UNITED STATES
                           SECURITIES AND EXCHANGE COMMISSION
                                 WASHINGTON, D.C. 20549

                                      SCHEDULE 13G

                       Under the Securities Exchange Act of 1934
                                   (Amendment No. 1)


                             The Boston Beer Company, Inc.
                                    (Name of Issuer)

                                  Class A Common Stock
                             (Title of Class of Securities)

                                       100557-10-7    
                                     (CUSIP Number)


             *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).




















                                          -1-
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                   Page 2 of 17



       1   Name Of Reporting Person H&Q LONDON VENTURES

           IRS Identification No. Of Above Person                    94-2966540

       2   Check The Appropriate Box If A Member Of A Group           (a) [ ]  

                                                                      (b) [x]  
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                          England

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             PN
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                   Page 3 of 17



       1   Name Of Reporting Person H&Q VENTURES INTERNATIONAL C.V.

           IRS Identification No. Of Above Person                    98-0059340

       2   Check The Appropriate Box If A Member Of A Group           (a)  [ ] 

                                                                      (b)  [x] 
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                   Netherlands Antilles

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             PN
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                   Page 4 of 17



       1   Name Of Reporting Person HAMQUIST

           IRS Identification No. Of Above Person                    94-2800484

       2   Check The Appropriate Box If A Member Of A Group           (a)  [ ] 

                                                                      (b)  [x] 
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                        California

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                   Page 5 of 17



       1   Name Of Reporting Person H&Q INVESTORS

           IRS Identification No. Of Above Person                    94-2917768

       2   Check The Appropriate Box If A Member Of A Group           (a)  [ ] 

                                                                      (b)  [x] 
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                        California

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             PN
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                   Page 6 of 17



       1   Name Of Reporting Person H&Q VENTURES IV

           IRS Identification No. Of Above Person                    94-2940347

       2   Check The Appropriate Box If A Member Of A Group           (a)  [ ] 

                                                                      (b)  [x] 
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                        California

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             PN
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                   Page 7 of 17



       1   Name Of Reporting Person HAMCO CAPITAL CORPORATION

           IRS Identification No. Of Above Person                    94-2731560

       2   Check The Appropriate Box If A Member Of A Group           (a) [ ]  

                                                                      (b) [x]  
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                        California

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             CO
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                   Page 8 of 17



       1   Name Of Reporting Person HAMBRECHT & QUIST VENTURE PARTNERS

           IRS Identification No. Of Above Person                    94-2949080

       2   Check The Appropriate Box If A Member Of A Group           (a)  [ ] 

                                                                      (b)  [x] 
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                        California

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             PN
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                   Page 9 of 17



       1   Name Of Reporting Person HAMBRECHT & QUIST CALIFORNIA

           IRS Identification No. Of Above Person                    94-2856927

       2   Check The Appropriate Box If A Member Of A Group           (a)  [ ] 

                                                                      (b)  [x] 
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                        California

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             CO
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                  Page 10 of 17



       1   Name Of Reporting Person HAMBRECHT & QUIST GROUP

           IRS Identification No. Of Above Person                    94-3246636

       2   Check The Appropriate Box If A Member Of A Group           (a)  [ ] 

                                                                      (b)  [x] 
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                         Delaware

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             CO
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                  Page 11 of 17



       1   Name Of Reporting Person WILLIAM R. HAMBRECHT

           IRS Identification No. Of Above Person                   119-26-1941

       2   Check The Appropriate Box If A Member Of A Group           (a)  [ ] 

                                                                      (b)  [x] 
       3   SEC USE ONLY



       4   Citizenship Or Place Of Organization 

                                       United States

                          5    Sole Voting Power

                                                     -0-
         NUMBER OF
                          6    Shared Voting Power           SHARES
        BENEFICIALLY
                                                  1,457,565       OWNED BY EACH
         REPORTING
                          7    Sole Dispositive Power        PERSON WITH

                                                     -0-
                          8    Shared Dispositive Power

                                                  1,457,565

        9   Aggregate Amount Beneficially Owned By Each Reporting Person

                                         1,457,565

       10   Check Box If The Aggregate Amount In Row (9) Excludes
            Certain Shares*                                               [ ]  


       11   Percent Of Class Represented By Amount In Row 9

                                            9.1%
       12   Type Of Reporting Person*

                                             IN
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                  Page 12 of 17


             Item 1(a).     Name of Issuer.

                       The Boston Beer Company, Inc. (the "Issuer").

             Item 1(b).     Address of Issuer's Principal Executive
                            Offices.

                       75 Arlington Street, 5th Floor, Boston, MA  02116.

             Item 2(a).     Names of Persons Filing.

                       Reference is made to Item 1 of each of the cover
             pages of this Schedule, which Items are incorporated by
             reference herein.

             Item 2(b).     Address of Principal Business Office or, if
                            none, Residence.

                       The address of each reporting person is One Bush
             Street, San Francisco, California 94104.

             Item 2(c).     Citizenship.

                       Reference is made to Item 4 of each of the cover
             pages of this Schedule, which Items are incorporated by
             reference herein.

             Item 2(d).     Title of Class of Securities.

                       Class A Common Stock ("Common Stock").

             Item 2(e).     CUSIP Number.

                       100557-10-7

             Item 3.   Type of Reporting Person.

                       Not applicable.

             Item 4.   Ownership.

                       Reference is made to Items 5-9 and 11 of each of
             the cover pages to this Schedule, which Items are
             incorporated by reference herein.  According to information
             furnished to the reporting persons by the Issuer, there were
             15,972,058 shares of Common Stock issued and outstanding as
             of December 31, 1996.  At December 31, 1996, the following
             shares of Common Stock were held directly by the following
             persons:
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                  Page 13 of 17


                                                 Common Stock
                  Person                        Directly Owned

                  H&Q London Ventures                608,306

                  H&Q Ventures International C.V.    130,146

                  Hamquist                            39,705

                  H&Q Investors                       19,854

                  H&Q Ventures IV                    130,146

                  Hamco Capital Corporation          441,174

                  Hambrecht & Quist Group             88,234
                                                   _________

                  TOTAL                            1,457,565
                                                   =========


                       Because voting and investment decisions concerning
             the above securities may be made by or in conjunction with
             Hambrecht & Quist Venture Partners, Hambrecht & Quist
             California, Hambrecht & Quist Group and William R. Hambrecht,
             each of the reporting persons may be deemed a member of a
             group that shares voting and dispositive power over all of
             the above securities.  Although the reporting persons are
             reporting such securities as if they were members of a group,
             the filing of this Schedule shall not be construed as an
             admission by any reporting person that it is a beneficial
             owner of any securities other than those directly held by
             such reporting person.

                       Under the definition of "beneficial ownership" in
             Rule 13d-3 under the Securities Exchange Act of 1934, it is
             also possible that the individual general partners of
             Hambrecht & Quist Venture Partners and/or the directors and
             executive officers of Hambrecht & Quist California or
             Hambrecht & Quist Group might be deemed the "beneficial
             owners" of some or all of the securities to which this
             Schedule relates in that they might be deemed to share the
             power to direct the voting or disposition of such securities. 
             Neither the filing of this Schedule nor any of its contents
             shall be deemed to constitute an admission that any of such
             individuals is, for any purpose, the beneficial owner of any
             of the securities to which this Schedule relates, and such
             beneficial ownership is expressly disclaimed.
<PAGE>






     CUSIP No. 100557-10-7           SCHEDULE 13G                  Page 14 of 17


                       This Schedule does not include shares of Common
             Stock, if any, held by Hambrecht & Quist LLC in its trading
             account if it is a market maker in the Issuer's Common Stock.

             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.

                       Not applicable.

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

                       Not applicable.

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

                       Not applicable.

             Item 9.   Notice of Dissolution of Group.

                       Not applicable.

             Item 10.  Certification.

                       Not applicable.
<PAGE>





     CUSIP No. 100557-10-7           SCHEDULE 13G                  Page 15 of 17


                                        Signature

                       After reasonable inquiry and to the best of their
             knowledge and belief, the undersigned certify that the
             information set forth in this statement is true, complete and
             correct.

             DATED:  February 12, 1997.

             H&Q LONDON VENTURES             HAMCO CAPITAL CORPORATION


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact


             H&Q VENTURES INTERNATIONAL,     HAMBRECHT & QUIST VENTURE
             C.V.                            PARTNERS


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact


             HAMQUIST                        HAMBRECHT & QUIST CALIFORNIA


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact


             H&Q INVESTORS                   HAMBRECHT & QUIST GROUP


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact


             H&Q VENTURES IV                 WILLIAM R. HAMBRECHT


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact
<PAGE>





     CUSIP No. 100557-10-7           SCHEDULE 13G                  Page 16 of 17


                                      EXHIBIT INDEX



             Exhibit A      Joint Filing Undertaking           Page 17
<PAGE>



     CUSIP No. 100557-10-7           SCHEDULE 13G                  Page 17 of 17


                                JOINT FILING UNDERTAKING

                       The undersigned, being authorized thereunto, hereby
             execute this agreement as an exhibit to this Schedule 13G to
             evidence the agreement of the below-named parties, in
             accordance with rules promulgated pursuant to the Securities
             Exchange Act of 1934, to file this Schedule 13G and any
             subsequent amendment jointly on behalf of each of such
             parties.

             DATED:  February 12, 1997.

             H&Q LONDON VENTURES             HAMCO CAPITAL CORPORATION


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact


             H&Q VENTURES INTERNATIONAL,     HAMBRECHT & QUIST VENTURE
             C.V.                            PARTNERS


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact


             HAMQUIST                        HAMBRECHT & QUIST CALIFORNIA


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact


             H&Q INVESTORS                   HAMBRECHT & QUIST GROUP


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact


             H&Q VENTURES IV                 WILLIAM R. HAMBRECHT


             By:/s/ Jackie A. Berterretche   By:/s/ Jackie A. Berterretche
                 __________________________     ___________________________
                Jackie A. Berterretche          Jackie A. Berterretche
                Attorney-in-Fact                Attorney-in-Fact
<PAGE>