ROSES HOLDINGS INC
10-Q/A, 1999-08-20
VARIETY STORES
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-Q/A


(Mark One)

   (X)        QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934

                  For the Quarterly Period Ended June 30, 1999

                                       OR

   ( )       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                    THE SECURITIES AND EXCHANGE ACT OF 1934

                          Commission File Number 0-631

                            WebFinancial Corporation
                        (formerly ROSE'S HOLDINGS, INC.)
             (Exact name of registrant as specified in its charter)

           Delaware                                            56-2043000
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                             Identification No.)

                        150 East 52nd Street, 21st Floor
                               New York, New York
                                     10022
             (Address and zip code of principal executive offices)


                                  877-431-2942
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes (X) No ( )

Indicate  by check mark  whether  the  registrant  has filed all  documents  and
reports  required  to be filed by  Sections  12, 13, or 15(d) of the  Securities
Exchange Act of 1934 subsequent to the  distribution of securities  under a plan
confirmed by a court. Yes (X) No ( )

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practical date.

              Class                                Outstanding at July 22, 1999
Common Stock, par value $.001                            4,430,964 Shares
<PAGE>
                  WEBFINANCIAL CORPORATION AND SUBSIDIARIES


                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                   WEBFINANCIAL CORPORATION


                           By      /s/Warren G. Lichtenstein
                                   Warren G. Lichtenstein
                                   President



                           By      /s/Jack L. Howard
                                   Jack L. Howard
                                   Vice President





Date:  August 20, 1999

<TABLE> <S> <C>


<ARTICLE>                                      9
<CIK>                                          0000085149
<NAME>                                         WebFinancial Corporation
<MULTIPLIER>                                   1,000
<CURRENCY>                                     DOLLARS

<S>                                            <C>
<PERIOD-TYPE>                                  6-MOS
<FISCAL-YEAR-END>                              DEC-31-1999
<PERIOD-START>                                 JAN-1-1999
<PERIOD-END>                                   JUN-30-1999
<EXCHANGE-RATE>                                1
<CASH>                                         181
<INT-BEARING-DEPOSITS>                         10,149
<FED-FUNDS-SOLD>                               0
<TRADING-ASSETS>                               0
<INVESTMENTS-HELD-FOR-SALE>                    1,732
<INVESTMENTS-CARRYING>                         1,732
<INVESTMENTS-MARKET>                           1,732
<LOANS>                                        3,566
<ALLOWANCE>                                    56
<TOTAL-ASSETS>                                 18,132
<DEPOSITS>                                     2,655
<SHORT-TERM>                                   1,555
<LIABILITIES-OTHER>                            849
<LONG-TERM>                                    0
                          0
                                    0
<COMMON>                                       4
<OTHER-SE>                                     14,150
<TOTAL-LIABILITIES-AND-EQUITY>                 18,132
<INTEREST-LOAN>                                98
<INTEREST-INVEST>                              80
<INTEREST-OTHER>                               246
<INTEREST-TOTAL>                               424
<INTEREST-DEPOSIT>                             49
<INTEREST-EXPENSE>                             0
<INTEREST-INCOME-NET>                          375
<LOAN-LOSSES>                                  49
<SECURITIES-GAINS>                             236
<EXPENSE-OTHER>                                1,731
<INCOME-PRETAX>                                (973)
<INCOME-PRE-EXTRAORDINARY>                     (973)
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   (973)
<EPS-BASIC>                                  (.22)
<EPS-DILUTED>                                  (.22)
<YIELD-ACTUAL>                                 0
<LOANS-NON>                                    0
<LOANS-PAST>                                   0
<LOANS-TROUBLED>                               0
<LOANS-PROBLEM>                                0
<ALLOWANCE-OPEN>                               0
<CHARGE-OFFS>                                  0
<RECOVERIES>                                   0
<ALLOWANCE-CLOSE>                              0
<ALLOWANCE-DOMESTIC>                           0
<ALLOWANCE-FOREIGN>                            0
<ALLOWANCE-UNALLOCATED>                        0



</TABLE>


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