BEST LOCK CORP
SC 13G/A, 1998-08-07
CUTLERY, HANDTOOLS & GENERAL HARDWARE
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<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C. 20549


                                  Schedule 13G

                   Under the Securities Exchange Act of  1934
                               (Amendment No. 3)*

                         Best Universal Lock Co. Ser. A
                                  Common Stock
                                   086581105
                                        

Check the following box if a fee is being paid with their 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  descried 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 their 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>
 
CUSIP No. 086581105                                               Page 2 of 4

1.    Name of Reporting Person
         S.S. or I.R.S.  Identification No. of Above Person
         First Chicago NBD Corporation  38-1984850*

2.    Check the Appropriate Box of a member if A Group* (a)[ ](b) [x]

3     SEC Use Only

4.    Citizenship or Place of Organization
         Delaware

Number of           5. Sole Voting Power

Shares                -0-

Beneficially        6. Shared voting Power

Owned by              -0-

Each                7. Sole Dispositive Power

Reporting             -0-

Person With         8. Shared Dispositive Power

                      -0-

9.     Aggregate Amount beneficially owned by Each Reporting Person
                      -0-

10.   Check box if the Aggregate Amount in Row (9) Excludes Certain Shares

11. Percent of Class represented by Amount in Row 9
                      0.0

12. Type of  Reporting Person*
     *Unless otherwise disclosed herein, all holdings of the Reporting Person
      are indirect through one or more subsidiaries. HC CO

sec 1745 (6-8)    SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
 
SEC 13 G                                                           Page 3 0f 4

SECURITIES AND EXCHANGE COMMISSION

SCHEDULE 13 G Amendment No. 3

Item 1(a)  Name of Issuer:
           Best Universal Lock Co.

Item 1(b)  Address of Issuer's Principal Offices:
           6161 75th Street
           Indianapolis, IN 46250

Item 2(a)  Name of Person filing:
           First Chicago NBD Corporation ("FCN")
 
Item 2(b)  Address of Principal Business Offices:
           One First National Plaza
           Chicago,  Illinois  60670

Item 2(c)  Citizenship
           Delaware

Item 2(d)  Title of Class of Securities:
           Common Stock

Item 2(e)  CUSIP No.:
           086581105

Item 3     Type of Person Filing:
           (g)  FCN is a Parent Holding Company in accordance with 
           240.13d-1(b)(ii)(g)

Item 4     Ownership:
           The shares listed below were held in a fiduciary capacity by one or
           more subsidiaries of First Chicago NBD Corporation as of July 31,
           1998

           A.)   Amount Beneficially owned:  -0-
           B.)   Percent of  Class: -0-
           C.)   Number of shares to which the subject Holding Company has
                 directly or through its subsidiaries:

           1.)   Sole power to vote or direct the vote: -0-
           2.)   Shared power to vote or to direct the vote: -0-
           3.)   Sole power to dispose or to direct the disposition of : -0-
           4.)   Shared power to dispose or to direct the disposition of : -0-
<PAGE>
 
                                                                  Page 4 of 4

Item 5     Ownership of 5 percent or less of a Class:
           If this statement is being filed to report the fact that as of the
           date hereof the Reporting Person has ceased to be the beneficial
           owner of more than 5 percent of securities, check the following[ x ].

Item 6     Ownership of More than 5 percent on Behalf of Another Person:
           Not Applicable

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 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.
           

Date: August 06, 1998

                                            /s/ Daniel T. Lis                  
                                            -------------------            
                                            Daniel T. Lis                  
                                            Assistant Secretary            
                                            First  Chicago NBD Corporation 
                                            (313) 225-3154                  


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