Page 1 of 8 Pages
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 0)
Providence and Worcester Railroad Company
-----------------------------------------
(Name of Issuer)
Common Stock
--------------------------------
(Title of Class of Securities)
743737108
--------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement ___. (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 the respect to the subject of 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).
<PAGE>
CUSIP No. 743737108 13G/A Page 2 of 8 Pages
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steinberg Asset Management Company, Inc.
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) { }
(b) { }
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
--------- ----------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 102,700
BENEFICIALLY --------- --------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING 0
PERSON --------- --------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
102,700
--------- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
102,700
--------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.40%
--------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 743737108 13G/A Page 3 of 8 Pages
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael A. Steinberg & Company, Inc.
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) { }
(b) { }
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
--------- ----------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------- --------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING 0
PERSON --------- --------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
31,700
--------- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,700
--------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.74%
--------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BD
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 743737108 13G/A Page 4 of 8 Pages
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael A. Steinberg
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) { }
(b) { }
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
--------- ----------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 98,000
BENEFICIALLY --------- --------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING 0
PERSON --------- --------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
98,000
--------- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
98,000
--------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.29%
--------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
SCHEDULE 13G Page 5 of 8
------------
Item 1 (a) Name of Issuer:
Providence and Worcester Railroad Company
(b) Address of Issuer's Principal Executive Offices:
75 Hammond Street
Worcester MA 01610
Item 2 (a) Name of Person Filing:
1. Steinberg Asset Management Co., Inc.
2. Michael A. Steinberg & Co., Inc.
3. Michael A. Steinberg
(b) Address of Principal Business Office:
12 East 49th Street, New York, NY 10017
(c) Citizenship:
1. State of Delaware
2. State of Delaware
3. State of New York
(d) Title of Class of Securities:
Common Stock
(e) Cusip Number:
743737108
Item 3 If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [X] 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 redistered under section 8 of the
Investment Company Act
(e) [X] Investment Advisor registered under Section 203 of the
Investment Advisors 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 Section 240.13d-1(b)
(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G)
(h) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)
<PAGE>
Page 6 of 8 Pages
Item 4 Ownership:
(a) Amount beneficially owned: 232,400
(b) Percent of Class: 5.43%
(c) Number of Shares as to which such person has
(i) Sole power to vote or to direct the vote: 200,700
(ii) Shared power to vote or direct the vote: none
(iii)Sole power to dispose or direct the disposition: 232,400
(iv) Shared power to dispose or direct the disposition of: none
Item 5 Ownership of Five Percent or less of a Class, Not Applicable
Item 6 No client or other person known to the Reporting Persons has an
interest that relates to 5% or more of this Security.
Item 7 Not Applicable
Item 8 Not Applicable
Item 9 Not Applicable
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.
<PAGE>
Page 7 of 8 Pages
Exhibit A
Michael A. Steinberg may be deemed to have beneficial ownership of the
securities beneficially owned by Steinberg Asset Management Company, Inc.,
and Michael A. Steinberg & Company, Inc. In addition, the securities
reported as beneficially owned by Michael A. Steinberg include securities
held by Mr. Steinberg's wife and children.
<PAGE>
Page 8 of 8 Pages
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.
8/28/00
-------
Date
/s/ Steve Feld
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Signature
Steven Feld - Vice President
----------------------------
Name/Title
