FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
INITIAL STATEMENT OF |_____________________|
BENEFICIAL OWNERSHIP OF SECURITIES |OMB NUMBER: 3235-0104|
|EXPIRES: |
| SEPTEMBER 30, 1998 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE 0.5 |
Holding Company Act of 1935 |_____________________|
or Section 30(f) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person
Abrams Partners, L.P.
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(Last) (First) (Middle)
3770 Paces Ferry Road
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(Street)
Atlanta Georgia 30327
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
December 15, 1997
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3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
-----
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4. Issuer Name and Ticker or Trading Symbol
Abrams Industries, Inc. (NASDAQ - ABRI)
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5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
( ) DIRECTOR
(XX) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
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6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
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7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
X FORM FILED BY ONE REPORTING PERSON
<PAGE>
FORM FILED BY MORE THAN ONE REPORTING PERSON
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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|1. TITLE OF SECURITY|2. AMOUNT OF |3. OWNERSHIP |4. NATURE OF INDIRECT |
| (INSTR. 4) | SECURITIES | FORM DIRECT| BENEFICIAL OWNERSHIP|
| | BENEFICIALLY | DIRECT (D) | (INSTR. 5) |
| | OWNED | OR INDIRECT| |
| | (INSTR. 4) | (I) (INSTR.| |
| | | 5) | |
|____________________|_______________ |______________|_______________________|
| | | | |
| Common Stock | 500,000 (17.0%)| (D) | -- |
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 4)
N/A
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2. Date Exercisable and Expiration Date (Month/Day/Year)
N/A
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3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
N/A
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4. Conversion or Exercise Price of Derivative Security
--
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5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
N/A
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6. Nature of Indirect Beneficial Ownership (Instr. 5)
N/A
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EXPLANATION OF RESPONSES:
On December 15, 1997, Abrams Partners, L.P. (the "Partnership")
received 500,000 shares of Common Stock from its limited partners,
Edward M. Abrams, Alan R. Abrams and James Andrew Abrams, Alan R.
Abrams, as custodian for Sarah Ann Abrams, Alan R. Abrams as custodian
for Daniel Martin Abrams, and Alan R. Abrams as custodian for Patrick
Uhry Abrams, in exchange for limited partnership interests in the
Partnership. The only assets of the Partnership are 500,000 shares of
the Common Stock of the issuer, Abrams Industries, Inc., collectively
contributed by the limited partners of the Partnership and $5,000 cash
contributed by the general partner. The general partner of the
Partnership is Abrams Management Company, a Georgia limited liability
company ("Abrams Management"), of which Edward M. Abrams, Alan R. Abrams,
and James Andrew Abrams are the members, holding interests of 40%, 30%,
and 30%, respectively. At December 15, 1997, Abrams Management L.L.C.
held a 0.12% interest in the Partnership. The Partnership is deemed
to be the direct beneficial owner of 17.0%, or 500,000 shares, of the
Common Stock of the issuer.
/s/ Edward M. Abrams
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By: Edward M. Abrams, as a Member of
Abrams Management Company, LLC,
the General Partner of Abram
Partners, L.P. 6-15-98
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** SIGNATURE OF REPORTING PERSON DATE
_____________________________
** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS.
SEE 18 U.S.C. 1001 AND 15 U.S.C. 78FF(A).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
