AMENDMENT NO. 1 TO SCHEDULE 13D
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
(Amendment No. 1)
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)
August 19, 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
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
196,300
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
196,300
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
196,300
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
7.3%
- ------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 9 Pages
<PAGE>
13D
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
28,500
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
28,500
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
28,500
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.1%
- ------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 9 Pages
<PAGE>
13D
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
224,800
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
224,800
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
224,800
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.3%
- ------------------------------------------------------------------------------
(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. 1 amends the statement on Schedule 13D (the
"Statement") which was filed on July 8, 1997 and 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 have the meanings set forth in the Statement.
Except as specifically provided herein, this Amendment 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 196,300 $ 3,887,701.14
Farley Capital 28,500 $ 612,505.55
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 each discretionary account 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") (the "Reporting Persons", and
individually, each a "Reporting Person") 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 196,300 7.3%
Farley Capital 28,500 1.1%
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 an
indirect beneficial owner of 224,800 shares of Common Stock by virtue of his
position as managing general partner of Labrador Partners (196,300 shares) and
Farley Capital (28,500 shares).
In the aggregate, the Reporting Persons beneficially own a total of
224,800 shares of Common Stock, constituting approximately 8.3% 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
2,701,682 shares outstanding, which is the total number of shares of Common
Stock outstanding as of June 30, 1997, as reflected in the Issuer's quarterly
report on Form 10-Q filed with the Commission for the quarter ended June 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 August 22,
1997 and from June 23, 1997 through August 20, 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: August 22, 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 (Sold) Price Per Share
----------- ---------------- ---------------
6/23/97 11,500 $20.5000
6/24/97 8,000 21.0469
6/25/97 7,500 21.0000
6/26/97 2,500 20.5750
6/30/97 5,500 22.1136
6/30/97 2,500 21.5750
7/1/97 800 21.7500
7/1/97 2,000 22.0000
7/3/97 8,000 22.0234
7/7/97 32,700 22.2900
7/8/97 1,500 23.6250
7/10/97 1,000 23.6250
7/10/97 1,500 23.5000
7/11/97 2,500 23.7500
7/14/97 1,000 23.6250
7/14/97 2,500 23.7500
7/15/97 1,100 23.7500
7/16/97 500 23.7500
7/16/97 600 23.8125
7/24/97 1,800 24.3646
7/28/97 800 24.4375
7/29/97 1,000 24.8750
7/30/97 500 24.9375
7/31/97 500 24.9375
8/1/97 2,000 24.8125
8/6/97 300 25.0000
8/6/97 200 24.8125
8/8/97 1,500 25.0000
8/11/97 1,000 24.5313
8/12/97 800 24.5625
8/19/97 3,700 22.7060
8/20/97 4,000 22.9800
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)
----------- ---------------- -----------------------
6/23/97 4,000 $20.4375
6/23/97 500 20.5000
6/23/97 1,500 20.8750
6/23/97 1,000 20.0000
6/23/97 1,000 19.9375
6/23/97 500 20.0000
6/30/97 8,000 20.9062
6/30/97 2,000 21.1250
6/30/97 1,000 21.0000
6/30/97 1,000 20.8750
6/30/97 1,000 21.0000
7/8/97 400 23.2500
7/8/97 2,300 23.5760
7/8/97 500 23.625
7/17/97 600 24.00
7/18/97 200 24.00
7/23/97 1,400 24.0535
7/23/97 600 24.125
7/23/97 400 24.125
7/24/97 500 24.25
7/25/97 100 24.1875
Page 9 of 9 Pages
<PAGE>
