Steinberg Concern Holds 2% Stake in UAL:...

Steinberg Concern Holds 2% Stake in UAL: New York investor Saul P. Steinberg, once a major holder of the stock of UAL Corp., has again bought into the parent company of United Airlines, according to documents. A subsidiary of a Steinberg family-controlled concern, Reliance Group Holdings Inc., disclosed in a filing with the Securities and Exchange Commission that it has purchased 451,000 shares of UAL common stock. The filing, covering the quarter ending Sept. 30, disclosed that the subsidiary--Reliance Financial Services Corp.--paid more than $43.9 million for the shares. But the document is not required disclose exactly where or when the purchases were made. “As a policy, we don’t comment on our investment,” said Brian Martin, a spokesman for New York-based Reliance. In Chicago, UAL spokesman Joe Hopkins also declined to comment.