UNITED STAES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.6)
CONTINENTAL INFORMATION SYSTEMS CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK $.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
211497102
- --------------------------------------------------------------------------------
(CUSIP Number)
DAVID M. GERSTEIN, ESQ.
GERSTEIN & CHURCHILL, P.C.
300 Park Avenue, 20th Fl., N.Y., N.Y. 10022 - (212) 223-0600
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 28, 1997
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement of Schedule 13G to report
the acquisition which is the subject of the Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with this statement [X].
(A fee is not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filed 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 on 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>
SCHEDULE 13D
CUSIP No.211497102 Page 2 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OSCAR GRUSS & SON INCORPORATED
E.I.D NO. 13-2913779
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* PF; See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.4% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BD & CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No.211497102 Page 3 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EMANUEL GRUSS
S.S. NO. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.3% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No.211497102 Page 4 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HARVEY GELFENBEIN
S.S. NO. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.3% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No.211497102 Page 5 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HERMAN MERKIN
S.S. NO. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No.211497102 Page 6 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MICHAEL ROSEN
S.S. NO. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.4% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No.211497102 Page 7 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EMANUEL GRUSS AND HARVEY GELFENBEIN TRUSTEES
FBO OREN ARTHUR GRUSS HIRSCH
EID NO. 13-6875251
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.5% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No.211497102 Page 8 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EMANUEL GRUSS AND HARVEY GELFENBEIN TRUSTEES
FBO JONATHAN OSCAR GRUSS HIRSCH
EID NO. 13-6960808
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.5% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No.211497102 Page 9 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EMANUEL GRUSS AND HARVEY GELFENBEIN TRUSTEES
FBO RIPTON PHILIP GRUSS ROSEN
EID NO. 13-6960809
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.5% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No.211497102 Page 10 of 16 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EMANUEL GRUSS AND HARVEY GELFENBEIN TRUSTEES
FBO MORGAN ALFRED GRUSS ROSEN
EID NO. 13-7012429
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS* See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES See Item 5
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH See Item 5
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH See Item 5
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
See Item 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.4% - See Item 5
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 211497102 Page 11 of 16 Pages
---------
Item 2. Identity and Background
All of the persons filing this Amendment No. 6 have been previously
identified as Reporting Persons in the Schedule 13D, as amended, which has been
previously filed.
During the past five years, none of the Reporting Persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors); or except as heretofore described, was a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and as
a result thereof was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
Item 3. Source and Amount of Funds or Other Consideration
Of the 133,872 shares of Common Stock as to which disclosure is made,
120,220 shares were purchased by Oscar Gruss & Son Incorporated ("OGSI") for an
aggregate consideration of $216,453.66 and the remaining 13,652 shares were
received by certain of the Reporting Persons, without any additional payment, as
further distributions from the issuer resulting from the previous acquisition of
claims against CIS Corp., Continental Information Systems Corp. and certain
affiliated companies in the Bankruptcy case elsewhere described in this Schedule
13D, as amended. Of those 13,652 shares of stock which were so distributed,
3,962 shares were distributed to OGSI, 385 shares were distributed to Emanuel
Gruss, 2,993 shares were distributed to Harvey Gelfenbein, 1,290 shares were
distributed to Hermann Merkin, 591 shares were distributed to Harvey Gelfenbein
and Emanuel Gruss as Trustees for Ripton Philip Gruss Rosen, 591 shares were
distributed to Harvey Gelfenbein and Emanuel Gruss as Trustees for Jonathan
Oscar Hirsch Gruss, 394 shares were distributed to Harvey Gelfenbein and Emanuel
Gruss as Trustees for Morgan Alfred Gruss Rosen, and 788 shares were distributed
to Harvey Gelfenbein and Emanuel Gruss as Trustees for Arthur Gruss Hirsch. In
addition, as a result of the understanding between Michael Rosen and other
Reporting Persons described above, Mr. Rosen became entitled to receive, without
any payment by him, an additional 2,658 shares.
No portion of the funds or other consideration used by any of the Reporting
Persons to purchase the shares of Common Stock covered by this Amendment was
borrowed.
<PAGE>
SCHEDULE 13D
CUSIP No. 211497102 Page 12 of 16 Pages
---------
Item 5. Interest in Securities of the Issuer.
The following table sets forth the number of shares of the Common Stock of
the Issuer which are beneficially owned by each Reporting Person and by all of
the Reporting Persons in the aggregate, as a group, together with the percentage
of such Common Stock beneficially owned by each Reporting Persons and all
Reporting Persons in the aggregate as a group on the date hereof. Except for the
shared powers of Emanuel Gruss and Harvey Gelfenbein, as trustees of the trusts
described below, each Reporting Person has sole power to vote and dispose of the
Shares of such Common Stock which are beneficially owned by such Reporting
Person.
Percentage
Number of of Common
Shares Stock
Beneficially Beneficially
Name Owned Owned
---- ------------ -----------
Oscar Gruss & Son Inc. 449,927 (Note 1) 6.4%
Emanuel Gruss 303,361 (Note 1) 4.3%
Riane Gruss 100,000 (Note 1) 1.4%
Harvey Gelfenbein 18,451 (Note 1) .3%
Hermann Merkin 164,355 (Note 1) 2.4%
Michael Rosen 29,605 (Note 1) .4%
Julius S. Anreder 10,000 .14%
Daniel Goldberg 10,000 .14%
Emanuel Gruss and 35,660 (Notes 1 & 2) .5%
Harvey Gelfenbein as
Trustees FBO Oren Arthur
Gruss Hirsch
<PAGE>
SCHEDULE 13D
CUSIP No. 211497102 Page 13 of 16 Pages
---------
Emanuel Gruss and 31,745 (Notes 1 & 3) .5%
Harvey Gelfenbein as
Trustees FBO Jonathan
Oscar Gruss Hirsch
Emanuel Gruss and 31,745 (Notes 1 & 4) .5%
Harvey Gelfenbein as
Trustees FBO Ripton
Philip Gruss Rosen
Emanuel Gruss and 27,831 (Notes 1 & 5) .4%
Harvey Gelfenbein as
Trustees FBO Morgan
Alfred Gruss Rosen
Emanuel Gruss and 12,500 (Note 6) .2%
Harvey Gelfenbein as
Trustees FBO Leni Gruss
Hirsch __________________ _______
All of the Reporting 1,225,180 17.5%
Persons in the Aggregate
as a Group
Note 1: Of the shares beneficially owned by Rosen, a portion is being
held by OGSI for him and a portion is being held by OGSI for him
in an account which is maintained for Merkin. Rosen may be
entitled to receive a portion of the shares of Common Stock held
by other Reporting Persons depending on future events. See Item 6.
Note 2: Such shares are being held in trust for the benefit of Oren
Arthur Gruss Hirsch by Emanuel Gruss and Harvey Gelfenbein as
trustees under a trust agreement dated June 17, 1986. The
trustees have the shared power to vote and dispose of such
shares.
Note 3: Such shares are being held in trust for the benefit of Jonathan
Oscar Gruss Hirsch by Emanuel Gruss and Harvey Gelfenbein as
trustees under a trust agreement dated December 26, 1960. The
trustees have the shared power to vote and dispose of such shares.
Note 4: Such shares are being held in trust for the benefit of Ripton
Philip Gruss Rosen by Emanuel Gruss and Harvey Gelfenbein as
trustees under a trust agreement dated December 26, 1960. The
trustees have the shared power to vote and dispose of such shares.
Note 5: Such shares are being held in trust for the benefit of Morgan
Alfred Gruss Rosen by Emanuel Gruss and Harvey Gelfenbein as
trustees under a trust agreement dated March 22, 1993. The
trustees have the shared power to vote and dispose of such shares.
<PAGE>
SCHEDULE 13D
CUSIP No. 211497102 Page 14 of 16 Pages
---------
Note 6: Such shares are being held in trust for the benefit of Leni
Gruss Hirsch by Emanuel Gruss and Harvey Gelfenbein as Trustees
under a trust agreement dated June 9, 1995. The trustees have the
shared power to vote and dispose of such shares.
During the past sixty days, the following transactions in the Common Stock
of the Issuer were effected by the following Reporting Persons in the over the
counter market
Name of Reporting Price Per Date of
Person Shares Bought Share Transaction
-------------- ------------- ----- -----------
Oscar Gruss & Son, Inc 10,600 2.53 02/24/97
13,300 2.53 02/21/97
20,000 2.78 01/30/97
12,200 2.88 01/30/97
2,000 2.53 02/27/97
<PAGE>
SCHEDULE 13D
CUSIP No. 211497102 Page 15 of 16 Pages
---------
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true and complete.
Dated: March 4, 1997
OSCAR GRUSS & SON INCORPORATED
By: /S/ Julius S. Anreder
------------------------------------
Vice-President
/S/ Julius S. Anreder
------------------------------------
EMANUEL GRUSS, BY JULIUS S. ANREDER,
AS ATTORNEY IN FACT
/S/ Julius S. Anreder
------------------------------------
HARVEY GELFENBEIN, BY JULIUS S. ANREDER,
AS ATTORNEY IN FACT
/S/ Hermann Merkin
------------------------------------
HERMANN MERKIN
/S/ Julius S. Anreder
------------------------------------
MICHAEL ROSEN, BY JULIUS S. ANREDER,
AS ATTORNEY IN FACT
/S/ Julius S. Anreder
------------------------------------
EMANUEL GRUSS AND HARVEY
GELFENBEIN AS TRUSTEES FOR THE
BENEFIT OF OREN ARTHUR GRUSS
HIRSCH, BY JULIUS S. ANREDER,
AS ATTORNEY IN FACT
<PAGE>
SCHEDULE 13D
CUSIP No. 211497102 Page 16 of 16 Pages
---------
SIGNATURES
(Continued)
/S/ Julius S. Anreder
------------------------------------
EMANUEL GRUSS AND HARVEY
GELFENBEIN AS TRUSTEES FOR THE
BENEFIT OF JONATHAN OSCAR
GRUSS HIRSCH, BY JULIUS S. ANREDER,
AS ATTORNEY IN FACT
/S/ Julius S. Anreder
------------------------------------
EMANUEL GRUSS AND HARVEY
GELFENBEIN AS TRUSTEES FOR THE
BENEFIT OF RIPTON PHILIP GRUSS
ROSEN, BY JULIUS S. ANREDER,
AS ATTORNEY IN FACT
/S/ Julius S. Anreder
------------------------------------
EMANUEL GRUSS AND HARVEY
GELFENBEIN AS TRUSTEES FOR THE
BENEFIT OF MORGAN ALFRED GRUSS
ROSEN, BY JULIUS S. ANREDER,
AS ATTORNEY IN FACT
