UNITED STATES
SECURITY AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No._____)*
Peerless Group, Inc.
____________________________________________
(Name of Issuer)
Common Stock
________________________________________
(Title of Class of Securities)
705499-101
________________________________________
(CUSIP Number)
Mr. Rodney L. Armstrong
Chairman and CEO
Peerless Group Inc.
1212 East Arapaho Road
Richardson, TX 75081 (972)-497-5949
__________________________________________________________________
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
April 18, 1997
____________________________________________
(Date of Event which Requires Filing of this Statement)
SCHEDULE 13D
CUSIP No. 705499-101
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIIFICATION NO. OF ABOVE PERSON
Hathaway Partners Investment Limited Partnership
119 Rowayton Avenue
Rowayton, CT 06853 Tax ID # 06-1384314
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP a)
NA b)
3 SEC USE ONLY
4 SOURCE OF FUNDS
00 Investment by Partners for investment purposes only
5 CHECK BOS IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2d or 2e
NA
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Rowayton, CT USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
7 SOLE VOTING POWER
300,000
8 SHARED VOTING POWER
9 SOLE DISPOSITIVE POWER
300,000
10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,000 (Three hundred thousand shares)
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
NA
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8% (Five and eight tenths percent)
14 TYPE OF REPORTING PERSON*
PN General Partner: Hathaway Partners,
Inc.
Hathaway Partners ILP Carl E. Hathaway President,
Brian K.
119 Rowayton Ave Hathaway VP, C. Nichols
Hathaway VP/SEC
Rowayton, CT 06853
