SCHEDULE 13G Page 1 of 4
(12/31/97)
DURAKON INDUSTRIES, INC.
COMMON STOCK
CUSIP #266334101
CUSIP #266334101 Page 2 of 4
Item 1: REPORTING PERSON
Corbin & Company (Tax ID: 75-2421966)
Item 4: CITIZENSHIP
A Texas Corporation
Item 5: SOLE VOTING POWER
None (See Note 1)
Item 6: SHARED VOTING POWER
363,755 (See Note 1)
Item 7: SOLE DISPOSITIVE POWER
None (See Note 1)
Item 8: SHARED DISPOSITIVE POWER
363,755 (See Note 1)
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Item 9: AGGREGATE AMOUNT BENEFICIALLY OWNED
363,755
Item 11: PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.8%
Item 12: TYPE OF REPORTING PERSON
IA
CUSIP # 266334101 Page 3 of 4
Item 1(a). NAME OF ISSUER:
DURAKON INDUSTRIES, INC.
Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
2101 N. Lapeer Road
Lapeer, MI 48446
Item 2(a). NAME OF PERSON FILING:
Corbin & Company
Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
6300 Ridglea Place, Suite 1111
Fort Worth, TX 76116
Item 2(c). CITIZENSHIP:
A Texas Corporation
Item 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock
Item 2(e). CUSIP NUMBER:
266334101
Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b), and
the person filing is an investment advisor registered under
section 203 of the Investment Advisers Act of 1940.
Item 4. OWNERSHIP AS OF DECEMBER 31, 1997.
(a) AMOUNT BENEFICIALLY OWNED:
363,755 shares
(b) PERCENT OF CLASS:
5.8%
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE:
None (See Note 1)
(ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE:
363,755 (See Note 1)
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF:
None (See Note 1)
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF:
363,755 (See Note 1)
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable.
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
All of the securities reported in this schedule are held on behalf of
Corbin & Company's advisory clients, all of whom have the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the sale
of, such securities, but no single client, to the best knowledge of Corbin &
Company, holds more than five percent of the common stock of Durakon Industries,
Inc.
CUSIP # 266334101 Page 4 of 4
Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
Item 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
Item 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
(Note 1). All securities reported on this schedule are owned by Corbin &
Company, an investment advisor registered under section 203 of the Investment
Advisers Act of 1940, as agent for its investment advisory clients. Both the
power to vote or direct the voting of such securities, and the power to dispose
of or direct the disposition of such securities, are shared by Corbin & Company
and each respective advisory client, with regard to securities owned on the
client's behalf.
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: February 12, 1998
SIGNATURE: /s/ Barbara E. Shields
Vice President for Client Relations
and Legal Affairs
