UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
(X) Form 4 Transactions Reported
1. Name and Address of Reporting Person
CORBY, FRANCIS M., JR.
3600 South Lake Drive
St. Francis, WI 53235
US
2. Issuer Name and Ticker or Trading Symbol
HARNISCHFEGER INDUSTRIES, INC.
HPH
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
10/31/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President for Finance and Administration
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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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 |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON STOCK |7/8/97|D |95,571 |D |(1) |5,500 |D | |
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COMMON STOCK |-- |-- |-- |-- |-- |3,500 |I |(2) |
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COMMON STOCK |-- |-- |-- |-- |-- |961 |I |(3) |
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COMMON STOCK |7/8/97|A |347 |A |$32.250 | |I |(4) |
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COMMON STOCK |10/7/9|A |350 |A |$32.063 |112,665 |I |(4) |
|7 | | | | | | | |
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COMMON STOCK |7/8/97|A |111 |A |$43.00 | |I |(5) |
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COMMON STOCK |10/7/9|A |112 |A |$42.750 |47,894 |I |(5) |
|7 | | | | | | | |
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<CAPTION>
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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 |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice 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 | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Empl. Stock Options (Rig|37.88 |-- |-- |-- -- |A,D|4/13/|10/13|Common Stock|26,000 |-- |26,000 |D |-- |
hts to Buy)(6) | | | | | |97-00|/06 | | | | | | |
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Empl. Stock Options (Rig|31.25 |-- |-- |-- -- |A,D|4/9/9|10/9/|Common Stock|21,000 |-- |21,000 |D |-- |
hts to Buy)(6) | | | | | |6-99 |05 | | | | | | |
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Empl. Stock Options (Rig|26.50 |-- |-- |-- -- |A,D|4/3/9|10/3/|Common Stock|15,000 |-- |15,000 |D |-- |
hts to Buy)(6) | | | | | |5-98 |04 | | | | | | |
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Empl. Stock Options (Rig|19.63 |-- |-- |-- -- |A,D|4/4/9|10/4/|Common Stock|15,000 |-- |15,000 |D |-- |
hts to Buy)(6) | | | | | |4-97 |03 | | | | | | |
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Empl. Stock Options (Rig|17.25 |-- |-- |-- -- |A,D|4/5/9|10/5/|Common Stock|7,500 |-- |7,500 |D |-- |
hts to Buy)(6) | | | | | |3-96 |02 | | | | | | |
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Stock Units(1) |1-for-1 |7/8/9|A |95,571 -- |A,D|(1) |(1) |Common Stock|95,571 |-- | | | |
| |7 | | | | | | | | | | | |
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Stock Units(7) |1-for1 |10/7/|A |298 -- |A,D|(1) |(1) |Common Stock|298 |-- |95,869 |D |-- |
| |97 | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Disposition of restricted stock to issuer in exchange for Stock Units set
forth in Table 2. The Stock Units to be
held in "rabbi" trust until a payment date dependant upon five variables
referred to in the Grant Letter. Payment may
be in the form of cash or stock or a combination of both. (2) Held as
custodian for three minor sons. (3) Held in
trust pursuant to the Harnischfeger Industries, Inc. ("HII") Employee Savings
Plan ("ESP") which is a unitized plan in
which each participant is allocated a certain number of units representing his
proportionate share of the HII stock
fund. The number reported represents the units allocated to the participant's
account as of 10/31/97. (4) Held in
"rabbi" trust pursuant to the HII Executive Incentive Plan. Shares acquired
under the Plan's automatic dividend
reinvestment feature. (5) Held in "rabbi" trust pursuant to the HII
Supplemental Retirement and Stock Funding Plan.
Shares acquired under the Plan's automatic dividend reinvestment feature. (6)
Options granted under the HII 1988
Incentive Stock Plan or 1996 Stock Incentive Plan. Options under the plan
become exercisable in 25% increments at
four 12 month intervals commencing 6 months from the date of grant and expire
10 years after the date of grant.
(7) Acquisition of Stock Units under the dividend equivalent feature of the
Grant Letter referred to in Note (1).
SIGNATURE OF REPORTING PERSON
/s/ Francis M. Corby, Jr.
DATE
12/4/97
