Exhibit 10.1
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On UMB Letterhead


                            January 24, 2002


Mr. Ronald L. Krutzman
Treasurer and Assistant Secretary
Laclede Gas Company
720 Olive Street
St. Louis, MO  63101

Dear Mr. Krutzman:

UMB Bank, n.a. (the "Bank") is pleased to provide a $5,000,000 line of
credit maturing January 31, 2003 to Laclede Gas Company ("Laclede") for
general corporate purposes and for commercial paper backup. The Bank will
consider requests for advances with maturity dates of 90 days or less under
the line of credit until January 31, 2003. Our officers may, at their
discretion, make short-term loans to Laclede under the following terms.

All borrowings will be priced at Laclede's option at: (i) Bank's prime rate,
(ii) at LIBOR for a similar principal amount and maturity plus 1/4 of 1%,
(iii) the Bank's Certificate of Deposit rate for similar maturity plus
1/2 of 1%, or (iv) the Federal Funds interest rate for similar maturity plus
1/4 of 1%. Notes issued under this Line shall not exceed 90 days. If a note
is outstanding with a maturity after January 31, 2003, the note may be renewed
in whole or in part provided no note shall mature later than May 1, 2003.

Interest shall be payable at maturity or on date of repayment. Interest
shall be computed on the basis of actual 365/366 days for prime rate and
Federal Funds rate borrowings and on actual 360 day basis for LIBOR or
CD loans. Notes issued may be prepaid at any time without penalty.

It is understood that any loans obtained by any subsidiary of Laclede Gas
Company, whether or not they are guaranteed by Laclede Gas Company, are
excluded from this agreement and shall not be charged against the line of
credit described above.



Main Office
2 South Broadway
P.O. Box 66919
St. Louis, Missouri
63166-6919
(314) 621-1000
umb.com

Member FDIC

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                                                           January 24, 2002
UMB                                                                  Page 2


We ask that you supply us with quarterly financial data and other
information, which may be reasonably requested by the Bank from time to
time. The Bank may terminate this agreement at any time if Bank determines
in good faith that we are not satisfied with your conditions, operations or
performance, financial or otherwise. This letter, a/k/a the Line of Credit
Agreement, constitutes the entire understanding between the Bank and Laclede
regarding the line of credit.



UMB Bank, n.a.

By: /s/ Nicholas J. Maher
Name: Nicholas J. Maher
Title: Vice President

Accepted this 28th day of January, 2002


Laclede Gas Company

By: /s/ Ronald L. Krutzman
Name: Ronald L. Krutzman
Title: Treasurer and Assistant Secretary


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