UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY SEVENTH
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.
During the quarter ended September 30, 1997 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
---- ------ ----
07/01/97 $21,200,000 5.92%
07/02/97 19,000,000 5.91
07/03/97 16,100,000 5.53
07/07/97 19,500,000 5.62
07/08/97 17,200,000 5.62
07/09/97 13,000,000 5.54
07/10/97 9,600,000 5.53
07/11/97 7,300,000 5.47
07/14/97 9,300,000 5.58
07/15/97 19,600,000 5.67
07/16/97 17,800,000 5.71
07/17/97 14,700,000 5.59
07/18/97 14,600,000 5.52
07/21/97 11,900,000 5.56
07/22/97 10,600,000 5.52
07/23/97 7,300,000 5.52
07/24/97 7,700,000 5.62
07/25/97 15,000,000 5.67
07/25/97 14,600,000 5.58
07/28/97 9,300,000 5.72
07/29/97 10,900,000 5.62
07/30/97 10,000,000 5.63
07/30/97 300,000 5.87
07/31/97 7,600,000 5.92
08/01/97 19,300,000 5.67
08/04/97 10,200,000 5.68
08/05/97 10,900,000 5.62
08/06/97 9,700,000 5.54
08/07/97 7,000,000 5.62
08/08/97 8,700,000 5.54
08/11/97 28,800,000 5.68
09/03/97 7,100,000 5.65
09/04/97 4,200,000 5.58
09/05/97 2,500,000 5.52
09/08/97 13,600,000 5.59
09/09/97 15,300,000 5.59
09/10/97 13,800,000 5.72
09/11/97 10,500,000 5.59
09/12/97 11,000,000 5.52
09/15/97 10,600,000 5.80
09/15/97 7,000,000 5.68
09/16/97 10,600,000 5.62
09/17/97 9,000,000 5.59
09/18/97 8,100,000 5.59
09/19/97 11,800,000 5.53
09/22/97 14,200,000 5.56
09/23/97 18,300,000 5.60
09/24/97 6,900,000 5.72
09/25/97 15,600,000 5.60
09/26/97 13,100,000 5.60
09/29/97 24,000,000 5.87
09/30/97 32,400,000 6.12
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.
DATE AMOUNT RATE
---- ------ ----
07/07/97 $500,000 5.63%
07/31/97 100,000 5.62
08/01/97 300,000 5.61
08/05/97 600,000 5.61
09/02/97 1,400,000 5.59
09/03/97 8,100,000 5.57
09/04/97 600,000 5.56
09/16/97 100,000 5.60
09/26/97 100,000 5.61
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.
DATE AMOUNT RATE
---- ------ ----
08/29/97 $1,600,000 5.59%
09/02/97 1,800,000 5.59%
09/11/97 1,900,000 5.57%
09/25/97 1,300,000 5.61%
09/26/97 700,000 5.61%
09/29/97 200,000 5.68%
6. Supply Corporation borrowed the following amounts from the
System Money Pool on the dates and at the rates indicated below.
DATE AMOUNT RATE
---- ------ ----
07/02/97 $200,000 5.68%
07/07/97 200,000 5.63
07/08/97 300,000 5.63
07/09/97 200,000 5.62
07/14/97 300,000 5.63
07/15/97 4,500,000 5.63
07/16/97 300,000 5.64
07/17/97 100,000 5.62
07/21/97 200,000 5.61
07/22/97 100,000 5.61
07/23/97 200,000 5.61
07/24/97 700,000 5.62
07/30/97 1,800,000 5.60
07/31/97 3,800,000 5.62
08/01/97 1,200,000 5.61
08/04/97 100,000 5.61
08/05/97 300,000 5.61
08/06/97 400,000 5.60
08/08/97 500,000 5.60
08/22/97 200,000 5.60
09/15/97 4,200,000 5.63
09/16/97 700,000 5.60
09/17/97 800,000 5.60
09/22/97 400,000 5.60
09/23/97 200,000 5.61
09/24/97 300,000 5.62
09/30/97 2,200,000 5.79
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.
DATE AMOUNT RATE
---- ------ ----
07/10/97 $600,000 5.62%
07/11/97 700,000 5.62
07/17/97 700,000 5.62
07/18/97 500,000 5.61
07/21/97 1,200,000 5.61
07/22/97 1,200,000 5.61
07/23/97 3,400,000 5.61
09/10/97 800,000 5.60
09/11/97 1,900,000 5.57
09/12/97 300,000 5.55
8. Distribution Corporation borrowed the following amounts from
the System Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
---- ------ ----
07/15/97 $5,100,000 5.63%
07/25/97 27,100,000 5.62
07/29/97 600,000 5.60
07/31/97 300,000 5.62
08/01/97 7,900,000 5.61
08/05/97 300,000 5.61
08/25/97 400,000 5.60
08/29/97 1,600,000 5.59
09/15/97 11,400,000 5.63
09/19/97 7,900,000 5.59
09/22/97 1,000,000 5.60
09/23/97 3,200,000 5.61
09/25/97 21,700,000 5.61
09/30/97 2,100,000 5.79
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.
DATE AMOUNT RATE
---- ------ ----
07/11/97 $900,000 5.62%
07/23/97 100,000 5.61
07/24/97 100,000 5.62
08/11/97 1,100,000 5.61
08/25/97 100,000 5.60
09/08/97 1,000,000 5.57
10. Seneca borrowed the following amounts from the System Money
Pool on the dates and at the rates indicated below:
DATE AMOUNT RATE
---- ------ ----
07/07/97 $ 1,200,000 5.63%
07/08/97 700,000 5.63
07/09/97 1,000,000 5.62
07/11/97 700,000 5.62
07/14/97 1,500,000 5.63
07/18/97 1,200,000 5.61
07/23/97 100,000 5.61
07/24/97 100,000 5.62
07/28/97 500,000 5.61
07/29/97 1,000,000 5.60
07/31/97 3,200,000 5.62
08/01/97 2,900,000 5.61
08/04/97 300,000 5.61
08/05/97 400,000 5.61
08/06/97 1,600,000 5.60
08/08/97 2,200,000 5.60
08/11/97 1,500,000 5.61
08/19/97 100,000 5.60
08/27/97 500,000 5.59
08/28/97 1,400,000 5.59
08/29/97 300,000 5.59
09/02/97 3,700,000 5.59
09/03/97 500,000 5.57
09/04/97 200,000 5.56
09/08/97 2,400,000 5.57
09/09/97 2,000,000 5.57
09/10/97 1,000,000 5.60
09/11/97 400,000 5.57
09/16/97 300,000 5.60
09/22/97 1,000,000 5.60
09/23/97 600,000 5.61
09/29/97 4,100,000 5.68
09/30/97 1,900,000 5.79
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.
None.
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.
None.
14. Highland borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated below:
None.
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:
None.
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.
DATE AMOUNT RATE
---- ------ ----
07/01/97 $ 300,000 5.68%
07/03/97 100,000 5.62
07/07/97 900,000 5.63
07/08/97 300,000 5.63
07/09/97 500,000 5.62
07/15/97 500,000 5.63
07/17/97 100,000 5.62
07/23/97 100,000 5.61
07/24/97 300,000 5.62
07/29/97 100,000 5.60
08/06/97 100,000 5.60
08/07/97 100,000 5.60
08/08/97 600,000 5.60
08/12/97 700,000 5.60
08/18/97 100,000 5.60
08/22/97 200,000 5.60
08/25/97 100,000 5.60
08/27/97 400,000 5.59
09/02/97 600,000 5.59
09/03/97 300,000 5.57
09/04/97 300,000 5.56
09/05/97 100,000 5.56
09/09/97 200,000 5.57
09/10/97 300,000 5.60
09/15/97 100,000 5.63
09/18/97 100,000 5.60
09/23/97 100,000 5.61
09/29/97 100,000 5.68
09/30/97 200,000 5.79
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:
DATE AMOUNT RATE
---- ------ ----
07/02/97 $ 200,000 5.68%
07/07/97 300,000 5.63
07/16/97 100,000 5.64
07/17/97 400,000 5.62
08/05/97 200,000 5.61
08/19/97 100,000 5.60
09/04/97 200,000 5.56
09/15/97 200,000 5.63
Dated: November 12, 1997 NATIONAL FUEL GAS COMPANY
By: /s/ Gerlad T. Wehrlin
----------------------
Gerald T. Wehrlin
Controller
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
October 10, 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 July 1, 1997 to September 30, 1997 no
sales or resales were made by Merrill Lynch Money Markets Inc. for National Fuel
Gas Company's commercial paper program. Verification of which is attached.
Sincerely,
/s/ Michael J. Maita
Michael J. Maita
Enclosure
<PAGE>
PROGRAM ISSUANCE TRADE DETAIL - CP
07/01/97 - 09/30/97
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.
10/01/97 Page 2
Chase Securities, Inc.
270 Park Avenue
New York, New York 10017-2070
October 10, 1997
Ms. Donna Cambas
National Fuel Gas Company
10 Lafayette Square - Room 1100
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 July 1, 1997 to September 30, 1997
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
NATIONAL FUEL GAS COMPANY
-------------------------
Third Quarter Performance Report
PAR ISSUE MATURITY
AMOUNT DATE DATE RATE YIELD TERM TYPE
15,000,000 07/02/97 08/26/97 5.65 5.6993 55 Days Discounted
15,000,000 07/07/97 08/06/97 5.62 5.6464 30 Days Discounted
10,000,000 07/09/97 08/13/97 5.60 5.63066 35 Days Discounted
10,000,000 07/09/97 08/21/97 5.60 5.6377 43 Days Discounted
5,000,000 07/15/97 09/15/97 5.58 5.6341 62 Days Discounted
5,000,000 07/21/97 08/18/97 5.55 5.5740 28 Days Discounted
10,000,000 07/21/97 09/08/97 5.56 5.6024 49 Days Discounted
35,000,000 07/28/97 07/29/97 5.55 5.5501 1 Day Discounted
15,000,000 07/29/97 09/15/97 5.56 5.6015 48 Days Discounted
20,000,000 07/29/97 09/22/97 5.56 5.6076 55 Days Discounted
15,000,000 08/06/97 08/12/97 5.57 5.5752 6 Days Discounted
15,000,000 09/15/97 11/14/97 5.61 5.6629 60 Days Discounted
15,000,000 09/15/97 10/16/97 5.61 5.6372 31 Days Discounted
20,000,000 09/22/97 10/06/97 5.60 5.6122 14 Days Discounted
10,000,000 09/24/97 11/03/97 5.60 5.6351 40 Days Discounted
- ----------
215,000,000
/s/Anton J. Schubert
-----------------------------------
Anton J. Schubert, Vice President
