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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.: *
Name of Issuer: Terex Corp. New
Title of Class of Securities: Common Stock
CUSIP Number: 880779103
*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).
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Schaenen Fox Capital Management, LLC
Tax ID: 13-3807121
2. Check the Appropriate Box if a Member of a Group
a.
b.
3. SEC Use Only
4. Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned by Each Reporting Person
With:
5. Sole Voting Power:
1,055,044
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6. Shared Voting Power:
-0-
7. Sole Dispositive Power:
1,055,044
8. Shared Dispositive Power:
-0-
9. Aggregate Amount Beneficially Owned by Each Reporting
Person
1,055,044
10. Check Box if the Aggregate Amount in Row (9) Excludes
Certain Shares
11. Percent of Class Represented by Amount in Row (9)
5.23%
12. Type of Reporting Person
IA
Item 1(a) Name of Issuer: Terex Corp. New (the "Company")
(b)Address of Issuer's Principal Executive Offices:
500 Post Road East
Suite 320
Westport, Connecticut 06880
Item 2(a) - (c). Name, Principal Business Address, and
Citizenship of Persons Filing:
Schaenen Fox Capital Management, LLC ("Schaenen
Fox"), a Delaware limited liability company
200 Park Avenue
Suite 3900
New York, New York 10166
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 880779103
Item 3. This statement is filed pursuant to Rule
13d-1(b)(1).
Schaenen Fox is an investment adviser registered
under Section 203 of the Investment Advisers Act of 1940.
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Item 4. Ownership.
Schaenen Fox beneficially owns 587,202 shares of
the Company's Common Stock and options for 467,842 shares of
Common Stock for a total of 1,055,044 shares (representing
approximately 5.23% of the outstanding shares of such Common
Stock). Schaenen Fox possesses the power to vote, direct
the vote, dispose of and direct the disposition of all
1,055,044 shares.
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
See Item 4.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported 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 the Group.
Not Applicable.
Item 10.
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 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 purpose or
effect.
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.
Schaenen Fox Capital Management, LLC
By: /s/ MICHAEL SCHAENEN January 23, 1998
_________________________ ___________________
Name: Michael Schaenen Date
Title: President
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01414001.AC9
