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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1 )
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CLEVELAND-CLIFFS INC
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
185896107
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(CUSIP Number)
December 31, 2003
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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CUSIP No. 185896107
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1. Names of Reporting Persons.
LOEWS CORPORATION
I.R.S. Identification Nos. of above persons (entities only).
13-2646102
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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. Citizenship or Place of Organization.
DELAWARE CORPORATION
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Number of 5. Sole Voting Power ............................ 293,100
Shares -----------------------------------------------------------
Beneficially
Owned as of 6. Shared Voting Power .......................... 0
December 31, 2003 -----------------------------------------------------------
by Each Reporting
Person With 7. Sole Dispositive Power ....................... 293,100
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8. Shared Dispositive Power ..................... 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person as of
December 31, 2003 ...............................................293,100
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) ..........................................................
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11. Percent of Class Represented by Amount in Row 9 ................. 2.8%
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12. Type of Reporting Person (See Instructions).
CO
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Item
1.
(a) Name of Issuer
CLEVELAND-CLIFFS INC
(b) Address of Issuer's Principal Executive Offices
1100 SUPERIOR AVENUE
CLEVELAND, OHIO 44114-2589
Item
2.
(a) Name of Person Filing
LOEWS CORPORATION
(b) Address of Principal Business Office or, if None, Residence
667 MADISON AVENUE
NEW YORK, NEW YORK 10021
(c) Citizenship
DELAWARE CORPORATION
(d) Title of Class of Securities
COMMON STOCK
(e) CUSIP Number
185896107
Item If this statement is filed pursuant to Section 240.13d-1(b) or 240.13d-
3. 2(b) or (c), check whether the person filing is a:
(a) [ ] 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
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Investment Company Act of 1940 (15 U.S.C 80a-8).
(e) [ ] An investment adviser in accordance with Section 240.13d-
1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(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 Ownership.
4.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 293,100
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(b) Percent of class: 2.8%
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(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 293,100
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(ii) Shared power to vote or to direct the vote 0
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(iii) Sole power to dispose or to direct the disposition of
293,100
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(iv) Shared power to dispose or to direct the disposition of
0
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Item Ownership of Five Percent or Less of a Class
5.
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 [ x ].
Item Ownership of More than Five Percent on Behalf of Another Person.
6.
NOT APPLICABLE
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Item Identification and Classification of the Subsidiary Which Acquired the
7. Security Being Reported on By the Parent Holding Company or Control
Person.
NOT APPLICABLE
Item Identification and Classification of Members of the Group
8.
NOT APPLICABLE
Item Notice of Dissolution of Group
9.
NOT APPLICABLE
Item Certification
10.
By signing below the undersigned certifies that, to the best of its
knowledge and belief, the securities referred to above 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.
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is
true, complete and correct.
LOEWS CORPORATION
Dated: February 9, 2004 By: /s/Gary W. Garson
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Gary W. Garson
Senior Vice President
and Secretary