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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
INTERLAKE CORPORATION
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
458702 10 7
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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).
(Continued on following page(s))
Page 1 of 7 pages
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CUSIP No. 458702 10 7 13G Page 2 of 7 pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Longwood Investment Advisors, Inc.
23-2745059
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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. CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
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5. SOLE VOTING POWER
0
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NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 3,099,000
OWNED BY ___________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ___________________________________________________________
8. SHARED DISPOSITIVE POWER
3,099,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,099,000
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.4%
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12. TYPE OF REPORTING PERSON*
IA
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CUSIP No. 458702 10 7 13G Page 3 of 7 pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert A. Davidson
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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. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. SOLE VOTING POWER
62,000
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NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 3,099,000
OWNED BY ___________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 62,000
WITH ___________________________________________________________
8. SHARED DISPOSITIVE POWER
3,099,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,161,000
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.6%
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12. TYPE OF REPORTING PERSON*
IN
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CUSIP No. 458702 10 7 13G Page 4 of 7 pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John P. McNiff
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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. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. SOLE VOTING POWER
108,000
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NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 3,099,000
OWNED BY ___________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 108,000
WITH ___________________________________________________________
8. SHARED DISPOSITIVE POWER
3,099,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,207,000
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.8%
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12. TYPE OF REPORTING PERSON*
IN
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CUSIP No. 458702 10 7 13G Page 5 of 7 pages
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Item 1(a) Name of Issuer
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The Interlake Corporation
Item 1(b) Address of Issuer's Principal Executive Offices
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The Interlake Corporation
550 Warrenville Road
Lisle, Illinois 60532-4387
Item 2(a) Name of Person Filing
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This statement is filed on behalf of (i) Longwood Investment
Advisors, Inc., a Pennsylvania corporation ("LIA"), (ii) Robert
A. Davidson and (iii) John P. McNiff. LIA is registered as an
investment adviser under the Investment Advisers Act of 1940, as
amended. Robert A. Davidson is Chief Investment Officer and a
Managing Director of LIA and is responsible for the selection,
acquisition and disposition of securities on behalf of LIA. John
P. McNiff is President and a Managing Director of LIA and, as
such, shares responsibility with Mr. Davidson for the
selection and disposition of securities on behalf of LIA.
Item 2(b) Address of Principal Business Office, or, if none, Residence
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Longwood Investment Advisors, Inc.
Three Radnor Corporate Center
Suite 300
100 Matsonford Road
Radnor, Pennsylvania 19087
Item 2(c) Citizenship
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Pennsylvania
Item 2(d) Title of Class of Securities
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Common Stock
Item 2(e) CUSIP Number
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458702 10 7
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CUSIP No. 458702 10 9 13G Page 6 of 7 pages
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Item 3 If this statement if 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) [ ] Investment Company registered under section 8 of the
Investment Company Act
(e) [x] 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
(g) [ ] Parent Holding Company, in accordance with 240.13d-1(b)(ii)(G)
(h) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(H)
Item 4 Ownership
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(a) and (b) LIA beneficially owned an aggregate of 3,099,000 shares of the
issuer's common stock, or approximately 14.1% of the shares outstanding as of
December 31, 1997.
(c) LIA has shared power to vote or direct the vote, and shared power to
dispose or to direct the disposition of, 3,099,000 shares of the issuer's common
stock. Robert A. Davidson and John P. McNiff have shared power to dispose or
direct the disposition of 3,099,000 shares of the common stock by virtue of
being responsible for the selection, acquisition and disposition of the
portfolio securities on behalf of LIA. Mr. Davidson has sole power to vote or
direct the vote, and sole power to dispose or direct the disposition of, 62,000
shares of the issuer's common stock. Mr. McNiff has the sole power to vote or
direct the vote, and sole power to dispose or direct the disposition of 108,000
shares of the issuer's common stock.
Item 5 Ownership of Five Percent or Less of a Class
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Not applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person
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Except with respect to the 62,000 shares beneficially owned by Mr. Davidson
and the 108,000 shares beneficially owned by Mr. McNiff, other persons have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, the issuer's shares which are the subject of this
Amendment to Schedule 13G. Of such shares, Longwood Partners, L.P., of which LIA
is the investment advisor, has such right with respect to 1,845,368 shares.
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CUSIP No. 458702 10 9 13G Page 7 of 7 pages
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Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
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Not Applicable
Item 8 Identification and Classification of Members of the Group
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Not Applicable
Item 9 Notice of Dissolution of Group
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Not Applicable
Item 10 Certification
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Each of the undersigned certifies that, to the best of its or his
knowledge and belief, the securities referred to above 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 purpose of effect.
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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.
February 13, 1998
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Date
Longwood Investment Advisors, Inc.
By: /s/ John P. McNiff
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John P. McNiff, President
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Name/Title
/s/ Robert A. Davidson
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Signature
Robert A. Davidson
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Name/Title
/s/ John P. McNiff
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John P. McNiff
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Name/Title
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EXHIBIT "A"
Joint Filing Agreement
The undersigned agree that the foregoing amendment No. 2 to Schedule
13G, dated February 13, 1998 is being filed with the Securities and Exchange
Commission on behalf of each of the undersigned pursuant to Rule 13d-1(f).
Dated: February 13, 1998
LONGWOOD INVESTMENT ADVISORS, INC.
By: /s/ John P. McNiff
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John P. McNiff, President
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Name/Title
/s/ Robert A. Davidson
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Robert A. Davidson
Name/Title
/s/ John P. McNiff
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John P. McNiff
Name/Title
