<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Bandag, Inc., Class A
-----------------------------
(NAME OF ISSUER)
Common Stock
-----------------------------
(Title of Class of Securities)
059815308
-----------------------------
(CUSIP Number)
December 31, 1998
-----------------------------
(Date)
Check the following box if fee is being paid with this statement
----------------------------------------------------------------
<PAGE> 2
CUSIP NO. 059815308
---------
- --------------------------------------------------------------------------------
1) Names of Reporting Persons I.R.S. No. 31-0738296
S.S. or I.R.S. Identification Nos. of BANK ONE CORPORATION
Above Persons
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a
Member of a Group (a)
(See Instructions) ---------------------
(b)
---------------------
- --------------------------------------------------------------------------------
3) SEC Use only
- --------------------------------------------------------------------------------
4) Citizenship or Place of
Organization ILLINOIS
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 845,540
Beneficially ---------------
Owned by (6) Shared Voting Power 0
Each Reporting ---------------
Person with (7) Sole Dispositive Power 841,140
---------------
(8) Shared Dispositive Power 1,000
---------------
- --------------------------------------------------------------------------------
9) Aggregate Amount Beneficially 845,540
Owned by Each Reporting Person ---------------
- --------------------------------------------------------------------------------
10) Check if the Aggregate Amount
in Row (9) Excludes Certain
Shares (See Instructions)
- --------------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row 9 7.69%
---------------
- ------------------------------------------------------------------------------
12) Type of Reporting Person
(See Instructions) HC
----------------
<PAGE> 3
- --------------------------------------------------------------------------------
SEC 13G
SECURITIES AND EXCHANGE COMMISSION
SCHEDULE 13G Amendment No. 1
Item 1(a) Name of Issuer: Bandag, Inc.
---------------------------
Item 1(b) Address of Issuer's principal executive
offices: 2905 North Hwy 61
---------------------------
Muscatine, IA
---------------------------
52761-5886
---------------------------
Item 2(a) Name of person filing: BANK ONE CORPORATION
Item 2(b) Address of principal business office or, One First National Plaza
if none residence: Chicago, IL 60670
Item 2(c) Citizenship: Not Applicable
Item 2(d) Title of class of securities: Common Stock
---------------------------
Item 2(e) CUSIP No.: 059815308
---------------------------
Item 3. This statement is filed pursuant to Rule 13d-1(c).
Item 4. Ownership
This beneficial ownership by BANK ONE CORPORATION with respect to
common shares of Bandag, Inc., Class A
---------------------------------------------------
:
--------------------------------------------------------------------
(a) Amount beneficially owned: 845,540
---------------------------
(b) Percent of class 7.69%
---------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 845,540
--------------
(ii) Shared power to vote or to direct the vote: 0
--------------
(iii) Sole power to dispose or to direct the
disposition of: 841,140
--------------
(iv) Shared power to dispose or to direct the
disposition of: 1,000
--------------
<PAGE> 4
Item 5. Ownership of 5 percent or less of a Class. N/A
---------
Item 6. Ownership of More than 5 percent on Behalf of Another Person. N/A
---------
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
-----------------------------------------------------------------------
NBD BANK (Indiana, NA)
NBD BANK (Michigan)
Pegasus Funds
Item 8. Identification and Classification of Members of the Group. N/A
---------
Item 9. Notice of Dissolution of Group. N/A
---------
Item 10. Certification.
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.
Dated: 2/1/99
-------------
BANK ONE CORPORATION
By: /s/ DAVID J. KUNDERT
David J. Kundert
EXECUTIVE VICE PRESIDENT