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
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
GRADE, JEFFERY T.
HARNISCHFEGER INDUSTRIES, INC.
3600 South Lake Drive
St. Francis, WI 53235
USA
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)
12/4/97
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Chairman and Chief Executive Officer
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 |7/1/97|D(1)|178,229 |D |(1) |2,750 |D | |
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COMMON STOCK |7/8/97|A(2)|664 |A |$32.25 | | | |
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COMMON STOCK |10/7/9|A(2)|670 |A |$32.063 |215,487 |I |(2) |
|7 | | | | | | | |
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COMMON STOCK |-- |-- |-- |-- |-- |917 |I |(3) |
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COMMON STOCK |7/8/97|A(4)|380 |A |$43.00 | | | |
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COMMON STOCK |10/7/9|A(4)|383 |A |$42.75 |164,234 |I |(4) |
|7 | | | | | | | |
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COMMON STOCK |7/1/97|A(1)|178,229 |A |(1) | | | |
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COMMON STOCK |10/7/9|A(6)|556 |A |$32.063 |178,785 |I |(7) |
|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|42,000 |-- |42,000 |D |-- |
hts to Buy) (5) | | | | | |97-00|/06 | | | | | | |
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Empl. Stock Options (Rig|$31.25 |-- |-- |-- -- |A,D|4/9/9|10/9/|Common Stock|35,000 |-- |35,000 |D |-- |
hts to Buy) (5) | | | | | |6-99 |05 | | | | | | |
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Empl. Stock Options (Rig|$26.50 |-- |-- |-- -- |A,D|4/3/9|10/3/|Common Stock|12,500 |-- |12,500 |D |-- |
hts to Buy) (5) | | | | | |5-98 |04 | | | | | | |
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Empl. Stock Options (Rig|$19.63 |-- |-- |-- -- |A,D|4/4/9|10/4/|Common Stock|6,250 |-- |6,250 |D |-- |
hts to Buy) (5) | | | | | |4-97 |03 | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Concurrent disposition of restricted stock to issuer under a Grant Letter
agreement between the issuer and the reporting person and acquisition
from the issuer of shares held indirectly through a "rabbi" trust. (2) Held
in "rabbi" trust pursuant to the Harnischfeger Industries, Inc. ("HII")
Executive Incentive Plan ("EIP"). Shares acquired under the Plan's automatic
dividend reinvestment feature. (3) Held in trust pursuant to the HII
Employees' Savings Plan which is a unitized plan in which each participant is
allocated a certain number of units representing that participant's
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 Supplemental Retirement and Stock Funding
Plan ("SRP"). Shares acquired under the Plan's automatic dividend
reinvestment feature. (5) Options granted under the HII 1988 Incentive Stock
Plan or the HII 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. (6) Shares acquired under the automatic dividend reinvestment feature
of the reporting person's grant letter. (7) Shares held indirectly in the
reporting person's Grant Letter "rabbi" trust account.
SIGNATURE OF REPORTING PERSON
/s/ Jeffery T. Grade
DATE
12/8/98
