AMERICAN GENERAL CORP /TX/
SC 13G, 1994-02-10
LIFE INSURANCE
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                               UNITED STATES                                          OMB APPROVAL
                    SECURITIES AND EXCHANGE COMMISSION                         OMB Number:        3235-0145
                          WASHINGTON, D.C.  20549                              Expires:    October 31, 1994
                                                                               Estimated average burden
                               SCHEDULE 13G                                    hours per response . . 14.90

                 UNDER THE SECURITIES EXCHANGE ACT OF 1934

                            (AMENDMENT NO.  )*




                          AMERICAN GENERAL CORP.
                          ----------------------
                             (Name of Issuer)

                                  COMMON
                       ----------------------------

                      (Title of Class of Securities)

                                 026351106
                              --------------
                              (CUSIP Number)

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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).





SEC 1745 (2/92)                  Page 1 of 4 pages
<PAGE>   2
CUSIP No. 026351106                     13G                 Page 2 OF 4 PAGES


       NAME OF REPORTING PERSON
   1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
       THE CAPITAL GROUP, INC.
       86-0206507


       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   2                                                          (a) [ ]
                                                              (b) [ ]

       SEC USE ONLY
   3



       CITIZENSHIP OR PLACE OF ORGANIZATION
   4
       DELAWARE


                                   SOLE VOTING POWER
                              5
         NUMBER OF                 NONE

          SHARES              -------------------------------------------
                                   SHARED VOTING POWER
       BENEFICIALLY           6
                                   NONE
         OWNED BY
                              -------------------------------------------
           EACH                    SOLE DISPOSITIVE POWER
                              7
         REPORTING                 11,262,000

          PERSON              -------------------------------------------
                                   SHARED DISPOSITIVE POWER
           WITH               8
                                   NONE


       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   9
       11,262,000  Beneficial ownership disclaimed pursuant to Rule 13d-4


       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
  10



       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  11
       5.20%


       TYPE OF REPORTING PERSON*
  12
       HC



                      *SEE INSTRUCTION BEFORE FILLING OUT!





                               Page 2 of 4 pages
<PAGE>   3
CUSIP No. 026351106                  13G                     Page 3 OF 4 PAGES


       NAME OF REPORTING PERSON
   1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
       CAPITAL RESEARCH AND MANAGEMENT COMPANY
       95-1411037


       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   2                                                        (a) [ ]
                                                            (b) [ ]

       SEC USE ONLY
   3



       CITIZENSHIP OR PLACE OF ORGANIZATION
   4
       DELAWARE


                                   SOLE VOTING POWER
                              5
         NUMBER OF                 NONE

          SHARES              -------------------------------------------
                                   SHARED VOTING POWER
       BENEFICIALLY           6
                                   NONE
         OWNED BY
                              -------------------------------------------
           EACH                    SOLE DISPOSITIVE POWER
                              7
         REPORTING                 11,262,000

          PERSON              -------------------------------------------
                                   SHARED DISPOSITIVE POWER
           WITH               8
                                   NONE
                              -------------------------------------------

       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   9
       11,262,000  Beneficial ownership disclaimed pursuant to Rule 13d-4


       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
  10

       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  11
       5.20%


       TYPE OF REPORTING PERSON*
  12
       IA



                      *SEE INSTRUCTION BEFORE FILLING OUT!





                               Page 3 of 4 pages
<PAGE>   4
                                                                        Page 4
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC  20549

                                  Schedule 13G
                   Under the Securities Exchange Act of 1934



Fee enclosed [x]  or Amendment No.

Item 1(a)   Name of Issuer:
            American General Corp.
            -----------------------
Item 1(b)   Address of Issuer's Principal Executive Offices:
            2929 Allen Parkway
            ------------------
            Houston, TX  77019
            ------------------
Item 2(a)   Name of Person(s) Filing:
            The Capital Group, Inc. and Capital Research and 
            ------------------------------------------------
            Management Company
            ------------------
Item 2(b)   Address of Principal Business Office:
            333 South Hope Street
            ---------------------
            Los Angeles, CA  90071
            ----------------------
Item 2(c)   Citizenship:   N/A 
                           ---
Item 2(d)   Title of Class of Securities:  Common
                                           ------
Item 2(e)   CUSIP Number:  026351106
          
Item 3      The person(s) filing is(are):
          
            (b)  [ ]  Bank as defined in Section 3(a)(6) of
                      the Act.
            (e)  [x]  Investment Adviser registered under 
                      Section 203 of the Investment 
                      Advisers Act of 1940.
            (g)  [x]  Parent Holding Company in accordance 
                      with Section 240.13d-1(b)(1)(ii)(G).
                    
Item 4      Ownership
          
            (a)   Amount Beneficially Owned:
                  See item 9, pg. 2 and 3
                  -----------------------
            (b)   Percent of Class:  See item 11, pg. 2 and 3
                                     ------------------------
            (c)   Number of shares as to which such person has:
                  i)    sole power to vote or to direct the 
                        vote  See item 5, pg. 2 and 3
                              -----------------------
                  ii)   shared power to vote or to direct the
                        vote  None
                              ----
                  iii)  sole power to dispose or to direct 
                        the disposition of  See item 7,
                                            -----------
                        pg. 2 and 3
                        -----------
                  iv)   shared power to dispose or to direct 
                        the disposition of None
                                           ----
                        beneficial ownership disclaimed
                        -------------------------------
                        pursuant to Rule 13d-4
                        ----------------------
          
Item 5      Ownership of 5% or Less of a Class:  N/A
                                                 ---
Item 6      Ownership of More than 5% on Behalf of Another Person:  N/A
                                                                    ---
Item 7      Identification and Classification of the Subsidiary Which
            ---------------------------------------------------------
            Acquired the Security Being Reported on By the Parent Holding
            -------------------------------------------------------------
            Company
            -------
            (1)  Capital Research and Management Company is an 
                 Investment Adviser registered under Section 203
                 of the Investment Advisers Act of 1940 and is a 
                 wholly owned subsidiary of The Capital Group,
                 Inc.
                
Item 8      Identification and Classification of Members of the Group: N/A
                                                                       --- 
          
Item 9      Notice of Dissolution of the Group:  N/A 
                                                 --- 
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 purpose 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 11, 1994


Signature:       /s/ Philip de Toledo                                        
                 -------------------------------------------------------------
Name/Title:      Philip de Toledo, Vice President and Treasurer      
                 -------------------------------------------------------------
                 The Capital Group, Inc.                       
                 -------------------------------------------------------------

Date:  February 11, 1994

Signature:       /s/ Paul G. Haaga, Jr.                        
                 -------------------------------------------------------------
Name/Title:      Paul G. Haaga, Jr., Senior Vice President     
                 -------------------------------------------------------------
                 Capital Research and Management Company       
                 -------------------------------------------------------------
<PAGE>   5
                                         AGREEMENT



                                         Los Angeles, California
                                         February 11, 1994


                 Capital Research and Management Company ("CRMC") and The
Capital Group, Inc. ("CG") hereby agree to file a joint statement on Schedule
13G under the Securities Exchange Act of 1934 (the "Act") in connection with
their beneficial ownership of common stock issued by American General Corp.

                 CRMC and CG state that they are both entitled to individually
use Schedule 13G pursuant to Rule 13d-1(c) of the Act.

                 Both CRMC and CG are responsible for the timely filing of the
statement and any amendments thereto, and for the completeness and accuracy of
the information concerning each of them contained therein but neither is
responsible for the completeness or accuracy of the information concerning the
other.

                                      CAPITAL RESEARCH AND MANAGEMENT COMPANY



                                      BY:   /s/ Paul G. Haaga, Jr.    
                                            -------------------------------
                                              Paul G. Haaga, Jr.
                                              Senior Vice President


                                      THE CAPITAL GROUP, INC.



                                      BY:   /s/ Philip de Toledo                
                                            -------------------------------
                                              Philip de Toledo
                                              Vice President and Treasurer




                                   EXHIBIT A







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