SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF
1934
____________________
JG INDUSTRIES, INC.
(NAME OF ISSUER)
COMMON STOCK, NO PAR VALUE
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(TITLE OF CLASS OF SECURITIES)
466145 10 9
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(CUSIP NUMBER OF CLASS OF
SECURITIES)
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).
SCHEDULE 13G
CUSIP No. 466145 10 9
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Mid-Continent Capital, L.L.C., a
Delaware Limited
Liability Company
I.R.S. #36-4157405
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP
(a)
(b)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH PERSON WITH
5. SOLE VOTING POWER - 34,500
6. SHARED VOTING POWER - 0
7. SOLE DISPOSITIVE POWER - 34,500
8. SHARED DISPOSITIVE POWER - 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING
PERSON
34,500
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES
CERTAIN SHARES
11. PERCENT OF CLASS REPRESENTED BY AMOUNT ON
ROW (9)
3.3%
12. TYPE OF REPORTING PERSON - IA
ITEM 1(a). NAME OF ISSUER:
JG INDUSTRIES, INC.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE
OFFICES:
1615 WEST CHICAGO AVE
CHICAGO, IL 60622
ITEM 2(a). NAME OF PERSON FILING:
This Statement is being filed by:
Mid-Continent Capital, L.L.C.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
55 W. Monroe; Suite 3560
Chicago, IL 60603
ITEM 2(c). CITIZENSHIP:
See Item 4 of the Cover Page.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, no par value
ITEM 2(e). CUSIP NUMBER:
466145208
ITEM 3. INFORMATION IF STATEMENT IF BEING FILED PURSUANT
TO RULES 13d-1(b) OR
13d-2(b):
(e) [x] Investment Adviser registered under
section 203 of the
Investment Advisers Act of 1940.
ITEM 4. OWNERSHIP:
(a) 34,500 shares of Common Stock
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(Amount Beneficially Owned)
(b) 3.3%
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(Percent of Class)
(c) Number of shares as to which such person has:
(i) 34,500
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(sole power to vote or to direct the vote)
(ii) 0
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(shared power to vote or to direct the
vote)
(iii) 34,500
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(sole power to dispose or to direct the
disposition of)
(iv) 0
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(shared power to dispose or to direct the
disposition of)
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: 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.
|X|
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:
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable.
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.
MID-CONTINENT CAPITAL, L.L.C.
By: /s/ John D. Mabie
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Name: John D. Mabie
Title: Chairman
Dated: March 3, 1999
