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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
_____________________________________________
In the Matter of
SIXTEENTH
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 Three
and Twelve Months ended December 31, 1995. Also attached as Exhibit
"B", is the Balance Sheet of NFR as of December 31, 1995.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this Certificate to be signed this 29th day of January, 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_16.doc
EXHIBIT A
16TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Three Months Twelve Months
Ended Ended
December 1995 December 1995
Operating Revenues:
Gas - Retail $ 9,579,020 $ 8,374,874
Gas - Wholesale 797,647
Other (26,099) 310,203
____________ ____________
$10,350,568 $41,440,356
Operating Expenses:
Purchase Gas 9,456,836 37,298,982
General and Administrative 389,770 1,823,827
Depletion, Depreciation and Amortization 3,245 11,315
Franchise and Other Taxes 50,456 94,268
____________ ____________
$ 9,900,307 $39,228,392
Operating Income $ 450,261 $ 2,211,964
____________ ____________
Interest Income 69,886 323,571
Interest Expense 3,053 19,034
Amortization and Misc Deductions (36,872) (36,481)
____________ ____________
$ 103,705 $ 341,018
Net Income Before Tax $ 553,966 $ 2,552,982
____________ ____________
Income Taxes:
Federal 220,476 1,284,022
State 18,896 202,872
Deferred (34,434) (495,880)
____________ ____________
$ 204,938 $ 991,014
Net Income $ 349,028 $ 1,561,968
============ ============
EXHIBIT B (PAGE 1 OF 2)
16TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT DECEMBER 31, 1995
(Unaudited)
ASSETS
Current Assets:
Cash $ 54,490
Short Term Investments 2,843,772
Accounts Receivable 6,330,541
Accounts Receivable-Intercompany 20,116
Reserve for Doubtful Accounts (676,151)
Other Current Assets 1,794,377
____________
$10,367,145
Property, Plant, and Equipment
Furniture and Fixtures 68,582
Less - Accumulated Depreciation 17,573
____________
$51,009
Other Assets:
Long Term Investments 1,000,603
Other Deferred Debits 46,905
Deferred Tax Asset --
____________
$ 1,047,508
____________
$11,465,662
============
EXHIBIT B (PAGE 2 OF 2)
16TH RULE 24 CERTIFICATE
FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT DECEMBER 31, 1995
(Unaudited)
LIABILITIES
Current Liabilities:
Accounts Payable $ 1,750,008
Accrued Liabilities 568,247
Accrued Sales Tax 15,452
Current Income Taxes-Federal 134,045
-State 57,590
Accounts Payable-Intercompany 1,035,475
Dividends Payable 35,000
____________
3,595,817
Long Term Liabilities:
Deferred Income Taxes (180,823)
Miscellaneous Deferred Credits 484,847
____________
$ 304,023
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 4,135,822
Retained Earnings - Dividends (70,000)
____________
$ 7,565,822
____________
$11,465,622
============
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