LIBERTY CORP
SC 13G/A, 1994-02-14
LIFE INSURANCE
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<PAGE>   1

                
                                UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549
                                      
                                SCHEDULE 13G
                                      
                  Under the Securities Exchange Act of 1934
                           (Amendment No.  11    )*
                                      
                           THE LIBERTY CORPORATION
                 -------------------------------------------
                               (Name of Issuer)
                                      
                                 COMMON STOCK
                 -------------------------------------------
                        (Title of Class of Securities)
                                      
                                 530370 10 5
                          -------------------------
                                (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).



                              Page 1 of 5 Pages



<PAGE>   2
<TABLE>
<CAPTION>

CUSIP NO. 530370 10 5            13G
                                                                               Page 2 of 5 Pages
<S>                                                                                   <C>
    1      NAME OF REPORTING PERSON
           S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                   H. NEEL HIPP, JR.


    2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                         
                                                                                      (a) /  /
                                                                                      (b) /X /
                                                                                     
    3      SEC USE ONLY                                                                      




    4      CITIZENSHIP OR PLACE OF ORGANIZATION

                   UNITED STATES OF AMERICA


                      5     SOLE VOTING POWER

                                        99,598
     NUMBER OF
      SHARES
   BENEFICIALLY       6     SHARED VOTING POWER
     OWNED BY
       EACH                          1,549,400
     REPORTING
      PERSON          7     SOLE DISPOSITIVE POWER
       WITH
                                        99,598


                      8     SHARED DISPOSITIVE POWER

                                     1,549,400


    9      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                     1,648,998

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




    11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                                     8.5%


    12     TYPE OF REPORTING PERSON*

                                     IN
</TABLE>
                                        *SEE INSTRUCTIONS BEFORE FILLING OUT!

                                                 Page 2 of 5 pages

<PAGE>   3
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C.  20549

                                 SCHEDULE 13G
                   Under The Securities Exchange Act of 1934


<TABLE>
<S>            <C>
Item 1(a).     Name of Issuer:

                                The Liberty Corporation

Item 1(b).     Address of Issuer's Principal Executive Offices:

                                2000 Wade Hampton Boulevard
                                Greenville, South Carolina  29615

Item 2(a).     Name of Person Filing:

                                H. Neel Hipp, Jr.

Item 2(b).     Address of Principal Business Office or, If None, Residence:

                                2000 Wade Hampton Boulevard
                                Greenville, South Carolina  29615

Item 2(c).     Citizenship:

                                United States of America

Item 2(d).     Title of class of securities:

                                Common Stock

Item 2(e).     CUSIP Number:

                                530370-10-5

Item 3.                 Not Applicable

Item 4.                 Ownership:

                        (a) Amount Beneficially Owned:                     1,648,998 shares

                        (b) Percent of Class:                                    8.5%

                        (c) Number of shares as to which
                            such person has:

                          (i)   Sole power to vote or direct the vote         99,598

                         (ii)   Shared power to vote or direct the
                                vote                                       1,549,400

                        (iii)   Sole power to dispose or direct the
                                disposition                                   99,598

                         (iv)   Shared power to dispose or direct
                                the disposition                            1,549,400
</TABLE>


                        Mr. Hipp disclaims beneficial ownership of all the
shares shown above except the 99,598 shares as to which he has sole voting and
dispositive power.
                                                               Page 3 of 5 Pages
<PAGE>   4
Item 5.                 Ownership of Five Percent or Less of a Class:
                                Not applicable.

Item 6.                 Ownership or More than Five Percent on Behalf of
                        Another Person:

                        The shares shown in Item 4(ii) and (iv) above are held
by persons or entities having the right to receive dividends and sale proceeds
as follows:

                        (a)  1,098,212 shares (or 5.6%) are held by The South
Carolina National Bank, Greenville, South Carolina, as trustee for the benefit
of Mr. Hipp's brothers and sisters.  Mr. Hipp and Mr. Hipp's brothers and
sisters are the committeemen for these trusts and must approve the action of
the trustee taken with respect to the voting and disposition of shares held in
the trusts but not action with respect to distribution of dividends or sale
proceeds, which may be accumulated or distributed to the beneficiaries.

                        (b)  73,097 shares (or .4%) are held by Mr. Hipp's wife
and by or for his minor children.

                        (c)  270,000 shares (or 1.4%) are held by the Jane F.
Hipp Children's Ten-Year Grantor Income Trust, the Jane F. Hipp Children's
Twelve-Year Grantor Income Trust, and the Jane F. Hipp Grandchildren's 1987
Ten-Year Grantor Income Trust.  Mr. Hipp is a trustee of each trust.

                        (d)  108,091 shares (or .6%) are held by the Herman N.
Hipp First Foundation, the H. Neel Hipp, Jr.  Children's 1987 Fifteen-Year
Grantor Income Trust, the H. Neel Hipp, Jr. 1987 Family Trust, the Mary Haddow
Family 1988 Trust, the William Hipp Family 1988 Trust, the Jane Gage Hipp
Caulder 1990 Family Trust, the Edward Fishburne Hipp 1991 Family Trust and the
Jane F. Hipp Family Trust FBO H. N. Hipp, Jr. Family.  Mr. Hipp is a trustee of
each foundation and trust.

Item 7.                 Identification and Classification of the Subsidiary
                        Which Acquired the Security Being Reported on By the 
                        Parent Holding Company:

                                Not applicable.

Item 8.                 Identification and Classification of Members of the
                        Group:

                                Not applicable.





                                                               Page 4 of 5 Pages
<PAGE>   5
Item 9.                 Notice of Dissolution of the Group:

                                Not applicable.

Item 10.                Certification:

                        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.




                                      /s/ H. Neel Hipp, Jr.
February 14, 1994                     ------------------------
                                      H. Neel Hipp, Jr.





                                                              Page 5 of 5 Pages.


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