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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
Westmoreland Coal Company
(Name of Issuer)
Depository Shares, each representing one quarter of a share
of Series A Convertible Exchangeable Preferred Stock
(Title of Class of Securities)
960878 30 4
(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
- -------------------------------- -------------------------
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
FLORIDA
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES BENEFI- 641,000
CIALLY OWNED BY
EACH REPORTING
PERSON WITH
--------------------------------------------------------
6 SHARED VOTING POWER
0
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7 SOLE DISPOSITIVE POWER
641,000
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8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
641,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
27.87% (1)
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Based on 2,300,000 Depository Shares outstanding as of February 26, 1997.
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Page 3 of 5 Pages
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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 Depository Shares
ITEM 2(e) CUSIP NUMBER:
The CUSIP number of the class of securities for which this
Statement is being filed is 960878 30 4
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
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ITEM 4 OWNERSHIP.
(a) Amount Beneficially Owned: At December 31, 1996, Riverside
beneficially owned 641,000 Depository Shares of the Company
("DEPOSITORY 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 Depository Shares, each of which represents one
quarter of a share of the Company's Series A Convertible Exchangeable
Preferred Stock and is convertible into shares of the Common Stock of
the Company at the conversion ratio of 1.7080 Shares of Common Stock
for each Depository Share.
(b) Percent of Class: 27.87%
(c) Number of shares as to which Riverside has:
(i) Sole power to vote or direct the vote: 641,000 Depository
Shares;
(ii) Shared power to vote or direct the vote: -0- Depository
Shares;
(iii) Sole power to dispose or to direct the disposition of:
641,000 Depository Shares;
(iv) Shared power to dispose or to direct the disposition of: -0-
Depository 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 Depository 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 Depository Shares
representing more than five percent of the outstanding Depository
Shares: Hoechst Celanese Corp. Employee Benefit Master Trust (446,250
Depository 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
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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
