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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No.: *
Name of Issuer: Recycling Industries, Inc.
Title of Class of Securities: Common Stock
CUSIP Number: 75628510-2
Check the following line if a fee is being paid with this statement X. (A
fee is not required only if the filing person: (1) has a previous statement
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 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person'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).
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CUSIP No.: 75628510-2
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Janus Capital Corporation
EIN #84-0765359
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
a. ___
b. _X_
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Colorado
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
-0-
6. SHARED VOTING POWER
902,200**
7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
902,200**
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
902,200**
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.5%**
12. TYPE OF REPORTING PERSON
IA, CO
** See Item 4 of this filing
Page 2 of 9 pages
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CUSIP No.: 75628510-2
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas H. Bailey
SS ####-##-####
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
a. ___
b. _X_
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
-0-
6. SHARED VOTING POWER
902,200**
7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
902,200**
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
902,200**
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.5%**
12. TYPE OF REPORTING PERSON
IN
** See Item 4 of this filing
Page 3 of 9 pages
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CUSIP No.: 75628510-2
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Janus Venture Fund
EIN #84-0964425
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
a. ___
b. _X_
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
-0-
6. SHARED VOTING POWER
902,200**
7. SOLE DISPOSITIVE POWER
-0-
8. SHARED DISPOSITIVE POWER
902,200**
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
902,200**
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
N/A
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.5%**
12. TYPE OF REPORTING PERSON
IV
** See Item 4 of this filing
Page 4 of 9 pages
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Item 1.
(a). Name of Issuer: Recycling Industries, Inc. ("Recycling")
(b). Address of Issuer's Principal Executive Offices:
384 Inverness Drive South
Suite 211
Englewood, CO 80112
Item 2.
(a).-(c). Name, Principal Business Address, and Citizenship of Persons
Filing:
(1) Janus Capital Corporation ("Janus Capital")
100 Fillmore Street
Denver, Colorado 80206-4923
Citizenship: Colorado
(2) Thomas H. Bailey ("Mr. Bailey")
100 Fillmore Street
Denver, Colorado 80206-4923
Citizenship: USA
(3) Janus Venture Fund
100 Fillmore Street
Denver, Colorado 80206-4923
Citizenship: Massachusetts
(d). Title of Class of Securities: Common Stock
(e). CUSIP Number: 75628510-2
Item 3.
Janus Capital is an Investment Adviser registered under Section 203
of the Investment Advisers Act of 1940.
Janus Venture Fund is an Investment Company registered under
Section 8 of the Investment Company Act of 1940.
Page 5 of 9 pages
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Item 4. Ownership
The information in items 1 and 5 through 11 on the cover pages (pp.
2-4) on Schedule 13G is hereby incorporated by reference.
Janus Capital is a registered investment adviser which furnishes
investment advice to several investment companies registered under
Section 8 of the Investment Company Act of 1940 and individual and
institutional clients (collectively referred to herein as "Managed
Portfolios"). As a result of its role as investment adviser or
sub-adviser to the Managed Portfolios, Janus Capital may be deemed
to be the beneficial owner of the shares of Recycling Common Stock
held by such Managed Portfolios. However, Janus Capital does not
have the right to receive any dividends from, or the proceeds from
the sale of, the securities held in the Managed Portfolios and
disclaims any ownership associated with such rights.
Mr. Bailey owns approximately 12.2% of Janus Capital. In addition
to being a stockholder of Janus Capital, Mr. Bailey serves as
President and Chairman of the Board of Janus Capital and is filing
this joint statement with Janus Capital as a result of such stock
ownership and positions which may be deemed to enable him to
exercise control over Janus Capital. Mr. Bailey does not own of
record any shares of Recycling Common Stock and he has not engaged
in any transaction in Recycling Common Stock. However, as a result
of his position, Mr. Bailey may be deemed to have the power to
exercise or to direct the exercise of such voting and/or
dispositive power that Janus Capital may have with respect to
Recycling Common Stock held by the Managed Portfolios. All shares
reported herein have been acquired by the Managed Portfolios, and
Mr. Bailey specifically disclaims beneficial ownership over any
shares of Recycling Common Stock that he or Janus Capital may be
deemed to beneficially own. Furthermore, Mr. Bailey does not have
the right to receive any dividends from, or the proceeds from the
sale of, the securities held in the Managed Portfolios and
disclaims any ownership associated with such rights.
Janus Venture Fund is an investment company registered under the
Investment Company Act of 1940 and is one of the Managed Portfolios
to which Janus Capital provides investment advice.
Page 6 of 9 pages
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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
Janus Capital's Managed Portfolios, set forth in Item 4 above,
have the right to receive all dividends from, and the proceeds
from the sale of, the securities held in their respective
accounts.
The interest of one person, Janus Venture Fund, an investment
company registered under the Investment Company Act of 1940,
in Recycling Common Stock amounted to 902,200 shares or 6.5%
of the total outstanding Common Stock at December 31, 1996.
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
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.
Page 7 of 9 pages
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SIGNATURES
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.
JANUS CAPITAL CORPORATION
By /s/ David C. Tucker 2/10/97
David C. Tucker, Vice President Date
JANUS VENTURE FUND
By /s/ David C. Tucker 2/10/97
David C. Tucker, Vice President Date
THOMAS H. BAILEY
By /s/ David C. Tucker 2/10/97
David C. Tucker Date
Under Power of Attorney dated 8/8/95
On File with Schedule 13G for
I-Stat Corporation 8/9/95
Page 8 of 9 pages
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EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934,
the persons named below agree to the joint filing on behalf of each of them
of a Statement on Schedule 13G (including amendments thereto) with respect to
the Common Stock of Recycling Industries, Inc. and further agree that this
Joint Filing Agreement be included as an Exhibit to such joint filings. In
evidence thereof, the undersigned hereby execute this Agreement as of the
10th day of February, 1997.
JANUS CAPITAL CORPORATION
By /s/ David C. Tucker
David C. Tucker, Vice President
JANUS VENTURE FUND
By /s/ David C. Tucker
David C. Tucker, Vice President
THOMAS H. BAILEY
By /s/ David C. Tucker
David C. Tucker
Under Power of Attorney dated 8/8/95
On File with Schedule 13G for
I-Stat Corporation 8/9/95
Page 9 of 9 pages