SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
Texas Pacific Land Trust
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(Name of Issuer)
Sub-Share Certificates in Certificates of Proprietary Interest
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(Title of Class of Securities)
882610108
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(CUSIP Number)
Michael S. Paquette
Vice President and Controller
Fund American Enterprises Holdings, Inc.
80 South Main Street
Hanover, New Hampshire 03755
(603) 643-1567
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
February 9, 1996
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(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 this statement ______.
(A fee is not required only if the reporting person: (1) 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.
CUSIP NO. 882610108
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(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises Holdings, Inc.
94-2708455
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(2) Check the Appropriate Box if a Member (a) _______________________
of a Group (See Instructions)
(b) _______________________
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(3) (SEC Use Only)
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(4) Source of Funds (See Instructions) WC (See Item 3)
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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(6) Citizenship or Place of Organization Delaware
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Number of Sub-Shares (7) Sole Voting Power
Beneficially Owned ----------------------
by Each Reporting
Person With (8) Shared Voting Power
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214,300
(9) Sole Dispositive Power
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(10) Shared Dispositive Power
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214,300
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
214,300
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Sub-Shares (See
Instructions)
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(13) Percent of Class Represented by Amount in Row (11) Approximately 7.0%
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(14) Type of Reporting Person (See Instructions) HC, CO
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CUSIP NO. 882610108
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(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises, Inc.
51-0328932
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(2) Check the Appropriate Box if a Member (a) _______________________
of a Group (See Instructions)
(b) _______________________
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(3) (SEC Use Only)
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(4) Source of Funds (See Instructions) WC (See Item 3)
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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(6) Citizenship or Place of Organization Delaware
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Number of Sub-Shares (7) Sole Voting Power
Beneficially Owned ----------------------
by Each Reporting
Person With (8) Shared Voting Power
----------------------
154,300
(9) Sole Dispositive Power
----------------------
(10) Shared Dispositive Power
------------------------
154,300
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
154,300
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Sub-Shares (See
Instructions)
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(13) Percent of Class Represented by Amount in Row (11) Approximately 5.0%
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(14) Type of Reporting Person (See Instructions) CO
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CUSIP NO. 882610108
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(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
White Mountains Holdings, Inc.
02-0477315
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(2) Check the Appropriate Box if a Member (a) _______________________
of a Group (See Instructions)
(b) _______________________
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(3) (SEC Use Only)
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(4) Source of Funds (See Instructions) WC (See Item 3)
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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(6) Citizenship or Place of Organization Delaware
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Number of Sub-Shares (7) Sole Voting Power
Beneficially Owned ----------------------
by Each Reporting
Person With (8) Shared Voting Power
----------------------
60,000
(9) Sole Dispositive Power
----------------------
(10) Shared Dispositive Power
------------------------
60,000
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
60,000
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Sub-Shares (See
Instructions)
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(13) Percent of Class Represented by Amount in Row (11) Approximately 2.0%
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(14) Type of Reporting Person (See Instructions) HC, CO
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ONLY ITEMS REPORTED IN THIS AMENDMENT NO. 3 TO SCHEDULE 13D ARE AMENDED FROM THE
FILING ON SCHEDULE 13D FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY
3, 1995, AS AMENDED BY AMENDMENT NO. 1 ON SEPTEMBER 8, 1995 AND AMENDMENT NO. 2
ON OCTOBER 4, 1995. ALL OTHER ITEMS REMAIN UNCHANGED. UNLESS OTHERWISE
SPECIFIED, ALL DEFINED TERMS USED HEREIN HAVE THE MEANING PREVIOUSLY ASCRIBED TO
THEM IN THE SCHEDULE 13D.
Item 2. Identity and Background.
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(a), (b), (c) and (f). The principle business and office address of FAEH
is now 80 South Main Street, Hanover, New Hampshire 03755. The principle
business and office address of White Mountains Holdings, Inc. ("WMH") is also 80
South Main Street, Hanover, New Hampshire 03755. WMH, a wholly owned subsidiary
of FAEH, is an insurance holding company.
The name, business address, present principle occupation or employment (and
the name, principle business and address of any corporation or other
organization in which such employment is conducted) and citizenship of each
director and executive officer of FAEH, FAE and WMH is set forth on Schedule I,
attached hereto, and incorporated herein by reference.
(d) and (e). Neither FAEH, FAE or WMH, and to the best knowledge of FAEH,
FAE and WMH, any of the persons listed on Schedule I, attached hereto, during
the last five years has been convicted in a criminal proceeding (excluding
traffic violations and similar misdemeanors) or was a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction as a
result of which any such person was or is subject to a judgement, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, Federal or state securities laws or finding any violation
with respect to such laws.
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Item 3. Source and Amount of Funds or Other Consideration.
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On December 26, 1995, FAE transferred 60,000 Sub-Shares to FAEH at $25.00
per Sub-Share. FAEH subsequently transferred 60,000 Sub-Shares to WMH and
certain of WMH's direct and indirect wholly owned subsidiaries on December 26,
1995 at $25.00 per Sub-Share.
Item 4. Purpose of Transaction.
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(a) Sales by FAE outlined in Schedule II, attached hereto, and
incorporated herein by reference, were made in the ordinary course of business
and not for the purpose or effect of changing or influencing the control of TPL
or in connection with, or as a participant in, any transaction having such
purpose or effect.
FAEH, FAE, WMH and certain of WMH's direct and indirect wholly owned
subsidiaries are holding the Sub-Shares for investment purposes and have no
present plans or proposals which relate to, or would result in, any of the
actions described in Item 4(a) through 4(j), except as noted in Item 4(a) above.
Item 5. Interest in Securities of the Issuer.
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(a) FAEH owns 154,300 Sub-Shares indirectly through FAE and 60,000 Sub-
Shares indirectly through WMH and certain of WMH's direct and indirect wholly-
owned subsidiaries. The aggregate number of Sub-Shares and the corresponding
percentage of the outstanding Sub-Shares such number represents is as follows:
Percentage of
Sub-Shares Sub-Shares
Beneficially Beneficially
Person Owned Owned
------ ------------ ------------
FAEH 214,300 7.0%
FAE 154,300 5.0%
WMH * 60,000 2.0%
* WMH and certain of its direct and indirect wholly owned subsidiaries.
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(b) FAEH shares voting power and dispositive power with respect to 154,300
Sub-Shares with FAE and 60,000 Sub-Shares with WMH and certain of WMH's direct
and indirect wholly owned subsidiaries.
(c) Schedule II, attached hereto, describes all transactions by FAEH, FAE,
WMH and certain of WMH's direct and indirect wholly owned subsidiaries, and to
the best knowledge of FAEH, FAE and WMH, any of the persons listed on Schedule
I, in Sub-Shares effected during the past 60 days.
(d) None
(e) Not Applicable
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
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to Securities of the Issuer.
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There are no contracts, arrangements, understandings or relationships (legal
or otherwise) among the persons named in Item 2 or to the best knowledge of
FAEH, FAE or WMH, between any of the persons named in Item 2 and any other
persons with respect to Sub-Shares of TPL.
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SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: February 29, 1996
FUND AMERICAN ENTERPRISES HOLDINGS, INC.
BY: /s/
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Name: Michael S. Paquette
Title: Vice President and Controller
FUND AMERICAN ENTERPRISES, INC.
BY: /s/
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Name: Terry L. Baxter
Title: President and Secretary
WHITE MOUNTAINS HOLDINGS, INC.
BY: /s/
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Name: Michael S. Paquette
Title: Vice President and Controller
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SCHEDULE I TO SCHEDULE 13D
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Following is a list of the directors and executive officers of Fund
American Enterprises Holdings, Inc. ("FAEH"), Fund American Enterprises, Inc.
("FAE") and White Mountains Holdings, Inc. ("WMH") setting forth the business
address and present principal occupation or employment (and the name, principal
business and address of any corporation or organization in which such employment
is conducted) of each such person. Each such person is a citizen of the United
States of America.
Present
Name and Principal Occupation
Business Address Office or Employment
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FAEH
Dennis P. Beaulieu Corporate Secretary Corporate Secretary
Fund American Enterprises of FAEH, Director of WMH of FAEH
Holdings, Inc.
80 South Main Street
Hanover, NH 03755
John J. Byrne Chairman of the Board, Chairman of the
Fund American Enterprises President & Chief Board,
Holdings, Inc. Executive Officer of President & Chief
80 South Main Street FAEH, Chairman of the Executive Officer of
Hanover, NH 03755 Board of FAE and WMH FAEH
Howard L. Clark Director of FAEH Retired
200 Park Avenue, Suite 4501
New York, NY 10166
Howard L. Clark, Jr. Director of FAEH Vice Chairman of
Lehman Brothers Holdings Lehman Brothers
Inc. Holdings Inc.
American Express Tower
New York, NY 10128
Robert P. Cochran Director of FAEH President & Chief
Financial Security Executive Officer of
Assurance Holdings Ltd. Financial Security
350 Park Avenue Assurance
New York, NY 10022 Holdings Ltd.
George J. Gillespie, III Director of FAEH Partner in Cravath,
Cravath, Swaine & Moore Swaine & Moore
825 Eighth Avenue
New York, NY 10019
K. Thomas Kemp Executive Vice Executive Vice
Fund American Enterprises President President
Holdings, Inc. of FAEH, Director of of FAEH
80 South Main Street FAEH, FAE and WMH
Hanover, NH 03755
Gordon S. Macklin Director of FAEH Chairman of White
8212 Burning Tree Road River
Bethesda, MD 20817 Corporation
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SCHEDULE I TO SCHEDULE 13D (cont.)
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Present
Name and Principal Occupation
Business Address Office or Employment
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FAEH
Michael S. Paquette Vice President & Vice President &
Fund American Enterprises Controller of FAEH, Controller of FAEH
Holdings, Inc. Director of FAE and WMH
80 South Main Street
Hanover, NH 03755
Allan L. Waters Senior Vice President & Senior Vice President &
Fund American Enterprises Chief Financial Officer Chief Financial Officer
Holdings, Inc. of FAEH, Director of of FAEH
80 South Main Street FAE and WMH
Hanover, NH 03755
Arthur Zankel Director of FAEH Co-Managing Partner
First Manhattan Co. First Manhattan Co.
437 Madison Ave.
New York, NY 10022
FAE
Terry L. Baxter President & Secretary President & Secretary
Fund American Enterprises, of FAE, Director of of FAE
Inc. FAE and WMH
The 1820 House, Main Street
Norwich, VT 05055-0850
WMH
Dennis P. Beaulieu Vice President and Corporate Secretary
(see above) Secretary of WMH, of FAEH
Director of WMH
John J. Byrne Chairman of the Board Chairman of the Board,
(see above) of WMH President & Chief
Executive Officer of
FAEH
Terry L. Baxter Director of WMH President & Secretary of
(see above) FAE
Morgan Davis Senior Vice President & Senior Vice President &
White Mountains Chief Operating Officer Chief Operating Officer
Holdings, Inc. of WMH, Director of WMH of WMH
80 South Main Street
Hanover, NH 03755
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SCHEDULE I TO SCHEDULE 13D (cont.)
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Present
Name and Principal Occupation
Business Address Office or Employment
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Robert P. Cochran Director of WMH President & Chief
(see above) Executive Officer of
Financial Security
Assurance Holdings Ltd.
Robert P. Keller Director of WMH Self Employed
White Mountains
Holdings, Inc.
80 South Main Street
Hanover, NH 03755
K. Thomas Kemp Chief Executive Officer Executive Vice President
(see above) and President of WMH, of FAEH
Director of WMH
Phil Koerner Director of WMH Chief Executive
National Grange Mutual Officer of National
Insurance Company Grange Mutual
55 West Street, POB 2300 Insurance Company
Keene, NH 03431
Michael S. Paquette Vice President & Vice President &
(see above) Controller of WMH, Controller of FAEH
Director of WMH
Allan L. Waters Senior Vice President & Senior Vice President &
(see above) Chief Financial Officer Chief Financial Officer
of WMH, Director of of FAEH
WMH
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SCHEDULE II TO SCHEDULE 13D
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Sales of Sub-Share Certificates in Certificates of Proprietary Interest of
Texas Pacific Land Trust by the Reporting Persons and by persons listed in
Schedule I, attached hereto, within the last 60 days.
Sold by Date Number Sold Unit Price
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FAE 12/11/95 1,200 23.00
FAE 02/08/96 11,000 31.4159
FAE 02/09/96 11,400 30.4057
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