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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2 )*
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Martin Industries, Inc.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
57326K102
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(CUSIP Number)
*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).
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CUSIP No. 57326K102 13G PAGE 2 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James W. Truitt(1)
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 123,870.5751 shares(1)
OWNED BY ----------------------------------------------------------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 0(1)
WITH ----------------------------------------------------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
123,870.5751 shares(2)
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8 SHARED DISPOSITIVE POWER
0(1)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,870.5751 shares(2)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.43%(3)
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TYPE OF REPORTING PERSON*
12
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 7 pages
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ITEM 1. (A) NAME OF ISSUER: Martin Industries, Inc.
ITEM 1. (B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
301 East Tennessee Street
Florence, Alabama 35630
ITEM 2. (A) NAME OF PERSON FILING: James W. Truitt
ITEM 2. (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
301 East Tennessee Street
Florence, Alabama 35630
ITEM 2. (C) CITIZENSHIP: United States of America
ITEM 2. (D) TITLE OF CLASS OF SECURITIES: Common Stock, $0.01 par value
ITEM 2. (E) CUSIP NO.: 57326K102
ITEM 3. Not applicable
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned:
123,870.5751 Shares (2)
(b) Percent of Class: 1.43% (3)
(c) Number of Shares as to Which Such Person Has:
(i) Sole power to vote or to direct the vote:
123,870.5751 shares (2)
(ii) Shared power to vote or to direct the vote:
0 shares (1)
(iii) Sole power to dispose or to direct the disposition of:
123,870.5751 shares (2)
Page 3 of 7 pages
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(iv) Shared power to dispose or to direct the disposition of:
0 shares (1)
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than 5% of the class of securities, check the
following: [X]
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable. See Note 1 to Notes to Schedule 13G.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
Page 4 of 7 pages
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable. See Item 6 above.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
Not applicable.
Page 5 of 7 pages
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NOTES TO SCHEDULE 13G
(1) Prior to December 31, 1997, Mr. Truitt served as a member of the
committee responsible for administering the Issuer's Employee Stock
Ownership Plan and Related Trust (the "ESOP"), which ESOP held
3,330,050 shares at December 31, 1997. Prior to such date, Mr. Truitt
also acted as a trustee of the ESOP. Mr. Truitt ceased serving as a
member of the administrative committee of the ESOP and as a trustee of
the ESOP effective December 31, 1997 and disclaims beneficial ownership
of the Common Stock held by the ESOP.
(2) Includes 122,500 shares of Common Stock which Mr. Truitt is entitled to
acquire pursuant to options to acquire said shares that are exercisable
in full within 60 days. Does not include 100 shares held by Mr.
Truitt's child, with respect to which shares Mr. Truitt disclaims
beneficial ownership.
(3) Share information for purposes of determining the percentage of
outstanding Common Stock held by the reporting person is based upon
information regarding the number of outstanding shares of Common Stock
as of December 31, 1997 received from the Issuer on February 9, 1998.
Page 6 of 7 pages
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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: February 17, 1998 /s/ JAMES W. TRUITT
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James W. Truitt
