MUELLER PAUL CO
SC 13G, 1997-01-21
FABRICATED PLATE WORK (BOILER SHOPS)
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                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                               SCHEDULE 13G

                 Under the Securities Exchange Act of 1934
                            (Amendment No. 15)*

                           PAUL MUELLER COMPANY
- ---------------------------------------------------------------------------
                             (Name of Issuer)

                               COMMON STOCK
- ---------------------------------------------------------------------------
                      (Title of Class of Securities)

                               624752-10-1
- ---------------------------------------------------------------------------
                              (CUSIP Number)

Check the following box if a fee is being paid with this statement /__/.  (A 
fee is not required only if the filing person:  (1) has a previous state-
ment 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 13b-7.)

*The remainder of this cover page shall be filled out for a reporting per-
son's initial filing on this form with respect to the subject class of 
securities, and for any subsequent amendment containing information which 
would alter the disclosures provided in a prior cover page.

The information required in 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 ("Act") or otherwise subject to the liabilities of 
that section of the Act but shall be subject to all other provisions of 
the Act (however, see the Notes).

<PAGE>   2.
 1.  NAME OF REPORTING PERSON AND S.S. OR I.R.S. IDENTIFICATION NO. OF 
     ABOVE PERSON:

     Paul Mueller
     S/S/N ###-##-####

 2.  CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP:    A /__/    B /__/

     N/A

 3.  SEC USE ONLY

 4.  CITIZENSHIP OR PLACE OF ORGANIZATION:

     U.S. Citizen

- ---------------------------------------------

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

 5.  SOLE VOTING POWER:

     86,137

 6.  SHARED VOTING POWER:

     20,420 (1)

 7.  SOLE DISPOSITIVE POWER:

     86,137

 8.  SHARED DISPOSITIVE POWER:

     20,420 (1)

- ---------------------------------------------

 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

     106,557 (2)

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ITEM 9 EXCLUDES CERTAIN SHARES 
     (SEE INSTRUCTIONS BEFORE FILLING OUT):

     N/A 

11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ITEM 9:

     9.12%

12.  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS BEFORE FILLING OUT):

     Individual

- --------------
(1) The 20,420 shares are owned by Mrs. Paul Mueller, and Mr. Paul Mueller 
    disclaims any beneficial ownership in those shares.

(2) Includes 20,420 shares owned by Mrs. Paul Mueller, and Mr. Paul Mueller 
    disclaims any beneficial ownership in those shares.

                                     2

<PAGE>   3
ITEM 1   (a)  NAME OF ISSUER:

              Paul Mueller Company

         (b)  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

              1600 West Phelps Street
              Springfield, Missouri 65801-0828

ITEM 2   (a)  NAME OF PERSON FILING:

              Paul Mueller

         (b)  ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE:

              1600 West Phelps Street
              Springfield, Missouri 65801-0828

         (c)  CITIZENSHIP:

              U.S. Citizen

         (d)  TITLE OF CLASS OF SECURITIES:

              Common Stock

         (e)  CUSIP NUMBER:

              624752-10-1

ITEM 3   N/A

ITEM 4   OWNERSHIP AS OF DECEMBER 31, 1996:

         (a)  AMOUNT BENEFICIALLY OWNED:

              106,557 (1) shares

         (b)  PERCENT OF CLASS:

              9.12%

         (c)  NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:

              (i)  SOLE POWER TO VOTE OR TO DIRECT THE VOTE:

                   86,137 shares

- --------------
(1) Includes 20,420 shares owned by Mrs. Paul Mueller, and Mr. Paul Mueller 
    disclaims any beneficial ownership in those shares.

                                     3

<PAGE>   4
             (ii)  SHARED POWER TO VOTE OR TO DIRECT THE VOTE:

                   20,420 (1) shares

            (iii)  SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF:

                   86,137 shares

             (iv)  SHARED POWER TO DISPOSE OR TO DIRECT DISPOSITION OF:

                   20,420 (1) shares

ITEM 5   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

         N/A

ITEM 6   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

         N/A

ITEM 7   IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH 
         ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING 
         COMPANY:

         N/A

ITEM 8   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

         N/A

ITEM 9   NOTICE OF DISSOLUTION OF GROUP:

         N/A

ITEM 10  CERTIFICATION:

         N/A

- --------------
(1) The 20,420 shares are owned by Mrs. Paul Mueller, and Mr. Paul Mueller 
    disclaims any beneficial ownership in those shares.

                                     4

<PAGE>   5
                                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.

DATE:  January 7, 1997          /S/            PAUL MUELLER
       ----------------         ------------------------------------------
                                SIGNATURE

                                   Paul Mueller - Chairman of the Board
                                ------------------------------------------
                                NAME / TITLE

                                     5



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