UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _)*
Yonkers Financial Corporation
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(Name of Issuer)
Common stock
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(Title of Class of Securities)
986073104
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(CUSIP Number)
*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).
SEC 1745 (2/92) Page 1 of 5 pages
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CUSIP No. 986073104 13G Page 2 of 5 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Financial Fund, Inc.
IRS ID No.: 13-3341573
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /__/
(b) /__/
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
5 SOLE VOTING POWER
NUMBER OF 168,000
SHARES 6 SHARED VOTING POWER
0
BENEFICIALLY
OWNED BY 7 SOLE DISPOSITIVE POWER
0
EACH
REPORTING
PERSON 8 SHARED DISPOSITIVE POWER
168,000
WITH
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
168,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.53%
12 TYPE OF REPORTING PERSON*
IC
SEC 1745 (2/92) Page 2 of 5 pages
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CUSIP No. 986073104 13G Page 3 of 5 Pages
Item 1.
(a) Name of Issuer
Yonkers Financial Corporation
(b) Address of Issuer's Principal Executive Offices
6 Executive Plaza, Yonkers, NY 10701-9858
Item 2.
(a) Name of Person Filing
First Financial Fund, Inc.
(b) Address of Principal Business Office or, if none, Residence
Gateway Center Three
100 Mulberry Street, 9th Floor
Newark, NJ 07102-4077
(c) Citizenship
Maryland Corporation
(d) Title of Class of Securities
Common Stock
(e) CUSIP Number
986073104
Item 3. If this statement is filed pursuant to Rule 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) /__/ 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) /X_/ 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; see
240.13d-l(b)(l)(ii)(F)
(g) /__/ Parent Holding Company, in accordance with
240.13d-l(b)(ii)(G) (Note: See Item 7)
SEC 1745 (2/92) Page 3 of 5 pages
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CUSIP No. 986073104 13G Page 4 of 5 Pages
(h) /__/ Group, in accordance with 240.13d-l(b)(l)(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-l(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
168,000
(b) Percent of Class
5.53%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
168,000
(ii) shared power to vote or to direct the vote
0
(iii) sole power to dispose or to direct the dispostion of
0
(iv) shared power to dispose or to direct the disposition of
168,000
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.
SEC 1745 (2/92) Page 4 of 5 pages
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CUSIP No. 986073104 13G Page 5 of 5 Pages
Item 10. Certification
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.
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.
February 11, 1998
First Financial Fund, Inc.
By: /s/ Stephanie A. Djinis
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Stephanie A. Djinis
Assistant Secretary
SEC 1745 (2/92) Page 5 of 5 pages
