PIERCE LEAHY CORP
SC 13G/A, 1999-02-16
PUBLIC WAREHOUSING & STORAGE
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<PAGE>
 
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


                                SCHEDULE 13G/A


           INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
           RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
                           PURSUANT TO RULE 13d-2(b)
                               (Amendment No. 1)


                               Pierce Leahy Corp.
                   ------------------------------------------
                                (Name of Issuer)

                                  Common Stock
                   -------------------------------------------
                         (Title of Class of Securities)

                                  720722 10 7
                             ----------------------
                                 (CUSIP Number)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

  ___ Rule 13d-1(b)
  ___ Rule 13d-1(c)
   X  Rule 13d-1(d)
  ---


The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose 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 5 pages
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.720722 10 7                     13G             PAGE 2 OF 5 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      J. Peter Pierce 
                                                                               
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 
- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4    United States of America                              

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5    
     NUMBER OF            16,500 
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6    
                          8,260,345   
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7    
    REPORTING             938,215      
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8    
                          435,290   
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9    
      8,276,845                       
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11    
      48.6% 
                                                                         

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      IN    

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTION BEFORE FILLING OUT!

                               Page 2 of 5 pages
<PAGE>
 
                                  SCHEDULE 13G


Item 1.

1(a).  Name of Issuer:  Pierce Leahy Corp.

1(b).  Address of Issuer's Principal Executive Offices:

          631 Park Avenue, King of Prussia, Pennsylvania 19406

Item 2.

2(a).  Name of Person Filing:  J. Peter Pierce

2(b).  Address of Principal Business Office:

          631 Park Avenue, King of Prussia, Pennsylvania 19406

2(c).  Citizenship:  U.S.

2(d).  Title of Class of Securities:  Common Stock, $.01 par value

2(e).  CUSIP Number:  720722 10 7

Item 3.

          Not Applicable.

Item 4.   Ownership

          As of December 31, 1998, J. Peter Pierce beneficially owned (as
calculated in accordance with Rule 13d-3) 8,276,845 of Common Stock,
representing 48.6% of the Common Stock then outstanding.  Of such amount,
8,260,345 shares are held in a Voting Trust pursuant to a Voting Trust Agreement
dated June 24, 1997 (as amended or restated from time to time, the "Voting
Trust") or pursuant to proxies issued in connection with the Voting Trust.  Leo
W. Pierce, Sr. and J. Peter Pierce are the Trustees of the Voting Trust and, as
such, each have shared power to vote the shares held in the Voting Trust or
subject to such proxies.  In the event that the two Trustees disagree as to how
to vote the shares held subject to the Voting Trust or subject to the proxies,
one-half of the shares subject to the Voting Trust and the proxies will be voted
at the direction of each Trustee.

          The beneficial owners of interests in the Voting Trust or the shares
subject to the proxies have the right to dispose of the shares to which they
have beneficial interests.  Mr.

                               Page 3 of 5 pages
<PAGE>
 
Pierce has a direct beneficial interest in the 741,668 shares of Common Stock
held in the Voting Trust and 16,500 shares owned directly by him which are not
subject to the Voting Trust, and, as such, has sole dispositive power with
respect to such shares.  He also has a beneficial interest in 180,047 shares of
Common Stock as custodian for the benefit of his child.  Accordingly, Mr. Pierce
has sole power to dispose of an aggregate of 938,215 shares of Common Stock he
beneficially owns directly or as custodian for his child.  In addition, Mr.
Pierce beneficially owns 435,290 shares of Common Stock as co-trustee of a
trust.  As co-trustee of this trust, Mr. Pierce has shared dispositive power
with regards to such shares.

Item 5.   Ownership of Five Percent or Less of a Class

          Not Applicable.

Item 6.   Ownership of More than Five Percent on Behalf of Another Person

          Except with respect to the 921,715 shares of Common Stock held in the
Voting Trust with respect to which Mr. Pierce has a direct beneficial interest,
all of the other shares of Common Stock held in the Voting Trust are
beneficially owned by other members of the Pierce family or trusts for the
benefit of members of the Pierce family.  As such, the various beneficial owners
of interests in the Voting Trust have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
shares of Common Stock.  Of the shares held in the Voting Trust, the following
individuals have the right to receive or direct the receipt of dividends from or
the proceeds from the sale of the number of securities indicated:  Leo W.
Pierce, Jr. -- 1,171,251 shares; Michael J. Pierce -- 1,118,708 shares; Mary E.
Pierce -- 1,391,953 shares; Barbara P. Quinn -- 1,066,858 shares; and Constance
P. Buckley --1,096,167 shares.
 
Item 7.   Identification and Classification of the Subsidiary Which Acquired the
          Security Being Reported on By the Parent Holding Company

          Not applicable.

Item 8.   Identification and Classification of Members of the Group

          Not Applicable.

Item 9.   Notice of Dissolution of Group

          Not Applicable.

Item 10.  Certification

          Not Applicable

                               Page 4 of 5 pages
<PAGE>
 
                                   SIGNATURE


          After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

                                        
                                      February 10, 1999
                                      -----------------  
                                              Date
                                        
                                        /s/ J. Peter Pierce
                                        -------------------  
                                              Signature


                                           J. Peter Pierce
                                       ------------------------
                                              Name/Title

                                Page of 5 pages


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