GATX CORP
10-Q/A, 1998-08-21
TRANSPORTATION SERVICES
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549





                                   Form 10-Q/A

       Amendment No. 1 to Quarterly Report pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934






      For the Quarterly Period Ended               Commission File Number
              June 30, 1998                                 1-2328





                                GATX Corporation



     Incorporated in the                      IRS Employer Identification No.
      State of New York                                 36-1124040

                             500 West Monroe Street
                          Chicago, Illinois 60661-3676
                                 (312) 621-6200










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                           PART II - OTHER INFORMATION


Item 1.  Legal Proceedings, as amended

The 11th  paragraph of the Legal  Proceedings  section of the GATX 10-Q filed on
August 14, 1998, should be deleted and replaced by the following paragraph:

Consistent  with its ongoing  product  support,  Airlog has  developed a partial
weight  restoration  solution  that allows  operators  to utilize  the  Affected
Aircraft  subject  only to limited  constraints  prescribed  by the FAA.  Airlog
continues to pursue, with the apparent cooperation of each of the four operators
of the Affected Aircraft, including Evergreen, Tower, GECC and AIA, solutions to
the FAA's remaining  concerns raised in the Airworthiness  Directive.  While the
results of any litigation are impossible to predict with certainty,  the Company
believes that each of the foregoing  claims is without  merit,  and that Capital
and Airlog have adequate defenses thereto.



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                                    SIGNATURE



      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

                                            GATX CORPORATION
                                               (Registrant)




                                           /s/David M. Edwards
                                           -------------------
                                              David M. Edwards
                             Senior Vice President and Chief Financial Officer
                                         (Duly Authorized Officer)







Date: August 21, 1998



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