UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1*)
West Jersey Bancshares, Inc.
(Name of Issuer)
Common Stock
(Title of Class Securities)
953504107
(Cusip Number)
Arthur E. Lee.
c/o Loeb Partners Corporation
61 Broadway, N.Y., N.Y., 10006 (212) 425-7044
(Name, address and Telephone Number of Person Authorized to Receive Notices
and Communications
June 5, 1996
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with statement [ ]. (A fee is not
required only if the following reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described is 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.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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 remained 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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SCHEDULE 13D
CUSIP NO. 953504107
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Partners Corporation - I.D. #13-3114801
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None
PERSON WITH 10 SHARED DISPOSITIVE POWER
None
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14 TYPE OF REPORTING PERSON*
CO,BD
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SCHEDULE 13D
CUSIP NO. 953504107
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Arbitrage Fund - I.D. #13-3269989
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None
PERSON WITH 10 SHARED DISPOSITIVE POWER
None
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14 TYPE OF REPORTING PERSON*
PN,BD
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Item 1. Security and Issuer.
No change.
Item 2. Identity and Background.
Loeb Arbitrage Fund (LAF), 61 Broadway, New York, New York, 10006,
is a New York limited partnership. It is a registered broker/dealer. Its
general partner is Loeb Arbitrage Management, Inc., (LAM), a Delaware
corporation, with the same address. Its President is Arthur E. Lee, who is
also an Executive Vice President of Loeb Partners Corporation. The other
officers of LAM are Thomas L. Kempner, Chairman of the Board, Irwin D. Rowe,
Vice President and Secretary and Peter A. Tcherepnine, Vice President.
Loeb Partners Corporation (LPC), 61 Broadway, New York, New York,
10006, is a Delaware corporation. It is a registered broker/dealer and a
registered investment adviser. Thomas L. Kempner is its President and a
director and its Chief Executive Officer. Henry A. Loeb is a Vice Chairmen
and director of LPC. Irwin D. Rowe is an Executive Vice President and also
a director of LPC. Henry A. Loeb is an uncle of Thomas L. Kempner.
Loeb Holding Corporation (LHC), a Maryland corporation, 61
Broadway, New York, New York, 10006 is the sole stockholder of Loeb
Arbitrage Management, Inc., and LPC. Thomas L. Kempner is its President
and a director as well as its Chief Executive Officer and majority
stockholder. Messrs. Henry A. Loeb and Irwin D. Rowe are director of LHC,
as are Robert Krones, Andrew J. McLaughlin, Jr. and Edward E. Matthews. Mr.
Matthews address is 70 Pine Street, New York, New York 10270. The business
address of the other individuals is 61 Broadway, New York, New York, 10006.
All of the individuals named are United States Citizens. None
have within the last five years, been convicted in a criminal proceeding
(excludingtraffic violations or similar misdemeanors) or have been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction and asa result of such proceeding have been or are subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state
securities laws or finding any violations with respect to such laws.
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Item 3. Source and Amount of Funds or Other Compensation.
No change.
Item 4. Purpose of Transaction.
No change.
Item 5. Interest in Securities of the Issuer.
(a) The persons reporting hereby owned no shares of Common Stock of
the Issuer as of June 5, 1996:
(b) Not applicable.
(c) As of June 5, 1996 all shares of Common Stock of the
Issuer beneficially owned by the reporting persons were exchanged for shares
of Common Stock of Sovereign Bancorp Inc. as follows:
Old Shares New Shares
Loeb Arbitrage Fund 74,076 61,472
Loeb Partners Corporation 30,999* 25,837*
(d) Not applicable.
(e) On June 5, 1996 the reporting persons ceased
being beneficial owners of Common Stock of the Issuer.
- ----------------------
*Including 6,863 and 5,720 shares respectively, held for the accounts of
two customers of Loeb Partners Corporation as to which it has investment
discretion.
Item 6. Contracts, Arrangements, Understanding or Relationships with
Respect to the Issuer.
None.
Item 7. Materials to be Files as Exhibits.
None.
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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.
January 27, 1997 Loeb Arbitrage Fund
By:Loeb Arbitrage Management, Inc.
By:/s/Arthur E. Lee
Arthur E. Lee, President
January 27, 1997 Loeb Partners Corporation
By:/s/Arthur E. Lee
Arthur E. Lee
Executive Vice President
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