UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __________)*
First Albany Companies Inc.
(Name of Issuer)
Common Stock, par value $.01
(Title of Class of Securities)
318465-10-1
(CUSIP Number)
Check the following box if a fee is being paid with this Statement X. (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).
CUSIP No. 318465-10-1 13G
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- --------------------------------------------------------------------------------
McNamee Family Trust
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
- --------------------------------------------------------------------------------
(a) [_]
(b) [_]
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
- --------------------------------------------------------------------------------
New York
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
- --------------------------------------------------------------------------------
328,524
6. SHARED VOTING POWER
- --------------------------------------------------------------------------------
0
7. SOLE DISPOSITIVE POWER
- --------------------------------------------------------------------------------
328,524
8. SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- --------------------------------------------------------------------------------
328,524
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
- --------------------------------------------------------------------------------
7.25
12. TYPE OF REPORTING PERSON*
- --------------------------------------------------------------------------------
OO
*SEE INSTRUCTION BEFORE FILLING OUT!
Item 1 (a) Name of Issuer:
The Schedule 13G relates to First Albany Companies Inc. (the
"Company").
Item 1 (b) Address of Issuer's Principal Executive Offices:
The Company maintains its principal executive offices at 41 State
Street, Albany, New York 12201-0052.
Item 2 (a) Name of Person Filing:
The Schedule 13G is filed by the McNamee Family Trust
(the"Trust").
Item 2 (b) Address of Principal Business Office or, if none, Residence:
The principal business office of the Trust is Box 178 Hickory
Hill, Rensselaerville, New York 12147-2841.
Item 2 (c) Citizenship:
New York
Item 2 (d) Title of Class of Securities:
The Schedule 13G relates to shares of Common Stock, par value
$.01, of the Company.
Item 2 (e) CUSIP Number:
318465-10-1
Item 3 If this statement is filed pursuant to Rules 13d-1(b) or
13d-2(b), check whether the person filing is a:
This item is not applicable.
Item 4 Ownership:
(a) Amount Beneficially Owned:
See Item 9 on Page 2 of the Cover Page.
(b) Percent of Class
See Item 11 on Page 2 of the Cover page.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
See Item 5 on Page 2 of the cover Page.
(ii) shared power to vote or to direct the vote:
See Item 6 on Page 2 of the Cover Page.
(iii) sole power to dispose or to direct the disposition of:
See Item 7 on Page 2 of the Cover Page.
(iv) shared power to dispose or to direct the disposition of:
See Item 8 on Page 2 of the Cover Page.
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.
Not applicable.
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.
Item 11 Disclaimer of Beneficial Ownership
The filing of this Schedule 13G shall not be construed as an
admission that the Trustees are for the purposes of Section 13(d)
or 13(g) of the Securities Exhcange Act of 1934 the beneficial
owners of the securities covered by this Schedule 13G.
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.
Date: February 14, 1996
MCNAMEE FAMILY TRUST
/s/ Michael R. Lindburg
_______________________
Michael R. Lindburg on behalf of Barbara CM
Dudley, Trustee
