SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) Porta Systems Corp. - ------------------------------------------------------------------------------ (Name of Issuer) Common Stock - ------------------------------------------------------------------------------ (Title of Class of Securities) 735647307 - ------------------------------------------------------------------------------ (CUSIP Number) CUSIP No. 735647307 Page 1 of 7 Pages 1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of above persons PNC Bank Corp. 25-1435979 2) Check the Appropriate Box if a Member of a Group (See Instructions) a) [ ] b) [ ] 3) SEC USE ONLY 4) Citizenship or Place of Organization Pennsylvania Number of Shares 5) Sole Voting Power 784,407 Beneficially Owned By Each Reporting Person With 6) Shared Voting Power 0 7) Sole Dispositive Power 784,407* 8) Shared Dispositive Power 0 9) Aggregate Amount Beneficially Owned by Each Reporting Person 784,407 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11) Percent of Class Represented by Amount in Row (9) 9.1+ 12) Type of Reporting Person (See Instructions) HC * See response to Item 4. + Reflects correction from percentage previously reported. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) Porta Systems Corp. - ------------------------------------------------------------------------------ (Name of Issuer) Common Stock - ------------------------------------------------------------------------------ (Title of Class of Securities) 735647307 - ------------------------------------------------------------------------------ (CUSIP Number) CUSIP No. 735647307 Page 2 of 7 Pages 1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of above persons PNC Bancorp, Inc. 51-0326854 2) Check the Appropriate Box if a Member of a Group (See Instructions) a) [ ] b) [ ] 3) SEC USE ONLY 4) Citizenship or Place of Organization Delaware Number of Shares 5) Sole Voting Power 784,407 Beneficially Owned By Each Reporting Person With 6) Shared Voting Power 0 7) Sole Dispositive Power 784,407* 8) Shared Dispositive Power 0 9) Aggregate Amount Beneficially Owned by Each Reporting Person 784,407 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11) Percent of Class Represented by Amount in Row (9) 9.1+ 12) Type of Reporting Person (See Instructions) HC * See response to Item 4. + Reflects correction from percentage previously reported. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No. 1) Porta Systems Corp. - ------------------------------------------------------------------------------ (Name of Issuer) Common Stock - ------------------------------------------------------------------------------ (Title of Class of Securities) 735647307 - ------------------------------------------------------------------------------ (CUSIP Number) CUSIP No. 735647307 Page 3 of 7 Pages 1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of above persons PNC Bank, National Association 22-1146300 2) Check the Appropriate Box if a Member of a Group (See Instructions) a) [ ] b) [ ] 3) SEC USE ONLY 4) Citizenship or Place of Organization United States Number of Shares 5) Sole Voting Power 784,407 Beneficially Owned By Each Reporting Person With 6) Shared Voting Power 0 7) Sole Dispositive Power 784,407* 8) Shared Dispositive Power 0 9) Aggregate Amount Beneficially Owned by Each Reporting Person 784,407 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11) Percent of Class Represented by Amount in Row (9) 9.1+ 12) Type of Reporting Person (See Instructions) BK * See response to Item 4. + Reflects correction from percentage previously reported. This Amendment No. 1 is being filed to correct the "Percent of Class" previously reported as beneficially owned on the Schedule 13G filed on January 12, 1998. Such percentage was based on an outdated outstanding shares amount. The corrected percentage is based on 8,613,336 outstanding shares of common stock of Porta Systems Corp. ITEM 1(a) - NAME OF ISSUER: Porta Systems Corp. ITEM 1(b) - ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 575 Underhill Boulevard, Syosset, New York 11791 ITEM 2(a) - NAME OF PERSON FILING: PNC Bank Corp.; PNC Bancorp, Inc.; and PNC Bank, National Association ITEM 2(b) - ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE: PNC Bank Corp., One PNC Plaza, 249 Fifth Avenue, Pittsburgh, PA 15222-2707 PNC Bancorp, Inc., 222 Delaware Avenue, Wilmington, DE 19899 PNC Bank, National Association, One PNC Plaza, 249 Fifth Avenue, Pittsburgh, PA 15222-2707 ITEM 2(c) - CITIZENSHIP: PNC Bank Corp. - Pennsylvania PNC Bancorp, Inc. - Delaware PNC Bank, National Association - United States ITEM 2(d) - TITLE OF CLASS OF SECURITIES: Common Stock ITEM 2(e) - CUSIP NUMBER: 735647307 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 or dealer registered under Section 15 of the Act, (b) [ X ] Bank as defined in Section 3(a)(6) of the Act, (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act, (d) [ ] Investment Company registered under Section 8 of the Investment Company Act, (e) [ ] Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940, (f) [ ] Employee Benefit Plan, pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund, (g) [ X ] Parent Holding Company, in accordance with Rule 13d-(b)(ii)(G), (h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H). ITEM 4 - OWNERSHIP: The following information is as of December 31, 1997: (a) Amount Beneficially Owned: 784,407 shares (b) Percent of Class: 9.1+ (c) Number of shares to which such person has: (i) sole power to vote or to direct the vote 784,407 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 784,407* (iv) shared power to dispose or to direct the disposition of 0 * Lloyd I. Miller, III has dispositive power with respect to these shares pursuant an Investment Advisory Agreement dated as of April 1, 1997 with PNC Bank, National Association, as Trustee. Either party may terminate the agreement on 30 days' prior written notice. + Reflects correction from percentage previously reported. ITEM 5 - OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: Not applicable. ITEM 6 - OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON: All 784,407 shares of Common Stock are held in Trust accounts created by an Amended and Restated Trust Agreement dated September 20, 1983, in which Lloyd I. Miller, Jr. was Grantor, and for which PNC Bank, National Association serves as Trustee. Mrs. Catherine Miller Ward may have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, 336,108 shares. ITEM 7 - IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY: Included are the following subsidiaries of PNC Bank Corp. - HC: PNC Bancorp, Inc. - HC (wholly owned subsidiary of PNC Bank Corp.) PNC Bank, National Association - BK (wholly owned subsidiary of PNC Bancorp, Inc.) 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 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 purposes 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. January 20, 1998 --------------------------------------------- Date /s/ Robert L. Haunschild --------------------------------------------- Signature - PNC Bank Corp. Robert L. Haunschild, Senior Vice President and Chief Financial Officer --------------------------------------------- Name/Title January 20, 1998 --------------------------------------------- Date /s/ Paul L. Audet --------------------------------------------- Signature - PNC Bancorp, Inc. Paul L. Audet, Vice President --------------------------------------------- Name/Title January 20, 1998 --------------------------------------------- Date /s/ Thomas R. Moore --------------------------------------------- Signature - PNC Bank, National Association Thomas R. Moore, Vice President and Secretary --------------------------------------------- Name/Title An Agreement to file a joint statement was previously filed as Exhibit A to the Schedule 13G filed January 12, 1998.