UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D/A2
Amendment No. 2
Under the Securities Exchange Act of 1934
INTERNATIONAL SPEEDWAY CORPORATION
(Name of Issuer)
CLASS A COMMON STOCK, $.01 PAR VALUE
(Title of Class of Securities)
460335201
(CUSIP Number)
STEPHEN L. FARLEY
FARLEY CAPITAL L.P.
655 THIRD AVENUE, SUITE 2520
NEW YORK, NEW YORK 10017
(212) 557-7776
(Name, address and telephone number of person
authorized to receive notices and communications)
January 26, 1998
(Date of event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13D,
and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box. [ ].
Check the following box if a fee is being paid with the statement [ ].
(A fee is not required only if the reporting 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.)
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
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 purposes 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 1 of 9 Pages
<PAGE>
13D/A2
CUSIP NO. 460335201
- ------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Labrador Partners L.P.
- ------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
- ------------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ---------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
465,700
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
465,700
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
465,700
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
8.8%
- ------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 9 Pages
<page
13D/A2
CUSIP No. 460335201
- ------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Farley Capital L.P.
- ------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS
00
- ------------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ---------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
63,600
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
63,600
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
63,600
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.2%
- ------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 9 Pages
<page
13D/A2
CUSIP NO. 460335201
- ------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Stephen L. Farley
- ------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------------------
(4) SOURCE OF FUNDS
AF
- ------------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ---------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
529,300
OWNED BY ---------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ---------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
529,300
- ------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
529,300
- ------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
10.0%
- ------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 9 Pages
<page
ITEM 1. SECURITY AND ISSUER.
This Amendment No. 2 (the "Amendment No. 2") amends the statement on
Schedule 13D (the "Statement") and amendment no. 1 thereto ("Amendment No. 1")
as filed with the Securities and Exchange Commission (the "Commission") by the
Reporting Persons named herein on December 10, 1997 and December 12, 1997,
respectively, relating to the Class A common stock, par value $.01 per share
("Class A Common Stock"), of International Speedway Corporation, a Florida
corporation (the "Issuer"), with its principal executive offices located at
1801 West International Speedway Blvd., Daytona Beach, Florida 32114.
Except as specifically provided herein, this Amendment does not
modify any of the information previously reported in the Statement or
Amendment No. 1.
* * *
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The aggregate number of shares of Class A Common Stock purchased and
the net investment cost of such Class A Common Stock is as follows:
Aggregate Number
of Shares of
Reporting Person Class A Common Stock Net Investment Cost
Labrador Partners L.P. 465,700 $10,263,314
Farley Capital L.P. 63,600 $1,407,962
The Class A Common Stock purchased by Labrador Partners was
purchased with its working capital. The Class A Common Stock purchased by
Farley Capital was purchased with the investment capital of each discretionary
account under its management.
A portion of the Class A Common Stock beneficially owned by Labrador
Partners and Farley Capital may be held in margin accounts at Goldman, Sachs &
Co. which may, from time to time, have debit balances. Since other securities
are held in such margin accounts, it is not possible to determine the amount
of margin, if any, used with respect to the purchases of the Class A Common
Stock. Currently, the interest rate charged on such margin accounts is 6.75%
per annum.
* * *
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The following is the aggregate amount of Class A Common Stock
that is beneficially owned by each Reporting Person:
Page 5 of 9 Pages
<PAGE>
Aggregate Number
of Shares of Percentage of
Name Class A Common Stock Class A Common Stock
Labrador Partners L.P. 465,700 8.8%
Farley Capital L.P. 63,600 1.2%
Farley does not directly own any Class A Common Stock. Pursuant to
Rule 13d-3 of the Securities Exchange Act of 1934, Farley may be deemed an
indirect beneficial owner of 529,300 shares of Class A Common Stock by virtue
of his position as managing general partner of Labrador Partners (465,700
shares) and Farley Capital (63,600 shares).
Associates does not beneficially own any Class A Common Stock.
In the aggregate, the Reporting Persons beneficially own a total
529,300 shares of Class A Common Stock, constituting 9.998959% of the
outstanding shares of Class A Common Stock of the Issuer.
The aggregate percentage of Class A Common Stock reported
beneficially owned by each person herein is based upon 5,293,551 Class A
Common Stock shares outstanding, which is the total number of Class A shares
of Common Stock outstanding as of August 31, 1997, as reflected in the
Issuer's quarterly report on Form 10-Q filed with the Commission for the
quarter ended August 31, 1997 (which is the most recent Form 10-Q on file).
(b) Each of Labrador Partners and Farley Capital have the power
to vote and dispose of the shares of Class A Common Stock beneficially owned
by them, which power may be exercised exclusively by Farley.
(c) The trading dates, number of shares of Class A Common Stock
purchased or sold and price per share for all transactions in the Class A
Common Stock by Labrador Partners and Farley Capital since December 10, 1997
(the date of the last filing of Schedule 13D by the Reporting Persons with
respect to the Class A Common Stock) are set forth in Schedule A and Schedule
B hereof. All such transactions were open market transactions effected
through over the counter transactions. During such period neither Farley nor
Associates entered into any transactions in the Class A Common Stock.
(d) Except as set forth above, no other person is known to have
the right to receive or the power to direct the receipt of dividends from, or
the proceeds from the sale of the Class A Common Stock.
(e) Not applicable.
* * * * *
Page 6 of 9 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of
each of the Reporting Persons, each such person or entity certifies that the
information set forth in this statement is true, complete and correct and
agrees that this statement is filed on behalf of each of them.
Dated: January 29, 1998
-----------
By: /s/ Steven L. Farley
--------------------------------------
Stephen L. Farley, individually and as
managing general partner of each of
Labrador Partners L.P. and Farley
Capital L.P.
Page 7 of 9 Pages
<PAGE>
Schedule A
----------
Labrador Partners L.P.
-------------------
Transactions in the Class A Common Stock
----------------------------------------
Price Per Share
Date of No. of Shares (Excluding
Transaction Purchased Commissions)
----------- ---------------- ---------------
12/08/97 4,000 $24.1250
12/16/97 3,000 23.8750
12/19/97 8,000 23.8750
12/24/97 2,000 23.9375
01/05/98 1,000 23.6250
01/05/98 1,000 23.8750
01/05/98 4,000 24.0000
01/05/98 1,000 23.6250
01/06/98 1,500 23.7500
01/06/98 3,500 23.5000
01/07/98 2,000 23.8750
01/07/98 1,000 23.7500
01/09/98 12,000 23.8750
01/09/98 3,000 23.7500
01/26/98 6,000 23.8750
01/26/98 9,000 23.8750
01/26/98 9,000 23.8750
01/27/98 4,000 23.8750
01/27/98 5,000 23.8750
01/27/98 2,700 23.3750
Page 8 of 9 Pages
<PAGE>
Schedule B
----------
Farley Capital L.P.
-------------------
Transactions in the Class A Common Stock
----------------------------------------
Price Per Share
Date of No. of Shares (Excluding
Transaction Purchased Commissions)
----------- ---------------- ---------------
12/11/97 1,100 $24.5000
12/11/97 1,100 24.5000
12/23/97 2,000 23.8750
12/23/97 200 23.8750
12/23/97 200 23.8750
01/05/98 400 23.7500
01/05/98 400 23.7500
01/08/98 500 23.7500
01/27/98 1,000 23.8750
01/27/98 4,300 23.6250
01/27/98 1,300 23.6250
Page 9 of 9 Pages
<PAGE>
