UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Huebsch, Thomas M
2777 Walden Avenue
Buffalo, NY 14225
USA
2. Issuer Name and Ticker or Trading Symbol
American Precision Industries Inc.
APR
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
06/13/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Corporate Controller
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common stock, $2/3 par valu|05/22/|M | |1500 |A |7.375 | | | |
e |97 | | | | | | | | |
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Common stock, $2/3 par valu|05/22/|S | |1500 |D |18.875 | | | |
e |97 | | | | | | | | |
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Common stock, $2/3 par valu|05/29/|M | |100 |A |7.375 | | | |
e |97 | | | | | | | | |
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Common stock, $2/3 par valu|05/29/|M | |1400 |A |6.75 | | | |
e |97 | | | | | | | | |
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Common stock, $2/3 par valu|05/29/|S | |1500 |D |19.25 | | | |
e |97 | | | | | | | | |
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Common stock, $2/3 par valu|05/30/|M | |1600 |A |9.00 | | | |
e |97 | | | | | | | | |
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Common stock, $2/3 par valu|05/30/|M | |800 |A |12.375 | | | |
e |97 | | | | | | | | |
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Common stock, $2/3 par valu|05/30/|S | |1600 |D |19.375 |1,959.5773 |D | |
e |97 | | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option |7.375 |05/22|M | |1,500 |D |* | |Common Stock| | | | | |
(Right to Buy) | |/97 | | | | | | | | | | | | |
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|7.375 |05/29|M | |100 |D |* |04/25|Common Stock| | |1,600 |D | |
| |/97 | | | | | |/04 | | | | | | |
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|6.75 |05/29|M | |1,400 |D |* |04/23|Common Stock| | |600 |D | |
| |/97 | | | | | |/03 | | | | | | |
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|9.00 |05/30|M | |1,600 |D |* |04/27|Common Stock| | |2,400 |D | |
| |/97 | | | | | |/05 | | | | | | |
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|12.375 |05/30|M | |800 |D |* |04/26|Common Stock| | |3,200 |D | |
| |/97 | | | | | |/06 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
Options granted to reporting person become exercisable in five annual
installments of 20% each beginning on the first
anniversary of the date of
grant.
SIGNATURE OF REPORTING PERSON
/s/Thomas M. Huebsch
DATE
06/13/97