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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
Under the Securities Exchange Act of 1934
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) and (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. )*
Yellow Corporation
(Name of Issuer)
Common Stock, $1 par value
(Title of Class of Securities)
985509108
(CUSIP Number)
December 31, 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:
_X_ Rule 13d-1(b)
___ 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).
Page 1 of 11 pages
CUSIP No. 985509108 Page 2 of 11 pages
- ------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Clover Capital Management, Inc.
16-1263400
- ------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) / /
(b) /x/
- ------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------
(5) SOLE VOTING POWER
0
----------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 1,719,300
EACH REPORTING PERSON ----------------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
----------------------------------------
(8) SHARED DISPOSITIVE POWER
1,719,300
- ------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,719,300
- ------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * / /
- ------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- ------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *
IA
- ------------------------------------------------------------------
SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 11 pages
CUSIP No. 985509108 Page 3 of 11 pages
- ------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Michael E. Jones
- ------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /x/
- ------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ------------------------------------------------------------------
(5) SOLE VOTING POWER
0
----------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 1,719,300
EACH REPORTING PERSON ----------------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
----------------------------------------
(8) SHARED DISPOSITIVE POWER
1,719,300
- ------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,719,300
- ------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * / /
- ------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- ------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *
IN
- ------------------------------------------------------------------
SEE INSTRUCTION BEFORE FILLING OUT!
Page 3 of 11 pages
CUSIP No. 985509108 Page 4 of 11 pages
- ------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Geoffrey H. Rosenberger
- ------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /x/
- ------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ------------------------------------------------------------------
(5) SOLE VOTING POWER
12,000
----------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 1,720,100
EACH REPORTING PERSON ----------------------------------------
WITH (7) SOLE DISPOSITIVE POWER
12,000
----------------------------------------
(8) SHARED DISPOSITIVE POWER
1,720,100
- ------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,732,100
- ------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * / /
- ------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.8%
- ------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *
IN
- ------------------------------------------------------------------
SEE INSTRUCTION BEFORE FILLING OUT!
Page 4 of 11 pages
CUSIP No. 985509108 Page 5 of 11 pages
- ------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Charles W. Ruff
- ------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /x/
- ------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ------------------------------------------------------------------
(5) SOLE VOTING POWER
2,000
----------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 1,721,500
EACH REPORTING PERSON ----------------------------------------
WITH (7) SOLE DISPOSITIVE POWER
2,000
----------------------------------------
(8) SHARED DISPOSITIVE POWER
1,721,500
- ------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,723,500
- ------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * / /
- ------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- ------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *
IN
- ------------------------------------------------------------------
SEE INSTRUCTION BEFORE FILLING OUT!
Page 5 of 11 pages
CUSIP No. 985509108 Page 6 of 11 pages
- ------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
James G. Gould
- ------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /x/
- ------------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ------------------------------------------------------------------
(5) SOLE VOTING POWER
0
----------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 1,719,300
EACH REPORTING PERSON ----------------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
----------------------------------------
(8) SHARED DISPOSITIVE POWER
1,719,300
- ------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,719,300
- ------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * / /
- ------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- ------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *
IN
- ------------------------------------------------------------------
SEE INSTRUCTION BEFORE FILLING OUT!
Page 6 of 11 pages
Item 1(a). Name of Issuer
Yellow Corporation
Item 1(b). Address of Issuer's Principal Executive Offices
10990 Roe Avenue, P.O. Box 7563
Overland Park, Kansas 66207
Item 2.
(a) The persons filing this Schedule are Clover Capital Management,
Inc. ("Clover"), Michael E. Jones, Geoffrey H. Rosenberger,
Charles W. Ruff and James G. Gould (collectively, the "Reporting
Persons").
(b) Address of principal business office of the Reporting Persons:
11 Tobey Village Office Park
Pittsford, NY 14534
(c) Citizenship
Clover is incorporated in the State of New York. The other
Reporting Persons are U.S. citizens.
(d) Title of Class of Securities
Common Stock, $1 par value
(e) CUSIP Number
985509108
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) / / Broker of Dealer registered under Section 15 of the Exchange Act.
(b) / / Bank as defined in section 3(a)(6) of the Exchange Act.
(c) / / Insurance Company as defined in section 3(a)(19) of the Exchange
Act.
(d) / / Investment Company registered under section 8 of the
Investment Company Act.
(1) (e) /x/ An Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
(f) / / An Employee Benefit Plan or Endowment Fund in accordance with
Rule 13d-1(b)(1)(ii)(F).
(2) (g) /x/ Parent Holding Company or control person in accordance with Rule
13d-1(b)(1)(ii)(G).
(h) / / A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act.
(i) / / A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act.
(j) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
(1) As to Clover.
(2) As to the other Reporting Persons.
Page 7 of 11 pages
Item 4. Ownership
Amount Beneficially Owned
-------------------------
See item 9 on pages 2, 3, 4, 5 and 6
(b) Percent of Class
----------------
See item 11 on pages 2, 3, 4, 5 and 6
(c) Number of shares as to which person has:
(i) sole power to vote or to direct the vote
----------------------------------------
See item 5 on pages 2, 3, 4, 5 and 6
(ii) shared power to vote or to direct the vote
------------------------------------------
See item 6 on pages 2, 3, 4, 5 and 6
(iii) sole power to dispose or to direct the disposition of
-----------------------------------------------------
See item 7 on pages 2, 3, 4, 5 and 6
(iv) shared power to dispose or to direct the disposition of
-------------------------------------------------------
See item 8 on pages 2, 3, 4, 5 and 6
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 / /.
Item 6. Ownership of more than Five Percent on Behalf of Another Person
The aggregate number and percentage of the subject securities
beneficially owned by each of the Reporting Persons is as follows:
NAME NO. OF SHARES PERCENTAGE
Clover 1,719,300 6.7005
Michael E. Jones 0 0.0000
Geoffrey H. Rosenberger 12,800 0.0499
Charles W. Ruff 4,200 0.0164
James G. Gould 0 0.0000
As investment adviser to the client accounts owning the subject
securities, Clover shares the voting and dispositive power with the
account owner of each account. As directors of Clover, Messrs.
Jones, Rosenberger, Ruff and Gould share the dispositive powers
with Clover. In addition, Mr. Rosenberger holds sole voting and
dispositive power with respect to 12,000 shares and shared voting and
dispositive power with respect to 800 shares of the subject securities
beneficially owned by him (other than indirectly through Clover)
and Mr. Ruff holds sole voting and dispositive power with respect to
2,000 shares and shared voting and dispositive power with respect
Page 8 of 11 pages
to 2,200 shares of the subject securities beneficially owned by him
(other than indirectly through Clover).
Item 7. Identification and Classification of the Subsidiary 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
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 and are held
in the ordinary course of business and were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
Page 9 of 11 pages
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.
CLOVER CAPITAL MANAGEMENT, INC.
February 5, 1999 By: /s/ Michael E. Jones
---------------------------
Michael E. Jones
Managing Director
February 5, 1999 /s/ Michael E. Jones
--------------------------------
Michael E. Jones
February 5, 1999 /s/ Geoffrey H. Rosenberger
--------------------------------
Geoffrey H. Rosenberger
February 5, 1999 /s/ Charles W. Ruff
--------------------------------
Charles W. Ruff
February 5, 1999 /s/ James G. Gould
--------------------------------
James G. Gould
Page 10 of 11 pages
EXHIBIT A AGREEMENT PURSUANT TO RULE 13D-1(F)(1) The undersigned persons agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of the common stock of Yellow Corporation at December 31, 1998 and agree that this filing is filed on behalf of each of them. CLOVER CAPITAL MANAGEMENT, INC. February 5, 1999 By: /s/ Michael E. Jones --------------------------- Michael E. Jones Managing Director February 5, 1999 /s/ Michael E. Jones -------------------------------- Michael E. Jones February 5, 1999 /s/ Geoffrey H. Rosenberger -------------------------------- Geoffrey H. Rosenberger February 5, 1999 /s/ Charles W. Ruff -------------------------------- Charles W. Ruff February 5, 1999 /s/ James G. Gould -------------------------------- James G. Gould Page 11 of 11 pages