EVEREN UNIT INVESTMENT TRUSTS SERIES 51
S-6EL24, 1996-07-16
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<PAGE>
 
     AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 16, 1996
                                                 REGISTRATION NO. 33-
                                                 CIK #910919

                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549


                            REGISTRATION STATEMENT
                                      ON
                                   FORM S-6


               FOR REGISTRATION UNDER THE SECURITIES ACT OF 1933
                    OF SECURITIES OF UNIT INVESTMENT TRUSTS
                           REGISTERED ON FORM N-8B-2

A.  EXACT NAME OF TRUST:  EVEREN Unit Investment Trusts, Series 51

B.  NAME OF DEPOSITOR:  EVEREN Securities, Inc.

C.  COMPLETE ADDRESS OF DEPOSITOR'S PRINCIPAL EXECUTIVE OFFICES:

                         EVEREN Unit Investment Trusts
                       77 West Wacker Drive, 29th Floor
                             Chicago, Illinois  60601
 
D.   NAME AND COMPLETE ADDRESS OF AGENT FOR SERVICE:
                                                           Copy to:
             Robert K. Burke                             MARK J. KNEEDY
        EVEREN Unit Investment Trusts                 c/o Chapman and Cutler
        77 West Wacker Drive, 29th Floor              111 West Monroe Street
            Chicago, Illinois  60601                  Chicago, Illinois  60603
 
                        CALCULATION OF REGISTRATION FEE

  Title and amount of                    Proposed maximum        Amount of
 securities being registered             aggregate offering    registration fee
                                               price

     Series 51    An indefinite number of     Indefinite             $500
                  Units of Beneficial Interest
                  pursuant to Rule 24f-2 under
                  the Investment Company Act of 1940

- - --------------------------------------------------------------------------------

E.   APPROXIMATE DATE OF PROPOSED SALE TO PUBLIC:

     As soon as practicable after the effective date of the Registration
     Statement.

     The registrant hereby amends this Registration Statement on such date or
dates as may be necessary to delay its effective date until the registrant shall
file a further amendment which specifically states that this Registration
Statement shall thereafter become effective in accordance with Section 8(a) of
the Securities Act of 1933 or until the Registration Statement shall become
effective on such date as the Commission, acting pursuant to said Section 8(a)
may determine.
<PAGE>
 
                   EVEREN UNIT INVESTMENT TRUSTS, SERIES 51

                           -------------------------

                             CROSS-REFERENCE SHEET

                (FORM N-8B-2 ITEMS REQUIRED BY INSTRUCTIONS AS
                        TO THE PROSPECTUS IN FORM S-6)

<TABLE>
<CAPTION>
        Form N-8B-2                                                   Form S-6
        Item Number                                             Heading in Prospectus
        -----------                                             ---------------------
<S>                                                             <C>
                   I.  ORGANIZATION AND GENERAL INFORMATION

 1.  (a) Name of trust.....................................     }Prospectus front cover
     (b) Title of securities issued........................     }Essential Information
 2.  Name and address of each depositor....................     }Administration of the Trusts
 3.  Name and address of trustee...........................     }   *
 4.  Name and address of principal.........................     }Underwriting  
 5.  State of organization of trust........................     }The Trust Funds
 6.  Execution and termination of trust
      agreement............................................     }The Trust Funds;
                                                                }Administration of the Trusts
 7.  Changes of name.......................................     }The Trust Funds
 8.  Fiscal year...........................................     }   *
 9.  Litigation............................................     }   *

                   II.  GENERAL DESCRIPTION OF THE TRUST AND
                               SECURITIES OF THE TRUST

10.  (a) Registered or bearer securities...................     }Unitholders
     (b) Cumulative or distributive securities.............     }The Trust Funds
     (c) Redemption........................................     }Redemption
     (d) Conversion, transfer, etc.........................     }Unitholders; Market for Units
     (e) Periodic payment plan.............................     }  *
     (f) Voting rights.....................................     }Unitholders
                                                                }Investment Supervision;
     (g) Notice of certificateholders......................     }Administration of the Trusts;
                                                                }Unitholders
     (h) Consents required.................................     }Unitholders; Administration
                                                                }of the Trusts
     (i) Other provisions..................................     }Federal Tax Status; Insurance
                                                                }on the Portfolios of the
                                                                }Insured Trust Funds

</TABLE>

                                       i
<PAGE>
 
<TABLE> 
<CAPTION> 
<S>                                                             <C> 
11.  Type of securities comprising  units..................     }The Trust Funds; Portfolios
12.  Certain information regarding periodic
      payment certificates.................................     }   *
13.  (a) Load, fees, expenses, etc.........................     }Interest, Estimated Long-Term
         ..................................................     }Return
                                                                }and Estimated Current
                                                                }Return; Expenses of the
                                                                }Trust
     (b) Certain information regarding periodic
          payment certificates.............................     }   *
     (c)  Certain percentages..............................     }Essential Information; Public
          .................................................     }Offering of Units; Insurance
          .................................................     }on the Portfolios of the
          .................................................     }Insured Trust Funds
     (d) Certain other fees, etc. payable
           by holders......................................     }Unitholders
     (e) Certain profits receivable by depositor,
          principal, underwriters, writers,                     }Expenses of the Trusts;
          trustee or affiliated persons....................     }Public Offering of Units
     (f)  Ratio of annual charges to income................     }   *
 
                                                                }The Trust Funds;
14.  Issuance of trust's securities........................     }Unitholders
15.  Receipt and handling of payments
      from purchasers......................................     }   *
16.  Acquisition and disposition of underlying
      securities...........................................     }The Trust Funds; Portfolios;
                                                                }Investment Supervision
                                                                }Market for Units;
17.  Withdrawal or redemption..............................     }Redemption; Public Offering
                                                                }of Units
18.  (a) Receipt, custody and disposition
          of income........................................     }Unitholders
     (b) Reinvestment of distributions                          }Distribution Reinvestment
     (c) Reserves or special funds.........................     }Expenses of the Trusts
     (d) Schedule of distributions.........................         *
                                                                }Unitholders;
19.  Records, accounts and reports.........................     }Redemption; Administration
                                                                }of the Trusts
20.  Certain miscellaneous provisions of trust agreement
     (a) Amendment.........................................     }Administration of the Trusts
     (b) Termination.......................................     }   *
     (c) and (d) Trustee, removal and successor............     }Administration of the Trusts
     (e) and (f) Depositor, removal and
</TABLE> 

                                      ii
<PAGE>
 
<TABLE> 
<CAPTION> 
<S>                                                             <C> 

         successor.........................................     }Administration of the Trusts
21.  Loans to security holders.............................     }   *
22.  Limitations on liability..............................     }Administration of the Trusts
23.  Bonding arrangements..................................     }   *
24.  Other material provisions of trust
      agreement............................................     }   *
 
                   III.  ORGANIZATION, PERSONNEL AND
                    AFFILIATED PERSONS OF DEPOSITOR
 
25.  Organization of depositor.............................     }Administration of the Trusts
26.  Fees received by depositor............................     }See Items 13(a) and 13(e)
27.  Business of depositor.................................     }Administration of the Trusts
28.  Certain information as to officials and
      affiliated persons of depositor......................     }Administration of the Trusts
29.  Voting securities of depositor........................     }   *
                                                                }Administration of the Trusts
30.  Persons controlling depositor.........................     }   *
31.  Payment by depositor for certain services
      rendered to trust....................................     }   *
32.  Payment by depositor for certain other
      services rendered to trust...........................     }   *
 
33.  Remuneration of employees of depositor                     }   
      for certain services rendered to trust...............     }   *
34.  Remuneration of other persons for certain                  }
      services rendered to trust...........................     }   *
 
                   IV.  DISTRIBUTION AND REDEMPTION
 
35.  Distribution of Trust's securities
      by states............................................     }Public Offering of Units
36.  Suspension of sales of trust's securities..............    }   *
37.  Revocation of authority to distribute.................     }   *
38.  (a)  Method of Distribution...........................     }Public Offering of Units;
     (b)  Underwriting Agreements..........................     }Market for Units;
     (c)  Selling Agreements...............................     }Public Offering of Units
39.  (a)  Organization of principal
           underwriters....................................     }Administration of the Trusts
     (b)  N.A.S.D. membership of principal                      }
           underwriters....................................     }   *
40.  Certain fees received by principal
      underwriters.........................................     }See Items 13(a) and 13(e)
41.  (a) Business of principal underwriters................     }Administration of the Trusts
</TABLE> 

                                      iii
<PAGE>
 
<TABLE> 
<CAPTION> 
<S>                                                             <C> 


     (b)  Branch offices of principal                           }
           underwriters....................................     }   *
     (c)  Salesmen of principal underwriters...............     }   *
42.  Ownership of trust's securities by                         }
      certain persons......................................     }   *
43.  Certain brokerage commissions received by
      principal underwriters...............................     }Public Offering of Units
44.  (a)  Method of valuation..............................     }Public Offering of Units
     (b)  Schedule as to offering price....................     }   *
     (c)  Variation in offering price to
           certain persons.................................     }Public Offering of Units
45.  Suspension of redemption rights.......................     }Redemption
                                                                }Redemption; Market for
46.  (a)  Redemption valuation.............................     }Units; Public Offering of
                                                                }Units                                                             
     (b)  Schedule as to redemption price..................     }   *
                                                                }Market for Units;
47.  Maintenance of position in underlying.................     }Public Offering of Units;                 
                                                                }Redemption
 
                   V.  INFORMATION CONCERNING THE TRUSTEE
                                  OR CUSTODIAN
 
48.  Organization and regulation of........................     }Administration of the Trusts    
49.  Fees and expenses of trustee..........................     }Expenses of the Trusts
50.  Trustee's lien........................................     }   *

                   VI.  INFORMATION CONCERNING INSURANCE OF
                              HOLDERS OF SECURITIES

51.  Insurance of holders of trust's
      securities...........................................     }Cover Page; Expenses of the
                                                                }Trusts; Insurance on the
                                                                }Portfolios of the Insured Trust
                                                                }Funds

                   VII.  POLICY OF REGISTRANT

52.  (a)  Provisions of trust agreement with
           respect to selection or elimination.............     }The Trust Funds; Portfolios;
           of underlying securities........................     }Investment Supervision
     (b)  Transactions involving elimination of
           underlying securities...........................     }   *
</TABLE>

                                      iv
<PAGE>
 
<TABLE> 
<CAPTION> 
<S>                                                             <C> 


     (c)  Policy regarding substitution or elimination
           of underlying securities........................     }Investment Supervision
     (d)  Fundamental policy not otherwise
           covered.........................................     }   *
                                                                }Essential Information;
53.  Tax status of Trust...................................     }Portfolios
                                                                }Federal Tax Status
 
                   VIII.  FINANCIAL AND STATISTICAL INFORMATION
 
54.  Trust's securities during last ten years..............     }   *
55.                                                             }   *
56.  Certain information regarding periodic................     }   *
57.   payment certificates..................................    }   *
58.                                                             }   *
59.  Financial statements (Instruction 1(c)
      to Form S-6).........................................     }   *
</TABLE> 

                                       v
<PAGE>
 
                  PRELIMINARY PROSPECTUS DATED JULY 16, 1996
                   EVEREN Unit Investment Trusts, Series 51


                                                       (A Unit Investment Trust)

     The attached final Prospectus for a prior Series of the Fund is hereby used
as a preliminary Prospectus for the above stated Series. The narrative
information and structure of the attached final Prospectus will be substantially
the same as that of the final Prospectus for this Series. Information with
respect to pricing, the number of Units, dates and summary information regarding
the characteristics of securities to be deposited in this Series is not now
available and will be different since each Series has a unique Portfolio.
Accordingly the information contained herein with regard to the previous Series
should be considered as being included for informational purposes only. Ratings
of the securities in this Series are expected to be comparable to those of the
securities deposited in the previous Series. However, the Estimated Current
Return for this Series will depend on the interest rates and offering prices of
the securities in this Series and may vary materially from that of the previous
Series.

     A registration statement relating to the units of this Series will be filed
with the Securities and Exchange Commission but has not yet become effective.
Information contained herein is subject to completion or amendment. Such Units
may not be sold nor may offer to buy be accepted prior to the time the
registration statement becomes effective. This Prospectus shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any
sale of the Units in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
any such state.

(Incorporated herein by reference is the final prospectus from EVEREN Unit
Investment Trust, Series 48 (Registration No. 333-03467) as filed on May 15,
1996, which shall be used as a preliminary prospectus for the current Series of
the Fund.)
<PAGE>
 
                      CONTENTS OF REGISTRATION STATEMENT

      This Registration Statement on Form S-6 comprises the following papers and
documents:
       The facing sheet of Form S-6
       The Cross-Reference Sheet
       The Prospectus
       The signatures

The following exhibits:
1.1     Form of Trust Indenture and Agreement for the Trust (to be filed by
        amendment).

1.1.1  Standard Terms and Conditions of Trust for the Trust (to be filed by
       amendment).

2.1    Form of Certificate of Ownership (pages two to four, inclusive, of the
       Standard Terms and Conditions of Trust included as Exhibit 1.1.1).

3.1    Opinion of counsel to the Sponsor as to legality of the securities being
       registered including a consent to the use of its name under the headings
       "Federal Tax Status" and "Legal Opinions" in the Prospectus (to be filed
       by amendment).

4.1    Consent of Standard & Poor's (to be filed by amendment).

4.2    Consent of Cantor Fitzgerald & Co. (to be filed by amendment).

4.3    Consent of Grant Thornton LLP (to be filed by amendment).

                                      S-1
<PAGE>
 
SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933, the Registrant,
EVEREN Unit Investment Trusts, Series 51, has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Chicago, and State of Illinois, on the 16th day of
July, 1996.

                                        EVEREN Unit Investment Trusts, Series 51
                                           Registrant

                                        By:  EVEREN SECURITIES, INC.
                                             Depositor

                                        By:
                                             ------------------------
                                                Robert K. Burke

     Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below on July 16, 1996 by the following
persons, who constitute a majority of the Board of Directors of EVEREN
Securities, Inc.

              Signature               Title
              ---------               -----

    /s/ James R. Boris                Chairman and Chief Executive Officer
 -------------------------------                                      
        James R. Boris

    /s/ Daniel D. Williams            Senior Executive Vice President, Chief
 -------------------------------      Financial Officer and Treasurer
        Daniel D. Williams             

    /s/ Frank V. Geremia              Senior Executive Vice President
 -------------------------------                                    
        Frank V. Geremia

    /s/ Stephen G. McConahey          President and Chief Financial Officer
 -------------------------------                                           
        Stephen G. McConahey

    /s/ Stanley E. Fallis             Senior Executive Vice President and Chief
 -------------------------------      Administrative Officer
        Stanley E. Fallis              

    /s/ David M. Greene               Senior Executive Vice President and
 -------------------------------      Director of Client Services
        David M. Greene                 

    /s/ Thomas R. Reedy               Senior Executive Vice President and
- - --------------------------------      Director of Capital Markets
        Thomas R. Reedy                

                                      S-2
<PAGE>
 
    /s / Janet L. Reali                  Executive Vice President, Corporate
- - --------------------------------         Counsel and Corporate Secretary
         Janet L. Reali                    




                                         ------------------------------------
                                                    Robert K. Burke

     Robert K. Burke signs these documents pursuant to Power of Attorney filed
with the Securities and Exchange Commission with Amendment No. 1 to the
Registration Statement on Form S-6 for EVEREN Unit Investment Trusts Series 39
(Registration No. 33-63111).

                                      S-3


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