SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under The Securities Exchange Act of 1934
(Amendment No. )
Laser-Pacific Media Corporation
____________________________________________________________
(Name Of Issuer)
Common Par
____________
(Title of Class of Securites)
517923108
______________________________
(Cusip Number)
Check the following box if a fee is being paid with this
statement [X]. (A fee is not required only if the filing
person : (1) has a previous statement on file reporting
beneficial ownership of more than 5% 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 rule13d-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).
(Continued on the following page(s))
Page 1 of 6 Pages
SEC 1745 (9-82)
CUSIP No. 517923108 13G Page 2 of 6 Pages
Laser-Pacific Media Corporation
1 NAME OF REPORTING PERSON S.S. OR I.R.S IDENTIFICATION
NO. OF ABOVE PERSON.
Chemical Banking Corporation - CBC
Chemical Bank - CB
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(A)
(B)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Chemical Banking Corporation - CBC
Chemical Bank - CB
NUMBER
OF
SHARES 5 SOLE VOTING POWER
CBC - 512,993
CB - 512,993
McCrae - 512,933
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
CBC - 0
CB - 0
McCrae - 0
EACH
REPORTING
PERSON 7 SOLE DISPOSITIVE POWER
CBC - 512,993
CB - 512,993
McCrae - 512,933
WITH 8 SHARED DISPOSITIVE POWER
CBC - 0
CB - 0
McCrae - 512,933
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
CBC - 512,993
CB - 512,993
McCrae - 512,933
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
CBC - 7.81%
CB - 7.81%
McCrae - 7.81%
12 TYPE OF PERSON REPORTING*
CBC - HC
CB - BK
McCrae - 100% subsidiary of the bank
* SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Laser-Pacific Media Corporation
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G Under The Securities Exchange Act of 1934
(Amendment No. )
Item 1(a). Name of Issuer: Laser-Pacific Media Corporation
Item 1(b). Address of Issuer: 809 North Cahuenga Blvd.
Hollywood, Ca. 90038-3703
Principal Executive Officer: James Parks
Chrm and CEO
Item 2(a). Name of Person Filing: This notice is filed by CHEMICAL BANKING
CORPORATION (CBC) and it wholly owned
subsidiary, Chemical Bank (CB)
Item 2(b). Address of Principal Business
CBC: 270 Park Avenue
Office: New York, NY 10017
CB: 270 Park Avenue
New York, NY 10017
Item 2(c). Citizenship:
CBC - Delaware
CB - Delaware
Item 2(d). Title of Class of Securities: Common Par
Item 2(e). CUSIP Number: 517923108
Page 3 of 6
<PAGE>
Laser-Pacific Media Corporation
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [ ]Broker or dealer registered under Section 15 of the Act.
(b) [ X ]Bank as defined in Section 3(a)(6) of the Act.
(c) [ ]Insurance Company as defined in Section 3(a)(19) of the Act.
(d) [ ]Investment Company registered under Section 8 of the
Investment Company Act.
(e) [ ]Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
(f) [ ]Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act
of 1974 or endowment Fund
[see Section 240.13d-1(b)(1)(ii)(F)].
(g) [ X ]Parent Holding Company, in accordance with
Section 240.13d-1(b)(ii)(G).
(h) [ ]Group, in accordance with Section 240.13d-1(ii)(H).
Item 4. Ownership:
(a)Amount Beneficially Owned: CBC - 512,993
CB - 512,993
McCrae - 512,933
(b)Percent of Class: CBC - 7.81%
CB - 7.81%
McCrae - 7.81%
(c)Number of shares as to which such person has:
(i)Sole power to vote or to direct the vote:
CBC - 512,993
CB - 512,993
McCrae - 512,933
(ii)Shared power to vote or to direct the vote:
CBC - 0
CB - 0
McCrae - 0
Page 4 of 6
<PAGE>
Laser-Pacific Media Corporation
(iii) Sole power to dispose or to direct the disposition of:
CBC - 512,993
CB - 512,993
McCrae - 512,933
(iv) Shared power to dispose or to direct the disposition of:
CBC - 0
CB - 0
McCrae - 0
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:
Pursuant to a judgment against Robert E. Seidenglanz, a debtor of
Chemical Bank, Chemical filed a motion to foreclose on the related
collateral, comprising common and preferred shares of
Laser-Pacific Media Corporation. As of March 16, 1995, per rulings
issued by the U.S. Bankruptcy Court of the Central District of
California, Chemical Bank, as holder of certain pledges,
obtained the right to sell its interests in the collateral in a
private sale. Accordingly, in a private sale on March 20, 1995, in
consideration for the principal sum of $100,000 Chemical Bank sold
its interest in the shares to McCrae Holdings, Inc. a subsidiary
of Chemical Bank.
Item 7. Identification and Classification of the Subsidiary Which Holds the
Security Being Reported on by the Parent Holding Company:
Pursuant to Rule 13(d) - 1(c): This notice is filed on
behalf of both CBC and its subsidiary, Chemical Bank. In
lieu of attaching an exhibit hereto, the identity of
Chemical Bank is as set forth on the cover page hereof.
Chemical Bank is classified as a Bank as such term is
defined in Section (3) (a) (6) of the Securities Exchange
Act of 1934, as amended.
Item 8. Identification and Classification of Members of this Group:
Not applicable.
Item 9. Notice of Dissolution of Group:
Not applicable.
Page 5 of 6
<PAGE>
Laser-Pacific Media Corporation
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 did 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.
Dated: February 2, 1996
CHEMICAL BANK CHEMICAL BANKING CORPORATION
/s/Jane E. Orndalh /s/John B. Wynne
Jane E. Orndahl John B. Wynne
Vice President of Corporate Secretary
Chemical Bank
Page 6 of 6
