SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Sun Television & Appliances, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
866881-10-5
(CUSIP Number)
Peter R. Kellogg
c/o Spear, Leeds & Kellogg
120 Broadway, New York, New York 10271
(212) 433-7000
(Name, address and telephone number of person
authorized to receive notices and communications)
September 4, 1997
(Date of event which requires filing of this statement)
(Continued on following page(s))
Page 1 of 6 Pages
<PAGE>
Cusip No. 866881-10-5 Page 2 of 6
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Peter R. Kellogg
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3. SEC USE ONLY
4. SOURCE AND AMOUNT OF FUNDS
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
7. SOLE VOTING POWER
1,450,000
8. SHARED VOTING POWER
100,000
9. SOLE DISPOSITIVE POWER
1,450,000
10. SHARED DISPOSITIVE POWER
100,000
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,550,000
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
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Cusip No. 866881-10-5 Page 3 of 6
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
8.888%
14. TYPE OF REPORTING PERSON
IN
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Cusip No. 866881-10-5 Page 4 of 6
SCHEDULE 13D
(Amendment No. 1)
NOTE: All capitalized terms used in this Amendment No.
2 and not defined herein shall have the same meaning as in
the previously filed statement of Peter R. Kellogg on
Schedule 13D, as amended. Except as expressly stated below,
there have been no material changes in the information
contained in such Schedule 13D, as amended.
Item 3. Source and Amount of Funds or Other Consideration
The aggregate purchase price of the 100,000 shares of
Common Stock recently purchased by Peter R. Kellogg was
$247,000 and consisted of capital funds of Mr. Kellogg and
margin account funds provided by Spear, Leeds & Kellogg.
The aggregate purchase price of the 100,000 shares of Common
Stock recently purchased by IAT Reinsurance Syndicate Ltd.
("IAT") was $246,880 and consisted of capital funds of Mr.
Kellogg and margin account funds provided by Spear, Leeds &
Kellogg.
Item 4. Purpose of Transaction
The Common Stock was acquired by Mr. Kellogg and IAT
for investment purposes only.
Neither Mr. Kellogg, the Peter R. Kellogg & Cynthia
Kellogg Foundation (the "Foundation") nor IAT have plans or
proposals which related to or which would result in any of
the actions specified in clauses (a) through (j) of Item 4
of Schedule 13D.
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Cusip No. 866881-10-5 Page 5 of 6
Mr. Kellogg, the Foundation and IAT may determine to
purchase additional shares of Common Stock at any time and
from time to time, subject to market and general economic
conditions, and any purchase or purchases may be effected
directly or through one or more entities controlled or
deemed to be controlled by Mr. Kellogg. Mr. Kellogg may
also sell or otherwise dispose of shares of Common Stock
owned directly or indirectly by him at any time or from time
to time, although he has no present plans or proposals to do
so. Any purchases or sales by Mr. Kellogg may be in the
open market, in a privately negotiated transaction or
otherwise.
Item 5. Interest in Securities of the Issuer
(a) As of September 8, 1997, Mr. Kellogg may be deemed
the beneficial owner of 1,550,000 shares of the Common Stock
of Sun Television & Appliances, Inc. Of those shares,
1,080,000 were owned by Mr. Kellogg personally, 100,000 were
owned by the Foundation and 370,000 were owned by IAT.
(b) The following table sets forth information with
respect to all purchases, sales or donations of the Common
Stock by Mr. Kellogg, the Foundation and IAT for purposes of
Section 13(d) of the Securities Exchange Act of 1934 since
August 11, 1997.
<TABLE>
Peter R. Kellogg
<CAPTION>
<S> <C> <C> <C>
Date of Number of Type of Price
Transaction Shares Transaction Per Share
___________ _________ ___________ ________
09/04/97 20,000 OTC Buy 2.4688
09/04/97 80,000 OTC Buy 2.4688
</TABLE>
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Cusip No. 866881-10-5 Page 6 of 6
<TABLE>
IAT Reinsurance Syndicate Ltd.
<CAPTION>
<S> <C> <C> <C>
Date of Number of Type of Price
Transaction Shares Transaction Per Share
08/21/97 100,000 OTC Buy 2.4700
</TABLE>
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
fourth in this Statement is true, complete and correct.
Dated: September 8, 1997
/s/Peter R. Kellogg
Peter R. Kellogg
DC1DOCS1.57599
