UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.1)*
MECH Financial Inc. (formerly Mechanics Savings Bank)
(Name of Issuer)
Common Stock
(Title of Class of Securities)
583492103 (formerly 583685102)
(CUSIP Number)
*The remainder of this cover 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 subsquenent 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 ("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. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morton H. Sachs & Co. DBA The Sachs Company ("SC")
Morton H. Sachs ("MHS")
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
Joint filing pursuant to Rule 13d-1 (f) (1) See Item 2 (b) x
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Louisville, Kentucky USA
NUMBER OF 5. SOLE VOTING POWER 243,000
SHARES
BENEFICIALLY 6. SHARED VOTING POWER 0
OWNED BY
EACH 7. SOLE DISPOSITIVE POWER 243,000
REPORTING PERSON
WITH 8. SHARED DISPOSITIVE POWER 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
243,000
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.59%
12. TYPE OF REPORTING PERSON*
SC-IA MHS-IN
<PAGE>
Cusip No.583492103 13G Page 2 of 3 Pages
Schedule 13G Additional Information
Item #
1. (a) Name of Issuer:
MECH Financial Inc. (formerly Mechanics Savings Bank)
(b) Address of Issuer's Principal Executive Offices:
100 Pearl Street
Hartford, CT 06103
2. (a) Name of Person Filing:
Morton H. Sachs & Co. DBA The Sachs Company ("SC") and Morton
H. Sachs ("MHS"), the controlling shareholder of SC. This schedule
relates to the same securities. Each person is individually eligible
to use this schedule and has executed the Agreement attached as to
that effect. See Exhibit A.
(b) Address of Principal Business Office for Each of the Above:
1346 South Third Street
Louisville, KY 40208
(c) Citizenship:
SC- A Kentucky Corporation
MHS- USA
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number:
583492103 (formerly 583685102)
3. This statement is filed pursuant to Rule 13d-1(b), or 13d-2(b). The person
filing is a:
(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
provsions of the Employee Retirement Income Security Act of 1974 or
Endowment Fund
(g) [x] Parent Holding Company, in accordance with 240.13d-1(b)(ii)(G)
(Note: See Item 7) The Sachs Company is an investment adviser
registered under Section 203 of the Investment Advisers Act of
1940 and Morton H. Sachs is an individual controlling shareholder
thereof reporting under Rule 13d-1(b) (ii) (G).
(h) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(H)
4. Ownership:
(a) Amount Beneficially Owned: 243,000
(b) Percent of Class: 4.59%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 243,000
(ii) shared power to vote or to direct the vote None
(iii) sole power to dispose or to direct the disposition of 243,000
(iv) shared power to dispose or to direct the disposition of None
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 [ X ].
<PAGE>
CUSIP NO. 583492103 13G Page 3 of 3 Pages
Schedule 13G Additional Information (continued)
- -----------------------------------
Item #
6. Ownership of More than Five Percent on Behalf of Another Person:
N/A
7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:
See Items 2 and 3.
8. Identification and Classification of Members of the Group:
N/A
9. Notice of Dissolution of Group:
N/A
10. Certification:
By signing below, the undersigned certify that, to the best of their
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 purpose or effect.
SEE NOTE No. 1 BELOW
--------------------
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.
Date: February 12, 1998 Date: February 12, 1998
Morton H. Sachs & Co. DBA The Sachs Company
Signature: By /s/ Morton H. Sachs Signature: /s/ Morton H. Sachs
Morton H. Sachs, President Morton H. Sachs
NOTE No. 1: Each of the reporting persons hereby disclaims beneficial
ownership of the above shares, and the filing of this statement
shall not be construed as an admission that any of the
reporting persons is the beneficial owner of the shares covered
by this statement.
EXHIBIT A
---------
AGREEMENT
The undersigned hereby agree that the statement on Schedule G to
which this is attached as Exhibit A is filed on behalf of each
of the undersigned.
Date: February 12, 1998 Morton H. Sachs & Co. DBA The Sachs Company
by: /s/ Morton H. Sachs
Morton H. Sachs, President
Date: February 12, 1998 /s/ Morton H. Sachs
Morton H. Sachs
