UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities and Exchange Act of
1934 (Amendment No. 1
)
Name of Issuer: Home State Holdings
Title of Class of Securities: Common
Cusip Number: 437368103
Name, Address and Telephone Number of Person authorized to
receive notices and communications: Kenneth E. Leopold,
Senior Attorney, c/o Neuberger&Berman, LLC, 605 Third
Avenue, NY, NY 10158
Date of Event which requires Filing of this statement:
January 22, 1997
If the filing person has previously filed a statement on
schedule 13g to report the acquisition which is the
subject of this Schedule 13D, and is filing this schedule
because of Rule 13d-1(b)(3) or (4), check the following
box
Note: Six copies of this statement , including all
exhibits, should be filed with the Commission. See Rule
13d-1 (a) for other parties to whom copies are to be sent.
* 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 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).
SCHEDULE 13 D
CUSIP NO. 437368103
1.Name of Reporting Person
S.S. or IRS identification NO. of Above Person
Marvin Schwartz
SS # ###-##-####
2.Check the appropriate box if a member of a group*
a
b
3. Sec use only
4.Source of funds*
P.F.O.O
5.Check Box if disclosure of legal proceedings is
required
pursuant to items 2(d) or 2(e)
6. Citizenship or place of organization
U.S.A.
7. Sole Voting Power
392,000
8.Shared voting power
0
9.Sole dispositive power
392,000
10. Shared dispositive power
0
11. Aggregate amount beneficially owned by each
reporting person
392,000
12.Check box if the aggregate amount in row 11 excludes
certain shares*
13. Percent of class represented by amount in row 11.
6.93%
14.Type of reporting person*
IN
ITEM 1 Security and Issuer
This statement related to the common stock (the "Shares")
of Home State Holdings (the "Company"). The Address of
the principal executive offices of the company is 3 South
Revmont Drive Shrewsbury, New Jersey 07702.
ITEM 2 Identity and Background
A) The name of the individual filing this statement is
Marvin Schwartz
B) The business address of Marvin Schwartz is: c/o
Neuberger&Berman, LLC, 605 Third Avenue, New York, New
York 10158-3698.
C) Marvin Schwartz is a Principal of Neuberger & Berman,
LLC ("N&B"), a limited liability company organized under
the laws of the State of Delaware. N&B is a registered
broker/dealer and registered investment advisor which
conducts a general brokerage, dealer and investment
advisory business. This filing is made by Mr. Schwartz
individually and not in his capacity as Principal of N&B.
The shares are held individually by Mr. Schwartz and
others. The firm of N&B has no voting or dispositive power
regarding these shares.
D) During the last five years Marvin Schwartz has not been
convicted in a criminal proceeding(excluding traffic
violations or similar misdemeanors).
E) During the last five years Marvin Schwartz has not been
a party to a civil proceeding as a result of which he is
subject to judgement, decree or order enjoining future
violations of or prohibiting or mandating activited
subject to Federal or State securities laws or finding any
violation with respect to such laws.
F) Marvin Schwartz is a United States citizen.
ITEM 3 Source and Amounts of Funds
Marvin Schwartz now owns 40,000 Shares for his personal
account. Since the transactions reported in Mr.
Schwartz's original Schedule 13D. Mr. Schwartz has
purchased 0 shares for his personal securities account.
The total 40,000 Shares were acquired in several open
market transactions, purchased between January 22, 1997
and January 22, 1997 for the total purchase cost of
$310,662, including transaction charges. Those shares
acquired were purchased with his personal funds.
In addition, Marvin Schwartz now beneficially owns 352,000
shares as follows:
352,000 shares owned by the N&B Profit Sharing Trust (the
"Plan"). Such shares are held in a securities account in
the name of the plan with N&B and are held in street name.
Such shares were purchased with Plan Funds between
September 12, 1996 and January 30, 1997 for a total
purchase cost $2,689,689, including transaction charges.
Marvin Schwartz has sole dispositive power and voting
power with respect to such shares.
ITEM 4 Purpose of Transaction
Marvin Schwartz purchased the shares for investment
purposes only. He does not have any plans or proposals
which relate to or would result in any of the activities
or matters referred to in paragraphs (a) through (j),
inclusive of item 4 of Schedule 13D.
ITEM 5 Interest in Securities of the Issuer
A) Due to a calculation error,Mr. Schwartz was
inaccurately reported as the beneficial owner of 6.70% of
the 5,660,000 shares outstanding. The purpose of this
amendment is to correct the previous filing. Mr Schwartz
currently owns 392,000 shares which represent 6.93% of the
5,660,000 shares outstanding.
B) Marvin Schwartz has the sole power to dispose of
392,000 shares and has shared dispositive power with
regard to 0 shares. Marvin Schwartz has sole voting power
with regard to 392,000 shares and has shared voting power
with regard to 0 shares.
C) During the 60 days surrounding the event triggering
this filing. Marvin Schwartz effected 9 open market
transactions in the shares. The trade dates and prices
are noted below:
Trade Date B/S Shares Price
11/29/96 B 55,000
7.625
12/03/96 B 70,000
7.75
12/20/96 B 10,000 7.5
12/26/96 B 25,000
7.625
01/09/97 B 5,000
7.375
01/22/97 B 14,000
7.75
01/22/97 B 13,000
7.75
01/22/97 B 13,000
7.75
01/30/97 B 30,000 8
ITEM 6 Contracts, Agreements, Understandings or
Relationship with Respect to
Securities of Issuer
There are no agreements, contracts or understandings of
any kind between Marvin Schwartz and any other person
with regard to the shares or the issuer.
ITEM 7 Material to be filed as Exhibits
There are no materials to be filed as exhibits.
Signatures
After reasonable inquiry and to the best of his
knowledge and belief, the undersigned certifies that the
information set forth in this statement is true,
complete and correct.
Dated:___________ ___________________
Marvin Schwartz
