WATERHOUSE INVESTOR SERVICES INC
SC 13D/A, 1996-10-22
SECURITY BROKERS, DEALERS & FLOTATION COMPANIES
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                                                    ----------------------------
                                                           OMB APPROVAL
                                                     
                                                    ----------------------------
                                                    ----------------------------
                                                    OMB NUMBER:  3235-0145
                                                    EXPIRES:   OCTOBER 31, 1997
                                                    ESTIMATED AVERAGE BURDEN
                                                    HOURS PER RESPONSE...14.90
                                                    
                                                    ----------------------------
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13D
                               (AMENDMENT NO. 10)*

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                       WATERHOUSE INVESTOR SERVICES, INC.
- --------------------------------------------------------------------------------
                                (NAME OF ISSUER)

                     Common Stock, par value $.01 per Share
- --------------------------------------------------------------------------------
                         (TITLE OF CLASS OF SECURITIES)

                                   941547 10 1
                       ---------------------------------
                                 (CUSIP NUMBER)

                           Lawrence M. Waterhouse, Jr.
                     c/o Waterhouse Investor Services, Inc.
                                 100 Wall Street
                            New York, New York 10005
                         Telephone Number (212) 806-3500

                                 with a copy to:

                              Roger A. Kimmel, Esq.
                                Latham & Watkins
                                885 Third Avenue
                            New York, New York 10022
                         Telephone Number (212) 906-1200
                    -----------------------------------------
   (Name, Address and Telephone Number of Person Authorized to Receive Notices
                               and Communications)

                                October 15, 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 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.)

Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.

*This amendment constitutes the final amendment to the Schedule 13D.

The information required on 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).


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                                  SCHEDULE 13D

- --------------------------------------------
CUSIP NO. 941547 10 1
          ----------------------------------
- --------------------------------------------
<TABLE>
<C>       <S>                                                                                                     <C>
- ----------------------------------------------------------------------------------------------------------------------
1         NAME OF REPORTING PERSON
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

          Lawrence M. Waterhouse, Jr.
- ----------------------------------------------------------------------------------------------------------------------
2         CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                     (a) [X]
                                                                                                               (b) [ ]

- ----------------------------------------------------------------------------------------------------------------------
3         SEC USE ONLY

- ----------------------------------------------------------------------------------------------------------------------
4         SOURCE OF FUNDS

          Not applicable
- ----------------------------------------------------------------------------------------------------------------------
5         CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)                  [ ]

- ----------------------------------------------------------------------------------------------------------------------
6         CITIZENSHIP OR PLACE OF ORGANIZATION

          U.S.A.
- ----------------------------------------------------------------------------------------------------------------------
                            7        SOLE VOTING POWER

                                     -0-     (See Items 4 and 5)
                          --------------------------------------------------------------------------------------------
        NUMBER OF           8        SHARED VOTING POWER
         SHARES
      BENEFICIALLY                   -0-     (See Items 4 and 5)
        OWNED BY          --------------------------------------------------------------------------------------------
          EACH              9        SOLE DISPOSITIVE POWER
        REPORTING
         PERSON                      -0-     (See Items 4 and 5)
          WITH            --------------------------------------------------------------------------------------------
                          10       SHARED DISPOSITIVE POWER

                                     -0-     (See Items 4 and 5)
- ----------------------------------------------------------------------------------------------------------------------
11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

          -0-     (See Items 4 and 5)
- ----------------------------------------------------------------------------------------------------------------------
12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*                                   [X]


- ----------------------------------------------------------------------------------------------------------------------
13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

          -0-%
- ----------------------------------------------------------------------------------------------------------------------
14        TYPE OF REPORTING PERSON*

          IN
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
      (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


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               This  Amendment  No. 10 to Schedule  13D amends the  Schedule 13D
originally filed by the Reporting Person, as previously  amended and constitutes
the final amendment of such Schedule 13D.



ITEM 4. PURPOSE OF TRANSACTION

                The  Reporting  Person  entered  into  a  Voting   Agreement  in
connection with the execution and delivery of  the   Agreement   and   Plan   of
Merger dated April 9, 1996   (the 'Merger   Agreement')   among   the   Company,
The   Toronto-Dominion   Bank,   a  Canadian chartered bank   ('TD Bank'),   and
TD/Oak, Inc., a newly formed   Delaware   corporation   wholly  owned by TD Bank
('Merger Sub'),  pursuant to which the Company was merged with and  into  Merger
Sub, with Merger Sub  as   the   surviving corporation (the 'Merger'), effective
as of October 15, 1996 (the 'Effective Time').   In  connection with the Merger,
TD  Bank   previously offered stockholders of the Company   the   opportunity to
elect   to   receive   shares of TD common stock ('TD Common Shares') or cash in
exchange  for  their   shares of Common Stock of the Company, subject to certain
limitations  described in the Merger Agreement, including proration. As a result
of  the Merger, the Reporting Person has exchanged each share of  Common   Stock
of the Company owned by him for 1.87046 TD Common Shares.




ITEM 5. INTEREST IN SECURITIES OF THE ISSUER

                As a result of the Merger, all   of  the outstanding  shares  of
Common Stock of the Company are owned by TD Bank. The Reporting Person no longer
owns any shares of Common Stock of the Company.
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                                   Signatures

               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.



                                            /s/ Lawrence M. Waterhouse, Jr.
                                            ____________________________________
                                            Lawrence M. Waterhouse, Jr.

                                            Dated: October 22, 1996




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