UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____3_____)*
IMPERIAL HOLLY CORPORATION
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
452835101
(CUSIP Number)
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 such 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 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>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
United States National Bank of Galveston
74-1708566
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b) /X/
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
National Banking Association
5 SOLE VOTING POWER
NUMBER OF
SHARES 1,888,801 shares
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING -0- shares
PERSON
WITH
7 SOLE DISPOSITIVE POWER
1,889,251 shares
8 SHARED DISPOSITIVE POWER
-0- shares
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,889,251 shares
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
18.5%
12 TYPE OF REPORTING PERSON
BK
Item 1(a) NAME OF ISSUER:
IMPERIAL HOLLY CORPORATION
Item 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
One Imperial Square, Suite 200
P. O. Box 9
Sugar Land, Texas 77487
Item 2(a) NAME OF PERSON FILING:
UNITED STATES NATIONAL BANK OF GALVESTON
Item 2(b) Address of Principal Business Office, or If none, residence:
2201 Market Street
Galveston, Texas 77550
Item 2(c) CITIZENSHIP:
National banking association
Item 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock
Item 2(e) CUSIP NUMBER:
452835101
Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-
2(b), check whether the person filing is a:
(b) /X/ Bank as defined in Section 3(a)(6) of the Act.
Item 4 OWNERSHIP:
(a) Amount beneficially owned:
1,889,251
(b) Percent of Class:
18.5%
(c) Number of Shares as to which such Person has:
(i) sole power to vote or to direct the vote
1,888,801
(ii) shared power to vote or to direct the vote
-0-
(iii) sole power to dispose or to direct the disposition of
1,889,251
(iv) shared power to dispose or to direct the disposition of
-0-
Reporting Person, as trustee under various trusts and as agent
pursuant to various agency agreements for various accounts,
has voting or dispositive power over 1,889,251 shares of the
Issuer's common stock. As indicated above, Reporting Person
has dispositive power with respect to all 1,889,251 of such
shares, and has voting power with respect to 1,888,801 of such
shares. Reporting Person hereby expressly disclaims
beneficial ownership with respect to all such shares and,
accordingly, the filing of this Schedule 13G may not be
construed as an admission that such person is, for the
purposes of Section 13(d) or 13(g) of the Act, the beneficial
owner of any securities covered by this Schedule.
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:
Not Applicable
Item 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Reporting Person hereby expressly disclaims that it, together
with such other persons having the power to vote or to dispose
of such shares, constitutes a "group" as defined in Rule
13d-5(b)(1) under the Act.
Item 9 NOTICE OF DISSOLUTION OF GROUP:
Not Applicable
Item 10 CERTIFICATION:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the
purpose of and do not have 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 purposes or effect.
SIGNATURE
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.
February 9, 1994
UNITED STATES NATIONAL BANK OF GALVESTON
By: /s/ Freddie B. Meier
Executive Vice President and
Executive Trust Officer
