GLATFELTER P H CO
SC 13G/A, 1994-02-14
PAPER MILLS
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<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549
                                  Schedule 13G
                   Under the Securities Exchange Act of 1934
                                Amendment No. 11

                            P.H. Glatfelter Company
______________________________________________________________________________
                                (Name of Issuer)

                                 Common Stock
______________________________________________________________________________
                         (Title of Class of Securities)

                                  377316104
______________________________________________________________________________
                                 (CUSIP Number)

Check the following box if a fee is being paid with this statement   
CUSIP No.  

    1)   Names of Reporting Persons S.S. or I.R.S. Identification Nos. of above
         persons
           PNC Bank Corp.  25-143-5979


    2)   Check the Appropriate Box if a Member of a Group (See Instructions)
         a) 
         b)

    3)   SEC USE ONLY


    4)   Citizenship or Place of Organization Pennsylvania


  Number of Shares             5) Sole Voting Power                   9,106,116
  Beneficially Owned     
  By Each Reporting
  Person With                  6) Shared Voting Power                 7,925,310


                               7) Sole Dispositive Power              9,043,588

                             
                               8) Shared Dispositive Power            7,969,152


    9)  Aggregate Amount Beneficially Owned by Each Reporting Person
                                                                     17,328,228


   10)   Check if the Aggregate Amount in Row (9) Excludes Certain Shares
          (See Instructions)


   11) Percent of Class Represented by Amount in Row (9)                 39.43


   12) Type of Reporting Person (See Instructions)                          HC



<PAGE>   2

                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549
                                  Schedule 13G
                   Under the Securities Exchange Act of 1934
                                Amendment No. 11

                            P.H. Glatfelter Company
______________________________________________________________________________
                                (Name of Issuer)

                                 Common Stock
______________________________________________________________________________
                         (Title of Class of Securities)

                                  377316104
______________________________________________________________________________
                                 (CUSIP Number)

Check the following box if a fee is being paid with this statement   
CUSIP No.  

    1)   Names of Reporting Persons S.S. or I.R.S. Identification Nos. of above
         persons
           PNC Bank, National Association, as trustee, executor, custodian and
           agent. 

    2)   Check the Appropriate Box if a Member of a Group (See Instructions)
         a) 
         b)

    3)   SEC USE ONLY


    4)   Citizenship or Place of Organization United States of America

  Number of Shares             5) Sole Voting Power                   9,105,589
  Beneficially Owned     
  By Each Reporting
  Person With                  6) Shared Voting Power                 7,925,310


                               7) Sole Dispositive Power              9,043,061

                             
                               8) Shared Dispositive Power            7,969,152


    9)  Aggregate Amount Beneficially Owned by Each Reporting Person
                                                                     17,276,847


   10)   Check if the Aggregate Amount in Row (9) Excludes Certain Shares
          (See Instructions)


   11) Percent of Class Represented by Amount in Row (9)                 39.31

   12) Type of Reporting Person (See Instructions)                          BK



<PAGE>   3

   Item 1(a) - Name of Issuer:
     P.H. Glatfelter Company, a Pennsylvania Corporation (the "Company")


   Item 1(b) - Address of Issuer's Principal Executive Officers:
    228 South Main Stret, Spring Grove, PA 17362


   Item 2(a) = Name of Person Filing:
    PNC Bank, National Association, as trustee, executor, custodian and agent;
    and its ultimate parent corporation, PNC Bank Corp., a Pennsylvania
    Corporation.

   Item 2(b) - Address of Principal Business Office, or if None, Residence:
    PNC Bank, NA.                                 PNC Bank Corp.
    c/o Howard I. Verbofsky, Managing Counsel     c/o William F. Strome,
    Broad and Chestnut Street                       Senior Vice President
    Philadelphia, PA 19101                        Fifth Avenue and Wood Street
                                                  Pittsburgh, PA 15222


    Item 2(c) - Citizenship:
     PNC Bank, N.A. - National Banking Association; PNC Bank Corp. -
     PA  corporation

    Item 2(d) - Title of Class of Securities:
     Common Stock, par value, $.01 per share (the "Common Stock"), of the
     Company 
    
    Item 2(e) - CUSIP No.:
     377316104
   
    Item 3 - Statement Filed Pursuant to Rule 13d-1(b) or Rule 13d-2(b):
      Parent holding company; Bank


<PAGE>   4


   Item 4 - Ownership:
     (a) Amount Beneficially Owned:
                                                                     17,328,228

     (b) Percent of Class:
                                                                         39.43

     (c) Number of shares to which such person has:
         (i) sole power to vote or to direct the vote                 9,106,116
        (ii) shared power to vote or to direct the vote               7,925,310
       (iii) sole power to dispose or to direct the disposition of    9,043,588
        (iv) shared power to dispose or to direct the disposition of  7,969,152


   Item 5 - Ownership of Five Percent of Less of a Class:
     Not Applicable

   Item 6 - Ownership of More than Five Percent on Behalf of Another Person:
     See Schedule A

   Item 7 - Identification and Classification of the Subsidiary Which Acquired
            the Security Being Reported on by the Parent Holding Company:
     The record holder of the shares is PNC Bank, National Association


   Item 8 - Identification and Classification of Members of the Group:
      Not applicable

   Item 9 - Notice of Dissolution of Group:
      Not applicable



<PAGE>   5
                                   Schedule A

                                P. H. Glatfelter



         Item 6 - Ownership of More Than Five Percent on Behalf of Another
                  Person

         The information contained in this statement relates to the shares of
         Common Stock that are held by PNC Bank, National Association, as
         trustee, executor, custodian or agent, or by other bank subsidiaries
         of PNC Bank Corp., acting in similar capacities (collectively, the
         "Shares). In accordance with Section 13d-3, certain of the Shares may
         be beneficially owned by more than one person. Of the Shares held in
         trusts, certain persons, including the settlors, trustees,
         beneficiaries and others named in the trust documents or documents
         ancillary thereto, may have the power to direct the receipt of
         dividends from, or the proceeds from the sale of, such Shares. As to
         the Shares that are held as executor, custodian or agent, certain
         persons, including account owners, have the power, under law or by
         contract, to direct the receipt of dividends from, or the proceeds
         from the sale of, such Shares. Notwithstanding the beneficial
         ownership of the Shares by several persons, the total number of Shares
         is 17,328,228.

         The following persons may have the power to direct the receipt of
         dividends from, or the proceeds from the sale of, a number of Shares
         that represents more than 5 % of the outstanding Common Stock.

           (a) Philip H. Glatfelter, III
               c/o P.H. Glatfelter Co.
               Spring Grove, PA 17362

         Philip H. Glatfelter, III is a co-trustee, along with PNC Bank,
         National Association, of 12 trusts holding an aggregate of 6,239,880
         Shares,2 and may be deemed to have shared voting and dispositive power
         as to such Shares. He also has a right to withdraw an aggregate of
         1,287,580 Shares from two trusts and a right to purchase an aggregate
         of 4,675,776 Shares from eight trusts. In addition, he has an annual
         noncumulative right to withdrawal equal to the greater of 5% or $5,000
         from two trusts holding an

         _________________
           
          1 PNC Bank, National Association, as Bank Constituent and Trust Agent
         (as defined in the Voting Trust Agreement (as defined below)), and PNC
         Bank Corp., as the parent of PNC Bank, National Association, also
         report their beneficial ownership as to 13,570,752 of the shares of
         Common Stock reported herein (the "Trust Shares") on a statement on
         Schedule 13D filed with the Securities and Exchange Commission. The
         Trust Shares are held by the P.H. Glatfelter Family Shareholders'
         Voting Trust established pursuant to agreement dated as of July 1,
         1993 (the "Voting Trust Agreement"). PNC Bank, National Association,
         as Bank Constituent and Trust Agent, and PNC Bank Corp. filed such
         Schedule 13D because PNC Bank, National Association, as Bank
         Constituent and Trust Agent, has certain powers under the Voting Trust
         Agreement that may be construed as voting power as to the Trust
         Shares. The Trust Shares are also included in this statement on
         Schedule 13G because they may be withdrawn from the Voting Trust by
         certain fiduciary trusts of which PNC Bank, National Association is a
         trustee or co-trustee, generally within 60 days. Such right of
         withdrawal may be deemed to continue the beneficial ownership of the
         Trust Shares by PNC Bank, National Association, as trustee or
         co-trustee of such fiduciary trusts, and PNC Bank Corp., as its parent
         corporation, that existed prior to the establishment of the Voting
         Trust.

          2 All of such Shares are Trust Shares (as defined in note 1).

          3 Philip H. Glatfelter, III serves as a co-trustee of one of these
         trusts. All of such Shares are Trust Shares (as defined in note 1).

          4 Philip H. Glatfelter, III serves as a co-trustee of two of these
         trusts. An aggregate of 1,600,872 of such Shares are Trust Shares (as
         defined in note 1).

<PAGE>   6
         aggregate of 88,316 Shares. 5


            (b) George H. Glatfelter
                R.D. #5 - Woodsend
                Spring Grove, PA 17362

         George H. Glatfelter is a co-trustee, along with PNC Bank, National
         Association, of five trusts holding an aggregate of 88,964 Shares,6
         and may be deemed to have shared voting and dispositive power as to
         all of such Shares. He also has a right to withdraw an aggregate of
         901,161 Shares from two trusts7 and a right to purchase an aggregate of
         3,806,352 Shares from six trusts.8 In addition, he has an annual,
         noncumulative right of withdrawal equal to the greater of 5% or $5,000
         from two trusts holding an aggregate of 88,316 Shares.9

         _________________________



           5 Philip H. Glatfelter, III serves as a co-trustee of both of these
         trusts. All of such Shares are Trust Shares (as defined in note 1).

           6 George H. Glatfelter serves as a co-trustee of four of these
         trusts. All of such Shares are Trust Shares (as defined in note 1).

           7 All of such Shares are Trust Shares (as defined in note 1).

           8 An aggregate of 731,448 of such Shares are Trust Shares (as
             defined in note 1).

           9 George H. Glatfelter serves as a co-trustee of both of these
             trusts. All of such Shares are Trust Shares.

<PAGE>   7


         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.



         February 14, 1994
         _____________________________________________________________________
         Date

         
         _____________________________________________________________________
         Signature

          /s/ Howard I. Verbofsky, Managing Counsel
         _____________________________________________________________________
         Name/Title





         _____________________________________________________________________
         Date



         _____________________________________________________________________
         Signature


         _____________________________________________________________________
         Name/Title


<PAGE>   8


         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.



          February 14, 1994
         _____________________________________________________________________
         Date


         _____________________________________________________________________
         Signature


         /s/ Michelle A. O'Donnell, Assistant Vice President and Assistant
             Regulatory Counsel
         _____________________________________________________________________
         Name/Title





         _____________________________________________________________________
         Date



         _____________________________________________________________________
         Signature



         _____________________________________________________________________
         Name/Title



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