UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 11)*
CHEMUNG FINANCIAL CORPORATION
(Name of Issuer)
COMMON STOCK, PAR VALUE $5.00
(Title of Class of Securities)
164024 10 1
(CUSIP Number)
Check the following 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 6 pages
SEC 1745 (2/95)
13G
CUSIP No. 164024 10 1 Page 2 of 6 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chemung Canal Trust Company E.I. No. 16-0380815
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A. - State of New York
NUMBER OF 5. SOLE VOTING POWER
SHARES 25,613
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 574,251
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 25,613
PERSON 8. SHARED DISPOSITIVE POWER
WITH 184,399
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
599,864
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
28.95%
12. TYPE OF REPORTING PERSON*
BK
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 6 pages
SCHEDULE 13G (Amendment No. 11)
Item 1(a) Name of Issuer:
Chemung Financial Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
One Chemung Canal Plaza
Elmira, New York 14901
Item 2(a) Name of Person Filing:
Chemung Canal Trust Company
Item 2(b) Address or Principal Business Office or, if none,
residence:
One Chemung Canal Plaza
Elmira, New York 14901
Item 2(c) Citizenship:
Organized in the State of New York
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
164024 10 1
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) (X) 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
(f) ( ) Employee Benefit Plan, Pension Fund
which is subject to the provisions of the Employee
Retirement Income Security Act of 1974 or Endowment
Fund
(g) ( ) Parent Holding Company, in accordance
with Section 240.13d-(b)(ii)(G)
(h) ( ) Group, in accordance with Section
240.13d-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:
599,864
(b) Percent of Class:
28.95% based on 2,072,214 shares outstanding on
December 31, 1996, as reported by the issuer.
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct
the vote: 25,613
(ii) shared power to vote or to
direct the vote: 574,251
(iii) sole power to dispose or to
direct the disposition of: 25,613
(iv) shared power to dispose or to
direct the disposition of: 184,399
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:
If any other person is known to have the right to receive or
the power to direct the receipt of dividends from, or the
proceeds from the sale of, such securities, a statement to that
effect should be included in response to this item and, if such
interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an
investment company registered under the Investment Company Act of
1940 or the beneficiaries of employee benefit plan, pension fund
or endowment fund is not required.
The reporting person is a New York banking corporation
(herein referred to as Bank) wholly owned by the Issuer, a New
York Bank Holding Company (herein referred to as Holding
Company). During the year 1996 said Bank in various fiduciary
capacities acquired and disposed of shares of said Holding
Company.
Among the holdings by the Bank are 226,842 shares of said
Holding Company common stock held by the Bank as trustee of the
Chemung Canal Trust Company Profit Sharing, Savings and
Investment Plan, a qualified Plan. The beneficiary participants
of said Plan are employees of the Bank. Said holdings are
further reported on a separate Schedule 13G filed by the Bank as
Trustee of said Plan.
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security being Reported on By the Parent Holding
Company:
NOT APPLICABLE
If a parent holding company has filed this schedule,
pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and
attach an exhibit stating the identity and the Item 3
classification of the relevant subsidiary. If a parent holding
company has filed this schedule pursuant to Rule 13d-1(c), attach
an exhibit stating the identification of the relevant subsidiary.
Item 8 Identification and Classification of Members of the Group:
NOT APPLICABLE
If a group has filed this schedule pursuant to Rule
13d-1(b)(ii)(H), so indicate under Item 3(h) and attach an
exhibit stating the identity and Item 3 classification of each
member of the group. If a group has filed this schedule pursuant
to Rule 13d-1(c), attach an exhibit stating the identity of each
member of the group.
Item 9 Notice of Dissolution of Group:
NOT APPLICABLE
Notice of dissolution of a group may be furnished as an
exhibit stating the date of the dissolution and that all further
filings with respect to transactions in the securities reported
on will be filed, if required by members of the group in their
individual capacity.
Item 10 Certification:
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.
Dated: January 31, 1997.
Signature: By: /s/ John W. Bennett
Name/Title: John W. Bennett, Chairman of the Board
and Chief Executive Officer
The following certification shall be included if the
statement is filed pursuant to Rule 13d-1(b).
By signing below I certify that, to the best of my 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 purposes or effect.
Signature:
By: /s/ John W. Bennett
John W. Bennett, Chairman of the Board
1 and Chief Executive Officer
___________________
1*The original statement shall be signed by each person on whose
behalf the statement is filed or his authorized representative. If the
statement is signed on behalf of a person by his authorized representative
(other than an executive officer or gerneral partner of the filing person),
evidence of the representative's authority to sign on behalf of such person
shall be filed with the statment, provided, however, that a power of
attorney for this purpose which is already on file with the Commission may
be incorporated by reference. The name and any title of each person who
signs the statement shall be typed or printed beneath his signature.
