FORM 5 OMB APPROVAL
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[ ] Form 3 Holdings Reported
[X ] Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act
of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
PIM Holding Co.
1271 Avenue of the Americas, #4200
New York, N.Y. 10020
2. Issuer Name and Ticker or Trading Symbol
Starrett Corporation (SHO)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
February, 1997
5. If Amendment, Date of Original
(month/year)
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify
below)
7. Individual or Joint/Group Reporting
(check applicable line)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
Table I Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
1. Title of Security (Instr. 3)
Common Stock, $1 Par Value
2. Transaction Date (Month/Day/Year)
8/26/96
10/30/96
3. Transaction Code (Instr. 8)
J (shares transferred by Paul Milstein without consideration)
J (same as above)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
Amount (A) or (D) Price
145,000 A -
158,000 A -
5. Amount of Securities Beneficially Owned at End of Issuer's
Fiscal Year
(Instr. 3 and 4)
747,477
220,000
30,643
Total: 998,120
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
D
I
I
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
_____
As Partner Builtland
As Partner Bradley
* If the form is filed by more than one reporting person, see
instruction 4(b)(v)
Table II Derivative Securities Acquired, Disposed of,
or Beneficially Owned (e.g., puts, calls, warrants,
options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion of Exercise Price of Derivative Security
3. Transaction Date
(Month/Day/Year)
4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of
(D)
(Instr. 3, 4, and 5)
(A) (D)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
Date Exercisable Expiration Date
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
Title Amount of Number of Shares
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned at End of
Year
(Instr. 4)
10. Ownership Form of Derivative Security:
Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Explanation of Responses:
PIM Holding Co.
/s/PIM Holding Co.
March 26, 1997
** Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute
Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be
manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of
information contained in this form are not required to respond
unless the form displays a currently valid OMB number.
SEC 2270 (7-96)
