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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Annual Filing) - (Amendment No. 1)
Jersey Central Power & Light Company
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(Name of Issuer)
Preferred
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(Title of Class of Securities)
47655686
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(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).
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CUSIP No. 47655686 13G Page 2 of 5
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chancellor LGT Asset Management, Inc. (94-2259541) and Chancellor LGT
Trust Company (52-1576922), as Investment Advisers for various
fiduciary accounts and LGT Asset Management, Inc. (94-303766) as the
holding company for Chancellor LGT Asset Management, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/
(b) / /0
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Chancellor LGT Asset Management, Inc. - California
Chancellor LGT Trust Company - New York
LGT Asset Management, Inc. - California
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 42,050 shares
OWNED BY -------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
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7 SOLE DISPOSITIVE POWER
42,050 shares
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8 SHARED DISPOSITIVE POWER
- 0 -
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
42,050 shares
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.41 %
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12 TYPE OF REPORTING PERSON*
HC, BK, IA
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CUSIP: 47655686 Page 3 of 5
*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
Item 1. Security and Issuer
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(a) Jersey Central Power & Light Company (the "Company")
(b) Address: 300 Madison Avenue
Morristown, NJ 07960
Item 2. Identity and Background
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(a) This Schedule 13G is being filed by (i) Chancellor LGT Asset
Management, Inc., a California Corporation, whose principal business is
providing investment advisory services to registered investment companies and
institutional investors, (ii) its wholly owned subsidiary, Chancellor LGT Trust
Company, a New York State chartered trust company whose principal business is
providing institutional investment management services and (iii) LGT Asset
Management, Inc., the holding company for Chancellor LGT Asset Management, Inc.
Chancellor LGT Asset Management, Inc. is a wholly owned subsidiary of LGT Asset
Management, Inc. LGT Asset Management, Inc. is an indirect wholly owned
subsidiary of Liechtenstein Global Trust, AG. Liechtenstein Global Trust, AG
which has numerous worldwide affiliates is controlled by The Prince of
Liechtenstein Foundation, a parent organization for the various business
enterprises of the Princely Family of Liechtenstein.
(b) The address of the principal place of business of Chancellor
LGT Asset Management, Inc. and Chancellor LGT Trust Company is: 1166 Avenue of
the Americas, New York, New York 10036. The address of the principal place of
the holding company, LGT Asset Management, Inc. is 50 California Street, San
Francisco, CA 94111.
(c) Chancellor LGT Asset Management, Inc. is a California
Corporation. Chancellor LGT Trust Company is a New York State chartered trust
company. LGT Asset Management, Inc. is a California Corporation.
(d) Preferred Stock.
(e) CUSIP Number: 47655686
Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b), check
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whether the person filing is a:
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(h) /X/ Group, in accordance with Rule 13d-1(b)(i)(ii)(H).
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CUSIP: 47655686 Page 4 of 5
Item 4. Ownership
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(a) For the month ended December 31, 1997, the aggregate number of
shares of the Company's preferred stock beneficially owned by Chancellor LGT
Asset Management, Inc. and Chancellor LGT Trust Company, as investment advisers
for various fiduciary accounts and LGT Asset Management, Inc., as the holding
company is 42,050 shares.
(b) Percent of Class: 8.41 based upon 500,000 shares outstanding.
(c) Chancellor LGT Asset Management, Inc. and Chancellor LGT Trust
Company, as investment advisers for various fiduciary accounts, have sole power
to vote or to direct to vote, and sole power to dispose of or to direct the
disposition of, all of the shares reported in this statement. Chancellor LGT
Asset Management, Inc. is a wholly owned subsidiary of LGT Asset Management,
Inc. LGT Asset Management, Inc. is an indirect wholly owned subsidiary of
Liechtenstein Global Trust, AG. Liechtenstein Global Trust, AG which has
numerous worldwide affiliates is controlled by The Prince of Liechtenstein
Foundation, a parent organization for the various business enterprises of the
Princely Family of Liechtenstein.
Item 5. Ownership of Five Percent or Less
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Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
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Chancellor LGT Asset Management, Inc. and Chancellor LGT Trust Company
are investment advisers for various fiduciary accounts which are entitled to
receipt of dividends and to proceeds of the sale of the shares reported in this
Statement. The ownership interest of any such account does not relate to more
than five percent of the Preferred Stock.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
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Securities Being Reported by the Parent Holding Company
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Not applicable.
Item 8. Identification and Classification of Members of a Group
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See attached Exhibit I.
Item 9. Notice of Dissolution of Group
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Not applicable.
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CUSIP: 47655686 Page 5 of 5
Item 10. Certification
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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.
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 25, 1998
Signatures:
Chancellor LGT Asset Management, Inc.
as Investment Adviser
By:/s/ Roberta Moore
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Roberta Moore
Chancellor LGT Trust Company
as Investment Adviser
By:/s/ Roberta Moore
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Roberta Moore
LGT Asset Management, Inc.
as Holding Company
By:/s/ Roberta Moore
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Roberta Moore
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Exhibit I
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Item 3
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(b) /X/ Bank as defined in Section 3(a)(b) of the Act
Chancellor LGT Trust Company
(c) /X/ Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940.
Chancellor LGT Asset Management, Inc.
