UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___________________)*
AG SERVICES OF AMERICA INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
001250109
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(CUSIP Number)
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)
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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 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).
CUSIP No. 001250109
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1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
INGALLS & SNYDER LLC
13-5156620
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
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NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
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8. SHARED DISPOSITIVE POWER
341,767
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
341,767 (See Item 6)
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.2% (see Item 6)
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12. TYPE OF REPORTING PERSON*
BD
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Item 1. (a) Name of Issuer:
AG SERVICES OF AMERICA INC.
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(b) Address of Issuer's Principal Executive Offices:
1309 TECHNOLOGY PARKWAY
CEDAR FALLS, IA 50613
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Item 2. (a) Name of Person Filing:
INGALLS & SNYDER LLC
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(b) Address of Principal Business Office, or if None, Residence:
61 BROADWAY, NEW YORK, NY 10006
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(c) Citizenship:
NY STATE
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(d) Title of Class of Securities:
COMMON STOCK
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(e) CUSIP Number:
001250109
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Item 3. If this statement is filed pursuant to Rules 240.13d-(1), or
13d-2(b) or (c), check whether the person filing is a:
(a) [X] 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 of 1940 (15 U.S.C 80a-8)
(e) [] Investment Adviser in accordance with Section
240.13d-1(b)(1)(ii)(E)
(f) [ ] Employee Benefit Plan or endowment fund in accordance
to Section 240.13d-1(b)(ii)(F)
(g) [ ] A parent holding company or control person in
accordance with Section 240.13d-1(b)(1)(ii)(G)
(h) [ ] A savings associations 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)(1)(ii)(J)
Item 4. Ownership.
(a) Amount beneficially owned: 341,767---(see Item 6)-----------,
(b) Percent of class: 6.2%------(see Item 6)--------------------,
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0---(see Item 6)--,
(ii) Shared power to vote or to direct the vote
0 ---(see Item 6)---,
(iii) Sole power to dispose or to direct the disposition of
0---(see Item 6)-----,
(iv) Shared power to dispose or to direct the disposition of
341,767 --(see Item 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 [ ].
INAPPLICABLE
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Leslie Goldstein ("Goldstein"), a director of Ingalls & Snyder LLC ("I&S"),
in a separate schedule 13G dated January 9, 2003, has reported beneficial
ownership of 13.1% of the common shares of this issuer. This reported
percentage of ownership includes the 341,767 shares reported in this schedule.
Goldstein, by virtue of discretionary dispositive power granted him by
certain clients of I&S, shares dispositive power over the aforementioned
341,767 shares.
Goldstein personally owns 212,000 common shares of this security and shares
both dispositive and voting power with his wife, Roslyn Goldstein, over 95,005
such shares owned by The Leslie Goldstein and Roslyn Goldstein Foundation.
The foregoing shares, in the aggregate, constitute the 13.1% beneficially owned
shares reported in Goldstein's aforementioned schedule 13G dated
January 9, 2003.
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
INAPPLICABLE
Item 8. Identification and Classification of Members of the Group.
INAPPLICABLE
Item 9. Notice of Dissolution of 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: 1/9/03
INGALLS & SNYDER LLC
BY:
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(Signature)*
Edward H. Oberst
Managing Director
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(Name/Title)
* Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).