HOLLYBANK INVESTMENTS LP
SC 13G/A, 1999-06-07
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G
                                 (RULE 13D-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
              TO RULES 13D-L(B), (C) AND (D) AND AMENDMENTS THERETO
                             FILED PURSUANT TO 13D-2
                               (AMENDMENT NO. 1)*

                             BOX HILL SYSTEMS CORP.
                                (Name of Issuer)

                          COMMON STOCK, $.01 PAR VALUE
                         (Title of Class of Securities)

                                    10316R108
                                 (CUSIP Number)

                                  JUNE 2, 1999
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

                                / / Rule 13d-l(b)

                                /X/ Rule 13d-l(c)

                                / / Rule 13d-l(d)



* 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
disclosures provided in a prior cover page.

The information required on 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).



<PAGE>


                                  SCHEDULE 13G

- --------------------                                 -----------------
CUSIP NO. 10316R108                                  PAGE 2 OF 9 PAGES
- --------------------                                 -----------------

- ----------------------------------------------------------------------
1      NAME OF REPORTING PERSON
       SS. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON

       Hollybank Investments, LP
- ----------------------------------------------------------------------
2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*       (a) / /
                                                               (b) /x/
- ----------------------------------------------------------------------
3      SEC USE ONLY
- ----------------------------------------------------------------------
4      CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
- ----------------------------------------------------------------------
             5     SOLE VOTING POWER
 NUMBER OF
   SHARES          648,300
             ---------------------------------------------------------
BENEFICIALLY
  OWNED BY   6     SHARED VOTING POWER
    EACH
 REPORTING         0
             ---------------------------------------------------------
  PERSON
   WITH      7     SOLE DISPOSITIVE POWER

                   648,300
             ---------------------------------------------------------

             8     SHARED DISPOSITIVE POWER

                   0
- ----------------------------------------------------------------------

9      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       648,300
- ----------------------------------------------------------------------

10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
       SHARES
- ----------------------------------------------------------------------

11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       4.5% (See Note 1)
- ----------------------------------------------------------------------

12     TYPE OF REPORTING PERSON

       PN
- ----------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
     Note 1 - This Percentage is based on 14,361,000 shares of Common Stock
                         outstanding as of May 4, 1999.


<PAGE>


                                  SCHEDULE 13G

- --------------------                                 -----------------
CUSIP NO. 10316R108                                  PAGE 3 OF 9 PAGES
- --------------------                                 -----------------

- ----------------------------------------------------------------------
1      NAME OF REPORTING PERSON
       SS. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON

       Thistle Investments LLC
- ----------------------------------------------------------------------
2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*       (a) / /
                                                               (b) /x/
- ----------------------------------------------------------------------
3      SEC USE ONLY
- ----------------------------------------------------------------------
4      CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
- ----------------------------------------------------------------------
             5     SOLE VOTING POWER
 NUMBER OF
   SHARES          73,500
             ---------------------------------------------------------
BENEFICIALLY
  OWNED BY   6     SHARED VOTING POWER
    EACH
 REPORTING         0
             ---------------------------------------------------------
   PERSON
    WITH     7     SOLE DISPOSITIVE POWER

                   73,500
             ---------------------------------------------------------

             8     SHARED DISPOSITIVE POWER

                   0
- ----------------------------------------------------------------------

9      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       73,500
- ----------------------------------------------------------------------

10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
       SHARES
- ----------------------------------------------------------------------

11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       0.5% (See Note 1)
- ----------------------------------------------------------------------

12     TYPE OF REPORTING PERSON

       PN
- ----------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!
     Note 1 - This Percentage is based on 14,361,000 shares of Common Stock
                         outstanding as of May 4, 1999.

<PAGE>


                                  SCHEDULE 13G

- --------------------                                 -----------------
CUSIP NO. 10316R108                                  PAGE 4 OF 9 PAGES
- --------------------                                 -----------------

- ----------------------------------------------------------------------
1      NAME OF REPORTING PERSON
       SS. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON

       Dorsey R. Gardner
- ----------------------------------------------------------------------
2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*       (a) / /
                                                               (b) /x/
- ----------------------------------------------------------------------
3      SEC USE ONLY
- ----------------------------------------------------------------------
4      CITIZENSHIP OR PLACE OF ORGANIZATION

       U.S.A
- ----------------------------------------------------------------------
             5     SOLE VOTING POWER
 NUMBER OF
   SHARES          61,500 **Please refer to Item 4, Page 6 for
                   disclaimer of beneficial ownership
             ---------------------------------------------------------
BENEFICIALLY
  OWNED BY   6     SHARED VOTING POWER
    EACH
 REPORTING         0
             ---------------------------------------------------------
   PERSON
    WITH     7     SOLE DISPOSITIVE POWER

                   61,500 **Please refer to Item 4, Page 6 for disclaimer of
                   beneficial ownership
             ---------------------------------------------------------

             8     SHARED DISPOSITIVE POWER

                   0
- ----------------------------------------------------------------------

9      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       61,500 **Please refer to Item 4, Page 6 for disclaimer of beneficial
       ownership
- ----------------------------------------------------------------------

10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
       SHARES
- ----------------------------------------------------------------------

11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       0.4% (See Note 1) **Please refer to Item 4, Page 6 for
       disclaimer of beneficial ownership
- ----------------------------------------------------------------------

12     TYPE OF REPORTING PERSON

       IN
- ----------------------------------------------------------------------

*SEE INSTRUCTIONS BEFORE FILLING OUT!

Note 1 - This Percentage is based on 14,631,000 shares of Common Stock
outstanding as of May 4, 1999.


<PAGE>


                                  SCHEDULE 13G

- --------------------                                 -----------------
CUSIP NO. 10316R108                                  PAGE 5 OF 9 PAGES
- --------------------                                 -----------------


ITEM 1(A). NAME OF ISSUER:

      Box Hill Systems Corp. (the "Company").

ITEM I(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

      161 Avenue of the Americas, New York, New York  10013.

ITEM 2(A). NAME OF PERSON FILING:

      The Persons filing this statement are Hollybank Investments, LP, a
Delaware limited Partnership ("LP"), Thistle Investments LLC, a Delaware limited
liability company ("LLC") and Dorsey R. Gardner, the general partner of LP and
managing member of LLC ("Gardner").

ITEM 2(B). ADDRESS OF PRINCIPAL OFFICES OR, IF NONE, RESIDENCE:

      The Business Address of Gardner, LLC and LP is c/o Dorsey R. Gardner,
P.O. Box 190240, Miami Beach, Florida 33119.

ITEM 2(C). CITIZENSHIP:

      Hollybank Investments, LP - Delaware Thistle Investments LLC - Delaware
      Dorsey R. Gardner - U.S.A.

ITEM 2(D). TITLE OF CLASS OF SECURITIES:

      The title of the class of equity securities to which this statement
relates is the Common Stock, par value $.01 per share (the "Shares"), of the
Company.

ITEM 2(E). CUSIP NUMBER:

      10316R108


<PAGE>


                                  SCHEDULE 13G

- --------------------                                 -----------------
CUSIP NO. 10316R108                                  PAGE 6 OF 9 PAGES
- --------------------                                 -----------------


ITEM 3. IF THE STATEMENT IS BEING FILED PURSUANT TO RULE 13D-L(B), OR 13D-2(B)
OR (C), CHECK WHETHER THE FILING PERSON IS A:

(a)/ / Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);
(b)/ / Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)/ / Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C.
       78c);
(d)/ / Investment company registered under Section 8 of the Investment Company
       Act of 1940 (15U.S.C. 80a-8);
(e)/ / An investment adviser in accordance with l3d-l(b)(I)(ii)(E);
(f)/ / An employee benefit plan or endowment fund in accordance with 13d-I
       (b)(I)(ii)(F);
(g)/ / A parent holding company or control person in accordance with 13d-l(b)
       (1)(ii)(G);
(h)/ / A savings association as defined in Section 3(b) of the Federal Deposit
       Insurance Act (12 U.S.C.1813);
(i)/ / A church plan that is excluded from the definition of an investment
       company under Section 3(c)(14) of the Investment Company Act of 1940
       (15 U.S.C. 80a-3);
(j)/ / Group, in accordance with l3d-l(b)(l)(ii)(J).

If this statement is filed pursuant to 13d-1(c), check this box. /x/

ITEM 4. OWNERSHIP:

      The information in Items 5-11 on the cover pages (pages 2 through 4) of
this Schedule 13G is incorporated by reference.

      As of the date of this statement, LP is the beneficial owner of 648,300
Shares and LLC is the beneficial owner of 73,500 Shares. Gardner, as general
partner of LP and managing member of LLC may be deemed to beneficially own
Shares beneficially owned by LP and LLC. Except to the extent of his interest as
a limited partner in LP and a member of LLC, Gardner expressly disclaims such
beneficial ownership and the filing of this statement shall not be construed as
an admission that Gardner is the beneficial owner of the Shares owned by LP or
LLC and covered by this statement.



<PAGE>


                                  SCHEDULE 13G

- --------------------                                 -----------------
CUSIP NO. 10316R108                                  PAGE 7 OF 9 PAGES
- --------------------                                 -----------------


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 person had ceased to be the beneficial owner of more than
five percent of the class of securities, check the following

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.

      By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.


<PAGE>


                                  SCHEDULE 13G

- --------------------                                 -----------------
CUSIP NO. 10316R108                                  PAGE 8 OF 9 PAGES
- --------------------                                 -----------------


                                    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.

Dated: June 4, 1999

                               HOLLYBANK INVESTMENTS, LP

                               By: /s/ Dorsey R. Gardner
                                   ---------------------
                                   Dorsey R. Gardner
                                   General Partner

                               THISTLE INVESTMENTS LLC

                               By: /s/ Dorsey R. Gardner
                                   ---------------------
                                   Dorsey R. Gardner
                                   Managing Member

                                   /s/ Dorsey R. Gardner
                                   ---------------------
                                   Dorsey R. Gardner



      The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.

NOTE.  Six copies of this statement, including all exhibits, should be filed
with the Commission.

ATTENTION. INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).



<PAGE>


                                  SCHEDULE 13G

- --------------------                                 -----------------
CUSIP NO. 10316R108                                  PAGE 9 OF 9 PAGES
- --------------------                                 -----------------


                                  EXHIBIT INDEX



                            1 Joint Filing Agreement



<PAGE>


                                  EXHIBIT 99.1



<PAGE>


                                    AGREEMENT


      Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13G (or any amendment thereof) need be filed on their
behalf with respect to the beneficial ownership of any equity securities of Box
Hill Systems Corp. Or any subsequent acquisitions or dispositions of equity
securities of Box Hill Systems Corp. by any of the undersigned.

Dated:  June 4, 1999


                                    HOLLYBANK INVESTMENTS, LP



                                    By: /s/ Dorsey R. Gardner
                                       ----------------------
                                       Dorsey R. Gardner
                                       General Partner


                                    THISTLE INVESTMENTS LLC



                                    By: /s/ Dorsey R. Gardner
                                       ----------------------
                                       Dorsey R. Gardner
                                       Managing Member


                                       /s/ Dorsey R. Gardner
                                       ---------------------
                                       Dorsey R. Gardner




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