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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
GENTA INCORPORATED
(Name of Issuer)
Common Stock, Par Value $.001 per share
(Title of Class of Securities)
37245M207
(CUSIP Number)
June 30, 1997
(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 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. 37245M207 SCHEDULE 13G Page 2 of 6 Pages
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Reliance Financial Services Corporation
I.R.S. Employer Identification No.: 51-0113548
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5. SOLE VOTING POWER
1,109,603 (See Note 1)
NUMBER OF SHARES
6. SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON WITH 1,109,603 (See Note 1)
8. SHARED DISPOSITIVE POWER
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,109,603 (See Note 1)
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.7% (See Note 1)
12. TYPE OF REPORTING PERSON*
HC
*SEE INSTRUCTION BEFORE FILLING OUT!
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Item 1(a) Name of Issuer:
Genta Incorporated
Item 1(b) Address of Issuer's Principal Executive Offices:
3550 General Atomics Court, San Diego, California 92121
Item 2(a) Name of Person Filing:
Reliance Financial Services Corporation
Item 2(b) Address of Principal Business Office or, if none,
Residence:
Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055
Item 2(c) Citizenship:
Delaware
Item 2(d) Title of Class of Securities:
Common Stock, Par Value $.001
Item 2(e) CUSIP Number:
37245M207
Item 3(g) [X] Parent Holding Company, in accordance with
Section 240.13d-1(b)(1)(ii)(G)
Item 4. Ownership.
(a) Amount Beneficially Owned As of December 31, 1998
1,109,603 (See Note 1)
(b) Percent of Class:
10.7% (See Note 1)
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(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
1,109,603 (See Note 1)
(ii) shared power to vote or to direct the vote
-0- (See Note 1)
(iii) sole power to dispose or to direct the
disposition of
1,109,603 (See Note 1)
(iv) shared power to dispose or to direct the
disposition of
-0-
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not Applicable
Item 7. Identification and Classification of the Subsidiary which
Acquired the Security Being Reported on By the Parent Holding
Company.
Reliance Insurance Company
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
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Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and 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 and are not held in connection
with or as a participant in any transaction having such purposes or effect.
SIGNATURE
February 2, 1999 as of December 31, 1998
........................................................
Date
RELIANCE FINANCIAL SERVICES CORPORATION
By: /s/ James E. Yacobucci
-----------------------------
James E. Yacobucci
Senior Vice President-Investments
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Note 1. At June 30, 1997, and at December 31, 1998, and at all times in
between, Reliance Insurance Company ("RIC") beneficially owned 10,000 shares of
Series D Preferred Stock convertible into 1,059,603 shares of Common Stock and
Warrants entitling RIC to purchase 50,000 shares of Common Stock at a price of
$0.94375 per share. The Securities beneficially owned by RIC (assuming
conversion of the Series D Preferred Stock and the exercise of the Warrants)
total 1,109,603 shares of Common Stock and represented at December 31, 1998,
10.7% of the Securities outstanding based on the issuer's quarterly report for
the period ended September 30, 1998.
