SANTA ANITA OPERATING CO
SC 13D/A, 1994-06-20
RACING, INCLUDING TRACK OPERATION
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               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                                
                                                
                          SCHEDULE 13D
                      ( Amendment No. 01 )
                                
                                                
            Under the Securities Exchange Act of 1934
                                 
                Santa Anita Realty Enterprises, Inc.          
                        (Name of Issuer)
                                
                        
             Common Stock Par Value $0.10 Per Share     
                (Title of Class and Securities) 
                                
                                                
                           801209206                  
              (CUSIP Number of Class of Securities)
                                                
                                                
                                                
          J. Hamilton Crawford Jr. , Gabelli Funds, Inc.,
     One Corporate Center, Rye, NY 10580-1434 (914) 921-5067
    (Name, Address and Telephone Number of Person Authorized
             to Receive Notices and Communications)
                                
                                                
                           June 16, 1994                      
     (Date of Event Which Requires Filing of this Statement)
                                

If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this State-
ment 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 State-
ment:
                                                       _____
                                                      / x  /
<PAGE>
_________________________________________________________________

CUSIP No. 801209206                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli & Company, Inc.            I.D. No. 13-2885006
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      OO: Funds of client discretionary accounts and working 
          capital of its own account
_________________________________________________________________
(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
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     None (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     3,500 (Item 5)
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     None (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     3,500 (Item 5)
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      3,500 (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
      0.03%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      BD
_________________________________________________________________
              *SEE INSTRUCTIONS BEFORE FILLING OUT!  
______________________________________

CUSIP No. 801209206                                       13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli Funds, Inc.            I.D. No. 13-3056041
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC 
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          _____
                                                     /  x /
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      New York
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     22,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  (Item 5) 
 OWNED BY EACH REPORTING                :________________________
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     22,000 (Item 5)
                                        :________________________
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  (Item 5)  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      22,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         _____
                                                     /  x /
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.20%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      HC
_________________________________________________________________
              *SEE INSTRUCTIONS BEFORE FILLING OUT!  
_____________________________________

CUSIP No. 801209206                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      GAMCO Investors, Inc.              I.D. No. 13-2951242
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      OO:  Funds of investment advisory clients
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          _____
                                                     /  x /
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      New York
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     720,900 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None 
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     794,900 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      794,900 (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
      7.06%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      IA
_________________________________________________________________
              *SEE INSTRUCTIONS BEFORE FILLING OUT!   <PAGE>
CUSIP No. 801209206                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
     S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
     Mario J. Gabelli                  I.D. No. ###-##-####
_________________________________________________________________ 
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC 
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     / x /
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      USA 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     None (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     None (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     None (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         _____
                                                     /  x /
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.00%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      IN
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________

CUSIP No. 801209206                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli International Limited  I.D. No. Foreign Corporation
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC 
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      British Virgin Islands
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     2,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     2,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      2,000 (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
      0.02%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
This Amendment No. 1 to Schedule 13D of Santa Anita
Realty Enterprises,Inc., (the "Issuer"), is being filed on behalf
of the undersigned to amend the Schedule 13D as amended (the
"Schedule 13D") which was originally filed on May 26, 1994. 
Unless otherwise indicated, all capitalized terms used herein
shall have the same meaning as set forth in the Schedule 13D.

Item 3.   Source and Amount of Funds or Other Consideration
          All Reporting Persons used an aggregate of approximate-
ly $2,123,474 to purchase its Securities.  GAMCO and GFI used ap-
proximately $1,950,349 and $173,125, respectively, of funds that
were provided through the accounts of certain of their investment
advisory clients (and, in the case of some of such accounts at
GAMCO, may be through borrowings from client margin accounts) in
order to purchase the Securities for such clients.  

Item 5.   Interest In Securities Of The Issuer
          (a)  The aggregate number and percentage of Securities
to which this Schedule 13D relates is 822,400 shares, repre-
senting 7.31% of the 11,256,353 shares outstanding in the Issu-
er's most recently filed Form 10-Q dated May 4, 1994.  The
Reporting Persons beneficially own those Securities as follows: 


                              Shares of           % of
                              Common              Class of
Name                          Stock               Common  
                                      
GFI:
  As Principal                       0                0.00%
  As Agent                      22,000                0.20%

Gabelli & Company
   Principal/Trading                 0                0.00%
   Agent                         3,500                0.03%

GAMCO
  As Principal                       0                0.00%
  As Agent                     794,900                7.06%


GIL                              2,000                0.02%


Mario J. Gabelli                     0                0.00%




          Mr. Gabelli is deemed to have beneficial ownership of the
Securities beneficially owned by each of the foregoing persons and
GFI is deemed to have beneficial ownership of the securities owned
beneficially by each of the foregoing persons other than Mr.
Gabelli. 
          (b) Each of the Reporting Persons and Covered Persons has
the sole power to vote or direct the vote and sole power to dispose
or to direct the disposition of the Securities reported for it,
either for its own benefit or for the benefit of its investment
clients or its partners, as the case may be, except that GAMCO
Investors, Inc. does not have authority to vote 74,000 of the
reported shares and except that GFI has sole dispositive and voting
power with respect to the shares of the Issuer held by the The
Gabelli Asset Fund, The Gabelli Equity Trust, Inc., The Gabelli
Growth Fund, The Gabelli Convertible Securities Fund, The Gabelli
Value Fund Inc., The Gabelli Small Cap Growth Fund , The Gabelli
Equity Income Fund, ,The Gabelli ABC Fund, The Gabelli Global
Telecommunications Fund, The Gabelli Global Convertible Securities
Fund and/or The Gabelli Global Interactive Couch Potato Fund, so
long as the aggregate voting interest of all joint filers does not
exceed 25% of their total voting interest in the Issuer and in that
event, the Proxy Voting Committee of each Fund (other than The
Gabelli Growth Fund) shall respectively vote that Funds shares, and
except that, at any time , the Proxy Voting Committee of each such
Fund may take and exercise in its sole discretion the entire voting
power with respect to the shares held by such Fund under special
circumstances such as regulatory considerations, and except that
Gabelli & Company shares with the clients for whose accounts such
Securities were purchased the voting and dispositive power with
respect to 3,500 shares purchased for such accounts, and except
that the power of Mr. Gabelli and GFI is indirect with respect to
Securities beneficially owned directly by other Reporting Persons. 
          (c) Information with respect to all transactions in the
Securities which were effected during the past sixty days by each
of the Reporting Persons and Covered Persons is set forth on
Schedule II annexed hereto and incorporated herein by reference.
          <PAGE>
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:    June 20, 1994
                                   MARIO J. GABELLI


                                  By:_____________________________
                                     Stephen G. Bondi   
                                     Attorney-in-Fact             
                                                        


                                   GABELLI FUNDS, INC. 
                     

                                   By:_________________________
                                      Stephen G. Bondi
                                      Vice President - Finance

   

                                   GAMCO INVESTORS, INC.  
                                   

                                   By:_________________________
                                      Douglas R. Jamieson  
                                      Chief Operating Officer
                                      and Executive Vice President


                                                                       
                                   GABELLI INTERNATIONAL LIMITED  
                                   

                                   By:_________________________
                                      Mario J. Gabelli, Chairman
                                      and Investment Manager
                                      by: Stephen G. Bondi
                                          Attorney-in-Fact



                                    GABELLI & COMPANY, INC.
                     
                                                                       
                                    By:__________________________
                                       Stephen G. Bondi
                                       Vice President

Schedule I



              Information with Respect to Executive
            Officers and Directors of the Undersigned 

          Schedule I to Schedule 13D is amended, in pertinent
part, as follows:
     
          The following sets forth as to each of the executive
officers and directors of the undersigned: his name; his business
address; and his present principal occupation or employment and
the name, principal business and address of any corporation or
other organization in which such employment is conducted.  Unless
otherwise specified, the principal employer of each such in-
dividual is Gabelli Funds, Inc., Gabelli & Company, Inc., or
GAMCO Investors, Inc., the business address of each of which is
One Corporate Center, Rye, New York 10580, and each such
individual identified below is a citizen of the United States. 
To the knowledge of the undersigned, during the last five years,
no such person has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), and no
such person was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of
which he 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 law or finding
any violation with respect to such laws except as reported in
Item 2(d) of this Schedule 13D. 


Gabelli Funds, Inc. 

Directors: 

     Mario J. Gabelli

     Richard B. Black              Chairman of Raster Image
                                   Processing Systems; Chairman
                                   ECRM; Director of Archetype
                                   and Oak Technology; Director
                                   of The Morgan Group, Inc.;
                                   General Partner of KBA Part-  
                                   ners, Parker Plaza
                                   400 Kelby Street,
                                   Fort Lee, NJ 07029

     Charles C. Baum               Chairman, Director and Chief
                                   Executive Officer of The
                                   Morgan Group, Inc.;
                                   Secretary & Treasurer
                                   United Holdings              
                                   2545 Wilkens Avenue
                                   Baltimore, MD  21223

     Dr. Eamon M. Kelly            President
                                   Tulane University
                                   218 Gibson Hall
                                   6823 St. Charles Avenue
                                   New Orleans, LA  70118

Officers:

     Mario J. Gabelli              Chairman, Chief Executive
                                   Officer and Chief Investment
                                   Officer
     J. Hamilton Crawford, Jr.     Vice President and Assistant 
                                   Secretary  

     Stephen G. Bondi              Vice President - Finance

     Joseph J. Frazzitta           Assistant Secretary

GAMCO Investors, Inc.

Directors:
     Douglas R. Jamieson
     Joseph R. Rindler, Jr.
     Regina Pitaro
     Joseph J. Frazzitta
     William F. Scholz

Officers:
     
     Mario J. Gabelli              Chief Investment Officer

     Douglas R. Jamieson           Chief Operating Officer and
                                   Executive Vice President 

     Joseph J. Frazzitta           Vice President and Chief
                                   Financial Officer
  
     James E. McKee                Vice President, Legal and
                                   Compliance and Assistant
                                   Secretary

     J. Hamilton Crawford, Jr.     Assistant Secretary    



Gabelli Securities, Inc.

Directors:

     Charles C. Baum               See above-Gabelli Funds, Inc.


     Joseph R. Rindler             Managing Director
                                   Gabelli & Company, Inc.
                                   One Corporate Center
                                   Rye, NY  10580

     David Perlmutter              Perlmutter & Associates
                                   200 Park Avenue, Suite 4515
                                   New York, N.Y.  10166

     Stephen G. Bondi              Acting Chief Operating Officer
                                   and Vice President

Advisors:

     Vincent J. Amabile
     Robert Blake

Officers:

     Stephen G. Bondi              Acting Chief Operating Officer
                                   and Vice President

     J. Hamilton Crawford, Jr.     Vice President                
                                   and Assistant Secretary  

     Erwin I. Mevorah              Vice President - Finance 
                                                      



Gabelli & Company, Inc.

Directors:

     James G. Webster, III         Chairman 

     Charles C. Baum               See above-Gabelli Funds, Inc.

     Joseph J. Frazzitta           Vice President and
                                   Chief Financial Officer

Officers:

     James G. Webster, III         Chairman 

     Joseph J. Frazzitta           Vice President/Finance and
                                   Chief Financial Officer

     Stephen G. Bondi              Vice President 

     J. Hamilton Crawford, Jr.     Vice President  
                                   and Assistant Secretary   
     
     Berton Seltzberg              Vice President - Compliance 


GLI, Inc.

Directors:

     Mario J. Gabelli              See above-Gabelli Funds, Inc.


Officers:

     Mario J. Gabelli              Chairman and Chief Investment
                                   Officer

     Stephen G. Bondi              Vice President

     J. Hamilton Crawford, Jr.     Assistant Secretary  



Gabelli Associates Limited

Directors:

     Mario J. Gabelli              See above-Gabelli Funds, Inc.


     MeesPierson  (Cayman)         British American Centre   
     Limited                       Dr. Roy's Drive- Phase 3
                                   Georgetown, Grand Cayman   
                                   Cayman Islands, British West Indies

     MeesPierson  (Cayman)         British American Centre   
     Limited                       Dr. Roy's Drive- Phase 3
                                   Georgetown, Grand Cayman   
                                   Cayman Islands, British West Indies

Officers:

     Mario J. Gabelli              Chief Investment Officer

     Kevin Bromley                 Vice President, Treasurer and
                                   Assistant Secretary

     Sandra Wight                  Secretary and Assistant Treasurer


Gabelli International Limited

Directors:

     Mario J. Gabelli              See above-Gabelli Funds, Inc.
   
     MeesPierson  (Cayman)         British American Centre   
     Limited                       Dr. Roy's Drive- Phase 3
                                   Georgetown, Grand Cayman   
                                   Cayman Islands, British West Indies

Officers:


     Kevin Bromley                 Vice President, Treasurer, and      
                                   Assistant Secretary                 
                                   MeesPierson (Cayman) Limited
                                   British American Centre  
                                   Dr. Roy's Drive- Phase 3   
                                   Georgetown, Grand Cayman    
                                   Cayman Islands, British West Indies

     Sandra Wight                  Secretary and Assistant Treasurer
                                   Assistant Secretary                 
                                   MeesPierson (Cayman) Limited
                                   British American Centre  
                                   Dr. Roy's Drive- Phase 3   
                                   Georgetown, Grand Cayman    
                                   Cayman Islands, British West Indies

Lynch Corporation
8 Sound Shore Drive
Greenwich, CT  06830

Directors:

     Paul J. Evanson               Chief Financial Officer 
                                   FPL Group, Inc.
                                   P.O Box 14000
                                   700 Universe Blvd.
                                   Juno Beach, Fl 33408

     Bradley J. Bell               Vice President & Treasurer
                                   Whirlpool Corp.
                                   Administrative Center
                                   Benton Harbor, MI  49022

     Morris Berkowitz              Business Consultant
                                   163-43 Willets Point Blvd.
                                   Whitestone, NY 11357


     Richard J. Boyle              Chairman, The Boyle Group
                                   6110 Blue Circle Drive  
                                   Suite 250 
                                   Minnetonka, MN 55343
  

     Mario J. Gabelli              See above-Gabelli Funds, Inc.

     Robert C. Kolodny, M.D.       Medical Director and Chairman
                                   of the Board of The Behavorial
                                   Medicine Institute
                                   885 Oenoke Ridge Road
                                   New Canaan, CT  06840


     Paul Woolard                  Business Consultant
                                   116 East 68th Street
                                   New York, NY 10021

     E. Val Cerutti                Business Consultant          
                                   Cerutti Consultants 
                                   227 McLain Street
                                   Mount Kisco, NY   10549


Officers:

     Mario J. Gabelli              Chairman and Chief Executive   
                                   Officer

     Philip J. Lombardo            Office of the President

     Michael J. Small              Office of the President
<PAGE>
     Joseph H. Epel                Treasurer

     Robert E. Dolan               Chief Financial Officer 

     Carmine Ceraolo               Assistant Controller

     Robert A. Hurwich             Vice President-Administration,
                                   Secretary and General Counsel

     Mary J. Carroll               Administrative Assistant 


Safety Railway Service Corporation
251 Welton Street
Hamden, CT 06517

Directors:

     Joseph P. Rhein               Chairman                
                                   241 McClenaghan Mill Road
                                   Wynnewood, PA 19096
                                   
     William F. Bullis             Safety Railway Service Corporation
                                   265 Great Neck Road
                                   Great Neck, NY 11021

Officers:

     Robert E. Dolan               Controller

     Joseph H. Epel                Treasurer and Assistant
                                   Secretary

     James W. Toman                Assistant Secretary 


Entoleter, Inc.
251 Welton Street
Hamden, CT  06517

Directors:

     Joseph P. Rhein               See above-Safety Railway

     William F. Bullis             See above-Safety Railway

Officers:

     John M. Martin                President

     James W. Toman                Chief Financial Officer

     Joseph H. Epel                Treasurer and Secretary

     Robert E. Dolan               Controller

Western New Mexico Telephone Company
314 Yankee Street
Silver City, NM  08062

Directors:

     Jack C. Keen                  Chairman

     Jack W. Keen                  President

     Dr. Brian E. Gordon           Vice President

     Mary Beth Baxter              Secretary & Treasurer

     Robert E. Dolan               See above-Lynch Corporation

     Joseph H. Epel                See above-Lynch Corporation

     Carmine Ceraolo               See above-Lynch Corporation

     Mary J. Carroll               See above-Lynch Corporation


Officers:

     Jack C. Keen                  Chairman of the Board

     Jack W. Keen                  President

     Jack L. Bentley               Executive Vice President

     Dr. Brian E. Gordon           Vice President

     Charles M. Baxter             Sr. Vice President-Operations
     
     James M. Bucher               Asst. Vice President-         
                                   Operations 

     Mary Beth Baxter              Secretary & Treasurer

     Joseph H. Epel                Assistant Treasurer


Inter-Community Telephone Company
P.O. Box A
Nome, ND  58062

Directors:

     Mary J. Carroll               See above-Lynch Corporation

     Carmine P. Ceraolo            See above-Lynch Corporation
                                   
     Robert E. Dolan               See above-Lynch Corporation

     Joseph H. Epel                See above-Lynch Corporation

     Leone A. Nilsen               President

     Roger J. Nilsen               P.O. Box 146
                                   Hannaford, ND 58448

     Duane A. Plecity              Secretary

     Harry B. Snyder               P.O. Box 131
                                   Buffalo, ND  58011

     Robert Snyder                 200 Broadway South
                                   Buffalo, ND 58011
Officers:

     Leone A. Nilsen               President
     
     Robert Snyder                 Vice President 
     
     Duane A. Plecity              Secretary
     
     Harry B. Snyder               Treasurer

     Joseph H. Epel                Assistant Treasurer

<PAGE>
                         

                                                            SCHEDULE II

INFORMATION WITH RESPECT TO 
TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR
SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)

                       DATE         SHARES PURCHASED            AVERAGE
                                         SOLD(-)                PRICE(2)

COMMON STOCK-SANTA ANITA CONS INC

GABELLI FUNDS, INC.
     THE GABELLI ASSET FUND

                      6/06/94       10,000                        17.3125

GAMCO INVESTORS, INC.

                     6/16/94        6,000                         17.5583 
                     6/16/94        5,000                         17.7500
                     6/15/94       11,300                         17.6195
                     6/14/94        1,100-                        17.3750
                     6/14/94        2,000                         17.3750
                     6/14/94        2,500                         17.5000
                     6/14/94        3,000                         17.7500
                     6/13/94        1,100                         17.3750
                     6/10/94        4,000                         16.9840
                     6/10/94        7,800                         17.1971
                     6/10/94          500                         17.2500
                     6/09/94        1,000-                        17.1054
                     6/09/94        1,000                         17.1054
                     6/09/94       10,700                         17.1215
                     6/09/94        4,000                         17.2500
                     6/08/94        8,300                         17.1054
                     6/08/94       11,000                         17.2500
                     6/07/94        9,000                         17.0069
                     6/06/94        3,000                         17.0000
                     6/06/94        1,000                         17.1250
                     6/06/94          500                         17.3750











                     6/03/94        1,000-                        17.1316
                     6/03/94        4,000-                        17.4343
                     6/03/94       15,500                         17.1210
                     6/03/94        1,000                         17.1316
                     6/03/94        1,500                         17.2500
                     6/03/94        4,000                         17.3750
                     6/02/94          200-                        17.3750
                     6/02/94        5,000                         17.3750
                     6/02/94        1,500                         17.5000





(1)  UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED 
     ON THE NY STOCK EXCHANGE.

(2)  PRICE EXCLUDES COMMISSION.



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