UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A-4
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.4)
TOREADOR ROYALTY CORPORATION
- --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK $0.15625 PAR VALUE
- --------------------------------------------------------------------------------
891041 10 5
- --------------------------------------------------------------------------------
(Cusip Number)
PETER L. FALB
33 BROAD STREET
BOSTON, MA 02109
Telephone: (617) 742-0666
Facsimile (617) 742-2304
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 25, 1998
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d- 1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ].
<PAGE>
- -------------------------- --------------------------
CUSIP No. 891041 10 5 SCHEDULE 13D/A-4 Page 2 of 9 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Peter Lawrence Falb ###-##-####
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
111,000
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 729,900
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 111,000
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
729,900
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
840,900
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.89%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
<PAGE>
- -------------------------- --------------------------
CUSIP No. 891041 10 5 SCHEDULE 13D/A-4 Page 3 of 9 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Edward Nathan Dane ###-##-####
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 729,900
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
729,900
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
729,900
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.66%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
================================================================================
<PAGE>
- -------------------------- --------------------------
CUSIP No. 891041 10 5 SCHEDULE 13D/A-4 Page 4 of 9 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Firethorn I Limited Partnership 04-3064184
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
170,000
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 170,000
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
170,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.41%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
================================================================================
<PAGE>
- -------------------------- --------------------------
CUSIP No. 891041 10 5 SCHEDULE 13D/A-4 Page 5 of 9 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Dane, Falb, Stone & Co., Inc. 04-2622331
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
559,100
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 800
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 559,100
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
800
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
559,900
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.24%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IA
================================================================================
<PAGE>
CUSIP No. 891041 10 5
The Schedule 13D previously filed by the undersigned (the "Reporting
Persons") with respect to the Common Stock, $.15625 par value, of Toreador
Royalty Corporation (the "issuer") is hereby amended as follows:
Item 3 is amended and restated to read in its entirely as follows:
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER
CONSIDERATION:
As to 170,000 shares, portfolio funds of Firethorn I
Limited Partnership.
As to 111,000 shares, personal funds of Peter L. Falb
As to 559,900 shares, portfolio funds of investment
advisees of Dane, Falb, Stone & Co., Inc.
Item 4 is hereby supplemented as follows:
ITEM 4 PURPOSE OF TRANSACTION:
(a) Item 4 is hereby supplemented, as follows:
All the shares were purchased and are being held for
investment purposes. Increases in the percentages
reported herein from those previously reported were
caused in some part by a decrease in the number of
shares outstanding. Ownership of the shares is as
follows:
(i) Investment advisory clients of Dane, Falb,
Stone & Co., Inc. ("DFS"), an investment adviser
registered under the Investment Advisers Act of
1940, hold 559,900 shares. Of those shares, DFS
has sole voting and dispositive power with
respect to 559,100 shares and shared voting and
dispositive power with respect to 800 shares.
Peter L. Falb and Edward Nathan Dane are the
principals and sole stockholders of DFS and to
the extent that DFS has the power to vote and
dispose of the shares held by its investment
advisory clients, they share such power. The
acquisition of such 559,900 shares was made in
the ordinary course of business and not with the
purpose nor with the effect of changing or
influencing the control of the issuer nor in
connection with or as a participant in any
transaction having such purpose or effect. The
beneficial
Page 6 of 9 Pages
<PAGE>
CUSIP No. 891041 10 5
ownership by DFS of such shares has properly
been reported on Schedule 13G.
(ii) Mr. Falb owns 111,000 shares directly or
indirectly through family members.
(iii) Mr. Dane does not own any shares directly
or indirectly through family members or
otherwise.
(iv) Firethorn I Limited Partnership ("Firethorn
I") is a private investment partnership which
directly owns 170,000 shares.
(b) Mr. Falb, on March 25, 1998, sent a letter to Mr. John Mark
McLaughlin, Chairman, Toreador Royalty Corporation, the text of
which was as follows:
"I have received your unsatisfactory letter of
February 10, 1998. It is a clear illustration of the
inability of Toreador's management and board to meet
its obligation to the shareholders. Since Mr. Vig
joined the company in 1988, shareholder's have
received essentially no return on their investment.
Frankly, it is time for a change.
I could provide lengthy critiques of the innumerable
ways in which actions taken have not served the
shareholder's interests, but I doubt if it would have
any effect on the intransigence of the board. While I
prefer not to seek confrontation, I will take any and
all necessary steps if a satisfactory resolution is
not achieved.
I propose that additional or replacement members,
named by us, be added to the board. This would allow
a reasonable transition to a strategy more in keeping
with the shareholder's interests and allow for
representation appropriate to share ownership.
I would be happy to discuss this with you either by
telephone or, if necessary, in person."
Page 7 of 9 Pages
<PAGE>
CUSIP No. 891041 10 5
Item 5 is amended and restated to read in its entirety as
follows:
<TABLE>
<CAPTION>
ITEM 5(A) SHARES
BENEFICIALLY PERCENTAGE
OWNED OF CLASS
------------ ----------
<S> <C> <C>
Peter L. Falb 840,900 16.89%
Edward Nathan Dane 729,900 14.66%
Dane, Falb, Stone & Co. Inc. 559,900 11.24%
Firethorn I Limited Partnership 170,000 3.41%
</TABLE>
ITEM 5(B)
<TABLE>
<CAPTION>
SOLE SHARED SOLE SHARES
VOTING VOTING DISPOSITIVE DISPOSITIVE
POWER POWER POWER POWER
------ ------ ----------- -----------
<S> <C> <C> <C> <C>
Peter L. Falb 111,000 729,900 111,000 729,900
Edward Nathan Dane -- 729,900 -- 729,900
Dane, Falb, Stone & Co., Inc. 559,100 800 559,100 800
Firethorn I Limited Partnership 170,000 -- 170,000 --
170,000 -- 170,000 --
</TABLE>
Page 8 of 9 Pages
<PAGE>
CUSIP No. 891041 10 5
SIGNATURES
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.
<TABLE>
<CAPTION>
<S> <C>
April 8, 1998 /s/ Peter L. Falb
----------------------------------------
April 8, 1998 /s/ Edward Nathan Dane
----------------------------------------
DANE, FALB, STONE & CO., INC.
April 8, 1998 By: /s/ Peter L. Falb, Treasurer
------------------------------------
April 8, 1998 By: /s/ Edward Nathan Dane, President
------------------------------------
FIRETHORN I LIMITED PARTNERSHIP
By: FIRETHORN II LIMITED PARTNERSHIP,
its general partner
By: EAGLEROCK CORPORATION, its
general partner
April 8, 1998 By: /s/ Peter L. Falb, Treasurer
------------------------------------
April 8, 1998 By: /s/ Edward Nathan Dane, President
------------------------------------
</TABLE>
Page 9 of 9 Pages
