SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13D
                                 (Rule 13d-101)

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                              (Amendment No. 1) (1)



                              Laclede Steel Company
                                (Name of Issuer)



                     Common Stock, Par Value $0.01 Per Share
                         (Title of Class of Securities)



                                   505606 10 3
                                 (CUSIP Number)



                              William R. Lucas, Jr.
                          Birmingham Steel Corporation
                       1000 Urban Center Drive, Suite 300
                            Birmingham, Alabama 35242
                         Telephone Number (205)970-1231
                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)



                               September 26, 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.( )



         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.

                         (continued on following pages)


- ----------
(1)      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 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).





Item 4.  Purpose of Transaction.

                  Paragraph one of Item 4 is hereby amended to read as follows:

                  Background.  Prior to September 19, 1997, Ivaco owned directly
                  2,018,650  shares of the  Company's  Common  Stock and 366,667
                  shares of the Company's Series A Preferred Stock, no par value
                  (the "Preferred Stock"). The Preferred Stock is not registered
                  under  Section 12 of the  Securities  Exchange Act of 1934 and
                  has no voting  rights,  but is  convertible at any time by the
                  holder  thereof  into 4.69 shares of the Common  Stock.  As of
                  September 19, 1997, Ivaco divided its holdings of Common Stock
                  and  Preferred  Stock by  contributing  an equal amount to two
                  newly   formed   Delaware   limited    liability    companies.
                  Specifically, Ivaco contributed 1,009,325 shares of the Common
                  Stock (the  "Holdings I Common  Shares") and 183,333 shares of
                  the Preferred  Stock (the  "Holdings I Preferred  Shares," and
                  together  with the Holdings I Common  Shares,  the "Holdings I
                  Shares")  to  LCL  Holdings  I in  exchange  for  100%  of the
                  membership  interests in LCL  Holdings I and (ii)  contributed
                  1,009,325  shares of the Common Stock (the "Holdings II Common
                  Shares")  and  183,334  shares  of the  Preferred  Stock  (the
                  "Holdings II Preferred Shares," and together with the Holdings
                  II Common Shares, the "Holdings II Shares") to LCL Holdings II
                  in  exchange  for  100%  of the  membership  interests  in LCL
                  Holdings II.

                  The remainder of Item 4 is not amended.




                                    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.


                                                 October 10, 1997

                                                 BIRMINGHAM STEEL CORPORATION


                                                 By:/s/William R. Lucas, Jr.
                                                      William R. Lucas, Jr.
                                                 Its: Executive Vice President -
                                                      Administration and General
                                                      Counsel

                                                 MIDWEST HOLDINGS, INC.


                                                 By:/s/William R. Lucas, Jr.
                                                      William R. Lucas, Jr.
                                                 Its: Executive Vice President -
                                                      Administration and General
                                                      Counsel

                                                 LCL HOLDINGS II, LLC


                                                 By:/s/William R. Lucas, Jr.
                                                      William R. Lucas, Jr.
                                                 Its: Manager