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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13-G
Under the Securities Exchange Act of 1934
(Amendment No. )
USAir Group, Inc.
(Name of Issuer)
Depository Shares, representing 1/00 Share of $437.50
Series B Convertible Cumulative Preferred Stock
(Title of Class of Securities)
911905-30-5
(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
reporting the 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 and
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).
SEC 1745 (2/92)
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Name of reporting person: Ryback Management Corporation
I.R.S. Identification No. of Above Entity 43-1615580
Check Appropriate Box if a member of a group*
3. SEC use only
4. Citizenship or Place of Organization
Michigan
Number of 5. Sole Voting Power
Shares 427,900 convertible preferred shares
(results in 1,066,541 common shares)
Beneficially 6. Shared Voting Power
Owned by
Each 7. Sole Dispositive Power
Reporting 427,900 convertible preferred shares
(results in 1,066,541 common shares)
Person With 8. Shared Dispositive Power
9. Aggregate Amount Beneficially owned by each reporting person:
427,900 convertible shares held by Lindner Dividend Fund
10. Check Box if the Aggregate amount in Row (9) excludes certain shares
11. Percent of Class Represented by Amount in Row (9)
10.69% of the now voting class of convertible stock (six quarterly dividend
payments are now deferred)
(Conversion will result in 1.68% of the outstanding common shares)
12. Type of Reporting Person
IA - Ryback Management Corporation IV - Lindner Investment Series Trust
sec 1745 (6-80)
SEE INSTRUCTION BEFORE FILLING OUT!
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SEC 13G
SECURITIES AND EXCHANGE COMMISSION
SCHEDULE 13g Amendment No.
Item 1(a) Name of Issuer:
USAir Group, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
2345 Crystal Drive, Arlington, VA 22227
Item 2(a) Name of Person Filing:
Ryback Management Corporation
Item 2(b) Address of Principal Business Office:
7711 Carondelet Ave., Box 16900, St. Louis, MO 63105
Item 2(c) Citizenship:
Michigan
Items 2(d) Title and Class of Securities:
Convertible Preferred Stock
Item 2(e) CUSIP:
911905-30-5 (preferred) 911905-10-7 (common)
Item 3) If this statement is filed pursuant to Rule 13d-1(b) or, 13d-2(b),
check whether the person filing is a:
[X] Investment Company registered under Section 8 of the Investment Company
Act ( LINDNER INVESTMENT SERIES TRUST)
[X] Investment Company Adviser registered under Section 203 of the
Investment Advisers Act of 1940 (RYBACK MANAGEMENT CORPORATION)
Item 4 Ownership:
The Shares listed below were held in a fiduciary capacity by
Ryback Management and/or Lindner Investment Series Trust
as of December 31, 1996:
(A) Amount beneficially owned: 427,900 convertible preferrred shares
held by Lindner Dividend Fund
(B) Percent of class: 10.69% of conv prf shares or 1.68% of common shares
(C) Number of shares as to which such subject COMPANY has:
(1)sole power to vote or direct to vote: 427,900 pfd
(1,066,541 common shares)
(2)sole power to dispose of or direct disposition of: 183,100 pfd
(1,066,541 common shares)
Instruction: For computation regarding securities which represent the right
to acquire an underlying security see Rule 13d-3(d)(1).
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Item 5. Ownership of Five Percent or Less of a Class
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Lindner Dividend Fund, a registered investment company, is the
holder of 10.69% of the depository shares representing 1/100 of
a share of the Series B Convertible Stock. The dividends on said
shares are now in arrears for six quarters, thus granting voting
rights to the holders. If the shares were converted however, it
would only result in 1.68% of the common stock.
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported On By the Parent Holding Company.
See Item 3
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the control
of the issuer of such securities and were not acquired in connection
with or as a participant in any transaction having such purposes or
effect.
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.
DATED: January 27, 1997
/S/ Eric E. Ryback, President
Ryback Management Corporation
Lindner Investment Series Trust
(314) 727-5305
