SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
The United Illuminating Company
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
- -------------------------------------------------------------------------------
(Title of Class of Securities)
910637
- -------------------------------------------------------------------------------
(CUSIP Number)
Terry Kasuga
Chase Enterprises
One Commercial Plaza, Hartford, Connecticut 06103-3585
(860) 549-1674
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 18, 1997
-------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
(Continued on the following pages)
(Page 1 of 17 Pages)
<PAGE>
CUSIP No. 910637
1 NAME OF REPORTING PERSONS
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
D.T. Chase Enterprises, Inc.
06-0892627
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) / /
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
NUMBER OF 7 SOLE VOTING POWER
SHARES 0 shares (see Row 11, below)
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH 0 shares (see Row 11, below)
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0 shares (see Row 11, below)
WITH 10 SHARED DISPOSITIVE POWER
0 shares (see Row 11, below)
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 shares, except to the extent that the reporting person is deemed to
share voting or dispositive power with respect to the 175,000 shares (or
1.2% of the shares outstanding) owned by American Ranger, Inc. by reason
of the affiliation described herein.
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* /X/
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0% (see Row 11, above)
14 TYPE OF REPORTING PERSON*
CO,HC
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. SECURITY AND ISSUER.
The class of equity securities to which this Statement on Schedule 13D
relates is the common stock, no par value (the "Common Stock"), of The United
Illuminating Company ("UI"), a Connecticut corporation whose principal
executive offices are located at 157 Church Street, New Haven, Connecticut
06506.
Item 2. IDENTITY AND BACKGROUND
(a) NAME:
D.T. Chase Enterprises, Inc.
(b) ADDRESS OF PRINCIPAL BUSINESS AND PRINCIPAL OFFICE:
One Commercial Plaza
Hartford, Connecticut 06103
(c) PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT:
The reporting person is a holding company for various Chase family
interests.
Information required by subsections (a) through (c) of this Item 2 with
respect to the executive officers, directors and controlling persons of the
reporting person, as of the date hereof, is incorporated herein by reference
to such information in Schedule I hereto.
(d) During the past five years, the reporting person has not been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors). During the past five years, none of the executive officers,
directors or controlling persons of the reporting person has been convicted in
a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the past five years, the reporting person has not been a
party to a civil proceeding of a judicial or an administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to
a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws. During the past five
years, none of the executive officers, directors or controlling persons of the
reporting person has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to such
laws.
(f) CITIZENSHIP:
The reporting person is a Connecticut corporation. Each of the executive
officers and directors of the reporting person is a citizen of the United
States of America.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The reporting person owns all of the outstanding capital stock of
American Ranger, Inc. ("ARI"). The reporting person's beneficial ownership of
Common Stock exists only to the extent that the reporting person is deemed to
share voting or dispositive power with respect to the shares of Common Stock
owned by ARI by reason of the reporting person's affiliation with ARI.
ARI purchased an aggregate of 175,000 shares of Common Stock in open
market transactions from May 7, 1997 through December 5, 1997. All such
transactions are set fourth on Schedule II hereto, which is incorporated
herein by reference. The aggregate consideration for all such purchases
(including commissions) was $5,665,395. The funds to purchase such shares
came from ARI's working capital.
Cheryl A. Chase, Executive Vice President, General Counsel and Director
of the reporting person, purchased an aggregate of 79,000 shares of Common
Stock in open market transactions from July 28, 1997 through December 3, 1997.
All such transactions are set forth on Schedule III hereto, which is
incorporated herein by reference. The aggregate consideration for all such
purchases (including commissions) was $2,999,187. The purchases were made
with the personal funds of the purchaser. Arnold L. Chase, Executive Vice
President and Director of the reporting person, purchased an aggregate of
225,000 shares of Common Stock in open market transactions from May 6, 1997
through December 3, 1997. All such transactions are set forth on Schedule IV
hereto, which is incorporated herein by reference. The aggregate
consideration for all such purchases (including commissions) was $7,452,446.
The purchases were made with the personal funds of the purchaser. David T.
Chase, the Chairman of the Board of Directors and President of the reporting
person, is a beneficial owner of the shares purchased by Cheryl A. Chase and
Arnold L. Chase. In addition, he is a beneficial owner of shares purchased by
Rhoda L. Chase and The Darland Trust (the "Trust"), as follows. Rhoda L.
Chase purchased an aggregate of 300,000 shares of Common Stock in open market
transactions from May 5, 1997 through December 1, 1997. All such transactions
are set forth on Schedule V hereto, which is incorporated herein by reference.
The aggregate consideration (including commissions) for all such purchases was
$10,000,071. The purchases were made with the personal funds of the
purchaser. The Trust purchased an aggregate of 146,000 shares of Common Stock
in open market transactions from May 6, 1997 through August 6, 1997. All such
transactions are set forth on Schedule VI hereto, which is incorporated herein
by reference. The aggregate consideration (including commissions) for all
such purchases was $4,452,032. The funds to purchase such shares came from
the reserves of the Trust.
Item 4. PURPOSE OF TRANSACTION.
To the best of the reporting person's knowledge, ARI is holding the
175,000 shares of Common Stock it owns of record for investment purposes.
Based on ARI's ongoing evaluation of the business, prospects and financial
condition of UI, the market for and price of the Common Stock, other
opportunities available to ARI, offers for ARI's shares of Common Stock,
general economic conditions and other future developments, ARI reserves the
right to change its plans and intentions at any time, as it deems appropriate.
In particular, ARI may decide to sell or seek the sale of all or part of its
present or future beneficial holdings of Common Stock, or may decide to
acquire additional Common Stock, or securities convertible into or
exchangeable for Common Stock, either in the open market, in private
transactions, or by any other permissible means. ARI also may decide to enter
into derivative transactions relating to the Common Stock. Any such
transactions may be effected at any time and from time to time. David T.
Chase, Cheryl A. Chase and Arnold L. Chase are each holding the Common Stock
owned by them for investment purposes. Such persons reserve the same rights
and may make the same evaluations as ARI.
Other than the above, as of the date hereof, neither the reporting person
nor, to the best of the reporting person's knowledge, its executive officers,
directors or controlling persons or ARI have any plans or proposals that
relate to or would result in any of the following:
(a) The acquisition by any person of additional securities of UI, or the
disposition of securities of UI;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving UI or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of UI or any of
its subsidiaries;
(d) Any change in the present board of directors or management of UI,
including any plans or proposals to change the number or term of directors or
to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend policy
of UI;
(f) Any other material change in UI's business or corporate structure;
(g) Changes in UI's charter, bylaws or instruments corresponding thereto
or other actions which may impede the acquisition of control of UI by any
person;
(h) Causing a class of securities of UI to be delisted from a national
securities exchange or to cease to be authorized to be quoted in an inter-
dealer quotation system of a registered national securities association;
(i) A class of equity securities of UI becoming eligible for termination
of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of
1934, as amended (the "Exchange Act"); or
(j) Any action similar to any of those enumerated above.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the date hereof, ARI owns of record and beneficially 175,000
shares of Common Stock, representing approximately 1.2% of the 14,101,291
shares of Common Stock reported to be outstanding as of September 30, 1997 (as
reported in UI's Quarterly Report on Form 10-Q for the quarter ended September
30, 1997). Except to the extent that the reporting person is deemed to share
voting or dispositive power with respect to the 175,000 shares of Common Stock
owned by ARI by reason of the affiliation described herein, the reporting
person is not the beneficial owner of any shares of Common Stock. Information
with respect to the Common Stock owned by the executive officers, directors
and controlling persons of the reporting person is set forth in Schedule I
hereto, which is incorporated herein by reference, and in the following
paragraph.
In accordance with Rule 13d-4 under the Exchange Act, the reporting
person expressly declares that the filing of this statement shall not be
construed as an admission that it is, for purposes of Section 13(d) or 13(g)
of the Exchange Act, the beneficial owner of any of the (i) 79,000 shares of
Common Stock, or 0.6% of the shares of Common Stock reported to be outstanding
as of September 30, 1997, owned by Cheryl A. Chase, (ii) 300,000 shares of
Common Stock, or 2.1% of the shares of Common Stock reported to be outstanding
as of September 30, 1997, owned by Rhoda L. Chase, the mother of Cheryl A.
Chase and Arnold L. Chase and the wife of David T. Chase, (iii) 225,000 shares
of Common Stock, or 1.6% of the shares of Common Stock reported to be
outstanding as of September 30, 1997, owned by Arnold L. Chase, or (iv)
146,000 shares of Common Stock, or 1.0% of the shares of Common Stock reported
to be outstanding as of September 30, 1997, owned by the Trust. David T.
Chase may be deemed to be a beneficial owner of all of the shares of Common
Stock referred to in the immediately preceding sentence.
(b) The reporting person does not have the sole or shared power to vote,
direct the voting of, dispose of, or direct the disposition of, any shares of
Common Stock, except to the extent that the reporting person is deemed to
share voting or dispositive power with respect to the 175,000 shares of Common
Stock owned by ARI by reason of the affiliation described herein.
Cheryl A. Chase has the sole power to vote and to direct the vote of the
79,000 shares of Common Stock owned by her. Arnold L. Chase has the sole
power to vote and to direct the vote of the 225,000 shares of Common Stock
owned by him. Cheryl A. Chase and Arnold L. Chase each share the power to
dispose or to direct the disposition of their respective shares of Common
Stock with David T. Chase.
David T. Chase does not have the sole or shared power to vote or direct
the vote of any shares of Common Stock. David T. Chase shares the power to
dispose or to direct the disposition of the (i) 300,000 shares of Common Stock
owned by Rhoda L. Chase with Rhoda L. Chase, (ii) 79,000 shares of Common
Stock owned by Cheryl A. Chase with Cheryl A. Chase, (iii) 225,000 shares of
Common Stock owned by Arnold L. Chase with Arnold L. Chase and (iv) 146,000
shares of Common Stock owned by the Trust with the Trust.
Rhoda L. Chase's residence is at 96 High Ridge Road, West Hartford,
Connecticut 06117. She is not employed. Rhoda L. Chase is a citizen of the
United States of America. The Trust is a trust for which Rothschild Trust
Cayman Limited serves as trustee and of which Cheryl A. Chase and her children
are the beneficiaries. The Trust's address is FBO: The Darland Trust, P.O.
Box 472, St. Peter's House, Le Bordage, St. Peter Port, Guernsey GYI6AX,
Channel Islands. The Trust is an entity of the Cayman Islands.
During the past five years, neither Rhoda L. Chase nor the Trust has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors). During the past five years, neither Rhoda L. Chase nor the
Trust has been a party to a civil proceeding of a judicial or an
administrative body of competent jurisdiction and as a result of such
proceeding is or was subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to such
laws.
(c) All transactions in the Common Stock effected by or on behalf of ARI
in the past 60 days are set forth on Schedule II hereto, which is incorporated
herein by reference. All such transactions were effected in the open market.
Except to the extent that such transactions are attributed to the reporting
person by reason of the affiliation described herein, no transactions in the
Common Stock have been effected by or on behalf of the reporting person during
the past 60 days. To the reporting person's knowledge, all transactions in
the Common Stock effected by or for the benefit of executive officers,
directors and controlling persons of the reporting person in the past 60 days
are set forth on Schedules III-VI hereto, which are incorporated herein by
reference. All such transactions were effected in the open market.
(d) No other person is known to have the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the sale of, the
shares of Common Stock owned by ARI.
Each of David T. Chase and, with respect to the (i) 300,000 shares of
Common Stock owned by Rhoda L. Chase, Rhoda L. Chase, (ii) 79,000 shares of
Common Stock owned by Cheryl A. Chase, Cheryl A. Chase, (iii) 225,000 shares
of Common Stock owned by Arnold L. Chase, Arnold L. Chase and (iv) 146,000
shares of Common Stock owned by the Trust, the Trust, has the power to direct
the dividends from, and the proceeds from the sale of, the shares of Common
Stock owned by such person. No other person is known to have the right to
receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the shares of Common Stock owned by such persons.
(e) Not applicable.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
The reporting person owns all of the outstanding capital stock of ARI.
David T. Chase, Arnold L. Chase and Cheryl A. Chase, the directors and three
of the four executive officers of the reporting person, are the directors and
executive officers of ARI. All of the outstanding stock of the reporting
person is owned by David T. Chase (33.95%), Rhoda L. Chase (2.21%), Arnold L.
Chase (9.34%), Cheryl A. Chase (14.74%), five trusts for the benefit of Arnold
L. Chase's children and two trusts for the benefit of Arnold L. Chase, his
spouse and/or his children, of which Stanley N. Bergman and Arnold L. Chase
are co-trustees (20.15% in the aggregate), and five trusts for the benefit of
Cheryl A. Chase's children and two trusts for the benefit of Cheryl A. Chase
and/or her children, of which Stanley N. Bergman and Cheryl A. Chase are co-
trustees (19.61% in the aggregate).
Pursuant to a General Trading Authorization for Securities and/or Options
Accounts (each , a "Trading Authorization"), each of Rhoda L. Chase, Cheryl.
A. Chase, Arnold L. Chase and the Trust has granted to David T. Chase the
power to enter orders to purchase and sell securities for the brokerage
account in which such person or entity holds all of the shares of Common Stock
owned by it. Each Trading Authorization also confers upon David T. Chase the
power to buy and sell on margin, to sell short for such account and to give
instructions as to the transfer of money and property from such account. The
powers granted by each Trading Authorization remain effective until terminated
by the grantor of such Trading Authorization.
The foregoing description of the Trading Authorizations is subject to,
and is qualified in its entirety by reference to, the forms of Trading
Authorizations, which are filed as exhibits to this Statement on Schedule 13D.
David T. Chase manages certain funds on behalf of the Trust. In such
capacity and pursuant to the Trading Authorization granted by the Trust, David
T. Chase effected the purchase of the shares of Common Stock owned by the
Trust and may, in the future, effect the sale of some or all of such shares or
effect the purchase of additional shares of Common Stock for the account of
the Trust.
Except as described in this Statement on Schedule 13D, the reporting
person knows of no contracts, arrangements, understandings or relationships
(legal or otherwise) between any of the persons named in Item 2 or between
such persons and any other person with respect to any securities of UI,
including, but not limited to, transfer or voting of any of the securities,
finder's fees, joint ventures, loan or option arrangements, puts or calls,
guarantees of profits, division of profits or loss, or the giving or
withholding of proxies.
The reporting person has not agreed to act together with any other person
or entity for the purpose of acquiring, holding, voting or disposing of shares
of Common Stock and the reporting person disclaims membership in any "group"
with respect to the Common Stock for purposes of Section 13(d) (3) of the
Exchange Act and Rule 13d-5(b) (1) adopted thereunder.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
(1) Form of Trading Authorization granted by Rhoda L. Chase.
(2) Form of Trading Authorization granted by Cheryl A. Chase.
(3) Form of Trading Authorization granted by Arnold L. Chase.
(4) Form of Trading Authorization granted by the Trust.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
the reporting person certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 8, 1997 D.T. Chase Enterprises, Inc.
By: /s/ Cheryl A. Chase
Name: Cheryl A. Chase
Title: Executive Vice President
<PAGE>
SCHEDULE I
Directors and Executive Officers of D.T. Chase Enterprises, Inc.
<TABLE>
<CAPTION>
Name Residence Principal Aggregate #
or Business Address Occupation of Shares of Percentage
or Employment Common Stock of
and Title at Owned Common Stock
D.T. Chase Owned
Enterprises,
Inc.
<S> <C> <C> <C> <C>
David T. Chase c/o Chase Chairman of the 750,000{1} 5.3%
Enterprises Board of
One Commercial Directors
Plaza and President,
Hartford, CT 06103 D.T. Chase
Enterprises,
Inc.
Arnold L. Chase c/o Chase Executive Vice 225,000 1.6%
Enterprises President and
One Commercial Director,
Plaza D.T. Chase
Hartford, CT 06103 Enterprises,
Inc.
Cheryl A. Chase c/o Chase Executive Vice 79,000 0.6%
Enterprises President,
One Commercial General Counsel
Plaza and Director,
Hartford, CT 06103 D.T. Chase
Enterprises,
Inc.
John P. Redding c/o Chase Senior Vice None 0.0%
Enterprises President, David
One Commercial T. Chase
Plaza Enterprises,
Hartford, CT 06103 Inc. and Vice
President, D.T.
Chase
Enterprises,
Inc.
</TABLE>
**FOOTNOTES**
{1} Includes 300,000 shares owned by Rhoda L. Chase, 225,000 shares
owned by Arnold L. Chase, 79,000 shares owned by Cheryl A. Chase
and 146,000 shares owned by The Darland Trust as to which David
T. Chase shares dispositive power.
<PAGE>
SCHEDULE II
Transactions in The United Illuminating Company
Common Stock by American Ranger, Inc.
<TABLE>
<CAPTION>
DATE ACTION PRICE SHARES
<S> <C> <C> <C>
5/7/97 Buy 26 3/8 20,000
5/8/97 Buy 26 3/8 9,000
5/12/97 Buy 26 1/2 1,000
5/22/97 Buy 27.976 20,000
6/23/97 Buy 29 3/4 7,500
6/25/97 Buy 29.725 2,500
6/26/97 Buy 30.000 15,000
7/21/97 Buy 33.205 4,400
7/21/97 Buy 33.222 15,400
7/22/97 Buy 33.514 5,200
8/4/97 Buy 35.000 600
8/5/97 Buy 35.000 5,000
8/5/97 Buy 34.943 10,900
8/6/97 Buy 34.992 3,000
8/7/97 Buy 35 1/8 3,000
8/8/97 Buy 35 1/8 11,500
8/11/97 Buy 35 1/16 5,300
8/11/97 Buy 35 1/8 9,500
8/12/97 Buy 35 1/4 1,200
8/18/97 Buy 34 3/4 100
8/20/97 Buy 35.000 6,400
8/21/97 Buy 35.000 1,000
10/21/97 Buy 38.995 2,000
12/03/97 Buy 40.689 5,500
12/04/97 Buy 40.914 6,400
12/05/97 Buy 40.771 3,600
TOTAL 175,000
</TABLE>
<PAGE>
SCHEDULE III
Transactions in The United Illuminating Company
Common Stock by Cheryl A. Chase
<TABLE>
<CAPTION>
DATE ACTION PRICE SHARES
<S> <C> <C> <C>
7/28/97 Buy 34.000 5,000
8/18/97 Buy 34.902 4,000
8/19/97 Buy 35.000 2,500
9/18/97 Buy 36.968 7,500
9/25/97 Buy 34.479 5,000
10/08/97 Buy 37.567 5,400
10/08/97 Buy 37.790 2,100
10/21/97 Buy 38.995 7,500
10/24/97 Buy 38.113 5,000
10/27/97 Buy 37.858 7,750
10/28/97 Buy 37.563 7,250
11/26/97 Buy 40.008 10,000
12/01/97 Buy 40.750 8,400
12/03/97 Buy 40.689 1,600
TOTAL 79,000
</TABLE>
<PAGE>
SCHEDULE IV
Transactions in The United Illuminating Company
Common Stock by Arnold L. Chase
<TABLE>
<CAPTION>
DATE ACTION PRICE SHARES
<S> <C> <C> <C>
5/6/97 Buy 26 1/4 9,000
5/7/97 Buy 26 3/8 9,000
5/7/97 Buy 26.239 6,000
5/8/97 Buy 26 3/8 3,000
5/13/97 Buy 26 3/8 9,666
5/14/97 Buy 26 1/2 6,567
5/15/97 Buy 26 1/2 1,667
5/19/97 Buy 27 3/4 5,100
5/22/97 Buy 27.976 5,000
5/23/97 Buy 28.000 10,000
6/20/97 Buy 29.829 10,000
7/1/97 Buy 30.729 600
7/7/97 Buy 32.098 9,400
7/16/97 Buy 33.986 1,750
7/16/97 Buy 33.700 4,750
7/18/97 Buy 33.935 8,500
7/24/97 Buy 33.489 10,500
7/25/97 Buy 33.737 3,500
7/28/97 Buy 34.000 2,500
7/28/97 Buy 34 1/8 16,000
7/29/97 Buy 34 1/8 100
8/1/97 Buy 34.435 4,300
8/1/97 Buy 34 1/2 2,400
8/4/97 Buy 35.025 11,400
8/5/97 Buy 34 15/16 200
8/6/97 Buy 34.992 100
8/18/97 Buy 34.902 4,000
8/19/97 Buy 35.000 2,500
9/18/97 Buy 36.968 7,500
9/25/97 Buy 36.479 5,000
10/08/97 Buy 37.567 5,400
10/08/97 Buy 37.790 2,100
10/21/97 Buy 38.995 7,500
10/24/97 Buy 38.113 5,000
10/27/97 Buy 37.858 7,750
10/28/97 Buy 37.563 7,250
11/26/97 Buy 40.008 10,000
12/01/97 Buy 40.750 8,400
12/03/97 Buy 40.689 1,600
TOTAL 225,000
</TABLE>
<PAGE>
SCHEDULE V
Transactions in The United Illuminating Company
Common Stock by Rhoda L. Chase
<TABLE>
<CAPTION>
DATE ACTION PRICE SHARES
<S> <C> <C> <C>
5/5/97 Buy 25 5/8 2,000
5/6/97 Buy 26 1/4 7,000
5/7/97 Buy 26 3/8 10,000
5/7/97 Buy 26.239 5,000
5/8/97 Buy 26 3/8 3,000
5/13/97 Buy 26 3/8 9,668
5/14/97 Buy 26 1/2 6,566
5/15/97 Buy 26 1/2 1,666
5/19/97 Buy 27 3/4 5,100
5/23/97 Buy 28.000 20,000
6/20/97 Buy 29.829 5,000
7/1/97 Buy 30.729 600
7/7/97 Buy 32.098 9,400
7/14/97 Buy 32 1/2 1,500
7/15/97 Buy 32 15/16 13,500
7/23/97 Buy 33.653 10,000
7/24/97 Buy 33.489 15,000
7/28/97 Buy 34 1/8 75,000
8/21/97 Buy 35.000 8,300
8/22/97 Buy 34.993 19,200
9/18/97 Buy 36.968 4,000
9/18/97 Buy 36.800 6,000
9/25/97 Buy 36.479 5,000
9/26/97 Buy 36.946 10,000
10/08/97 Buy 37.567 7,200
10/08/97 Buy 37.790 2,800
10/21/97 Buy 38.995 8,800
10/21/97 Buy 38.698 1,200
10/23/97 Buy 38.000 5,000
10/23/97 Buy 37.875 500
10/28/97 Buy 37.563 500
10/28/97 Buy 37.500 2,000
11/25/97 Buy 39.031 1,000
11/26/97 Buy 40.008 5,100
11/28/97 Buy 40.634 2,000
12/01/97 Buy 40.750 11,400
TOTAL 300,000
</TABLE>
<PAGE>
SCHEDULE VI
Transactions in The United Illuminating Company
Common Stock by The Darland Trust
<TABLE>
<CAPTION>
DATE ACTION PRICE SHARES
<S> <C> <C> <C>
5/6/97 Buy 26 1/4 9,000
5/7/97 Buy 26 3/8 9,000
5/7/97 Buy 26.239 6,000
5/8/97 Buy 26 3/8 2,000
5/13/97 Buy 26 3/8 10,666
5/14/97 Buy 26 1/2 6,567
5/15/97 Buy 26 1/2 1,667
5/19/97 Buy 27 3/4 5,100
5/22/97 Buy 27.976 5,000
5/23/97 Buy 28.000 10,000
6/20/97 Buy 29.829 10,000
7/1/97 Buy 30.729 600
7/7/97 Buy 32.098 9,400
7/16/97 Buy 33.986 1,750
7/16/97 Buy 33.700 4,750
7/17/97 Buy 33 15/16 5,000
7/18/97 Buy 33.935 3,500
7/24/97 Buy 33.489 10,500
7/25/97 Buy 33.737 3,500
7/28/97 Buy 34 1/8 16,000
8/1/97 Buy 34.435 4,300
8/4/97 Buy 35.025 11,400
8/5/97 Buy 34 15/16 200
8/6/97 Buy 34.992 100
-----
TOTAL 146,000
</TABLE>
<PAGE>
EXHIBIT 1
GENERAL TRADING AUTHORIZATION FOR SECURITIES AND/OR OPTIONS ACCOUNTS
(AUTHORIZATION MAY NOT BE EXTENDED TO EMPLOYEES OF PAINEWEBBER)
ACCOUNT NAME Branch Account Number Broker
Rhoda L. Chase | X | X | | X | X | X | X | X | | X | X |
THIS WILL CONFIRM THE AUTHORITY OF
David T. Chase
(Agent name)
C/O CHASE ENTERPRISES
ONE COMMERCIAL PLAZA
HARTFORD CT 06103
(Complete address)
to enter orders with you as brokers, or as dealers acting for your own account,
or as brokers for some other person, and in accordance with your terms and
conditions for my account and risk. To purchase and sell securities and
similar property and enter into those option contracts indicated below. I
hereby ratify and confirm any and all transactions, trades or dealings effected
in and for my account by my agent in connection with the authority granted
hereunder.
(INITIAL BOXES TO INDICATE AGENCY GRANTED)
(1) |RLC| To buy and sell on margin: (cash account only if not initialed)
(2) |RLC| To sell short: (box (1) must also be initialed)
(3) |RLC| To give you instructions as to the transfer of money and property
from my account to me, or to others
(4) |RLC| To do Options as follows: (THE TERM "OPTIONS" IS INCLUSIVE OF PUTS
AND CALLS)
| | COVERED | | BUY OPTIONS AND COVERED |RLC| ALL OPTION TRANSACTIONS
WRITING ONLY WRITING ONLY (INCLUDING UNCOVERED OPTIONS)
This authorization is in addition to (and in no way limits or restricts)
any and all rights which you may have under any other agreement(s) between your
firm and me and is to remain effective until you receive written notice from me
to the contrary, shall survive my disability or incompetence, shall bind my
estate on all transactions by you after but without knowledge of my death and
shall inure to your benefit and the benefit of any successor corporation or
firms.
Signed, sealed and delivered by /S/ Rhoda L. Chase DATE
(Signature of Principal)
In the presence of: DATE
(Signature of Witness)
INSTRUCTIONS AS TO NOTICES
Please send all confirmation, statements, and other communications as checked
below:
| | Send to me only
|RLC| Send to me and to agent. /s/ Rhoda L. Chase
Signature of Principal)
ACCEPTANCE OF AGENCY
/s/ David T. Chase DATE
(Signature of Agent Authorized to Act)
DATE
(Branch Office Manager's approval)
OPTION ACCOUNTS:
LIMITATIONS
SENIOR ROP APPROVAL: DATE
I N A C 4 REV. 12/95 IMPORTANT - REVERSE SIDE MUST BE COMPLETED BY AGENT
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TO BE COMPLETED BY AUTHORIZED AGENT
<S> <C> <C> <C> <C>
Age
Mr.
Mrs.
Ms.
Home Address Home Phone
Occupation Employer Employer's Business
Business Address Business Phone
Citizen Of Agent's Relationship,
If Any, To The Principal Agent's Account No.
With PW (if any)
Agent's Investment Experience:
(Years of Experience) Reason for Agency
Options:
Stock/Bonds:
Commodities:
Other (Specify)
Authorized Agent's
Signature
</TABLE>
<PAGE>
EXHIBIT 2
GENERAL TRADING AUTHORIZATION FOR SECURITIES AND/OR OPTIONS ACCOUNTS
(AUTHORIZATION MAY NOT BE EXTENDED TO EMPLOYEES OF PAINEWEBBER)
ACCOUNT NAME Branch Account Number Broker
Cheryl Chase Freedman | X | X | | X | X | X | X | X | | X | X |
THIS WILL CONFIRM THE AUTHORITY OF
David T. Chase
(Agent name)
CHASE ENTERPRISES ONE COMMERCIAL PLAZA HARTFORD CT 06103
(Complete address)
to enter orders with you as brokers, or as dealers acting for your own account,
or as brokers for some other person, and in accordance with your terms and
conditions for my account and risk. To purchase and sell securities and
similar property and enter into those option contracts indicated below. I
hereby ratify and confirm any and all transactions, trades or dealings effected
in and for my account by my agent in connection with the authority granted
hereunder.
(INITIAL BOXES TO INDICATE AGENCY GRANTED)
(1) |X| To buy and sell on margin: (cash account only if not initialed)
(2) |X| To sell short: (box (1) must also be initialed)
(3) |X| To give you instructions as to the transfer of money and property
from my account to me, or to others
(4) |X| To do Options as follows: (THE TERM "OPTIONS" IS INCLUSIVE OF PUTS
AND CALLS)
| | COVERED | | BUY OPTIONS AND COVERED |X| ALL OPTION TRANSACTIONS
WRITING ONLY WRITING ONLY (INCLUDING UNCOVERED OPTIONS)
This authorization is in addition to (and in no way limits or restricts)
any and all rights which you may have under any other agreement(s) between your
firm and me and is to remain effective until you receive written notice from me
to the contrary, shall survive my disability or incompetence, shall bind my
estate on all transactions by you after but without knowledge of my death and
shall inure to your benefit and the benefit of any successor corporation or
firms.
Signed, sealed and delivered by /S/ CHERYL CHASE FREEDMAN DATE
(Signature of Principal)
In the presence of: /S/ John P. Redding DATE
(Signature of Witness)
INSTRUCTIONS AS TO NOTICES
Please send all confirmation, statements, and other communications as checked
below:
| | Send to me only
| | Send to me and to agent. (Signature of Principal)
ACCEPTANCE OF AGENCY
DATE
(Signature of Agent Authorized to Act)
/S/ William V. Guerin DATE 10/10/95
(Branch Office Manager's approval)
OPTION ACCOUNTS:
LIMITATIONS
SENIOR ROP APPROVAL: DATE
I N A C 4 REV. 12/95 IMPORTANT - REVERSE SIDE MUST BE COMPLETED BY AGENT
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TO BE COMPLETED BY AUTHORIZED AGENT
<S> <C> <C> <C> <C>
Age
Mr. David T. Chase 65
Home Address Home Phone
96 High Ridge Road,
West Hartford, CT 06117 860-233-4446
Occupation Employer Employer's Business
Executive Chase Enterprises Financial
Business Address Business Phone
One Commercial Plaza,
Hartford, CT 06103 203-549-1674
Citizen Of Agent's Relationship,
If Any, To The Principal Agent's Account No.
With PW (if any)
USA Father XXXXXXX
Agent's Investment Experience:
(Years of Experience) Reason for Agency
Options: 10 years
Stock/Bonds: 10 years
Commodities: 10 years /s/ David T. Chase
Other (Specify) 10 years
David T. Chase -
Authorized Agent's
Signature
</TABLE>
EXHIBIT 3
GENERAL TRADING AUTHORIZATION FOR SECURITIES AND/OR OPTIONS ACCOUNTS
(AUTHORIZATION MAY NOT BE EXTENDED TO EMPLOYEES OF PAINEWEBBER)
ACCOUNT NAME Branch Account Number Broker
Arnold L. Chase | X | X | | X | X | X | X | X | | X | X |
THIS WILL CONFIRM THE AUTHORITY OF
David T. Chase
(Agent name)
CHASE ENTERPRISES ONE COMMERCIAL PLAZA HARTFORD CT 06103
(Complete address)
to enter orders with you as brokers, or as dealers acting for your own account,
or as brokers for some other person, and in accordance with your terms and
conditions for my account and risk. To purchase and sell securities and
similar property and enter into those option contracts indicated below. I
hereby ratify and confirm any and all transactions, trades or dealings effected
in and for my account by my agent in connection with the authority granted
hereunder.
(INITIAL BOXES TO INDICATE AGENCY GRANTED)
(1) |X| To buy and sell on margin: (cash account only if not initialed)
(2) |X| To sell short: (box (1) must also be initialed)
(3) |X| To give you instructions as to the transfer of money and property
from my account to me, or to others
(4) |X| To do Options as follows: (THE TERM "OPTIONS" IS INCLUSIVE OF PUTS
AND CALLS)
| | COVERED | | BUY OPTIONS AND COVERED |X| ALL OPTION TRANSACTIONS
WRITING ONLY WRITING ONLY (INCLUDING UNCOVERED OPTIONS)
This authorization is in addition to (and in no way limits or restricts)
any and all rights which you may have under any other agreement(s) between your
firm and me and is to remain effective until you receive written notice from me
to the contrary, shall survive my disability or incompetence, shall bind my
estate on all transactions by you after but without knowledge of my death and
shall inure to your benefit and the benefit of any successor corporation or
firms.
Signed, sealed and delivered by /S/ Arnold L. Chase DATE 10/10/95
(Signature of Principal)
In the presence of: /S/ John P. Redding DATE 10/10/95
(Signature of Witness)
INSTRUCTIONS AS TO NOTICES
Please send all confirmation, statements, and other communications as checked
below:
| | Send to me only
| | Send to me and to agent. /s/ Arnold L. Chase
(Signature of Principal)
Arnold L. Chase
ACCEPTANCE OF AGENCY
/s/ David T. Chase DATE 10/10/95
(Signature of Agent Authorized to Act)
/s/ William V. Guerin DATE 10/10/95
(Branch Office Manager's approval)
OPTION ACCOUNTS:
LIMITATIONS
SENIOR ROP APPROVAL: DATE
I N A C 4 REV. 12/95 IMPORTANT - REVERSE SIDE MUST BE COMPLETED BY AGENT
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TO BE COMPLETED BY AUTHORIZED AGENT
<S> <C> <C> <C> <C>
Age
Mr.
Mrs.
Ms.
Home Address Home Phone
Occupation Employer Employer's Business
Business Address Business Phone
Citizen Of Agent's Relationship,
If Any, To The Principal Agent's Account No.
With PW (if any)
Agent's Investment Experience:
(Years of Experience) Reason for Agency
Options:
Stock/Bonds:
Commodities:
Other (Specify)
Authorized Agent's
Signature
</TABLE>
<PAGE>
EXHIBIT 4
GENERAL TRADING AUTHORIZATION FOR SECURITIES AND/OR OPTIONS ACCOUNTS
(AUTHORIZATION MAY NOT BE EXTENDED TO EMPLOYEES OF PAINEWEBBER)
ACCOUNT NAME Branch Account Number Broker
The Darland Trust | X | X | | X | X | X | X | X | | X | X |
THIS WILL CONFIRM THE AUTHORITY OF
David T. Chase
(Agent name)
96 High Ridge Road, West Hartford, CT 06117
(Complete address)
to enter orders with you as brokers, or as dealers acting for your own account,
or as brokers for some other person, and in accordance with your terms and
conditions for my account and risk. To purchase and sell securities and
similar property and enter into those option contracts indicated below. I
hereby ratify and confirm any and all transactions, trades or dealings effected
in and for my account by my agent in connection with the authority granted
hereunder.
(INITIAL BOXES TO INDICATE AGENCY GRANTED)
(1) |X| To buy and sell on margin: (cash account only if not initialed)
(2) |X| To sell short: (box (1) must also be initialed)
(3) |X| To give you instructions as to the transfer of money and property
from my account to me, or to others
(4) |X| To do Options as follows: (THE TERM "OPTIONS" IS INCLUSIVE OF PUTS
AND CALLS)
| | COVERED | | BUY OPTIONS AND COVERED |X| ALL OPTION TRANSACTIONS
WRITING ONLY WRITING ONLY (INCLUDING UNCOVERED OPTIONS)
This authorization is in addition to (and in no way limits or restricts)
any and all rights which you may have under any other agreement(s) between your
firm and me and is to remain effective until you receive written notice from me
to the contrary, shall survive my disability or incompetence, shall bind my
estate on all transactions by you after but without knowledge of my death and
shall inure to your benefit and the benefit of any successor corporation or
firms.
Signed, sealed and delivered by /S/ Jane Betley DATE 30 October 1995
(Signature of Principal)
X ROTHSCHILD TRUST GUERNSEY LIMITED AS TRUSTEE AUTHORIZED SIGNATORIES
In the presence of: DATE
(Signature of Witness)
INSTRUCTIONS AS TO NOTICES
Please send all confirmation, statements, and other communications as checked
below:
| | Send to me only
|X| Send to me and to agent. /s/ Jane Betley
(Signature of Principal)
ROTHSCHILD TRUST GUERNSEY LIMITED AS
TRUSTEE AUTHORIZED SIGNATORIES
ACCEPTANCE OF AGENCY
/s/ David T. Chase DATE 10/20/95
David T. Chase
(Signature of Agent Authorized to Act)
DATE
(Branch Office Manager's approval)
OPTION ACCOUNTS:
LIMITATIONS
SENIOR ROP APPROVAL: DATE
I N A C 4 REV. 12/95 IMPORTANT - REVERSE SIDE MUST BE COMPLETED BY AGENT
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
TO BE COMPLETED BY AUTHORIZED AGENT
<S> <C> <C> <C> <C>
Age
Mr. David T. Chase 65
Home Address Home Phone
96 High Ridge Road,
West Hartford, CT 06117 860-233-4446
Occupation Employer Employer's Business
Executive Chase Enterprises Financial
Business Address Business Phone
One Commercial Plaza,
Hartford, CT 06103 860-549-1674
Citizen Of Agent's Relationship,
If Any, To The Principal Agent's Account No.
With PW (if any)
USA XXXXXXX
Agent's Investment Experience:
(Years of Experience) Reason for Agency
Options: 10 years
Stock/Bonds: 10 years
Commodities: 10 years /s/ David T. Chase
Other (Specify)
David T. Chase -
Authorized Agent's
Signature
</TABLE>
