Quarterly Business Review

2nd Quarter, 1998

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                   TABLE 7:  PUBLIC UTILITY TAX:                                           
                             GROSS INCOME, TAXABLE INCOME & TAXDUE                         
                             STATEWIDE AMOUNTS BY INDUSTRY                                 
                             2ND 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%      $115,825,908      $108,829,111     $5,470,969 
  WATER SUPPLY ..............                  99,548,695        93,318,414      4,691,937 
  MISCELLANEOUS .............                  16,277,213        15,510,697        779,032 
                                                                                           
SEWER COLLECTION.............    3.852         74,165,819        43,297,584      1,667,390 
  SEWERAGE SYSTEMS...........                  43,609,918        20,085,643        773,486 
  MISCELLANEOUS .............                  30,555,901        23,211,941        893,904 
                                                                                           
EXPRESS .....................    3.852          1,472,090           547,044         21,033 
                                                                                           
POWER .......................    3.873        892,864,753       753,103,846     29,167,684 
                                                                                           
GAS DISTRIBUTION/TELEGRAPH ..    3.852        141,251,691       132,777,269      5,114,236 
  TELEGRAPH .................                           -                 -              - 
  GAS .......................                  47,930,292        41,385,838      1,594,182 
  GAS/ELECTRIC ..............                  13,443,543        13,381,570        515,458 
  MISCELLANEOUS .............                  79,877,856        78,009,861      3,004,596 
                                                                                           
MOTOR TRANSPORTATION ........    1.926        880,244,991       189,181,969      3,629,179 
  MANUFACTURING .............                  28,829,502        14,757,240        282,871 
  LOCAL/SUBURBAN TRANSIT ....                  33,844,299         9,154,616        175,791 
  TRUCKING ..................                 528,457,904       121,147,163      2,325,476 
  RAILROADS .................                 124,012,725        16,463,997        317,092 
  MISCELLANEOUS .............                 165,100,561        27,658,953        527,949 
                                                                                           
URBAN TRANSPORTATION ........    0.642        100,630,689        77,387,291        495,051 
  LOCAL/SUBURBAN TRANSIT ....                  32,163,185        14,451,606         92,193 
  TRUCKING ..................                  50,545,285        45,464,658        291,244 
  MISCELLANEOUS .............                  17,922,219        17,471,027        111,614 
                                                                                           
OTHER PUBLIC SERVICE ........    1.926         73,636,420        33,081,265        636,697 
  WATER TRANSPORT ...........                  53,159,683        22,137,367        426,215 
  MISCELLANEOUS .............                  20,476,737        10,943,898        210,482 
                                                                                           
TOTAL........................              $2,280,092,361    $1,338,202,379    $46,202,239
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