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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )
Peoples Telephone Company, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
CUSIP No. 712574102
(CUSIP Number)
July 6, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed
[ ] Rule 13d-1 (b)
[X] Rule 13d-1 (c)
[ ] Rule 13d-1 (d)
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SCHEDULE 13G
CUSIP NO.: 712574102
(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ING Baring (U.S.) Capital Corporation
13-3916163
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
(3) SEC USE ONLY
(4) CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
(5) SOLE VOTING POWER: 1,249,800
(6) SHARED VOTING POWER:
(7) SOLE DISPOSITIVE POWER: 1,249,800
(8) SHARED DISPOSITIVE POWER:
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,249,800
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
7.7%
(12) TYPE OF REPORTING PERSON:
CO
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ITEM 1(a). NAME OF ISSUER:
Peoples Telephone Company, Inc.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
2300 Northwest 89th Street
Miami, FL 33172
ITEM 2(a). NAME OF PERSON FILING:
ING Baring (U.S.) Capital Corporation
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
667 Madison Avenue
New York, NY 10021
ITEM 2(c). CITIZENSHIP:
Delaware
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, $.01 par value
ITEM 2(e). CUSIP NUMBER:
712574102
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(b), OR
13D-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under Section 15
of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section
3(a)(19) of the Act,
(d) [ ] Investment Company registered under Section 8
of the Investment Company Act,
(e) [ ] An Investment Adviser in accordance with Rule
13d-1(b)(1)(ii)(E),
(f) [ ] An Employee Benefit Plan or Endowment Fund
in accordance with Rule 13d-1(b)(1)(ii)(F),
(g) [ ] A Parent Holding Company, or Control Person
in accordance with Rule 13d-1(b)(ii)(G);
(h) [ ] A Savings Association as defined in Section
3(b) of the Federal Deposit Insurance Act,
(i) [ ] A church plan that is excluded from the
definition of an investment company under
Section 3(c)(14) of the Investment Company
Act,
(j) [ ] Group, in accordance with Rule
13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP.
(a) Amount beneficially owned: 1,249,800
(b) Percent of class: 7.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
1,249,800,
(ii) Shared power to vote or direct the vote
___________,
(iii) Sole power to dispose or to direct the
disposition of: 1,249,800,
(iv) Shared power to dispose or to direct the
disposition of ___________.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
N/A
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ITEM 6. OWNERSHIP OF MOVE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON. N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY. N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
N/A
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of such securities and were not acquired in connection with or as a
participant in any transaction having such purpose or effect.
SIGNATURE
After reasonable inquiry and to the left of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
July 16, 1998
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(Date)
ING Baring (U.S.) Capital Corp.
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(Signature)
/s/Phillip R. Burnaman, Managing Director
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(Name/Title)
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