SCHEDULE 13G
(Rule 13d-102)
Information to be Included in Statements Filed Pursuant
to Rule 13d-1(b) and (c) and Amendments Thereto Filed
Pursuant to Rule 13d-2(b)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Providence and Worcester Railroad Company
(Name of Issuer)
Preferred Stock $50 par value per share
(Title of Class of Securities)
743737 20 7
(CUSIP Number)
*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).
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CUSIP No. 743737 20 7 13G Page 2 of 6 Pages
_______________________________________________________________________________
1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only)
Robert H. Eder
_______________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
_______________________________________________________________________________
3 SEC Use Only
_______________________________________________________________________________
4 Source of Funds (See Instructions)
not applicable
_______________________________________________________________________________
5 Check if Disclosure of Legal Proceedings is Required Pursuant to Item
2(d) or 2(e)
_______________________________________________________________________________
6 Citizenship or Place of Organization
U.S.
_______________________________________________________________________________
Number of 7 Sole Voting Power
Shares 500
Beneficially ____________________________________________________________
Owned by 8 Shared Voting Power
Each 0
Reporting ____________________________________________________________
Person With 9 Sole Dispositive Power
500
____________________________________________________________
10 Shared Dispositive Power
0
_______________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
500
_______________________________________________________________________________
12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[ ] (See Instructions)
_______________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
76.6%
_______________________________________________________________________________
14 Type of Reporting Person (See Instructions)
IN
_______________________________________________________________________________
<PAGE>
CUSIP No. 743737 20 7 13G Page 3 of 6 Pages
_______________________________________________________________________________
1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only)
Linda Eder
_______________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
_______________________________________________________________________________
3 SEC Use Only
_______________________________________________________________________________
4 Source of Funds (See Instructions)
not applicable
_______________________________________________________________________________
5 Check if Disclosure of Legal Proceedings is Required Pursuant to Item
2(d) or 2(e)
_______________________________________________________________________________
6 Citizenship or Place of Organization
U.S.
_______________________________________________________________________________
Number of 7 Sole Voting Power
Shares 0
Beneficially ______________________________________________________________
Owned by 8 Shared Voting Power
Each 0
Reporting ______________________________________________________________
Person With 9 Sole Dispositive Power
0
______________________________________________________________
10 Shared Dispositive Power
0
_______________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0
_______________________________________________________________________________
12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[ ] (See Instructions)
_______________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
none
_______________________________________________________________________________
14 Type of Reporting Person (See Instructions)
IN
_______________________________________________________________________________
<PAGE>
CUSIP No. 743737 20 7 13G Page 4 of 6 Pages
Item 1(a) Name of Issuer: Providence and Worcester Railroad Company
Item 1(b) Address of Issuer's Principal Executive Offices:
75 Hammond Street, Worcester, Massachusetts 01601
Item 2(a) Name of Person Filing: Robert H. Eder and Linda Eder
Item 2(b) Address of Principal Business Office or, if none, Residence:
3601 Southeast Ocean Boulevard, Suite 203, Stuart, Florida 34996
Item 2(c) Citizenship: U.S.A.
Item 2(d) Title of Class of Securities: Preferred Stock
Item 2(e) CUSIP Number: 743737 20 7
Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or
240.13d-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 of 1940.
(e) ___ An investment adviser in accordance with section
240.13d-1(b)(1)(ii)(E).
(f) ___ An employee benefit plan or endowment funds in accordance
with section 240.13d-1(b)(1)(ii)(F).
(g) ___ A parent holding company in accordance with section
240.13d-1(b)(1)(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 pf 1940.
(j) ___ Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to section 240.13d-1(c), check this box [ ].
Item 4. Ownership.
If the percent of the class owned, as of December 31 of the year covered by
the statement, or as of the last day of any month described in Rule 13d-1(b)(2),
if applicable, exceeds five percent, provide the following information as of
that date and identify those shares which there is a right to acquire. The
following information reflects Mr. Eder's ownership giving effect to the July 4,
1994 reclassification of the Preferred Stock which converted all of the
outstanding shares of the then-existing Preferred Stock to either Common Stock
on a 1-for-1 basis or, for eligible shareholders, to new Preferred Stock on a
100-for-1 basis.
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CUSIP No. 743737 20 7 13G Page 5 of 6 Pages
(a) Amount Beneficially Owned: 500 shares
(b) Percent of Class: 76.6%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 500
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the
disposition of: 500
(iv) shared power to dispose or to direct the
disposition of: 0
As of December 31 of the year covered by the statement and as of the date of
this statement, Ms. Eder did not and does not beneficially own any shares of
Preferred Stock.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof either reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [ X ]. Only
one reporting person, Linda Eder, has ceased to be the beneficial owner of more
than five percent of the Preferred Stock. Robert H. Eder continues to be the
beneficial owner of more than five percent of the Preferred Stock.
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.
Not applicable
Item 9. Notice of Dissolution of Group.
Not applicable
Item 10. Certification.
Not applicable
<PAGE>
CUSIP No. 743737 20 7 13G Page 6 of 6 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
/s/ Robert H. Eder
Robert H. Eder
/s/ Linda Eder
Linda Eder
Dated: April 22, 1998
