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
HANSON, JOHN N.
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
2/22/99
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 and Chief Operating 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 |2/22/9|A(1)|V|21,964 |A |$9.24 |21,964 |I |(1) |
|9 | | | | | | | | |
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COMMON STOCK |-- |-- |-|-- |-- |-- |139,837 |D |-- |
| | |-| | | | | | |
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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|$6.85 |-- |-- |-|-- -- |A,D|10/14|10/14|Common Stock|12,616 |-- |12,616 |D |-- |
ights to Buy) (2) | | | |-| | |/98 |/08 | | | | | | |
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Empl. Stock Options (R|$37.88 |-- |-- |-|-- -- |A,D|4/13/|10/13|Common Stock|31,000 |-- |31,000 |D |-- |
ights to Buy) (2) | | | |-| | |97-00|/06 | | | | | | |
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Empl. Stock Options (R|$31.25 |-- |-- |-|-- -- |A,D|4/9/9|10/13|Common Stock|26,000 |-- |26,000 |D |-- |
ights to Buy) (2) | | | |-| | |6-99 |/06 | | | | | | |
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Empl. Stock Options (R|$15.92 |-- |-- |-|-- -- |A,D|11/29|2/19/|Common Stock|6,191 |-- |6,191 |D |-- |
ights to Buy)(3) | | | |-| | |/94 |03 | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Held in "rabbi" trust pursuant to the Harnischfeger Industries, Inc.
("HII") Supplemental Retirement and Stock
Funding Plan ("SRP"). Acquisiton of shares under the Plan's annual allocation
feature. (2) Options granted under
the 1988 Incentive Stock Plan or the HII 1996 Stock Incentie 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. Options noted as being exercisable as of 10/14/96 were
exercisable on the date of grant. (3)
Options granted under the Joy Technologies Inc. ("Joy") 1991 Stock Option and
Equity Incentive Plan. These
options were converted to options for HII Common
Stock under the Agreement and Plan of Merger entered into between HII and Joy
dated November 29, 1994.
SIGNATURE OF REPORTING PERSON
/s/ John N. Hanson
DATE
4/15/99
