<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D/A
(RULE 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
SURETY CAPITAL CORPORATION
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
868666207
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(CUSIP number)
Howard B. Adler, Esq.
Gibson, Dunn & Crutcher LLP
1050 Connecticut Avenue, N.W.
Washington, D.C. 20036
(202) 955-8589
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(Name, address and telephone number of person
authorized to receive notices and communications)
February 11, 1999
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(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(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
Note. Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7(b) 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).
(Page 1 of 10 Pages)
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CUSIP NO. 868666207 13D/A Page 2 of 10 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CARLSON CAPITAL, L.P. I.R.S. IDENTIFICATION NO. 75-249-4317
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NONE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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NUMBER OF 7 SOLE VOTING POWER
SHARES
338,200
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
0
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
338,200
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PERSON WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
338,200
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.9%
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14 TYPE OF REPORTING PERSON*
IA, PN
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(Page 2 of 10 Pages)
<PAGE> 3
This Amendment No. 3 to the original statement of beneficial ownership
on Schedule 13D filed by the Reporting Person on August 27, 1998, as amended by
Amendment No. 1 filed on December 9, 1998 and by Amendment No. 2 filed on
February 9, 1999, has been prepared to report the sale by the Reporting Person
of shares of the Issuer. Defined terms used herein that are not otherwise
defined herein have the meanings ascribed to them in the Reporting Person's
original Schedule 13D filing or amendments thereto, as applicable.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Items 5(a), (b) and (c) are hereby amended as follows:
(a) This statement on Schedule 13D relates to 338,200 shares of Common
Stock deemed beneficially owned by the Reporting Person, which constitute
approximately 5.9% of the issued and outstanding shares of Common Stock.
(b) The Reporting Person has sole voting and dispositive power with
respect to 338,200 shares of Common Stock.
(c) Since the date of Amendment No. 2 to the original Schedule 13D,
accounts managed by the Reporting Person sold shares of Common Stock on the
dates, in the amounts and at the prices set forth on Exhibit A annexed hereto
and incorporated by reference herein. All of such sales were made on the open
market.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A: Transactions in Shares of Common Stock since Amendment
No. 2 to the Schedule 13D.
(Page 3 of 10 Pages)
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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.
Dated: February 24, 1999
CARLSON CAPITAL, L.P.
/s/ Clint D. Carlson
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By: Clint D. Carlson, President of the General Partner
(Page 4 of 10 Pages)
<PAGE> 5
EXHIBIT A
Transactions in Shares of Common Stock
Since Amendment No. 2 to Schedule 13D
Transactions by Account No. 1
<TABLE>
<CAPTION>
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Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
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<S> <C> <C> <C>
SELL 02/09/99 -335.0 2.8750
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SELL 02/10/99 -675.0 2.8750
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SELL 02/10/99 -680.0 2.8750
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SELL 02/11/99 -1,695.0 2.8750
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</TABLE>
(Page 5 of 10 Pages)
<PAGE> 6
EXHIBIT A
Transactions in Shares of Common Stock
Since Amendment No. 2 to Schedule 13D
Transactions by Account No. 2
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
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<S> <C> <C> <C>
SELL 02/05/99 -3,965.0 2.9886
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SELL 02/09/99 -435.0 2.8750
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SELL 02/10/99 -870.0 2.8750
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SELL 02/10/99 -865.0 2.8750
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SELL 02/11/99 -2,160.0 2.8750
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</TABLE>
(Page 6 of 10 Pages)
<PAGE> 7
EXHIBIT A
Transactions in Shares of Common Stock
Since Amendment No. 2 to Schedule 13D
Transactions by Account No. 3
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 02/09/99 -3,190.0 2.8750
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SELL 02/10/99 -6,370.0 2.8750
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SELL 02/10/99 -6,370.0 2.8750
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SELL 02/11/99 -15,930.0 2.8750
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</TABLE>
(Page 7 of 10 Pages)
<PAGE> 8
EXHIBIT A
Transactions in Shares of Common Stock
Since Amendment No. 2 to Schedule 13D
Transactions by Account No. 5
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 02/05/99 -4,460.0 2.9886
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SELL 02/09/99 -620.0 2.8750
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SELL 02/10/99 -1,240.0 2.8750
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SELL 02/10/99 -1,235.0 2.8750
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SELL 02/11/99 -3,085.0 2.8750
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</TABLE>
(Page 8 of 10 Pages)
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EXHIBIT A
Transactions in Shares of Common Stock
Since Amendment No. 2 to Schedule 13D
Transactions by Account No. 6
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 02/05/99 -1,210.0 2.9886
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SELL 02/09/99 -205.0 2.8750
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SELL 02/10/99 -410.0 2.8750
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SELL 02/10/99 -415.0 2.8750
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SELL 02/11/99 -1,035.0 2.8750
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</TABLE>
(Page 9 of 10 Pages)
<PAGE> 10
EXHIBIT A
Transactions in Shares of Common Stock
Since Amendment No. 2 to Schedule 13D
Transactions by Account No. 7
<TABLE>
<CAPTION>
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Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
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<S> <C> <C> <C>
SELL 02/05/99 -1,365.0 2.9886
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SELL 02/09/99 -215.0 2.8750
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SELL 02/10/99 -435.0 2.8750
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SELL 02/10/99 -435.0 2.8750
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SELL 02/11/99 -1,095.0 2.8750
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</TABLE>
(Page 10 of 10 Pages)
