 100,000 5.64
2/12/96 1,600,000 5.65
2/13/96 300,000 5.63
2/14/96 300,000 5.65
2/15/96 200,000 5.65
2/16/96 800,000 5.63
2/20/96 400,000 5.54
2/21/96 200,000 5.54
2/22/96 100,000 5.55
3/1/96 100,000 5.52
3/4/96 100,000 5.49
3/5/96 600,000 5.49
3/6/96 100,000 5.50
3/7/96 1,200,000 5.47
3/11/96 1,700,000 5.45
3/12/96 200,000 5.45
3/15/96 900,000 5.45
3/18/96 400,000 5.45
3/19/96 300,000 5.45
19. NFR borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
20. Horizon Energy transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
None.
21. Horizon Energy borrowed the following amounts from the
System Money Pool on the dates and at the rates
indicated below:
DATE AMOUNT RATE
1/11/96 $ 100,000 5.79
1/12/96 200,000 5.76
1/16/96 400,000 5.77
1/24/96 100,000 5.71
1/29/96 100,000 5.71
1/31/96 200,000 5.73
2/8/96 200,000 5.65
2/15/96 100,000 5.65
2/28/96 100,000 5.49
2/29/96 100,000 5.48
3/1/96 200,000 5.52
3/8/96 100,000 5.47
3/12/96 100,000 5.45
3/18/96 100,000 5.45
3/27/96 100,000 5.44
3/29/96 100,000 5.44
Dated: May 17, 1996 NATIONAL FUEL GAS COMPANY
By:/s/Gerald T. Wehrlin
Gerald T. Wehrlin
Controller
Chase Securities, Inc. Marco E. Tejada
One Chase Manhattan Plaza Associate
New York, New York 10081
Phone: (212) 552-6312
Fax: (212) 552-4657
April 16, 1996
Ms. Donna Cambas
National Fuel Gas Company
10 Lafayette Square
11th Floor
Buffalo, NY 14203
Dear Ms. Cambas,
The enclosed statement presents the U.S. commercial paper activiity of
National Fuel Gas Company for the first quarter of 1996, during which time
Chase Securities, Inc. served as Dealer.
If you have any questions or require additional information, please feel
free to contact me at (212) 552-6312.
Sincerely,
/s/ Marco E. Tejada
MET/fjj
Enc.
Chase Securities, Inc.
NATIONAL FUEL GAS COMPANY
U.S. Commercial Paper Statement
(in thousands)
TRANS. PAR ISSUE MAT.
NO. AMT. DATE DATE DAY RATE H.15 SPREAD LIBOR SPREAD
JANUARY
1 12,000 01/12/96 04/11/96 90 5.450 5.43 0.020 5.42 0.030
2 10,000 01/19/96 04/25/96 97 5.400 5.38 0.020 5.42 -0.020
3 15,000 01/22/96 04/25/96 94 5.400 5.37 0.030 5.42 -0.020
________________________________________________________________________________
37,000 TOTAL MONTHLY PAR AMT 0.023 AVG. SPREAD VS. H-15
-0.003 AVG. SPREAD VS. LIBOR
FEBRUARY
4 13,000 02/01/96 05/06/96 95 5.230 5.21 0.020 5.24 -0.010
5 10,000 02/05/96 04/19/96 74 5.250 5.25 0.000 5.31 -0.060
6 10,000 02/20/96 5/28/96 98 5.180 5.14 0.040 5.18 0.000
7 10,000 02/23/96 03/01/96 7 5.270 5.26 0.010 5.30 -0.030
________________________________________________________________________________
43,000 TOTAL MONTHLY PAR AMT 0.018 AVG. SPREAD VS. H-15
-0.025 AVG. SPREAD VS. LIBOR
STATEMENT AVERAGES
0.020 AVG. SPREAD VS H-15
-0.016 AVG. SPREAD VS LIBOR
Global Money Markets
Corporate and Institutional
Client Group
World Financial Center
North Tower
New York, New York 10281-1310
212 449 1000
FAX 212 449 1786
Telex 671 6340
MERRILL LYNCH
April 16, 1996
Ms. Donna Cambas
National Fuel Gas Company
10 Lafayette Square - Room 1100
Buffalo, NY 14203
Dear Donna:
This is to advise you that in connection with the distribution of commercial
paper of National Fuel Gas Company from January 1, 1996 to March 31, 1996 no
sales or resales were made by Merrill Lynch Money Markets Inc. for National
Fuel Gas Company's commercial paper program. A summary of all trade activity
for the quarter is attached, which reflects no sales or resales took place for
the period indicated.
Sincerely,
/s/ Michael J. Maita
Michael J. Maita
Enclosure
PROGRAM ISSUANCE TRADE DETAIL - CP
01/01/96 - 03/31/96
Pgm Fx/F1 Trade Dt Sett Dt MTY DTM PAR Rate Proceeds
TOTALS
______
Number of Trans: 0
Total Par 0
Total Proceeds 0
Dollar Weighted Averages
________________________
Days to Mty: NaN
Rate: NaN
Programs:
N1 NATIONAL FUEL GAS CO.
04/16/96 page 2
