<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.4)*
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)
April 21, 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 6 Pages)
<PAGE> 2
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CUSIP NO. 868666207 13D/A PAGE 2 OF 6 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*
WC
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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
519,300
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
0
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
519,300
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PERSON WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
519,300
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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)
9.0%
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14 TYPE OF REPORTING PERSON*
IA, PN
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(Page 2 of 6 Pages)
<PAGE> 3
This Amendment No. 4 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, by Amendment No. 2 filed on February
9, 1999, and by Amendment No. 3 filed on February 25, 1999, has been prepared to
report the purchase and 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 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION
Item 3 is hereby amended to include the following:
All of the funds used to make the purchases of additional Shares acquired
by the Reporting Person (as set forth on Exhibit A hereto) came from the
working capital of the investment funds and managed accounts directed by the
Reporting Person.
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 519,300 shares of Common
Stock deemed beneficially owned by the Reporting Person, which constitute
approximately 9.0% of the issued and outstanding shares of Common Stock.
(b) The Reporting Person has sole voting and dispositive power with
respect to 519,300 shares of Common Stock.
(c) In the past 60 days, accounts managed by the Reporting Person
purchased and 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 purchases and sales were made on the open market.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A: Transactions in Shares of Common Stock in Past 60 Days.
(Page 3 of 6 Pages)
<PAGE> 4
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: April 23, 1999
CARLSON CAPITAL, L.P.
/s/ Clint D. Carlson
-------------------------------------------------------
By: Clint D. Carlson, President of the General Partner
(Page 4 of 6 Pages)
<PAGE> 5
EXHIBIT A
Transactions in Shares of Common Stock
In Past 60 Days
<TABLE>
<CAPTION>
Transactions by Account No. 1
- ------------------------------
========================================================================
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 03/01/99 -1,175.0 3.1250
------------------------------------------------------------------------
BUY 04/05/99 840.0 1.5179
------------------------------------------------------------------------
BUY 04/06/99 800.0 1.5625
------------------------------------------------------------------------
BUY 04/21/99 525.0 1.3750
========================================================================
</TABLE>
<TABLE>
<CAPTION>
Transactions by Account No. 2
- -----------------------------
========================================================================
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 03/01/99 -3,935.0 3.1250
------------------------------------------------------------------------
SELL 03/15/99 -2,500.0 2.9000
------------------------------------------------------------------------
BUY 04/01/99 3,900.0 1.6250
------------------------------------------------------------------------
BUY 04/05/99 4,620.0 1.5179
------------------------------------------------------------------------
BUY 04/06/99 4,000.0 1.5625
========================================================================
</TABLE>
<TABLE>
<CAPTION>
Transactions by Account No. 3
- -----------------------------
========================================================================
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 03/01/99 -7,440.0 3.1250
------------------------------------------------------------------------
SELL 03/15/99 -5,000.0 2.9000
------------------------------------------------------------------------
BUY 03/31/99 1,500.0 1.5625
------------------------------------------------------------------------
BUY 04/05/99 8,400.0 1.5179
------------------------------------------------------------------------
BUY 04/06/99 8,000.0 1.5625
------------------------------------------------------------------------
BUY 04/21/99 57,025.0 1.3750
========================================================================
</TABLE>
(Page 5 of 6 Pages)
<PAGE> 6
EXHIBIT A
Transactions in Shares of Common Stock
In Past 60 Days
<TABLE>
<CAPTION>
Transactions by Account No. 5
- -----------------------------
========================================================================
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 03/01/99 -4,660.0 3.1250
------------------------------------------------------------------------
SELL 03/12/99 -2,000.0 2.9375
------------------------------------------------------------------------
SELL 03/15/99 -2,500.0 2.9000
------------------------------------------------------------------------
BUY 04/05/99 4,620.0 1.5179
------------------------------------------------------------------------
BUY 04/06/99 4,000.0 1.5625
========================================================================
</TABLE>
<TABLE>
<CAPTION>
Transactions by Account No. 6
- -----------------------------
========================================================================
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 03/01/99 -1,325.0 3.1250
------------------------------------------------------------------------
BUY 04/05/99 1,260.0 1.5179
------------------------------------------------------------------------
BUY 04/06/99 1,600.0 1.5625
------------------------------------------------------------------------
BUY 04/21/99 2,595.0 1.3750
========================================================================
</TABLE>
<TABLE>
<CAPTION>
Transactions by Account No. 7
- -----------------------------
========================================================================
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
------------------------------------------------------------------------
<S> <C> <C> <C>
SELL 03/01/99 -1,465.0 3.1250
------------------------------------------------------------------------
BUY 04/05/99 1,260.0 1.5179
------------------------------------------------------------------------
BUY 04/06/99 1,600.0 1.5625
------------------------------------------------------------------------
BUY 04/21/99 9,515.0 1.3750
========================================================================
</TABLE>
<TABLE>
<CAPTION>
Transactions by Account No. 8
- -----------------------------
========================================================================
Trade Type Trade Date Quantity Price ($)
---------- ---------- -------- ---------
------------------------------------------------------------------------
<S> <C> <C> <C>
BUY 04/16/99 15,000.0 1.2500
------------------------------------------------------------------------
BUY 04/21/99 82,040.0 1.3750
========================================================================
</TABLE>
(Page 6 of 6 Pages)
