ALABAMA INVESTOR UPS PENOBSCOT SHOE <PSO> STAKE Donaldson Bramham Lee, an investor from Birmingham, Alabama, said he raised his stake in Penobscot Shoe Co to 40,500 shares, or 6.6 pct of the total outstanding common stock, from 33,500 shares, or 5.5 pct. In a filing with the Securities and Exchange Commission, Lee said he bought 7,000 Penobscot common shares between Feb 12 and March 2 at prices ranging from 13.75 to 16.25 dlrs a share. Lee has said he bought the Penobscot stock for investment purposes only and has no plans to seek control of the company, although he may buy more stock.