Quarterly Business Review

Calendar Year, 1997

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                           TABLE 7:  PUBLIC UTILITY TAX:
                                     GROSS INCOME, TAXABLE INCOME & TAX DUE
                                     STATEWIDE AMOUNTS BY INDUSTRY
                                     CALENDAR 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%      $474,203,229           $449,075,581            $22,548,111
  WATER SUPPLY...............                 406,945,666            384,241,312             19,299,651
  MISCELLANEOUS..............                  67,257,563             64,834,269              3,248,460

SEWER COLLECTION.............    3.852        290,847,311            165,435,516              6,370,165
  SEWERAGE SYSTEMS...........                 178,022,287             78,969,035              3,040,807
  MISCELLANEOUS..............                 112,825,024             86,466,481              3,329,358

EXPRESS......................    3.852          8,107,309              2,438,836                 93,868

POWER........................    3.873      3,887,834,910          3,251,094,976            125,914,844

GAS DISTRIBUTION/TELEGRAPH...    3.852        769,422,246            718,932,376             27,692,844
  TELEGRAPH..................                      18,073                 10,987                    255
  GAS........................                 337,678,900            321,563,951             12,386,646
  GAS/ELECTRIC...............                  68,947,179             68,752,469              2,648,346
  MISCELLANEOUS..............                 362,778,094            328,604,969             12,657,597

MOTOR TRANSPORTATION.........    1.926      3,402,583,925            736,010,104             14,075,104
  MANUFACTURING..............                 118,655,304             56,659,966              1,083,695
  LOCAL/SUBURBAN TRANSIT.....                 137,332,094             34,835,192                664,899
  TRUCKING...................               2,249,550,857            498,882,111              9,548,440
  RAILROADS..................                 192,675,289             17,733,089                341,524
  MISCELLANEOUS..............                 704,370,381            127,899,746              2,436,546

URBAN TRANSPORTATION.........    0.642        370,973,597            304,074,744              1,937,313
  LOCAL/SUBURBAN TRANSIT.....                  99,832,240             60,101,013                379,352
  TRUCKING...................                 200,135,487            179,005,146              1,144,642
  MISCELLANEOUS..............                  71,005,870             64,968,585                413,319

OTHER PUBLIC SERVICE.........    1.926        932,055,568            158,296,553              3,043,746
  WATER TRANSPORT............                 390,409,215             91,692,344              1,765,214
  MISCELLANEOUS..............                 541,646,353             66,604,209              1,278,532

TOTAL........................             $10,136,028,095         $5,785,358,686           $201,675,995
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