-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EP1tnstEYVziIl/KhWuLBMuDicJTBIJJl/huPH/B20UbTHSEwKOWHKwwP2ezyale 8UWNsiN/C5X+IiTftp8zGA== 0000912057-01-541994.txt : 20020412 0000912057-01-541994.hdr.sgml : 20020412 ACCESSION NUMBER: 0000912057-01-541994 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20011205 GROUP MEMBERS: EDWIN W. SCHLOSS GROUP MEMBERS: SCHLOSS MANAGEMENT COMPANY GROUP MEMBERS: WALTER J. SCHLOSS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NIAGARA CORP CENTRAL INDEX KEY: 0000710976 STANDARD INDUSTRIAL CLASSIFICATION: STEEL PIPE & TUBES [3317] IRS NUMBER: 593182820 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40787 FILM NUMBER: 1806412 BUSINESS ADDRESS: STREET 1: 667 MADISON AVE CITY: NEW YORK STATE: NY ZIP: 10021 BUSINESS PHONE: 2123171000 FORMER COMPANY: FORMER CONFORMED NAME: PALM BEACH GAS CORP DATE OF NAME CHANGE: 19890720 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WALTER & EDWIN SCHLOSS ASSOCIATES LP ET AL CENTRAL INDEX KEY: 0000924038 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 52 VANDERBILT AVE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2123701844 MAIL ADDRESS: STREET 1: 52 VANDERBILT AVE CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 a2065077zsc13da.txt SC 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Amendment No. 1) Under the Securities Exchange Act of 1934 NIAGARA CORPORATION --------------------------------------- (Name of Issuer) Common Stock, Par Value $0.001 --------------------------------------- (Title of Class of Securities) 653349100 --------------------------------------- (CUSIP Number) Walter J. Schloss Walter & Edwin Schloss Associates, L.P. 350 Park Avenue New York, New York 10022 (212) 371-2529 --------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 16, 2001 --------------------------------------- (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 [ ]. CUSIP NO. 653349100 ----------------------------------- - -------------------------------------------------------------------------------- 1) Name of Reporting Person Walter & Edwin Schloss S.S. or I.R.S. Identification No. Associates, L.P. of Above Person Employer I.D. No. 13-6065556 - -------------------------------------------------------------------------------- 2) Check the Appropriate Box (a) if a Member of a Group ------------------------------ (See Instructions) (b) X ------------------------------ - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - -------------------------------------------------------------------------------- 6) Citizenship or Place Delaware of Organization - -------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power -0- Beneficially Owned ----------------------------------------------------------- by Each Reporting (8) Shared Voting Power -0- Person ----------------------------------------------------------- With (9) Sole Dispositive Power -0- ----------------------------------------------------------- (10) Shared Dispositive Power -0- - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person -0- - -------------------------------------------------------------------------------- 12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) -0- - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) PN - -------------------------------------------------------------------------------- Page 2 of 8 CUSIP NO. 653349100 ----------------------------------- - -------------------------------------------------------------------------------- 1) Name of Reporting Person Schloss Management S.S. or I.R.S. Identification No. Company of Above Person Employer I.D. No. 13-3522115 - -------------------------------------------------------------------------------- 2) Check the Appropriate Box (a) if a Member of a Group ------------------------------ (See Instructions) (b) X ------------------------------ - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - -------------------------------------------------------------------------------- 6) Citizenship or Place New York of Organization - -------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power -0- Beneficially Owned ----------------------------------------------------------- by Each Reporting (8) Shared Voting Power -0- Person ----------------------------------------------------------- With (9) Sole Dispositive Power -0- ----------------------------------------------------------- (10) Shared Dispositive Power -0- - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person -0- - -------------------------------------------------------------------------------- 12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) -0- - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) PN - -------------------------------------------------------------------------------- Page 3 of 8 CUSIP NO. 653349100 ------------------------------- - -------------------------------------------------------------------------------- 1) Name of Reporting Person Walter J. Schloss S.S. or I.R.S. Identification No. Soc. Sec. No. ###-##-#### of Above Person - -------------------------------------------------------------------------------- 2) Check the Appropriate Box (a) if a Member of a Group ------------------------------ (See Instructions) (b) X ------------------------------ - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - -------------------------------------------------------------------------------- 6) Citizenship or Place United States of Organization - -------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power -0- Beneficially Owned ----------------------------------------------------------- by Each Reporting (8) Shared Voting Power -0- Person ----------------------------------------------------------- With (9) Sole Dispositive Power -0- ----------------------------------------------------------- (10) Shared Dispositive Power -0- - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person -0- - -------------------------------------------------------------------------------- 12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) -0- - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- Page 4 of 8 CUSIP NO. 653349100 ------------------------------- - -------------------------------------------------------------------------------- 1) Name of Reporting Person Edwin W. Schloss S.S. or I.R.S. Identification No. Soc. Sec. No. ###-##-#### of Above Person - -------------------------------------------------------------------------------- 2) Check the Appropriate Box (a) if a Member of a Group ------------------------------ (See Instructions) (b) X ------------------------------ - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - -------------------------------------------------------------------------------- 6) Citizenship or Place United States of Organization - -------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power -0- Beneficially Owned ----------------------------------------------------------- by Each Reporting (8) Shared Voting Power -0- Person ----------------------------------------------------------- With (9) Sole Dispositive Power -0- ----------------------------------------------------------- (10) Shared Dispositive Power -0- - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person -0- - -------------------------------------------------------------------------------- 12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) -0- - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- Page 5 of 8 INTRODUCTORY STATEMENT On October 24, 2000, there was filed with the Securities and Exchange Commission a Statement on Schedule 13D (the "Original Statement"), relating to shares of Common Stock, par value $.001 per share (the "Common Stock"), of Niagara Corporation ("Niagara"), beneficially owned by Walter & Edwin Schloss Associates, L.P. ("Associates"), Walter J. Schloss and Edwin W. Schloss. This Amendment No. 1 is being filed to report the sale by Associates, Schloss Management Company ("Management"), Walter J. Schloss and Edwin W. Schloss (collectively, the "Filing Persons") of all of the shares of Common Stock of Niagara beneficially owned by the Filing Persons. With the filing of this Amendment No. l, the obligations of the Filing Persons to file Statements on Schedule 13D with respect to such shares will terminate. The Original Statement is amended as follows: Item 5. INTEREST IN SECURITIES OF THE ISSUER. (a) As of the date hereof, none of Associates, Management, Walter Schloss or Edwin Schloss beneficially owns any shares of Common Stock. (b) Not Applicable. (c) Information with respect to all transactions in which Associates, Management, Walter J. Schloss or Edwin W. Schloss sold shares of Common Stock during the 60-day period ended on the date hereof are as follows: ASSOCIATES:
DATE SHARES SOLD PER SHARE PRICE ---- ----------- --------------- 11/16/2001 500,000 $2.50
WALTER J. SCHLOSS:
DATE SHARES SOLD PER SHARE PRICE ---- ----------- --------------- 11/16/2001 50,000 $2.50
EDWIN W. SCHLOSS:
DATE SHARES SOLD PER SHARE PRICE ---- ----------- --------------- 11/16/2001 15,000 $2.50 10/25/2001 11,200 $1.41 10/24/2001 2,800 $1.40 10/19/2001 1,000 $1.45
Page 6 of 8 All transactions on November 16, 2001 were effected privately pursuant to a letter agreement, dated November 16, 2001, among Associates, Walter Schloss, Edwin Schloss and Michael Sharf. The remaining transactions by Edwin Schloss were open-market transactions. (d) Not Applicable. (e) Not Applicable. Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. On November 16, 2001, Associates, Walter Schloss and Edwin Schloss sold 500,000, 50,000 and 15,000 shares of Common Stock, respectively, to Mr. Michael Sharf, at $2.50 per share for aggregate consideration of $1,412,500. The letter agreement with Mr. Scharf also provides that if at anytime before November 16, 2002, Mr. Scharf purchases any shares of Common Stock in excess of $2.50 per share (other than through the exercise of stock options), Mr. Scharf will pay Associates, Walter Schloss and Edwin Schloss as additional consideration the amount of such excess. Except as otherwise described herein, none of the Filing Persons has any contract, arrangement, understanding or relationship with respect to any securities of the Company. Page 7 of 8 SIGNATURE After reasonable inquiry and to the best of the undersigned's knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. December 4, 2001 /s/ WALTER J. SCHLOSS -------------------------------------------------- Walter J. Schloss /s/ EDWIN W. SCHLOSS -------------------------------------------------- Edwin W. Schloss WALTER & EDWIN SCHLOSS ASSOCIATES, L.P. By Schloss Management Company, General Partner By: /s/ WALTER J. SCHLOSS ------------------------------------------- Walter J. Schloss, General Partner By: /s/ EDWIN W. SCHLOSS ------------------------------------------- Edwin W. Schloss, General Partner SCHLOSS MANAGEMENT COMPANY By: /s/ WALTER J. SCHLOSS ------------------------------------------- Walter J. Schloss, General Partner By: /s/ EDWIN W. SCHLOSS ------------------------------------------- Edwin W. Schloss, General Partner Page 8 of 8 -----END PRIVACY-ENHANCED MESSAGE-----