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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. 2)*
General Housewares Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
370073108
-------------------
(CUSIP Number)
*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 ("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 13G
CUSIP No. 370073108 Page 2 of 6 Pages
--------- --------- ---------
- --------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Investment Counselors of Maryland, Inc.
- --------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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5 SOLE VOTING POWER
195,000
NUMBER OF
SHARES ------ --------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY --
EACH
REPORTING ------ --------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 285,000
------ --------------------------------------------
8 SHARED DISPOSITIVE POWER
--
- --------- ----------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
285,000
- --------- ----------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.0%
- --------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13G
CUSIP No. 370073108 Page 3 of 6 Pages
--------- --------- ---------
Item 1(a) Name of Issuer:
General Housewares Corporation
(b) Address of Issuer's Principal Executive Offices:
1536 Beech Street
Terre Haute, Indiana 47804
Item 2(a): Name of Person Filing:
Investment Counselors of Maryland, Inc.
(b) Address of Principal Business Office or, if none, Residence:
803 Cathedral Street
Baltimore, Maryland 21201-5297
(c) Citizenship:
Maryland
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number:
370073108
Item 3: Capacity in Which Person is Filing:
[x] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
<PAGE>
CUSIP No. 370073108 Page 4 of 6 Pages
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Item 4: Ownership:
As of December 31, 1996:
(a) Amount Beneficially Owned:
285,000
(b) Percent of class:
7.0%
(c) Number of shares to which such person has:
(i) Sole power to vote or to direct the vote:
195,000
(ii) Shared power to vote or to direct the vote:
None
(iii) Sole power to dispose or to direct the disposition
of:
285,000
(iv) Shared power to dispose or to direct the disposition
of:
None
Item 5: Ownership of Five Percent or Less of Class:
Not applicable.
<PAGE>
CUSIP No. 370073108 Page 5 of 6 Pages
--------- --------- ---------
Item 6: Ownership of More than Five Percent on Behalf of Another Person:
All of the shares of Common Stock set forth in Item 4 are owned by
various investment advisory clients of Investment Counselors of
Maryland, Inc., which is deemed to be a beneficial owner of those
shares pursuant to Rule 13d-3 under the Securities Exchange Act of
1934, due to its discretionary power to make investment decisions over
such shares for its clients and its ability to vote such shares. In all
cases, persons other than Investment Counselors of Maryland, Inc. have
the right to receive, or the power to direct the receipt of, dividends
from, or the proceeds from the sale of the shares. No individual client
holds more than five percent of the class.
Item 7: Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company:
Not applicable.
Item 8: Identification and Classification of Members of the Group:
Not applicable.
Item 9: Notice of Dissolution of Group:
Not applicable.
<PAGE>
CUSIP No. 370073108 Page 6 of 6 Pages
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Item 10: Certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer of
such securities and were not acquired in connection with or as a
participant in any transaction having such purposes or effect.
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.
Date: February 14, 1997
INVESTMENT COUNSELORS OF
MARYLAND, INC.
By: /s/ Robert D. McDorman, Jr.
----------------------------------
Robert D. McDorman, Jr.
Principal
<PAGE>
HOGAN & HARTSON L.L.P.
Columbia Square
555 Thirteenth Street, N.W.
Washington, D.C. 20004-1109
(202) 637-5600
February 14, 1997
BY ELECTRONIC DELIVERY
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: General Housewares Corporation
Schedule 13G
Amendment No. 2
Gentlemen:
On behalf of Investment Counselors of Maryland, Inc., I am
forwarding for filing with the Commission in electronic format pursuant to
Regulation S-T, one complete copy of Amendment No. 2 to Schedule 13G relating to
the securities of General Housewares Corporation.
Sincerely,
/s/ Joseph G. Connolly, Jr.
Joseph G. Connolly, Jr.
Enclosure
