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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )*
SPRINGS INDUSTRIES, INC.
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(Name of Issuer)
$.25 Par Value Common Stock Class B
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(Title of Class of Securities)
851783-10-0
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(CUSIP Number)
Check the following box if a fee is being paid with this statement / /.
(A fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*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).
(Continued on following page(s))
Page 1 of 8 Pages
AMENDMENT MATERIAL TO THE ORIGINAL FILINGS
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CUSIP NO. 851783-10-0 SCHEDULE 13G PAGE 2 OF 8 PAGES
--------------------- ----- -----
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Hugh William Close, Jr.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]
(B) [ X ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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(5) SOLE VOTING POWER
0
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(6) SHARED VOTING POWER
NUMBER OF 1,824,723 -- Class B
SHARES 3,392 -- Class A
BENEFICIALLY
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 82,364 -- Class B
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(8) SHARED DISPOSITIVE POWER
1,824,723 -- Class B
3,392 -- Class A
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,907,087 -- Class B*
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES* [X]
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
27% -- Class B
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(12) TYPE OF REPORTING PERSON*
IN
* Does not include Class A shares
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
December 31, 1999
PAGE 2 OF 8 PAGES
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Introductory Comments
The following report is with respect to Class B stock. Filer also
beneficially owns 3,392 shares of Class A stock in his role as one of fourteen
(14) directors of Springs Foundation, Inc. and Close Foundation, Inc., a private
foundation. These shares are held in an investment fund managed by an
investment company retained by the Foundation. Class B stock carries voting
privileges equal to four times those to Class A. Class A stock may not convert
to Class B but Class B stock may convert to Class A at any time. See 13G for
year ending December 31, 1989 for information on rights of Class A versus Class
B stock.
At December 31, 1999, the Company reported that the outstanding shares of
Class A and Class B common stock were as follows:
Class A - 10,748,686
Class B - 7,156,663
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Total - 17,905,349
(End of Introductory Comments.)
December 31, 1999
Page 3 of 8 Pages
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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Item 1(a). Name of Issuer:
Springs Industries, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
205 North White Street
Fort Mill, South Carolina 29715
Item 2(a). Name of Person Filing:
Hugh William Close, Jr.
Item 2(b). Address of Principal Business Office or, If None,
Residence:
2385 Steele Road
Fort Mill, SC 29715
Item 2(c). Citizenship:
United States of America
Item 2(d). Title of Class of Securities:
$.25 par value common stock Class B
Item 2(e). CUSIP Number:
851783-10-0
Item 3. Statement Regarding Rules 13d-1(b) or 13d-2(b):
Not Applicable.
December 31, 1999
Page 4 of 8 pages
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Item 4. Ownership: *
(a) Amount Beneficially Owned:
Class B - 1,907,087 shares.
(b) Percent of Class:
27%
(c) Number of shares as to which
such person has:
(i) sole power to vote or
direct the vote:
0
(ii) shared power to vote or
direct the vote:
Class B - 1,824,723
Class A - 3,392
(iii) sole power to dispose or
direct the disposition of:
Class B - 82,364
(iv) shared power to dispose or
direct the disposition of:
Class B - 1,824,723
Class A - 3,392
Mr. Close disclaims beneficial ownership of all the shares shown above
except 82,364 shares as to which he has dispositive power, which are held by The
Springs Company, Lancaster, South Carolina, as trustee of a management trust
which is revocable by Mr. Close on April 9 of any year upon 30 days' notice.
* Mr. Close has shared power to vote and dispose of 3,392 shares of Class
A Stock of and Close Foundation, Inc., as a director of said
Foundation, which is not reflected as beneficially owned above. These
shares are referenced in paragraph (c) above, however, for purposes of
full disclosure.
December 31, 1999
Page 5 of 8 pages
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In addition, The Springs Company, Lancaster, South Carolina, owns
beneficially 1,955,229 shares (or 27%) of such stock (including 470,935 shares
held as trustee for Mr. Close's brothers and sisters); Kanawha Insurance
Company, (formerly Central Reassurance Corporation) Lancaster, South Carolina,
owns beneficially 175,000 shares (or 2%) of such stock. All outstanding stock of
The Springs Company and Kanawha Insurance Company is owned by: trusts for the
benefit of Mr. Close and his brothers and sisters (including those trusts
described in Item 6); and by The Springs Company as trustee of management trusts
for Mr. Close and his brothers and sisters.
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:
The shares shown in Item 4(c)(ii) and (iv), other than as provided in
subsection 2 below, are held by entities having the right to receive dividends
and proceeds of sale as follows:
1. (a) 1,824,723 shares (or 25%) held by Mr. Close, his mother
(Anne Springs Close), six of his seven brothers and sisters (Crandall
Close Bowles, Frances A. Close, Patricia Close, Leroy Springs Close,
December 31, 1999
Page 6 of 8 pages
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Elliott Springs Close, Derick Springsteen Close, and Katherine Anne Close), and
James Bradley as trustees for his brothers and sisters (each of such six
brothers and sisters is a beneficiary of trusts holding 325,298 shares and is
therefore not a trustee with respect to such shares);
(b) 82,364 shares (1%) (as to which Mr. Close has dispositive power)
held by The Springs Company as trustee of the management trust for Mr. Close
described in Item 4.
The trustees of these trusts may accumulate dividends or sale proceeds or
distribute them to the beneficiaries, except that Mr. Close is entitled to all
dividends on the shares held in the management trust.
2. 3,392 shares are held by Close Foundation, Inc., a private
foundation, of which Mr. Close, his family members, and employees of
family-owned companies constitute the Board of Directors.
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 the Group:
Not Applicable.
December 31, 1999
Page 7 of 8 pages
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Item 10. Certification:
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.
February 9, 2000 /s/ The Springs Company
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Harry B. Emerson, Secretary
Power of Attorney for
Hugh William Close, Jr.
December 31, 1999
Page 8 of 8 Pages
