UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
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
4/7/98
5. If Amendment, Date of Original (Month/Year)
5/15/98
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 Filing (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 |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
COMMON STOCK |--` |-- |-|-- |-- |-- |2,750 |D |-- |
| | |-| | | | | | |
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COMMON STOCK |-- |-- |-|-- |-- |-- |917 |I |(1) |
| | |-| | | | | | |
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COMMON STOCK |12/26/|A(2)|V|29,461 |A |31.336 | | | |
|97 | | | | | | | | |
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COMMON STOCK |1/6/98|A(2)|V|870 |A |28.172 | | | |
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COMMON STOCK |4/7/98|A(2)|V|1,023 |A |24.047 |246,841 |I |(2) |
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COMMON STOCK |12/26/|A(3)|V|12,745 |A |41.780 | | | |
|97 | | | | | | | | |
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COMMON STOCK |1/6/98|A(3)|V|471 |A |37.563 | | | |
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COMMON STOCK |4/7/98|A(3)|V|553 |A |32.063 |178,003 |I |(3) |
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COMMON STOCK |1/6/98|A(5)|V|635 |A |28.172 | | | |
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COMMON STOCK |4/7/98|A(5)|V|746 |A |24.047 |180,166 |I |(6) |
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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 | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price 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 |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Empl. Stock Options (R|31.25 |-- |-- |-|-- -- |A,D|4/9/9|10/9/|Common Stock|35,000 |-- |35,000 |D |-- |
ights to Buy)(4) | | | |-| | |6-99 |05 | | | | | | |
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Empl. Stock Options (R|26.50 |-- |-- |-|-- -- |A,D|4/3/9|10/3/|Common Stock|12,500 |-- |12,500 |D |-- |
ights to Buy)(4) | | | |-| | |5-98 |04 | | | | | | |
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Empl. Stock Options (R|19.63 |-- |-- |-|-- -- |A,D|4/4/9|10/4/|Common Stock|6,250 |-- |6,250 |D |-- |
ights to Buy)(4) | | | |-| | |4-97 |03 | | | | | | |
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Empl. Stock Options (R|37.88 |-- |-- |-|-- -- |A,D|4/13/|10/13|Common Stock|42,000 |-- |42,000 |D |-- |
ights to Buy)(4) | | | |-| | |97-00|/98 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Held in trust pursuant to the Harnischfeger Industries, Inc. ("HII")
Employee Savings Plan. (2) Held in "rabbi" trust pursuant to the HII
Executive
Incentive Plan ("EIP"). Acquisition of shares under the Plan's annual
allocation and automatic dividend reinvestment features. (3) Held in "rabbi"
trust
pursuant to the HII Supplemental Retirement and Stock Funding Plan ("SRP").
Acquisition of shares under the Plan's annual allocation and automatic
dividend reinvestment features. (4) Options granted under the 1988 Incentive
Stock Plan and the 1996 Stock Incentive Plan. Options under the plans
become exercisable in 25% increments at four 12 months intervals commencing 6
months from the date of grant and expire 10 years after the date of
grant. (5) Shares acquired under the automatic dividend reinvestment feature
of the reporting person's Grant Letter. (6) 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
