<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3 )
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)
April 28 , 1995
- ------------------------------------------------------------------------------
(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 7 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 1,344,600
----------------------
9 Sole Dispositive Power
-0-
----------------------
10 Shared Dispositive Power
1,344,600
----------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,344,600
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
______
/ /
-------
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
5.1%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
HC-PN
- --------------------------------------------------------------------------------
page 2 of 7 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 8 Shared Voting Power
Each
Reporting 1,344,600
-------------------------
Person With 9 Sole Dispositive Power
-0-
-------------------------
10 Shared Dispositive Power
1,344,600
-------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,344,600
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
___
/ /
-----
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
5.1%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
BD-PN
- --------------------------------------------------------------------------------
page 3 of 7 pages
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Item 5. Interest in Securities of the Issuer.
-------------------------------------
(a) The Goldman Sachs Group, L.P. and Goldman, Sachs & Co. have decreased their
beneficial ownership of common stock, to 1,344,600 shares (5.1%), by
selling 738,000 shares.
(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) See Schedule I for transactions that were effected during the past sixty
days. The transactions in the Common Stock were effected on the American
Stock Exchange and the Chicago Stock Exchange.
The total consideration (exclusive of commissions) for shares of Common
Stock during the past sixty days was $276,750.00.
(d) Not applicable.
(e) Not applicable.
page 4 of 7 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.
/s/ Jonathan L. Kolatch
By:__________________________________________
Name: Jonathan L. Kolatch
Title: General Partner
Dated: May 5, 1995
page 5 of 7 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.
/s/ Jonathan L. Kolatch
By:___________________________________________
Name: Jonathan L. Kolatch
Title: General Partner
Dated: May 5, 1995
page 6 of 7 pages
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Schedule I
----------
Trade Date 05-MAR-95 thru 03-MAY-95 check thru 03-MAY-95
<TABLE>
<CAPTION>
RR Account Account Name
Cusip Security Description
Type Ref. Num BLT X-Acct Purchased Sold Price TradeDate SettlDate
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
131380-20-6 CALTON INC NEW
AsOf 0501-015511-12 (22 ) 200,000 0 3/8 28-APR-95 05-MAY-95
AsOf 0501-015512-12 (22 ) 18,000 0 3/8 28-APR-95 05-MAY-95
AsOf 0501-015513-12 (42 ) 50,000 0 3/8 28-APR-95 05-MAY-95
AsOf 0501-015514-12 (42 ) 50,000 0 3/8 28-APR-95 05-MAY-95
AsOf 0501-015515-12 (42 ) 110,000 0 3/8 28-APR-95 05-MAY-95
AsOf 0501-015516-12 (42 ) 250,000 0 3/8 28-APR-95 05-MAY-95
AsOf 0501-015517-12 (42 ) 60,000 0 3/8 28-APR-95 05-MAY-95
(Totals 738,000)
---------------------------------------------------------------------
</TABLE>
End of Report - 7 trades reported.
page 7 of 7 pages
