UNITED STATES
                                SECURITIES AND EXCHANGE COMMISSION
                                      Washington, D.C. 20549

                                           SCHEDULE 13D

                             Under the Securities Exchange Act of 1934
                                       (Amendment No.  1 )*

                               First of Michigan Capital Corporation
- -------------------------------------------------------------------------------
                                         (Name of Issuer)

                                   Common Stock, $.10 par value
- -------------------------------------------------------------------------------
                                  (Title of Class of Securities)

                                           320862 - 105
- -------------------------------------------------------------------------------
                                          (CUSIP Number)

                                      William H. Cuddy, Esq.
                                        Day, Berry & Howard
             185 Asylum Street, CityPlace I, Hartford, Connecticut 06103-3499
                                          (860) 275-0217
- -------------------------------------------------------------------------------
                           (Name, Address and Telephone Number of Person
                         Authorized to Receive Notices and Communications)

                                         September 5, 1996
             ------------------------------------------------------------------
                      (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 the 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.

*The remainder of this cover page shall be filled out or 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
disclosures provided in a prior cover page.

The information required on 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 ("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).

Continued on the following pages.

                                           SCHEDULE 13D
CUSIP NO.___ 3208262 - 105 __                                       Page 2 of 2
Pages

1       NAME OF REPORTING PERSON
        S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

        1888 Limited Partnership

2       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)/  / (b)/  /

3       SEC USE ONLY

4       SOURCE OF FUNDS*

        Not Applicable

5       CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
                                                   TO ITEMS 2(d) OR 2(e) /  /

6.      CITIZENSHIP OR PLACE OF ORGANIZATION

        Connecticut

               7       SOLE VOTING POWER
                       747,929 shares
NUMBER OF
   SHARES      8       SHARED VOTING POWER
BENEFICIALLY           -0- shares
 OWNED BY
      EACH     9       SOLE DISPOSITIVE POWER
REPORTING              747,929 shares
 PERSON
     WITH      10      SHARED DISPOSITIVE POWER
                       -0- shares

11      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        747,929 shares

12      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*


13      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

        28.4%

14      TYPE OF REPORTING PERSON*

        PN

                               *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              AMENDMENT TO STATEMENT ON SCHEDULE 13D

The reporting person hereby amends in part its Statement on Schedule 13D
relating to the common stock, par value $.10 per share (the "Common Stock"), of
First of Michigan Capital Corporation, a Delaware corporation.  This
amendment amends only the portions of the information previously reported that
have changed since the prior filing.

Item 3. Source and Amount of Funds or Other Consideration

In accordance with the Agreement of Limited Partnership of 1888 Limited
Partnership dated as of September 14, 1995 by and among the Partners (the
"Agreement"), Craig P. Baker, one of the Partners, contributed and transferred
90,365 additional shares of Common Stock of First of Michigan Capital
Corporation to the partnership on September 5, 1996.  In consideration of such
contribution and transfer, Mr. Baker received an increase in his limited
partnership interest in the Partnership and all rights incident to such
interest as enumerated in the Agreement.

Item 4. Purpose of Transaction

The purpose of the transaction is to enable the Partnership (a) to acquire,
hold, vote, manage, transfer, sell and otherwise deal with the 90,365
additional shares of Common Stock of First of Michigan Capital Corporation
contributed by Craig P. Baker together with the shares of such Common Stock
previously contributed by the Partners, together with any other stock obtained
by the Partnership, (b) to invest in one or more assets of any type,
including, without limitation, purchasing, selling and otherwise dealing with
such investments, and (c) to conduct all such other business incidental to and
not inconsistent with the general purposes set forth in (a) and (b) above.

Item 5.(a)-(b) Interest in Securities of the Issuer

               Number of


               Shares                        Shared         Sole           Shared
Reporting      Beneficially  Sole Voting     Voting      Dispositive     Dispositive
Percent
Person         Owned         Power           Power          Power          Power
Ownership
- -----------   -------------  ------------    ----------   -------------  ------------------
                                                            
The Partnership 747,929       747,929        0             747,929        0      
28.4%


        (c)    No transactions involving the reporting person have occurred
during the past sixty days except as
described in Item 3 above.

                                             SIGNATURE

        After reasonable inquiry and to the best of its knowledge and belief,
the reporting person certifies that the information set forth in the Statement
is true, complete and correct.

Dated:  September 5, 1996

                                         1888 LIMITED PARTNERSHIP

                                         By: /s/ Craig P. Baker

                                         Craig P. Baker, its General Partner

                                         By: /s/ Louis C. Baker

                                         Louis C. Baker, its General Partner