Quarterly Business Review

2nd Quarter, 1999


                   TABLE 7:  PUBLIC UTILITY TAX:                                          
                             GROSS INCOME, TAXABLE INCOME & TAX DUE                       
                             STATEWIDE AMOUNTS BY INDUSTRY                                
                             2ND 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%      $125,518,194      $118,447,126     $5,953,721
  WATER SUPPLY ..............                 108,667,825       102,270,096      5,141,862
  MISCELLANEOUS .............                  16,850,369        16,177,030        811,859
                                                                                          
SEWER COLLECTION.............    3.852         78,582,259        47,107,876      1,813,982
  SEWERAGE SYSTEMS...........                  45,237,888        20,952,403        806,660
  MISCELLANEOUS .............                  33,344,371        26,155,473      1,007,322
                                                                                          
POWER .......................    3.873        964,931,395       797,129,008     30,872,793
                                                                                          
GAS DISTRIBUTION/TELEGRAPH ..    3.852        177,585,332       171,470,793      6,604,915
  TELEGRAPH .................                       5,298             2,006         ---
  GAS .......................                  48,244,791        48,119,470      1,853,561
  GAS/ELECTRIC ..............                  16,553,790        16,460,639        634,064
  MISCELLANEOUS .............                 112,781,453       106,888,678      4,117,290
                                                                                          
MOTOR TRANSPORTATION ........    1.926        970,868,163       204,851,057      3,930,061
  MANUFACTURING .............                  29,593,045        12,899,938        247,209
  LOCAL/SUBURBAN TRANSIT ....                  37,706,341        11,468,382        220,570
  TRUCKING ..................                 573,691,461       132,419,056      2,541,864
  RAILROADS .................                 158,629,728        19,988,826        384,984
  MISCELLANEOUS .............                 171,247,588        28,074,855        535,434
                                                                                          
URBAN TRANSPORTATION ........    0.642         98,916,625        77,473,703        496,192
  LOCAL/SUBURBAN TRANSIT ....                  32,050,811        15,660,805        100,220
  TRUCKING ..................                  50,199,314        46,084,236        295,386
  MISCELLANEOUS .............                  16,666,500        15,728,662        100,586
                                                                                          
OTHER PUBLIC SERVICE ........    1.926        120,540,482        26,352,805        507,068
  WATER TRANSPORT ...........                  99,348,331        21,468,236        413,402
  MISCELLANEOUS .............                  21,192,151         4,884,569         93,666
                                                                                          
TOTAL........................              $2,536,942,454    $1,442,832,372    $50,178,732
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