SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
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)
July 31, 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
1,250,000
8. SHARED VOTING POWER
100,000
9. SOLE DISPOSITIVE POWER
1,250,000
10. SHARED DISPOSITIVE POWER
100,000
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,350,000
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
<PAGE>
Cusip No. 866881-10-5 Page 3 of 6
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
7.74%
14. TYPE OF REPORTING PERSON
IN
<PAGE>
Cusip No. 866881-10-5 Page 4 of 6
SCHEDULE 13D
(Amendment No. 1)
NOTE: All capitalized terms used in this Amendment No.
1 and not defined herein shall have the same meaning as in
the previously filed statement of Peter R. Kellogg on
Schedule 13D. Except as expressly stated below, there have
been no material changes in the information contained in
such Schedule 13D.
Item 2. Identity and Background
The person filing this Statement is Peter R. Kellogg.
This statement contains information regarding shares of
Common Stock owned by Mr. Kellogg, the Peter R. Kellogg &
Cynthia Kellogg Foundation (the "Foundation"), a charitable
entity of which Peter Kellogg is a trustee, and IAT
Reinsurance Syndicate Ltd. ("IAT"), a Bermuda corporation of
which Mr. Kellogg is the sole holder of voting stock. Mr.
Kellogg has sole dispositive and voting power with respect
to the shares held personally and held by IAT and shared
dispositive and voting power with respect to the shares of
held by the Foundation. Although shares of Common Stock
owned by IAT and the Foundation may be deemed to be
beneficially owned by Mr. Kellogg, the filing of this
Statement should not be deemed an admission that Mr. Kellogg
beneficially owns such shares or that the Foundation or IAT,
or any other person or persons referred to herein constitute
a "group" within the meaning of Section 13(d)(3) of the
Securities Exchange Act of 1934 (the "1934 Act"), and the
rules and regulations thereunder.
The Foundation's business address is:
c/o Spear, Leeds & Kellogg
120 Broadway
New York, New York 10271
IAT's business address is:
c/o Spear, Leeds & Kellogg
120 Broadway
New York, New York 10271
<PAGE>
Mr. Kellogg's principal occupation is:
Senior Managing Director
Spear, Leeds & Kellogg
120 Broadway
New York, New York 10271
Spear, Leeds & Kellogg is a registered securities
broker-dealer.
During the last five years neither Mr. Kellogg, nor any
executive officer of IAT, has been convicted in a criminal
proceeding nor has he or any executive officer been a party
to a civil proceeding of a judicial or administrative body
of competent jurisdiction as a result of which such person
was or is 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 violation with respect to such laws.
Mr. Kellogg is a citizen of the United States. IAT is
a Bermuda corporation. The Foundation is a New Jersey
corporation domiciled in New Jersey.
<PAGE>
Cusip No. 866881-10-5 Page 5 of 6
Item 3. Source and Amount of Funds or Other Consideration
The aggregate purchase price of the 80,100 shares of
Common Stock recently purchased by Peter R. Kellogg was
$180,225 and consisted of capital funds of Mr. Kellogg and
margin account funds provided by Spear, Leeds & Kellogg.
The aggregate purchase price of the 270,000 shares of Common
Stock recently purchased by IAT was $555,562.50 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 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.
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 August 7, 1997, Mr. Kellogg may be deemed the
beneficial owner of 1,350,000 shares of the Common Stock of
Sun Television & Appliances, Inc. Of those shares, 980,000
were owned by Mr. Kellogg personally, 100,000 were owned by
the Foundation and 270,000 were owned by IAT.
<PAGE>
(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 1934 Act since July 2, 1997.
<TABLE>
Peter R. Kellogg
<CAPTION>
<S> <C> <C> <C>
Date of Number of Type of Price
Transaction Shares Transaction Per Share
___________ _________ ___________ ________
07/17/97 600 Gift N/A
08/07/97 80,100 OTC Buy 2.25
</TABLE>
<TABLE>
IAT Reinsurance Syndicate Ltd.
<CAPTION>
<S> <C> <C> <C>
Date of Number of Type of Price
Transaction Shares Transaction Per Share
07/09/97 50,000 OTC Buy 2.03125
07/10/97 50,000 OTC Buy 2.00
07/15/97 50,000 OTC Buy 2.00
07/18/97 20,000 OTC Buy 2.00
07/31/97 100,000 OTC Buy 2.14
</TABLE>
<PAGE>
Cusip No. 866881-10-5 Page 6 of 6
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: August 11, 1997
/s/Peter R. Kellogg
Peter R. Kellogg
DC1DOCS1.56124
