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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950123-01-001310.txt : 20010223
<SEC-HEADER>0000950123-01-001310.hdr.sgml : 20010223
ACCESSION NUMBER:		0000950123-01-001310
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20010214

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPITAL SOUTHWEST CORP
		CENTRAL INDEX KEY:			0000017313
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		IRS NUMBER:				751072796
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		
		SEC FILE NUMBER:	005-06834
		FILM NUMBER:		1541223

	BUSINESS ADDRESS:	
		STREET 1:		12900 PRESTON RD STE 700
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75230
		BUSINESS PHONE:		9722338242

	MAIL ADDRESS:	
		STREET 1:		12900 PRESTON RD
		STREET 2:		SUITE 700
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75230

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNITED STATES TRUST CO OF NEW YORK/
		CENTRAL INDEX KEY:			0001085059
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		IRS NUMBER:				135459866

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		114 WEST 47TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		2128523812

	MAIL ADDRESS:	
		STREET 1:		114 WEST 47TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>y45535gsc13ga.txt
<DESCRIPTION>CAPITAL SOUTHWEST CORP
<TEXT>

<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  Schedule 13G


                    Under the Securities Exchange Act of 1934
                               (Amendment No. 7)

                            Capital Southwest Corp
 -------------------------------------------------------------------------------
                                (Name of Issuer)


                                     Common
 -------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                 140501 11 0
                ---------------------------------------------
                                 (CUSIP Number)


Check the following box if a fee is being paid with this statement. [ ] (A fee
is not required only if the filing 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 reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)

*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 pages(s))

                              Page 1 of 5 Pages





<PAGE>   2



CUSIP No. 148411 10 1                 13G                       Page 2   of   5
- --------------------------------------------------------------------------------
       NAME OF REPORTING PERSON
1      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON


         U.S. Trust Company of New York                        13-5459866
- --------------------------------------------------------------------------------
       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2
       N/A                                                             (a) [ ]
                                                                       (b) [ ]

- --------------------------------------------------------------------------------
       SEC USE ONLY
3

- --------------------------------------------------------------------------------
       CITIZENSHIP OR PLACE OF ORGANIZATION
4
       New York
- --------------------------------------------------------------------------------
                       SOLE VOTING POWER
                    5
                             - 0 -
       NUMBER OF
                    ------------------------------------------------------------
        SHARES         SHARED VOTING POWER
     BENEFICIALLY   6
       OWNED BY        See p. 4, Item 5.
         EACH
                    ------------------------------------------------------------
       REPORTING       SOLE DISPOSITIVE POWER
        PERSON      7
         WITH                - 0 -

                    ------------------------------------------------------------
                       SHARED DISPOSITIVE POWER
                    8
                             See 6

- --------------------------------------------------------------------------------
       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
                             See 6

- --------------------------------------------------------------------------------
       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
            N/A

- --------------------------------------------------------------------------------
       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
            See 6


- --------------------------------------------------------------------------------
       TYPE OF REPORTING PERSON
12
       HC/BK
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>   3

                        Issuer
                        ------
                        Capital Southwest Corp

Item 1 (b)              Address of Issuer's Principal Executive Offices:
                        ------------------------------------------------
                        12900 Preston Rd
                        Dallas TX 75230

Item 2 (a)              Name of Person Filing:
                        ---------------------

                        U.S. Trust Company of New York

Item 2 (b)              Address or Principal Place of Business:
                        ---------------------------------------

                        114 West 47th Street
                        New York, N.Y. 10036

Item 2 (c)              Citizenship:

                        New York
Item 2 (d)              Title of Class of Securities:
                        ----------------------------

                        Common

Item 2 (e)              CUSIP Number:

                        140501 11 0

Item 3                  If this statement is filed pursuant to Rules
                        13d-1(b), or 13d-2(b), check whether the person
                        filing is a:

                        (a)      Not applicable

                        (b) (X)  United States Trust Company of New York, a
                                 bank as defined in Section 3(a)(6) of Act.

                        (c)      Not applicable

                        (d)      Not applicable

                        (e)      Not applicable

                        (f)      Not applicable

                        (g) (X)  U.S. Trust Corporation is a parent holding
                                 company, in accordance with section
                                 240.13d-1 (b)(1)(ii)(G).

                        (h)      Not applicable



                                      -3-
<PAGE>   4
Item 4                  (a)   Amount Beneficially Owned:

                              See Item 5

                        (b)   Percent of Class:

                              See Item 5

                        (c)   Number of shares as to which such person has:

                              (i)   sole power to vote or to direct the vote

                                    -0-

                              (ii)  shared power to vote or to direct the vote
                                    See Item 5

                              (iii) sole power to dispose or to direct the
                                    disposition of

                                    -0-

                              (iv)  shared power to dispose or to direct the
                                    disposition of

                                    See Item 5

Item 5                  Ownership of Five Percent or Less of a Class
                        --------------------------------------------
                        The Reporting Persons Beneficially Own no longer more
                        than 5%

Item 6                  Ownership of More than Five Percent on Behalf of
                        ------------------------------------------------
                        Another Person.
                        ---------------

                        N/A

Item 7                  Identification and Classification of the Subsidiary
                        which Acquired the Security Being Reported on by the
                        Parent Holding Company.

                        See Items 1 and 12 of Page 2 and Item 3 herein.

<PAGE>   5
Item 8                  Identification and Classification of the Members of
                        ---------------------------------------------------
                        the Group.
                        ----------

                        Not applicable

Item 9                  Notice of Dissolution of Group.
                        -------------------------------

                        Not applicable

Item 10                 Certification.  By signing below we certify that, to
                        -------------
                        the best of our 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 our knowledge and belief, we certify that the
                        information set forth in this statement is true,
                        complete and correct.



Date:   February 14, 2001
        ------------------




                                    UNITED STATES TRUST COMPANY OF
                                    NEW YORK



                              By:   /s/  Joseph A. Tricarico
                                   ------------------------------------------
                                     Name:  Joseph A. Tricarico
                                     Title: Vice President and Trust Counsel



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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