OMB APPROVAL
OMB NUMBER: 3235-0145
EXPIRES: AUGUST 31, 1991
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE 14.90
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __19___)
______ARNOLD INDUSTRIES, INCORPORATED ______________________
(Name of Issuer)
____________________COMMON STOCK________________________________
(Title of Class of Securities)
_____________________042595108__________________________________
(CUSIP Number)
Check the following box if a fee is being paid with this statement __.
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
CUSIP No.__________ 13G Page _2__of__4_ Pages
1
NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Moriah Fund, Inc.
Daniel R. Efroymson
Real Silk Investments, Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)___
(b)_X_
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING PERSON
WITH
5
SOLE VOTING POWER
D.R. Efroymson 36,130
Moriah Fund, Inc. 949,400
Real Silk Investments, Inc. 600,000
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING PERSON
WITH
6
SHARED VOTING POWER
D.R. Efroymson 125,678
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING PERSON
WITH
7
SOLE DISPOSITIVE POWER
D.R. Efroymson 36,130
Moriah Fund, Inc. 949,400
Real Silk Investments, Inc. 600,000
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING PERSON
WITH
8
SHARED DISPOSITIVE POWER
D.R. Efroymson 125,678
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,711,208
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.6
12
TYPE OF REPORTING PERSON*
Moriah Fund, Inc. CO
D.R. Efroymson IN
Real Silk Investments, Inc. CO
*SEE INSTRUCTION BEFORE FILLING OUT!
Schedule 13-G
Amendment No. 19
ITEM 4. Ownership:
(a) Amount beneficially owned
1,711,208
(b) Percent of Class
6.6%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote:
Daniel R. Efroymson 36,130
Moriah Fund, Inc. 949,400
Real Silk Investments, Inc. 600,000
(ii) Shared power to vote or to direct the vote:
Daniel R. Efroymson 125,678
(iii) Sole power to dispose or direct the disposition of:
Daniel R. Efroymson 36,130
Moriah Fund, Inc. 949,400
Real Silk Investments, Inc. 600,000
(iv) Shared power to dispose or to direct the
disposition of:
Daniel R. Efroymson 125,678
Page 3 of 4
One member of the group, NBD Bancorp, Inc., has assumed responsibility for
filing its Schedule 13G. Therefore, the holdings of NBD Bank, N. A. are not
included in this report.
Many of the shares are held in accounts of which more than one member of
the group has beneficial ownership. These shares are reported as
beneficially owned by each such reporting person under the "shared"
categories resulting in the total shares reported in those categories
exceeding the actual number of shares involved.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
_____________
Date
Daniel R. Efroymson
Moriah Fund, Inc.
Real Silk Investments, Inc.
By
__________________________
Daniel R. Efroymson
President, Real Silk Investments, Inc.
Vice President, Moriah Fund, Inc.
Page 4 of 4
