SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
(Amendment No. 16)
CRANE CO.
(Name of Issuer)
Common Stock, $1.00 Par Value
(Title of Class of Securities)
224399-10-5
(CUSIP Number)
Check the following box if a fee is being paid with
this statement / /.
The information contained 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.
CUSIP No. 224399-10-5.
1. Names of Reporting Persons
S.S. or IRS.
Identification Nos.
of above persons: The Crane Fund
I.R.S. No. 16-6124341
2. Check the Appropriate Box if a Member of a Group
(a)
(b)
3. SEC Use Only
4. Citizenship or Place of Organization: Illinois
Charitable Trust
Number of Shares Beneficially Owned by Each
Reporting Person With
5. Sole Voting Power: 5,185,611
6. Shared Voting Power: -0-
7. Sole Dispositive Power: 5,185,611
8. Shared Dispositive Power:-0-
9. Aggregate Amount Beneficially Owned by Each
Reporting Person: 5,185,611
10. Check if the aggregate amount in Row 9 excludes
certain shares:
11. Percent of Class represented by amount in Row 9:
11.4%
12. Type of Reporting Person: 00
Item 1(a). Name of Issuer: Crane Co.
Item 1(b). Address of Issuer's Principal Executive
Offices: 100 First Stamford Place
Stamford, CT 06902
Item 2(a). Name of Person Filing: The Crane Fund
Item 2(b). Address of Principal Business Office or,
if none, Residence: 140 Sylvan Avenue,
Suite 4, Englewood Cliffs, NJ 07632
Item 2(c). Citizenship: Illinois Charitable Trust
Item 2(d). Title of Class of Securities: Common
Stock, $1.00 Par Value.
Item 3. Not Applicable.
Item 4. Ownership:
As of December 31, 1997, The Crane Fund
owned 5,185,611 shares (11.4%) of the
outstanding Common Stock, par value
$1.00 of Crane Co. The Crane Fund is a
charitable trust managed by five
trustees appointed by the Board of
Directors of Crane Co. The present
trustees of The Crane Fund are G. A.
Dickoff, A. I. duPont. R. B. Phillips,
M. L. Raithel and D. S. Smith, all of
whom are officers of Crane. Pursuant to
the trust instrument, the Shares held by
such trust shall be voted by the
trustees as directed by the Board of
Directors of Crane, the distribution of
the income of the trust for its
charitable purposes is subject to the
control of such Board of Directors, and
the Shares may be sold by the trustees
only upon the direction of such Board of
Directors action by a two-thirds vote.
None of the trustees has any direct
beneficial interest in, and all disclaim
beneficial ownership of, Shares held by
The Crane Fund.
Item 5. Ownership of Five Percent or Less of a
Class: Not 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: 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: Not Applicable
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.
February 12, 1998
/s/A. I. duPont
A. I. duPont
Trustee
