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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- -----------------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY TWENTY-SECOND
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 a balance sheet for Ellisburg-Leidy Northeast Hub
Company (the Partnership) at March 31, 1999. The Partnership did not have any
income statement activity during the three months ended March 31, 1999. Exhibit
B is the income statement of Leidy Hub, Inc. for the three and twelve months
ended March 31, 1999, and Exhibit C is the balance sheet for Leidy Hub, Inc. at
March 31, 1999.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 10th day of May, 1999.
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 - Balance Sheet of Ellisburg-Leidy Northeast Hub
Company as of March 31, 1999.
(2) Exhibit B - Income Statement of Leidy Hub, Inc. for the Three and
Twelve Months Ended March 31, 1999.
(3) Exhibit C - Balance Sheet of Leidy Hub, Inc. as of March 31, 1999.
EXHIBIT A
---------
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
BALANCE SHEET
(UNAUDITED)
At March 31, 1999
-----------------
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 B
---------
LEIDY HUB, INC.
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Twelve Months Ended
March 31, 1999 March 31, 1999
------------------ -------------------
Operating Expenses:
Operation Expense $ 6,123 $ 32,521
Other Taxes 300 2,349
-------- --------
Total Operating Expenses 6,423 34,870
-------- --------
Other Income:
Interest Income 9,004 38,836
Equity Interest in:
Ellisburg-Leidy Northeast
Hub Co. - -
Enerchange - -
-------- --------
9,004 38,836
-------- --------
Other Deductions:
Interest 176 177
-------- --------
Pretax Income 2,405 3,789
-------- --------
Income Taxes - Current 731 5,677
- Deferred 111 (2,088)
-------- --------
842 3,589
-------- --------
Net Income $ 1,563 $ 200
======== ========
EXHIBIT C
---------
LEIDY HUB, INC.
BALANCE SHEET
(UNAUDITED)
At March 31, 1999
-----------------
ASSETS
Current Assets:
Cash $ 86,759
Notes Receivable - Associated Companies 700,000
Accounts Receivable - Associated Companies 3,024
Prepayments 6,063
----------
Total Current Assets 795,846
----------
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 1,874
----------
Total Other Assets 138,724
- ------------------ ----------
Total Assets $ 934,607
==========
LIABILITIES & STOCKHOLDERS EQUITY Capital Stock $1 Par:
Authorized 4,000 shares issued
and outstanding $ 4,000
Paid-in-Capital 1,364,500
Retained Earnings (655,087)
----------
Total Stockholders Equity 713,413
----------
Current & Accrued Liabilities:
Accounts Payable - Assoc. Companies 19,599
Federal Income Taxes Payable 83,573
Other Accruals 2,547
----------
Total Current & Accrued Liabilities 105,719
----------
Accumulated Deferred Income Taxes 115,475
----------
Total Liabilities & Equity $ 934,607
==========
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