LEATHER FACTORY INC
SC 13G/A, 1999-10-04
LEATHER & LEATHER PRODUCTS
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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549
                               (Amendment No. 5)1



                                 SCHEDULE 13G


                   Under the Securities Exchange Act of 1934
                              (Amendment No. 5)(1)


                           The Leather Factory, Inc.
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                        Common Stock, $.0024, Par Value
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   522126101
- --------------------------------------------------------------------------------
                                 (CUSIP Number)









- ----------
(1)  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  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>

CUSIP No.  522126101                  13G                   Page 2   of 5  Pages


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     The Leather Factory, Inc. Employees' Stock Ownership Plan and Trust

________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]
     Not Applicable
_______________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION


     Texas, USA
________________________________________________________________________________
  NUMBER OF   | 5.   SOLE VOTING POWER
              |
   SHARES     |      692,606
              | ________________________________________________________________
BENEFICIALLY  | 6.   SHARED VOTING POWER
              |
  OWNED BY    |      None
              | ________________________________________________________________
    EACH      | 7.   SOLE DISPOSITIVE POWER
              |
  REPORTING   |     692,606
              |_________________________________________________________________
   PERSON     | 8.   SHARED DISPOSITIVE POWER
              |
    WITH      |      None
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


     692,606
________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          [_]
     Not applicable
________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


     7.03
________________________________________________________________________________
12.  TYPE OF REPORTING PERSON*


     EP
________________________________________________________________________________
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!


<PAGE>



Item 1.  (a)      Name of Issuer:
                  --------------

                  The Leather Factory, Inc.

         (b)      Address of Issuer's Principal Executive Offices:
                  -----------------------------------------------

                  3847 East Loop 820 South
                  Fort Worth, Texas 76119

Item 2.  (a)      Name of Person Filing:
                  ---------------------

                  The Leather Factory, Inc. Employees' Stock Ownership Plan and
                  Trust

         (b)      Address of Principal Business Office or, if none, Residence:
                  -----------------------------------------------------------

                  Arlington National Bank
                  5500 W. Arkansas
                  Arlington, TX  76016

         (c)      Citizenship:
                  -----------

                  Not Applicable

         (d)      Title of Class of Securities:
                  ----------------------------

                  Common Stock, $0.0024 par value

         (e)      CUSIP Number:
                  ------------

                  522126101

Item 3.  Type of Reporting Person:
         ------------------------

         Employee Benefit Plan


Item 4.  Ownership:
         ---------

         (a)      Amount Beneficially Owned:


                  692,606 shares of Common Stock



                               Page 3 of 5 Pages
                               -----------------


<PAGE>


         (b)      Percent of Class:

                  7.03

         (c)      Number of Shares as to which such person has:

                  (i)      Sole power to vote or to direct the vote:
                           692,606

                  (ii)     Shared power to vote or to direct the vote:
                           -0-

                  (iii)    Sole power to dispose or to direct the disposition
                           of:  692,606

                  (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.

Item 9.  Notice of Dissolution of Group:
         ------------------------------

         Not Applicable.

Item 10. Certification:
         -------------

         Not Applicable.


                               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:  October 4, 1999
                              The Leather Factory, Inc. Employees'
                              Stock Ownership Plan and Trust

                              By: Arlington National Bank



                              By:  /s/ Robert D. Roten
                                   ---------------------------------------------
                                       Robert D. Roten, Executive Vice President





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