SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13G
under the Securities Exchange Act of 1934
(Amendment No. 1)
______________________
CHARTER POWER SYSTEMS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(Title of Class
of Securities)
161322 10 2
(CUSIP Number of Class
of Securities)
______________________
Check the following box if a fee is being paid with the statement
_____. (A fee is not required only if the reporting 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.)
Cusip No. 161322 10 2
(1) Electra Investment Trust P.L.C.
(2) (a)
(b) [X]
(4) United Kingdom
(5) None
(6) None
(7) None
(8) None
(9) 7,622
(11) 0.1%
(12) CO
<PAGE>
Item 1(a). Name of Issuer:
Charter Power Systems, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
3043 Walton Road
Plymouth Meeting, Pennsylvania 19462
Item 2(a). Name of Person Filing:
Electra Investment Trust P.L.C.
Item 2(b). Address of Principal Business Office:
65 Kingsway
London WC2B 6QT, England
Item 2(c). Citizenship:
United Kingdom
Item 2(d). Title of Class of Securities:
Common Stock, par value $.01 per share.
Item 2(e). CUSIP Number:
161322 10 2
Item 3. Inapplicable.
Item 4. Ownership:
Item 4(a). Amount of Beneficially Owned:
[Original Schedule 13G: 298,762 shares]
Item 4(a) of the Schedule 13G is hereby amended by deleting the
text thereof in its entirety and replacing it with "7,622
shares."
Item 4(b). Percent of Class:
[Original Schedule 13G: 5.7%]
Item 4(a) of the Schedule 13G is hereby amended by deleting the
text thereof in its entirety and replacing it with "0.1% shares."
Item 4(c). Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
None.(1)
(ii) shared power to vote or direct the vote:
None.(1)
(iii) sole power to dispose or direct the disposition of:
None.(1)
(iv) shared power to dispose or to direct the disposition of:
None.(1)
Item 5. Ownership of Five Percent or Less of a Class:
Inapplicable.
Item 6. Ownership of More than 5% on Behalf of Another Person:
Inapplicable.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the Parent
Holding Company:
Inapplicable.
Item 8. Identification and Classification of Members of the
Group:
Inapplicable.
Item 9. Notice of Dissolution of Group:
Inapplicable.
Item 10. Certification:
Inapplicable.
Note:
(1) Electra Investment Trust, P.L.C. ("Electra") is a party to
an Investment Management Agreement for a term expiring December
31, 1996 with Charterhouse Group International, Inc.
("Charterhouse"), pursuant to which Charterhouse manages certain
investments, including the investment in Common Stock of the
Company on behalf of Electra and, in connection therewith, is
granted authority to vote and dispose of those investments.
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.
Date: February 14, 1996
ELECTRA INVESTMENT TRUST P.L.C.
By: CHARTERHOUSE GROUP INTERNATIONAL, INC.*
By: /s/ Jerome L. Katz
President and
Co-Chief Executive Officer
* Attorney-in-fact (power of attorney filed with the original
Schedule 13G)
