WAINOCO OIL CORP
SC 13G/A, 1995-01-25
CRUDE PETROLEUM & NATURAL GAS
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                               UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D. C. 20549

                               SCHEDULE 13-G

                 Under the Securities Exchange Act of 1934

                           (Amendment No.   1  )

                             Wainoco Oil Company  
                             (Name of Issuer)

             Common Stock and 7 3/4% Convertible Bond due 2014 
                        (Title of Class of Securities)

                   930676-10-1   and     93067A-D-3  
                            (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
reporting the 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 and
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).
                                     









SEC 1745 (2/92)

Page 2

          Name of reporting person: Ryback Management Corporation
          I.R.S.  Identification  No. of  Above Entity: 43-1615580


          Check Appropriate Box  if  a member of a group*


3.       SEC use only

4.       Citizenship or Place of Organization

            Michigan      

Number of     5.            Sole Voting Power
Shares                         2,330,000 common shares
                               354,286 shares resulting from conversion
Beneficially                           of 7 3/4% bond   
                       
              6.            Shared Voting Power            
                                 
Owned by                     

Each          7.            Sole Dispositive Power
                             2,330,000 common shares
Reporting                    354,286 shares resulting from conversion of
                                    7 3/4% bond

Person With   8.            Shared Dispositive Power
                                                      
                                      
9.   Aggregate Amount Beneficially owned by each reporting person:

             2,330,000 shares held by Lindner Fund, Inc.
               354,286 shares resulting from the conversion of 
                     3100M bonds due 7 3/4% managed by Ryback Management Corp.

10.  Check Box if the Aggregate amount in Row (9) excludes certain  shares

11.  Percent of  Class Represented by Amount in Row  (9)

            8.26% fully diluted basis

12.  Type of Reporting Person
 
     IA - Ryback Management Corporation       IV - Lindner Fund, Inc.


sec 1745 (6-80)   
                           SEE INSTRUCTION BEFORE FILLING OUT!
Page 3
                                 SEC 13G 3
                    SECURITIES AND EXCHANGE COMMISSION 
                    SCHEDULE 13g Amendment No. 1
Item 1(a)   Name of Issuer:

            Wainoco Oil Company
            
Item 1(b)   Address of Issuer's Principal Executive Offices:

           1200 Smith Street, Suite 1500
          Houston, TX 77002-4367
           
Item 2(a)   Name of Person Filing:

            Ryback Management Corporation

Item 2(b)   Address of Principal Business Office:

            7711 Carondelet Ave., Box 16900, St. Louis, MO 63105
  
Item 2(c)   Citizenship:

            Michigan

Items 2(d)  Title and Class of Securities:

            Common Stock and 7 3/4% convertible bond due 2014

Item 2(e)   CUSIP:

            930676-10-1 and 930676A-D-3

Item 3)     This statement is filed pursuant to Rule 13d-1(b) or, 13d-2(b),
            the filing entity is a:

  [X] Investment Company registered under Section 8 of the Investment Company
      Act  (LINDNER FUND, INC.,    LINDNER DIVIDEND FUND, AND
      LINDNER INVESTMENT SERIES)

  [X] Investment Company Adviser registered under Section 203 of the
     Investment Advisers Act of 1940     (RYBACK MANAGEMENT CORPORATION)

Item 4   Ownership:
         The Shares listed below were held in a fiduciary capacity by 
         Ryback Management Corporation and/or Lindner Fund, Inc. as of
         December 31, 1994
     
   (A) Amount beneficially owned:  Lindner Fund, Inc. 2,330,000 common shares
                      354,286 converted shares managed by Ryback Management 
   (B) Percent of class:  8.26% on a fully diluted basis
   (C) Number of shares as to which such subject COMPANY has:
         (1)sole power to vote or direct to vote:   2,684,286
         (2)shared power to vote or direct to vote: 
         (3)sole power to dispose of or direct disposition of:  2,684,206
         (4)shared power to dispose or direct disposition of: 

 Instruction:  For computation regarding securities which represent the right
               to acquire an underlying security see Rule 13d-3(d)(1).


Page 4


     
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.
         
         Lindner Fund, Inc., a registered investment company, is the holder of 
         8.50% of the common class of securities. (non diluted)  

Item 7.  Identification and Classification of the Subsidiary which Acquired  
          the Security Being Reported On By the Parent Holding Company.
          See Item 3

Item 8.  Identification and Classification of Members of the Group.
         Not Applicable

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 purposes or
          effect.

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: January 25, 1955              


                                  /s/   Eric E. Ryback, President
                                     Ryback Management Corporation
                                     Lindner Fund, Lindner Dividend Fund, Inc.
                                     and Lindner Investment Series Trust
                                     (314) 727-5305
                                           
                                                   




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