LIBERTY CORP
SC 13G/A, 1996-02-13
LIFE INSURANCE
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<PAGE>   1

                                UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549
                                       

                                 SCHEDULE 13G
                                       
                                       
                                       
           INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                             (Amendment No. 13)*
                                            
                                       
                                       
                           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 8 pages
<PAGE>   2


CUSIP No. 530370 10 5              SCHEDULE 13G      Page  2     of   4    Pages
         ---------------------                           --------  -------- 

  (1)     Names of Reporting Persons                 
          S.S. or I.R.S. Identification Nos. of Above Persons                
          
          
          EDWARD FISHBURNE HIPP
          ----------------------------------------------------------------------

  (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                    

                       
  Number of            149,639
   Shares              ---------------------------------------------------------
 Beneficially          (6)     Shared Voting Power                  
  Owned by   
    Each               1,379,051
  Reporting            ---------------------------------------------------------
 Person With           (7)     Sole Dispositive Power               

                       149,639
                       ---------------------------------------------------------
                       (8)     Shared Dispositive Power             

                       1,379,051
                       ---------------------------------------------------------

  (9)     Aggregate Amount Beneficially Owned by Each Reporting Person         
          
          
          1,528,690
          ----------------------------------------------------------------------

 (10)     Check Box if the Aggregate Amount in Row (9) Excludes Certain
          Shares*                                                         [   ]
          ----------------------------------------------------------------------
 (11)     Percent of Class Represented by Amount in Row 9           

          7.6%
          ----------------------------------------------------------------------

 (12)     Type of Reporting Person*

          IN
          ----------------------------------------------------------------------
                    *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 2 of 8 pages

<PAGE>   3

                     SECURITIES AND EXCHANGE COMMISSION
                          Washington, D. C.  20549

                                SCHEDULE 13G
                  Under The Securities Exchange Act of 1934

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:

                                Edward Fishburne Hipp

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

                                3072 Little River Road
                                Hendersonville, NC  28739

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:                 1,528,690 shares

               (b)  Percent of Class:                                7.6%

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

                  (i)  Sole power to vote or direct the vote     149,639 shares

                 (ii)  Shared power to vote or direct the
                          vote                                 1,379,051 shares

                (iii)  Sole power to dispose or direct the
                          disposition                            149,639 shares

                 (iv)  Shared power to dispose or direct
                          the disposition                      1,379,051 shares

               Mr. Hipp disclaims beneficial ownership of all the shares shown
above except the 149,639 shares as to which he has sole voting and dispositive
power.

Item 5.        Ownership of Five Percent or Less of a Class:

                                Not applicable.

                                                               Page 3 of 4 Pages
<PAGE>   4

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)  1,097,012 shares (or 5.5%) are held by Wachovia Bank,
Greenville, South Carolina, as trustee for the benefit of Mr. Hipp's brothers
and sisters.  Mr. Hipp, Mr. Hipp's brothers and sisters and William R.
Patterson 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)  270,000 shares (or 1.3%) 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.

               (c)  5,759 shares (or .03%) are held by Mr. Hipp's wife and by
or for his minor children.

               (d)  6,280 shares (or .03%) are held by the Edward Fishburne
Hipp 1991 Family Trust for the benefit of his children.  Mr. Hipp's wife and
brother (H. Neel Hipp, Jr.) serve as Co-Trustees of the 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.

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.




February 9, 1996                            /s/ Edward Fishburne Hipp
                                      --------------------------------------
                                                Edward Fishburne Hipp


                                                               Page 4 of 4 Pages


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