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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No.: *
Name of Issuer: The Diana Corporation
Title of Class of Securities: Common Stock
CUSIP Number: 252790100
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Neil J. Weisman, c/o Chilmark Capital Corp., 139 West Saddle
River Road, Saddle River, New Jersey 07458; (201) 818-0404
(Date of Event which Requires Filing of this Statement)
February 21, 1997
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of
Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following line 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
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.: 252790100
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Neil J. Weisman
2. Check the Appropriate Box if a Member of a Group
a.
b.
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
United States of America
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
200,000
8. Shared Voting Power:
9. Sole Dispositive Power:
200,000
10. Shared Dispositive Power:
11. Aggregate Amount Beneficially Owned by Each Reporting Person
200,000
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares
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13. Percent of Class Represented by Amount in Row (11)
3.77%
14. Type of Reporting Person
IN
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The purpose of this Schedule 13D is to report the ownership of
Neil J. Weisman in the common stock (the "Shares") of The Diana
Corporation (the "Issuer") of ownership of more than 5% and then
subsequent transactions reducing the ownership to 3.77% of the
Shares outstanding.
Item 1. Security and Issuer
Class and Title of Security:
Common Stock
The name and address of the principal executive and
business office of the Issuer is:
The Diana Corporation
8200 W. Brown Deer Road
Milwaukee, WI 53223-1706
Item 2. Identity and Background
This statement is being filed on behalf of Neil J.
Weisman (the "Reporting Person"). The Reporting Person
is the general partner of Chilmark 21st Century Fund,
L.P, a Delaware limited partnership (the "Partnership"),
and has investment discretion over a managed account
(the "managed account").
The Reporting Person has not, during the last five
years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
The Reporting Person has not, during the last five
years, been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction which
resulted in a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws
or finding any violations with respect to such laws.
Neil J. Weisman is a citizen of the United States of
America.
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof, the Reporting Person is deemed to
beneficially own 200,000 Shares. All 200,000 Shares are
held by either the Partnership or the managed account.
All the Shares were purchased in open market
transactions. The Shares were purchased for an
aggregate purchase price of $1,455,584.43. The funds
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for the purchase of the Shares held in the Partnership
and the managed account have come from the working
capital of the Partnership or the managed account. No
funds were borrowed to purchase any of the Shares.
Item 4. Purpose of Transactions
The Shares deemed to be beneficially owned by the
Reporting Person were acquired for, and are being held
for, investment purposes. The Reporting Person has no
plan or proposal which relates to, or would result in,
any of the actions enumerated in Item 4 of the
instructions to Schedule 13D.
Item 5. Interest in Securities of Issuer
As of the date hereof, the Reporting Person is deemed to
be the beneficial owner of 200,000 Shares. Based on the
Issuer's filing on Form 10-Q on February 18, 1997, as of
February 15, 1997 there were 5,298,483 Shares
outstanding. Therefore, the Reporting Person is deemed
to beneficially own 3.77% of the outstanding Shares.
The Reporting Person has the power to vote, direct the
vote, dispose of or direct the disposition of all the
Shares that he is deemed to beneficially own. The
Reporting Person ceased to be the beneficial owner of
more that 5% of the outstanding Shares on February 25,
1997. All transactions in the Shares effected by the
Reporting Person during the sixty days prior to February
21, 1997 through the date of this filing were effected
in open-market transactions and are set forth in Exhibit
A hereto.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
The Reporting Person has no contract, arrangement,
understanding or relationship with any person with
respect to the Shares.
Item 7. Material to be Filed as Exhibits
A description of the transactions in the Shares
that were effected by the Reporting Person during
the 60 days prior to February 21, 1997 through the
date of this filing is filed herewith as Exhibit A.
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Signature
The undersigned, after reasonable inquiry and to
the best of his knowledge and belief, certify that the
information set forth in this statement is true, complete
and correct.
/s/Neil J. Weisman
______________________
Neil J. Weisman
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SCHEDULE OF TRANSACTIONS
Date Shares Purchased or (Sold) Price Per Share
____ ________________________ _______________
2/21/97 150,000 $8.4734
2/21/97 20,000 7.7888
2/21/97 41,300 8.07
2/21/97 31,500 7.82
2/21/97 27,200 7.945
2/24/97 42,500 8.3709
2/25/97 (112,500) 9.97946
01752001.AF4
