-----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, AL3dRW96D2LHFHRhVZZRsBgoburUSUhR+izKiKURZloLA/EMynAP2Ck9bVGHSU97 vdR5Qjacvn7lAboovAmTdA== 0000950124-97-002438.txt : 19970428 0000950124-97-002438.hdr.sgml : 19970428 ACCESSION NUMBER: 0000950124-97-002438 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970425 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PAYLESS CASHWAYS INC CENTRAL INDEX KEY: 0000076744 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-LUMBER & OTHER BUILDING MATERIALS DEALERS [5211] IRS NUMBER: 420945849 STATE OF INCORPORATION: IA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-02839 FILM NUMBER: 97587263 BUSINESS ADDRESS: STREET 1: TWO PERSHING SQ 2300 MAIN ST CITY: KANSAS CITY STATE: MO ZIP: 64108 BUSINESS PHONE: 8162346000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SUMMIT CAPITAL APPRECIATION FUND LP CENTRAL INDEX KEY: 0000949987 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 411822728 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 900 SECOND AVE SO STE 500 STREET 2: C/O SCA MANAGEMENT PARTNERS CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 6123373262 MAIL ADDRESS: STREET 1: 900 2ND AVENUE SOUTH CITY: MINNEAPOLIS STATE: MN ZIP: 55402 SC 13D 1 FORM SC 13D 1 OMB APPROVAL OMB Number: 3235-0145 Expires: December 31, 1997 Estimated average burden hours per response....14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* Payless Cashways, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) voting common stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 704378306000 ---------------------------- (CUSIP Number) Maun & Simon, PLC, 2000 Midwest Plaza Building West, 801 Nicollet Mall, Minneapolis, Minnesota 55402, Attention: Albert A. Woodward (512) 904-7400 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 25, 1997 -------------------------------- (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 / /. (A fee is not required only if the reporting person: (i) 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.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. * 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 requried 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). 2 SCHEDULE 13D CUSIP NO. 704378306000 PAGE 2 OF 4 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Okabena Partnership K - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Minnesota - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 700,000 OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH -- --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 700,000 --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,553,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 2 OF 7 3 SCHEDULE 13D CUSIP NO. 704378306000 PAGE 3 OF 4 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Sumitt Capital Appreciation Fund LP - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Minnesota - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 400,000 OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH 453,600 --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 400,000 --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,553,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 2 OF 7 4 CUSIP No. 704378306000 PAGE 4 OF 4 PAGES ITEM 2. IDENTITY AND BACKGROUND This statement is filed jointly by the entities identified below (collectively the "Holders"). 1. Okabena Partnership K c/o Okabena Companies, 5150 Norwest Center, Minneapolis, MN 55402 Okabena Partnership is a general partnership organized in Minnesota. The managing general partner of Okabena is Okabena Investment Services, Inc. and the information with respect to Okabena Investment Services, Inc. is as follows: Okabena Investment Services, Inc., 5150 Norwest Center, Minneapolis, MN 55402 Okabena Investment Services, Inc. is a Minnesota corporation. The officers are Bruce Lueck (President) and Gary Kohler (Vice President). 2. Summit Capital Appreciation Fund LP 900 2nd Avenue South, Minneapolis, MN 55402 Summit Capital Appreciation Fund LP is a general partnership organized in Minnesota. The Holders have been advised by NU Twins, LLC that it has withdrawn from the group. Earlier, the group was advised that Ovda Fund, Ltd. had, independently and without prior consultation with the group, sold its interest in Payless. As a result of these developments, the group now holds in the aggregate less than five percent (5%) of the outstanding common stock of Payless. Signature After reasonable inquiry and the best of my knowledge and belief, I certify that the information set forth in this statement is true, correct and complete. Dated: April 24th, 1997 ------------ OKABENA PARTNERSHIP K By: Okabena Investment Services, Inc., general partner By: Gary Kohler ------------------------------ Gary Kohler, Vice President SUMMIT CAPITAL APPRECIATION FUND LP By: Marc Kozberg ------------------------------ Marc Kozberg, general partner -----END PRIVACY-ENHANCED MESSAGE-----