UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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. 17)*
Boulder Growth & Income Fund, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
101507101
(CUSIP Number)
Stephen C. Miller, Esq.
Krassa & Miller, LLC
1680 38th Street, Suite 800
Boulder, Colorado 80301
(303) 442-2156
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 23, 2003
(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 for other parties
to whom copies are to be sent.
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* 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
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).
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CUSIP No. 101507101
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Ernest Horejsi Trust No. 1B
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(A)
(B)
3. SEC Use Only
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4. Source of Funds (See Instructions) WC OO
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization Kansas
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Number of 7. Sole Voting Power 2,354,600
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Shares Bene-
ficially 8. Shares Voting Power
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Owned by Each
Reporting 9. Sole Dispositive Power 2,354,600
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Person With
10. Shared Dispositive Power
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,354,600
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13. Percent of Class Represented by Amount in Row (11) 20.79%
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14. Type of Reporting Person (See Instructions) OO
CUSIP No. 101507101
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Stewart R. Horejsi
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(A)
(B)
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3. SEC Use Only
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4. Source of Funds (See Instructions) Not applicable
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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6. Citizenship or Place of Organization United States
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Number of 7. Sole Voting Power 0
---------------------------------------------------
Shares Bene-
ficially 8. Shares Voting Power 0
-----------------------------------------------------
Owned by Each
Reporting 9. Sole Dispositive Power 0
-----------------------------------------------------
Person With
10. Shared Dispositive Power 0
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 0
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) X
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13. Percent of Class Represented by Amount in Row (11) 0%
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14. Type of Reporting Person (See Instructions) IN
Amendment No. 17 to Statement on Schedule 13D
This amended statement on Schedule 13D relates to the Common Stock, $0.01
par value per share (the "Shares"), of Boulder Growth & Income Fund, Inc.,
formerly USLIFE Income Fund, Inc., a Maryland corporation (the "Company"). Items
3, 4 and 5 of this statement, previously filed by the Ernest Horejsi Trust No.
1B (the "Trust"), as the direct beneficial owner of the Shares, and Stewart R.
Horejsi, by virtue of the relationships described previously in this statement,
are hereby amended as set forth below.
Item 3. Source and Amount of Funds or Other Consideration.
No change except for the addition of the following:
The total proceeds received by the Trust for the sale of the 113,200 Shares
reported in Item 5(c) was $550,865.62. Such Shares were sold in the open market
and effected by the Trust on the New York Stock Exchange.
Item 4. Purpose of Transaction.
No change except for the addition of the following:
The Trust sold the Shares described in Item 5(c) of this statement in order
to reduce its equity interest in the Company and to generate cash flow to pay
current and future obligations. The Trust has indicated a present intention to
liquidate 113,278 Shares and has no present intentions of acquiring additional
Shares. In furtherance thereof, the Trust filed Form 144 with the Securities and
Exchange Commission on June 23, 2003, giving notice of the proposed sale.
Depending upon their evaluation of the Company's investments and prospects,
and upon future developments (including, but not limited to, performance of the
Shares in the market, the effective yield on the Shares, availability of funds,
alternative uses of funds, and money, stock market and general economic
conditions), any of the Reporting Persons or other entities that may be deemed
to be affiliated with the Reporting Persons may from time to time purchase
Shares, and any of the Reporting Persons or other entities that may be deemed to
be affiliated with the Reporting Persons may from time to time dispose of all or
a portion of the Shares held by such person, or cease buying or selling Shares.
Any such additional purchases or sales of the Shares may be in open market or
privately-negotiated transactions or otherwise.
Item 5. Interest in Securities of the Issuer.
No change except for the addition of the following:
(a) The Trust is the direct beneficial owner of 2,354,600 Shares, or
approximately 20.79% of the 11,327,784 Shares outstanding as February 28, 2003
according to information contained in the Company's proxy statement dated March
25, 2003. By virtue of the relationships reported in this statement, Mr. Horejsi
may be deemed to share indirect beneficial ownership of the Shares directly
beneficially owned by the Trust. Mr. Horejsi disclaims all such beneficial
ownership.
(c) The table below sets forth Shares sold by the Trust since June 23,
2003. Such sales were effected by the Trust on the New York Stock Exchange.
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Number of Shares Sales Price
Date
---------------------------- -------------------------- --------------------------
06/23/2003 5,000 $4.91
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06/23/2003 5,000 $4.90
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06/23/2003 5,000 $4.88
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06/23/2003 5,000 $4.88
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06/23/2003 100 $4.88
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06/23/2003 100 $4.88
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06/23/2003 4,800 $4.87
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06/23/2003 5,000 $4.87
---------------------------- -------------------------- --------------------------
06/24/2003 2,000 $4.88
---------------------------- -------------------------- --------------------------
06/24/2003 3,000 $4.88
---------------------------- -------------------------- --------------------------
06/24/2003 1,000 $4.89
---------------------------- -------------------------- --------------------------
06/24/2003 2,000 $4.89
---------------------------- -------------------------- --------------------------
06/24/2003 2,000 $4.89
---------------------------- -------------------------- --------------------------
06/24/2003 2,400 $4.89
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06/24/2003 300 $4.89
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06/24/2003 500 $4.89
---------------------------- -------------------------- --------------------------
06/24/2003 500 $4.89
---------------------------- -------------------------- --------------------------
06/24/2003 200 $4.89
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06/24/2003 500 $4.89
---------------------------- -------------------------- --------------------------
06/24/2003 600 $4.89
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06/24/2003 2,000 $4.90
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06/24/2003 800 $4.90
---------------------------- -------------------------- --------------------------
06/24/2003 1,000 $4.90
---------------------------- -------------------------- --------------------------
06/24/2003 1,000 $4.90
---------------------------- -------------------------- --------------------------
06/24/2003 200 $4.90
---------------------------- -------------------------- --------------------------
06/24/2003 4,000 $4.91
---------------------------- -------------------------- --------------------------
06/24/2003 700 $4.91
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06/24/2003 300 $4.91
---------------------------- -------------------------- --------------------------
06/24/2003 100 $4.92
---------------------------- -------------------------- --------------------------
06/24/2003 1,500 $4.92
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06/24/2003 2,000 $4.92
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06/24/2003 1,400 $4.92
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06/24/2003 1,000 $4.93
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06/25/2003 15,000 $4.86
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06/25/2003 5,000 $4.86
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06/25/2003 5,000 $4.86
---------------------------- -------------------------- --------------------------
06/25/2003 500 $4.88
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06/25/2003 4,500 $4.88
---------------------------- -------------------------- --------------------------
06/25/2003 500 $4.90
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06/25/2003 4,700 $4.87
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06/25/2003 300 $4.87
---------------------------- -------------------------- --------------------------
06/25/2003 2,000 $4.87
---------------------------- -------------------------- --------------------------
06/25/2003 3,000 $4.87
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06/25/2003 2,100 $4.90
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06/25/2003 2,900 $4.90
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06/25/2003 3,300 $4.93
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06/25/2003 100 $4.93
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06/25/2003 800 $4.93
---------------------------- -------------------------- --------------------------
06/25/2003 800 $4.93
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06/26/2003 1,700 $4.86
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Signature
After due 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: June 26, 2003
/s/ Stewart R. Horejsi
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Stewart R. Horejsi
/s/ Stephen C. Miller
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Stephen C. Miller, as Vice President of
Badlands Trust Company, trustee of the
Ernest Horejsi Trust No. 1B