<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5)
Latin American Discovery Fund, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of class of securities)
51828C106
- --------------------------------------------------------------------------------
(CUSIP number)
Check the following box if a fee is being paid with this statement / / (A fee is
not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in 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).
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).
<PAGE> 2
- --------------------------------- ------------------------------
CUSIP No. 51828C106 13G Page 2 of 8 Pages
- --------------------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan Stanley, Dean Witter, Discover & Co.
IRS # 39-314-5972
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
-----------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 320,233
-----------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
-----------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
1,164,546
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,164,546
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.02%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT !
<PAGE> 3
- --------------------------------- ------------------------------
CUSIP No. 51828C106 13G Page 3 of 8 Pages
- --------------------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan Stanley Asset Management Inc.
IRS # 13-304-0307
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
844,313
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
844,313
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.27%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT !
<PAGE> 4
- --------------------------------- ------------------------------
CUSIP No. 51828C106 13G Page 4 of 8 Pages
- --------------------------------- ------------------------------
<TABLE>
<S> <C>
Item 1 (a) Name of Issuer
- ----------------- ----------------------------
Latin American Discovery Fund, Inc.
Item 1 (b) Address of issuer's principal executive offices
- ----------------- ---------------------------------------------------------
1221 Avenue of the Americas
New York, New York 10020
Item 2 (a) Name of person filing
- ----------------- --------------------------------------------------------
(a) Morgan Stanley, Dean Witter, Discover & Co.
(b) Morgan Stanley Asset Management Inc.
Item 2 (b) Principal business office
- ----------------- --------------------------------------------------------
(a) 1585 Broadway
New York, New York 10036
(b) 1221 Avenue of the Americas
New York, New York 10020
Item 2 (c) Citizenship
- ----------------- ----------------------------
Incorporated by reference to Item 4 of the cover page pertaining to each
reporting person.
Item 2 (d) Title of class of Securities
- ----------------- --------------------------------------------------------
Common Stock
Item 2 (e) Cusip No.
- ----------------- ----------------------------
51828C106
Item 3 (a) Morgan Stanley, Dean Witter, Discover & Co. is (e) an Investment Adviser
- ----------------- registered under section 203 of the Investment Advisers Act of 1940.
(b) Morgan Stanley Asset Management Inc. is (e) an Investment Adviser registered
under Section 203 of the Investment Advisers Act of 1940.
Item 4 Ownership
- ----------------- ----------------------------
Incorporated by reference to Items (5) - (9) and (11) of the cover page.
</TABLE>
<PAGE> 5
- --------------------------------- ------------------------------
CUSIP No. 51828C106 13G Page 5 of 8 Pages
- --------------------------------- ------------------------------
<TABLE>
Item 5 Ownership of 5 Percent or Less of a Class
- ------ -------------------------------------------------
<S> <C>
Inapplicable
Item 6 Ownership of More than 5 Percent on Behalf of Another Person
- ------ ------------------------------------------------------------
Accounts managed on a discretionary basis by Morgan Stanley Asset
Management Inc., a wholly owned subsidiary of Morgan Stanley, Dean
Witter, Discover & Co., are known to have the right to receive or
the power to direct the receipt of dividends from, or the proceeds
from, the sale of such securities. No such account holds more than
5 percent of the class.
Item 7 Identification and Classification of the Subsidiary Which Acquired
- ------ ------------------------------------------------------------------
the Security Being Reported on By the Parent Holding Company
------------------------------------------------------------
Inapplicable
Item 8 Identification and Classification of Members of the Group
- ------ ---------------------------------------------------------
Inapplicable
Item 9 Notice of Dissolution of Group
- ------ ------------------------------
Inapplicable
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 purpose or effect.
</TABLE>
<PAGE> 6
- -------------------- -----------------
CUSIP No. 51828C106 13G Page 6 of 8 Pages
- -------------------- -----------------
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: September 11, 1997
Signature: /s/ Donald P. Ryan
-------------------------------------------------
Name/Title: Donald P. Ryan/Vice-President Morgan Stanley Asset
Management Inc.
-------------------------------------------------
MORGAN STANLEY ASSET MANAGEMENT, INC.
Date: September 11, 1997
Signature: /s/ Bruce Bromberg
-------------------------------------------------
Name/Title: Bruce Bromberg/Morgan Stanley & Co., Inc.
-------------------------------------------------
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
<TABLE>
<CAPTION>
INDEX TO EXHIBITS PAGE
----------------- ----
<S> <C> <C>
EXHIBIT 1 Agreement to Make a Joint Filing. 7
EXHIBIT 2 Secretary's Certificate Authorizing Bruce Bromberg 8
to Sign on behalf of Morgan Stanley, Dean Witter,
Discover & Co.
</TABLE>
<PAGE> 1
- -------------------- -----------------
CUSIP No. 51828C106 13G Page 7 of 8 Pages
- -------------------- -----------------
EXHIBIT 1 TO SCHEDULE 13G
September 11, 1997
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO. and MORGAN STANLEY ASSET
MANAGEMENT INC., hereby agree that, unless differentiated, this Schedule
13G is filed on behalf of each of the parties.
MORGAN STANLEY ASSET MANAGEMENT INC.
BY: /s/ Donald P. Ryan
-------------------------------------
Donald P. Ryan/Vice President Morgan Stanley Asset Management Inc.
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
BY: /s/ Bruce Bromberg
-------------------------------------
Bruce Bromberg/Morgan Stanley & Co., Incorporated
<PAGE> 1
SECRETARY'S CERTIFICATE
-----------------------
I, Charlene R. Herzer, a duly elected and acting Assistant Secretary of
Morgan Stanley, Dean Witter, Discover & Co., a corporation organized and
existing under the laws of the State of Delaware (the "Corporation"), certify
that, as approved by a Unanimous Consent of Directors in Lieu of a Meeting
dated as of May 31, 1997, the following persons are each authorized to sign
reports to be filed under Sections 13 and 16 of the Securities Exchange Act of
1934 on behalf of the Corporation, and such authorizations are in full force
and effect as of this date:
Stuart J. M. Breslow
Robert G. Koppenol
Bruce Bromberg
Robin Sherak
IN WITNESS WHEREOF, I have hereunto set my name and affixed the seal of
the Corporation as of the 3rd day of June, 1997.
/s/ CHARLENE R. HERZER
----------------------
CHARLENE R. HERZER
ASSISTANT SECRETARY
[SEAL]
