<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 31 )*
AMERICAN REALTY TRUST, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 Par Value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
029-177-409
-----------------------------------
(CUSIP Number)
Robert A. Waldman
10670 N. Central Expressway, Suite 600
Dallas, TX 75231 (214) 692-4758
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 24, 1995
-----------------------------------
(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.
*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
disclosures provided in a prior cover page.
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).
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 029-177-409 PAGE 2 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Basic Capital Management, Inc.
75-2261065
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
1,197,351
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
1,197,351
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,197,351
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
40.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 029-177-409 PAGE 3 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
National Operating, L.P.
75-2163170
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
48,933
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
48,933
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,933
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 029-177-409 PAGE 4 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Gene E. Phillips Children's Trust
13-6599759
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
24,583
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
24,583
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,583
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.8
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
oo
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 5
SCHEDULE 13D
CUSIP NO. 029-177-409 PAGE 5 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Continental Mortgage and Equity Trust
94-2738844
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
204,522
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
204,522
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
204,522
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
oo
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 6
AMERICAN REALTY TRUST, INC.
CUSIP NO. 029-177-409
Item 1. Security and Issuer
Item 1 is hereby amended to read as follows:
This amendment relates to the Common Shares, $0.01 par value (the
"Shares"), of American Realty Trust, Inc., a Georgia corporation (the
"Company"), successor to American Realty Trust, a District of Columbia business
trust, and amends the statement on Schedule 13D filed on December 9, 1994. The
principal executive offices of the Company are located at 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231.
Item 2. Identity and Background
Item 2 is hereby amended to read as follows:
This statement is being filed on behalf of Gene E. Phillips
("Phillips"), Basic Capital Management, Inc. ("BCM"), Continental Mortgage and
Equity Trust ("CMET"), National Operating, L.P. ("NOLP"), and Gene E. Phillips
Children's Trust (the "GEP Trust") (collectively the "Reporting Persons").
Gene E. Phillips, BCM, CMET, NOLP, and the GEP Trust may be deemed to
constitute a "person" within the meaning of Section 13 (d) of the Securities
Exchange Act of 1934, as amended, because BCM is beneficially owned by a trust
established for the benefit of Gene E. Phillips' children and the executive
officers of BCM are also executive officers of CMET. Gene E. Phillips is a
general partner of Syntek Asset Management, L. P . ("SAMLP"), which is the
general partner of NOLP. Ryan T. Phillips was previously a Reporting Person.
On January 16, 1995, he disposed of 445 shares which he owned directly and is
no longer a Reporting Person.
(I) BCM is a corporation organized and existing under the laws of the
State of Nevada. BCM's principal business activity is the provision of advisory
services for real estate investment trusts. The principal place of business and
principal office of BCM is 10670 North Central Expressway, Suite 600 Dallas,
Texas 75231. BCM was known as National Realty Advisors, Inc. until it changed
its name on October 1, 1992.
BCM is owned by Realty Advisors, Inc., a Nevada corporation. Realty
Advisors, Inc. is owned by a trust established for the benefit of the children
of Gene E. Phillips. The directors and executive officers of BCM are as
follows:
6
<PAGE> 7
<TABLE>
<CAPTION>
Name Position(s) with BCM
- ---- ----------- ---- ---
<S> <C>
Oscar W. Cashwell President and Director of
Property and Asset Management
Hamilton P. Schrauff Executive Vice President and
Chief Financial Officer
Karl L. Blaha Executive Vice President - Director
Commercial Management
Clifford A. Towns, Jr. Executive Vice President,
Finance
Steven R. Young Executive Vice President -
Director of Acquisitions
Randall M. Paulson Executive Vice President
Bruce A. Endendyk Executive Vice President
Thomas A. Holland Senior Vice President and
Chief Accounting Officer
Robert A. Waldman Senior Vice President, General
Counsel and Secretary
Drew D. Potera Vice President, Treasurer
and Securities Manager
Ryan T. Phillips Director
M. Ned Phillips Director
</TABLE>
Oscar W. Cashwell's business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Cashwell's present principal
occupation is the President of BCM. Mr. Cashwell is a citizen of the United
States of America.
Mr. Schrauff's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Schrauff's present principal occupation
is Executive Vice President and Chief Financial Officer of BCM. Mr. Schrauff
is a citizen of the United States of America.
Mr. Towns' business address is 10670 North Central Expressway, Suite
600, Dallas, Texas 75231. Mr. Towns' present principal occupation is
Executive Vice President of BCM. Mr. Towns is a citizen of the United States
of America.
Mr. Blaha's business address is 10670 North Central Expressway, Suite
600, Dallas, Texas 75231. Mr. Blaha's present principal occupation is
Executive Vice President - Director of Commercial Management of BCM. Mr. Blaha
is a citizen of the United States of America.
7
<PAGE> 8
Mr. Young's business address is 10670 North Central Expressway, Suite
600, Dallas, Texas 75231. Mr. Young's present principal occupation is
Executive Vice President - Director of Acquisitions of BCM. Mr. Young is a
citizen of the United States of America.
Mr. Paulson's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Paulson's present principal occupation is
Executive Vice President of BCM. Mr. Paulson is a citizen of the United States
of America.
Mr. Endendyk's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Endendyk's present principal occupation
is Executive Vice President of BCM. Mr. Endendyk is a citizen of the United
States of America.
Mr. Holland's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Holland's present principal occupation is
Senior Vice President and Chief Accounting Officer of BCM. Mr. Holland is a
citizen of the United States of America.
Mr. Potera's business address is 10670 North Central Expressway, Suite
600, Dallas, Texas 75231. Mr. Potera's present principal occupation is Vice
President, Treasurer and Securities Manager of BCM. Mr. Potera is a citizen of
the United States of America.
Mr. Waldman's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Waldman's present principal occupation is
Senior Vice President, General Counsel and Secretary of BCM. Mr. Waldman is a
citizen of the United States of America.
M. Ned Phillips' business address is 264 Rolling Hills Circle,
Gaffney, South Carolina 29340. M. Ned Phillips' present principal occupation
is owner of Phillips Remodeling Co. M. Ned Phillips is a citizen of the United
States of America.
Ryan T. Phillips' business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Ryan T. Phillips' present principal
occupation is an independent real estate investor. Ryan T. Phillips is a
citizen of the United States of America.
(II) NOLP is a Delaware limited partnership engaged in the business of
investing in real estate and real estate related assets. The principal place of
business and principal office of NOLP is 10670 North Central Expressway, Suite
600, Dallas, Texas 75231.
NOLP has no officers or directors. The general partner of NOLP is
SAMLP. The general partners of SAMLP are Syntek Asset Management, Inc. and Mr.
Phillips who, through his position as a general partner of SAMLP, is a
controlling person of NOLP.
Gene E. Phillips' business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Phillips' present principal occupation is
Chief Executive Officer of Syntek West, Inc. Mr. Phillips is a citizen of the
United States of America.
8
<PAGE> 9
(III) CMET is a real estate investment trust organized and existing
under the law of the State of California. CMET's principal business activity
is investments in real estate. As of February 24, 1995, the Company owned
35.0% of CMET's outstanding securities. The principal place of business and
principal office of CMET is located at 10670 North Central Expressway, Suite
600, Dallas, Texas 75231.
The following is a list of each executive officer and trustee of CMET
as of March 9, 1995:
<TABLE>
<CAPTION>
Name Position(s) with CMET
---- ---------------------
<S> <C>
Oscar W. Cashwell President
Hamilton P. Schrauff Executive Vice President and
Chief Financial Officer
Karl L. Blaha Executive Vice President -
Director of Commercial
Management
Randall M. Paulson Executive Vice President
Bruce A. Endendyk Executive Vice President
Thomas A. Holland Senior Vice President and
Chief Accounting Officer
Robert A. Waldman Senior Vice President, Secretary
and General Counsel
Drew D. Potera Treasurer
Bennett B. Sims Trustee
Ted P. Stokely Trustee
Geoffrey C. Etnire Trustee
Martin L. White Trustee
John P. Parsons Trustee
Harold Furst Trustee
Edward G. Zampa Trustee
</TABLE>
Information with respect to Messrs. Cashwell, Holland, Schrauff,
Blaha, Paulson, Endendyk, Waldman and Potera is disclosed in (I) above.
Mr. Sims' business address is 62 W. 91st Street, Apt #3, New York,
New York 10024. Mr. Sims' present principal occupation is Professor at New York
University. Mr. Sims is a citizen of the United States of America.
9
<PAGE> 10
Mr. Etnire's business address is 4900 Hopyard Road, Suite 260,
Pleasanton, California 94588. Mr. Etnire's present principal occupation is an
Attorney. Mr. Etnire is a citizen of the United States of America.
Mr. Stokely's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Stokely's present principal occupation is
General Manager of Minority and Elderly Housing Assistance Foundation, Inc.
Mr. Stokely is a citizen of the United States of America.
Mr. White's business address is 8051 Coach Drive, Oakland, California
94605. Mr. Martin is Chairman and Chief Executive Officer of Community Based
Developers, Inc. Mr. Martin is a citizen of the United States of America.
Mr. Parson's business address is 73155 Deer Grass Drive, Palm Desert,
California 92262. Mr. Parson's is Chairman and Chief Executive Officer of
Pierpont Corporation. Mr. Parson is a citizen of the United States of America.
Mr. Furst's business address is 1311 Brewster Court, El Cerrito,
California 94530. Mr. Furst is Executive Vice President of SONY Signatures and
an independent business consultant with emphasis on economic and financial
matters. Mr. Furst is a citizen of the United States of America.
Mr. Zampa's business address is Number Fifty Osgood Place, Suite 110,
San Francisco, California 94133. Mr. Zampa is General Partner of Edward G.
Zampa and Company. Mr. Zampa is a citizen of the United States of America.
(IV) The GEP Trust is a trust formed under the laws of Texas for the
benefit of the children of Mr. Phillips. The trustee of the GEP Trust is Mr.
Phillips' brother, Donald W. Phillips. Information with respect to Mr. Phillips
is disclosed in (II) above.
Donald W. Phillips' business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Donald W. Phillips' present
principal occupation is President and owner of Big D Oil Field Equipment Sales.
Donald W. Phillips is a citizen of the United States of America.
During the last five (5) years, (i) none of the persons enumerated in
(I) through (VI) above has been convicted in a criminal proceeding (excluding
traffic violations and similar misdemeanors) and (ii) none of such persons was
a party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to 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 violation with respect to such laws.
10
<PAGE> 11
Item 4. Purpose of the Transaction
Item 4 is hereby amended to read as follows:
The purpose of the acquisition of the Shares by BCM is for investment
and additionally, to better align the interests of BCM with the Stockholders of
the Company.
The Reporting Persons consider the Shares to be an attractive
investment and anticipate that they may, subject to prevailing market
conditions, availability of financing and other factors, increase their
ownership of the Company through additional market purchases.
Item 5. Interest in Securities of the Issuer
Item 5(a), 5(b) and 5(c) are hereby amended to read as follows:
(a) Share Ownership
The following tables show the Shares owned directly and beneficially
by the persons named in Item 2 hereof on the date of this statement:
Shares Owned Directly
---------------------
<TABLE>
<CAPTION>
Number of Percent of
Name Shares Class (1)
- ---- --------- ----------
<S> <C> <C>
BCM 1,197,351 40.9%
CMET 204,522 7.0
NOLP 48,933 1.7
Phillips 0 0
GEP Trust 24,583 0.8
TOTAL 1,475,389 50.4%
</TABLE>
Shares Owned Beneficially
-------------------------
<TABLE>
<CAPTION>
Number of Percent of
Name Shares Class (1)
- ---- ------ ----------
<S> <C> <C>
BCM 1,197,351 40.9%
CMET 204,522 7.0
NOLP 48,933 1.7
GEP Trust 24,583 0.8
Ryan T. Phillips (2)(3) 1,221,934 41.7
M. Ned Phillips (2) 1,197,351 40.9
Phillips (4) 48,933 1.7
Total shares beneficially
owned by Reporting Persons 1,475,389 50.4%
</TABLE>
__________________
* less than one-tenth of one percent
(1) Percentage calculations are based upon 2,929,164 Shares outstanding at
February 24, 1995. Total and addends may not match due to rounding.
11
<PAGE> 12
(2) May be deemed to be the beneficial owner of Shares held directly by
BCM by virtue of the relationship to BCM described in Item 2.
(3) May be deemed to be the beneficial owner of Shares held directly by
the GEP Trust by virtue of the relationship to GEP Trust described in
Item 2.
(4) May be deemed to be the beneficial owner of Shares held directly by
NOLP by virtue of the relationship to NOLP described in Item 2.
(b) Voting and Dispositive Power
The Trustee of GEP Trust has complete voting and dispositive power
over the 24,583 Shares held by the GEP Trust. Mr. Phillips shares voting and
dispositive power over the 48,933 Shares held by NOLP. Each of the Trustees of
CMET share voting and dispositive power over the 204,522 Shares held by CMET.
Each of the Directors of BCM exercise voting and dispositive power over the
1,197,351 Shares held by BCM.
(c) Transactions in Securities
The following table lists the purchase transactions in the Shares that
were effected by the Reporting Persons during the past sixty days.
<TABLE>
<CAPTION>
Reporting Number of Price Type of
Person Date Shares Per Share Transaction
- ------ ---- --------- --------- -----------
<S> <C> <C> <C> <C>
BCM 12/12/94 2,000 $11.875 Open Market
BCM 12/13/94 1,200 $12.00 Open Market
BCM 12/14/94 800 $12.375 Open Market
BCM 12/15/94 1,000 $12.375 Open Market
BCM 12/16/94 1,000 $12.375 Open Market
BCM 12/19/94 400 $12.375 Open Market
BCM 12/20/94 200 $12.375 Open Market
BCM 12/20/94 1,300 $12.50 Open Market
BCM 12/20/94 100 $12.50 Open Market
BCM 12/22/94 100 $11.625 Open Market
BCM 12/22/94 500 $12.625 Open Market
BCM 12/23/94 100 $12.875 Open Market
BCM 12/27/94 100 $12.875 Open Market
BCM 12/27/94 400 $13.00 Open Market
BCM 12/28/94 100 $13.00 Open Market
BCM 12/29/94 100 $13.125 Open Market
BCM 12/29/94 500 $13.00 Open Market
BCM 12/30/94 1,900 $13.125 Open Market
BCM 12/30/94 800 $13.125 Open Market
BCM 01/03/95 2,000 $13.125 Open Market
BCM 01/04/95 1,000 $13.125 Open Market
BCM 01/04/95 1,000 $13.125 Open Market
BCM 01/05/95 100 $13.50 Open Market
BCM 01/06/95 2,900 $13.50 Open Market
</TABLE>
12
<PAGE> 13
<TABLE>
<CAPTION>
Reporting Number of Price Type of
Person Date Shares Per Share Transaction
- ------ ---- --------- --------- -----------
<S> <C> <C> <C> <C>
BCM 01/27/95 900 $13.125 Open Market
BCM 02/08/95 100 $13.125 Open Market
BCM 02/08/95 100 $13.125 Open Market
BCM 02/14/95 900 $13.125 Open Market
BCM 02/15/95 3,000 $13.125 Open Market
BCM 02/17/95 600 $13.125 Open Market
BCM 02/17/95 1,000 $13.125 Open Market
</TABLE>
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Item 6 is hereby amended to read as follows:
BCM has pledged 27,000 Shares to Accutrade, pledged 20,000 shares to
Advest, Inc., pledged 1,000 shares to Allied Research, pledged 17,000 shares to
Baker & Co., Inc., pledged 166,667 shares to the Bank of Baltimore, pledged
85,266 Shares to Bear Stearns & Co., pledged 20,136 shares to Brown & Company
Securities Corporation, pledged 12,000 Shares to Chatfield Dean & Co., pledged
20,000 shares to CJ Lawrence, Inc., pledged 23,500 shares to Cowen & Company,
pledged 56,600 shares to Dean Witter, pledged 25,000 shares to Dillon Read and
Co., Inc., pledged 21,263 shares to First Alabama Investments, Inc., pledged
29,000 shares to H D Vest Financial Services, pledged 24,000 shares to
Hambrecht & Quist Incorporated, pledged 25,000 shares to IDS Financial
Services, Inc., pledged 26,000 shares to Kemper Securities Group, Inc., pledged
20,000 shares to Kirpatrick Pettis, pledged 27,000 shares to Legg Mason,
pledged 18,000 shares to Lehman Brothers, pledged 20,000 shares to Lombard,
pledged 22,281 shares to Mabon Securities Corp., pledged 12,000 shares to
Montgomery, pledged 13,100 shares to the Ohio Company, pledged 26,000 shares to
Olde, pledged 15,000 shares to Oppenheimer (TX), pledged 18,300 shares to
Pacific Brokerage, pledged 26,000 shares to Paine Webber (TX), pledged 19,000
shares to Paine Webber (NY), pledged 19,055 shares to Paine Webber (WA),
pledged 73,583 shares to Piper Jaffray, pledged 20,000 shares to The Principal,
26,300 shares to Prudential (PA), pledged 45,100 shares to Prudential (TX),
pledged 21,200 shares to Quick & Reilly, pledged 20,000 shares to Rodman &
Renshaw, pledged 25,000 shares to Shearson (TX), pledged 20,000 shares to
Signet, pledged 28,600 shares to Southwest Sec., pledged 21,200 shares to
Wachovia and pledged 20,000 shares to Worthen in stock margin accounts
maintained by it with such brokers.
NOLP has pledged 48,933 shares to Lehman (NY) in stock margin accounts
maintained by it with such broker.
CMET has pledged 7,700 shares to Jeffries & Co., pledged 114,781
shares to Neuberger & Berman, pledged 40,700 shares to Prudential (TX) #2 and
pledged 41,341 shares to Smith Barney in stock margin accounts maintained by it
with such brokers.
GEP Trust has pledged 24,583 shares to Dean Witter in stock margin
accounts maintained by it with such broker.
13
<PAGE> 14
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in the statement is true, complete and
correct.
Dated: March 9, 1995
BASIC CAPITAL MANAGEMENT, INC.
By: /s/Hamilton P. Schrauff
-----------------------------
Hamilton P. Schrauff
Executive Vice President
NATIONAL OPERATING, L.P.
By: Syntek Asset Management, L.P.
General Partner
By: Syntek Asset Management, Inc.
Managing General Partner
By: /s/Hamilton P. Schrauff
----------------------------
Hamilton P. Schrauff
Executive Vice President
GENE E. PHILLIPS CHILDREN'S TRUST
By: /s/Donald W. Phillips
----------------------------
Donald W. Phillips
Trustee
CONTINENTAL MORTGAGE AND EQUITY TRUST
By: /s/Hamilton P. Schrauff
----------------------------
Hamilton P. Schrauff
Executive Vice President
14
