SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G Under
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under The Securities Exchange Act of 1934
(Amendment No.1)
Sylvan Inc.
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(Name Of Issuer)
Common Par
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(Title of Class of Securities)
871371100
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(Cusip Number)
(Continued on the following page(s))
Page 1 of 6 Pages
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CUSIP No. 871371100 13G Page 2 of 6 Pages
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Sylvan Inc.
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON.
The Chase Manhattan Corporation - CMC
The Chase Manhattan Bank - CMB
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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
The Chase Manhattan Corporation - Delaware
The Chase Manhattan Bank - New York
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NUMBER 5 SOLE VOTING POWER
OF CMC - 277,200
SHARES CMB - 277,200
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY CMC - 11,100
CMB - 11,100
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING CMC - 283,450
PERSON CMB - 283,450
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WITH 8 SHARED DISPOSITIVE POWER
CMC - 26,700
CMB - 26,700
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
CMC - 310,150
CMB - 310,150
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
CMC - 4.852 %
CMB - 4.852 %
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12 TYPE OF PERSON REPORTING*
CMC - HC
CMB - BK
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* SEE INSTRUCTION BEFORE FILLING OUT!
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Item 1(a). Name of Issuer:
Sylvan Inc.
Item 1(b). Address of Issuer's:
333 Main Street
P.O.Box 249
Saxunburg, Pa. 16056-0299
To the Attention of Donald A Smith CFO
Offices
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Item 2(a). Name of Person Filing: This notice is filed by The Chase
--------------------- Manhattan Corporation (CMC) and its wholly
owned subsidiary, The Chase Manhattan Bank
(CMB)
Item 2(b). Address of Principal Business CMC: 270 Park Avenue
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Office: New York, NY 10017
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CMB: 270 Park Avenue
New York, NY 10017
Item 2(c). Citizenship: CMC - Delaware
----------- CMB - New York
Item 2(d). Title of Class of Securities: Common Par
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Item 2(e). CUSIP Number: 871371100
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Sylvan Inc.
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:
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(a) Amount Beneficially Owned: CMC - 310,150
As of December 31, 1998 CMB - 310,150
(b) Percent of Class: CMC - 4.852%
CMB - 4.852%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
CMC - 277,200
CMB - 277,200
(ii) Shared power to vote or to direct the vote:
CMC - 11,100
CMB - 11,100
Page 4 of 6
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Sylvan Inc.
iii) Sole power to dispose or to direct the disposition of:
CMC - 283,450
CMB - 283,450
(iv) Shared power to dispose or to direct the disposition of:
CMC - 26,700
CMB - 26,700
Item 5. Ownership of Five Percent or Less of a Class:
Less than five percent
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Not Applicable
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 CMC and its subsidiary, CMB. In lieu of attaching an exhibit
hereto, the identity of CMB is as set forth on the cover page
hereof. CMB 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
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Sylvan Inc.
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: Februray 9, 1999
The Chase Manhattan Bank THE CHASE MANHATTAN CORPORATION
/s/ Joan B. Williams /s/ Anthony J. Horan
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Joan B. Williams Anthony J. Horan
Compliance Officer Corporate Secretary
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