UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
THE TURNER CORPORATION
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
900273103
(CUSIP Number)
George J. Records, Midland Financial Co., 501 West I-44 Road,
Oklahoma City, OK 73118 (405) 840-7640
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
November 21, 1997
(Date of Event which Requires Filing of this Statement)
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).
CUSIP No. 900273103
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Records Co., A Limited Partnership
IRS #73-1470906
2. Check the Appropriate Box if a Member of a Group: (a) [ ]
(b) [ ]
3. SEC Use Only:
4. Source of Funds:
Not applicable
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e): [ ]
6. Citizenship or Place of Organization:
Oklahoma
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7. Sole Voting Power:
263,335
8. Shared Voting Power:
9. Sole Dispositive Power:
263,335
10. Shared Dispositive Power:
11. Aggregate Amount Beneficially owned by Each Reporting Person:
263,335
12. Check if the Aggregate Amount in Row (11) Excludes Certain
Shares: [ ]
13. Percent of Class Represented by Amount in Row (11):
4.9%
14. Type of Reporting Person:
PN
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Item 1. Security and Issuer.
This Schedule 13D relates to the common stock ("Common Stock") of The
Turner Corporation, whose principal executive offices are at 375 Hudson
Street, New York, New York 10014.
Item 2. Identity and Background.
This statement is being filed by The Records Co., A Limited
Partnership (the "Partnership"), an Oklahoma limited partnership, George J.
Records and his wife Nancy J. Records are the general partners of the
Partnership (the "General Partners"), and George J. Records is the managing
general partner (the "Managing General Partner") of the Partnership. The
business address of the Partnership and the General Partners is c/o Midland
Financial Co., 501 West I-44 Road, Oklahoma City, Oklahoma 73118. The
principal occupation of George J. Records is Chairman of the Board of
Midland Financial Co., and Mrs. Records manages personal investments.
Neither the Partnership nor either of the General Partners has, during
the last five years, been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors). Neither the Partnership nor
either of the General Partners has, during the last five years, been a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction which resulted in any of them being subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws. Each of the
General Partners is a United States citizen.
Item 3. Source and Amount of Funds or Other Consideration.
Not applicable.
Item 4. Purpose of Transaction.
Not applicable.
Item 5. Interest in Securities of the Issuer.
(a)(b) As of November 24, 1997, the aggregate amount of Common
Stock beneficially owned by the Partnership is 263,335 shares, which
represent approximately 4.9% of the 5,323,825 shares believed to be
outstanding. The Managing General Partner has the sole power to vote or
direct the vote and the sole power to dispose or direct the disposition of
such shares.
(c) The Partnership has engaged in two open market sale
transactions in the Common Stock within the past sixty days. The
Partnership sold 4,400 shares for $24.00 per share on November 21, 1997 and
600 shares for $24.00 per share on November 24, 1997.
(d) Not applicable.
(e) The Partnership ceased to be the beneficial owner of more
than 5% of the Common Stock on November 21, 1997.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
The pledge of the shares of Common Stock owned by the Partnership
was described in the original Schedule 13D of the Partnership.
Item 7. Material to be Filed as Exhibits.
None.
<PAGE>
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.
November 26, 1997 THE RECORDS CO., A LIMITED PARTNERSHIP
By GEORGE J. RECORDS
George J. Records
Managing General Partner
