FORM 4
[ ] Check this box if no longer subject
to Section 16. Form 4 or Form 5
obligations may continue. See
Instructions 1(b).
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
JW Charles Financial Services, Inc.
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(Last) (First) (Middle)
980 North Federal highway #310
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(Street)
Boca Raton FL 33432
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Americas Growth Fund (AGRO)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
September 1997
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5. If Amendment, Date of Original (Month/Year)
_______________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[x] 10% Owner
[ ] Director
[ ] Officer (give title below)
[ ] Other (specify below)
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_______________________________________________________________________________
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<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
TABLE I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. 2. 3. 4. 5. 6. 7.
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Amount of Owner-
Securities ship
Trans- Trans- Securities Acquired (A) Beneficially Form:
action action or Disposed of (D) Owned at Direct Nature of
Date Code (Instr. 3, 4 and 5) End of (D) or Indirect
Title of (Month/ (Instr. 8) ---------------------------- Month Indirect Beneficial
Security Day/ ---------- Amount (A) or Price (Instr. (I) Ownership
(Instr. 3) Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4)
- --------------------- -------- ---- ---- ----------- ------ --------- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 09-27-97 J 822,938 (A) $20.50 1,149,488 D
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Print or Type Responses)
Page 2
<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
TABLE II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g. puts, calls, warrants, options, convertible securities)
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
- ---------- -------- -------- -------- ---------- ------------ -------------- ------ ---------- --------- ----------
Title and Ownership
Number of Date Exer- Amount of Form of
Derivative cisable and Underlying Number of Deriv-
Securities Expiration Securities Price Derivative ative
Conver- Trans- Acquired (A) Date (Month/ (Instr. 3 of Securities Security:
sion or Trans- action or Disposed Day/Year) and 4) Deriv- Benefi- Direct
Exercise action Code of (D) -------------- -------------- ative cially (D) or Nature of
Title of Price of Date (Instr. (Instr. 3, Date Amount Secur- Owned at Indirect Indirect
Derivative Deriv- (Month/ 8) 4 and 5) Exer- Expir- or Num- ity End of (I) Beneficial
Security ative Day/ -------- ---------- cis- ation ber of (Instr. Month (Instr. Ownership
(Instr. 3) Security Year) Code V (A) (D) able Date Title Shares 5) (Instr. 4) 4) (Instr. 4)
- ---------- -------- -------- ---- --- ---- ---- ------- ----- ----- ------ ------ ---------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
Explanation of Responses:
On September 22, 1997, JW Charles Financial Services, Inc. (the
"Company") completed its exchange tender offer (the "Exchange Offer")
for all (but not less than 51%) of the outstanding shares of common
stock of The Americas Growth Fund, Inc. ("AGRO") not already owned by
the Company. Prior to the commencement of the Exchange Offer, the
Company owned 26% of the outstanding shares of common stock of AGRO.
A total of 822,938 shares of AGRO common stock, representing approximately
65% of the outstanding shares of AGRO common stock, were tendered pursuant
to the Exchange Offer. All shares of AGRO common stock tendered were
accepted for exchange by the Company according to the terms of the
Exchange Offer on the basis of .431 shares of the Company's common stock
for each share of AGRO resulting in the issuance by the Company of 354,851
shares of its authorized but unissued common stock. On September 22,
1997, the closing price of the Company's common stock was $8.125.
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/s/ Joel E. Marks 3-27-97
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** Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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