Quarterly Business Review

1st Quarter, 1999


                   TABLE 7:  PUBLIC UTILITY TAX:                                          
                             GROSS INCOME, TAXABLE INCOME & TAX DUE                       
                             STATEWIDE AMOUNTS BY INDUSTRY                                
                             1ST QUARTER, 1999                                             
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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%      $109,984,893      $104,214,569     $5,236,338
  WATER SUPPLY ..............                  94,954,344        89,521,995      4,500,203
  MISCELLANEOUS .............                  15,030,549        14,692,574        736,135
                                                                                          
SEWER COLLECTION.............    3.852         74,777,267        44,057,463      1,696,076
  SEWERAGE SYSTEMS...........                  42,354,544        19,468,658        749,300
  MISCELLANEOUS .............                  32,422,723        24,588,805        946,776
                                                                                          
EXPRESS .....................    3.852                  -                 -              -
                                                                                          
POWER .......................    3.873      1,203,384,956     1,032,804,766     40,000,512
                                                                                          
GAS DISTRIBUTION/TELEGRAPH ..    3.852        289,742,781       285,704,043     11,005,321
  TELEGRAPH .................                           -                 -              -
  GAS .......................                  75,068,059        74,958,530      2,887,403
  GAS/ELECTRIC ..............                  31,608,495        31,538,951      1,214,880
  MISCELLANEOUS .............                 183,066,227       179,206,562      6,903,038
                                                                                          
MOTOR TRANSPORTATION ........    1.926        881,167,576       179,564,506      3,442,727
  MANUFACTURING .............                  26,098,261        12,435,519        238,145
  LOCAL/SUBURBAN TRANSIT ....                  33,366,308        10,599,122        203,458
  TRUCKING ..................                 527,710,464       115,361,086      2,213,097
  RAILROADS .................                 143,910,255        18,177,147        350,091
  MISCELLANEOUS .............                 150,082,288        22,991,632        437,936
                                                                                          
URBAN TRANSPORTATION ........    0.642         80,010,030        69,843,357        446,963
  LOCAL/SUBURBAN TRANSIT ....                  17,974,231        12,804,700         81,880
  TRUCKING ..................                  44,995,309        41,019,008        262,864
  MISCELLANEOUS .............                  17,040,490        16,019,649        102,219
                                                                                          
OTHER PUBLIC SERVICE ........    1.926        102,743,938        24,947,272        480,057
  WATER TRANSPORT ...........                  81,207,623        20,487,826        394,573
  MISCELLANEOUS .............                  21,536,315         4,459,446         85,484
                                                                                          
TOTAL........................              $2,741,811,441    $1,741,135,976    $62,307,994
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