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Previous: NATIONAL FUEL GAS CO, 35-CERT, 1997-05-12 |
Next: NATIONAL PROPERTIES CORP, 10-K/A, 1997-05-12 |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY TWENTY-FIRST
NATIONAL FUEL RESOURCES, INC. CERTIFICATE
PURSUANT TO
File No. 70-7833 RULE 24
(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 Six and Twelve Months ended March 31, 1997. Also attached as Exhibit "B" is
the Balance sheet of NFR as of March 31, 1997.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 9th day of May, 1997.
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
Exhibit A - File No. 70-7833
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Six Months Twelve Months
Ended Ended
March 1997 March 1997
-------------- ---------------
Operating Revenues:
Gas - Retail $29,848,265 $49,573,925
Gas - Wholesale 14,074,232 17,814,206
Other 1,748,089 2,852,292
----------- -----------
45,670,586 70,240,423
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Operating Expenses:
Purchase Gas 43,328,231 66,049,377
General & Administrative 931,666 1,809,990
Depreciation, Depletion & Amortization 7,573 14,063
Franchise & Other Taxes 216,898 151,526
----------- -----------
44,484,368 68,024,957
----------- -----------
Operating Income 1,186,218 2,215,467
----------- -----------
Interest Income 229,187 526,965
Interest Expense 13,518 22,487
----------- -----------
215,669 504,478
----------- -----------
Net Income (Loss) Before Tax 1,401,888 2,719,945
----------- -----------
Income Taxes:
Federal 577,063 1,349,885
State 49,848 116,399
Deferred (107,816) (449,851)
----------- -----------
519,095 1,016,433
----------- -----------
Net Income $ 882,793 $ 1,703,512
=========== ===========
EXHIBIT B - FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT MARCH 31, 1997
(Unaudited)
ASSETS
Current Assets:
Cash $ 1,626,883
Short Term Investments 4,845,020
Accounts Receivable 9,284,244
Accounts Receivable-Interco 7,193
Reserve for Bad Debts (540,952)
Other Current Assets 1,007,277
-----------
16,229,665
-----------
Property, Plant, and Equipment
Furniture and Fixtures 68,582
Less - Accumulated DD&A (34,881)
-----------
33,701
-----------
Other Assets:
Long Term Investments 1,255,979
Other Deferred Debits 132,251
-----------
1,388,230
-----------
$17,651,596
===========
LIABILITIES
Current Liabilities:
Accounts Payable $ 6,208,499
Accrued Liabilities 617,994
Current Income Taxes-Federal (508,781)
Current Income Taxes-State 5,047
Accounts Payable-Intercompany 1,318,869
Dividends Payable 35,000
-----------
7,676,628
-----------
Long Term Liabilities:
Deferred Income Taxes (661,850)
Miscellaneous Deferred Credits 589,122
-----------
(72,728)
-----------
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 6,792,696
Retained Earnings - Dividends (245,000)
-----------
Total Equity 10,047,696
-----------
$17,651,596
===========
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