UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Act of 1934
Harter Financial, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
416225 10 0
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(CUSIP Number)
Harter Financial, Inc.
Box 338 Village Road
New Vernon, New Jersey 07976
Attn: Spencer J. Angel,
(201) 734-0100
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
May 15, 1997
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Date of Event Which Requires Filing of This Statement
If the filing person has previously filed a statement on 13G to report the
acquisition which is the subject of this Schedule 13D, and is filing the
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 the statement [ ]. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more that 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 of less of such
class.) (See Rule 13d-7.)
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SCHEDULE 13D
CUSIP No. 416225 10 0 Page 2 of 5 Pages
1 NAME OF REPORTING PERSON Joshua J. Angel
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X ]
3 SEC USE ONLY
4 SOURCE OF FUNDS - PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d)or 2(e)[ ]
NUMBER OF 6 CITIZENSHIP OR PLACE OR ORGANIZATION - United States
of America
SHARES
BENEFICIALLY 7 SOLE VOTING POWER - 331,157
OWNED BY
8 SHARED VOTING POWER - 3,947,368
EACH
REPORTING 9 SOLE DISPOSITIVE POWER - 331,157
PERSON
WITH 10 SHARED DISPOSITIVE POWER - 3,947,368
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -
Direct 331,157
Indirect 3,947,368
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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SCHEDULE 13D
CUSIP No. 416225 10 0 Page 3 of 5 Pages
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) - Direct 3.72%
Indirect 44.32%
14 TYPE OF REPORTING PERSON - IN
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Page 4 of 5 Pages
Item 1. Security and Issuer
This Schedule 13D relates to the common shares of Harter Financial, Inc.
("Harter"). Harter has its principal executive offices at:
Harter Financial, Inc.
Box 338 Village Road
New Vernon, New Jersey 07976
Item 2. Identity and Background
(a) Joshua J. Angel
(b) 9 East 79th Street
New York, New York 10021
(c) Senior partner of Angel & Frankel, P.C., 460 Park Avenue, New York,
New York and Chairman of the Board of Harter Financial, Inc. located at
address set forth in Item 1 hereinabove.
(d) During the last five (5) years Joshua J. Angel has not been
convicted in a criminal proceeding.
(e) During the last five (5) years Joshua J. Angel has not been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction in which he was subject to a judgement, decree or final order
enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with
respect to such laws.
(f) Joshua J. Angel is a citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration
No monetary consideration was paid for the shares directly owned by Mr.
Angel. Mr. Angel was given those shares for services performed by him in
conjunction with his duties as Chairman of the Board during the
reorganization of the Company.
Item 4. Purpose of Transaction
The securities are being acquired for investment purposes. The
reporting person has no plans or proposals to engage in any transactions
involving the Company or the securities of the Company as set forth in Items
4 (a) - (j) of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) As at August 28, 1997 the reporting person directly owned 331,157
or 3.72% of the class of securities identified in Item 1 hereinabove. As at
August 28, 1997 the reporting person indirectly owned 3,947,368 shares or
44.32% of the class of securities identified in Item 1 hereinabove. The
shares in which the reporting person has an indirect interest are owned by
Rita Angel, his wife.
(b) As at August 28, 1997 the reporting person had sole power to vote
and direct power to vote and sole power to dispose and direct the disposition
of 331,157 shares of the class of securities identified in Item 1
hereinabove. As at August 28, 1997 the reporting person had shared power to
vote or direct the vote or shared power to dispose or direct the disposition
of 3,947,368 shares of securities identified in Item 1 hereinabove.
The reporting person has shared power to vote or direct the vote or shared
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Page 5 of 5 Pages
power to dispose or direct the disposition of 3,947,368 shares of securities
identified in Item 1 hereinabove with his wife Rita Angel. Mrs. Angel
resides at 9 East 79th Street, New York, New York and is the office manager
of Angel & Frankel, P.C. The reporting person disclaims all beneficial
interest in Mrs. Angel's shares.
(c) Not Applicable
(d) Not Applicable
(e) Not Applicable
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Not Applicable
Item 7. Material to be Filed as Exhibits.
Not Applicable
Signature
After reasonable inquiry and to the best of my knowledge and belief, is
certify that the information set forth in this statement is true, complete
and correct.
September 2, 1997 /s/ Joshua J. Angel
_______________________ ______________________
Date Signature
Joshua J. Angel
______________________
Name/Title
