<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
CALTON, INC.
----------------
(Name of Issuer)
Common Stock
------------------------------
(Title of Class of Securities)
131380206
---------------------------------------
(CUSIP Number)
Patricia A. Maher, Esq.
Goldman, Sachs & Co.
85 Broad Street
New York, New York 10004
(212) 902-0940
--------------------------------------------
(Name, address and telephone number of person authorized
to receive notices and communications)
May 13, 1994
-------------------------------------------------------
(Date of Event which requires Filing of this Statement)
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 box if a fee is being paid with this statement:
----
page 1 of 6 pages
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- -------------------------
CUSIP NO.
131380206
- ----------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a)
-----
(b)
-----
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
WC
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
----
/ /
-----
- --------------------------------------------------------------------------------
6. Citizenship or place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares
Beneficially -0-
Owned By ---------------------------------------------
Each 8 Shared Voting Power
Reporting
Person With 2,082,600
---------------------------------------------
9 Sole Dispositive Power
-0-
---------------------------------------------
10 Shared Dispositive Power
2,082,600
---------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,082,600
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
------
/ /
-------
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
8.9%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
HC-PN
- --------------------------------------------------------------------------------
page 2 of 6 pages
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- -------------------------
CUSIP NO.
131380206
- ----------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a)
-----
(b)
-----
- -------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
WC
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
___
/ X /
----
- -------------------------------------------------------------------------------
6. Citizenship or place of Organization
New York
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares
Beneficially -0-
Owned By ---------------------------------------------
Each 8 Shared Voting Power
Reporting
Person With 2,082,600
---------------------------------------------
9 Sole Dispositive Power
-0-
---------------------------------------------
10 Shared Dispositive Power
2,082,600
---------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,082,600
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
------
/ /
------
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
8.9%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
BD-PN
- -------------------------------------------------------------------------------
page 3 of 6 pages
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Item 5. Interest in Securities of the Issuer.
-------------------------------------
(a) The Goldman Sachs Group, L.P. and Goldman, Sachs & Co. may be deemed to
have decreased their beneficial ownership of common stock, to 2,082,600
shares (8.9%), as a result of the expiration of 366,210 warrants on
5/13/94.
(b) Each Filing Person shares the power to vote or direct the vote and to
dispose or to direct the disposition of shares of common stock
beneficially owned by such Filing Person as indicated in pages 2 and 3
above.
(c) Not applicable.
(d) Not applicable.
(e) Not applicable.
page 4 of 6 pages
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SIGNATURE
---------
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.
GOLDMAN, SACHS & CO.
By: /s/ Daniel J. Sullivan, Jr.
--------------------------------------
Name: Daniel J. Sullivan, Jr.
Title: General Partner
Dated: June 20, 1994
page 5 of 6 pages
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SIGNATURE
---------
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.
THE GOLDMAN SACHS GROUP, L.P.
By: /s/ Daniel J. Sullivan, Jr.
-------------------------------------
Name: Daniel J. Sullivan, Jr.
Title: General Partner
Dated: June 20, 1994
page 6 of 6 pages
