<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)<F*>
D & K Wholesale Drug, Inc.
- ------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- ------------------------------------------------------------------------------
(Title of Class of Securities)
232861 10 4
------------------------------
(CUSIP Number)
[FN]
<F*>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 1 of 5
<PAGE> 2
CUSIP No. 232861 10 4 13G
==============================================================================
1 NAMES OF REPORTING PERSONS/
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Gateway Venture Partners II, L.P.
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) / /
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
502,270
BENEFICIALLY ----------------------------------------------------------------
6 SHARED VOTING POWER
OWNED BY
0
EACH ----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 502,270
----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
502,270
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
/ /
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
16.5%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
==============================================================================
Page 2 of 5
<PAGE> 3
Item A. Name of Issuer:
D & K Wholesale Drug, Inc. (the "Company")
Item B. Address of Issuer's Principal Executive Offices:
8000 Maryland Avenue, Suite 1190
St. Louis, Missouri 63105
Item 2(a) Name of Person Filing:
Gateway Venture Partners II, L.P.
Item 2(b) Address of Principal Business Offices or, if none,
Residence:
8000 Maryland Avenue, Suite 1190
St. Louis, Missouri 63105
Item 2(c) Citizenship
Delaware
Item 2(d) Title of Class of Securities:
Common Stock, $.01 par value
Item 2(e) CUSIP Number:
232861 10 4
Item 3. If this Statement is filed pursuant to Rules 13d-1(b)
or 13d-2(b), check whether the person filing is a:
(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) [ ] Investment Company registered under Section 8
of the Investment Company Act
(e) [ ] Investment Adviser registered under Section
203 of the Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or
Endowment Fund; see
Section 240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with
Section 240.13d-1(b)(ii)(G)
(h) [ ] Group, in accordance with
Section 240.13d-1(b)(1)(ii)(H)
Page 3 of 5
<PAGE> 4
Item 4. Ownership.
(a) Amount Beneficially Owned:
502,270
(b) Percent of Class:
16.5%<F*>
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
502,270
(ii) Shared power to vote or to direct the vote
0
(iii) Sole power to dispose or to direct the
disposition of
502,270
(iv) Shared power to dispose or to direct the
disposition of
0
Item 5. Ownership of Five Percent or Less of a Class.
NOT APPLICABLE
Item 6. Ownership of More than Five Percent 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.
NOT APPLICABLE
Item 8. Identification and Classification of Members of the
Group.
NOT APPLICABLE
[FN]
- ------------------------
<F*>Computational Note: Based upon 3,044,717 shares of the
------------------
Company's Common Stock issued and outstanding as of
December 31, 1996.
Page 4 of 5
<PAGE> 5
Item 9. Notice of Dissolution of Group.
NOT APPLICABLE
Item 10. Certification.
NOT APPLICABLE
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth on this statement is true, complete and
correct.
GATEWAY VENTURE PARTNERS II, L.P.
By: GATEWAY ASSOCIATES L.P., its General Partner
By: /s/ Richard F. Ford
-----------------------------------------------
Richard F. Ford
General Partner
February 14, 1997
Page 5 of 5
