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SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549
SCHEDULE 13G
Information statement pursuant to Rule 13d-1 and 13d-2
(Amendment No. 1)(1)
North European Oil Royalty Trust
(Name of issuer)
Common Stock No Par Value Per Share
(Title of class of securities)
659310106
(CUSIP number)
(Continued on following page (s))
(Page 1 of 6 Pages)
_________
(1) 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
cover 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 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.).
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Page 2 of 6 Pages
CUSIP No. 659310106
1. NAME OF REPORTING PERSONS S.S. OR I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS
Societe Generale Asset Management Corp. 13-3557071
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
3. SEC USE ONLY
4. CITIZENSHIP OF PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
719,500 Shared with the Fund and its other investment
advisory client(s).
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
719,500 Shared with the Fund and its other investment
advisory client(s).
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON:
719,500
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:
8.27%
12. TYPE OF REPORTING PERSON*
IA
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Page 3 of 6 Pages
CUSIP No. 659310106
1. NAME OF REPORTING PERSONS S.S. OR I.R.S IDENTIFICATION
NO.OF ABOVE PERSONS:
SoGen International Fund, Inc. 13-2672902
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OF PLACE OF ORGANIZATION
Maryland
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH:
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
455,000 Shared with its investment adviser,
Societe Generale Asset Management Corp.
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
455,000 Shared with its investment adviser,
Societe Generale Asset Management Corp.
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON:
455,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)EXCLUDES
CERTAIN SHARES* [ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:
5.23%
12. TYPE OF REPORTING PERSON*
IV
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SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
Item 1
(a) Name of Issuer:
North European Oil Royalty Trust (the "Issuer").
(b) Address of Issuer's Principal Executive Offices:
Suite 19A, 43 West Front Street, P.O. Box 456,
Red Bank, New Jersey 07701.
Item 2
(a) Names of Persons Filing:
Societe Generale Asset Management Corp., a Delaware
corporation (the "Adviser"), and its investment
advisory client, SoGen International Fund, Inc.,
a Maryland corporation (the "Fund").
(b) Address of Principal Business Office:
The principal business offices of the Adviser and the Fund
are located at 1221 Avenue of the Americas, New York, NY 10020.
(c) Citizenship:
The Adviser is a Delaware corporation.
The Fund is a Maryland corporation.
(d) Title of Class of Securities:
Common Stock No Par Value Per Share (the "Shares").
(e) CUSIP Number:
659310106
Item 3
The persons filing this Schedule 13G are:
(d) an investment company registered under Section
8 of the Investment Company Act of 1940, as
amended (the "Fund"), and
(e) an investment adviser registered under Section
203 of the Investment Advisers Act of 1940, as
amended (the "Adviser").
Page 4 of 6
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Schedule 13G
Item 4
Ownership.
(a) Amount Beneficially Owned:
The Adviser owns 719,500 Shares.
The Fund beneficially owns 455,000 Shares.
(b) Percentage of class:
The Adviser beneficially owns 8.27% of the outstanding Shares.
The Fund beneficially owns 5.23% of the outstanding Shares.
(c) Number of Shares As to Which Such Persons Have:
(i) sole power to vote or direct the vote:
The Adviser: 719,500
The Fund: 455,000.
(ii) shared power to vote or direct the vote:
None
(iii) sole power to dispose or to direct the disposition of:
The Adviser: 719,500.
The Fund: 455,000.
(iv) shared power to dispose or to direct the disposition of:
None
Item 5
Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6
Ownership of More Than Five Percent on Behalf of
Another Person.
Not Applicable.
Item 7
Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported On By the
Parent Holding Company.
Not Applicable.
Item 8
Identification and Classification of Members of the
Group.
Not Applicable.
Item 9
Notice of Dissolution of Group:
Not Applicable.
Page 5 of 6
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Schedule 13G
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 purpose 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.
Dated: February 14, 1997
SOCIETE GENERALE ASSET MANAGEMENT CORP.
By: /s/ Jean-Marie Eveillard
Title: Jean-Marie Eveillard, President
SOGEN INTERNATIONAL FUND, INC.
By: /s/ Jean-Marie Eveillard
Title: Jean-Marie Eveillard, President
Page 6 of 6
