Quarterly Business Review

Fourth Quarter 1997

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                   TABLE 7:  PUBLIC UTILITY TAX:                                           
                             GROSS INCOME, TAXABLE INCOME & TAXDUE                         
                             STATEWIDE AMOUNTS BY INDUSTRY                                 
                             4TH QUARTER 1997                                              
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                                            OPERATING INCOME SUBJECT TO TAX      ACCRUED
       TYPE OF UTILITY                           GROSS            TAXABLE        STATE TAX 
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WATER DISTRIBUTION...........    5.029%      $120,148,480      $112,989,942     $5,659,705 
  WATER SUPPLY ..............                 102,806,284        96,405,755      4,832,107 
  MISCELLANEOUS .............                  17,342,196        16,584,187        827,598 
                                                                              
SEWER COLLECTION.............    3.852         76,625,472        44,575,980      1,716,070 
  SEWERAGE SYSTEMS...........                  45,774,927        21,406,884        824,117
  MISCELLANEOUS .............                  30,850,545        23,169,096        891,953 
                                                                                           
EXPRESS .....................    3.852          1,462,166           526,150         20,191 
                                                                                           
POWER .......................    3.873      1,059,276,314       873,112,882     33,815,620 
                                                                                           
GAS DISTRIBUTION/TELEGRAPH ..    3.852        217,764,611       212,314,199      8,178,334 
  TELEGRAPH .................                       6,622             6,622            255 
  GAS .......................                  56,794,494        56,746,786      2,185,886 
  GAS/ELECTRIC ..............                  18,753,811        18,694,234        720,101 
  MISCELLANEOUS .............                 142,209,684       136,866,557      5,272,092 
                                                                                           
MOTOR TRANSPORTATION ........    1.926      1,248,526,081       225,468,250      4,291,025 
  MANUFACTURING .............                  33,935,552        16,146,529        307,726 
  LOCAL/SUBURBAN TRANSIT ....                  34,246,324         9,821,390        185,325 
  TRUCKING ..................                 808,449,141       143,981,993      2,740,192 
  RAILROADS .................                 140,424,924        15,688,222        302,157 
  MISCELLANEOUS .............                 231,470,140        39,830,116        755,625 
                                                                                           
URBAN TRANSPORTATION ........    0.642        108,166,127        87,888,533        556,636 
  LOCAL/SUBURBAN TRANSIT ....                  30,664,767        18,560,248        115,048 
  TRUCKING ..................                  57,236,055        51,178,911        326,195 
  MISCELLANEOUS .............                  20,265,305        18,149,374        115,393 
                                                                                           
OTHER PUBLIC SERVICE ........    1.926        115,832,895        28,451,581        545,195 
  WATER TRANSPORT ...........                  91,163,456        21,198,403        408,045 
  MISCELLANEOUS .............                  24,669,439         7,253,178        137,150 
                                                                                           
TOTAL........................              $2,947,802,146    $1,585,327,517    $54,782,776 

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