<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Porta Systems Corp.
- ------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- ------------------------------------------------------------------------------
(Title of Class of Securities)
735647307
- ------------------------------------------------------------------------------
(CUSIP Number)
CUSIP No. 735647307 Page 1 of 7 Pages
1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of above
persons
PNC Bank Corp. 25-1435979
2) Check the Appropriate Box if a Member of a Group (See Instructions)
a) [ ]
b) [ ]
3) SEC USE ONLY
4) Citizenship or Place of Organization Pennsylvania
Number of Shares 5) Sole Voting Power 784,407
Beneficially Owned
By Each Reporting
Person With 6) Shared Voting Power 0
7) Sole Dispositive Power 784,407*
8) Shared Dispositive Power 0
9) Aggregate Amount Beneficially Owned by Each Reporting Person
784,407
10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [ ]
11) Percent of Class Represented by Amount in Row (9) 9.1+
12) Type of Reporting Person (See Instructions) HC
* See response to Item 4.
+ Reflects correction from percentage previously
reported.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Porta Systems Corp.
- ------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- ------------------------------------------------------------------------------
(Title of Class of Securities)
735647307
- ------------------------------------------------------------------------------
(CUSIP Number)
CUSIP No. 735647307 Page 2 of 7 Pages
1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
above persons
PNC Bancorp, Inc. 51-0326854
2) Check the Appropriate Box if a Member of a Group (See Instructions)
a) [ ]
b) [ ]
3) SEC USE ONLY
4) Citizenship or Place of Organization Delaware
Number of Shares 5) Sole Voting Power 784,407
Beneficially Owned
By Each Reporting
Person With 6) Shared Voting Power 0
7) Sole Dispositive Power 784,407*
8) Shared Dispositive Power 0
9) Aggregate Amount Beneficially Owned by Each Reporting Person
784,407
10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) [ ]
11) Percent of Class Represented by Amount in Row (9) 9.1+
12) Type of Reporting Person (See Instructions) HC
* See response to Item 4.
+ Reflects correction from percentage previously
reported.
<PAGE> 3
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Porta Systems Corp.
- ------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- ------------------------------------------------------------------------------
(Title of Class of Securities)
735647307
- ------------------------------------------------------------------------------
(CUSIP Number)
CUSIP No. 735647307 Page 3 of 7 Pages
1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of above
persons
PNC Bank, National Association 22-1146300
2) Check the Appropriate Box if a Member of a Group (See Instructions)
a) [ ]
b) [ ]
3) SEC USE ONLY
4) Citizenship or Place of Organization United States
Number of Shares 5) Sole Voting Power 784,407
Beneficially Owned
By Each Reporting
Person With 6) Shared Voting Power 0
7) Sole Dispositive Power 784,407*
8) Shared Dispositive Power 0
9) Aggregate Amount Beneficially Owned by Each Reporting Person
784,407
10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [ ]
11) Percent of Class Represented by Amount in Row (9) 9.1+
12) Type of Reporting Person (See Instructions) BK
* See response to Item 4.
+ Reflects correction from percentage previously reported.
<PAGE> 4
This Amendment No. 1 is being filed to correct the "Percent of Class"
previously reported as beneficially owned on the Schedule 13G filed on January
12, 1998. Such percentage was based on an outdated outstanding shares amount.
The corrected percentage is based on 8,613,336 outstanding shares of common
stock of Porta Systems Corp.
ITEM 1(a) - NAME OF ISSUER: Porta Systems Corp.
ITEM 1(b) - ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
575 Underhill Boulevard, Syosset, New York 11791
ITEM 2(a) - NAME OF PERSON FILING:
PNC Bank Corp.; PNC Bancorp, Inc.; and PNC Bank, National Association
ITEM 2(b) - ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE:
PNC Bank Corp., One PNC Plaza, 249 Fifth Avenue, Pittsburgh, PA 15222-2707
PNC Bancorp, Inc., 222 Delaware Avenue, Wilmington, DE 19899
PNC Bank, National Association, One PNC Plaza, 249 Fifth Avenue,
Pittsburgh, PA 15222-2707
ITEM 2(c) - CITIZENSHIP:
PNC Bank Corp. - Pennsylvania
PNC Bancorp, Inc. - Delaware
PNC Bank, National Association - United States
ITEM 2(d) - TITLE OF CLASS OF SECURITIES: Common Stock
ITEM 2(e) - CUSIP NUMBER: 735647307
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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) [ X ] 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) [ ] 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) [ X ] Parent Holding Company, in accordance with Rule 13d-(b)(ii)(G),
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
ITEM 4 - OWNERSHIP:
The following information is as of December 31, 1997:
(a) Amount Beneficially Owned: 784,407 shares
(b) Percent of Class: 9.1+
(c) Number of shares to which such person has:
(i) sole power to vote or to direct the vote 784,407
(ii) shared power to vote or to direct the vote 0
(iii) sole power to dispose or to direct the disposition of 784,407*
(iv) shared power to dispose or to direct the disposition of 0
* Lloyd I. Miller, III has dispositive power with respect to these shares
pursuant an Investment Advisory Agreement dated as of April 1, 1997 with PNC
Bank, National Association, as Trustee. Either party may terminate the
agreement on 30 days' prior written notice.
+ Reflects correction from percentage previously reported.
<PAGE> 6
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:
All 784,407 shares of Common Stock are held in Trust accounts created by an
Amended and Restated Trust Agreement dated September 20, 1983, in which
Lloyd I. Miller, Jr. was Grantor, and for which PNC Bank, National Association
serves as Trustee. Mrs. Catherine Miller Ward may have the right to receive
or the power to direct the receipt of dividends from, or the proceeds from
the sale of, 336,108 shares.
ITEM 7 - IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Included are the following subsidiaries of PNC Bank Corp. - HC:
PNC Bancorp, Inc. - HC (wholly owned subsidiary of PNC Bank Corp.)
PNC Bank, National Association - BK (wholly owned subsidiary of PNC
Bancorp, Inc.)
ITEM 8 - IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9 - NOTICE OF DISSOLUTION OF GROUP.
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.
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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.
January 20, 1998
---------------------------------------------
Date
/s/ Robert L. Haunschild
---------------------------------------------
Signature - PNC Bank Corp.
Robert L. Haunschild, Senior Vice President
and Chief Financial Officer
---------------------------------------------
Name/Title
January 20, 1998
---------------------------------------------
Date
/s/ Paul L. Audet
---------------------------------------------
Signature - PNC Bancorp, Inc.
Paul L. Audet, Vice President
---------------------------------------------
Name/Title
January 20, 1998
---------------------------------------------
Date
/s/ Thomas R. Moore
---------------------------------------------
Signature - PNC Bank, National Association
Thomas R. Moore, Vice President and Secretary
---------------------------------------------
Name/Title
An Agreement to file a joint statement was
previously filed as Exhibit A to the Schedule 13G
filed January 12, 1998.
