PRESIDENT & FELLOWS OF HARVARD COLLEGE
SC 13G/A, 1998-10-09
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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   -----------

                                  SCHEDULE 13G
                                 (Rule 13d-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
          TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
                            PURSUANT TO RULE 13d-2(b)

                               (Amendment No. 3)(1)

                              U.S. Can Corporation
          ------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
          ------------------------------------------------------------
                         (Title of Class of Securities)

                                    90328W105
          ------------------------------------------------------------
                                 (CUSIP Number)

                                 August 31, 1998
          ------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

               |X| Rule 13d-1(b)
               |_| Rule 13d-1(c)
               |_| Rule 13d-1(d)


- ------------------

      (1)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 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 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 11 Pages

<PAGE>

- ----------------------------------                   ---------------------------
|  CUSIP NO. 90328W105           |   13G            |   Page  2 of 11 Pages    |
|            ---------           |                  |        ---     ---       |
- ----------------------------------                   ---------------------------

|--------|---------------------------------------------------------------------|
|   1    |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  President and Fellows of Harvard College                           |
|--------|---------------------------------------------------------------------|
|   2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [X]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   3    |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   4    |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  Massachusetts                                                      |
|-----------------|--------|---------------------------------------------------|
|                 |   5    |  SOLE VOTING POWER                                |
|                 |        |  1,549,400 shares                                 |
|     NUMBER OF   |--------|---------------------------------------------------|
|      SHARES     |   6    |  SHARED VOTING POWER                              |
|   BENEFICIALLY  |        |  --                                               |
|     OWNED BY    |--------|---------------------------------------------------|
|       EACH      |   7    |  SOLE DISPOSITIVE POWER                           |
|    REPORTING    |        |  1,549,400 shares                                 |
|      PERSON     |--------|---------------------------------------------------|
|       WITH      |   8    |  SHARED DISPOSITIVE POWER                         |
|                 |        |  --                                               |
|------------------------------------------------------------------------------|
|   9    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON       |
|        |                                                                     |
|        |  1,549,400 shares                                                   |
|--------|---------------------------------------------------------------------|
|  10    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ] |
|        |  SHARES*                                                            |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  11    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                  |
|        |  11.8%                                                              |
|--------|---------------------------------------------------------------------|
|  12    |  TYPE OF REPORTING PERSON*                                          |
|        |  EP                                                                 |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 2 of 11 Pages
3336236.01

<PAGE>

- ----------------------------------                   ---------------------------
|  CUSIP NO. 90328W105           |   13G            |   Page 3 of 11 Pages     |
|            ---------           |                  |       ---   --           |
- ----------------------------------                   ---------------------------

|--------|---------------------------------------------------------------------|
|   1    |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  The Harvard University Master Trust Fund                           |
|--------|---------------------------------------------------------------------|
|   2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [X]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   3    |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   4    |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  Massachusetts                                                      |
|-----------------|--------|---------------------------------------------------|
|                 |   5    |  SOLE VOTING POWER                                |
|                 |        |  51,100 shares                                    |
|     NUMBER OF   |--------|---------------------------------------------------|
|      SHARES     |   6    |  SHARED VOTING POWER                              |
|   BENEFICIALLY  |        |  --                                               |
|     OWNED BY    |--------|---------------------------------------------------|
|       EACH      |   7    |  SOLE DISPOSITIVE POWER                           |
|    REPORTING    |        |  51,100 shares                                    |
|      PERSON     |--------|---------------------------------------------------|
|       WITH      |   8    |  SHARED DISPOSITIVE POWER                         |
|                 |        |  --                                               |
|------------------------------------------------------------------------------|
|   9    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON       |
|        |                                                                     |
|        |  51,000 shares                                                      |
|--------|---------------------------------------------------------------------|
|  10    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ] |
|        |  SHARES*                                                            |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  11    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                  |
|        |  0.4%                                                               |
|--------|---------------------------------------------------------------------|
|  12    |  TYPE OF REPORTING PERSON*                                          |
|        |  EP                                                                 |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 3 of 11 Pages

<PAGE>


- ----------------------------------                   ---------------------------
|  CUSIP NO. 90328W105           |   13G            |     Page 4 of 11 Pages   |
|            ---------           |                  |         ---   --         |
- ----------------------------------                   ---------------------------

|--------|---------------------------------------------------------------------|
|   1    |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  John Stevens Trust                                                 |
|--------|---------------------------------------------------------------------|
|   2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [X]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   3    |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   4    |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  Massachusetts                                                      |
|-----------------|--------|---------------------------------------------------|
|                 |   5    |  SOLE VOTING POWER                                |
|                 |        |  300  shares                                      |
|     NUMBER OF   |--------|---------------------------------------------------|
|      SHARES     |   6    |  SHARED VOTING POWER                              |
|   BENEFICIALLY  |        |  --                                               |
|     OWNED BY    |--------|---------------------------------------------------|
|       EACH      |   7    |  SOLE DISPOSITIVE POWER                           |
|    REPORTING    |        |  300 shares                                       |
|      PERSON     |--------|---------------------------------------------------|
|       WITH      |   8    |  SHARED DISPOSITIVE POWER                         |
|                 |        |  --                                               |
|------------------------------------------------------------------------------|
|   9    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON       |
|        |                                                                     |
|        |  300 shares                                                         |
|--------|---------------------------------------------------------------------|
|  10    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ] |
|        |  SHARES*                                                            |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  11    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                  |
|        |  0.0%                                                               |
|--------|---------------------------------------------------------------------|
|  12    |  TYPE OF REPORTING PERSON*                                          |
|        |  EP                                                                 |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 4 of 11 Pages

<PAGE>


- ----------------------------------                   ---------------------------
|  CUSIP NO. 90328W105           |   13G            |     Page 5 of 11 Pages   |
|            ---------           |                  |         ---   --         |
- ----------------------------------                   ---------------------------

|--------|---------------------------------------------------------------------|
|   1    |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  Nancy Stevens Trust                                                |
|--------|---------------------------------------------------------------------|
|   2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [X]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   3    |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   4    |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  Massachusetts                                                      |
|-----------------|--------|---------------------------------------------------|
|                 |   5    |  SOLE VOTING POWER                                |
|                 |        |  700 shares                                       |
|     NUMBER OF   |--------|---------------------------------------------------|
|      SHARES     |   6    |  SHARED VOTING POWER                              |
|   BENEFICIALLY  |        |  --                                               |
|     OWNED BY    |--------|---------------------------------------------------|
|       EACH      |   7    |  SOLE DISPOSITIVE POWER                           |
|    REPORTING    |        |  700 shares                                       |
|      PERSON     |--------|---------------------------------------------------|
|       WITH      |   8    |  SHARED DISPOSITIVE POWER                         |
|                 |        |  --                                               |
|------------------------------------------------------------------------------|
|   9    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON       |
|        |                                                                     |
|        |  700 shares                                                         |
|--------|---------------------------------------------------------------------|
|  10    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ] |
|        |  SHARES*                                                            |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  11    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                  |
|        |  0.0%                                                               |
|--------|---------------------------------------------------------------------|
|  12    |  TYPE OF REPORTING PERSON*                                          |
|        |  EP                                                                 |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 5 of 11 Pages

<PAGE>

- ----------------------------------                   ---------------------------
|  CUSIP NO. 90328W105           |   13G            |     Page 6 of 11 Pages   |
|            ---------           |                  |         ---   --         |
- ----------------------------------                   ---------------------------

|--------|---------------------------------------------------------------------|
|   1    |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  Harvard College Trust                                              |
|--------|---------------------------------------------------------------------|
|   2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [X]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   3    |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   4    |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  Massachusetts                                                      |
|-----------------|--------|---------------------------------------------------|
|                 |   5    |  SOLE VOTING POWER                                |
|                 |        |  1,400 shares                                     |
|     NUMBER OF   |--------|---------------------------------------------------|
|      SHARES     |   6    |  SHARED VOTING POWER                              |
|   BENEFICIALLY  |        |  --                                               |
|     OWNED BY    |--------|---------------------------------------------------|
|       EACH      |   7    |  SOLE DISPOSITIVE POWER                           |
|    REPORTING    |        |  1,400 shares                                     |
|      PERSON     |--------|---------------------------------------------------|
|       WITH      |   8    |  SHARED DISPOSITIVE POWER                         |
|                 |        |  --                                               |
|------------------------------------------------------------------------------|
|   9    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON       |
|        |                                                                     |
|        |  1,400 shares                                                       |
|--------|---------------------------------------------------------------------|
|  10    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ] |
|        |  SHARES*                                                            |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  11    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                  |
|        |  0.0%                                                               |
|--------|---------------------------------------------------------------------|
|  12    |  TYPE OF REPORTING PERSON*                                          |
|        |  EP                                                                 |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 6 of 11 Pages

<PAGE>



                                  SCHEDULE 13G
                                  ------------

Item 1(a)   Name of Issuer:
                     U.S. Can Corporation

     1(b)   Address of Issuer's Principal Executive Offices:
                     900 Commerce Drive
                     Oak Brook, IL  60521

Item 2(a)   Name of Person Filing:
               (i)   President and Fellows of Harvard College ("P&F")
               (ii)  The Harvard University Master Trust Fund ("HUMT")
               (iii) John Stevens Trust ("JST")
               (iv)  Nancy Stevens Trust ("NST")
               (v)   Harvard College Trust ("HCT")

     2(b)   Address of Principal Business Office or, if none, Residence:
               (i)   P&F:     c/o  Harvard Management Company, Inc.
                                   600 Atlantic Avenue
                                   Boston, MA  02210

               (ii)  HUMT:         1350 Massachusetts Avenue
                                   Holyoke Center, Room 340
                                   Cambridge, MA  02138

               (iii) JST:     c/o Harvard Management Company, Inc.
                                   600 Atlantic Avenue
                                   Boston, MA  02210

               (iv)  NST:     c/o Harvard Management Company, Inc.
                                   600 Atlantic Avenue
                                   Boston, MA  02210

               (v)   HCT:     c/o Harvard Management Company, Inc.
                                   600 Atlantic Avenue
                                   Boston, MA  02210

     2(c)   Citizenship:
               (i)   P&F:     Massachusetts
               (ii)  HUMT:    Massachusetts
               (iii) JST:     Massachusetts
               (iv)  NST:     Massachusetts
               (v)   HCT:     Massachusetts



                               Page 7 of 11 Pages

<PAGE>



     2(d)   Title of Class of Securities:
                    Common Stock

     2(e)   CUSIP Number:
                    90328W105

Item 3   If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b):
         The entities filing are a Group, in accordance with
         Rule 13d-1(b)(1)(ii)(J).

Item 4   Ownership:

     4(a)   Amount beneficially owned:
               (i)   P&F:  1,549,400 shares
               (ii)  HUMT:    51,100 shares
               (iii) JST:        400 shares
               (iv)  NST:        700 shares
               (v)   HCT:      1,400 shares

     4(b)   Percent of Class:
               (i)   P&F:  11.8%
               (ii)  HUMT:  0.4%
               (iii) JST:   0.0%
               (iv)  NST:   0.0%
               (v)   HCT:   0.0%

     4(c) Number of shares as to which such person has:

               (i)   sole power to vote or to direct the vote:
                        (i)   P&F:  1,549,400 shares
                        (ii)  HUMT:    51,100 shares
                        (iii) JST:        400 shares
                        (iv)  NST:        700 shares
                        (v)   HCT:      1,400 shares

               (ii)  shared power to vote or to direct the vote:

                          ---------

               (iii) sole power to dispose or to direct the disposition of:
                        (i)   P&F:  1,549,400 shares
                        (ii)  HUMT:    51,100 shares
                        (iii) JST:        400 shares
                        (iv)  NST:        700 shares
                        (v)   HCT:      1,400 shares


                               Page 8 of 11 Pages

<PAGE>



               (iv)  shared power to dispose or to direct the disposition of:

                          --------

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:
                  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:
                  See Exhibit A.

Item 9   Notice of Dissolution of Group:
                  Not Applicable.

Item 10  Certification:

         By signing below the undersigned certifies that, to the best of its
         knowledge and belief, the securities referred to above were acquired
         and are held in the ordinary course of business and were not acquired
         and are not held for the purpose of or with the effect of changing or
         influencing the control of the issuer of the securities and were not
         acquired and are not held in connection with or as a participant in any
         transaction having that purpose or effect.


                               Page 9 of 11 Pages

<PAGE>



After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.

                                 PRESIDENT AND FELLOWS OF
                                 HARVARD COLLEGE


                                 By: /s/ Michael S. Pradko
                                     ---------------------
                                     Name:  Michael S. Pradko
                                     Title: Authorized Signatory


                                 THE HARVARD UNIVERSITY MASTER
                                 TRUST FUND


                                 By: /s/ Michael S. Pradko
                                     ---------------------
                                     Name:  Michael S. Pradko
                                     Title: Authorized Signatory


                                 JOHN STEVENS TRUST


                                 By: /s/ Michael S. Pradko
                                     ---------------------
                                     Name:  Michael S. Pradko
                                     Title: Authorized Signatory


                                 NANCY STEVENS TRUST


                                 By: /s/ Michael S. Pradko
                                     ---------------------
                                     Name:  Michael S. Pradko
                                     Title: Authorized Signatory


                                 HARVARD COLLEGE TRUST


                                 By: /s/ Michael S. Pradko
                                     ---------------------
                                     Name:  Michael S. Pradko
                                     Title: Authorized Signatory

October 7, 1998

                              Page 10 of 11 Pages

<PAGE>


                                    Exhibit A
                                    ---------


<TABLE>
<CAPTION>
      Members of Group                                        Item 3 Classification
      ----------------                                        ---------------------
<S>                                                                   <C>
(1)   President and Fellows of Harvard College                         EP

(2)   The Harvard University Master Trust Fund                         EP

(3)   John Stevens Trust                                               EP

(4)   Nancy Stevens Trust                                              EP

(5)   Harvard College Trust                                            EP
</TABLE>


                              Page 11 of 11 Pages


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