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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
Penn Engineering and Manufacturing
(Name of Issuer)
Common Stock, par value $1.00 per share
(Title of Class of Securities)
707389102
(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
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).
(Continued on the following page(s))
Page 1 of 5 Pages
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Page 2 of 5
CUSIP NO. 707389102
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos.
of Above Persons:
First Union Corporation of New Jersey 56-1948896
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
(3) SEC Use Only
(4) Citizenship or Place of Organization
New Jersey
Number of Shares (5) Sole Voting Power 0
----------------- --
Beneficially (6) Shared Voting Power 112,750
------------------- --------
Owned by Each (7) Sole Dispositive Power 55,000
---------------------- --------
Reporting Person With: (8) Shared Dispositive Power 59,455
------------------------ --------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
114,455
(10) Check if the Aggregate Amount in Row 9 Excludes Certain Shares
(See Instructions)
[ ]
Not applicable
(11) Percent of Class Represented by Amount in Row 9
6.71 %
(12) Type of Reporting Person (See Instructions)
First Union Corporation of New Jersey (HC)
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Page 3 of 5
CUSIP NO. 707389102
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos.
of Above Persons:
First Fidelity Incorporated 22-1894945
(2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
(3) SEC Use Only
(4) Citizenship or Place of Organization
New Jersey
Number of Shares (5) Sole Voting Power 0
----------------- --
Beneficially (6) Shared Voting Power 112,750
------------------- --------
Owned by Each (7) Sole Dispositive Power 55,000
---------------------- --------
Reporting Person With: (8) Shared Dispositive Power 59,455
------------------------ --------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
114,455
(10) Check if the Aggregate Amount in Row 9 Excludes Certain Shares
(See Instructions)
[ ]
Not applicable
(11) Percent of Class Represented by Amount in Row 9
6.71 %
(12) Type of Reporting Person (See Instructions)
First Fidelity Incorporated (HC)
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Page 4 of 5
Item 1(a) Name of Issuer
Penn Engineering and Manufacturing Corporation
Item 1(b) Address of Issuer's Principal Executive Office
Post Office Box 1000
Danboro, Pennsylvania 18916
Item 2(a) Name of Person Filing
First Union Corporation of New Jersey
Item 2(b) Address of Principal Office
550 Broad Street
Newark, New Jersey 07102
Item 2(c) Citizenship
New Jersey
Item 2(d) Title of Class of Securities
Common Stock, par value $1.00 per share
Item 2(e) CUSIP Number
707389102
Item 3 If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a
(g) [X] Parent Holding Company, in accordance with section
240.13d-1(b) (ii) (G)
Item 4 Ownership
(a) Amount Beneficially Owned: 114,455
(b) Percent of Class: 6.71%
Number of shares as to which such person has:
(I) Sole power to vote or to direct the vote 0
--
(ii) Shared power to vote or to direct the vote 112,750
--------
(iii) Sole power to dispose or to direct the
disposition of 55,000
-------
(iv) Shared power to dispose or to direct the
disposition of 59,455
-------
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
Not applicable
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Page 5 of 5
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent
Holding Company
First Union Corporation of New Jersey ("FUNC-NJ") is
filing this schedule pursuant to Rule 13d-1(b)(ii)(G) as
indicated under Item 3(g). FUNC-NJ is the successor to
First Fidelity Bancorporation ("FFB") and is a
wholly-owned subsidiary of First Union Corporation
("FUNC"). On January 1, 1996, FUNC acquired FFB pursuant
to a merger of FFB into FUNC-NJ. FUNC-NJ is filing this
schedule for this period ended December 31, 1995 on
behalf of First Fidelity Bank, N.A. ("FFB-N.A."), which
is a direct subsidiary of First Fidelity
Incorporated and an indirect subsidiary of FUNC-NJ.
FFB-N.A. holds the securities being reported in a
fiduciary capacity for its customers and/or as investment
adviser for certain mutual funds.
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.
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 9, 1996
FIRST UNION CORPORATION OF NEW JERSEY successor corporation to FIRST
FIDELITY Bancorporation
Signature
Kent S. Hathaway Senior Vice President
FIRST FIDELITY INCORPORATED
Signature
Kent S. Hathaway Senior Vice President
