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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 11)
Johnston Industries, Inc.
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(Name of Issuer)
Common Stock, par value $.10 per share
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Title of Class of securities)
361719 10 7
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(CUSIP number)
J. Reid Bingham, Esq.
Bingham & Associates
P. O. Box 14-4991
Coral Gables, Florida 33114
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(Name, address and telephone number of person
authorized to receive notices and communications)
June 19, 1998
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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-l(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the 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 five percent or less of such class.)
(See Rule 13d-7.)
(Continued on following pages)
(Page 1 of 4 Pages)
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CUSIP NO. 361719 10 7 13D PAGE 2 OF 4 PAGES
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(1) NAMES OF REPORTING PERSONS
SS. or I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
GRM Industries Inc. 31-105-7921
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ X ]
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(3) SEC USE ONLY WC/00
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(4) SOURCE OF FUNDS*
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Tennessee
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(7) SOLE VOTING POWER
NUMBER OF 3,602,204
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY 0
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH 3,602,204
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(10) SHARED DISPOSITIVE POWER
0
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,602,204
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(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.53
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(14) TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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AMENDMENT NO. 11 TO SCHEDULE 13D
This Schedule 13D is hereby amended as follows:
1. Item 5, INTEREST IN SECURITIES OF THE ISSUER, is amended to add at
the end of such item the following:
Since the date of the last amendment to this Schedule 13D, GRM
Industries, Inc. has made the sales listed below:
NUMBER OF
TRADE DATE SHARES SOLD PRICE PER SHARE
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03/23/98 700 $6.0625
03/30/98 10,000 6.0625
06/09/98 1,000 5.00
06/11/98 1,500 4.812
06/15/98 22,425 4.75
06/15/98 25,000 4.75
06/19/98 25,000 4.7405
Total Number of Shares: 85,625
All of the above sales were made on the New York Stock Exchange except
for the June 15, 1998 disposition of 22,425 which was a transfer to the GRM
Industries Inc. Pension Plan in satisfaction of a funding obligation.
As of July 1, 1998, GRM owns, directly or beneficially, 3,602,204
shares of Johnston Common Stock, which amounts to approximately 33.53% of the
outstanding shares of Johnston Common Stock. GRM has the sole power to vote and
dispose of all of the shares of Johnston Common Stock it holds.
Page 3 of 4 pages.
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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.
JULY 30, 1998
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(Date)
GRM Industries Inc.
By: /s/ David L. Chandler
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David L. Chandler
President and Chief Executive
Officer
Page 4 of 4 pages.
