AMENDMENT NO. 3 TO SCHEDULE 13D
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D/A3
(Amendment No. 3)
Under the Securities Exchange Act of 1934
UNITED PARK CITY MINES COMPANY
(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
(Title of Class of Securities)
911315208
(CUSIP Number)
STEPHEN L. FARLEY
FARLEY CAPITAL L.P.
655 THIRD AVENUE, SUITE 2520
NEW YORK, NEW YORK 10017
(212) 557-7776
(Name, address and telephone number of person
authorized to receive notices and communications)
November 14, 1997
(Date of event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13D,
and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box. [ ].
Check the following box if a fee is being paid with the statement [ ].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
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.
The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for purposes of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 9 Pages
<PAGE>
13D/A3
CUSIP NO. 911315208
- ------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Labrador Partners L.P.
- ------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
- ------------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ---------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
281,500
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
281,500
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
281,500
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
9.2%
- ------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 9 Pages
<page
13D/A3
CUSIP No. 911315208
- ------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Farley Capital L.P.
- ------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS
00
- ------------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ---------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
54,271
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
54,271
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
54,271
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.8%
- ------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 9 Pages
<page
13D/A3
CUSIP NO. 911315208
- ------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Stephen L. Farley
- ------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS
AF
- ------------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ---------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
335,771
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
335,771
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
335,771
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
11.0%
- ------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 9 Pages
<page
ITEM 1. SECURITY AND ISSUER.
This Amendment No. 3 amends the statement on Schedule 13D (the
"Statement") which was filed on July 8, 1997, Amendment No. 1 to the Statement
which was filed on August 22, 1997 and Amendment No. 2 to the Statement which
was filed on October 20, 1997. Amendment No. 3 is being filed with the
Securities and Exchange Commission (the "Commission") by the undersigned with
respect to the common stock, par value $.01 per share ("Common Stock"), of
United Park City Mines Company, a Delaware corporation (the "Issuer"), with
its principal executive offices located at P.O. Box 1450 Park City, Utah
84060. Capitalized terms used herein and not otherwise defined in this
Amendment No. 3 have the meanings set forth in the Statement.
Except as specifically provided herein, this Amendment No. 3 does not
modify any of the information previously reported in the Statement.
* * *
Items 3,4 and 5 are hereby amended and restated as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The aggregate number of shares of Common Stock purchased by Labrador
Partners L.P. ("Labrador Partners") and Farley Capital L.P. ("Farley Capital")
and the net investment cost of such Common Stock is as follows:
Aggregate Number
of Shares of
Common Stock Net Investment Cost
Labrador Partners 281,500 $ 5,857,266.71
Farley Capital 54,271 $ 1,258,046.72
The Common Stock purchased by Labrador Partners was purchased with
its working capital. The Common Stock purchased by Farley Capital was
purchased with the investment capital of discretionary accounts under its
management. No portion of the purchase price paid by Labrador Partners or
Farley Capital was borrowed.
ITEM 4. PURPOSE OF TRANSACTION.
The purpose of the acquisition of the Common Stock by Labrador
Partners and Farley Capital is for investment. Labrador Partners, Farley
Capital and Stephen L. Farley ("Farley") (each a "Reporting Person" and,
collectively the "Reporting Persons"), reserve the right to buy additional
securities of the Issuer or sell securities of the Issuer from time to time.
The Reporting Persons have no present plans or proposals which relate to, or
could result in, any of the actions enumerated in paragraphs (a) through (j)
of Item 4 of the instructions to Schedule 13D. Such entities and persons may,
at any time and from time to time, review or reconsider their position with
respect to the Issuer, and formulate plans or proposals with respect to any of
such matters, but have no present intention of doing so.
Page 5 of 9 Pages
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The following is the aggregate amount of Common Stock that is
beneficially owned by each Reporting Person:
Aggregate Number
of Shares of Percentage
Name Common Stock of Class
Labrador Partners 281,500 9.2%
Farley Capital 54,271 1.8%
Farley does not directly own any of the Common Stock. Pursuant to
Rule 13d-3 of the Securities Exchange Act of 1934, Farley may be deemed to be
an indirect beneficial owner of 335,771 shares of Common Stock by virtue of
his position as managing general partner of Labrador Partners (281,500 shares)
and Farley Capital (54,271 shares).
In the aggregate, the Reporting Persons beneficially own a total of
335,771 shares of Common Stock, constituting approximately 11.0% of the
outstanding shares of Common Stock of the Issuer.
The approximate aggregate percentage of shares of Common Stock
reported beneficially owned by each Reporting Person herein is based upon
3,045,711 shares outstanding, which is the total number of shares of Common
Stock outstanding as of September 30, 1997, as reflected in the Issuer's
quarterly report on Form 10-Q filed with the Commission for the quarter ended
September 30, 1997 (which is the most recent Form 10-Q on file).
(b) Each of Labrador Partners and Farley Capital have the power
to vote and dispose of the shares of Common Stock beneficially owned by them,
which power may be exercised by Farley.
(c) The trading dates, number of shares of Common Stock purchased
or sold and price per share for all transactions in the Common Stock by
Labrador Partners and Farley Capital from the 60th day prior to November 8,
1997 are set forth in Schedule A and Schedule B hereof. All such transactions
were open market transactions effected through the New York Stock Exchange.
(d) Except as set forth above, 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 Common Stock.
(e) Not applicable.
* * *
Page 6 of 9 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of
each of the Reporting Persons, each such person or entity certifies that the
information set forth in this statement is true, complete and correct and
agrees that this statement is filed on behalf of each of them.
Dated: November 18, 1997
By: /s/ Stephen L. Farley
--------------------------------------
Stephen L. Farley, individually and as
managing general partner of each of
Labrador Partners L.P. and Farley
Capital L.P.
Page 7 of 9 Pages
<PAGE>
Schedule A
----------
Labrador Partners L.P.
----------------------
Transactions in the Common
Stock of the Issuer
---------------------------
Date of No. of Shares
Transaction Purchased Price Per Share
----------- ---------------- ---------------
9/19/97 1,200 $27.1875
9/22/97 3,500 27.0000
9/22/97 23,575 16.0000
9/24/97 525 26.2500
10/10/97 1,000 25.8750
10/10/97 1,000 26.0000
10/10/97 17,500 26.6460
10/31/97 3,000 27.3750
11/03/97 2,100 27.6250
11/04/97 1,300 27.7500
11/05/97 1,700 27.8500
11/06/97 3,751 16.0000
11/06/97 100 28.0000
11/07/97 4,449 27.8830
11/12/97 700 28.2500
11/13/97 700 28.1250
11/14/97 1,600 28.1720
11/17/97 1,500 28.2080
Page 8 of 9 Pages
<page
Schedule B
----------
Farley Capital L.P.
-------------------
Transactions in the Common
Stock of the Issuer
---------------------------
Date of No. of Shares Price Per Share
Transaction Purchased (Excluding Commission)
----------- ---------------- -----------------------
9/22/97 3,561 $16.0000
9/24/97 1,038 26.0000
10/10/97 600 25.8750
10/13/97 1,000 26.5000
10/13/97 1,500 27.2500
10/13/97 500 27.0000
10/13/97 550 26.7500
10/13/97 500 26.2500
10/21/97 788 27.0000
10/21/97 513 27.1250
10/27/97 700 26.5000
10/29/97 1,000 26.5000
10/30/97 800 26.7500
10/31/97 1,400 27.5000
10/31/97 1,000 27.0000
11/03/97 513 27.6250
11/05/97 700 27.7500
11/05/97 561 16.0000
11/05/97 1,000 27.7500
11/10/97 513 28.0000
11/10/97 671 28.0000
11/11/97 933 28.2500
11/11/97 371 28.2500
11/11/97 559 28.2500
Page 9 of 9 Pages
<PAGE>
