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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Boucher Thomas O'Neil, Jr.
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(Last) (First) (Middle)
Ingalls & Snyder LLC
61 Broadway
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(Street)
New York NY 10006
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
11/30/98
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
JETRONIC INDUSTRIES, INC. JET
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ X ] Director **** [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
11/98
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7. Individual or Joint/Group Filing (Check applicable line)
[X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
COMMON STOCK 1306 I
HELD BY ISVP **
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v)
** REPRESENTS BOUCHER'S BENEFICIAL INTEREST IN SECURITIES OWNED BY INGALLS
& SNYDER VALUE PARTNERS ("ISVP"). BOUCHER IS A GENERAL PARTNER OF ISVP.
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 4 of 5
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
AA Convert. Pref. Stock 11/04/98 01/01/03 Common Stock
6130 1/1 I ISVP***
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</TABLE>
Explanation of Responses:
***REPRESENTS BOUCHER'S BENEFICIAL INTEREST IN THE PREFERRED STOCK OF ISVP.
**** In November 1998, the Reporting Person was nominated by Ingalls &
Snyder Value Partners L.P. ("ISVP") for election to the Board of Directors
(the "Board") of the Issuer pursuant to its right to elect such directors
in accordance with the terms of the Series AA Preferred Stock owned by ISVP.
To date, the Reporting Person has not been elected to the Board and has never
attended or otherwise participated or had access to the deliberations and
decisional processes and meetings of the Board. By letter da
ted July 30, 1999, delivered to the Board, ISVP withdrew its request t
nominate the Reporting Person to the Board. The Reporting Person, as
general partner of ISVP, shares the right to elect three directors
to the Board.
/Thomas O. Boucher, Jr./ 10/01/99
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.
Alternatively, this form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
Page 4 of 4
(122795DTI)
