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
CHOKEY, JAMES A.
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
10/31/98
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 Law & Governmental Affairs
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 |7/7/98|A(1)|16 |A |$21.656 |(1) |(1) |(1) |
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COMMON STOCK |10/6/9|A(1)|45 |A |$7.922 |(1) |(1) |(1) |
|8 | | | | | | | |
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COMMON STOCK |10/14/|F(2)|1664 |D |$6.50 |0 | | |
|98 | | | | | | | |
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COMMON STOCK |7/7/98|A(3)|32 |A |$28.875 |(3) |(3) |(3) |
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COMMON STOCK |10/6/9|A(3)|88 |A |$10.563 |(3) |(3) |(3) |
|8 | | | | | | | |
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COMMON STOCK |10/14/|F(4)|4340 |D |$6.50 |7,918(2)(4) |D | |
|98 | | | | | | | |
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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|$40.00 |-- |-- |-- -- |A,D|10/8/|4/8/0|Common Stock|3,000 |-- |3,000 |D |-- |
hts to Buy)(5) | | | | | |96-99|6 | | | | | | |
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Empl. Stock Options (Rig|$37.88 |-- |-- |-- -- |A,D|4/13/|10/13|Common Stock|3,500 |-- |3,500 |D |-- |
hts to Buy)(5) | | | | | |97-00|/06 | | | | | | |
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Empl. Stock Options (Rig|$6.85 |10/14|A |6,004 -- |A,D|10/14|10/14|Common Stock|6,004 |$6.85 |6,004 |D |-- |
hts to Buy)(5) | |/98 | | | |/98 |/08 | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Shares acquired under the automatic dividend reinvestment feature of the
Harnischfeger Industries, Inc. ("HII") Executive Incentive Plan ("EIP")
and, following acquisition, held indirectly through a "rabbi" trust. On
October 14, 1998, shares held in the reporting person's EIP account in such
trust
were distributed to the reporting person and are reflected in the reporting
person's direct end-of period holdings of Common Stock. (2) Shares
withheld from distribution of EIP "rabbi" trust accont to satisfy the reporting
person's tax liability resulting from such distribution. (3) Shares acquired
under the automatic dividend reinvestment feature of the HII Supplemental
Retirement and Stock Funding Plan ("SRP") and, following acquisition, held
indirectly through a "rabbi" trust. On October 14, 1998, shares held in the
reporting person's SRP account in such trust were distributed to the
reporting person and are reflected in the reporting person's direct end-of
period holdings of Common Stock. (4) Shares withheld from distribution of
SRP "rabbi" trust accont to satisfy the reporting person's tax liability
resulting from such distribution. (5) Options granted under the HII 1988
Incentive
Stock Plan and the 1996 Stock Incentive Plan. Options under the plans
generally 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; however, options granted on 10/14/98 were exercisable on
the date of
grant.
SIGNATURE OF REPORTING PERSON
/s/ James A. Chokey
DATE
12/ 8 /98
