UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Act of 1934
Harter Financial, Inc.
- -------------------------------------------------------------
(Name of Issuer)
Common Stock
- -------------------------------------------------------------
(Title of Class of Securities)
416225 10 0
- -------------------------------------------------------------
(CUSIP Number)
Harter Financial, Inc.
Box 338 Village Road
New Vernon, New Jersey 07976
Attn: Spencer J. Angel,
(201) 734-0100
- -------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
May 15, 1997
- ----------------------------------------------------------------
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.)
THIS SPACE INTENTIONALLY LEFT BLANK
<PAGE>
SCHEDULE 13D
CUSIP No. 416225 10 0 Page 2 of 5 Pages
1 NAME OF REPORTING PERSON Spencer 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 - 1,315,790
OWNED BY
8 SHARED VOTING POWER - Not Applicable
EACH
REPORTING 9 SOLE DISPOSITIVE POWER - 1,315,790
PERSON
WITH 10 SHARED DISPOSITIVE POWER - Not Applicable
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -
1,315,790
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
THIS SPACE INTENTIONALLY LEFT BLANK
<PAGE>
SCHEDULE 13D
CUSIP No. 416225 10 0 Page 3 of 5 Pages
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) - 14.77%
14 TYPE OF REPORTING PERSON - IN
THIS SPACE INTENTIONALLY LEFT BLANK
<PAGE>
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) Spencer J. Angel
(b) 181 East 73rd Street, Apt. 6c
New York, New York 10021
(c) President of Harter Financial, Inc. located at address set forth in
Item 1 hereinabove.
(d) During the last five (5) years Spencer J. Angel has not been
convicted in a criminal proceeding.
(e) During the last five (5) years Spencer 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) Spencer J. Angel is a citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration
The consideration for the shares purchased was $75,000.00. The funds
used to purchase the shares were personal funds.
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 had 1,315,790 shares or
14.77% of the class of securities identified in Item 1 hereinabove.
(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 1,315,790 shares of the class of securities identified in Item 1
hereinabove. As at August 28, 1997 the reporting person does not have any
shared power to vote or direct the vote or shared power to dispose or direct
the disposition of the shares of securities identified in Item 1 hereinabove.
(c) Not Applicable
(d) Not Applicable
(e) Not Applicable
<PAGE>
Page 5 of 5 Pages
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/ Spencer J. Angel
_______________________ ______________________
Date Signature
Spencer J. Angel
______________________
Name/Title
