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OMB APPROVAL
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OMB NUMBER: 3235-0145
EXPIRES: DECEMBER 31, 1997
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE .... 14.90
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Mid Continent Bancshares, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
595282104
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(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 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).
*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 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).
CONFORMED COPY TO FILING MADE ON FEBRUARY 19, 1998
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CUSIP NO. 595282104 13D PAGE _____ OF____ PAGES
- -------------------- -----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PETER B. CANNELL & CO., INC.
13-3346990
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)[ ]
(b)[ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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5 SOLE VOTING POWER
NUMBER OF 86,450
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH
REPORTING -------------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER
86,450
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8 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
86,450 WHICH CONSISTS SOLELY OF COMMON STOCK
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.33%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Item 1(a). Name of Issuer:
Mid Continent Bancshares, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
124 West Central
El Dorado, Kansas 67042
Item 2(a). Name of Person Filing:
Peter B. Cannell & Co., Inc.
Item 2(b). Address of Principal Business Office:
645 Madison Avenue, New York, NY 10022
Item 2(c). Citizenship:
Delaware Corporation
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP No. 595282104
Item 3. Person filing statement is:
(e) [X] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
Item 4. Ownership:
(a) Amount Beneficially Owned: 86,450
(b) Percent of Class: 4.33%
(c) Number of shares as to which such person has sole power to
dispose or to direct the disposition of: 86,450
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Item 5. Ownership of Five Percent or less: 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 five
percent of the class of securities, check the following: [X]
Item 6. Ownership of More than Five Percent: N/A
Item 7. Identification and Classification of the Subsidiary: N/A.
Item 8. Identification and Classification of Members of Group: N/A.
Item 9. Notice of Dissolution: N/A.
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.
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.
February 19, 1998
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(Date)
Patricia Kogan
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(Signature)
Patricia Kogan, Vice President
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(Name/Title)
