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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
American Buildings Co.
------------------------------
(Name of Issuer)
Common Stock
----------------------------------------
(Title of Class of Securities)
024757106
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(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 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).
(Continued on following page(s))
Page 1 of 8 Pages
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CUSIP No. 024757106
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- --------------------------------------------------------------------------------
1) Name of Reporting Person SAFECO Common Stock Trust
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group ------------------------------
(See Instructions) (b)
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Citizenship or Place of State of Delaware
Organization
- --------------------------------------------------------------------------------
Number of (5) Sole Voting
Shares Bene- Power 0
ficially -----------------------------------------------------------------
Owned by (6) Shared Voting
Reporting Power 428,800
Person With -----------------------------------------------------------------
(7) Sole Disposi-
tive Power 0
-----------------------------------------------------------------
(8) Shared
Dispositive Power 428,800
- --------------------------------------------------------------------------------
9) Aggregate Amount Bene- 428,800
ficially Owned by
Reporting Person
- --------------------------------------------------------------------------------
10) Check if the Aggregate
Amount in Row (9) Excludes
Certain Shares (See Instructions)
- --------------------------------------------------------------------------------
11) Percent of Class
Represented by Amount 7.4%
in Row 9
- --------------------------------------------------------------------------------
12) Type of Reporting Person IV
(See Instructions)
- --------------------------------------------------------------------------------
Page 2 of 8 Pages
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CUSIP No. 024757106
---------
- --------------------------------------------------------------------------------
1) Name of Reporting Person SAFECO Asset Management
S.S. or I.R.S. Identifica- Company
tion No. of Above Person
- --------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group ------------------------------
(See Instructions) (b)
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Citizenship or Place of State of Washington
Organization
- --------------------------------------------------------------------------------
Number of (5) Sole Voting
Shares Bene- Power 0
ficially ------------------------------------------------------------
Owned by (6) Shared Voting
Reporting Power 675,300
Person With ------------------------------------------------------------
(7) Sole Disposi-
tive Power 0
------------------------------------------------------------
(8) Shared
Dispositive Power 675,300
- --------------------------------------------------------------------------------
9) Aggregate Amount Bene- 675,300(1)
ficially Owned by
Reporting Person
- --------------------------------------------------------------------------------
10) Check if the Aggregate
Amount in Row (9) Excludes
Certain Shares (See Instructions)
- --------------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row 9 11.7%
- --------------------------------------------------------------------------------
12) Type of Reporting Person IA
(See Instructions)
- --------------------------------------------------------------------------------
- ---------------
(1) The Reporting Person disclaims any beneficial ownership of the
shares reported on this joint 13G. The reported shares are owned
beneficially by registered investment companies for which the
Reporting Person serves as an adviser, and includes the shares
reported in this joint 13G by SAFECO Common Stock Trust.
Page 3 of 8 Pages
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CUSIP No. 024757106
---------
- --------------------------------------------------------------------------------
1) Name of Reporting Person SAFECO Corporation
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group -----------------------------
(See Instructions) (b)
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Citizenship or Place of State of Washington
Organization
- --------------------------------------------------------------------------------
Number of (5) Sole Voting
Shares Bene- Power 0
ficially ------------------------------------------------------------
Owned by (6) Shared Voting
Reporting Power 675,300
Person With ------------------------------------------------------------
(7) Sole Disposi-
tive Power 0
------------------------------------------------------------
(8) Shared
Dispositive Power 675,300
- --------------------------------------------------------------------------------
9) Aggregate Amount Bene- 675,300(2)
ficially Owned by
Reporting Person
- --------------------------------------------------------------------------------
10) Check if the Aggregate
Amount in Row (9) Excludes
Certain Shares (See Instructions)
- --------------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row 9 11.7%
- --------------------------------------------------------------------------------
12) Type of Reporting Person HC
(See Instructions)
- --------------------------------------------------------------------------------
- ---------------
(2) The Reporting Person disclaims any beneficial ownership of the
shares reported on this joint 13G. The reported shares are
owned beneficially by registered investment companies for
which a subsidiary of the Reporting Person serves as an
adviser.
Page 4 of 8 Pages
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CUSIP No. 024757106
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Item 1(a). Name of Issuer: See front cover
Item 1(b). Address of Issuer Principal Executive Offices:
P.O. Box 800, Eufaula, AL 36027
Item 2(a). Name of Person(s) Filing: See Item 1 on cover page (pp 2-4).
Item 2(b). Address of Principal Business Office or, If None, Residence:
SAFECO Plaza, Seattle, WA 98185
Item 2(c). Citizenship: See Item 4 on cover page (pp 2-4).
Item 2(d). Title of Class of Securities: See front cover page.
Item 2(e). CUSIP Number: See front cover page.
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-
2(b), check whether the persons filing are:
(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) (X) Investment Company registered under Section 8 of the
Investment Company Act.
(e) (X) Investment Advisor registered under Section 203 of the
Investment Advisers Act of 1940.
(f) ( ) Employee Benefit Plan, Pension Fund which is subject to
provisions of Employee Retirement Income Security Act
of 1974 or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F).
(g) (X) Parent Holding Company in accordance with Rule 13d-
1(b)(ii)(G).
(h) ( ) Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Page 5 of 8 Pages
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CUSIP No. 024757106
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Item 4. Ownership:
Items (a) through (c): See items 1 and 5-11 of the cover pages
(pp 2-4).
SAFECO Asset Management Company and SAFECO Corporation
expressly declare that the filing of this statement on
Schedule 13G shall not be construed as an admission that they
are, for the purposes of Section 13(d) or 13(g) of the
Securities and Exchange Act of 1934, the beneficial owners of
any securities covered by this statement. Each of such
companies is filing this statement because it is considered an
indirect beneficial owner of such securities based on its
ownership or control of one or more investment companies which
directly own such shares.
Item 5. Ownership of 5% or Less of a Class: Not applicable.
Item 6. Ownership of More than 5% 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.
SAFECO Asset Management Company is the subsidiary on which
SAFECO Corporation is reporting as the parent holding company.
SAFECO Asset Management Company is an investment adviser as
specified in Item 12 on the cover page (p. 3).
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.
Page 6 of 8 Pages
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CUSIP No. 024757106
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Exhibits.
The statement required by Rule 13d-1(f) is attached as Exhibit A.
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.
Date: February 10, 1997 SAFECO Corporation
By /s/ Ronald L. Spaulding
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Ronald L. Spaulding, Treasurer
SAFECO Common Stock Trust
By /s/ Ronald L. Spaulding
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Ronald L. Spaulding, Treasurer
SAFECO Asset Management Company
By /s/ Neal A. Fuller
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Neal A. Fuller, Secretary
Page 7 of 8 Pages
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EXHIBIT A
Agreement for filing Schedule 13-G.
Pursuant to the requirements of Regulation 13d-1(d), SAFECO Corporation and
SAFECO Asset Management Company each agree that Schedule 13-G filed by them with
regard to American Buildings Co.'s common stock is filed on behalf of each of
them.
Date: February 10, 1997 SAFECO Corporation
By /s/ Ronald L. Spaulding
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Ronald L. Spaulding, Treasurer
SAFECO Common Stock Trust
By /s/ Ronald L. Spaulding
-------------------------------------
Ronald L. Spaulding, Treasurer
SAFECO Asset Management Company
By /s/ Neal A. Fuller
-------------------------------------
Neal A. Fuller, Secretary
Page 8 of 8 Pages
