SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
AMENDMENT NO. 1
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Walter Industries, Inc.
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(NAME OF ISSUER)
Common Stock, par value $.01 per share
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(TITLE OF CLASS OF SECURITIES)
93317 Q 10 5
(CUSIP NUMBER)
Gary P. Kreider, Esq.
Keating, Muething & Klekamp, P.L.L.
One East Fourth Street, 18th Floor
Cincinnati, Ohio 45202
(513) 579-6411
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
January 16, 1998
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(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with this statement. [ ]
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CUSIP NO. 93317 Q 10 5 13D PAGE 2 OF 10 PAGES
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Asbestos Settlement Trust 59-3304089
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
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7 SOLE VOTING POWER
NUMBER OF
SHARES 10,941,326
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
10,941,326
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,941,326
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.9%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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This Amendment No. 1 to Schedule 13D amends Item 4 in the following respect.
ITEM 4. PURPOSE OF TRANSACTION.
The Trust has determined to sell approximately 10,940,000 shares of
Walter Industries, Inc. Common Stock pursuant to a registered underwritten
offering and to grant the Underwriters an over-allotment option to purchase an
additional approximately 1,800,000 shares of Common Stock.
ITEM 7. EXHIBITS
4 Power of Attorney (filed herewith)
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth herein is true, complete and correct.
ASBESTOS SETTLEMENT TRUST
Dated: January 16, 1998 BY: /S/ Sharon M. Meadows
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Sharon Meadows
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EXHIBIT 24
POWER OF ATTORNEY
Asbestos Settlement Trust hereby appoints KEVIN E. IRWIN and GARY
P. KREIDER, or either of them, as its true and lawful attorney-in-fact to sign
on its behalf and to file with the Securities and Exchange Commission any
schedules or other filings or amendments thereto made by me pursuant to Section
13(d) of the Securities Exchange Act of 1934.
IN WITNESS WHEREOF, Asbestos Settlement Trust has caused this Power
of Attorney to be duly executed in its name and on its behalf this16th day of
January, 1998.
ASBESTOS SETTLEMENT TRUST
By: /S/ Sharon M. Meadows
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Sharon Meadows
