|
|
|
|
|
|
|
|
|
|
|
|
|
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY FOURTH
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, which occurred in February 1996. Accordingly,
beginning in October 1996, the start of fiscal year 1997, separate books and
financial statements are not kept and starting with this filing no such separate
accounting will be made.
During the quarter ended December 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 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
10/01/96 $25,600,000 5.49%
10/02/96 26,300,000 5.36
10/03/96 24,100,000 5.26
10/04/96 10,700,000 5.21
10/04/96 15,000,000 5.17
10/07/96 10,000,000 5.48
10/07/96 15,000,000 5.24
10/07/96 1,800,000 5.27
10/08/96 14,000,000 5.21
10/09/96 13,700,000 5.53
10/10/96 12,600,000 5.33
10/11/96 6,000,000 5.37
10/11/96 10,000,000 5.38
10/11/96 4,400,000 5.27
10/15/96 20,700,000 5.50
10/16/96 24,000,000 5.33
10/17/96 24,800,000 5.27
10/18/96 10,000,000 5.18
10/18/96 15,000,000 5.22
10/21/96 22,000,000 5.27
10/22/96 11,800,000 5.28
10/23/96 10,700,000 5.54
10/24/96 9,900,000 5.34
10/25/96 10,000,000 5.48
10/25/96 5,000,000 5.42
10/25/96 17,100,000 5.27
10/28/96 12,700,000 5.40
10/29/96 15,900,000 5.34
10/30/96 14,300,000 5.38
10/30/96 15,000,000 5.48
10/31/96 25,000,000 5.69
11/01/96 24,600,000 5.60
11/04/96 35,600,000 5.37
11/05/96 33,600,000 5.25
11/06/96 21,900,000 5.58
11/07/96 7,900,000 5.35
11/08/96 12,300,000 5.28
11/12/96 20,700,000 5.42
11/13/96 17,800,000 5.35
11/14/96 16,300,000 5.35
11/15/96 10,000,000 5.49
11/15/96 18,300,000 5.68
11/18/96 14,300,000 5.41
11/19/96 12,800,000 5.25
11/20/96 18,700,000 5.50
11/21/96 17,700,000 5.30
11/22/96 14,200,000 5.20
11/25/96 20,100,000 5.35
11/25/96 15,000,000 5.49
11/26/96 16,900,000 5.30
11/27/96 23,900,000 5.45
11/29/96 25,000,000 5.95
12/02/96 22,000,000 5.80
12/03/96 12,700,000 5.50
12/03/96 5,000,000 5.50
12/04/96 8,800,000 5.43
12/05/96 5,000,000 5.36
12/06/96 5,400,000 5.26
12/09/96 16,400,000 5.32
12/10/96 19,900,000 5.25
12/11/96 14,300,000 5.25
12/12/96 12,400,000 5.25
12/13/96 11,700,000 5.25
12/16/96 17,100,000 5.58
12/17/96 16,100,000 5.37
12/18/96 12,700,000 5.81
12/19/96 9,200,000 5.38
12/20/96 10,000,000 5.52
12/20/96 12,500,000 5.20
12/23/96 21,100,000 5.34
12/24/96 23,500,000 5.30
12/26/96 15,000,000 5.32
12/26/96 42,600,000 5.36
12/27/96 8,200,000 5.40
12/30/96 6,300,000 5.58
12/31/96 25,000,000 5.49
12/31/96 4,700,000 7.10
3. National increased its outstanding borrowings to be used for
its own corporate purposes by issuing short-term notes to banks
or other financial institutions in the amounts on the dates and
at the rates indicated below:
None.
4. 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.
<TABLE>
<CAPTION>
DATE AMOUNT RATE
<C> <C> <C>
10/02/96 $800,000 5.46%
10/17/96 400,000 5.45
10/18/96 100,000 5.43
10/21/96 1,700,000 5.44
11/01/96 3,100,000 5.47
11/18/96 100,000 5.44
11/20/96 100,000 5.45
11/22/96 1,300,000 5.43
12/03/96 1,100,000 5.45
12/12/96 200,000 5.43
12/26/96 100,000 5.42
</TABLE>
<PAGE>
5. Supply 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. Supply Corporation borrowed the following amounts
from the System Money Pool on the dates and at the rates
indicated below.
<TABLE>
<CAPTION>
DATE AMOUNT RATE
<C> <C> <C>
10/02/96 $ 800,000 5.46%
10/03/96 100,000 5.45
10/04/96 700,000 5.44
10/07/96 100,000 5.46
10/08/96 100,000 5.46
10/09/96 300,000 5.49
10/10/96 100,000 5.47
10/15/96 6,500,000 5.47
10/16/96 1,300,000 5.46
10/17/96 100,000 5.45
10/18/96 200,000 5.43
10/21/96 300,000 5.44
10/22/96 300,000 5.45
10/23/96 300,000 5.46
10/24/96 100,000 5.45
10/29/96 200,000 5.45
10/30/96 1,000,000 5.45
10/31/96 2,900,000 5.48
11/01/96 1,100,000 5.47
11/04/96 100,000 5.44
11/05/96 600,000 5.42
11/06/96 100,000 5.46
11/08/96 1,400,000 5.44
11/15/96 700,000 5.47
11/18/96 600,000 5.44
11/20/96 500,000 5.45
11/22/96 100,000 5.43
11/25/96 300,000 5.44
12/03/96 300,000 5.45
12/04/96 100,000 5.45
12/05/96 200,000 5.45
12/06/96 100,000 5.44
12/12/96 100,000 5.43
12/13/96 200,000 5.43
12/16/96 1,300,000 5.45
12/18/96 300,000 5.46
12/20/96 1,100,000 5.43
12/23/96 600,000 5.43
12/24/96 100,000 5.42
12/30/96 700,000 5.43
12/31/96 10,400,000 5.46
</TABLE>
7. 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.
8. Distribution Corporation borrowed the following
amounts from the System Money Pool on the dates and at the
rates indicated below:
<TABLE>
<CAPTION>
DATE AMOUNT RATE
<C> <C> <C>
10/02/96 $ 600,000 5.46%
10/04/96 900,000 5.44
10/15/96 8,200,000 5.47
10/16/96 1,100,000 5.46
10/17/96 1,300,000 5.45
10/21/96 2,200,000 5.44
10/25/96 24,300,000 5.45
10/31/96 5,500,000 5.48
11/01/96 1,300,000 5.47
11/20/96 400,000 5.45
11/25/96 19,000,000 5.44
11/27/96 7,600,000 5.45
11/29/96 2,100,000 5.50
12/16/96 3,000,000 5.45
12/20/96 1,800,000 5.43
12/23/96 7,100,000 5.43
12/26/96 47,200,000 5.42
12/31/96 7,800,000 5.46
</TABLE>
9. 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.
10. Seneca borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated below:
<TABLE>
<CAPTION>
DATE AMOUNT RATE
<C> <C> <C>
10/02/96 $100,000 5.46%
10/07/96 1,200,000 5.46
10/09/96 1,100,000 5.49
10/10/96 200,000 5.47
10/15/96 500,000 5.47
10/16/96 1,000,000 5.46
10/18/96 100,000 5.43
10/23/96 300,000 5.46
10/28/96 1,100,000 5.46
10/29/96 4,400,000 5.45
10/31/96 2,300,000 5.48
11/01/96 100,000 5.47
11/04/96 2,300,000 5.44
11/05/96 100,000 5.42
11/12/96 600,000 5.44
11/13/96 300,000 5.43
11/14/96 200,000 5.43
11/15/96 2,000,000 5.47
11/18/96 1,300,000 5.44
11/19/96 500,000 5.43
11/25/96 400,000 5.44
11/26/96 600,000 5.44
11/27/96 5,900,000 5.45
12/06/96 1,200,000 5.44
12/09/96 3,300,000 5.43
12/11/96 1,100,000 5.43
12/13/96 100,000 5.43
12/16/96 3,800,000 5.45
12/17/96 3,100,000 5.44
12/23/96 200,000 5.43
12/24/96 200,000 5.42
12/31/96 1,200,000 5.46
</TABLE>
11. 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.
<TABLE>
<CAPTION>
DATE AMOUNT RATE
<C> <C> <C>
11/01/96 $ 100,000 5.47%
11/22/96 100,000 5.43
12/16/96 100,000 5.45
</TABLE>
12. UCI borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated below:
None.
13. 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
12/16/96 $ 100,000 5.45%
14. Highland borrowed the following amounts from the
System Money Pool on the dates and at the rates indicated below:
None.
<PAGE>
15. 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.
16. Leidy borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated below:
DATE AMOUNT RATE
11/01/96 $ 100,000 5.47%
17. 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.
None.
18. Data-Track borrowed the following amounts from the
System Money Pool on the dates and at the rates indicated below:
None.
19. 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.
<TABLE>
<CAPTION>
DATE AMOUNT RATE
<C> <C> <C>
10/03/96 $ 300,000 5.45%
10/10/96 200,000 5.47
10/15/96 300,000 5.47
10/16/96 100,000 5.46
10/21/96 100,000 5.44
10/22/96 100,000 5.45
10/31/96 100,000 5.48
11/05/96 200,000 5.42
11/06/96 100,000 5.46
11/07/96 100,000 5.44
11/12/96 100,000 5.44
11/13/96 300,000 5.43
11/14/96 100,000 5.43
11/21/96 200,000 5.43
12/02/96 300,000 5.48
12/04/96 200,000 5.45
12/09/96 100,000 5.43
12/11/96 600,000 5.43
12/16/96 100,000 5.45
12/17/96 400,000 5.44
12/19/96 100,000 5.44
12/20/96 500,000 5.43
12/24/96 200,000 5.42
</TABLE>
20. NFR borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated below:
None.
21. 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.
22. Horizon Energy borrowed the following amounts from
the System Money Pool on the dates and at the rates indicated
below:
<TABLE>
<CAPTION>
DATE AMOUNT RATE
<C> <C> <C>
10/01/96 $ 100,000 5.48%
10/03/96 400,000 5.45
10/11/96 200,000 5.47
10/15/96 100,000 5.47
10/22/96 100,000 5.45
10/24/96 700,000 5.45
10/29/96 200,000 5.45
10/30/96 200,000 5.45
11/01/96 100,000 5.47
11/14/96 200,000 5.43
11/27/96 400,000 5.45
12/09/96 100,000 5.43
12/11/96 100,000 5.43
12/12/96 200,000 5.43
12/20/96 200,000 5.43
</TABLE>
Dated: February 14, 1997 NATIONAL FUEL GAS COMPANY
By:/s/Gerald T. Wehrlin
Gerald T. Wehrlin
Controller
Chase Securities, Inc.
270 Park Avenue
New York, New York 10017-2070
January 9, 1997
Ms. Donna Cambas
National Fuel Gas Company
10 Lafayette Square - Room 1500
Buffalo, New York 14203
Dear Ms. Cambas,
The is to advise you that in connection with the distribution of commercial
paper for the National Fuel Gas Company from October 1, 1996 to December 31,
1996 all sales and resales on your behalf by Chase Securities, Inc. were made
only to those customers included in the Confidential List retained by the
corporation of National Fuel Gas Company's commercial paper program. The
issuance of National Fuel Gas Company commercial paper and sales thereof were
made in accordance with the provisions of that program. A summary of all trade
activitiy for the quarter is attached.
Sincerely,
/s/ Anton J. Schubert
Anton J. Schubert
Vice President
<PAGE>
Chase Securities, Inc.
270 Park Avenue
New York, NY 10017-2070
<TABLE>
<CAPTION>
NATIONAL FUEL GAS COMPANY
Fourth Quarter Performance Report
PAR ISSUE MATURITY
AMOUNT DATE DATE RATE YIELD TERM TYPE
<C> <C> <C> <C> <C> <C> <C>
10,000,000 10/07/96 01/06/97 5.43 5.505 91 Days Discounted
10,000,000 11/06/96 01/13/97 5.38 5.4350 68 Days Discounted
10,000,000 11/07/96 02/05/97 5.38 5.4530 90 Days Discounted
10,000,000 11/18/96 02/12/97 5.40 5.470 86 Days Discounted
10,000,000 12/04/96 03/11/97 5.41 5.490 97 Days Discounted
5,000,000 12/06/96 02/10/97 5.45 5.505 66 Days Discounted
10,000,000 12/06/96 03/11/97 5.40 5.478 95 Days Discounted
15,000,000 12/16/96 03/17/97 5.45 4.526 91 Days Discounted
- ----------
80,000,000
</TABLE>
/s/Anton J. Schubert
Anton J. Schubert, Vice President
Global Money Markets
Corporate and Institutional
Client Group
World Financial Center
North Tower
New York, New York 10281-1311
212 449 1000
FAX 212 449 1786
Telex 671 6340
MERRILL LYNCH
January 6, 1997
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 October 1, 1996 to December 31, 1996 all
sales or resales were made only to those customers on the Confidential List
retained by Merrill Lynch Money Markets Inc. for National Fuel Gas Company's
commercial paper program, and the sales thereof were in accordance with the
provisions of that program. A summary of all trade activity for the quarter is
attached.
Sincerely,
/s/ Michael J. Maita
Michael J. Maita
Enclosure
<PAGE>
PROGRAM ISSUANCE TRADE DETAIL - CP
10/01/96 - 12/31/96
Pgm Fx/F1 Trade Dt Sett Dt MTY DTM PAR Rate Proceeds
N1 10/18/96 10/18/96 11/22/96 35 15,000,000 5.350 14,921,979
N1 10/22/96 10/22/96 01/21/97 91 10,000,000 5.420 9,862,994
N1 11/22/96 11/22/96 02/20/97 90 15,000,000 5.370 14,798,625
TOTALS
------
Number of Trans: 3
Total Par 40,000,000
Total Proceeds 39,583,598
Dollar Weighted Averages
------------------------
Days to Mty: 69.6
Rate: 5.375
Programs:
N1 NATIONAL FUEL GAS CO.
<PAGE>
PROGRAM ISSUANCE TRADE DETAIL - CP
10/01/96 - 12/31/96
Pgm Fx/F1 Trade Dt Sett Dt MTY DTM PAR Rate Proceeds
TOTALS
------
Number of Trans: 3
Total Par 40,000,000
Total Proceeds 39,583,598
Dollar Weighted Averages
------------------------
Days to Mty: 69.6
Rate: 5.375
Programs:
N1 NATIONAL FUEL GAS CO.
01/06/97 me Page 2
|
|