SCHEDULE 13D Under the Securities Exchange Act of 1934 Texas Pacific Land Trust --------------------------------------- (Name of Issuer) Sub-Share Certificates in Certificates of Proprietary Interest ----------------------------------------------------------------- (Title of Class of Securities) 882610108 ---------------------------------- (CUSIP Number) Michael S. Paquette Vice President and Controller Fund American Enterprises Holdings, Inc. The 1820 House, Main Street, Norwich, Vermont 05055-0850 (802) 649-3633 ------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 3, 1995 --------------------------------------------- (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 this statement X . ----- (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 re-porting 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. CUSIP NO. 882610108 - ------------------------------------------------------------------------------- (1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above Person Fund American Enterprises Holdings, Inc. 94-2708455 - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) _______________________ of a Group (See Instructions) (b) _______________________ (3) (SEC Use Only) - -------------------------------------------------------------------------------- (4) Source of Funds (See Instructions) - -------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - -------------------------------------------------------------------------------- (6) Citizenship or Place of Delaware Organization -------- Number of Sub-Shares (7) Sole Voting Power Beneficially Owned ----------------- by Each Reporting Person With (8) Shared Voting Power ------------------- 310,100 (9) Sole Dispositive Power ---------------------- (10) Shared Dispositive Power ------------------------ 310,100 (11) Aggregate Amount Beneficially Owned by Each Reporting Person 310,100 - -------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Sub-Shares (See Instructions) - -------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) Approximately 10.1% - -------------------------------------------------------------------------------- (14) Type of Reporting Person (See Instructions) HC, CO - -------------------------------------------------------------------------------- 2 of 9 CUSIP NO. 882610108 - -------------------------------------------------------------------------------- (1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above Person Fund American Enterprises, Inc. 51-0328932 - -------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) _______________________ of a Group (See Instructions) (b) _______________________ (3) (SEC Use Only) - -------------------------------------------------------------------------------- (4) Source of Funds (See Instructions) - -------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - -------------------------------------------------------------------------------- (6) Citizenship or Place of Delaware Organization -------- Number of Sub-Shares (7) Sole Voting Power Beneficially Owned ----------------- by Each Reporting Person With (8) Shared Voting Power ------------------- 310,100 (9) Sole Dispositive Power ---------------------- (10) Shared Dispositive Power ------------------------ 310,100 (11) Aggregate Amount Beneficially Owned by Each Reporting Person 310,100 - -------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Sub-Shares (See Instructions) - -------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) Approximately 10.1% - -------------------------------------------------------------------------------- (14) Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- 3 of 9 Item 1. Security and Issuer. -------------------- This statement on Schedule 13D relates to Sub-Share Certificates in Certificates of Proprietary Interest, par value $0.16 2/3 ("Sub-Shares") of Texas Pacific Land Trust ("TPL"), a Texas Trust. The address of the principal executive office of TPL is 80 Broad Street, New York, New York 10004. Item 2. Identity and Background. ------------------------ (a), (b), (c) and (f). This statement on Schedule 13D is filed by Fund American Enterprises Holdings, Inc., a Delaware corporation ("FAEH"). FAEH is a financial services holding company principally engaged, through its main operating subsidiary, Source One Mortgage Services Corporation and its subsidiaries ("Source One"), in the business of mortgage banking. Source One is a wholly owned subsidiary of Fund American Enterprises, Inc. ("FAE"), which in turn is a wholly owned subsidiary of FAEH. FAEH also owns a portfolio of investment securities. The principle business and office address of FAEH (and FAE) is The 1820 House, Main Street, Norwich, Vermont 05055-0850. The name, business address, present principle occupation or employment (and the name, principle business and address of any corporation or other organization in which such employment is conducted) and citizenship of each director and executive officer of FAEH and FAE is set forth on Schedule I, attached hereto, and incorporated herein by reference. (d) and (e). Neither FAEH, FAE and to the best knowledge of FAEH and FAE, any of the persons listed on Schedule I, attached hereto, during the last five years has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which any such person was or is subject to a judgement, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws. 4 of 9 Item 3. Source and Amount of Funds or Other Consideration. -------------------------------------------------- White River Corporation ("WRC") transferred 310,100 Sub-Shares to FAE at $26.875 in partial satisfaction of indebtedness due to FAE. WRC was formerly a wholly owned subsidiary of FAEH. Item 4. Purpose of Transaction. ----------------------- FAEH is holding the Sub-Shares for investment purposes and has no present plans or proposals which relate to , or would result in, any of the actions described in Item 4(a) through 4(j). Item 5. Interest in Securities of the Issuer. ------------------------------------- (a) FAEH owns all 310,100 Sub-Shares indirectly through FAE. The aggregate number of Sub-Shares and the corresponding percentage of the outstanding Sub-Shares such number represents is as follows: