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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 9)
The Chicago Dock and Canal Trust
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
1673391
(CUSIP Number)
Fred Eychaner, c/o Newsweb Corporation, 1645 W. Fullerton Avenue,
Chicago, IL 60614 (312) 975-0400
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
December 20, 1996
(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 [ ].
Check the following box if a fee is being paid with the statement
[ ]. (A fee is not required only if the reporting 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.)
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).
SCHEDULE 13D
CUSIP No. 1673391
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fred Eychaner (S.S.# ###-##-####)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(E) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
7 SOLE VOTING POWER
533,200
8 SHARED VOTING POWER
- -100-
9 SOLE DISPOSITIVE POWER
533,200
10 SHARED DISPOSITIVE POWER
- -100-
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
533,300
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.2%
14 TYPE OF REPORTING PERSON*
IN
SCHEDULE 13D
CUSIP No. 1673391
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Newsweb Corporation (I.R.S.# 362728759)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(E) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
7 SOLE VOTING POWER
- -0-
8 SHARED VOTING POWER
- -100-
9 SOLE DISPOSITIVE POWER
- -0-
10 SHARED DISPOSITIVE POWER
- -100-
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.002%
14 TYPE OF REPORTING PERSON*
CO
Item 1. Security and Issuer
In accordance with Rule 101 (a)(2)(i) of Regulation S-T of the
Securities Exchange Act of 1934, as amended, this Amendment No. 9
hereby amends and supplements the statement of Schedule 13D, dated
January 24, 1995, as amended and restated in its entirety by
Amendment No. 1 dated June 16, 1995, as amended and supplemented by
Amendment No. 2 dated July 28, 1995, as amended and supplemented by
Amendment No. 3 dated November 3, 1995, as amended and supplemented
by Amendment No. 4 dated March 4, 1996, as amended and supplemented
by Amendment No. 5 dated June 20, 1996, as amended and supplemented
by Amendment No. 6 dated October 1, 1996, as amended and
supplemented by Amendment No. 7 dated December 10, 1996 and as
amended and supplemented by Amendment No. 8 dated December 19, 1996
(the "Schedule 13D"), filed by Fred Eychaner individually and on
behalf of Newsweb Corporation, relating to the shares of Common
Stock, no par value (the "Common Stock" or the "Shares") of the
Chicago Dock and Canal Trust (the "Company") with its principal
executive offices located at 455 East Illinois Street, Suite 565,
Chicago, Illinois 60611. Capitalized terms used herein and not
otherwise defined shall have the meaning ascribed to such terms in
the Schedule 13D.
Item 4. Purpose of Transaction
Item 4 hereby is amended to add the following paragraph at the end
of such section:
On December 20, 1996, the Circuit Court of Cook County, Illinois
denied Newsweb's request for a preliminary injunction which would
enjoin McLean from presenting any proposal relating to the
acquisition of the Company, and enjoin the Company and its trustees
from submitting the December 13, 1996 McLean proposal to the
Company's shareholders. The Court did, however, retain
jurisdiction over damages which it specifically noted were not
limited to the $3,500,000 termination fee plus up to $750,000 in
expenses should the Trust accept Cityfront's proposal.
Also on December 20, 1996, Newsweb announced that it submitted a
proposal to revise its merger agreement with The Chicago Dock and
Canal Trust to, among other things, increase the acquisition price
to $23.00 per share. On December 21, 1996, Newsweb Corporation
received an additional notice from the Company purporting to be a
Notice of Superior Proposal for purposes of the Merger Agreement.
Item 5. Interest in Securities of the Issuer
(a) Eychaner beneficially owns 533,300 Shares representing 9.2% of
the outstanding Shares.
(b) Eychaner has the sole power to vote and the sole power to
dispose of 533,200 Shares. Eychaner has the shared power to vote
and the shared power to dispose of 100 Shares. Newsweb Corporation
has the sole power to dispose of -0- Shares. Newsweb has the
shared power to vote and the shared power to dispose of 100 Shares.
(c) No other person has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of
such securities.
(d) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer
Item 6 hereby is amended to add the paragraph added to Item 4
hereby at the end of such section.
Item 7. Material to be filed as Exhibits
A copy of the December 20, 1996 press release is attached hereto
as Exhibit 1.
Signatures
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: December 20, 1996
/s/ FRED EYCHANER
- -----------------------
Fred Eychaner
NEWSWEB CORPORATION
/s/ FRED EYCHANER
- -----------------------
Fred Eychaner, President
FOR IMMEDIATE RELEASE
From: Newsweb Corporation
1645 West Fullerton
Chicago, Illinois
(312) 975-0400
Contact: Charles Frank Gross
NEWSWEB CORPORATION SUBMITS REVISED PROPOSAL FOR THE CHICAGO
DOCK AND CANAL TRUST (NASDAQ/DOCKS); COMMENTS ON LAWSUIT
CHICAGO, December 20, 1996 -- Newsweb Corporation announced that it
has submitted a proposal to revise its merger agreement with The
Chicago Dock and Canal Trust to, among other things, increase the
acquisition price to $23.00 per share.
Newsweb Corporation also commented on the proceedings today before
Judge Stephen Schiller of the Circuit Court of Cook County in the
case brought by Newsweb against Cityfront Center, L.L.C., the Trust
and its Trustees.
Newsweb stated that although no injunction prevents the Trust or
Cityfront Center, L.L.C. from pursuing Cityfront's $23.00 per share
offer, the Court specifically noted that Newsweb was not limited to
$3,500,000 plus up to $750,000 in expenses should the Trust accept
Cityfront's proposal. The Court ruled Newsweb also had a damages
claim in addition to the termination fee. Newsweb believes its
damages from Cityfront's and the Trust's breach of their duties to
Newsweb will be substantial. Newsweb will pursue all of its
remedies vigorously. Judge Schiller set the case for further
status on January 3, 1997 at 10:00 a.m.
