UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
(X) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Ashland Inc.
1000 Ashland Drive
Russell, KY 41169
2. Issuer Name and Ticker or Trading Symbol
Ashland Coal, Inc.
ACI
3. IRS or Social Security Number of Reporting Person (Voluntary)
61-0122250
4. Statement for Month/Year
June 30, 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock |7-1-97|J (1| |6,923,000 |D | |0 |D | |
| |) | | | | | | | |
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Common Stock |7-1-97|J (2| |648,307 |D | |0 |D | |
| |) | | | | | | | |
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Common Stock |7-1-97|J (3| |150 |D | |0 |D | |
| |) | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
1. Exchanged for an equal number of shares of common stock of Arch Coal, Inc.,
having a value of $28.50 per share, pursuant to the merger of Ashland Coal,
Inc. and a wholly-owned subsidiary
of Arch Coal, Inc. ("the
Merger").
2. Shares held in the Ashland Coal, Inc. Dividend Reinvestment Plan exchanged
for an equal number of shares of common stock, having a value of $28.50 per
share, to be held in the Arch Coal,
Inc. Dividend Reinvestment Plan, pursuant to the
Merger.
3. Shares of Class B Preferred Stock exchanged for 3,075,000 shares of Arch
Coal, Inc. common stock, having a value of $28.50 per share, pursuant to the
Merger.
SIGNATURE OF REPORTING PERSON
Thomas L. Feazell, Senior VP, General Counsel and Secretary
DATE
July 9, 1997
