<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 1
Consolidated Freightways Corporation
----------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
----------------------------------------
(Title of Class of Securities)
209232107
------------------------
(CUSIP Number)
Page 1 of 5 Pages
<PAGE>
- ------------
CUSIP NO.
209232107
- ------------
- ----------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
- ----------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a)
---
(b)
---
- ----------------------------------------------------------------------------
3. SEC Use Only
- ----------------------------------------------------------------------------
4. Citizenship or place of Organization
New York
- ----------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares
Beneficially 0
------------------------------
Owned By 6. Shared Voting Power
Each
Reporting 581,750
------------------------------
Person With 7. Sole Dispositive Power
0
------------------------------
8. Shared Dispositive Power
581,750
------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
581,750
- ----------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
- ----------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
2.6%
- ----------------------------------------------------------------------------
12. Type of Reporting Person
BD-PN-IA
- ----------------------------------------------------------------------------
Page 2 of 5 Pages
<PAGE>
- ------------
CUSIP NO.
209232107
- ------------
- ----------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, 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
Beneficially 0
------------------------------
Owned By 6. Shared Voting Power
Each
Reporting 581,750
------------------------------
Person With 7. Sole Dispositive Power
0
------------------------------
8. Shared Dispositive Power
581,750
------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
581,750
- ----------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
- ----------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
2.6%
- ----------------------------------------------------------------------------
12. Type of Reporting Person
HC-PN
- ----------------------------------------------------------------------------
Page 3 of 5 Pages
<PAGE>
Item 4. Ownership
Not applicable. The percent of the class owned as of July 30,
1997 did not exceed five percent.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting persons have ceased to be the
beneficial owners of more than five percent of the class of
securities, check the following X .
---
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
See Exhibit (99.2) as previously reported.
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 aparticipant in any transaction having such
purpose or effect.
Page 4 of 5 Pages
<PAGE>
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: August 10, 1997
THE GOLDMAN SACHS GROUP, L.P.
By: The Goldman Sachs Corporation,
its general partner
By: /s/ Eric M. Mindich
-------------------------------
Name: Eric M. Mindich
Title: Executive Vice President
GOLDMAN, SACHS & CO.
By: /s/ Eric M. Mindich
-------------------------------
Name: Eric M. Mindich
Title: Managing Director
Page 5 of 5 Pages
