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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
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Westmoreland Coal Company
(Name of Issuer)
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Common Stock, par value $2.50 per share
(Title of Class of Securities)
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960878 10 6
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing 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.)
* 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).
Page 1 of 5 Pages
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CUSIP NO. 960878 10 6 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON - RIVERSIDE CAPITAL ADVISERS, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - 59-24-17036
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
FLORIDA
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NUMBER OF 5 SOLE VOTING POWER
SHARES BENEFI- 1,094,828 (1)
CIALLY OWNED BY
EACH REPORTING
PERSON WITH
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6 SHARED VOTING POWER
0
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7 SOLE DISPOSITIVE POWER
1,094,828 (1)
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8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,094,828(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
13.58% (2)
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Represents shares of Common Stock issuable upon conversion of 641,000
Depositary Shares at a conversion ratio of x1.7080.
(2) Based on 6,965,328 shares of Common Stock outstanding as of February
26, 1997.
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Page 3 of 5 Pages
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 3 TO
SCHEDULE 13G
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
ITEM 1(a) NAME OF ISSUER:
The name of the issuer is Westmoreland Coal Company (the
"COMPANY")
ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
The address of the issuer's principal executive offices
is 200 South Broad Street, Philadelphia, PA 19102
ITEM 2(a) NAME OF PERSON FILING:
The name of the person filing this Statement is Riverside
Capital Advisers, Inc.
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The address of the principal business office of the
person filing this Statement is:
1650 S.E. 17th Street Causeway, Suite 204
Fort Lauderdale, Florida 33316-1735
ITEM 2(c) CITIZENSHIP:
Riverside Capital Advisers, Inc. ("RIVERSIDE") is a
Florida corporation.
ITEM 2(d) TITLE OF CLASS OF SECURITIES:
The title of the class of securities for which this
Statement is being filed is Common Stock, $2.50 par value
ITEM 2(e) CUSIP NUMBER:
The CUSIP number of the class of securities for which
this Statement is being filed is 960878 10 6
ITEM 3 TYPE OF PERSON:
(e) The person filing this Statement is an Investment
Adviser registered under the Investment Advisers Act of
1940.
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Page 4 of 5 Pages
ITEM 4 OWNERSHIP.
(a) Amount Beneficially Owned: At December 31, 1996,
Riverside beneficially owned 1,094,828 shares of the
Common Stock of the Company ("COMMON SHARES") as a result
of its having full discretionary investment authority
over thirteen (13) customer accounts to which it provides
investment advisory services. Such accounts own, in the
aggregate, 641,000 Depositary Shares of the Company
("DEPOSITARY SHARES"), each of which represents one
quarter of a share of the Company's Series A Convertible
Exchangeable Preferred Stock and is convertible into
Common Shares at the conversion ratio of 1.7080 Common
Shares for each Depositary Share.
(b) Percent of Class: 13.58% (assuming the conversion
into Common Shares of all
Depositary Shares beneficially owned by Riverside)
(c) Number of shares as to which Riverside has:
(i) Sole power to vote or direct the vote:
1,094,828 Common Shares;
(ii) Shared power to vote or direct the vote: -0-
Common Shares;
(iii) Sole power to dispose or to direct the
disposition of: 1,094,828 Common Shares;
(iv) Shared power to dispose or to direct the
disposition of: -0- Common 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:
Riverside beneficially owns the Common Shares reported on
as a result of its having full discretionary voting
authority over certain customer accounts to which
Riverside provides investment advisory services. The
following customer's account contains Depositary Shares
convertible into more than five percent of the
outstanding Common Shares: Hoechst Celanese Corp.
Employee Benefit Master Trust (446,250 Depositary Shares
convertible into 762,195 Common 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.
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Page 5 of 5 Pages
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: April 10, 1997
RIVERSIDE CAPITAL ADVISORS, INC.
By: s/Michael Bowen
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Michael Bowen, Vice President
