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Previous: NATIONAL CITY CORP, 13F-HR, 1999-08-16 |
Next: E4L INC, 10-Q, 1999-08-16 |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY THIRTIETH
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 Nine and Twelve Months ended June 30, 1999. Also attached as Exhibit "B" is
the Balance sheet of NFR as of June 30, 1999.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 13th day of August, 1999.
NATIONAL FUEL RESOURCES, INC.
By: /s/ Robert J. Kreppel
-----------------------------------------
R. J. Kreppel, President
NATIONAL FUEL GAS COMPANY
By: /s/ James R. Peterson
-----------------------------------------
James R. Peterson, Assistant Secretary
Exhibit A
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
Nine Twelve
Months Ended Months Ended
June 30, 1999 June 30, 1999
------------- -------------
Actual Actual
------------- -------------
Operating Revenues $82,253,194 $97,175,312
----------- -----------
Operating Expenses:
Purchased Gas 75,144,688 88,767,463
Purchased Electric 934,547 1,063,703
General & Administrative 3,198,543 4,111,393
Depreciation, Depletion
& Amortization 115,230 142,720
Franchise & Other Taxes 160,399 233,684
----------- -----------
79,553,407 94,318,963
----------- -----------
Operating Income 2,699,787 2,856,349
----------- -----------
Interest Income 293,131 394,548
Interest Expense 244,437 238,053
----------- -----------
48,694 156,495
----------- -----------
Net Income Before Taxes 2,748,481 3,012,844
----------- -----------
Income Taxes:
Federal 1,007,144 1,259,502
State 90,280 106,566
Deferred (78,895) (247,646)
----------- -----------
1,018,529 1,118,422
----------- -----------
Net Income $ 1,729,952 $ 1,894,422
=========== ===========
Exhibit B
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
-------------
AT JUNE 30,
-----------
1999 1998
---- ----
ASSETS
Current Assets:
Cash & Temp. Cash Investments $ 1,716,325 $ 3,878,913
Notes Receivable-Interco 1,300,000 800,000
Accounts Receivable 11,985,305 9,140,955
Accounts Receivable-Interco 26,016 12,376
Reserve for Bad Debts (806,421) (533,845)
Gas Storage 4,131,619 1,732,859
Other Current Assets 28,222 185,797
----------- -----------
18,381,066 15,217,055
----------- -----------
Property, Plant, and Equipment
Furniture and Fixtures 745,063 410,096
Less - Accumulated DD&A (247,367) (104,648)
----------- -----------
497,696 305,448
----------- -----------
Other Assets:
Long Term Investments 324,998 689,909
Other Deferred Debits 507,807 288,919
----------- -----------
832,805 978,828
----------- -----------
$19,711,567 $16,501,331
=========== ===========
LIABILITIES
Current Liabilities:
Accounts Payable $ 1,637,130 $ 3,069,889
Accrued Liabilities (73,779) 43,295
Current Income Taxes-Federal 521,275 (738,487)
Accounts Payable-Intercompany 393,943 1,240,044
Dividends Payable 35,000 35,000
----------- -----------
2,513,569 3,649,741
----------- -----------
Long Term Liabilities:
Deferred Income Taxes (944,203) (702,650)
Miscellaneous Deferred Credits 5,208,520 2,374,982
----------- -----------
4,264,317 1,672,332
----------- -----------
Stockholder's Equity:
Common Stock 10,000 10,000
Capital Paid in Excess of Par 3,490,000 3,490,000
Retained Earnings 9,433,681 7,679,258
----------- -----------
Total Equity 12,933,681 11,179,258
----------- -----------
$19,711,567 $16,501,331
=========== ===========
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