SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
AMENDMENT NO. 1 TO SCHEDULE 13D
Under the Securities Exchange Act of 1934
GALAXY CABLEVISION, L.P.
(Name of issuer)
LIMITED PARTNERSHIP UNITS
(Title of class of securities)
363170101
(CUSIP number)
FIR TREE PARTNERS
1211 Avenue of the Americas
29th Floor
New York, New York 10036
Tel. No.: (212)398-3500
(Name, address and telephone number of person
authorized to receive notices and communications)
MARCH 20, 1996
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box. [ ]
Check the following box if a fee is being paid with this statement. [ ]
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, as amended ("Act"), or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act.
1
CUSIP No. 456160100
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1 NAME OF REPORTING PERSONS St. James Capital Corp.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ]
(b)[ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF, WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER 188,200
SHARES ------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 188,200
REPORTING ------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
188,200
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.8%
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14 TYPE OF REPORTING PERSON
CO, IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
2
AMENDMENT NO. 1 TO SCHEDULE 13D
This Amendment No. 1 ("Amendment No. 1") to Schedule 13D is
being filed on behalf of Fir Tree, Inc., a New York Corporation, doing business
as Fir Tree Partners ("Fir Tree Partners"), and Mr. Jeffrey Tannenbaum ("Mr.
Tannenbaum"), the sole shareholder, executive officer, director, and principal,
as an amendment to the initial statement on Schedule 13D, relating to Limited
Partnership Units of Galaxy Cablevision, L.P. (the "Issuer"), as filed with the
Securities and Exchange Commission on December 21, 1995 (the "Initial
Statement").
This Amendment No. 1 relates to Limited Partnership Units of
the Issuer purchased by Fir Tree Partners for the account of the Fir Tree Value
Fund, L.P. ("Fir Tree Value Fund"), of which Mr. Tannenbaum is the general
partner.
ITEM 1. SECURITY AND ISSUER
Securities acquired: Shares of Limited Partnership Units
Issuer:c/o Galaxy Cablevision Management, Inc.
1220 North Main
Sikeston, MO 63801
Tel. No. (314)471-3080
ITEM 2. IDENTITY AND BACKGROUND
Fir Tree, Inc., a New York corporation, doing business as Fir
Tree Partners, provides investment management services to private individuals
and institutions, and is located at 1211 Avenue of the Americas, 29th Floor, New
York, NY 10036. Mr. Tannenbaum is the sole shareholder, executive officer,
director and principal of Fir Tree Partners. Mr. Tannenbaum's principal
occupation is investment management and he is a United States citizen. His
business address is Fir Tree Partners, 1211 Avenue of the Americas, 29th Floor,
New York, NY 10036. Neither Fir Tree Partners nor Mr. Tannenbaum has been
convicted in a criminal proceeding during the last five years. Neither Fir Tree
Partners nor Mr. Tannenbaum is and during the past five years was a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result thereof, subject to any judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to federal or state securities laws or finding any violation with respect to
such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS
Fir Tree Partners, through the Fir Tree Value Fund, invested $225,946 in Limited
Partnership Units of the Issuer as described in Item 5 below, for a total
investment of $598,061 for the Fir Tree Value Fund. The source of these funds
was the working capital of the Fir Tree Value Fund.
ITEM 4. PURPOSE OF THE TRANSACTION
Fir Tree Partners and Mr. Tannenbaum acquired shares of
Common Stock for portfolio investment purposes, and do not have any present
plans or proposals that relate to or would result in any change in the business,
policies, management, structure or capitalization of the Issuer. Fir Tree
Partners and Mr. Tannenbaum reserve the right to acquire, or dispose of,
additional securities of the Issuer, in the ordinary course of business, to the
extent deemed advisable in light of its general investment and trading policies,
market conditions or other factors. Fir Tree Partners may contact the Issuer
and/or other shareholders regarding potential strategies to increase shareholder
value. Other than as described above, neither Fir Tree Partners nor Mr.
Tannenbaum has plans or proposals which would result in any of the following:
1) any extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving the issuer
or any of its subsidiaries;
2) any sale or transfer of a material amount of assets
of the issuer or any of its subsidiaries;
3) any change in the present board of directors or
managers of the issuer;
4) any material change in the present capitalization
or dividend policy of the issuer;
5) any other material change in the issuer's business
or corporate structure;
6) any change in the issuer's charter, by-laws or
instruments corresponding thereto or other actions which may
impede the acquisition of control of the issuer by any
person;
7) causing a class of securities of the issuer to be
delisted from a national securities exchange or to cease to
be authorized to be quoted in an interdealer quotation system
of a registered national securities association;
8) causing a class of securities of the issuer to
become eligible for termination of registration pursuant to
Section 12(g)(4) of the Act; or
9) any action similar to any of those enumerated
above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Fir Tree Partners and Mr. Tannenbaum are beneficial
owners of 188,200 shares of Common Stock of the Issuer or 8.8% of the shares
outstanding. The 188,200 shares described above are beneficially owned by Fir
Tree Partners and Mr. Tannenbaum for the account of the Fir Tree Value Fund.
The number of shares beneficially owned by Fir Tree Partners
and Mr. Tannenbaum and the percentage of outstanding shares represented thereby,
have been computed in accordance with Rule 13d-3 under the Act. The percentage
of beneficial ownership of Fir Tree Partners and Mr. Tannenbaum on June 4, 1996
is based on 2,142,000 outstanding shares of Common Stock as reported in the
Issuer's Quarterly Report on Form 10-Q for the quarter ended March 31, 1996.
(b) Fir Tree Partners and Mr. Tannenbaum for the account of
the Fir Tree Value Fund have the power to vote and dispose of the shares of
Common Stock held for the Fir Tree Value Fund.
(c) The transactions in the Issuer's securities by Fir Tree
Partners during the last sixty days are listed as Annex A attached hereto and
made apart hereof.
(d) Not Applicable.
(e) Not Applicable.
ITEM 6. CONTRACTS, ARRANGEMENT, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
Not Applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Not Applicable.
ANNEX A
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Bought/ # Avg. Price/Share
Date Sold Name Shares w/ Commission $
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1/30/96 Bought Total 1,300 3.2175 $4,182.75
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2/26/96 Bought Total 1,100 3.4050 $3,745.50
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2/27/96 Bought Total 800 3.4350 $2,748.00
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2/28/96 Bought Total 1,500 3.4050 $5,107.50
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2/29/96 Bought Total 3,700 3.4050 $12,598.50
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3/4/96 Bought Total 200 3.4050 $681.00
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3/5/96 Bought Total 1,000 3.4050 $3,405.00
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3/6/96 Bought Total 100 3.4050 $340.50
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3/14/96 Bought Total 500 3.4050 $1,702.50
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3/15/96 Bought Total 2,100 3.4050 $7,150.50
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3/18/96 Bought Total 1,000 3.4050 $3,405.00
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3/19/96 Bought Total 600 3.4050 $2,043.00
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3/20/96 Bought Total 4,700 3.4050 $16,003.50
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3/21/96 Bought Total 200 3.4050 $681.00
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3/25/96 Bought Total 500 3.4050 $1,702.50
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3/26/96 Bought Total 5,100 3.4038 $17,359.38
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3/27/96 Bought Total 2,300 3.3425 $7,687.75
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3/28/96 Bought Total 600 3.3425 $2,005.50
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3/29/96 Bought Total 900 3.3425 $3,008.25
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4/3/96 Bought Total 100 3.3425 $334.25
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4/8/96 Bought Total 400 3.3425 $1,337.00
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4/11/96 Bought Total 500 3.3425 $1,671.25
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4/12/96 Bought Total 1,100 3.3425 $3,676.75
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4/16/96 Bought Total 800 3.3425 $2,674.00
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4/17/96 Bought Total 5,000 3.3425 $16,712.50
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4/18/96 Bought Total 2,000 3.3425 $6,685.00
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4/19/96 Bought Total 2,900 3.3834 $9,811.86
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4/24/96 Bought Total 3,300 3.4050 $11,236.50
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4/26/96 Bought Total 400 3.4050 $1,362.00
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4/30/96 Bought Total 5,000 3.4050 $17,025.00
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5/1/96 Bought Total 500 3.4050 $1,702.50
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5/2/96 Bought Total 1,000 3.4050 $3,405.00
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5/3/96 Bought Total 1,000 3.4050 $3,405.00
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5/6/96 Bought Total 200 3.4050 $681.00
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5/7/96 Bought Total 400 3.4050 $1,362.00
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5/8/96 Bought Total 5,000 3.4050 $17,025.00
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5/14/96 Bought Total 1,000 3.4050 $3,405.00
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5/15/96 Bought Total 4,900 3.6550 $17,909.50
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TOTAL Total 63,700 $216,978.74
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: June 10, 1996
Fir Tree, Inc. d/b/a/ Fir Tree Partners
By:______________________________
JEFFREY TANNENBAUM, President
______________________________
Jeffrey Tannenbaum