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Previous: NARRAGANSETT ELECTRIC CO, 10-Q, 1998-11-12 |
Next: NACO VARIABLE ACCOUNT OF NATIONWIDE LIFE INS CO, 485BPOS, 1998-11-12 |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY TWENTIETH
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, 1998. Also
attached as Exhibit B is a balance sheet for the Partnership at September 30,
1998. Exhibit C is the income statement of Leidy Hub, Inc. for the three and
twelve months ended September 30, 1998, and Exhibit D is the balance sheet for
Leidy Hub, Inc. at September 30, 1998.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 12th day of November, 1998.
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, 1998.
(2) Exhibit B - Balance Sheet of Ellisburg-Leidy Northeast Hub Company
as of September 30, 1998.
(3) Exhibit C - Income Statement of Leidy Hub, Inc. for the Three and
Twelve Months Ended September 30, 1998.
(4) Exhibit D - Balance Sheet of Leidy Hub, Inc. as of September 30, 1998.
EXHIBIT A
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
INCOME STATEMENT
(UNAUDITED)
Three Months Ended
September 30, 1998
------------------
Revenues
Wheeling/Transportation Fees $ -
Other -
---------
-
Cost of Sales
Wheeling/Transportation -
Other -
--------
-
Gross Margin -
General & Administrative
Allocation 28,812
--------
Net Income (Loss) $(28,812)
========
EXHIBIT B
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
BALANCE SHEET
(UNAUDITED)
At September 30, 1998
---------------------
CURRENT ASSETS
Cash $239,085
PROPERTY & EQUIPMENT 28,812
Less: Reserve for DD&A (28,812)
--------
Net Property, Plant & Equipment -
--------
TOTAL ASSETS $239,085
========
EQUITY
Contributed Capital - Hub Services, Inc. 121,928
Contributed Capital - Leidy Hub, Inc. 117,157
--------
TOTAL EQUITY $239,085
========
EXHIBIT C
LEIDY HUB, INC.
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Twelve Months Ended
September 30, 1998 September 30, 1998
------------------ ------------------
Operating Expenses:
Operation Expense $ 12,170 $ 33,267
Other Taxes - 1,460
-------- --------
Total Operating Expenses 12,170 34,727
-------- --------
Other Income:
Interest Income 10,088 28,394
Equity Interest in:
Ellisburg-Leidy Northeast
Hub Co. - -
Enerchange - 139,340
-------- --------
10,088 167,734
-------- --------
Other Deductions:
Interest - 5,414
-------- --------
Pretax Income (Loss) (2,082) 127,593
-------- --------
Income Taxes - Current 184 150,942
- Deferred (912) (106,284)
-------- -------
(728) 44,658
-------- --------
Net Income (Loss) $ (1,354) $ 82,935
======== ========
EXHIBIT D
LEIDY HUB, INC.
BALANCE SHEET
(UNAUDITED)
At September 30, 1998
---------------------
ASSETS
Current Assets:
Cash $ 86,019
Notes Receivable - Associated Companies 700,000
Accounts Receivable - Associated Companies 3,282
Prepayments 6,241
----------
Total Current Assets 795,542
----------
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 -
Other Deferred Debits 1,873
----------
Total Other Assets 138,723
----------
Total Assets $ 934,302
==========
LIABILITIES & STOCKHOLDERS EQUITY Capital Stock $1 Par:
Authorized 4,000 shares issued
and outstanding $ 4,000
Paid-in-Capital 1,364,500
Retained Earnings (653,722)
----------
Total Stockholders Equity 714,778
----------
Current & Accrued Liabilities:
Accounts Payable - Assoc. Companies 16,116
Federal Income Taxes Payable 85,184
Other Accruals 2,585
----------
Total Current & Accrued Liabilities 103,885
----------
Accumulated Deferred Income Taxes 115,639
----------
Total Liabilities & Equity $ 934,302
==========
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