<PAGE>
UNITED STATES
SECURITIES & EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Inland Steel Industries, Inc.
-----------------------------
(Name of Issuer)
Series G Convertible Preferred Stock
------------------------------------
(Title of Class of Securities)
457472 50 4
----------
(CUSIP Number)
Check the following 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 of such class.) (See
Rule 13d-7.)
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).
1
<PAGE>
CUSIP NO. 45742 50 4 13G
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Corporation
Tax Identification No. 41-0449260
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE LINE IF A MEMBER OF A GROUP* (A) ______
(B) ______
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY -----------------------------------------------------------
SHARED VOTING POWER
OWNED BY 6
EACH -----------------------------------------------------------
7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 8 -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 5%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
2
<PAGE>
CUSIP NO. 457472 50 4 13G
- --------------------------------------------------------------------------------
1 NAME OR REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Colorado, Inc.
Tax Identification No. 84-1187164
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE LINE IF A MEMBER OF A GROUP* (A) ______
(B) ______
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
COLORADO
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
------------------------------------------------------------
BENEFICIALLY SHARED VOTING POWER
6
OWNED BY
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES[_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 5%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
3
<PAGE>
CUSIP NO. 457472 50 4 13G
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Bank Colorado National Association
Tax Identification No. 84-0187632
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE LINE IF A MEMBER OF A GROUP* (A) ______
(B) ______
- --------------------------------------------------------------------------------
SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
7 ------------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
REPORTING
8 ------------------------------------------------------------
PERSON SHARED DISPOSITIVE POWER
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES[_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 5%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BK
- --------------------------------------------------------------------------------
4
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Item 1(a) Name of Issuer:
- --------- --------------
Inland Steel Industries, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
- --------- -----------------------------------------------
30 West Monroe St.
Chicago, IL 60603
Item 2(a) Name of Person Filing:
- --------- ---------------------
1. Norwest Corporation
2. Norwest Colorado, Inc. ("NCI")
3. Norwest Bank Colorado National Association ("NBD")
This statement is filed by Norwest Corporation on behalf of
all of the persons listed above pursuant to Rule 13d-1(b).
Attached is an agreement among the persons listed above to
that effect. NCI is a direct subsidiary of Norwest
Corporation. NBC is a direct subsidiary of NCI and an
indirect subsidiary of Norwest Corporation.
5
<PAGE>
Item 2(b) Address of Principal Business Office(s):
- --------- ---------------------------------------
1. Norwest Corporation
Norwest Center
Sixth and Marquette
Minneapolis, MN 55479-1000
2. Norwest Colorado, Incorporated
One United Bank Center
1700 Lincoln Street
Denver, CO 80274-0010
3. Norwest Bank Colorado, National Association
1700 Broadway
Denver, CO 80274-0005
Item 2(c) Citizenship:
- --------- -----------
1. Norwest Corporation is a Delaware corporation.
2. NCI is a Colorado corporation.
3. NBC is a national banking association.
Item 2(d) Title of Class of Securities:
- --------- ----------------------------
Series G Convertible Preferred Stock
Item 2(e) CUSIP Number:
- --------- ------------
457472 50 4
Item 3 Type of Person:
- ------ --------------
(g) Parent holding company for Norwest Corporation
(g) Parent holding company for NCI
(b) Bank for NBC
Item 4 Ownership:
- ------ ---------
1. Norwest Corporation
(a) Amount Beneficially Owned. At May 31, 1994, Norwest
Corporation indirectly owned less than 5% of the Series G
Preferred Stock and had no
6
<PAGE>
rights to acquire additional shares through the exercise of options or
otherwise.
2. NCI
(a) Amount Beneficially Owned. At May 31, 1994, NCI indirectly owned
less than 5% of the Series G Stock and had no rights to acquire
additional shares through the exercise of options or otherwise.
3. NBC
(a) Amount Beneficially Owned. At May 31, 1994, NBC owned less than 5%
of the Series G Preferred Stock and had no other rights to acquire
additional shares through the exercise of options or otherwise.
Item 5 Ownership of Five Percent or Less of Class:
- ------ ------------------------------------------
If this Statement is being filed to report the fact that as of the
date hereof the reporting persons have ceased to be the beneficial
owners of more than five percent of the class of securities, check the
following [X].
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:
------------------------------------------------------------
See Exhibit A
Item 8 Identification and Classification of Members of the Group:
- ------ ---------------------------------------------------------
Not Applicable
Item 9 Notice of Dissolution of Group:
- ------ ------------------------------
Not Applicable
7
<PAGE>
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.
Dated: June 9, 1994
NORWEST CORPORATION
By /s/ Laurel A. Holschuh
----------------------
Laurel A. Holschuh, Senior Vice President
and Secretary
8
