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
Albertine, John 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
09/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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<CAPTION>
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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|09/03/|S | |2,300 |D |$13.0489 | | | |
e |98 | | | | | | | | |
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Common Stock, $2/3 par valu|09/08/|S | |1,200 |D |$13.25 | | | |
e |98 | | | | | | | | |
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Common Stock, $2/3 par valu|09/10/|S | |1,000 |D |$13.00 | | | |
e |98 | | | | | | | | |
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Common Stock, $2/3 par valu|09/11/|S | |300 |D |$13.00 | | | |
e |98 | | | | | | | | |
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Common Stock, $2/3 par valu|09/14/|S | |400 |D |$13.00 | | | |
e |98 | | | | | | | | |
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Common Stock, $2/3 par valu|09/15/|S | |200 |D |$13.00 | | | |
e |98 | | | | | | | | |
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Common Stock, $2/3 par valu|09/16/|S | |1,200 |D |$13.00 |7,856 |D | |
e |98 | | | | | | | | |
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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>
Directors Stock Option|$6.3104 |1/2/9|J | |404 |A |7/2/9|1/2/0|Common Stock|404 | |D | | |
| |8 | | | | |8 |8 | | | | | | |
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Directors Stock Option|$5.4169 |4/1/9|J | |538 |A |10/1/|4/1/0|Common Stock|538 | |D | | |
| |8 | | | | |98 |8 | | | | | | |
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Directors Stock Option|$18.0625|4/24/|J | |1,500 |A |* |4/24/|Common Stock|1,500 | |D | | |
| |98 | | | | | |08 | | | | | | |
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Directors Stock Option|$18.0625|4/24/|J | |2,800 |A |4/24/|4/24/|Common Stock|2,800 | |D | | |
| |98 | | | | |98 |08 | | | | | | |
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Directos Stock Option |$4.4906 |7/1/9|J | |534 |A |1/1/9|7/1/0|Common Stock|534 | |D | | |
| |8 | | | | |9 |8 | | | | | | |
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Directors Stock Option|$3.6113 |10/1/|J | |813 |A |4/1/9|10/1/|Common Stock|813 | |D | | |
| |98 | | | | |9 |08 | | | | | | |
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| | | | | | | | | | | | | | |
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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/Deborah K. Pawlowski, Attorney-in-Fact
DATE
10/08/98