SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
SABINE ROYALTY TRUST
----------------------
(Name of Issuer)
Units of Beneficial Interest
------------------------------
(Title of Class of Securities)
785688 10 2
---------------
(CUSIP Number)
Michael S. Paquette
Vice President and Chief Accounting Officer
Fund American Enterprises Holdings, Inc.
The 1820 House
Main Street,
Norwich, Vermont 05055-0850
(802)649-3633
---------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
April 7, 1994
---------------------------
(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. 785688 10 2
- ------------------------------------------------------------------------------
(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises Holdings, Inc.
94-2708455
- ------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a)
------------------
of a Group (See Instructions)
(b)
- ------------------------------- ------------------------------
(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 of Organization
Delaware
--------
- -----------------------------------------------------------------------
Number of Units (7) Sole Voting Power
Beneficially Owned
by Each Reporting --------------------
Person With (8) Shared Voting Power
1,674,700
---------------------
(9) Sole Dispositive Power
---------------------
(10) Shared Dispositive Power
1,674,700
---------------------
- -----------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,674,700
-----------
- -----------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Units
(See Instructions)
- -----------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Approximately 11.5%
- -----------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) HC, CO
Page 2 of 10
CUSIP NO. 785688 10 2
- ------------------------------------------------------------------------------
(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises, Inc.
51-0328932
- ------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a)
------------------
of a Group (See Instructions)
(b)
- ------------------------------- ------------------------------
(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 of Organization
Delaware
--------
- -----------------------------------------------------------------------
Number of Units (7) Sole Voting Power
Beneficially Owned
by Each Reporting --------------------
Person With (8) Shared Voting Power
1,450,000
---------------------
(9) Sole Dispositive Power
---------------------
(10) Shared Dispositive Power
1,450,000
---------------------
- -----------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1,450,000
-----------
- -----------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Units
(See Instructions)
- -----------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Approximately 10.0%
- -----------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
Page 3 of 10
CUSIP NO. 785688 10 2
- ------------------------------------------------------------------------------
(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Source One Mortgage Services Corporation
38-2011419
- ------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a)
------------------
of a Group (See Instructions)
(b)
- ------------------------------- ------------------------------
(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 of Organization
Delaware
--------
- -----------------------------------------------------------------------
Number of Units (7) Sole Voting Power
Beneficially Owned
by Each Reporting --------------------
Person With (8) Shared Voting Power
224,700
---------------------
(9) Sole Dispositive Power
---------------------
(10) Shared Dispositive Power
224,700
---------------------
- -----------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
224,700
-----------
- -----------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Units
(See Instructions)
- -----------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Approximately 1.5%
- -----------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
Page 4 of 10
ONLY ITEMS REPORTED IN THIS AMENDMENT NO. 5 TO SCHEDULE 13D ARE AMENDED FROM
THE FILING ON SCHEDULE 13D (THE "SCHEDULE 13D") DATED JANUARY 2, 1991, AS
AMENDED BY AMENDMENT NO.1 DATED OCTOBER 7, 1992, AMENDMENT NO. 2 DATED MARCH
12, 1993, AMENDMENT NO. 3 DATED JUNE 24, 1993, AND AMENDMENT NO. 4 DATED
OCTOBER 5, 1993. 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.
------------------------
Item 3. Source and Amount of Funds or Other Consideration.
--------------------------------------------------
Item 4. Purpose of Transaction
----------------------
Item 4 is supplemented by adding the following paragraph:
Sales made by FAEH, FAE and SOMSC to third parties, outlined in
Schedule II attached hereto, which is 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 the Issuer or in connection with, or as
a participant in, any transaction having such purpose or effect.
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) FAEH owns all 1,674,700 Units indirectly through FAE and SOMSC. The
aggregate number of Units and the corresponding percentage of the outstanding
Units such number represents is as follows:
Percentage of
Units Units
Beneficially Beneficially
Person Owned Owned
------ ------------ -------------
FAEH 1,674,700 11.5%
FAE 1,450,000 10.0%
SOMSC 224,700 1.5%
Page 5 of 10
(b) FAEH shares voting power and dispositive power with respect to its
1,674,700 Units with FAE and SOMSC.
(c) Except as described in Schedule II attached hereto, neither FAEH,
FAE, nor SOMSC, nor, to the best knowledge of FAEH, FAE, SOMSC, nor any of the
persons listed on Schedule I, has been party to any transaction in the Units
during the sixty day period ending on the date of this statement on Schedule
13D.
(d) None
(e) Not Applicable
Page 6 of 10
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: April 7, 1994
FUND AMERICAN ENTERPRISES HOLDINGS, INC.
BY:
/S/
----------------------------------
Name: Michael S. Paquette
Title: Vice President and
Chief Accounting Officer
FUND AMERICAN ENTERPRISES, INC.
BY:
/S/
----------------------------------
Name: Terry L. Baxter
Title: President
SOURCE ONE MORTGAGE SERVICES
CORPORATION
BY:
/S/
----------------------------------
Name: Michael S. Paquette
Title: Authorized Representative*
*Power of Attorney on file
Page 7 of 10
SCHEDULE I TO SCHEDULE 13D
--------------------------
Following is a list of the directors and executive officers of Fund American
Enterprises Holdings, Inc. ("FAEH"), Fund American Enterprises, Inc. ("FAE")
and Source One Mortgage Services Corporation ("SOMSC"), 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
- ---------------- ------ --------------------
FAEH
John J. Byrne Chairman of the Board, Chairman of the Board,
Fund American President & Chief President & Chief
Enterprises Holdings, Inc. Executive Officer of Executive Officer of
The 1820 House, FAEH; Chairman of the FAEH
Main Street, Board of FAE,
Norwich, VT 05055 Director of SOMSC
Howard L. Clark Director Retired
200 Park Avenue of FAEH
Suite 4501
New York, N.Y. 10166
Howard L. Clark, Jr. Director Vice Chairman of Lehman Brothers
Lehman Brothers of FAEH
American Express Tower
New York, New York 10285
George J. Gillespie, III Director Partner in Cravath,
Cravath, Swaine & Moore of FAEH Swaine & Moore
825 Eighth Avenue 825 Eighth Avenue
New York, N.Y. 10019 New York, N.Y. 10019
K. Thomas Kemp Executive Vice President Executive Vice President, Treasurer &
The 1820 House, Treasurer & Corporate Corporate Secretary of FAEH
Main Street, Secretary of FAEH, Director of
Norwich, VT 05055 FAE and SOMSC
Gordon S. Macklin Director Chairman of White River Corporation
8212 Burning Tree Road of FAEH
Bethesda, MD 20817
Michael S. Paquette Vice President & Vice President &
The 1820 House, Main Street Chief Accounting Officer of Chief Accounting Officer of
Norwich, Vermont 05055 FAEH, Director of FAE FAEH
Allan L. Waters Senior Vice President & Senior Vice President &
The 1820 House Chief Financial Officer of Chief Financial Officer of
Main Street FAEH, Director of FAE and FAEH
Norwich, Vermont 05055 SOMSC
Arthur Zankel Director Co-Managing Partner,
First Manhattan Co. of FAEH First Manhattan Co.,
437 Madison Ave. 437 Madison Ave.
New York, N.Y. 10022 New York, N.Y. 10022
Page 8 of 10
SCHEDULE I (cont.) TO SCHEDULE 13D
----------------------------------
Present
Name and Principal Occupation
Business Address Office or Employment
- ---------------- ------ --------------------
FAE
Terry L. Baxter President & President
The 1820 House Director of FAE
FAEH, Director of FAE
Norwich, Vermont 05055
SOMSC
Michael C. Allemang Executive Vice President & Executive Vice President &
27555 Farmington Road Chief Financial Officer and Chief Financial Officer
Farmington Hills, Director of SOMSC of SOMSC
Lawrence J. Brady Senior Vice President - Senior Vice President -
27555 Farmington Road Residential Division Residential Division
Farmington Hills, of SOMSC of SOMSC
Michigan, 48334
James A. Conrad Director, President, President & Chief
27555 Farmington Road Chief Executive Officer Executive Officer of
Farmington Hills, and Director of SOMSC SOMSC
Michigan, 48334
John A. Courson Senior Vice President Senior Vice President
27555 Farmington Road Of SOMSC of SOMSC
Farmington Hills,
Michigan, 48334
Robert R. Densmore Executive Vice President, Executive Vice President and
27555 Farmington Road Secretary and Director of Secretary of SOMSC
Farmington Hills, SOMSC
Michigan, 48334
Paul J. Hanna Director of SOMSC Independent Financial Consultant
Harbour House 12
Ocean Reef Club
Key Largo,
Florida, 33037
William C. Manasco Senior Vice President - Senior Vice President -
27555 Farmington Road Operations Mgmt. Operations Mgmt.
Farmington Hills, of SOMSC of SOMSC
Michigan, 48334
Robert W. Richards Chairman and Chief Chairman and Chief
27555 Farmington Road Financial Officer of Financial Officer of
Farmington Hills, SOMSC SOMSC
Michigan, 48334
Page 9 of 10
Schedule II to Schedule 13D
---------------------------
Sales of Units of Beneficial Interest of Sabine Royalty 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
------- ---- ----------- ----------
FAE 03/02/94 13,000 $14.00
FAE 03/03/94 4,100 $14.00
FAE 03/04/94 2,900 $14.00
FAE 03/07/94 2,900 $14.1250
FAE 03/08/94 12,000 $14.0734
FAE 03/11/94 500 $14.1250
FAE 03/14/94 4,500 $14.0306
FAE 03/17/94 10,000 $14.0875
[intercompany to SOMSC]
SOMSC 03/31/94 27,600 $13.5657
SOMSC 04/04/94 4,500 $13.500
SOMSC 04/05/94 4,700 $13.500
SOMSC 04/06/94 12,300 $13.5356
SOMSC 04/07/94 15,200 $13.7473
Page 10 of 10
