UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO
RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )*
VALLEY RESOURCES INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
920062 10 6
(CUSIP Number)
*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 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).
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SCHEDULE 13G
CUSIP NO. 920062 10 6 PAGE 2 OF 4 PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
NYL Trust Company EIN # 13-3808042
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK, NEW YORK
NUMBER OF 5. SOLE VOTING POWER 821,379
SHARES
BENEFICIALLY 6. SHARED VOTING POWER 0
OWNED BY
EACH 7. SOLE DISPOSITIVE POWER 821,379
REPORTING
PERSON 8. SHARED DISPOSITIVE POWER 0
WITH
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 821,379
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 20.5%
12. TYPE OF REPORTING PERSON*
BK
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
United States Securities and Exchange Commission
Washington, D.C. 20549
Schedule 13G
Under The Securities Exchange Act of 1934
CUSIP NO. 920062 10 6 PAGE 3 OF 4 PAGES
Item 1(a) Name of Issuer: Valley Resources Inc.
Item 1(b) Address of issuer's principal executive offices:
1595 Mendon Road
PO Box 7900
Cumberland, RI 02864
Item 2(a) Name of person filing: NYL Trust Company
Item 2(b) Address of principal business office:
51 Madison Avenue, Room 117A
New York, NY 10010
Item 2(c) Citizenship: See item 4 of Cover Page
Item 2(d) Title of class of securities: See Cover Page
Item 2(e) CUSIP No.: See Cover Page
Item 3(b) Type of Person: See item 12 of Cover Page
Item 4(a) Amount beneficially owned: NYL Trust Company, in its capacity
as trustee of the Valley Resources 401(k) Employee Stock
Ownership Plan, may be deemed the beneficial owner of 821,379
shares of common stock of the issuer which are owned by the Plan
on behalf of numerous participants.
Item 4(b) Percentage of class: 20.5%
Item 4(c) For information regarding voting and dispositive power with
respect to the above listed shares see items 5-8 of Cover Page.
Item 5 Ownership of 5 percent or less of a class: Not Applicable
Item 6 Ownership of more than 5 percent on behalf of another person:
Shares as to which this schedule is filed are owned by
Valley Resources Inc. 401(k) Employee Stock Ownership Plan on behalf
of numerous participants, which participants receive dividends and
the proceeds from the sale of such shares. No such participant is
known to have such an interest with respect to more than 5% of the
class except as follows: None
Item 7 Identification and classification of the subsidiary which acquired
the security being reported on by the parent holding company:
Not Applicable
<PAGE>
CUSIP NO. 920062 10 6 PAGE 4 of 4 PAGES
Item 8 Identification and classification of members of the group:
Not Applicable
Item 9 Notice of dissolution of group: Not Applicable
Item 10 Certification: By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not acquired
for the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any
transaction having such purpose or effect.
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.
Dated: FEBRUARY 7, 1997
/S/ WILLIAM V. ZALESKI
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Name/Title WILLIAM V. ZALESKI, PRESIDENT
NYL TRUST COMPANY
