-----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, J8q1LhzXxHNrHLGUW/VbugYDET2NBx368K0BhoGzj9Z10Cp5gsDhCridl4tiXjtB QUf3rUt/bexjXU+W3yQUtw== 0000950152-98-001553.txt : 19980302 0000950152-98-001553.hdr.sgml : 19980302 ACCESSION NUMBER: 0000950152-98-001553 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980227 SROS: NONE GROUP MEMBERS: ACADIA FUND I, L.L.C. GROUP MEMBERS: ACADIA FUND I, L.P. GROUP MEMBERS: MILLER & JACOBS CAPITAL LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SOURCE CAPITAL CORP CENTRAL INDEX KEY: 0000746776 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 910853890 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-53661 FILM NUMBER: 98551708 BUSINESS ADDRESS: STREET 1: 1825 NORTH HUTCHINSON ROAD CITY: SPOKANE STATE: WA ZIP: 99212 BUSINESS PHONE: 5099280908 FORMER COMPANY: FORMER CONFORMED NAME: SELECTORS INC DATE OF NAME CHANGE: 19911121 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MILLER & JACOBS CAPITAL LLC CENTRAL INDEX KEY: 0001056767 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 237 PARK AVE STREET 2: STE 801 CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2126923660 MAIL ADDRESS: STREET 1: 237 PARK AVE STREET 2: STE 801 CITY: NEW YORK STATE: NY ZIP: 10017 SC 13G 1 MILLER & JACOBS CAPITAL/SOURCE CAPITAL SCHEDULE13G 1 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* Source Capital Corporation ------------------------------------------------------ (Name of Issuer) Common Stock ------------------------------------------------------ (Title of Class of Securities) 836142307 ------------------------------------------------------ (CUSIP Number) February 19, 1998 ------------------------------------------------------ (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed [ ] Rule 13d-1(b) [x] Rule 13d-1(c) [ ] Rule 13d-1(d) *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 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 following page(s)) Page 1 of 9 Pages 2 2 CUSIP NO. 836142307 13G PAGE 2 OF 9 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Acadia Fund I, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 115,439 ------------------------------------------------------------ NUMBER OF 6 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY EACH ------------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON 115,439 WITH ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 115,439 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.77% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN 3 CUSIP NO. 836142307 13G PAGE 3 OF 9 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Acadia Fund I, L.L.C. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 115,439 ------------------------------------------------------------ NUMBER OF 6 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY EACH ------------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON 115,439 WITH ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 115,439 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.77% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- 4 CUSIP NO. 836142307 13G PAGE 4 OF 9 PAGES - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Miller & Jacobs Capital, L.L.C. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 19,900 ------------------------------------------------------------ NUMBER OF 6 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY EACH ------------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON 135,340 WITH ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 135,340 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES * [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 9.19% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- 5 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------------------------- SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 --------------------------------- Item 1. (a). Name of Issuer: Source Capital Corporation (b). Address of Issuer's Principal Executive Offices: 1825 N. Hutchinson Road Spokane, Washington 99212 Item 2. (a). Name of Person Filing: This Schedule 13G is being jointly filed by each of the following persons pursuant to Rule 13d-1(k)(1) promulgated by the Securities and Exchange Commission pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "Act"): Acadia Fund I, L.P. (the "Limited Partnership"), Acadia Fund I, L.L.C. (the "General Partner") and Miller & Jacobs Capital, L.L.C. (who are collectively referred to herein as the "Filing Persons"). The Limited Partnership is a Delaware limited partnership formed for the purpose of investing in, among other things, the equity securities of various financial services providers. Acadia Fund I, L.L.C., a Delaware limited liability company, is the general partner of the Limited Partnership. The investment manager of the Limited Partnership is Miller & Jacobs Capital, L.L.C., a Delaware limited liability company. The investment manager is responsible for all investment decisions of the Limited Partnership. Miller & Jacobs Capital, L.L.C. also holds investment advisory accounts over which it exercises voting and dispositive power. The members of Acadia Fund I, L.L.C. and Millers & Jacobs Capital, L.L.C. are Jeffrey A. Miller and Eric D. Jacobs, each of whom has management authority for the aforementioned entities. The Filing Persons have entered into a Joint Filing Agreement, dated February 26, 1998, a copy of which is filed with this Schedule 13G as Exhibit A, pursuant to which the Filing Persons have agreed to file this statement jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act. The Filing Persons may be deemed to constitute a "group" for purposes of Section 13(d)(3) of the Act as a result of the relationships among such Filing Persons described in this Schedule 13G. The Filing Persons expressly disclaim that they have agreed to act as a group other than as described in this Schedule 13G. (b). Address of Principal Business Office: The Filing Persons all maintain the same principal business office at 237 Park Avenue, Suite 801 New York, New York 10017 Page 5 of 9 Pages 6 Item 2. (c). Citizenship: Delaware (d). Title of Class of Securities: Common Stock, no stated par value (e). CUSIP Number: 836142307 Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o) (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c) (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c) (d) [ ] Investment company registered under section 8 of the Investment Company Act (15 U.S.C. 80a-8) (e) [ ] An investment advisor in accordance with Section 240.13d-1(b)(1)(ii)(E) (f) [ ] An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(ii)(F) (g) [ ] A parent holding company or control person in accordance with Section 240.13d-1(b)(ii)(G) (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3) (j) [ ] Group, in accordance with Section 240.13d-1(b)(ii)(J) If this statement is filed pursuant to Section 240.13d-1(c), check this box [x]. Item 4. Ownership. (a). Amount Beneficially Owned 115,439 shares may be deemed beneficially owned within the meaning of Rule 13d-3 of the Act by Acadia Fund I, L.P. and Acadia Fund I, L.L.C., including 105,989 shares of common stock resulting from the assumed conversion of $1,000,000 of 7.5% convertible subordinated debentures due March 1, 2008. In connection with two investment advisory accounts over which Miller & Jacobs Capital, L.L.C. exercises investment authority, 19,900 shares may be deemed beneficially owned within the meaning of Rule 13d-3 of the Act by Miller & Jacobs Capital, L.L.C., including 18,850 shares of common stock resulting from the assumed conversion of $1,000,000 of 7.5% convertible subordinated debentures due March 1, 2008. In its capacity as investment manager to Acadia Fund I, L.P., 115,439 shares may be deemed beneficially owned within the meaning of Rule 13d-3 of the Act by Miller & Jacobs Capital, L.L.C., including 105,989 shares of common stock resulting from the assumed conversion of $1,000,000 of 7.5% convertible subordinated debentures due March 1, 2008. (b). Percent of Class: 9.19% Page 6 of 9 Pages 7 Item 4 (c). Number of shares as to which such person has: (i) sole power to vote or to direct the vote by Miller & Jacobs Capital, L.L.C. 19,900 by Acadia Fund I, L.L.C. 115,439 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of by Miller & Jacobs Capital, L.L.C. 135,340 (iv) shared power to dispose or to direct the disposition of 0 Item 5. Ownership of Five Percent or Less of a Class: Not Applicable Item 6. Ownership of More Than Five Percent on Behalf of Another Person: Not Applicable Item 7. Identification and Classification of Subsidiaries which Acquired the Security Being Reported on by the Parent Holding Company: Not Applicable Item 8. Identification and Classification of Members of the Group: Not Applicable Page 7 of 9 Pages 8 9 Item 9. Notice of Dissolution of Group: Not Applicable 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 that 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. ACADIA FUND I, L.P. By its General Partner ACADIA FUND I, L.L.C. Dated: February 26, 1998 By: /s/ JEFFREY A. MILLER ---------------------------------- Name: Jeffrey A. Miller Title: Managing Member ACADIA FUND I, L.L.C. Dated: February 26, 1998 By: /s/ JEFFREY A. MILLER ---------------------------------- Name: Jeffrey A. Miller Title: Managing Member MILLER & JACOBS CAPITAL, L.L.C. Dated: February 26, 1998 By: /s/ JEFFREY A. MILLER ---------------------------------- Name: Jeffrey A. Miller Title: Managing Member Page 8 of 9 Pages 9 Exhibit A --------- AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G --------------------- The undersigned hereby agree as follows: (i) Each of them is individually eligible to use the Schedule 13G to which this Exhibit is attached, and such Schedule 13G is filed on behalf of each of them; and (ii) Each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. Date: February 26, 1998 ACADIA FUND I, L.P. By its General Partner ACADIA FUND I, L.L.C. By: /s/ JEFFREY A. MILLER ---------------------------------- Name: Jeffrey A. Miller Title: Managing Member ACADIA FUND I, L.L.C. By: /s/ JEFFREY A. MILLER ---------------------------------- Name: Jeffrey A. Miller Title: Managing Member MILLER & JACOBS CAPITAL, L.L.C. By: /s/ JEFFREY A. MILLER ---------------------------------- Name: Jeffrey A. Miller Title: Managing Member Page 9 of 9 Pages -----END PRIVACY-ENHANCED MESSAGE-----