UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 9)*
Elk Associates Funding Corporation
----------------------------------
(Name of Issuer)
Common Stock, $.01 par value
----------------------------
(Title of Class of Securities)
287166 10 2
-----------
(CUSIP NUMBER)
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 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
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for purposes 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).
Page 1 of 8
SCHEDULE 13G
CUSIP NO.287166102 Page 2 of 4 Pages
--------- --------- -------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GARY C. GRANOFF
###-##-####
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)
(B)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A
NUMBER OF 5. SOLE VOTING POWER
SHARES 241,549
BENEFICIALLY
OWNED BY 6. SHARED VOTING POWER
EACH 10,900
REPORTING
PERSON 7. SOLE DISPOSITIVE POWER
WITH 241,549
8. SHARED DISPOSITIVE POWER
10,900
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
273,449
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
X
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
21.30%
12. TYPE OF REPORTING PERSON*
IN
SCHEDULE 13G - GARY C. GRANOFF
CUSIP NO. 287166102 Page 3 OF 4 Pages
--------- ----- -------
Item 1(a) Name of Issuer.
--------------------
Elk Associates Funding Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
_______________________________________________
747 Third Avenue, 4th Floor
New York, New York 10017
Item 2(a) Name of Person Filing
------------------------
Gary C. Granoff
Item 2(b) Address of Principal Business Office, or, if none,
Residence
__________________________________________________
c/o Elk Associcates Funding Corporation
747 Third Avenue - 4th Floor
New York, NY 10017
Item 2(c) Citizenship:
___________
U.S.A.
Item 2(d) Title of Class of Securities:
_____________________________
Common Stock, Par Value $.01
Item 2(e) CUSIP Number:
____________
287166102
Item 3. Not Applicable
CUSIP No. 287166102 Page 4 of 4 Pages
__________ ___ ___
Item 4. Owners:
---------
(a) Amount Beneficially Owned:
273,449*
(b) Percent of Class:
21.30%
(c) Number of Shares as to Which Such Person Has:
(i) sole power to vote or to direct the vote -
241,549 shares
(ii) shared power to vote or to direct the vote -
10,900 shares
(iii) sole power to dispose or to direct the
disposition of - 241,549 shares
(iv) shared power to dispose or to direct the
disposition of - 10,900 shares
Item 5. Not Applicable
Item 6. Not Applicable
Item 7. Not Applicable
Item 8. Not Applicable
Item 9. Not Applicable
Item 10. Not Applicable
SIGNATURES
After reasonable inquiry and to the best of any knowledge and
belief, I certify that the information set forth in this statement is
true, complete and correct.
March 15, 1996
- -----------------------
(Date)
GARY C. GRANOFF
- -----------------------
(Signature)
GARY C. GRANOFF
- -----------------------
(Name/Title)
________________________
* Excludes 15,933 shares owned by Mr. Granoff's wife as to which he disclaims
beneficial ownership. Also excludes 16,448 shares owned by two of Mr.
Granoffs sons as to which shares he does not exercise any control and
disclaims beneficial ownership. Also excludes 22,800 shares held by various
trusts for the benefit of Mr. Granoff's children, as to 21,000 of which
shares Mr. Granoff retains a reversionary interest. Includes 10,900 shares
owned by the Granoff Family Foundation, a charitable foundation for which Mr.
Granoff and his father, mother and brother are trustees. Also includes
35,321 shares held by Mr. Granoff as trustee for his children and other
family members. Also includes 261 shares held by GCG Associates Inc., a
corporation owned by Mr. Granoff. Also includes 72,875 shares owned by DAPARY
Management Corp., a corporation controlled by Mr. Granoff.
Page 4 of 4 Pages
