UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY SIXTEENTH
LEIDY HUB, INC. CERTIFICATE
ELLISBURG-LEIDY NORTHEAST HUB COMPANY PURSUANT TO
RULE 24
File No. 70-8417
(Public Utility Holding Company Act of 1935)
- --------------------------------------------
In accordance with the terms of the Order dated July 29, 1994
issued to National Fuel Gas Company ("National") authorizing Leidy Hub, Inc., a
subsidiary of National to enter into a partnership with Hub Services, Inc., a
subsidiary of Natural Gas Clearinghouse (File No. 70-8417, HCAR No. 35-26093),
attached as Exhibit A is an income statement of Ellisburg-Leidy Northeast Hub
Company (the Partnership) for the three months ended September 30, 1997. Also
attached as Exhibit B is a balance sheet for the Partnership at September 30,
1997. Exhibit C is the income statement of Leidy Hub, Inc. for the three and
twelve months ended September 30, 1997, and Exhibit D is the balance sheet for
Leidy Hub, Inc. at September 30, 1997.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 13th day of November, 1997.
LEIDY HUB, INC. AND NATIONAL FUEL GAS COMPANY
By /s/Gerald T. Wehrlin
------------------------------------------
Gerald T. Wehrlin
Secretary and Treasurer, Leidy Hub, Inc.
Controller, National Fuel Gas Company
<PAGE>
EXHIBIT INDEX
(File No. 70-8417)
(1) Exhibit A - Income Statement of Ellisburg-Leidy Northeast Hub Company
for the Three Months Ended September 30, 1997.
(2) Exhibit B - Balance Sheet of Ellisburg-Leidy Northeast Hub Company as of
September 30, 1997.
(3) Exhibit C - Income Statement of Leidy Hub, Inc. for the Three and Twelve
Months Ended September 30, 1997.
(4) Exhibit D - Balance Sheet of Leidy Hub, Inc. as of September 30, 1997.
EXHIBIT A
---------
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
INCOME STATEMENT
(UNAUDITED)
Three Months Ended
September 30, 1997
------------------
Revenues
Wheeling/Transportation Fees $ 933
Other (836)
-------
Total Revenues 97
Cost of Sales
Wheeling/Transportation 1,823
Other 275
-------
2,098
-------
Gross Margin (2,001)
General & Administrative
Allocation -
-------
Net Income (Loss) $(2,001)
=======
EXHIBIT B
---------
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
BALANCE SHEET
(UNAUDITED)
At September 30, 1997
---------------------
CURRENT ASSETS
Cash $141,557
Accounts Receivable 97,528
--------
Total Current Assets 239,085
PROPERTY & EQUIPMENT 28,812
--------
TOTAL ASSETS $267,897
========
EQUITY
Contributed Capital - Hub Services, Inc. 136,334
Contributed Capital - Leidy Hub, Inc. 131,563
--------
TOTAL EQUITY $267,897
========
EXHIBIT C
---------
LEIDY HUB, INC.
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Twelve Months Ended
September 30, 1997 September 30, 1997
------------------ -------------------
Operating Expenses:
Operation Expense $ 3,601 $ 24,947
Other Taxes 1,471 2,469
-------- --------
Total Operating Expenses 5,072 27,416
-------- --------
Other Income:
Equity Interest in:
Ellisburg-Leidy Northeast
Hub Co. (1,000) 6,682
Enerchange - (34,292)
-------- --------
(1,000) (27,610)
-------- --------
Other Deductions:
Interest-Assoc. Companies 4,299 17,494
-------- --------
Pretax Loss (10,371) (72,520)
-------- --------
Income Taxes - Current (31,416) (51,352)
- Deferred 27,250 25,971
-------- --------
(4,166) (25,381)
-------- --------
Net Loss $ (6,205) $(47,139)
======== ========
EXHIBIT D
---------
LEIDY HUB, INC.
BALANCE SHEET
(UNAUDITED)
At September 30, 1997
---------------------
ASSETS
Current Assets:
Cash $ 62,595
Prepayments 6,272
----------
Total Current Assets 68,867
----------
Property, Plant & Equipment 3,208
Less: Reserve for DDA (3,171)
----------
Net Property, Plant & Equipment 37
----------
Other Assets:
Investment in Ellisburg-Leidy
Northeast Hub Co. 136,850
Investment in Enerchange 895,660
Other Deferred Debits 1,873
----------
Total Other Assets 1,034,383
----------
Total Assets $1,103,287
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LIABILITIES & STOCKHOLDERS EQUITY Capital Stock $1 Par:
Authorized 4,000 shares issued
and outstanding $ 4,000
Paid-in-Capital 1,364,500
Retained Earnings (736,658)
----------
Total Stockholders Equity 631,842
----------
Current & Accrued Liabilities:
Notes Payable Assoc. Companies 300,000
Accounts Payable - Assoc. Companies 10,893
Federal Income Taxes Payable (63,139)
Other Accruals 1,768
----------
Total Current & Accrued Liabilities 249,522
----------
Accumulated Deferred Income Taxes 221,923
----------
Total Liabilities & Equity $1,103,287
==========