SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 25)
of S.G.I. Partners, L.P.
Under the Securities Exchange Act of 1934
National Discount Brokers Group, Inc.
(Name of Issuer)
Common Stock, Par Value $.01 per share
(Title of Class of Securities)
635646-10-2
(CUSIP Number)
S.G.I. Partners, L.P.
120 Broadway
New York, New York 10271
(212) 433-7015
(Name, address and telephone number of person
authorized to receive notices and communications)
February 9, 1999
(Date of event which requires filing of this statement)
Cusip No. 635646-10-2
_____________________________________________________
1. NAME OF REPORTING PERSON S.G.I. Partners, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
112972100
_____________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b) X
___ _____________________________________________________
3. SEC USE ONLY
_____________________________________________________
4. SOURCE AND AMOUNT OF FUNDS W
_____________________________________________________
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) N/A
_____________________________________________________
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
Number of Shares Beneficially Owned by Each Reporting Person
With _____________________________________________________
7. SOLE VOTING POWER NUMBER OF SHARES 669,267
________________________________________________
8. SHARED VOTING POWER 0
________________________________________________
9. SOLE DISPOSITIVE POWER 669,267
________________________________________________
10.SHARED DISPOSITIVE POWER 0
_____________________________________________________
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 669,267
_____________________________________________________
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
_____________________________________________________
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.8%
_____________________________________________________
14. TYPE OF REPORTING PERSON PN
_____________________________________________________
Preliminary Note
This statement constitutes Amendment No. 25 to the
Statement on Schedule 13D originally filed (the "Original
Statement") by SGI.
This Amendment is filed to reflect the recent
transactions in the security.
Item 1. Security and Issuer
This Amendment relates to the Common Stock, par value
$.01 (the "Common Stock"), of National Discount Brokers
Group, Inc., a Delaware Corporation (the "Issuer"). The
address of the principal executive office of the Issuer is:
10 Exchange Place, Jersey City, New Jersey 07302.
Item 2. Identity and Background
The person filing this Statement is SGI. SGI's
business address is: 120 Broadway, New York, New York 10271.
Item 3. Source and Amount of Funds or Other Consideration
N/A
Item 4. Purpose of Transaction
Sales of securities were effected by SGI pursuant to
SEC Rule 144 for the purpose of satisfying the liquidity
needs of SGI and its partners.
SGI has no plans or proposals which relate to or which
would result in any of the actions in clauses (a) through
(j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) As of February 10, 1999, SGI beneficially owned
directly an aggregate of 669,267 shares of Common Stock,
constituting 4.8% of the 14,010,407 shares outstanding
(b) SGI has sole dispositive power with respect to the
669,267 shares that it owns.
(c) The following table sets forth information with respect
to all sales of Common Stock by SGI since February 5, 1999.
There were no purchases by the reporting person during the
period covered by this Amendment.
(d) Not applicable.
(e) On February 10, 1999, SGI ceased to be the beneficial
owner of more than 5% of the Common Stock.
Number
Date of of Price Type
ofTransaction Shares Per Share Transaction
02/08/99 1,500 23.13 Open Market Sale
02/08/99 2,000 23.25 Open Market Sale
02/08/99 1,000 23.38 Open Market Sale
02/08/99 3,000 23.50 Open Market Sale
02/08/99 1,000 23.56 Open Market Sale
02/08/99 1,500 13.63 Open Market Sale
02/08/99 42,000 24.00 Open Market Sale
02/08/99 2,200 24.06 Open Market Sale
02/08/99 11,000 24.13 Open Market Sale
02/08/99 8,300 24.19 Open Market Sale
02/08/99 8,500 24.25 Open Market Sale
02/08/99 2,400 24.31 Open Market Sale
02/08/99 1,000 24.38 Open Market Sale
02/08/99 4,000 24.44 Open Market Sale
02/08/99 10,500 24.50 Open Market Sale
02/08/99 10,300 26.25 Open Market Sale
02/08/99 500 26.31 Open Market Sale
02/08/99 10,000 28.00 Open Market Sale
02/08/99 3,400 28.00 Open Market Sale
02/08/99 200 28.06 Open Market Sale
02/08/99 100 28.13 Open Market Sale
02/08/99 1,300 28.19 Open Market Sale
02/09/99 52,950 22.00 Open Market Sale
02/09/99 1,500 21.75 Open Market Sale
02/09/99 1,000 21.88 Open Market Sale
02/09/99 2,500 21.88 Open Market Sale
02/09/99 2,500 22.00 Open Market Sale
02/09/99 500 22.00 Open Market Sale
02/09/99 2,000 22.00 Open Market Sale
02/09/99 5,000 22.00 Open Market Sale
02/09/99 3,500 22.00 Open Market Sale
02/09/99 5,100 22.00 Open Market Sale
02/09/99 2,500 22.13 Open Market Sale
02/09/99 2,500 22.13 Open Market Sale
02/09/99 1,200 22.13 Open Market Sale
02/09/99 2,500 22.25 Open Market Sale
02/09/99 200 22.25 Open Market Sale
02/09/99 5,000 22.38 Open Market Sale
02/09/99 2,500 22.38 Open Market Sale
02/09/99 2,500 22.50 Open Market Sale
02/09/99 2,500 22.50 Open Market Sale
02/09/99 2,000 22.50 Open Market Sale
02/09/99 2,500 22.63 Open Market Sale
02/09/99 2,500 22.75 Open Market Sale
02/09/99 2,500 22.75 Open Market Sale
02/09/99 100 22.86 Open Market Sale
02/09/99 2,500 23.25 Open Market Sale
02/09/99 2,500 23.38 Open Market Sale
02/09/99 2,500 23.50 Open Market Sale
02/09/99 2,500 23.63 Open Market Sale
02/09/99 1,800 24.25 Open Market Sale
02/09/99 5,000 24.38 Open Market Sale
02/09/99 1,800 24.20 Open Market Sale
02/10/99 2,600 22.50 Open Market Sale
02/10/99 3,600 22.50 Open Market Sale
02/10/99 1,100 22.50 Open Market Sale
02/10/99 2,500 22.50 Open Market Sale
02/10/99 500 22.56 Open Market Sale
02/10/99 2,500 22.63 Open Market Sale
02/10/99 1,600 22.75 Open Market Sale
02/10/99 2,500 22.75 Open Market Sale
02/10/99 2,500 22.75 Open Market Sale
02/10/99 2,500 22.75 Open Market Sale
02/10/99 5,000 22.75 Open Market Sale
02/10/99 5,000 22.81 Open Market Sale
02/10/99 300 22.88 Open Market Sale
02/10/99 300 22.88 Open Market Sale
02/10/99 900 22.88 Open Market Sale
02/10/99 200 22.94 Open Market Sale
02/10/99 5,000 23.00 Open Market Sale
02/10/99 4,000 23.00 Open Market Sale
02/10/99 400 23.00 Open Market Sale
02/10/99 2,500 23.25 Open Market Sale
02/10/99 500 23.25 Open Market Sale
02/10/99 5,000 23.44 Open Market Sale
02/10/99 2,500 23.44 Open Market Sale
02/10/99 5,000 23.50 Open Market Sale
02/10/99 2,500 23.50 Open Market Sale
02/10/99 1,300 23.50 Open Market Sale
02/10/99 5,000 23.50 Open Market Sale
02/10/99 600 23.50 Open Market Sale
02/10/99 1,900 23.50 Open Market Sale
02/10/99 2,500 23.56 Open Market Sale
02/10/99 1,200 23.63 Open Market Sale
02/10/99 2,500 23.63 Open Market Sale
02/10/99 1,000 23.69 Open Market Sale
02/10/99 2,500 23.75 Open Market Sale
02/10/99 2,500 23.75 Open Market Sale
02/10/99 2,500 23.88 Open Market Sale
02/10/99 5,000 23.94 Open Market Sale
02/10/99 5,000 24.00 Open Market Sale
02/10/99 10,500 24.00 Open Market Sale
02/10/99 5,000 24.00 Open Market Sale
02/10/99 5,000 24.00 Open Market Sale
02/10/99 2,500 24.00 Open Market Sale
02/10/99 5,000 24.06 Open Market Sale
02/10/99 2,500 24.13 Open Market Sale
02/10/99 1,100 24.19 Open Market Sale
02/10/99 3,900 24.25 Open Market Sale
02/10/99 5,000 24.25 Open Market Sale
02/10/99 5,000 24.38 Open Market Sale
02/10/99 5,000 24.44 Open Market Sale
SGI disclaims beneficial ownership of any other person's shares.
Item 6. Contract Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
N/A
Item 7. Material to be filed as Exhibits
None.
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
fourth in this Statement is true, complete and correct.
Dated: February 11, 1999
SGI Partners, L.P.
SGI Partners, L.P.
