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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No.: *
Name of Issuer: Actrade International, Ltd.
Title of Class of Securities: Common Stock, par value $.0001
CUSIP Number: 004931101
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Mr. Ronald Eubel, c/o Eubel Brady & Suttman Asset
Management, Inc., 7777 Washington Village Drive,
Dayton, Ohio 45459, (513) 291-1223
(Date of Event which Requires Filing of this Statement)
September 30, 1996
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 [ ]. (A fee is not required only if the filing
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
class. See Rule 13d-7).
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
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 ("Act") or otherwise
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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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Cusip No. 004931101
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Ronald L. Eubel ###-##-####
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
United States
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
8. Shared Voting Power:
330,000
9. Sole Dispositive Power:
10. Shared Dispositive Power:
330,000
11. Aggregate Amount Beneficially Owned by Each Reporting Person
330,000
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)
5.2%
14. Type of Reporting Person
IN
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CUSIP No. 004931101
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Mark E. Brady ###-##-####
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
United States
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
8. Shared Voting Power:
330,000
9. Sole Dispositive Power:
10. Shared Dispositive Power:
330,000
11. Aggregate Amount Beneficially Owned by Each Reporting Person
330,000
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)
5.2%
14. Type of Reporting Person
IN
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CUSIP No. 004931101
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Robert J. Suttman ###-##-####
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC, PF
5. Check if Disclosure of Legal Proceedings is required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
7,500
8. Shared Voting Power:
330,000
9. Sole Dispositive Power:
7,500
10. Shared Dispositive Power:
330,000
11. Aggregate Amount Beneficially Owned by Each Reporting Person
337,500
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)
5.3%
14. Type of Reporting Person
IN
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Item 1. SECURITY AND ISSUER
This statement relates to shares of common stock, par
value $.0001 (the "Common Stock"), of Actrade
International, Ltd. (the "Company"). The Company's
principal executive office is located at 7 Penn Plaza,
Suite 422, New York, New York 10001.
Item 2. IDENTITY AND BACKGROUND
This statement is being filed on behalf of Ronald L.
Eubel, Mark E. Brady and Robert J. Suttman (each a
"Reporting Person"). The principal business of each of
the Reporting Persons is to act as investment adviser.
Messrs. Eubel, Brady and Suttman are the general
partners of EBS Partners, L.P., an investment
partnership (the "Partnership") and the principals of
Eubel Brady & Suttman Asset Management, Inc., a
registered investment adviser ("EBS"). The principal
office of each Reporting Person is at 777 Washington
Village Drive, Dayton, Ohio 45459.
None of the Reporting Persons has, during the last five
years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
None of the Reporting Persons has, during the last five
years, been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction which
resulted in a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws
or finding any violations with respect to such laws.
Messrs. Eubel, Brady and Suttman are citizens of the
United States of America.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
As of the date hereof, each of Messrs. Eubel, Brady and
Suttman beneficially own 330,000 shares of Common Stock.
All such 330,000 shares of Common Stock are held by the
Partnership or managed accounts over which the Reporting
Persons have investment discretion. In addition, Mr.
Suttman personally holds 7,500 shares of Common Stock.
The shares of Common Stock were purchased in a private
placement at an aggregate price of $1,130,625.00. The
funds for the purchase of Common Stock held in the
Partnership came from capital contributions to the
Partnership by its general and limited partners. The
funds for the purchase of Common Stock held in the
managed accounts came from each such account's own
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funds. The funds for the purchase of Common Stock
personally held by Mr. Suttman came from Mr. Suttman's
personal funds. No funds were borrowed to finance the
purchase.
Item 4. PURPOSE OF TRANSACTIONS.
The shares of Common Stock beneficially owned by the
Reporting Person were acquired for, and are being held
for, investment purposes.
The Reporting Person has no plan or proposal which
relates to, or would result in, any of the actions
enumerated in Item 4 of the instructions to Schedule
13D.
Item 5. INTEREST IN SECURITIES OF ISSUER.
Based on information from the Company, 6,335,681 shares
of Common Stock are believed to be outstanding. As
noted above, Messrs. Eubel and Brady each beneficially
own 330,000 shares of Common Stock and therefore each
beneficially own 5.2% of the outstanding shares of
Common Stock. Mr. Suttman beneficially owns 337,500
shares of Common Stock and therefore beneficially owns
5.3% of the outstanding shares of Common Stock. Each
Reporting Person has the power to vote, direct the vote,
dispose of or direct the disposition of all the shares
of Common Stock that he beneficially owns.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
None of the Reporting Persons has any contract,
arrangement, understanding or relationship with any
person with respect to the Common Stock.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
Attached hereto as Exhibit A is a description of the
transactions in the Common Stock that were effected by the
Reporting Person during the past 60 days.
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Signature
The undersigned, after reasonable inquiry and to
the best of its knowledge and belief, certifies that the
information set forth in this statement is true, complete
and correct.
October 9, 1996
/s/ Ronald L. Eubel
_________________________
Ronald L. Eubel
/s/ Mark E. Brady
__________________________
Mark E. Brady
/s/ Robert J. Suttman
__________________________
Robert J. Suttman
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EXHIBIT A
SCHEDULE OF TRANSACTIONS
Date Shares Purchased Price Per Share
or (Sold) (Not Including Commission)
____ _______________ ______________________
09/27/96 337,500 3.35
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00843001.AA5
