SEC Info - Morgan Stanley - ‘SC 13G/A’ on 2/17/04 re: Payless Cashways Inc

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Morgan Stanley – ‘SC 13G/A’ on 2/17/04 re: Payless Cashways Inc

On: Tuesday, 2/17/04, at 2:41pm ET · Accession #: 895421-4-70 · File #: 5-02839

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer

 2/17/04  Morgan Stanley                    SC 13G/A               1:13K  Payless Cashways Inc

Amendment to Statement of Beneficial Ownership — Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G/A    Amendment - S&T - Ms&Co                                8     25K

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Certification Identification and Classification of Members of the Group Identification and Classification of the Subsidiary which Acquired the Security Being Reported on By the Parent Holding Company Morgan Stanley is a parent holding company Name of Issuer: PAYLESS CASHWAYS INC Notice of Dissolution of Group Ownership Ownership of Five Percent or Less of a Class Ownership of More Than Five Percent on Behalf of Another Person
1	1st Page - Filing Submission
4	Item 1. (a). Name of Issuer: PAYLESS CASHWAYS INC
"	Item 3. (a). Morgan Stanley is a parent holding company
5	Item 4. Ownership
"	Item 5. Ownership of Five Percent or Less of a Class
"	Item 6. Ownership of More Than Five Percent on Behalf of Another Person
"	Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on By the Parent Holding Company
"	Item 8. Identification and Classification of Members of the Group
"	Item 9. Notice of Dissolution of Group
"	Item 10. Certification

SC 13G/A 1st Page of 8 TOC ↑Top Previous Next ↓Bottom Just 1st
 
SECURITIES AND EXCHANGE COMMISSION  
Washington, D.C. 20549  

SCHEDULE 13G  

(Rule 13d-102)

 INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2

Under the Securities Exchange Act of 1934 
 (Amendment No. 2)

  PAYLESS CASHWAYS INC
----------------------------------------------------- 
(Name of Issuer)
COMMON STOCK
 -----------------------------------------------------
(Title of Class of Securities)

704378405 
----------------------------------------------------- 
(CUSIP Number)

Check the following box if a fee is  being paid with this statement [X].        

----------                                                                      
*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).                                                                         

SC 13G/A 2nd Page of 8 TOC 1st Previous Next ↓Bottom Just 2nd
CUSIP No.  704378405              13G                    Page 2 of 8  Pages     

--------------------------------------------------------------------------------
1.  NAME OF REPORTING PERSON(S)                                           
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)              

Morgan Stanley                                                    
IRS  # 39-314-5972                                                
--------------------------------------------------------------------------------
2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                     
                                                   (a)  [  ]
                                                   (b)  [  ]
--------------------------------------------------------------------------------
3.  SEC USE ONLY                                                          

--------------------------------------------------------------------------------
4.  CITIZENSHIP OR PLACE OF ORGANIZATION                                  

The state of organization is Delaware.                            
--------------------------------------------------------------------------------
NUMBER OF      5.   SOLE VOTING POWER                                     
SHARES            0                                                   
  BENEFICIALLY    --------------------------------------------------------------
OWNED BY      6.   SHARED VOTING POWER                                  
EACH             2,202,961                                          
   REPORTING      --------------------------------------------------------------
PERSON       7.   SOLE DISPOSITIVE POWER                              
WITH             0                                                  
                  --------------------------------------------------------------
8.   SHARED DISPOSITIVE POWER               
2,202,961                         
--------------------------------------------------------------------------------
9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON          

2,202,961                                                         
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*  

--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                      

11.01%                                                            
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*                                              

IA, CO                                                            
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! 

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CUSIP No. 704378405                 13G                    Page 3  of 8  Pages  

--------------------------------------------------------------------------------
1.  NAME OF REPORTING PERSON(S)                                           
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)              

Morgan Stanley & Co. Incorporated                                 
IRS # 13-265-5996                                                 
--------------------------------------------------------------------------------
2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                     
                                                   (a)  [  ]
                                                   (b)  [  ]
--------------------------------------------------------------------------------
3.  SEC USE ONLY                                                          

--------------------------------------------------------------------------------
4.  CITIZENSHIP OR PLACE OF ORGANIZATION                                  

The state of organization is Delaware.                            
--------------------------------------------------------------------------------
NUMBER OF      5.   SOLE VOTING POWER                                     
SHARES            0                                                   
  BENEFICIALLY    --------------------------------------------------------------
OWNED BY      6.   SHARED VOTING POWER                                  
EACH             2,202,961                                          
   REPORTING      --------------------------------------------------------------
PERSON       7.   SOLE DISPOSITIVE POWER                              
WITH             0                                                  
                  --------------------------------------------------------------
8.   SHARED DISPOSITIVE POWER               
2,202,961                         
--------------------------------------------------------------------------------
9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON          

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

--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                      

11.01%                                                            
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*                                              

BD, CO                                                            
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! 

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CUSIP No.  704378405                13G                   Page 4  of  8  Pages  

Item 1.     (a)   Name of Issuer:                                               
PAYLESS CASHWAYS INC                        
                  --------------------------------------------------------------
(b)   Address of Issuer's Principal Executive Offices:  
800 NW CHIPMAN ROAD                         
P O BOX 648001                              
LEES SUMMIT, MO 64064-8001                  
                  --------------------------------------------------------------
Item 2.     (a)   Name of Person Filing:                                        
(a) Morgan Stanley                          
(b) Morgan Stanley & Co. Incorporated       
                  --------------------------------------------------------------
          (b)   Address of Principal Business Office, or if None, Residence:
(a) 1585 Broadway                           
New York, New York 10036            

(b) 1585 Broadway                           
New York, New York 10036            
                  --------------------------------------------------------------
(c)   Citizenship:                                      
Incorporated by reference to Item 4 of the  
   cover page pertaining to each reporting person.
                  --------------------------------------------------------------
(d)   Title of Class of Securities:                     
Common Stock                                
                  --------------------------------------------------------------
(e)   CUSIP Number:                                     
704378405                                   
                  --------------------------------------------------------------

Item 3.     (a)   Morgan Stanley is a parent holding company.                   

(b)   Morgan Stanley & Co. Incorporated is a Broker     
        Dealer registered under section 15 of the Securities
Exchange Act of 1934.                       

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CUSIP No.  704378405               13-G                   Page 5  of  8  Pages  

Item 4.     Ownership.                                                          

       Incorporated by reference  to  Items  (5) - (9) and (11) of the
cover page.                                             

(a) Morgan Stanley is filing solely in its              
          capacity as the parent company of, and indirect beneficial
       owner of securities held by, one of its business units.

Item 5.     Ownership of Five Percent or Less of a Class.                       

Inapplicable                                            

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

         Accounts managed on a discretionary basis by Morgan Stanley & Co.
      Incorporated, a wholly owned subsidiary of Morgan Stanley, are
known to have the right to receive or the power         
      to direct the receipt of dividends from, or the proceeds from,
        the sale of such  securities.  No such account holds more than 5
percent of the class.                                   

See item 4 (a)                                          

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

Item 8.     Identification and Classification of Members of the Group.          

Item 9.     Notice of Dissolution of Group.                                     

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.                                 

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CUSIP No.  704378405                13-G                   Page 6 of  8  Pages  

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:       February 15, 2004                                                   

Signature:  /s/ Dennine Bullard                                                 
         -----------------------------------------------------------------

Name/Title  Dennine Bullard/ Vice President Morgan Stanley & Co. Incorporated   
         -----------------------------------------------------------------
MORGAN STANLEY                                          

Date:       February 15, 2004                                                   

Signature:  /s/ Dennine Bullard                                                 
         -----------------------------------------------------------------

Name/Title  Dennine Bullard/ Vice President Morgan Stanley & Co. Incorporated   
         -----------------------------------------------------------------
MORGAN STANLEY & CO. INCORPORATED                       

                  INDEX TO EXHIBITS                               PAGE
                  -----------------                               ----

EXHIBIT 1       Agreement to Make a Joint Filing                          7     

EXHIBIT 2       Secretary's Certificate Authorizing Dennine Bullard       8     
to Sign on behalf of Morgan Stanley             

* Attention. Intentional misstatements or omissions of fact constitute federal  
criminal violations (see 18 U.S.C. 1001).                                   

SC 13G/A 7th Page of 8 TOC 1st Previous Next ↓Bottom Just 7th
   EX-99
  JOINT FILING AGREEMENT

CUSIP No. 704378405                 13-G                  Page  7 of  8 Pages 

 EXHIBIT 1 TO SCHEDULE 13G
 ---------------------------------------------------

FEBRUARY 15, 2004 
 ---------------------------------------------------

   MORGAN STANLEY and MORGAN STANLEY & CO. INCORPORATED,

hereby agree that, unless differentiated, this    

     Schedule 13G is filed on behalf of each of the parties.

MORGAN STANLEY                                          

BY: /s/ Dennine Bullard                                 
            --------------------------------------------------------------------
         Dennine Bullard/ Vice President Morgan Stanley & Co. Incorporated

MORGAN STANLEY & CO. INCORPORATED                       

BY: /s/ Dennine Bullard                                 
            --------------------------------------------------------------------
         Dennine Bullard/ Vice President Morgan Stanley & Co. Incorporated

* Attention. Intentional misstatements or omissions of fact constitute federal  
criminal violations (see 18 U.S.C. 1001).                                   

SC 13G/A Last Page of 8 TOC 1st Previous Next ↓Bottom Just 8th
EX-99.1     
SECRETARY'S CERTIFICATE       

CUSIP No.  704378405                                      Page  8 of  8 Pages 
EXHIBIT 2   

MORGAN STANLEY

SECRETARY'S CERTIFICATE   

I, Charlene R. Herzer, a duly elected and Assistant Secretary 
of Morgan Stanley, a corporation organized and                
existing under the laws of the State of Delaware (the         
"Corporation"), certify as follows:                           

     (1) Donald G. Kempf, Jr. is the duly elected Executive Vice
     President, Chief Legal Officer and Secretary of the
Corporation;                                  

       (2) Pursuant to Section 7.01 of the Bylaws of the Corporation
           and resolutions approved by the Board of Directors of the
           Corporation on September 25,1998, the Chief Legal Officer
              is authorized to enter into agreements and other instruments
           on behalf of the Corporation and may delegate such powers
to others under his jurisdiction; and         

    (3) Donald G. Kempf signed a Delegation of Authority as of
        February 23, 2000, which authorized Dennine Bullard to
         sign reports to be filed under Section 13 and 16 of the
  Securities Exchange Act of 1934 on behalf of the
       Corporation.  Such authorization is in full force and
efect as of this date.                        

        IN WITNESS WHEREOF, I have hereunto set my name and affixed the seal
of the Corporation as of the 5th day of February, 2003.     

                                              ______________________________
                                  Charlene R. Herzer
                                   Assistant Secretary

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘SC 13G/A’ Filing	Date	First	Last	Other Filings

Filed on:	2/17/04			13F-HR, SC 13G, SC 13G/A
	2/15/04	6	7
	2/23/00	8		424B3, DEF 14A
				List all Filings

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Filing Submission 0000895421-04-000070 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Morgan Stanley – ‘SC 13G/A’ on 2/17/04 re: Payless Cashways Inc

On: Tuesday, 2/17/04, at 2:41pm ET · Accession #: 895421-4-70 · File #: 5-02839

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Amendment to Statement of Beneficial Ownership — Schedule 13GFiling Table of Contents

Document Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Amendment to Statement of Beneficial Ownership — Schedule 13G
Filing Table of Contents