-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, UgwtMbPfxQx39FHsspX97wJD2wrWZC4N7VOKlqC63FsP5RbMvwVpN4BI5xsHJ6l3 1Mnu5JOzmizs1ZOEtaFOXg== 0000102710-95-000004.txt : 19950601 0000102710-95-000004.hdr.sgml : 19950601 ACCESSION NUMBER: 0000102710-95-000004 CONFORMED SUBMISSION TYPE: U-3A-2 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950224 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: VALLEY RESOURCES INC /RI/ CENTRAL INDEX KEY: 0000102710 STANDARD INDUSTRIAL CLASSIFICATION: 4924 IRS NUMBER: 050384723 STATE OF INCORPORATION: RI FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: U-3A-2 SEC ACT: 1935 Act SEC FILE NUMBER: 069-00251 FILM NUMBER: 95514823 BUSINESS ADDRESS: STREET 1: 1595 MENDON RD CITY: CUMBERLAND STATE: RI ZIP: 02864 BUSINESS PHONE: 4013331595 MAIL ADDRESS: STREET 1: PO BOX 7900 CITY: CUMBERLAND STATE: RI ZIP: 02864-7900 U-3A-2 1 FORM U-3A-2 File No. 1-7924 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from the Provisions of the Public Utility Holding Company Act of 1935 To be Filed Annually Prior to March 1 VALLEY RESOURCES, INC. (Name of Company) hereby files with the Securities Exchange Commission, pursuant to Rule 2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935, and submits the following information: Item 1: Valley Resources, Inc., RI; Cumberland, Rhode Island, Holding Company. Subsidiaries: Valley Gas Company, RI; Cumberland, Rhode Island; gas distribu- tion within Rhode Island. Valley Appliance and Merchandising Company, RI; Cumberland, Rhode Island; selling and leasing of merchandise. Rhode Island Development and Exploration Company, RI; Cumber- land, Rhode Island; an inactive company. Valley Propane, Inc., RI; Cumberland, Rhode Island; selling of propane gas. Morris Merchants, Inc., MA; Canton, Massachusetts; a manufac- turers' representative of gas-fired equipment, plumbing and heating supplies. Bristol and Warren Gas Company, RI; Bristol, Rhode Island; gas distribution within Rhode Island. The New England Gas Company, RI; Bristol, Rhode Island; selling of propane gas. Form U-3A-2 File No. 1-7924 Page 2 Item 2: Valley Resources, Inc. (Holding Company) Valley Gas Company, 1595 Mendon Road, Cumberland, Rhode Island; owns gas manufacturing plant and gas distribution facilities all of which are located in Rhode Island. Bristol and Warren Gas Company, 25 Gooding Avenue, Bristol, Rhode Island; owns gas manufacturing plant and gas distribution facilities all of which are located in Rhode Island. Item 3: Valley Resources, Inc. (Holding Company) Valley Gas Company: (a) 6,650,398 Mcf natural or manufactured gas distributed at retail (b) None (c) None (d) 1,198,751 Mcf natural gas purchased outside the state of Rhode Island Bristol and Warren Gas Company: (a) 725,958 Mcf natural or manufactured gas distributed at retail (b) None (c) None (d) 128,200 Mcf natural gas purchased outside the state of Rhode Island Item 4: Valley Resources, Inc. (Holding Company) (a) None (b) None (c) None (d) None (e) None Exhibit A Consolidating Statements of Income for the 12 Months Ended December 31, 1994 Consolidating Balance Sheets at December 31, 1994 Exhibit B Financial Data Schedule Exhibit C Not Applicable The above-named claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 24th day of February, 1995. VALLEY RESOURCES, INC. (Name of Claimant) By Kenneth W. Hogan Senior Vice President, CFO and Secretary Attest: Patricia A. Morrison, Assistant Secretary Name, title and address of officer to whom notices and correspondence con- cerning this statement should be addressed: K. W. Hogan Senior Vice President (Name) (Title) 1595 Mendon Road, Cumberland, Rhode Island 02864 (Address) Exhibit A VALLEY RESOURCES, INC. CONSOLIDATING INCOME STATEMENT FOR THE TWELVE MONTHS ENDED DECEMBER 31, 1994
Valley Valley Valley Bristol & Propane & Morris Resources Gas Warren VAMCO RIDEC N. E. Gas Merchants Eliminations Consolidated OPERATING REVENUES: Utility Gas Revenues $57,595,852 $5,878,526 $63,474,378 Nonutility Revenues $ -0- $3,121,923 $1,735,940 $13,392,413 $ -0- 18,250,276 Total -0- 57,595,852 5,878,526 3,121,923 $ -0- 1,735,940 13,392,413 -0- 81,724,654 OPERATING EXPENSES: Cost of Gas Sold 33,372,744 3,666,488 661,681 37,700,913 Operations (521,958) 12,763,863 904,882 2,129,030 589,769 12,635,100 (112,645) 28,388,041 Maintenance 1,337,263 153,967 34,966 1,526,196 Depreciation 1,874,110 217,788 346,157 74,043 25,901 2,537,999 Taxes-Other Than FIT 3,743,695 320,920 77,523 89,196 84,496 4,315,830 Taxes-Federal Income 152,367 332,540 65,505 215,380 109,774 232,347 1,107,913 Total (369,591) 53,424,215 5,329,550 2,768,090 1,559,429 12,977,844 (112,645) 75,576,892 Operating Income 369,591 4,171,637 548,976 353,833 -0- 176,511 414,569 112,645 6,147,762 Other Income-Before FIT 3,167,419 169,820 12,695 95,463 20,629 38,981 (3,343,465) 161,542 Total Income 3,537,010 4,341,457 561,671 449,296 -0- 197,140 453,550 (3,230,820) 6,309,304 INTEREST CHARGES: Long Term Debt 248,636 1,796,673 -0- -0- 2,045,309 Other -0- 938,096 282,963 -0- (243,378) 977,681 Capitalized Interest (2,060) -0- (2,060) Total 248,636 2,732,709 282,963 -0- -0- -0- -0- (243,378) 3,020,930 Net Income (Loss) $3,288,374 $ 1,608,748 $ 278,708 $ 449,296 $ -0- $ 197,140 $ 453,550 $(2,987,442) $ 3,288,374 Average Number of Common Shares Outstanding 4,222,455 Earnings Per Average Common Share (Loss) $0.78
Exhibit A VALLEY RESOURCES, INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994
Valley Valley Valley Bristol & Propane & Morris Reclass. & Resources Gas Warren VAMCO RIDEC N. E. Gas Merchants Eliminations Consolidated ASSETS Utility Plant $61,968,432 $ 7,162,416 $69,130,848 Accumulated Depreciation 21,251,735 2,853,976 24,105,711 Net Utility Plant 40,716,697 4,308,440 45,025,137 Leased Property-Net 2,213,264 50,543 2,263,807 Nonutility Property-Net 83 $3,061,095 $ 382,691 $ 178,066 3,621,935 Investment in Subsidiaries $26,859,295 $(26,859,295) -0- Other Investments 199,454 1,273,698 1,473,152 Total 27,058,749 -0- 1,273,698 -0- $-0- -0- -0- (26,859,295) 1,473,152 Note Receivable 2,355,000 (2,355,000) -0- CURRENT ASSETS: Cash 272,731 1,606,344 (1,109,394) 44,493 58,829 873,003 Accts Receivable-Net 2,032,460 15,588,380 936,188 1,720,413 646,140 2,367,307 (9,542,417) 13,748,471 Deferred Fuel Costs -0- -0- -0- Unbilled Gas Costs 1,672,139 -0- 1,672,139 Fuel & Other Inventories 4,325,078 521,722 154,750 15,465 1,481,366 6,498,381 Prepayments 373,856 23,411 32,503 429,770 Common Stock Held for Drip 174,573 174,573 Total 2,479,764 23,565,797 371,927 1,875,163 706,098 3,940,005 (9,542,417) 23,396,337 DEFERRED DEBITS: Prepaid Pensions 4,921,908 242,011 5,163,919 Recoverable Trans Oblig 3,172,000 3,172,000 Recoverable Postret Bene 552,662 552,662 Recoverable Vacation Accr 673,800 673,800 Recoverable Deferred FIT 5,590,905 5,590,905 Unamort Debt Disc & Exp 1,619,643 1,619,643 Other 2,033,695 1,890,192 (35,762) 365,420 25,598 4,279,143 Total 4,921,908 13,884,716 1,890,192 (35,762) -0- 365,420 25,598 -0- 21,052,072 Total Assets $36,815,421 $80,380,474 $ 7,894,883 $4,900,496 $-0- $1,454,209 $4,143,669 $(38,756,712) $96,832,440
Exhibit A VALLEY RESOURCES, INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 1994
Valley Valley Valley Bristol & Propane & Morris Reclass. & Resources Gas Warren VAMCO RIDEC N. E. Gas Merchants Eliminations Consolidated LIABILITIES & CAPITALIZATION COMMON EQUITY: Common Stock $ 4,222,455 $10,700,000 $ 100,000 $ 500 $ 500 $ 2,500 $ 3,200 $(10,806,700) $ 4,222,455 Paid in Capital 17,786,696 1,577,808 2,701,974 488,466 20,440 569,101 4,064 (5,361,853) 17,786,696 Retained Earnings 5,477,034 6,450,224 (151,530) 1,914,360 (161,750) 635,814 2,003,624 (10,690,742) 5,477,034 Total 27,486,185 18,728,032 2,650,444 2,403,326 (140,810) 1,207,415 2,010,888 (26,859,295) 27,486,185 Less: Accts. Rec. ESOP (3,142,200) (3,142,200) Total 27,486,185 18,728,032 2,650,444 2,403,326 (140,810) 1,207,415 2,010,888 (30,001,495) 24,343,985 LONG-TERM DEBT: 8.0% Fst Mort Bonds 21,295,000 21,295,000 Note Payable 4,629,760 4,629,760 Total 4,629,760 21,295,000 -0- -0- -0- -0- -0- -0- 25,924,760 Oblig. Under Cap Lease 1,520,529 41,170 1,561,699 CURRENT LIABILITIES: Current Matur-LTD 450,000 -0- 450,000 Note Payable 17,685,028 1,653,000 (3,338,028) 16,000,000 Oblig. Under Cap Lease 692,734 9,373 702,107 Accounts Payable 1,739,056 2,939,098 1,477,989 1,404,434 140,810 67,775 1,620,426 (4,378,473) 5,011,115 Security Deposits 970,283 185,489 6,610 1,162,382 Dividends Declared 738,930 449,400 110,600 191,000 98,500 189,216 (1,038,716) 738,930 Taxes Accrued (739,767) 83,353 310,869 (345,545) Def. Federal Inc Taxes 419,536 (21,653) 397,883 Deferred Fuel Costs 1,333,210 412,441 1,745,651 Accrued Interest 62,668 127,519 118,957 (425) 308,719 Other 780,146 32,661 24,078 33,923 870,808 Total 2,990,654 24,657,187 4,083,863 1,619,512 140,810 172,460 2,132,781 (8,755,217) 27,042,050 DEFERRED CREDITS: Unamort Invest Credit 796,537 26,748 823,285 Transition Oblig 3,172,000 3,172,000 Unfunded Deferred FIT 1,914,850 1,914,850 Postret Pension Oblig 539,870 539,870 Other 1,235,149 523,178 192,636 1,950,963 Total 7,658,406 549,926 192,636 8,400,968 Def. Federal Inc Taxes 1,708,822 6,521,320 569,480 685,022 74,334 -0- 9,558,978 Total Liab & Capital $36,815,421 $80,380,474 $7,894,883 $4,900,496 $ -0- $1,454,209 $4,143,669 $(38,756,712) $96,832,440
EX-27 2
OPUR3 12-MOS AUG-31-1995 DEC-31-1994 PER-BOOK 96,832,440 81,724,654 3,288,374
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