SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities and Exchange Act of 1934
(Amendment No. 6)*
Salomon Inc
(Name of Issuer)
Common Stock (upon conversion of Preferred Stock)
(Title of Class of Securities)
0007954981
(CUSIP Number)
Warren E. Buffett
Berkshire Hathaway Inc.
1440 Kiewit Plaza, Omaha, Nebraska 68131
(402) 346-1400
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 19, 1995
(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(b)(3) or (4), check the
following box [ ].
Check the following box if a fee is being paid with the statement [ ]. (A
fee is not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
*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 disclosures provided in a prior cover page.
The information required on 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).
(Continued on following page(s))
Page 1 of 15 Pages
<PAGE>
CUSIP No. 0007954981 13D Page 2 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
Warren E. Buffett, ###-##-####
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
AF
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
United States citizen
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
560,000 shares Preferred Stock (See Item 5)
6,633,600 shares Common Stock (See Item 5)
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
560,000 shares Preferred Stock (See Item 5)
6,633,600 shares Common Stock (See Item 5)
11 Aggregate amount beneficially owned by each Reporting Person:
560,000 shares Preferred Stock
6,633,600 shares Common Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
17.6%
14 Type of Reporting Person*:
IN
<PAGE>
CUSIP No. 0007954981 13D Page 3 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
Berkshire Hathaway Inc., 04-2254452
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
AF, BK
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Delaware corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
560,000 shares Preferred Stock (See Item 5)
6,633,600 shares Common Stock (See Item 5)
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
560,000 shares Preferred Stock (See Item 5)
6,633,600 shares Common Stock (See Item 5)
11 Aggregate amount beneficially owned by each Reporting Person:
560,000 shares Preferred Stock
6,633,600 shares Common Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
17.6%
14 Type of Reporting Person*:
HC, CO
<PAGE>
CUSIP No. 0007954981 13D Page 4 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
National Indemnity Company, 47-0355979
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Nebraska corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
320,800 shares Preferred Stock
6,633,600 shares Common Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
320,800 shares Preferred Stock
6,633,600 shares Common Stock
11 Aggregate amount beneficially owned by each Reporting Person:
320,800 shares Preferred Stock
6,633,600 shares Common Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
12.4%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 5 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
National Fire and Marine Insurance Company,
47-6021331
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Nebraska corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
48,000 shares Preferred Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
48,000 shares Preferred Stock
11 Aggregate amount beneficially owned by each Reporting Person:
48,000 shares Preferred Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
1.0%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 6 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
Columbia Insurance Company, 47-0530077
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Nebraska corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
80,000 shares Preferred Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
80,000 shares Preferred Stock
11 Aggregate amount beneficially owned by each Reporting Person:
80,000 shares Preferred Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
1.7%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 7 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
Cypress Insurance Company, 95-6042829
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
California corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
8,000 shares Preferred Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
8,000 shares Preferred Stock
11 Aggregate amount beneficially owned by each Reporting Person:
8,000 shares Preferred Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
0.2%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 8 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
Oak River Insurance Company, 47-0762702
(successor to Kansas Fire & Casualty Company)
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Nebraska corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
5,600 shares Preferred Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
5,600 shares Preferred Stock
11 Aggregate amount beneficially owned by each Reporting Person:
5,600 shares Preferred Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
0.1%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 9 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
Cornhusker Casualty Company, 47-0529995
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Nebraska corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
7,200 shares Preferred Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
7,200 shares Preferred Stock
11 Aggregate amount beneficially owned by each Reporting Person:
7,200 shares Preferred Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
0.2%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 10 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
National Liability & Fire Insurance Company,
36-2403971
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Illinois corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
10,400 shares Preferred Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
10,400 shares Preferred Stock
11 Aggregate amount beneficially owned by each Reporting Person:
10,400 shares Preferred Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
0.2%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 11 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
Wesco Financial Corporation, 95-2109453
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Delaware corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
40,000 shares Preferred Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
40,000 shares Preferred Stock
11 Aggregate amount beneficially owned by each Reporting Person:
40,000 shares Preferred Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
0.9%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 12 of 15 Pages
1 Name of Reporting Person:
S.S. or I.R.S. Identification No. of above person:
Wesco-Financial Insurance Company, 47-0685686
2 Check the appropriate box if a member of a Group*:
(a) [X]
(b) [ ]
_________________________________________________________________
3 SEC USE ONLY
_________________________________________________________________
4 Source of Funds:
WC
5 Check box if disclosure of legal proceedings
is required pursuant to items 2(d) or (e) [ ]
6 Citizen or place of organization:
Nebraska corporation
7 Number of shares beneficially owned by each Reporting Person with
Sole Voting Power:
-0-
8 Number of shares beneficially owned by each Reporting Person with
Shared Voting Power:
40,000 shares Preferred Stock
9 Number of shares beneficially owned by each Reporting Person with
Sole Dispositive Power:
-0-
10 Number of shares beneficially owned by each Reporting Person with
Shared Dispositive Power:
40,000 shares Preferred Stock
11 Aggregate amount beneficially owned by each Reporting Person:
40,000 shares Preferred Stock
12 Check Box if the aggregate amount in
row (11) excludes certain shares [ ]
13 Percent of class represented by amount in row (11):
0.9%
14 Type of Reporting Person*:
IC
<PAGE>
CUSIP No. 0007954981 13D Page 13 of 15 Pages
The following items of Schedule 13D filed by Berkshire Hathaway
Inc. ("Berkshire") and the other persons filing this Schedule 13D with
respect to the Series A Cumulative Convertible Preferred Stock ("Preferred
Stock") and Common Stock, $1.00 par value ("Common Stock") of Salomon Inc
("Salomon") are amended as follows:
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is amended by adding thereto the following:
As required by the Certificate of Designation with respect to the
Preferred Stock, Salomon has called 140,000 shares of the Preferred Stock
for mandatory redemption on October 31, 1995. Berkshire has advised
Salomon that its subsidiaries holding shares of the Preferred Stock called
for redemption will not exercise the option of converting such shares into
shares of Common Stock prior to the mandatory redemption date. As a
result, Salomon will redeem 140,000 shares of Preferred Stock owned by
such subsidiaries for $1,000 per share in cash on October 31, 1995, and
the percentage of the voting stock of Salomon held by such subsidiaries
and the other persons filing this Schedule 13D will be as set forth in
Item 5.
All other information responsive to Item 4 remains as previously
reported, except as amended hereby.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is amended to read as follows:
a. The following table sets forth the aggregate number of
shares of Preferred Stock, the number of shares of Common Stock, and the
percentage of the voting stock of Salomon beneficially owned by each of
the persons named in Item 2 directly owning such stock, and by Warren E.
Buffett and Berkshire:
<PAGE>
CUSIP No. 0007954981 13D Page 14 of 15 Pages
PREFERRED PERCENT OF
NAME SHARES COMMON SHARES VOTING SHARES
Warren E. Buffett 560,000* 6,633,600* 17.6%
Berkshire Hathaway Inc. 560,000* 6,633,600* 17.6%
National Indemnity Co. 320,800 6,633,600 12.4%
National Fire and Marine
Insurance Co. 48,000 - 1.0%
Columbia Insurance Co. 80,000 - 1.7%
Cypress Insurance Co. 8,000 - 0.2%
Oak River Insurance Co.** 5,600 - 0.1%
Cornhusker Casualty Co. 7,200 - 0.2%
National Liability &
Fire Insurance Co. 10,400 - 0.2%
Wesco Financial Corp. 40,000 - 0.9%
Wesco-Financial Insurance 40,000 - 0.9%
Co. _______ _________ ____
TOTAL 560,000 6,633,600 17.6%
*Warren E. Buffett may be deemed to control Berkshire, which controls each
of the companies with record ownership of the stock. Both Mr. Buffett and
Berkshire thus may be considered to have beneficial ownership of the
entire amount of Preferred and Common Stock owned by all of the persons
filing this Schedule.
**Successor to Kansas Fire & Casualty Company.
b. Each of the companies named in Item 5(a) has both voting and
investment power with respect to the shares indicated for it. However,
Warren E. Buffett, Chairman of the Board of Berkshire, who may be deemed
to control the companies named in Item 5(a), directs the investments and
voting of each company. Thus, Mr. Buffett and Berkshire share voting
power and investment power with respect to the shares of Salomon owned by
each of the companies named in Item 5(a).
c. None of the persons named in paragraph (a) of this Item has
effected any transactions during the past sixty (60) days in shares of the
Preferred Stock or Common Stock.
As required by the Certificate of Designation with respect
to the Preferred Stock, Salomon has called 140,000 shares of the Preferred
Stock for mandatory redemption on October 31, 1995. Berkshire has advised
Salomon that its subsidiaries holding shares of the Preferred Stock called
for redemption will not exercise the option of converting such shares into
shares of Common Stock prior to the mandatory redemption date. As a
result, Salomon will redeem 140,000 shares of Preferred Stock owned by
such subsidiaries for $1,000 per share in cash on October 31, 1995, and
the percentage of the voting stock of Salomon held by such subsidiaries
and the other persons filing this Schedule 13D will be as set forth above
in this Item 5.
d. Not applicable.
e. Not applicable.
<PAGE>
CUSIP No. 0007954981 13D Page 15 of 15 Pages
After reasonable inquiry and to the best knowledge and belief of
each, the undersigned hereby certify that the information set forth in
this statement is true, complete, and correct.
Dated this 20th day of October, 1995.
/S/WARREN E. BUFFETT
Warren E. Buffett
BERKSHIRE HATHAWAY INC. NATIONAL INDEMNITY COMPANY
By/S/WARREN E. BUFFETT BY/S/ WARREN E. BUFFETT
Warren E. Buffett Warren E. Buffett
Chairman of the Board Chairman of the Board
NATIONAL FIRE AND MARINE COLUMBIA INSURANCE COMPANY
INSURANCE COMPANY
By/S/WARREN E. BUFFETT BY/S/ WARREN E. BUFFETT
Warren E. Buffett Warren E. Buffett
Chairman of the Board Chairman of the Board
CYPRESS INSURANCE COMPANY, CORNHUSKER CASUALTY COMPANY, OAK RIVER
INSURANCE COMPANY, NATIONAL LIABILITY & FIRE INSURANCE COMPANY, WESCO-
FINANCIAL INSURANCE COMPANY, and WESCO FINANCIAL CORPORATION.
By/S/ WARREN E. BUFFETT
Warren E. Buffett
Attorney-in-Fact
[L227776.2]
