<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
MotivePower Industries, Inc. (formerly MK Rail Corporation)
-----------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01
----------------------------
(Title of Class of Securities)
61980K-101
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(CUSIP Number)
Carl Krasik, Esquire
Mellon Bank Corporation
1910 One Mellon Bank Center
Pittsburgh, Pennsylvania 15258
(412) 234-5222
--------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
February 14, 1997
-----------------
(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-1(b)(3) or (4), check the following box. [ ]
Check the following box if a fee is being paid with this statement [ ].
- --------
* The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act.
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CUSIP NO. 61980K-101
- ------------------------------------------------------------------------------
1) Names of Reporting Persons, S.S. or
I.R.S. Identification Nos. of Above Persons
Mellon Bank Corporation
I.R.S. Identification No.: 25-1233834
- ------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See
Instructions)
(a)
(b) X
- ------------------------------------------------------------------------------
3) SEC Use Only
- ------------------------------------------------------------------------------
4) Source of Funds (See Instructions) Not Applicable.
- ------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
- ------------------------------------------------------------------------------
6) Citizenship or Place of Organization Pennsylvania
- ------------------------------------------------------------------------------
Number of (7) Sole Voting Power 40,500
Shares Bene- -------------------------------------------------
ficially (8) Shared Voting Power 0
Owned by -------------------------------------------------
Each Report- (9) Sole Dispositive Power 40,500
ing Person -------------------------------------------------
With (10) Shared Dispositive Power 0
- ------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
40,500
- ------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions)
- ------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) 0.2%
- ------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions) HC
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Page 2 of 5 Pages
<PAGE> 3
CUSIP NO. 61980K-101
- ------------------------------------------------------------------------------
1) Names of Reporting Persons, S.S. or
I.R.S. Identification Nos. of Above Persons
Mellon Bank, N.A.
I.R.S. Identification No.: 25-0659306
- ------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See
Instructions)
(a)
(b) X
- ------------------------------------------------------------------------------
3) SEC Use Only
- ------------------------------------------------------------------------------
4) Source of Funds (See Instructions) Not Applicable.
- ------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
- ------------------------------------------------------------------------------
6) Citizenship or Place of Organization United States
- ------------------------------------------------------------------------------
Number of (7) Sole Voting Power 40,500
Shares Bene- ------------------------------------------------
ficially (8) Shared Voting Power 0
Owned by ------------------------------------------------
Each Report- (9) Sole Dispositive Power 40,500
ing Person ------------------------------------------------
With (10) Shared Dispositive Power 0
- ------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person
40,500
- ------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions)
- ------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) 0.2%
- ------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions) BK
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Page 3 of 5 Pages
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ITEM 1. SECURITY AND ISSUER.
This statement on Schedule 13D relates to the Common Stock, par value
$.01 per share (the "Common Stock"), of MotivePower Industries, Inc., formerly
named MK Rail Corporation, a Delaware corporation (the "Issuer"). The principal
executive offices of the Issuer are located at 1200 Reedsdale Street,
Pittsburgh, Pennsylvania 15233.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is being filed by Mellon Bank Corporation ("Mellon"), a
bank holding company organized under the laws of the Commonwealth of
Pennsylvania, and its wholly owned subsidiary, Mellon Bank, N.A. ("Mellon
Bank"), a national banking association organized under the Federal laws of the
United States of America. The principal offices of Mellon and Mellon Bank are
located at One Mellon Bank Center, Pittsburgh, Pennsylvania 15258.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The information contained in Items (7) through (13) of the cover pages
is incorporated herein by reference. As of February 14, 1997, Mellon and Mellon
Bank no longer beneficially own any of the shares of the Issuer's Common Stock
which were acquired pursuant to the plan of reorganization of Morrison Knudsen
Corporation and subject to the Stockholders Agreement between the Issuer and
Morrison Knudsen Corporation described in and filed as an exhibit to the
original Schedule 13D filing dated September 18, 1996. The remaining shares
reported herein as beneficially owned by Mellon and Mellon Bank are held in a
fiduciary capacity for the accounts of third parties, were not acquired
pursuant to the plan of reorganization of Morrison Knudsen Corporation and are
not subject to the Stockholders Agreement. The following transactions by Mellon
Bank are the only transactions in the Issuer's Common Stock effected by Mellon
or Mellon Bank within the 60 days preceding February 14, 1997:
WHERE AND
DATE OF TRANSACTION NUMBER OF SHARES PRICE PER SHARE HOW EFFECTED
- ------------------- ---------------- --------------- ------------
January 23, 1997 21,000 $11.0625 Open Market Sale
February 3, 1997 9,600 $10.9375 Open Market Sale
February 11, 1997 115,500 $10.9375 Open Market Sale
February 12, 1997 2,500 $10.875 Open Market Sale
February 13, 1997 35,000 $10.875 Open Market Sale
February 14, 1997 127,000 $10.9375 Open Market Sale
Page 4 of 5 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.
MELLON BANK CORPORATION
By /s/ STEVEN G. ELLIOTT
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Steven G. Elliott
Vice Chairman, Chief Financial
Date: March 5, 1997 Officer and Treasurer
MELLON BANK, N.A.
By /s/ STEVEN G. ELLIOTT
-------------------------------
Steven G. Elliott
Vice Chairman, and Chief
Date: March 5, 1997 Financial Officer
Page 5 of 5 Pages
