SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
(RULE 13D - 102)
INFORMATION TO BE INCLUDED IN STATEMENTS
PURSUANT TO RULES 13D-1(B) AND (C) AND
AMENDMENTS THERETO FILED PURSUANT TO 13D-2
(AMENDMENT NO. )*
HOWELL CORPORATION
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(Name of Issuer)
COMMON
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(Title of Class of Securities)
443051107
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(CUSIP Number)
-------------------------
*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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CUSIP NO. 443051107 13G PAGE 2 OF 10 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Forest Investment Management LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF 443,029
SHARES --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY zero
EACH --------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 443,029
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
zero
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,029
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.50%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 443051107 13G PAGE 3 OF 10 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Founders Financial Group L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF 443,029
SHARES --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY zero
EACH --------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 443,029
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
zero
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,029
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.50%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 443051107 13G PAGE 4 OF 10 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Michael A. Boyd, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
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5 SOLE VOTING POWER
NUMBER OF 443,029
SHARES --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY zero
EACH --------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 443,029
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
zero
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,029
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.50%
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 443051107 13G PAGE 5 OF 10 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATIONS NOS. OF ABOVE PERSONS
Michael A. Boyd
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
NUMBER OF 443,029
SHARES --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY zero
EACH --------------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 443,029
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
zero
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
443,029
- - --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- - --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.50%
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 443051107 13G PAGE 6 OF 10 PAGES
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Item 1.
(A) NAME OF ISSUER.
Howell Corporation (the "Issuer").
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
The Issuer's principal executive offices are located at 1111 Fanin,
Suite 1500, Houston, Texas 77002.
ITEM 2.
(A) NAMES OF PERSONS FILING.
This statement is filed by the following persons: (a) Forest
Investment Management LLC, an Investment Advisor registered under the Investment
Advisors Act of 1940, as amended ("Forest"), (b) Founders Financial Group L.P.
("Founders"), in its capacity as the owner of a controlling interest in Forest,
(c) Michael A. Boyd, Inc. ("MAB, Inc."), in its capacity as the general partner
of Founders and (d) Michael A. Boyd ("Mr. Boyd"), in his capacity as the sole
director and shareholder of MAB, Inc., (collectively, the "Filing Parties").
(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE.
The principal business office of each of the Filing Parties is 53
Forest Avenue, Old Greenwich, Connecticut 06870.
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CUSIP NO. 443051107 13G PAGE 7 OF 10 PAGES
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(C) CITIZENSHIP.
Forest is a Delaware Limited Liability Company. Founders is a
Delaware limited partnership. MAB, Inc. is a Connecticut corporation. Mr. Boyd
is a United States citizen.
(D) TITLE OF CLASS OF SECURITIES.
This statement relates to shares of Common Stock, par value $1.00
per share (the "Common Stock"), of the Issuer.
(E) CUSIP NUMBER.
443051107
ITEM 3. This statement is being filed pursuant to Rule 13d-1(b).
(a) |_| Broker or dealer registered under Section 15 of the Act,
(b) |_| Bank as defined in Section 3(a)(6) of the Act,
(c) |_| Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) |_| Investment Company registered under Section 8 of the
Investment Company Act,
(e) |X| Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940,
(f) |_| Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; SEE
13d-1(b)(1)(ii)(F),
(g) |_| Parent Holding Company, in accordance with Rule 13d-1(b)
(ii)(G); SEE Item 7,
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CUSIP NO. 443051107 13G PAGE 8 OF 10 PAGES
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(h) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
ITEM 4. OWNERSHIP.
(A) AMOUNT BENEFICIALLY OWNED.
Each of Forest, Founders, MAB, Inc. and Mr. Boyd beneficially owns
443,029 shares of Issuer's Common Stock.
(B) PERCENT OF CLASS.
Each of Forest, Founders, MAB, Inc. and Mr. Boyd owns 7.50% of the
Issuer's Common Stock.
(C) POWER TO VOTE OR DIRECT THE VOTE AND DISPOSE OR DIRECT THE
DISPOSITION OF SECURITIES.
Each of Forest, Founders, MAB, Inc. and Mr. Boyd has sole
power to vote or dispose or to direct the vote or disposition of the shares of
Common Stock.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [ ]
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.
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CUSIP NO. 443051107 13G PAGE 9 OF 10 PAGES
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Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
Not applicable.
[SIGNATURES ON NEXT PAGE]
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CUSIP NO. 443051107 13G PAGE 10 OF 10 PAGES
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SIGNATURE
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
statement is true, complete and correct.
FOREST INVESTMENT MANAGEMENT LLC
Dated: February 17, 1998 By: /S/ MICHAEL A. BOYD
-----------------------------------------
Michael A. Boyd, Chairman
FOUNDERS FINANCIAL GROUP, L.P.
Dated: February 17, 1998 By: /S/ MICHAEL A. BOYD
-----------------------------------------
Michael A. Boyd, Chairman
MICHAEL A. BOYD, INC.
Dated: February 17, 1998 By: /S/ MICHAEL A. BOYD
--------------------------------------
Name: Michael A. Boyd
Title: President
MICHAEL A. BOYD
Dated: February 17, 1998 By: /S/ MICHAEL A. BOYD
-------------------------------------
Name: Michael A. Boyd
