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 Rita 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 - 3,947,368
OWNED BY
8 SHARED VOTING POWER - 331,157
EACH
REPORTING 9 SOLE DISPOSITIVE POWER - 3,947,368
PERSON
WITH 10 SHARED DISPOSITIVE POWER - 331,157
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -
Direct 3,947,368
Indirect 331,157
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 44.32%
Indirect 3.72%
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) Rita Angel
(b) 9 East 79th Street
New York, New York 10021
(c) Office manager for Angel and Frankel, P.C., 460 Park Avenue, New
York, New York.
(d) During the last five (5) years Rita Angel has not been convicted in
a criminal proceeding.
(e) During the last five (5) years Rita 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) Rita Angel is a citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration
The consideration paid for the shares directly owned by Mrs. Angel was
$225,000.00. 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 directly owned 3,947,368
shares or 44.32% of the class of securities identified in Item 1 hereinabove.
As at August 28, 1997 the reporting person indirectly owned 331,157 or 3.72%
of the class of securities identified in Item 1 hereinabove. The shares in
which the reporting person has an indirect interest are owned by Joshua J.
Angel, her husband.
(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 3,947,368 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 331,157 shares of securities identified in Item 1 hereinabove.
The reporting person has shared power to vote or direct the vote or
shared power to dispose or direct the disposition of 331,157 shares of
securities identified in Item 1 hereinabove with her husband Joshua J. Angel.
Mr. Angel
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Page 5 of 5 Pages
resides at 9 East 79th Street, New York, New York, is a senior partner of
Angel & Frankel, P.C. and is Chairman of the Board of Harter Financial, Inc.
The reporting person disclaims all beneficial interest in Mr. 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/ Rita Angel
______________________ _________________________
Date Signature
Rita Angel
_________________________
Name/Title
