On Monday, February 20, 1995 about 1410 eastern standard time, a Beech 95, N8226D, piloted by Matties Jimenez, was substantially damaged during a precautionary landing at Sky Acres airport, Millbrook, New York. The pilot and three passengers received minor injuries. Visual meteorological conditions prevailed. The flight was conducted under 14 CFR part 91. The pilot departed Sky Acres on a personal flight, destined for Farmingdale, New York. In the NTSB form 6120.1/2, the pilot stated: After takeoff...,I noticed that my electrical system was not working....As soon as I got electricity back, I lowered my landing gear [electrically] and noticed the down and lock indicator light illuminate, followed by a complete failure of the electrical system....[There was] no charge in the ammeter gages. I decided to turn back to [Sky Acres]... The pilot further stated in a statement submitted to the Federal Aviation Administration (FAA): ...I verified my wheels visually with the mirror outside the aircraft on the left engine cowling, followed by another check in the cockpit [with a mechanical indicator for the nose gear]....I landed and touched down on my main gear first. As soon as I [lowered the nose], the nose wheel collapsed. I tried to correct for the skidding aircraft down and left of the runway that followed as a result of the gear collapsing without success. This resulted on a sudden impact of the aircraft with the pond. The aircraft came to...rest, and we exited...immediately... During a telephone interview with the pilot, he stated, he tried to restore electrical power by recycling the generator switches, and was unsuccessful. According to the FAA Inspector, the nose gear and right main gear were partially extended. The airplane came to rest off the east side of runway 17, in a pond. An electrical system inspection was performed by Cawley Aviation Service under the supervision of the FAA. According to Cawley Aviation Service, the aircraft engines were run with the following results: With the left engine running and the left generator switch in the on position, the left generator would not come on line. With the right engine running and the right generator switch in the on position the right amp meter indicated normal output. The aircraft landing gear was manually put in the down and locked position. With electrical power on, the green down and locked light illuminated. Due to the bending of the landing gear retraction linkage, it was not possible to do an electrical gear extension to check for proper operation of the landing gear. The left generator circuit breaker was found in the tripped position. The left voltage regulator cover was removed and there was a slight burned odor in the field coil. The FAA Inspector's report of a telephone interview with Beechcraft, reported the following: Both generators could become inoperative if one of the voltage regulators fail, allowing the opposite generator to motorize the dead generator. In this case, both generators could be grounded and a total loss of electrical power could occur. According to the Pilot Operating Handbook, the unusual operating conditions stated, "LANDING GEAR EMERGENCY EXTENSION: The landing gear handcrank will lower the gear manually if the electrical system fails or if you wish to do so for some other reason."