GALLAGHER ARTHUR J & CO
SC 13G/A, 1994-02-10
INSURANCE AGENTS, BROKERS & SERVICE
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<S>                                                                        <C>                           
                                                                                     OMB APPROVAL        
                                 UNITED STATES                             OMB number:          3235-0145
                       SECURITIES AND EXCHANGE COMMISSION                  Expires:      October 31, 1994
                            WASHINGTON, D.C.  20549                        Estimated average burden      
                                                                           hours per response . . . 14.90
                                                                                                         

                                  SCHEDULE 13G

                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                                
                               (AMENDMENT NO. 6)*
                                                 


                           GALLAGHER ARTHUR J. & CO.
                                (Name of Issuer)

                                     COMMON
                         (Title of Class of Securities)

                                   363576101
                                 (CUSIP Number)

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Check the following box if a fee is being paid with this statement [ ].  (A fee
is not required only if the filing 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 five percent or less of such class.)
(See Rule 13d-7).

*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 the
disclosures provided in a prior cover page.

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 (however, see
the Notes).





SEC 1745 (2/92)                  Page 1 of 3 pages
<PAGE>   2
CUSIP No. 363576101                      13G                Page 2 OF 3 PAGES


       NAME OF REPORTING PERSON
   1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
       THE CAPITAL GROUP, INC.
       86-0206507

       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   2                                                          (a) [ ]
                                                              (b) [ ]

       SEC USE ONLY
   3

       CITIZENSHIP OR PLACE OF ORGANIZATION
   4
       DELAWARE

                                   SOLE VOTING POWER
                              5       
         NUMBER OF                 342,540
                                       
          SHARES
                                   SHARED VOTING POWER
       BENEFICIALLY           6
                                   NONE
         OWNED BY

           EACH                    SOLE DISPOSITIVE POWER
                              7       
         REPORTING                 972,620
                                       
          PERSON
                                   SHARED DISPOSITIVE POWER
           WITH               8
                                      NONE

       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   9      
       972,620      Beneficial ownership disclaimed pursuant to Rule 13d-4
           
       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
  10

       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  11      
       6.42%
           
       TYPE OF REPORTING PERSON*
  12
       HC


                      *SEE INSTRUCTION BEFORE FILLING OUT!





                               Page 2 of 3 pages
<PAGE>   3
                                                                       Page 3
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC  20549

                                  Schedule 13G
                   Under the Securities Exchange Act of 1934


                                     
Fee enclosed [ ]  or Amendment No. 6
                                      
Item 1(a)        Name of Issuer:
                 Gallagher Arthur J. & Co.

Item 1(b)        Address of Issuer's Principal Executive Offices:
                 10 Gould Center
                 Rolling Meadows, IL  60008

Item 2(a)        Name of Person(s) Filing:
                 The Capital Group, Inc.

Item 2(b)        Address of Principal Business Office:
                 333 South Hope Street
                 Los Angeles, CA  90071

Item 2(c)        Citizenship:   N/A 

Item 2(d)        Title of Class of Securities:  Common

Item 2(e)        CUSIP Number:  363576101

Item 3           The person(s) filing is(are):

                 (b)        [ ]          Bank as defined in Section 3(a)(6) of
                                         the Act.
                 (e)        [ ]          Investment Adviser registered under
                                         Section 203 of the Investment Advisers 
                                         Act of 1940.
                 (g)        [x]          Parent Holding Company in accordance
                                         with Section 240.13d-1(b)(1)(ii)(G).

Item 4           Ownership

                 (a)        Amount Beneficially Owned:
                            See item 9, pg. 2 
                 (b)        Percent of Class:  See item 11, pg. 2 
                 (c)        Number of shares as to which such person has:
                            i)           sole power to vote or to direct the
                                         vote  See item 5, pg. 2
                            ii)          shared power to vote or to direct the
                                         vote  None
                            iii)         sole power to dispose or to direct the
                                         disposition of  See item 7, pg. 2
                            iv)          shared power to dispose or to direct
                                         the disposition of None - beneficial
                                         ownership disclaimed pursuant to Rule
                                         13d-4

Item 5           Ownership of 5% or Less of a Class:  N/A

Item 6           Ownership of More than 5% on Behalf of Another Person:  N/A

Item 7           Identification and Classification of the Subsidiary Which
                 Acquired the Security Being Reported on By the Parent Holding
                 Company

                 (1)        Capital Research and Management Company is an
                            Investment Adviser registered under Section 203 of
                            the Investment Advisers Act of 1940 and is a wholly
                            owned subsidiary of The Capital Group, Inc.
                 (2)        Capital Guardian Trust Company is a Bank as defined
                            in Section 3(a)(6) of the Act and a wholly owned
                            subsidiary of The Capital Group, Inc.

Item 8           Identification and Classification of Members of the Group:
                 N/A

Item 9           Notice of Dissolution of the Group:  N/A

Item 10          Certification

                 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.

                 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.
          
Date:  February 11, 1994
           
Signature:       /s/ Philip de Toledo
Name/Title:      Philip de Toledo, Vice President and Treasurer
                 The Capital Group, Inc.


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