CUSIP NO. 374508109 13G Page 1 of 4 Pages
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3 )*
GIANT INDUSTRIES, INC.
(Name of Issuer)
COMMON
(Title of Class of Securities)
374508109
(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 of 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).
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CUSIP NO. 374508109 13G Page 2 of 4 Pages
1 NAME OF REPORTING PERSON
SS. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INGALLS & SNYDER LLC
13-5156620
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
NUMBER OF 5 SOLE VOTING POWER 4,500
SHARES
BENEFICIALLY 6 SHARED VOTING POWER -0-
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER 572,719
REPORTING
PERSON 8 SHARED DISPOSITIVE POWER -0-
WITH
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
572,719
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2% (Based on 11,032,567 shares outstanding as of October 31, 1997
pursuant to the Company's Form 10Q for the period ended September 30,
1997).
12 TYPE OF REPORTING PERSON *
BD
SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 374508109 13G Page 3 of 4 Pages
Under the Securities Exchange Act of 1934
Item 1. SECURITY AND ISSUER
(a) Title of Class of Equity Securities: Common
(b) Name and Address of Issuer's Giant Industries, Inc.
Principal Executive Offices: 23733 North Scottsdale Rd
Scottsdale, AZ 85255
Item 2. IDENTITY AND BACKGROUND
(a) Name: INGALLS & SNYDER LLC
(b) Address of Principal Business Office: 61 Broadway
New York, NY 10006
(c) Citizenship: New York Limited
Liability Company
(d) Title of Class of Securities: Common
(e) Cusip Number 374508109
Item 3. If this statement is filed pursuant to rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) Broker or Dealer registered under Section 15 of the Act
Item 4. Ownership
(a) 572,719
(b) 5.2% (Based on 11,032,567 shares outstanding as of October 31, 1997
pursuant to the Company's Form 10Q for the period ended September 30,
1997).
(c)
(I) 4,500
(II) -0-
(III) 572,719
(IV) -0-
Item 5. Ownership of Five Percent or Less of a Class
Not Applicable
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CUSIP NO. 374508109 13G Page 4 of 4 Pages
item 6. Ownership of More than five Percent on Behalf of Another
Person
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
SIGNATURE
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.
February 5, 1998
Joseph F. Antizzo,
Managing Director
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