THIS PAPER DOCUMENT IS BEING SUBMITTED PURSUANT
TO RULE 902(g) OF REGULATION S-T
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 40)
Under the Securities Exchange Act of 1934
LYNCH CORPORATION
(Name of Issuer)
Common Stock, No Par Value
(Title of Class and Securities)
551137102
(CUSIP Number of Class of Securities)
Robert A. Hurwich, Lynch Corporation
8 Sound Shore Drive, Greenwich, CT, 06830 (203)629-3718
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 25, 1996
(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 State-
ment because of Rule 13d-1(b)(3) or (4), check the following box:
_____
/____/
Check the following box if a fee is being paid with this Statement:
_____
/____/
_________________________________________________________________
CUSIP No. 551137102 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Mario J. Gabelli I.D. No. ###-##-####
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
PF
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/ /
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
_________________________________________________________________
: (7) SOLE VOTING POWER
: 326,905 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 326,905 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
326,905 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES* _____
/ /
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
23.52%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
IN
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1. Security and Issuer
The class of equity securities to which this statement
on Schedule 13D relates is the Common Stock, no par value
("Securities") of Lynch Corporation (the "Issuer"), an Indiana
corporation with principal offices located at 8 Sound Shore
Drive, Suite 290, Greenwich, Connecticut, 06830.
This Amendment No. 40 is being filed to amend the Schedule
13D, as amended (the "Schedule 13D"), which was originally filed
December 19, 1985. Pursuant to Rule 101(a)(2)(ii) of Regulation
S-T and Rule 13d-2(c) under the Securities Exchange Act of 1934,
as amended, the entire text of the Schedule 13D is restated
herein except for previously filed paper exhibits.
Item 2. Identity and Background
(a), (b) and (c)- This statement is being filed by
Mario J. Gabelli ("Mr. Gabelli"). Mr. Gabelli is the Chairman,
Chief Executive Officer and Chief Investment Officer of Gabelli
Funds, Inc. ("GFI"), a financial services firm and an investment
adviser registered under the Investment Advisers Act of 1940
("Advisers Act"). Mr. Gabelli is also the Chief Investment
Officer of GAMCO Investors, Inc. ("GAMCO"), a majority-owned
subsidiary of GFI and an investment adviser registered under the
Advisers Act. Mr. Gabelli is also a director or trustee for all
of the registered investment companies advised by Gabelli Funds,
Inc. He is also the Chairman of the Board and Chief Executive
Officer of the Issuer and a director of Spinnaker Industries,
Inc. ("Spinnaker") and The Morgan Group, Inc. ("Morgan Group"),
which are subsidiaries of the Issuer. Mr. Gabelli's, GFI's and
GAMCO's business addresses are One Corporate Center, Rye, New
York, 10580. Spinnaker's business address is 600 North Pearl
Street, #2160, L.B. 100, Dallas, Texas, 75201. The Morgan
Group's business address is 2545 Wilkens Avenue, Baltimore,
Maryland, 21223.
(d) and (e) - Not applicable
(f) - Mr. Gabelli is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration
Mr. Gabelli used an aggregate of approximately
$5,802,564 to purchase the Securities beneficially owned by him
as reported in Item 5 below.
Item 4. Purpose of Transaction
Mr. Gabelli has purchased the Securities reported
herein as beneficially owned by him for investment for his own
account. He may acquire additional Securities or dispose of some
or all of the Securities reported herein.
As Chairman of the Board and Chief Executive Officer of
the Issuer, Mr. Gabelli is actively involved in the management of
the Issuer. Accordingly, in the normal course of his duties as
an officer and director of the Issuer, Mr. Gabelli may consider,
analyze or propose corporate transactions involving the Issuer or
its subsidiaries, sales or transfers of assets of the Issuer,
changes in the board of directors or management of the Issuer,
changes in the capitalization or dividend policy of the Issuer,
changes in the Issuer's business or corporate structure and
similar actions affecting the Issuer.
Other than as described above, Mr. Gabelli does not
have any present plans or proposals which relate to or would
result in any transaction, change or event specified in clauses
(a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest In Securities Of The Issuer
(a) The aggregate number and percentage of Securities
to which this Schedule 13D relates is 326,905 shares,
representing 23.52% of the 1,390,464 shares outstanding as
reported in the Issuer's most recently filed Form 10-Q for the
quarter ended March 31, 1996.
(b) Mr. Gabelli has the sole power to vote or direct
the vote and sole power to dispose or to direct the disposition
of the Securities reported herein.
(c) Effective June 25, 1996, Mr. Gabelli resigned as a
trustee of certain family trusts which hold shares of Common
Stock of the Issuer. As a result, Mr. Gabelli ceased to be a
beneficial owner of 20,000 shares of Common Stock of the Issuer
as of that date.
(d) and (e)- Not applicable
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
Not applicable
Item 7. Material to be Filed as an Exhibit
The following Exhibit A is attached hereto. The
following Exhibit BB is incorporated by reference to Exhibit BB in
Amendment No. 6 to Schedule 13D of various Gabelli entities dated
November 3, 1992 relating to the Common Stock of Hector Communica-
tions. The following Exhibit CC is incorporated by reference to
Exhibit CC in Amendment No. 10 to Schedule 13D of various Gabelli
entities dated November 9, 1992 relating to the Common Stock of The
Liberty Corporation.
Exhibit A: Power of Attorney from Mario J. Gabelli to
Robert A. Hurwich.
Exhibit BB: Memorandum of understanding between
Gabelli Funds, Inc., Mario J. Gabelli
and the Federal Communications Commission
(dated November 3, 1992).
Exhibit CC: Joint motion for approval of memorandum
of understanding file with FCC by
Gabelli Funds, Inc., Mario J. Gabelli
and the Federal Communications Commission
(dated November 9, 1992).
<PAGE>
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.
Dated: July 15, 1996
Mario J. Gabelli
By:______________________
Robert A. Hurwich
Attorney-in-Fact
<PAGE>
Exhibit A
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, THAT I, Mario J. Gabelli, have
made, constituted and appointed, and by these presents do make,
constitute and appoint, Robert A. Hurwich my true and lawful attorney
for me and in my name, place and stead solely for the purpose of
executing, filing or delivering any and all statements on Schedule 13D
or Forms 3, 4 or 5 under the Securities Exchange Act of 1934 relating to
securities issued by Lynch Corporation or its subsidiaries, and any
amendments thereof and any filing agreement relating thereto, giving and
granting unto said attorney full power and authority to do and perform
all and every such act as fully, to all intents and purposes, as I might
or could do if personally present, with full power of substitution and
revocation, hereby ratifying and confirming all that said attorney or
his substitute shall lawfully do or cause to be done by virtue hereof.
This instrument may not be changed orally.
IN WITNESS WHEREOF, I have hereunto set may hand and seal this 5th
day of July, 1996.
___________________________________
Mario J. Gabelli
BE IT KNOWN, that on this 5th day of July, 1996, before me, Bonnie
Cohen, a Notary Public in and for the State of New York duly
commissioned and sworn, personally came and appeared Mario J. Gabelli,
to me known, and known to me to be the same person described in and who
executed the Power of Attorney, and acknowledged the within Power of
Attorney to be his act and deed.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and
affixed my seal of office, the day and year above written.
__________________________________
Notary Public
