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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. 20)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
Chris-Craft Industries, Inc.
(Name of Issuer)
$1.40 Cumulative Convertible Preferred Stock, par value
$1.00 per share; Class B Common Stock, par value
$.50 per share; and Common Stock, par value $.50 per share
(Title of Class of Securities)
170520-30-8; 170520-50-6 and 170520-10-0
(CUSIP Number)
________________________________________
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.
(Continued on following pages)
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CUSIP No. 170520-30-8, 13G Page 2 of 6 Pages
170520-50-6, and
170520-10-0,
1) Name of Reporting Person: Lawrence R. Barnett
SS or IRS Identification No. of Above Person:
2) Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) / /
(b) / /
3) SEC Use Only ........................................
4) Citizenship or Place of Organization: United States
of America
5) Sole Voting Power: 50,654 shares of
$1.40 Convertible Preferred Stock,
Number of 1,483,456 shares of Class B Common Stock
Shares Bene- and 2,087,072 shares of Common Stock
ficially of Common Stock
Owned by 6) Shared Voting Power: None
Each Reporting 7) Sole Dispositive Power: 50,654 shares
Person with of $1.40 Convertible Preferred Stock,
1,483,456 shares of Class B Common
Stock, and 2,087,072 shares of Common
Stock
8) Shared Dispositive Power: None
9) Aggregate Amount Beneficially Owned by Each Reporting
Person: 50,654 shares of $1.40 Convertible Preferred
Stock, 1,483,456 shares of Class B Common
Stock, and 2,087,072 shares of Common Stock
10) Check Box if the Aggregate Amount in Row 9 Excludes
Certain Shares (See Instructions) ....................
11) Percent of Class Represented by Amount in Row 9:
21.5% of $1.40 Convertible Preferred Stock, 16.0%
of Class B Common Stock, and 7.8% of Common Stock
12) Type of Reporting Person (See Instructions):
IN
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Item 1(a). Name of Issuer:
Chris-Craft Industries, Inc. ("Chris-
Craft")
Item 1(b). Address of Issuer's Principal Executive
Offices:
767 Fifth Avenue
New York, New York 10153
Item 2(a). Name of Person Filing:
Lawrence R. Barnett
Item 2(b). Address of Principal Business Office or, if
none,
Residence:
Chris-Craft Industries, Inc.
767 Fifth Avenue
New York, New York 10153
Item 2(c). Citizenship:
United States of America
Item 2(d). Title of Class of Securities:
I
Convertible Preferred Stock, $1.40 cumulative
dividend, $1.00 par value, each share held on
November 10, 1986 and either not subsequently
transferred or transferred to a "Permitted
Transferee" currently convertible into
11.28894 shares of Class B Common Stock and
22.57786 shares of Common Stock and each other
share of $1.40 Convertible Preferred Stock
currently convertible into 33.86680 shares of
Common Stock ("$1.40 Convertible Preferred
Stock")
II
Class B Common Stock, $.50 par value, each
share convertible into one share of Common
Stock ("Class B Common Stock")
III
Common Stock, $.50 par value ("Common Stock")
Item 2(e). CUSIP Number:
I ($1.40 Convertible Preferred Stock) --
170520-30-8
II (Class B Common Stock) -- 170520-50-6
III (Common Stock) -- 170520-10-0
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Item 3. If this statement is filed pursuant to Rules
13d-1(b), or 13d-2(b), check whether the
person is a: Inapplicable.
Item 4. Ownership.
<TABLE>
<CAPTION>
I II III
$1.40
Convert-
ible Class B
Preferred Common Common
Stock Stock Stock
<S> <C> <C> <C>
(a) Amount
Beneficially
Owned: 50,654 1,483,456(1) 2,087,072(2)
(b) Percent of Class
(outstanding at
December 31, 1998) (3) 21.5% 16.0% 7.8%
(c) Number of shares as
to which such person
has:
(i) sole power to
vote or to direct
the vote 50,654 1,483,456 2,087,072
(ii) shared power to
vote or to direct
the vote -- -- --
(iii) sole power to
dispose or to direct
the disposition of 50,654 1,483,456 2,087,072
(iv) shared power to
dispose or to di-
rect the disposi-
tion of -- -- --
<FN>
_____________________
(1) Includes 1,143,658 shares issuable upon conversion of
$1.40 Convertible Preferred Stock.
(2) Includes 28,130 shares issuable upon exercise of stock
options exercisable within 60 days after December 31,
1998 and 2,055,285 shares issuable upon conversion of
(i) $1.40 Convertible Preferred Stock and (ii) Class B
Common Stock, including Class B Common Stock issuable
upon conversion of $1.40 Convertible Preferred Stock.
(3) Class B Common Stock percentage computed on basis of
number of shares of Class B Common Stock outstanding at
December 31, 1998 plus those issuable upon conversion
of $1.40 Convertible Preferred Stock shown in Column I.
Common Stock percentage computed on basis of number of
shares of Common Stock outstanding at December 31, 1998
plus those issuable upon (i) conversion of $1.40
Convertible Preferred Stock shown in Column I,
(ii) conversion of Class B Common Stock shown in Column
II, and (iii) exercise of stock options referred to in
Note (3).
</TABLE>
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:
Item 7. Identification and Classification of the Subsid-
iary Which Acquired the Security Being Reported on
By the Parent Holding Company:
Inapplicable.
Item 8. Identification and Classification of Members of
the Group:
Inapplicable.
Item 9. Notice of Dissolution of Group:
Inapplicable.
Item 10. Certification:
Inapplicable.
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Signature
After reasonable inquiry and to the best of my knowl-
edge and belief, I certify that the information set forth in
this statement is true, complete and correct.
Date: February 10, 1999
/s/ Lawrence R. Barnett
- ------------------------
Signature
Lawrence R. Barnett
Name/Title
