UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
_____________________________________________________________
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 9)
CORNING INCORPORATED
(Name of Issuer)
Common Shares, Par Value $.50 Per Share
(Title of Class of Securities)
219350-10-5
(CUSIP Number)
A. John Peck, Jr., Esq.
Corning Incorporated
One Riverfront Plaza
Corning, NY 14831
Telephone: (607) 974-8246
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
Check the following box if a fee is being paid with
this statement __.
Item 1
(a) Name of Issuer:
Corning Incorporated
(b) Address of Issuer's Principal Executive Offices: One
Riverfront Plaza, Corning, New York 14831
Item 2
(a) Name of Person Filing:
The Investment Plan and the Investment Plan for
Unionized Hourly Employees of Corning Incorporated
and certain affiliated companies (the "Plans")
(b) Address of Principal Business Office:
One Riverfront Plaza, Corning, New York 14831
(c) Citizenship:
Not applicable
(d) Title of Class of Securities:
Common Shares, par value $.50 per share
(e) CUSIP Number:
219350 10 5
Item 3
(a) The Plans are defined contribution plans which are
subject to the provisions of the Employee Retirement
Income Security Act of 1974
Item 4 Ownership
(a) Amount Beneficially Owned:
The equivalent of 12,226,978 Common shares at
December 31, 1997, being 11,434,966 shares of Common
Stock and 198,003 shares of Series B 8% Convertible
Preferred Stock. Each share of Common Stock is
entitled to one vote and each share of Preferred Stock
is entitled to four votes.
b) Percent of Class:
4.94% - Common
100% - Series B Preferred
5.27% - Overall Voting Percent
c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote:
None
(ii) shared power to vote or to direct the vote:
None
(iii) sole power to dispose or to direct the
disposition of:
None
(iv) shared power to dispose or to direct the
disposition of:
None
Under the provisions of the Plans and the related
trust agreement, the power to vote the Common and
Series B Preferred shares and the power to respond to
tender offers or other offers to sell such shares is
passed through to the participants in the Plans.
Only the Trustee of the Plans may be the record owner
of the Series B Preferred shares. Each share of
Series B Preferred Stock, $100 par value, is
convertible into 4.79 Common shares at a conversion
price of $25 per share. Holders of the Series B
Preferred shares are entitled to vote on all matters
submitted to holders of Common stock, each share of
Series B having four votes.
Item 5 Ownership of Five Percent or Less of a Class
The Investment Plans owned 4.83% of the voting interest
of the Common Stock at December 31, 1996. The voting
percentage at December 31, 1996 was 5.27%.
Item 6 Ownership of More Than Five Percent on Behalf of
Another Person
The Plans hold these securities on behalf of the
employees who are participants in the Plans.
Dividends are reinvested and are not currently
distributed to participants. Common dividends are
reinvested in Common shares. Preferred dividends are
reinvested in fixed income instruments. Beneficiaries
of the Plans have the right to receive securities
and/or proceeds from the sale of the securities
allocated to their respective accounts in the manner
and at the time specified in the Plans. No individual
beneficiary's account under the Plans has been
allocated more than five percent of the issuer's
outstanding Common shares.
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
By signing below the undersigned certifies that, to
the best of its knowledge and belief, the securities
referred to below 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
purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of the
undersigned's knowledge and belief, the undersigned certifies
that the information set forth in this statement is true,
complete and correct.
CORNING INCORPORATED, on behalf
of its Investment Plan and
Investment Plan for Unionized
Hourly Employees
Date: February 9, 1998 By: /s/ A. JOHN PECK, JR.
Name: A. John Peck, Jr.
Title: Secretary
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