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Quarterly Business Review

1st Quarter, 1998

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                   TABLE 7:  PUBLIC UTILITY TAX:                                           
                             GROSS INCOME, TAXABLE INCOME & TAXDUE                         
                             STATEWIDE AMOUNTS BY INDUSTRY                                 
                             1ST QUARTER 1998                                              
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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%      $103,305,816       $98,673,354     $4,957,565 
  WATER SUPPLY ..............                  88,423,625        84,511,627      4,247,139 
  MISCELLANEOUS .............                  14,882,191        14,161,727        710,426 
                                                                                           
SEWER COLLECTION.............    3.852         71,118,496        41,424,941      1,595,380 
  SEWERAGE SYSTEMS...........                  41,943,036        18,991,843        731,347 
  MISCELLANEOUS .............                  29,175,460        22,433,098        864,033 
                                                                                           
EXPRESS .....................    3.852          4,740,067           514,223         19,809 
                                                                                           
POWER .......................    3.873      1,105,551,170       951,826,376     36,864,230 
                                                                                           
GAS DISTRIBUTION/TELEGRAPH ..    3.852        261,661,785       246,509,398      9,495,480 
  TELEGRAPH .................                           -                 -              - 
  GAS .......................                  75,050,435        67,934,986      2,616,856 
  GAS/ELECTRIC ..............                  29,307,859        29,250,428      1,126,726 
  MISCELLANEOUS .............                 157,303,491       149,323,984      5,751,898 
                                                                                           
MOTOR TRANSPORTATION ........    1.926        741,987,167       167,292,497      3,204,823 
  MANUFACTURING .............                  23,697,660        12,167,189        232,227 
  LOCAL/SUBURBAN TRANSIT ....                  30,968,178         8,138,875        155,940 
  TRUCKING ..................                 475,839,260       105,606,367      2,024,553 
  RAILROADS .................                  62,020,391        14,407,117        277,472 
  MISCELLANEOUS .............                 149,461,678        26,972,949        514,631 
                                                                                           
URBAN TRANSPORTATION ........    0.642         79,173,961        69,259,639        442,538 
  LOCAL/SUBURBAN TRANSIT ....                  20,336,505        15,205,883         96,973 
  TRUCKING ..................                  44,973,834        40,634,106        260,106 
  MISCELLANEOUS .............                  13,863,622        13,419,650         85,459 
                                                                                           
OTHER PUBLIC SERVICE ........    1.926        167,763,435        33,643,299        647,227 
  WATER TRANSPORT ...........                  49,720,229        23,996,668        462,029 
  MISCELLANEOUS .............                 118,043,206         9,646,631        185,198 
                                                                                           
TOTAL........................              $2,535,301,897    $1,609,143,727    $57,227,052 
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