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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
New England Investment Companies, L.P.
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(Name of issuer)
LP Units
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(Title of class of securities)
644095101
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(CUSIP number)
Check the following box if a fee is being paid with this statement / /. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 ("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).
Page 1 of 5 Pages
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CUSIP No. 644095101 13G Page 2 of 5 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Reich & Tang, 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. CITIZEN OR PLACE OF ORGANIZATION
Delaware
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5. SOLE VOTING POWER
NUMBER OF 6,386,600 LP Units*
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
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6. SHARED VOTING POWER
0
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7. SOLE DISPOSITIVE POWER
6,386,600 LP Units*
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8. SHARED DISPOSITIVE POWER
0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
6,386,600 LP Units*
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
*Does not include 101,500 LP Units contributed to New England
Investment Companies, L.P. Restricted Unit Plan as to which Reich &
Tang, Inc. retains certain income or reversionary rights.
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
15.78%
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12. TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1(a). Name of Issuer:
New England Investment Companies, L.P.
Item 1(b). Address of Issuer's principal executive offices:
399 Boylston Street
Boston, Massachusetts 02117
Item 2(a). Name of person filing:
Reich & Tang, Inc.
Item 2(b). Address of principal business office or, if none, residence:
125 Cove Neck Road
Oyster Bay, New York 11771
Item 2(c). Citizenship:
Delaware
Item 2(d). Title of Class of securities:
LP Units
Item 2(e). CUSIP Number:
644095101
Item 3. If this statement is filed pursuant to Rules 13d-1(b); Or
13d-2(b), check whether 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) / / Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940,
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(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). (Note: see item 7),
(h) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(H),
Item 4. Ownership.
If the percent of the class owned, as of December 31 of the
year covered by the statement, or as of the last day of any month described in
Rule 13d-1(b)(2), if applicable, exceeds five percent, provide the following
information as of that date and identify those shares which there is a right to
acquire.
(a) Amount beneficially owned:
6,386,600 LP Units(1)
(b) Percent of Class:
15.78%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct to vote:
6,386,600
(ii) Shared power to vote or to direct the vote:
-0-
(iii) Sole power to dispose or to direct the
disposition of:
6,386,600(1),
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(1) Does not include 101,500 LP Units contributed to New England
Investment Companies, L.P. Restricted Unit Plan as to which Reich & Tang, Inc.
retains certain income or reversionary rights.
Page 4 of 5 Pages
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(iv) Shared power to dispose or to direct the
disposition of:
-0-.
Item 5. Ownership of five percent or less of a Class.
Not applicable.
Item 6. Ownership of more than five percent on behalf of another person.
No other person is known to have the right to receive
or the power to direct the receipt of distributions
from, or the proceeds from the sale of, such
securities.
Item 7. Identification and classification of the subsidiary which
acquired the security being reported on by the Parent Holding
Company.
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.
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.
February 7, 1997
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(Date)
/s/ Lorraine C. Hysler
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(Signature)
Lorraine C. Hysler, Secretary
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(Name/Title)
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