SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)
THE HALLWOOD GROUP INCORPORATED
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
406364 307
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(CUSIP Number)
Cathleen M. Osborn
Vice President and General Counsel
Hallwood Energy Corporation
4582 S. Ulster Street Parkway, Suite 1700, Denver, Colorado 80237
(303) 850-7373
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
July 17, 1995
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on
Schedule 13G to report the acquisition which is the subject of
this Schedule 13D, and is filing this schedule because of Rule
13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with this
statement [ ]. (A fee is not required only if the reporting
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of less than
five percent of such class. See Rule 13d-7.)
Page 1 of 5 Pages
CUSIP NO. 406364 307
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1) Names of Reporting Persons S.S. or I.R.S. Identification
Nos. of Above Persons
Hallwood Energy Corporation
I.R.S. Identification No. 75-1319083
___________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See
Instructions)
(a) [ ]
(b) [ ]
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(3) SEC Use Only
___________________________________________________________________
(4) Source of Funds (See Instructions) WC
___________________________________________________________________
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [ ]
___________________________________________________________________
(6) Citizenship or Place of Organization Texas
___________________________________________________________________
Number of (7) Sole Voting Power 258,809 Shares
Shares Bene- ____________________________________________________
ficially (8) Shared Voting Power 0
Owned by ____________________________________________________
Each Report- (9) Sole Dispositive Power 258,809 Shares
ing Person ____________________________________________________
With (10) Shared Dispositive Power 0
___________________________________________________________________
(11) Aggregate Amount Beneficially Owned by Each Reporting
Person 258,809 Shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) [ ]
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(13) Percent of Class Represented by Amount in Row (11) 16.2%
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(14) Type of Reporting Person (See Instructions) CO
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Item 3. Source and Amount of Funds or Other Consideration
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As of July 17, 1995, HEC holds 258,809 Shares in its own name.
Since February 1992, HEC has owned 224,000 Shares (as adjusted
for a 4 for 1 reverse split). HEC purchased an additional 34,809
Shares on and after April 21, 1995. The source of all funds for all
purchases was HEC's working capital.
Item 5. Interest in Securities of the Issuer.
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HEC directly owns 258,809 Shares, or 16.2% of the outstanding
Shares; HEC has sole power to vote and dispose of the 258,809 Shares.
The directors of HEC listed in response to Item 2 in the original
filing and Amendment No. 1 may be deemed to share beneficial
ownership of the Shares. Alpha Trust beneficially owns 297,167
Shares of HGI (18.6%) and Epsilon Trust beneficially owns 198,112
Shares of HGI (12.4%). Mr. Gumbiner has the power to designate and
replace the trustees of Alpha Trust, and Mr. Troup has the power to
designate and replace the trustees of Epsilon Trust.
No transactions in the Shares, other than as described below,
have been reported by HEC or any of the entities or the executive
officers or directors listed in response to Item 2, during the past
60 days. During the past 60 days, HEC purchased 32,804 Shares in the
open market as follows (all amounts and prices have been adjusted for
the reverse split):
Trade Number of Price
Date Shares Per Share
----- ----------- ---------
5/19/95 226 12
5/22/95 89 12
5/25/95 39 12
5/30/95 25 12
5/31/95 550 12
6/01/95 25 12
6/02/95 550 12
6/02/95 3,750 12.5
6/05/95 650 12
6/06/95 225 12
6/06/95 5,000 12.5
6/12/95 525 12
6/13/95 175 12
6/14/95 3,750 12
6/15/95 525 11.5
6/16/95 525 11.5
6/20/95 650 11.5
6/21/95 150 11.5
6/22/95 4,700 12
6/23/95 675 12
6/27/95 625 11.5
6/28/95 475 11.5
7/23/95 200 10.5
7/05/95 6,000 10.5
7/06/95 700 10.25
7/07/95 300 10.125
7/10/95 400 10.125
7/11/95 400 10
7/13/95 400 10
7/20/95 500 10.5
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.
Hallwood Energy Corporation
By: Cathleen M. Osborn
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Cathleen M. Osborn
Vice President
Dated: July 21, 1995
