File No. 70-8541
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
POST-EFFECTIVE AMENDMENT NO. 4 TO
FORM U-1
APPLICATION OR DECLARATION
under
the
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
------------------------------------------
National Fuel Gas Company National Fuel Gas
10 Lafayette Square Distribution Corporation
Buffalo, New York 14203 10 Lafayette Square
Buffalo, New York 14203
Seneca Resources Corporation National Fuel Gas Supply
10 Lafayette Square Corporation
Buffalo, New York 14203 10 Lafayette Square
Buffalo, New York 14203
National Fuel Resources, Inc. Utility Constructors, Inc.
10 Lafayette Square 10 Lafayette Square
Buffalo, New York 14203 Buffalo, New York 14203
Horizon Energy Development, Inc.
10 Lafayette Square
Buffalo, New York 14203
(Names of companies filing this statement
and addresses of principal executive offices)
---------------------------------------------
NATIONAL FUEL GAS COMPANY
(Name of top registered holding company)
---------------------------------------------
Philip C. Ackerman Robert J. Reger, Jr., Esq.
Senior Vice President Reid & Priest LLP
National Fuel Gas Company 40 West 57th Street
10 Lafayette Square New York, New York 10019
Buffalo, New York 14203
(Names and addresses of agents for service)
<PAGE>
Item 1. Description of Proposed Transactions.
The following paragraphs are hereby added to Item 1:
"Request for Authority Regarding Investments in EWGs and FUCOs
--------------------------------------------------------------
For purposes of investments made in Project Activities, no
such investment will be made unless at the time of the
investment, National's and Horizon's "aggregate investment" in
Project Activities (as defined in File No. 70-8649) does not
exceed 50% of National's "consolidated retained earnings" as
required by the safe harbor provisions set forth in Rule 53 under
the Holding Company Act for investments in EWGs. To come within
the safe harbor of Rule 53, the amount of a registered holding
company's aggregate investments in EWGs and FUCOs cannot exceed
50% of all system's average consolidated retained earnings over
the past four quarters. Under this limitation, the National
system's present investment limitation, as of September 30, 1995,
is approximately $196 million. National and Horizon will comply
with all other applicable rules under the Holding Company Act,
including, without limitations, such rules as may be promulgated
in the future pursuant to Section 33 of the Holding Company Act.
National and Horizon have received an exemption from
Section 13 and Rule 83 of the Holding Company Act (see File No.
70-8649), so that any subsidiary of National may provide services
at market rates in regard to EWGs and FUCOs involving entities
that do not derive, directly or indirectly, any material part of
their income form sources within the United States and are not
public utility companies operating in the United States. In no
instance, however, will such services be provided below cost.
<PAGE>
Neither National nor any subsidiary company of National
has been the subject of a bankruptcy or similar proceeding.
National has not reported operating losses, in excess
of 5% of consolidated retained earnings, attributable to direct
or indirect investments in EWGs and FUCOs. Accordingly, such
investments do not present a risk of substantial adverse impact
as described in Section 32 and 33 of the Holding Company Act and
Rule 53.
National will comply with Rule 53(a)(2) with regard to
the maintenance of books and records in connection with
investments in EWGs or FUCOs in which it directly or indirectly
holds an interest.
Interest Rate Swap Requirements
-------------------------------
In conjunction with Horizon's long-term financing plan,
Horizon requests authority to participate in National's interest
rate swap program whereby National enters into Swap and
Derivative Transactions directly related to then-outstanding
long-or short-term debt."
<PAGE>
SIGNATURES
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned companies have duly
caused this post-effective amendment to be signed on their behalf
by the undersigned thereunto duly authorized.
NATIONAL FUEL GAS COMPANY
By /s/ Gerald T. Wehrlin
---------------------
Gerald T. Wehrlin
Controller
NATIONAL FUEL GAS
DISTRIBUTION CORPORATION
By /s/ Gerald T. Wehrlin
---------------------
Gerald T. Wehrlin
Senior Vice President,
Controller
SENECA RESOURCES CORPORATION
By /s/ Gerald T. Wehrlin
---------------------
Gerald T. Wehrlin
Secretary, Treasurer and
Controller
NATIONAL FUEL GAS SUPPLY
CORPORATION
By /s/ Joseph P. Pawlowski
-----------------------
Joseph P. Pawlowski
Treasurer
NATIONAL FUEL RESOURCES, INC.
By /s/ Robert J. Kreppel
---------------------
Robert J. Kreppel
President
<PAGE>
UTILITY CONSTRUCTORS, INC.
By /s/ Joseph P. Pawlowski
-----------------------
Joseph P. Pawlowski
Treasurer
HORIZON ENERGY DEVELOPMENT, INC.
By /s/ Gerald T. Wehrlin
---------------------
Gerald T. Wehrlin
Secretary
DATED: January 12, 1996
