UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 11)*
Petroleum & Resources Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
716549 10 0
------------------------------------
(CUSIP Number)
December 27, 1999
------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d 1(b)
|_| Rule 13d 1(c)
|X| Rule 13d 1(d)
*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).
Page 1 of 4 pages
<PAGE>
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CUSIP No. 716549 10 0 13G Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
THE ADAMS EXPRESS COMPANY
Tax I.D. 13-4912740
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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
MARYLAND
- ---------------------------------- ---------- ----------------------------------
5 SOLE VOTING POWER
1,210,085 shs.
NUMBER OF
---------- ----------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,210,085 shs.
---------- ----------------------------------
WITH 8 SHARED DISPOSITIVE POWER
-0-
- ---------------------------------- ---------- ----------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,210,085 shs.
- ------------- ------------------------------------------------------------------
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
8.5%
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12 TYPE OF REPORTING PERSON*
IV
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 4 pages
<PAGE>
Item 1.
(a) Name of Issuer:
Petroleum & Resources Corporation
(b) Address of Issuer's Principal Executive Office:
7 St. Paul Street, Suite 1140
Baltimore, MD 21202
Item 2.
(a), (b) and (c) Name of Persons Filing, Address of Principal Business
-----------------------------------------------------
Office and Citizenship:
-----------------------
This statement is filed by The Adams Express Company,
a Maryland corporation, which has its principal office at 7 St. Paul Street,
Suite 1140, Baltimore, MD 21202.
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number:
716549 10 0
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), check whether the person filing is an:
Not applicable.
Item 4. Ownership
(a) Amount beneficially owned: 1,210,085
(b) Percent of Class: 8.5%
(c) Number of shares as to which the person has:
(i) Sole power to direct the vote: 1,210,085
(ii) Shared power to direct the vote: -0-
(iii) Sole power to dispose or to direct the
disposition of: 1,210,085
(iv) Shared power to dispose or to direct the
disposition of: -0-
Page 3 of 4 pages
<PAGE>
Item 5. Ownership of Five 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 five percent of the class securities, check the following |_|.
Item 6. Ownership of More than Five 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
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
Not applicable.
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 16, 2000
THE ADAMS EXPRESS COMPANY
By: /s/ Lawrence L. Hooper
-------------------------------
Lawrence L. Hooper, Esq.
Vice President, Secretary and
General Counsel
Page 4 of 4 pages
