-----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, DnTaeL1LF1+njY01MOVH6CerAf3TzkpqKAzsb0wMk6skyFSxj4BmJdXc7U+qwqJj aO0JYoZDAYITFzSvsje7ag== 0001041885-04-000033.txt : 20040212 0001041885-04-000033.hdr.sgml : 20040212 20040212153952 ACCESSION NUMBER: 0001041885-04-000033 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040212 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BNS CO CENTRAL INDEX KEY: 0000014637 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 050113140 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-13165 FILM NUMBER: 04591399 BUSINESS ADDRESS: STREET 1: 25 ENTERPRISE CENTER STREET 2: SUITE 103 CITY: MIDDLETOWN STATE: RI ZIP: 02842 BUSINESS PHONE: 401-848-6310 MAIL ADDRESS: STREET 1: 25 ENTERPRISE CENTER STREET 2: SUITE 103 CITY: MIDDLETOWN STATE: RI ZIP: 02842 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: INGALLS & SNYDER LLC CENTRAL INDEX KEY: 0001041885 IRS NUMBER: 135156620 STATE OF INCORPORATION: NY FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 61 BROADWAY STREET 2: C/O INGALLS & SNYDER CITY: NEW YORK STATE: NY ZIP: 100006 BUSINESS PHONE: 2122697812 MAIL ADDRESS: STREET 1: 61 BROADWAY CITY: NEW YORK STATE: NY ZIP: 100006 SC 13D 1 bns13da2.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D (RULE 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (AMENDMENT NO. 2) BNS Co. - ----------------------------------------------------------------------------- (NAME OF ISSUER) Class A Common Stock - ----------------------------------------------------------------------------- (TITLE OF CLASS OF SECURITIES) 055961304 - ----------------------------------------------------------------------------- (CUSIP NUMBER) Edward H. Oberst Ingalls & Snyder, LLC 61 Broadway New York, New York 10006 (212) 269-7800 - ----------------------------------------------------------------------------- (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS) February 9, 2004 - ----------------------------------------------------------------------------- (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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. [ ] Note: Schedules filed in paper format shall include a signed original and five copies of the Schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. - ----------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Ingalls & Snyder, LLC - ----------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A GROUP* (a) [ ] (b) [ ] - ----------------------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------------------- 4. SOURCES OF FUNDS AF, OO - ----------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ----------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION New York State - ----------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER 20,000 SHARES -------------------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER 0 OWNED BY -------------------------------------------------------------- EACH 9. SOLE DISPOSITIVE POWER 20,000 REPORTING -------------------------------------------------------------- PERSON WITH 10. SHARED DISPOSITIVE POWER 262,260 - ----------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 282,260 - ----------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES * [ ] - ----------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 9.4% - ----------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* BD, IA - ----------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) William Reed Simmons - ----------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A GROUP* (a) [ ] (b) [ ] - ----------------------------------------------------------------------------- 3. SEC USE ONLY - ----------------------------------------------------------------------------- 4. SOURCES OF FUNDS PF - ----------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ----------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. - ----------------------------------------------------------------------------- NUMBER OF 7. SOLE VOTING POWER 41,000 SHARES -------------------------------------------------------------- BENEFICIALLY 8. SHARED VOTING POWER 0 OWNED BY -------------------------------------------------------------- EACH 9. SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------------- PERSON WITH 10. SHARED DISPOSITIVE POWER 221,260 - ----------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 262,260 - ----------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ----------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 8.7% - ----------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN - ----------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! AMENDMENT NO. 2 TO SCHEDULE 13D This Amendment No. 2, dated February 9, 2004, to Schedule 13D is filed by the Reporting Persons and amends Schedule 13D/A No. 1 as previously filed by the Reporting Persons with the Securities and Exchange Commission on November 24, 2003 (the "Schedule 13D"), relating to the Class A common stock (the "Shares") of BNS Co. - ------------------------------------------------ Items 3, 5 and 6 of the Schedule 13D are hereby amended and restated in their entirety, as follows: ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION The Shares "beneficially owned" by Ingalls & Snyder, LLC ("I&S") were acquired for accounts of customers of I&S over which it has discretionary authority and for accounts of William Reed Simmons and members of Mr. Simmons's immediate family. The amount of funds used to purchase such Shares totaled $917,341 (including brokerage commissions), consisting of $800,201 from such customer accounts and $117,140 from accounts of Mr. Simmons and his immediate family. Some of the funds used for such purchases were borrowed from I&S pursuant to normal margin account terms. ITEM 5 INTEREST IN SECURITIES OF THE ISSUER I&S "beneficially owns" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) 282,260 Shares, or 9.4% of the 3,000,341 Shares outstanding as of September 30, 2003 (as reported in the Issuer's Quarterly Report on form 10-Q for the period ended September 30, 2003). The Shares "beneficially owned" by I&S include 41,000 Shares (1.4% of such outstanding Shares) held in accounts of William Reed Simmons and certain members of his immediate family, and 241,260 Shares (8% of such outstanding Shares) held in accounts of customers of I&S over which I&S has discretionary authority. Mr. Simmons may be deemed to be the "beneficial owner" of 221,260 Shares held in accounts of customers of I&S by virtue of his discretionary authority over such accounts, or a total "beneficial ownership" for Mr. Simmons of 262,260 Shares (8.7% of such outstanding Shares). I&S has sole power to vote or to direct the vote and sole power to dispose or to direct the disposition of 20,000 Shares and shared power to dispose or to direct the disposition of 262,260 Shares. Mr. Simmons has the sole power to vote or to direct the vote and sole power to dispose or to direct the disposition of 41,000 shares and shared power to dispose of or to direct the disposition of 221,260 Shares. In the past 60 days, I&S has effected the disposition of Shares in transactions as set forth below: Date No. of Shares Price per share (including commissions) 11/24/03 100,000 $5.52 02/09/04 175,000 $6.38 Of the Shares sold on 11/24/03, 400 were sold for accounts of members of the immediate family of Mr. Simmons. Each of the customers of I&S in whose account Shares are held has the right to receive and the power to direct the receipt of dividends from, and the proceeds from the sale of, the Shares held in such customer's account. ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER I&S and Mr. Simmons have been granted discretionary authority to dispose of Shares held in the accounts of customers of I&S that I&S and Mr. Simmons "beneficially own" under customary brokerage or investment advisory arrangements. I&S has the power to vote or to direct the vote of 20,000 Shares held in the account of a customer that is a limited partnership by virtue of its controlling interest in the general partner of such limited partnership. 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. Dated: February 11, 2004 Ingalls & Snyder, LLC By: /s/ Edward H. Oberst -------------------------------- Name: Edward H. Oberst Title: Managing Director 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. Dated: February 11, 2004 /s/ William Reed Simmons -------------------------------- William Reed Simmons -----END PRIVACY-ENHANCED MESSAGE-----