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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13-G
Under the Securities Exchange Act of 1934
(Amendment No. )
Rose's Stores, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
777764-30-9
(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 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 and 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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13G
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
May Management, Inc.
93-0577520
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Oregon
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SOLE VOTING POWER
5
NUMBER OF 100,595
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 100,595
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,330,375
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,430,970 shares
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
16.7%
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TYPE OF REPORTING PERSON*
12
BD
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*SEE INSTRUCTION BEFORE FILLING OUT!
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13G
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Earle C. May
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 104,595
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 104,595
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,330,375
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,434,970 shares
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
16.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
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SECURITIES AND EXCHANGE COMMISSION
SCHEDULE 13-G
Item 1(a) Name of Issuer:
Rose's Stores, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
218 South Garnett Street
Henderson, NC 27536
Item 2(a) Name of Person Filing:
May Management, Inc.
Earle C. May
Item 2(b) Address of Principal Business Office:
4550 Kruse Way, Suite 345
Lake Oswego, OR 97035
Item 2(c) Citizenship:
Oregon
Items 2(d)Title and Class of Securities:
Common Stock
Item 2(e) CUSIP:
777764-30-9
Item 3. If this statement is filed pursuant to Rule 13d-1(b) or, 13d-2(b),
check whether the person filing is a:
[X] Broker or Dealer registered under Section 15 of the Act.
[X] Investment Adviser registered under Section 203 of the Investment Advisers
Act of 1940
Item 4. Ownership:
By virtue of his ownership and control of May Management, Inc., Earle
C. May may be deemed to be the beneficial owner of all shares of Rose's Stores,
Inc. (the "Company") common stock beneficially owned by May Management, Inc.
May Management, Inc. may be deemed to be the beneficial owner of all shares of
the Company's common stock held in customer accounts managed by it because it
has shared dispositive power with respect to such shares. Set forth below is
information with respect to (a) the share holdings of customers of May
Management, Inc., (b) the
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share holdings of May Management, Inc. and (c) the share holdings of Earle C.
May.
(a) The shares of Company common stock listed below were held as of July
30, 1997 by customers of May Management, Inc. in accounts managed by
May Management, Inc.:
(A) Amount beneficially owned: 1,330,375
(B) Percent of class: 16.7%
(C) Number of shares as to which May Management, Inc. and Earle C.
May have:
(1) sole power to vote or direct to vote: 0
(2) shared power to vote or direct to vote: 0
(3) sole power to dispose of or direct disposition of: 0
(4) shared power to dispose or direct disposition of: 1,330,375
(b) The Shares listed below were held as of July 30, 1997 by May
Management, Inc. for its own account:
(A) Amount beneficially owned: 100,595 shares
(B) Percent of class: 1.2%
(C) Number of shares as to which such person has:
(1) sole power to vote or direct to vote: 100,595
(2) shared power to vote or direct to vote: 0
(3) sole power to dispose of or direct disposition of: 100,595
(4) shared power to dispose or direct disposition of: 0
(c) The Shares listed below were held as of July 30, 1997 by Earle C. May
for his own account:
(A) Amount beneficially owned: 4,000 shares
(B) Percent of class:
(C) Number of shares as to which such person has:
(1) sole power to vote or direct to vote: 4,000
(2) shared power to vote or direct to vote: 0
(3) sole power to dispose of or direct disposition of: 4,000
(4) shared power to dispose or direct disposition of: 0
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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.
The customers of May Management, Inc. have the power to direct the
sale of the shares held in their accounts and the proceeds of such sales.
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
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.
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.
DATED: September 25, 1997
/s/ Earle C. May
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Earle C. May
MAY MANAGEMENT, INC.
By:/s/ Earle C. May
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Earle C. May, President
