Quarterly Business Review

3rd Quarter, 1999

                                                                                          
                   TABLE 7:  PUBLIC UTILITY TAX:                                          
                             GROSS INCOME, TAXABLE INCOME & TAX DUE                       
                             STATEWIDE AMOUNTS BY INDUSTRY                                
                             3RD 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%      $167,060,019      $157,912,407     $7,940,328
  WATER SUPPLY ..............                 144,619,467       135,991,736      6,838,598
  MISCELLANEOUS .............                  22,440,552        21,920,671      1,101,730
                                                                                          

SEWER COLLECTION.............    3.852         78,151,680        46,181,273      1,778,420
  SEWERAGE SYSTEMS...........                  44,225,504        20,078,369        773,148
  MISCELLANEOUS .............                  33,926,176        26,102,904      1,005,272
                                                                                          

POWER .......................    3.873        926,372,265       735,493,230     28,485,594
                                                                                          

GAS DISTRIBUTION/TELEGRAPH ..    3.852        120,530,758       116,136,141      4,473,278
  TELEGRAPH .................                           -                 -              -
  GAS .......................                  33,541,580        33,516,119      1,291,042
  GAS/ELECTRIC ..............                   8,525,390         8,465,211        326,080
  MISCELLANEOUS .............                  78,463,788        74,154,811      2,856,156
                                                                                          

MOTOR TRANSPORTATION ........    1.926      1,023,934,068       226,289,663      4,345,223
  MANUFACTURING .............                  29,253,868        14,215,812        272,600
  LOCAL/SUBURBAN TRANSIT ....                  40,396,510        12,440,399        239,139
  TRUCKING ..................                 618,571,963       146,508,533      2,814,711
  RAILROADS .................                 157,661,188        22,094,661        425,523
  MISCELLANEOUS .............                 178,050,539        31,030,258        593,250
                                                                                          

URBAN TRANSPORTATION ........    0.642        108,746,861        85,655,994        549,039
  LOCAL/SUBURBAN TRANSIT ....                  34,371,519        16,488,268        105,646
  TRUCKING ..................                  53,673,222        48,924,733        313,731
  MISCELLANEOUS .............                  20,702,120        20,242,993        129,662
                                                                                          

OTHER PUBLIC SERVICE ........    1.926        162,261,718        36,472,760        702,323
  WATER TRANSPORT ...........                 141,484,148        29,500,856        568,146
  MISCELLANEOUS .............                  20,777,570         6,971,904        134,177
                                                                                          

TOTAL........................              $2,587,057,369    $1,404,141,468    $48,274,205