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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
(Amendment No. 1 )*
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Corning, Inc.
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(Name of Issuer)
Limited Partnership Monthly Income Convertible Preferred Stock
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(Title of Class of Securities)
219319209
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(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
disclosures provided in a prior cover page.
The information required on 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).
(Continued on following page(s))
Page 1 of 8 Pages
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CUSIP No. 219319209 13G Page 2 of 8 Pages
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The TCW Group, Inc.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada corporation
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NUMBER OF SHARES (5) SOLE VOTING POWER
BENEFICIALLY 371,000
OWNED BY --------------------------------------------------
EACH REPORTING (6) SHARED VOTING POWER
PERSON WITH -0-
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(7) SOLE DISPOSITIVE POWER
371,000
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(8) SHARED DISPOSITIVE POWER
-0-
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
371,000
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.9% (see response to Item 4)
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(12) TYPE OF REPORTING PERSON*
HC/CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 219319209 13G Page 3 of 8 Pages
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert Day
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States Citizen
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NUMBER OF SHARES (5) SOLE VOTING POWER
BENEFICIALLY 371,000
OWNED BY --------------------------------------------------
EACH REPORTING (6) SHARED VOTING POWER
PERSON WITH -0-
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(7) SOLE DISPOSITIVE POWER
371,000
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(8) SHARED DISPOSITIVE POWER
-0-
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
371,000
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.9% (see response to Item 4)
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(12) TYPE OF REPORTING PERSON*7
HC/IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Page 4 of 8 Pages
Item 1(a). Name of Issuer:
Corning, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
One Riverfront Plaza
Corning, NY 14831
Item 2(a). Name of Persons Filing:
Item 2(b). Address of Principal Business Office:
Item 2(c). Citizenship:
The TCW Group, Inc.
865 South Figueroa Street
Los Angeles, CA 90017
(Nevada Corporation)
Robert Day
200 Park Avenue, Suite 2200
New York, New York 10166
(United States Citizen)
Item 2(d). Title of Class of Securities:
Limited Partnership Monthly Income Convertible
Preferred Stock
Item 2(e). CUSIP Number:
219319209
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Page 5 of 8 Pages
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the Act:
Not applicable
(b) [ ] Bank as defined in Section 3(a)(6) of the Act:
Not applicable
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act:
Not applicable
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act:
Not applicable
(e) [ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940:
Not applicable
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund (SEE 13d-1(b)(1)(ii)(F)):
Not applicable
(g) [X] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G) (SEE Item 7):
The TCW Group, Inc.
Robert Day (individual who may be deemed to control The
TCW Group, Inc. and other holders of the Limited
Partnership Monthly Income Convertible Preferred
Stock of the issuer)
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H):
Not applicable.
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Item 4. Ownership **
THE TCW GROUP, INC.
(a) Amount beneficially owned: 371,000
(b) Percent of class: 4.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 371,000
(ii) Shared power to vote or to direct the vote: none.
(iii) Sole power to dispose or direct the disposition of:
371,000
(iv) Shared power to dispose or to direct the disposition
of: none.
ROBERT DAY
(a) Amount beneficially owned: 371,000
(b) Percent of class: 4.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 371,000
(ii) Shared power to vote or to direct the vote: none.
(iii) Sole power to dispose or direct the disposition of:
371,000
(iv) Shared power to dispose or to direct the disposition
of: none.
______________________________
** The filing of this Schedule 13G shall not be construed as an admission that
the reporting person or any of its affiliates is, for the purposes of Section
13(d) or 13(g) of the Securities Exchange Act of 1934, the beneficial owner of
any securities covered by this Schedule 13G. In addition, the filing of this
Schedule 13G shall not be construed as an admission that the reporting person or
any of its affiliates is the beneficial owner of any securities covered by this
Schedule 13G for any other purposes than Section 13(d) of the Securities
Exchange Act of 1934.
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Page 7 of 8 Pages
Item 5. Ownership of Five Percent or Less of a Class.
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.
SEE Exhibit A.
Item 8. Identification and Classification of Members of the Group.
Not applicable. SEE Exhibits A and B.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Because this statement is filed pursuant to Rule 13d-1(b), the
following certification is included:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer
of such securities and were not acquired in connection with or as a
participant in any transaction having such purpose or effect.
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Page 8 of 8 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated this 10th day of March, 1997.
The TCW Group, Inc.
By: /s/ Mohan V. Phansalkar
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Mohan V. Phansalkar
Authorized Signatory
Robert Day
By: /s/ Mohan V. Phansalkar
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Mohan V. Phansalkar
Under Power of Attorney dated January 30,
1996, on File with Schedule 13G Amendment
Number 1 for Matrix Service Co. dated January
30, 1996.
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EXHIBIT A
RELEVANT SUBSIDIARIES OF PARENT HOLDING COMPANY
PART A: TCW ENTITIES
PARENT HOLDING COMPANY:
The TCW Group, Inc.
Robert Day (an individual who may be deemed to control The TCW Group,
Inc.)
RELEVANT SUBSIDIARIES THAT ARE PERSONS DESCRIBED IN RULE 13d-1(b):
(i) Trust Company of the West, a California corporation and a bank as
defined in Section 3(a)(6) of the Securities Exchange Act of 1934.
(ii) TCW Asset Management Company, a California corporation and an
Investment Adviser registered under Section 203 of the Investment Advisers
Act of 1940.
(iii) TCW Funds Management, Inc., a California corporation and an
Investment Adviser registered under Section 203 of the Investment Advisers
Act of 1940.
Note: No Monthly Income Convertible Preferred Stock of Corning, Inc. is held
directly by The TCW Group, Inc. Other than the indirect holdings of
The TCW Group, Inc. no Monthly Income Convertible Preferred Stock of
Corning, Inc. is held directly or indirectly by Robert Day, an
individual who may be deemed to control The TCW Group, Inc.
PART B: NON TCW ENTITIES
PARENT HOLDING COMPANY:
Robert Day (an individual who may be deemed to control the holders
described below which are not subsidiaries of The TCW Group, Inc.)
RELEVANT SUBSIDIARIES THAT ARE PERSONS DESCRIBED IN RULE 13d-1(b):
Oakmont Corporation, a California corporation and an Investment
Adviser registered under Section 203 of the Investment Advisers Act of
1940.
Cypress International Partners Limited, a British Virgin Islands
corporation and an Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940.
A-1
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EXHIBIT B
JOINT FILING AGREEMENT
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other, except to the extent that he or it knows or has reason to
believe that such information is accurate.
Dated: March 10, 1997
The TCW Group, Inc.
By: /s/ Mohan V. Phansalkar
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Mohan V. Phansalkar
Authorized Signatory
Robert Day
By: /s/ Mohan V. Phansalkar
--------------------------
Mohan V. Phansalkar
Under Power of Attorney dated January 30,
1996, on File with Schedule 13G Amendment
Number 1 for Matrix Service Co. dated January
30, 1996.
B-1
