PHARMHOUSE CORP
SC 13G/A, 1996-08-08
DRUG STORES AND PROPRIETARY STORES
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<PAGE>
                     SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                                SCHEDULE 13G

                 Under the Securities Exchange Act of 1934
                          (Amendment No.   1   )*
                                         -----

                                PharmHouse
                     ----------------------------------
                              (Name of Issuer)

                        Common Stock Par Value .01
                     ----------------------------------
                       (Title of Class of Securities)

                                 717137103
                     ----------------------------------
                              (CUSIP Number)

   Check the  following box if a fee is being paid with this statement / /.  
(A fee is not required only if the filing person:  (1) has a previous 
statement on file reporting  beneficial  ownership of more than 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 
or less of such class.) (See Rule 13d-7.)

   *The remainder of  this cover  page  shall  be  filled  out  for a 
reporting person's  initial  filing on this  form with  respect to the  
subject  class of securities,  and for any  subsequent  amendment  containing 
 information  which would alter the disclosures provided in a prior page.

   The information  required in the  remainder of this  cover page shall not 
be deemed to be "filed"  for the purpose of  Section 18 of the Securities 
Exchange Act of 1934  ("Act") or otherwise subject to the liabilities of that 
section of the Act but shall be subject to all other  provisions of the Act  
(however, see the Notes).

                        (Continued on following page(s))


                              Page 1 of     Pages
                                        --- 

<PAGE>

CUSIP No.                            13G                Page     of     Pages
          ---------                                          ---    --- 
  Hemisphere Trading Co.  5796 Shelby Oaks Drive Suite 12  Memphis TN 38134
- -----------------------------------------------------------------------------
 (1) Names of Reporting Persons.  S.S. or I.R.S. Identification Nos. of Above
     Persons
                                   621505218
- -----------------------------------------------------------------------------
 (2) Check the Appropriate Box if a Member     (a)  / /
     of a Group*                               (b)  / /
- -----------------------------------------------------------------------------
 (3) SEC Use Only

- -----------------------------------------------------------------------------
 (4) Citizenship or Place of Organization
                                      TN
- -----------------------------------------------------------------------------
Number of Shares              (5) Sole Voting
 Beneficially                       Power
 Owned by                    ------------------------------------------------
 Each Reporting               (6) Shared Voting
 Person With                        Power            201,600
                             ------------------------------------------------
                              (7) Sole Dispositive
                                    Power
                             ------------------------------------------------
                              (8) Shared Dispositive
                                    Power            201,600
- -----------------------------------------------------------------------------
 (9) Aggregate Amount Beneficially Owned by Each Reporting Person
                                201,600
- -----------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*

- -----------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
                                                         .0903
- -----------------------------------------------------------------------------
(12) Type of Reporting Person*
                                  investment advisor
- -----------------------------------------------------------------------------
                    *SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

                                                        Page     of     Pages
                                                             ---    --- 


ITEM 1(A).  NAME OF ISSUER
                                PharmHouse
- -----------------------------------------------------------------------------


ITEM 1(B).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
                        860 Broadway  NYC NY 10003
- -----------------------------------------------------------------------------


ITEM 2(A).  NAME OF PERSON(S) FILING
                      Brad Arberg, Hemisphere Trading Co
- -----------------------------------------------------------------------------


ITEM 2(B).  ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
                  5796 Shelby Oaks Drive  St. 12  MEMPHIS TN 38134
- -----------------------------------------------------------------------------


ITEM 2(C).  CITIZENSHIP
                                       TN
- -----------------------------------------------------------------------------


ITEM 2(D).  TITLE OF CLASS OF SECURITIES
                                   Common Stock
- -----------------------------------------------------------------------------


ITEM 2(E).  CUSIP NUMBER
                                    717137103
- -----------------------------------------------------------------------------


ITEM 3.  IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR 13D-2(B), 
  CHECK WHETHER THE PERSON FILING IS A

    (a) / / Broker or Dealer registered under Section 15 of the Act

    (b) / / Bank as defined in section 3(a)(6) of the Act

    (c) / / Insurance Company as defined in section 3(a)(19) of the Act

    (d) / / Investment Company registered under section 8 of the Investment 
            Company Act

    (e) /X/ Investment Adviser registered under section 203 of the Investment
            Advisers Act of 1940

    (f) / / Employee Benefit Plan, Pension Fund which is subject to the 
            provisions of the Employee Retirement Income Security Act of 1974 
            or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F)


    (g) / / Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G)
            (Note: See Item 7)

    (h) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(H)

<PAGE>
                                                        Page     of     Pages
                                                             ---    --- 

ITEM 4.  OWNERSHIP

    (a) Amount Beneficially Owned:
                                     201,600
    -------------------------------------------------------------------------

    (b) Percent of Class:
                                     .0903
    -------------------------------------------------------------------------

    (c) Number of shares as to which such person has:
                                                         201,600
          (i) sole power to vote or to direct the vote
                                                         201,600
              ---------------------------------------------------------------
         (ii) shared power to vote or to direct the vote

              ---------------------------------------------------------------
        (iii) sole power to dispose or to direct the disposition of

              ---------------------------------------------------------------
         (iv) shared power to dispose or to direct the disposition of

              ---------------------------------------------------------------

ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

If this statement is being filed to report the fact that as of the date 
hereof the reporting person has ceased to be the beneficial owner of more 
than five percent of the class of securities, check the following.  / /

ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

- -----------------------------------------------------------------------------


ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
  THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

- -----------------------------------------------------------------------------


ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

- -----------------------------------------------------------------------------


ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

- -----------------------------------------------------------------------------


ITEM 10. CERTIFICATION

    By signing below I certify  that,  to the best of my  knowledge and 
belief, the  securities  referred to above  were  acquired in the  ordinary  
course  of business and were not acquired for the purpose of and do not have 
the effect of changing or  influencing the  control of the issuer of such 
securities and were not acquired in  connection with or as a participant in 
any  transaction having such purposes or effect.

                                  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.
                                        AUG 8, 1996
                                       -------------------------------------- 
                                       (Date)
                                        /s/ BRAD ARBERG
                                       -------------------------------------- 
                                       (Signature)
                                        Brad Arberg
                                       -------------------------------------- 
                                       (Name/Title)




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