LIBERTY CORP
SC 13G/A, 1997-02-13
LIFE INSURANCE
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<PAGE>   1





                      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. 8)
                                            
                                       
                                       
                           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>   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                
                                             Frances M. McCreery
          ---------------------------------------------------------------------

  (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                                                     1,064,658
  SHARES               --------------------------------------------------------
  BENEFICIALLY         (6)     SHARED VOTING POWER                  
  OWNED BY                                                          7,200
  EACH                 --------------------------------------------------------
  REPORTING            (7)     SOLE DISPOSITIVE POWER               
  PERSON WITH                                                   1,064,658
                       --------------------------------------------------------
                       (8)     SHARED DISPOSITIVE POWER             
                                                                    7,200
                       --------------------------------------------------------

  (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON         
                                                                1,071,858
          ---------------------------------------------------------------------

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

          ---------------------------------------------------------------------

  (11)    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9           
                                                                      5.3%
          ---------------------------------------------------------------------

  (12)    TYPE OF REPORTING PERSON*
                                                                    IN
          ---------------------------------------------------------------------
                    *SEE INSTRUCTIONS BEFORE FILLING OUT!



                          PAGE   2   OF   4   PAGES
                               -----    -----      
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                       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:

                        Frances M. McCreery

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

                        3190 Roundwood Road, Daisy Hill
                        Chagrin Falls, Ohio   44022

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:                 1,071,858 shares

                (b)  Percent of Class:                                5.3%

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

                   (i) Sole Power to vote or direct the vote    1,064,658 shares

                  (ii) Shared power to vote or direct the vote      7,200 shares

                 (iii) Sole power to dispose or direct the
                                disposition of                  1,064,658 shares

                 (iv)  Shared power to dispose or direct
                               the disposition of                   7,200 shares


                Mrs. McCreery disclaims beneficial ownership of all the shares
shown above except the 1,064,658 shares as to which she has sole voting and
dispositive power.

                                                               Page 3 of 4 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) 6,400 shares (or .03%) are held by Mrs. McCreery and
her daughter, Gail Cooke, as trustees of a trust for the benefit of the son of
Mrs. McCreery's daughter (Gail Cooke). 
                      (b) 800 shares (or .01%) are held in trust for the 
benefit of Mrs. McCreery's husband. 

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 1, 1997                            /s/ Frances M. McCreery 
                                          --------------------------
                                                Frances M. McCreery






                                                             Page 4 of 4 Pages.



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