SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
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 15 Pages)
<PAGE>
CUSIP No. 910637
1 NAME OF REPORTING PERSONS
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
American Ranger, Inc.
52-1488240
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) / /
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 7 SOLE VOTING POWER
SHARES 175,500 shares
BENEFICIALLY SHARED VOTING POWER
OWNDED BY EACH 8 0 shares
REPORTING SOLE DISPOSITIVE POWER
PERSON 9 157,500 shares
WITH 10 SHARED DISPOSITIVE POWER
0 shares
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
157,500 shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* /X/
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
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:
American Ranger, 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 which invests in
marketable securities and has several wholly-owned subsidiaries which hold
investments in real estate.
The reporting person is a wholly-owned subsidiary of D.T. Chase
Enterprises, Inc. ("DTCE"). DTCE is a holding company for various Chase
family interests. The address of DTCE's principal business and principal
office is: One Commercial Plaza, Hartford, Connecticut 06103. David T.
Chase (the husband of Rhoda L. Chase and father of Arnold L. Chase and
Cheryl A. Chase), Arnold L. Chase and Cheryl A. Chase are the directors and
executive officers of the reporting person and the directors and, together
with John P. Redding, the executive officers of DTCE. All of the outstanding
stock of DTCE 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).
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 and DTCE, 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 or DTCE 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 or DTCE 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 Delaware corporation. DTCE is a
Connecticut corporation. Each of the executive officers and directors of the
reporting person and DTCE is a citizen of the United States of America.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The reporting person purchased an aggregate of 157,500 shares of
Common Stock in open market transactions from May 7, 1997 through August
21, 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 $4,954,103. The funds to
purchase such shares came from the reporting person's working capital.
Cheryl A. Chase, Executive Vice President, Secretary and
director of the reporting person, purchased an aggregate of 24,000 shares
of Common Stock in open market transactions from July 28, 1997 through
September 25, 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 $857,972.
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 170,000 shares of Common Stock in open market
transactions from May 6, 1997 through September 25, 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 $5,311,231. The purchases were made with the
personal funds of the purchaser. David T. Chase, the Chairman of the Board
of Directors, President and Treasurer 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 252,500 shares of Common Stock in open market transactions
from May 5, 1997 through September 26, 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
$8,140,196. 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.
The reporting person is holding the 157,500 shares of Common
Stock it owns of record for investment purposes. Based on the reporting
person'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 the reporting person, offers for the reporting
person's shares of Common Stock, general economic conditions and other
future developments, the reporting person reserves the right to change its
plans and intentions at any time, as it deems appropriate. In particular,
the reporting person 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. The reporting person may
also 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 the reporting
person.
Other than the above, as of the date hereof, the reporting
person, its executive officers, directors and controlling persons do not
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, the reporting person owns of record and
beneficially 157,500 shares of Common Stock, representing approximately
1.1% of the 14,101,291 shares of Common Stock reported to be outstanding as
of June 30, 1997 (as reported in UI's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1997). As of the date hereof, DTCE is not the
beneficial owner of any Common Stock. Information with respect to the
Common Stock owned by the executive officers, directors and controlling
persons of the reporting person and DTCE 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) 24,000
shares of Common Stock, or 0.2% of the shares of Common Stock outstanding
as of June 30, 1997, owned by Cheryl A. Chase, (ii) 252,500 shares of
Common Stock, or 1.8% of the shares of Common Stock outstanding as of June
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) 170,000 shares of Common
Stock, or 1.2% of the Common Stock outstanding as of June 30, 1997, owned by
Arnold L. Chase, or (iv) 146,000 shares of Common Stock, or 1.0% of the shares
of Common Stock outstanding as of June 30, 1997, owned by the Trust.
(b) The reporting person has the sole power to vote or to direct the
vote of, and the sole power to dispose or to direct the disposition of, the
157,500 shares of Common Stock owned by it.
Cheryl A. Chase has the sole power to vote and to direct the vote of
the 24,000 shares of Common Stock owned by her. Arnold L. Chase has the
sole power to vote and to direct the vote of the 170,000 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) 252,500 shares of
Common Stock owned by Rhoda L. Chase with Rhoda L. Chase, (ii) 24,000
shares of Common Stock owned by Cheryl A. Chase with Cheryl A. Chase, (iii)
170,000 shares of Common Stock owned by Arnold L. Chase with Arnold L.
Chase and (iv) 146,00 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
the reporting person in the past 60 days are set forth on Schedule II,
which is incorporated herein by reference. All such transactions were
effected in the open market. 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 and DTCE in the past 60 days are set forth on Schedules III-VI, 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 the reporting person.
Each of David T. Chase and, with respect to the (i) 252,500
shares of Common Stock owned by Rhoda L. Chase, Rhoda L. Chase, (ii) 24,000
shares of Common Stock owned by Cheryl A. Chase, Cheryl A. Chase, (iii)
170,000 shares of Common Stock owned by Arnold L. Chase, Arnold L. Chase
and (iv) 146,00 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.
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 the Common Stock.
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 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 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 or 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: September 26, 1997 American Ranger, Inc.
By: /s/ Cheryl A. Chase
Name: Cheryl A. Chase
Title: Exec. Vice President
<PAGE>
SCHEDULE I
Directors and Executive Officers of American Ranger, Inc. and D.T.
Chase Enterprises, Inc.
<TABLE>
<CAPTION>
Name Residence Principal Titles At Aggregate #
or Business Address Occupation American of Shares of Percentage
or Employment Ranger, Inc. Common Stock of
and Title at Owned Common Stock
D.T. Chase Owned
Enterprises, Inc.
<S> <C> <C> <C> <C> <C>
David T. Chase c/o Chase Chairman of the Chairman of the 592,500 4.2%
Enterprises Board of Board of
One Commercial Directors Directors,
Plaza and President, President and
Hartford, CT 06103 D.T. Chase Treasurer
Enterprises, Inc.
Arnold L. Chase c/o Chase Executive Vice Director and 170,000 1.2%
Enterprises President and Executive
One Commercial Director, Vice President
Plaza D.T. Chase
Hartford, CT 06103 Enterprises, Inc.
Cheryl A. Chase c/o Chase Executive Vice Director, 24,000 0.2%
Enterprises President, Executive Vice
One Commercial General Counsel President and
Plaza and Director, Secretary
Hartford, CT 06103 D.T. Chase
Enterprises, Inc.
John P. Redding c/o Chase Senior Vice Vice President None 0.0%
Enterprises President,
One Commercial David T. Chase
Plaza Enterprises, Inc.
Hartford, CT 06103 and
Vice President,
D.T. Chase
Enterprises, Inc.
</TABLE>
<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
TOTAL 157,500
</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
TOTAL 24,000
</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
TOTAL 170,000
</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
TOTAL 252,500
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE VI
Transactions in The United Illuminating Company
Common Stock by The Darland Trust
DATE ACTION PRICE SHARES
<S> <C> <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 Phone
Occupation Employer Employer's Business
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 Phone
Occupation Employer Employer's Business
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>
