SECURITIES AND EXCHANGE COMMISSION
                                 
                      Washington, D.C. 20549
                                 
                           SCHEDULE 13G
                                 
      Information Statement Pursuant to Rule 13d-1 and 13d-2
                                 
                         (Amendment No. 5)
                                 
                                 
                                 
                          SCE CORPORATION
                         (Name of Issuer)
                                 
                                 
                                 
                           COMMON STOCK
                  (Title of Class of Securities)
                                 
                                 
                                 
                             783882103
                          (CUSIP number)
                                 


     Check the following box if a fee is being paid with this
statement [ ].  (A fee is not required only if the filing 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).

     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 At 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).


CUSIP NO. 783882103          SCHEDULE 13G             PAGE 2 OF 6
_________________________________________________________________

(1)  Names of Reporting Persons:  First Interstate Bancorp

     S.S. or I.R.S. Identification Nos. of Above Persons:
     95-1418530

(2)  Check the Appropriate Box if a Member of a Group (See
     Instructions)

     (a)

     (b)

(3)  SEC Use Only

(4)  Citizenship or Place of Organization:  Delaware

     Number of Shares
     Beneficially
     Owned by Each
     Reporting Persons
     With

(5)  Sole Voting Power:

(6)  Shared Voting Power:     48,501,813

(7)  Sole Dispositive Power:

(8)  Shared Dispositive Power:

(9)  Aggregate Amount Beneficially Owned by Each Reporting Person:
48,501,813

(10) Check here if the Aggregate Amount in Row (9) Excludes Certain
     Shares (See Instructions)

(11) Percent of Class Represented by Amount in Row 9:  11.37%








CUSIP NO. 783882103          SCHEDULE 13G             PAGE 3 OF 6
_________________________________________________________________

(12) Type of Reporting Person (See Instructions):  HC

Item 1(a).     Name of Issuer:  SCE Corporation

Item 1(b).     Address of Issuer's Principal Executive Offices:
               55 Water Street - 1st Floor
               New York, NY 10004


Item 2(a).     Name of Person Filing:  First Interstate Bancorp

Item 2(b).     Address of Principal Business Office or, if none,
               residence:
               633 West 5th Street
               Los Angeles, California 90071

Item 2(c).     Citizenship:  Delaware

Item 2(d).     Title of Class of Securities:  Common Stock

Item 2(e).     CUSIP Number: 783882103

Item 3.        If this statement is filed pursuant to Rules 13d-
               1(b), or 13d-2(b), check whether the person filing
               is a:

          (a)  [ ] Broker or Dealer registered under Section 15 of
               the Act;
          
          (b)  [ ] Bank as defined in Section 3(a)(6) of the Act;

          (c)  [ ] Insurance Company as defined in Section 3(a)(19)
               of the Act;

          (d)  [ ] Investment Company registered under Section 8 of
               the Investment Company Act;

          (e)  Investment Adviser registered under Section 203 of
               the Investment Advisers Act of 1940;

          (f)  [ ] Employee Benefit Plan, Pension Fund which is
               subject to the provisions of the Employee Retirement
               Income Security Act of 1974 or Endowment Fund; see
               13d-1(b)(1)(ii)(F);

CUSIP NO. 783882103          SCHEDULE 13G             PAGE 4 OF 6
_________________________________________________________________

          (g)  [X]  Parent Holding Company, in accordance with
               Rule 13d-1(b)(ii)(G); See Item 7;
               
          (h)  [ ] Group, in accordance with Rule
               13-d1(b)(1)(ii)(H).

Item 4.   Ownership.

               If the percent of the class owned, as of December 31
          of the year covered by the statement, or as of the last
          day of any month described in Rule 13d-1(b)(2), if
          applicable, exceeds five percent, provide the following
          information as of that date and identify those shares
          which there is a right to acquire.

          (a)  Account Beneficially Owned:
          (b)  Percent of Class:
          (c)  Number of shares as to which such person has:
               (i)  sole power to vote or to direct the vote:
              (ii)  shared power to vote or to direct the vote:
          48,501,813
             (iii)  sole power to dispose or to direct the
                    disposition of:
              (iv) shared power to dispose or to direct the
                   disposition of:
          
               Instruction.  For computations regarding securities
          which represent a right to acquire an underlying
          security, see Rule 13d-3(d)(1).

Item 5.   Ownership of Five Percent or Less of a Class.

               If this statement is being filed to report the fact
          that as of the date hereof the reporting person has
          ceased to be the beneficial owner of more than five
          percent of the class of securities, check the following
          [X].
          
               Instruction:  Dissolution of a group requires a
          response to this item.

Item 6.   Ownership of More than Five Percent on Behalf of Another
          Person.



CUSIP NO. 783882103          SCHEDULE 13G             PAGE 5 OF 6
_________________________________________________________________

Item 7.   Identification and Classification of the Subsidiary Which
          Acquired the Security Being Reported on By the Parent
          Holding Company.

Item 8.   Identification and Classification of Members of the
          Group.

          Inapplicable.

Item 9.   Notice of Dissolution of a Group.

          Inapplicable.

Item 10.  Certification.

               By signing below I certify that to the best of my
          knowledge and belief, the securities referred to above
          were acquired in the ordinary course of business and were
          not acquired for the purpose of and do not have the
          effect of changing or influencing the control of the
          issuer of such securities and were not acquired in
          connection with or as a participant in any transaction
          having such purpose or effect.
          
                             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.

Date:     February 14, 1996

Signature:     By:  Wanda White

Name/Title:    Wanda White
               Assistant Vice President
               First Interstate Bancorp


     The original statement shall be signed by each person on whose
behalf the statement is filed or his authorized representative.  If
the statement is signed on behalf of a person by his/her authorized
representative other than an executive officer or general partner


CUSIP NO. 783882103          SCHEDULE 13G             PAGE 6 OF 6
_________________________________________________________________

     of the filing person, evidence of the representative's
     authority to sign on behalf of such person shall be filed with
     the statement, provided, however, that a power of attorney for
     this purpose which is already on file with the Commission may
     be incorporated by reference.  The name and any title of each
     person who signs the statement shall be typed or printed
     beneath his/her signature.
     
     Note:  Six copies of this statement, including all exhibits,
            should be filed with the Commission.

     Attention:  Intentional misstatements or omissions of fact
     constitute Federal criminal violations (See 18 U.S.C. 1001)