SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 2)*
Westmoreland Coal Company
(Name of Issuer)
Common Stock
(Title of Class of Securities)
960878106
(CUSIP Number)
Jeffrey L. Gendell
200 Park Avenue, Suite 3900, New York, New York 10166 (212) 692-3695
(Name, address and telephone number of person
authorized to receive notices and communications)
September 21, 2000
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the
following box [ ].
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 12 Pages)
________________
*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).
CUSIP No. 960878106 13D Page 2 of 12 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Jeffrey L. Gendell
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
PF
____________________________________________________________
(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
549,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
650,000
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
549,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
650,000
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
650,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
9.19%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 960878106 13D Page 3 of 12 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(5) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (6) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (7) SHARED VOTING POWER
66,700
OWNED BY ___________________________________________________________
EACH (8) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (9) SHARED DISPOSITIVE POWER
66,700
_____________________________________________________________________________
(10) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
66,700
_____________________________________________________________________________
(11) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(12) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.94%
_____________________________________________________________________________
(13) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 960878106 13D Page 4 of 12 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Management, LLC
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(5) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (6) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (7) SHARED VOTING POWER
66,700
OWNED BY ___________________________________________________________
EACH (8) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (9) SHARED DISPOSITIVE POWER
66,700
_____________________________________________________________________________
(10) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
66,700
_____________________________________________________________________________
(11) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(12) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.94%
_____________________________________________________________________________
(13) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 960878106 13D Page 5 of 12 Pages
____________________________________________________________________________
(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Overseas Associates, LLC
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(5) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (6) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (7) SHARED VOTING POWER
34,300
OWNED BY ___________________________________________________________
EACH (8) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (9) SHARED DISPOSITIVE POWER
34,300
_____________________________________________________________________________
(10) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
34,300
_____________________________________________________________________________
(11) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(12) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.49%
_____________________________________________________________________________
(13) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 960878106 13D Page 6 of 12 Pages
Item 1. Security and Issuer.
The Schedule 13D filed on March 26, 1999 by Jeffrey L. Gendell, as amended
by Amendment No. 1 filed on July 12, 2000(the "Schedule 13D") relating to the
common stock, $2.50 par value (the "Common Stock") of Westmoreland Coal Company
(the "Company")is hereby amended further by this Amendment No. 2 to the
Schedule 13D. The Company's principal executive offices are located at 14th
Floor, 2 North Cascade Avenue, Colorado Springs, Colorado 80903.
Item 2. Identity and Background
The principal business address for the following reporting persons is 200
Park Avenue, Suite 3900, New York, New York 10166:
(i) Jeffrey L. Gendell is a citizen of the United States.
(ii) Tontine Partners, L.P. is a limited partnership organized under the
laws of the State of Delaware.
(iii) Tontine Management, L.L.C. is a limited liability company organized
under the laws of the State of Delaware.
(iv) Tontine Overseas Associates, LLC is a limited liability company
organized under the laws of the State of Delaware.
Item 3. Source and Amount of Funds and Other Consideration.
The net investment cost (including commissions, if any) of the shares of
Common Stock directly owned by Mr. Gendell is approximately $2,061,499. The
shares of Common Stock owned directly by Mr. Gendell were purchased with
personal funds and on margin. Mr. Gendell's margin transactions are with ING
Baring Furman Selz, LLC, on such firm's usual terms and conditions. All or
part of the shares of Common Stock directly owned by Mr. Gendell may from time
to time be pledged with one or more banking institutions or brokerage firms as
collateral for loans made by such bank(s) or brokerage firm(s) to Mr. Gendell.
Such loans bear interest at a rate based upon the broker's call rate from time
to time in effect. Such indebtedness may be refinanced with other banks or
broker-dealers.
The net investment cost (including commissions, if any) of the shares of
Common Stock directly owned by Tontine Partners, L.P. and which are also
attributable to Tontine Management, LLC, is approximately $324,209.
The net investment cost (including commissions, if any) of the shares of
Common Stock owned directly by Tontine Overseas Fund but are attributable to
Tontine Overseas Associates, LLC is approximately $166,139.
*************************
Item 5. Interest in Securities of the Issuer.
A. Jeffrey L. Gendell.
(a) Aggregate number of shares beneficially owned: 650,000
Percentage: 9.19% The percentages used herein and in
the rest of Item 5 are calculated based upon the 7,069,663 shares of Common
Stock issued and outstanding as of August 1, 2000 as reflected in the
Company's Form 10-Q for the quarterly period ending June 30, 2000. Mr.
Gendell's aforementioned beneficial ownership includes 15,000 shares of Common
CUSIP No. 960878106 13D Page 7 of 12 Pages
Stock which were purchased via a self-directed Individual Retirement Account.
Also included in the shares mentioned above are 66,700 shares of Common Stock
directly owned by Tontine Partners, L.P. (attributable to Tontine Management,
LLC) and 34,300 shares of Common Stock directly owned by Tontine Overseas Fund
Ltd. (attributable to Tontine Overseas Associates, LLC). Mr. Gendell has the
power to vote and dispose of the shares of Common Stock owned by both Tontine
Partners, L.P. and Tontine Overseas Fund Ltd and, accordingly, may be deemed
the "beneficial owner" of such shares.
(b) 1. Sole power to vote or direct vote: 549,000
2. Shared power to vote or direct vote: 650,000
3. Sole power to dispose or direct the disposition: 549,000
4. Shared power to dispose or direct the disposition: 650,000
(c) The trading dates, number of shares of Common Stock purchased
or sold and the price per share for all transactions, which were all on the
open market, in the Common Stock since the filing of Amendment No. 1 to the
Schedule 13D on July 12, 2000, are set forth in Schedule A and are incorporated
by reference.
(d) Not Applicable
(e) Not Applicable.
B. Tontine Partners, L.P.
(a) Aggregate number of shares beneficially owned: 66,700
Percentage: .94%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 66,700
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 66,700
(c) The trading dates, number of shares of Common Stock purchased
or sold and the price per share for all transactions, which were all on the
open market, in the Common Stock since the filing of Amendment No. 1 to the
Schedule 13D on July 12, 2000, are set forth in Schedule B and are incorporated
by reference.
(d) Not Applicable
(e) Not Applicable.
C. Tontine Management, LLC
(a) Aggregate number of shares beneficially owned (but directly
owned by Tontine Partners, L.P.): 66,700
Percentage: .94%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 66,700
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 66,700
(c) See Schedule B.
(d) Not Applicable
(e) Not Applicable.
B. Tontine Overseas Associates, LLC
(a) Aggregate number of shares beneficially owned (but directly
owned by Tontine Overseas Fund, Ltd.): 34,300
Percentage: .49%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 34,300
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 34,300
(c) The trading dates, number of shares of Common Stock purchased
or sold and the price per share for all transactions, which were all on the
open market, in the Common Stock since the filing of Amendment No. 1 to the
Schedule 13D on July 12, 2000, are set forth in Schedule C and are incorporated
CUSIP No. 960878106 13D Page 8 of 12 Pages
by reference.
(d) Not Applicable
(e) Not Applicable.
(Remainder of page intentionally left blank)
CUSIP No. 960878106 13D Page 9 of 12 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is
true, complete and correct.
DATED: September 26, 2000
/s/ JEFFREY L. GENDELL
Jeffrey L. Gendell,
individually and for Tontine Partners,
L.P., Tontine Overseas Fund Ltd, Tontine
Management, L.L.C. and Tontine Overseas
Associates, LLC.
CUSIP No. 960878106 13D Page 10 of 12 Pages
Schedule A
JEFFREY L. GENDELL
Price Per Share
Date of Number of Shares (including commissions,
Transaction Purchased/(Sold) if any)
7/13/00 6,000 $3.17
7/18/00 20,000 $3.29
8/24/00 10,000 $3.47
CUSIP No. 960878106 13D Page 11 of 12 Pages
Schedule B
TONTINE PARTNERS, L.P.*
Price Per Share
Date of Number of Shares (including commissions,
Transaction Purchased/(Sold) if any)
9/18/00 23,100 $4.93
9/21/00 12,000 $4.69
9/22/00 9,600 $4.79
9/25/00 10,000 $4.91
9/26/00 12,000 $4.91
*These shares are also attributable to Tontine Management, L.L.C.
CUSIP No. 960878106 13D Page 12 of 12 Pages
Schedule C
TONTINE OVERSEAS ASSOCIATES, L.L.C**
Price Per Share
Date of Number of Shares (including commissions,
Transaction Purchased/(Sold) if any)
9/18/00 11,900 $4.93
9/21/00 8,000 $4.69
9/22/00 6,400 $4.79
9/26/00 8,000 $4.91
** These shares are directly owned by Tontine Overseas Fund, Ltd.
2021318.1