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
FORD, ALLEN H
1422 EUCLID AVENUE
500 HANNA BUILDING
CLEVELAND, OH 44115-1901
USA
2. Issuer Name and Ticker or Trading Symbol
PARKER-HANNIFIN CORPORATION
PH
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
June 30, 1998
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
<TABLE>
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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 | | | | | | |9,000(3) | | |
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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>
Option to Buy |$42.9580|8/14/|A |V|750(3) |A |8/14/|8/13/|Common stock|750(3) |(1) |750(2)(3) |D | |
| |97 | | | | |98 |07 | | | | | | |
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Phantom Stock Units |1-for-1 |(4) |A(4)|V|1,233.30(3)|A | | |Common stock|1,2330.| |3,604.73(3) |I |(5) |
| | | | | | | | | |30(3) | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Granted under the Non-Employee Directors Stock Option Plan in a
transaction exempt under Rule 16b-3.
(2) Mr. Ford also owns 1,500 additional options which were granted pursuant to
the Corporation's Non-Employee
Directors Stock Option Plan in a transaction exempt under Rule
16b-3.
(3) Reflects 3-shares-for-2 common stock split paid on September 5,
1997.
(4) Reinvestment of quarterly dividend equivalents in Phantom Stock Account in
Directors Deferred Compensation
Plan from July 1, 1997, through June 30,
1998.
(5) Directors' Deferred Compensation
Plan.
SIGNATURE OF REPORTING PERSON
Thomas L. Meyer, Attorney-in-Fact
DATE
August 14, 1998
