SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 22, 1997
Commission file number 0-6237
THE ZIEGLER COMPANIES, INC.
(Exact name of registrant as specified in its charter)
Wisconsin 39-1148883
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
215 North Main Street, West Bend, Wisconsin 53095
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (414) 334-5521
<PAGE>
Item 5.Other Events.
The Registrant issued the following press release today at
approximately 3:00 PM CDT:
WEST BEND, WIS. - The Ziegler Companies, Inc. (AMEX: ZCO), a
financial services holding company, said that it filed suit in federal
court today against First Fidelity Acceptance Corp., of Plano, Texas, and
one of its affiliates; Ziegler also announced it expects to take a write-
off in the third quarter related to its business dealings with those
companies.
Commenting on the First Fidelity transactions, Peter D. Ziegler,
president and CEO of The Ziegler Companies, Inc., said, "We are taking the
charge in the third quarter because of the uncertainty of collection of
First Fidelity obligations. These obligations to Ziegler include amounts
receivable on a portfolio of automobile loans which Ziegler purchased from
First Fidelity and a separate loan to a First Fidelity subsidiary. The
after-tax effect of this loss is expected to be $1,350,000. We are
continuing our attempts to collect on these obligations by asserting our
claims in federal court."
As a result of this write-off, The Ziegler Companies, Inc., expects
to report a loss for its third quarter ending September 30, 1997. Mr.
Ziegler noted that the company's operations in the third quarter, absent
the First Fidelity loss, continued to be satisfactory and profitable.
The board of directors of The Ziegler Companies, Inc. has declared a
regular quarterly dividend of 13 cents per share on the company's common
stock. The dividends will be payable on October 17, 1997, to shareholders
of record on October 3, 1997.
The Ziegler Companies, Inc. is a financial services holding company
headquartered in West Bend, Wis. It owns eight subsidiary companies.
Ziegler stock is traded on the American Stock Exchange under the symbol
ZCO.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
THE ZIEGLER COMPANIES, INC.
Registrant
By: /s/ S. Charles O'Meara
S. Charles O'Meara
Senior Vice President and
General Counsel
Dated: September 22, 1997
