Quarterly Business Review

4th Quarter, 1998

                   TABLE 7:  PUBLIC UTILITY TAX:                                           
                             GROSS INCOME, TAXABLE INCOME & TAX DUE                         
                             STATEWIDE AMOUNTS BY INDUSTRY                                 
                             4TH QUARTER, 1998                                              
__________________________________________________________________________________________ 
__________________________________________________________________________________________ 
                                             OPERATING INCOME SUBJECT TO TAX      ACCRUED  
       TYPE OF UTILITY                           GROSS            TAXABLE        STATE TAX 
__________________________________________________________________________________________ 
                                                                                           
WATER DISTRIBUTION...........    5.029%      $134,443,819      $125,359,154     $6,288,407 
  WATER SUPPLY ..............                 114,072,982       106,403,188      5,340,175 
  MISCELLANEOUS .............                  20,370,837        18,955,966        948,232 
                                                                                           
SEWER COLLECTION.............    3.852         82,658,563        51,747,558      1,992,597 
  SEWERAGE SYSTEMS...........                  50,185,812        26,409,494      1,016,986 
  MISCELLANEOUS .............                  32,472,751        25,338,064        975,611 
                                                                                           
EXPRESS .....................    3.852            241,805           241,805          9,308 
                                                                                           
POWER .......................    3.873      1,176,258,356       905,080,371     35,053,524 
                                                                                           
GAS DISTRIBUTION/TELEGRAPH ..    3.852        220,713,485       217,024,700      8,358,813 
  TELEGRAPH .................                      12,087            12,087              - 
  GAS .......................                  53,887,044        53,812,555      2,072,861 
  GAS/ELECTRIC ..............                  19,262,142        19,219,034        740,317 
  MISCELLANEOUS .............                 147,552,212       143,981,024      5,545,635 
                                                                                           
MOTOR TRANSPORTATION ........    1.926      1,360,640,678       230,928,337      4,394,229 
  MANUFACTURING .............                  31,298,459        15,143,430        289,046 
  LOCAL/SUBURBAN TRANSIT ....                  85,480,571        10,203,252        193,636 
  TRUCKING ..................                 881,997,750       154,998,561      2,949,832 
  RAILROADS .................                 139,058,867        19,387,055        373,357 
  MISCELLANEOUS .............                 222,805,031        31,196,039        588,358 
                                                                                           
URBAN TRANSPORTATION ........    0.642        108,458,133        92,553,923        584,577 
  LOCAL/SUBURBAN TRANSIT ....                  30,235,642        20,916,782        128,666 
  TRUCKING ..................                  57,389,490        51,793,428        329,621 
  MISCELLANEOUS .............                  20,833,001        19,843,713        126,290 
                                                                                           
OTHER PUBLIC SERVICE ........    1.926        110,821,414        31,329,860        600,305 
  WATER TRANSPORT ...........                  67,009,059        20,075,970        386,472 
  MISCELLANEOUS .............                  43,812,355        11,253,890        213,833 
                                                                                           
TOTAL........................              $3,194,236,253    $1,654,265,708    $57,281,760 
__________________________________________________________________________________________