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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____)*
Friendly Ice Cream Corporation
(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
358497 10 5
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ X ].
(A fee is not required only if the filing 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).
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
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CUSIP NO. 358497 10 5
1. NAME OF REPORTING PERSON: Donald N. Smith
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: ###-##-####
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ] Not Applicable
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION: United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER: 705,807
6. SHARED VOTING POWER: 0
7. SOLE DISPOSITIVE POWER: 705,807
8. SHARED DISPOSITIVE POWER: 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 705,807
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
Not Applicable
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 9.5%
12. TYPE OF REPORTING PERSON: IN
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Item 1(a) Name of Issuer
Friendly Ice Cream Corporation
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(b) Address of Issuer's Principal Executive Offices:
1855 Boston Road
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Wilbraham, Massachusetts 01095
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Item 2(a) Name of Person Filing:
Donald N. Smith
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(b) Address of Principal Business Office:
1 Pierce Place, Suite 100 East
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Itasca, Illinois 60143
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(c) Citizenship:
United States
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(d) Title of Class of Securities:
Common Stock, $0.01 par value per share
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(e) CUSIP Number:
358497 10 5
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Item 3 Person Filing: Not Applicable. This Schedule 13G is being filed
pursuant to Rule 13d-1(c).
(a) ( ) Broker or Dealer registered under Section 15 of the Act
(b) ( ) Bank as defined in Section 3(a)(6) of the Act
(c) ( ) Insurance Company as defined in Section 3(a)(19) of the Act
(d) ( ) Investment Company registered under Section 8 of the
Investment Company Act
(e) ( ) Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
(f) ( ) Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund
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(g) ( ) Parent Holding Company, in accordance withss.240.13d-1 (b)(1)
(ii)(G)
(h) ( ) Group, in accordance withss.240.13d-1 (b)(1)(ii)(H)
Item 4 Ownership: (at December 31, 1997)
(a) Amount Beneficially Owned 705,807
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(b) Percent of Class 9.5%
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(i) sole power to vote or to direct the vote 705,807
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(ii) shared power to vote or to direct the vote 0
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(iii) sole power to dispose or to direct the
disposition of 705,807
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(iv) shared power to dispose or to direct the
disposition of 0
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Item 5 Ownership of Five Percent or Less of a Class: Not Applicable
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ] .
Item 6 Ownership of More than Five Percent on Behalf of Another Person
Not Applicable
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Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security being reported on by the Parent Holding Company.
Not Applicable
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Item 8 Identification and Classification of Members of the Group
Not Applicable
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Item 9 Notice of Dissolution of Group
Not Applicable
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Item 10 Certification
Not Applicable
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Signature
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.
* * * * * * * * *
Dated:February 10 , 1998 /s/ Donald N. Smith
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Signature
Donald N. Smith
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Name/Title
