INVESTOR HAS 8.0 PCT OF ALLEGHENY INT'L <AG>
A group of firms and funds
controlled by New York investor Mario Gabelli said it has
acquired the equivalent of 882,507 shares of Allegheny
International, or 8.0 pct of the total outstanding.
    In a filing with the Securities and Exchange Commission,
the Gabelli group said it bought the stake as part of its 
business and not in an effort to seek control of the company.
    It said it may by more shares or sell some or all of its
current stake. The stake includes 782,000 common shares and
cumulative convertible preferred stock which could be converted
into 100,507 common shares.
 Reuter
