SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Name of Issuer: Allis-Chalmers Corporation
Title of Class of Securities: Common Stock, Par $.15
CUSIP Number: 019645 407
Date of Event Which Requires Filing of this Statement:
September 30, 1998
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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).
CUSIP No. 019645 407
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Firstar Bank Milwaukee, N.A.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
State of organization: U.S. domestic corporation
NUMBER OF 5. SOLE VOTING POWER
SHARES 101,977
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 31
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 101,977
PERSON 8. SHARED DISPOSITIVE POWER
WITH 31
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
102,008 shares
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.2%
12. TYPE OF REPORTING PERSON*
BK
Item 1
(a) Name of Issuer:
Allis-Chalmers Corporation
(b) Address of Issuer's Principal Executive Offices:
1126 S. 70th Street
West Allis, Wisconsin 53214
Item 2
(a) Name of Person Filing:
Firstar Bank Milwaukee, N.A.
(b) Address of Principal Business Office or, if none, Residence:
777 E. Wisconsin Avenue
Milwaukee, Wisconsin 53202
(c) Citizenship:
State of organization: Wisconsin
(d) Title of Class of Securities:
Common Stock, Par $.15
(e) CUSIP Number:
019645 407
Item 3. If this statement is filed pursuant to sections
240.13d-1(b) or 240.13d-2(b) or (c), check whether the person
filing is a:
(a) [ ] Broker or dealer registered under section 15 of the
Act (15 U.S.C. 78o)
(b) [x] Bank as defined in section 3(a)(6) of the Act (15
U.S.C. 78c)
(c) [ ] Insurance company as defined in section 3(a)(19) of
the Act (15 U.S.C. 78c)
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act (15 U.S.C. 80a-8)
(e) [ ] An investment adviser in accordance with section
240.13d-1(b)(1)(ii)(E)
(f) [ ] An employee benefit plan or endowment fund in
accordance with section 240.13d-1(b)(1)(ii)(F)
(g) [ ] A parent holding company or control person in
accordance with section 240.13d-1(b)(ii)(G)
(h) [ ] A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act (12 U.S.C. 1813)
(i) [ ] A church plan that is excluded from the definition of
an investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3)
(j) [ ] Group in accordance with section 240.13d-1(b)(1)(ii)(J)
Item 4. Ownership:
(a) Amount beneficially owned as of September 30, 1998:
102,008 shares
(b) Percent of class:
10.2%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
101,977
(ii) Shared power to vote or to direct to the vote:
31
(iii) Sole power to dispose or to direct the disposition of:
101,977
(iv) Shared power to dispose or to direct the disposition of:
31
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
Other persons are known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds
from the sale of, shares beneficially owned by the filing
person. Except for any person identified immediately below,
such rights do not extend to shares constituting more than 5% of
the class.
Allis-Chalmers Corporation Retiree Health Trust for the Benefit
of Non-United Auto Workers Retirees
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 I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection
with or as a participant in any transaction having that 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: October 1, 1998
FIRSTAR BANK MILWAUKEE, N.A.
By: /s/ Howard H. Hopwood
Name/Title: Howard H. Hopwood, Cashier
