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                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549


                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934
                               (Amendment No. 1)

                               ARVIN INDUSTRIES                   
                     -------------------------------------
                               (Name of Issuer)
 
                    COMMON STOCK par value $2.50 per share
                    --------------------------------------
                        (Title of Class of Securities)

                                    043339100                      
                     -------------------------------------
                                (CUSIP Number)



  Check the following box if a fee is being paid with this statement [ ].       
  (A fee is not required only if the filing person: (1) has a previous
  statement on file reporting beneficial ownership of more than five percent of
  the class of securities described in Item 1; and (2) has filed no amendment
  subsequent thereto reporting beneficial ownership of five percent or less of
  such class.) (See Rule 13d-7.)

*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 043339100                                     13G page 2 of 6

_______________________________________________________________________
[1] Name of Reporting Persons S.S. or I.R.S. Identification Nos.

              Cincinnati Financial Corporation  31-0746871             
_______________________________________________________________________
[2] Check The Appropriate Box If A Member Of A Group
              (a) _______
              (b) _______                                              
_______________________________________________________________________
[3] SEC Use Only


_______________________________________________________________________
[4] Citizenship or Place of Organization

                          Wilmington, Delaware                         
_______________________________________________________________________
  Number of           [5]Sole Voting Power         1,052,400*
   Shares            __________________________________________________
                      [6]Shared Voting Power       -0-
  Beneficially
   Owned By

    Each             __________________________________________________
  Report              [7]Sole Dispositive Power    1,052,400
   Perso
    With             __________________________________________________
                      [8]Shared Dispositive Power  -0-

_______________________________________________________________________
[9]  Aggregate Amount Beneficially Owned By Each Reporting Person

                                1,052,400                              
_______________________________________________________________________
[10] Check Box
 If The Aggregate Amount In Row [9]Excludes Certain Shares

                                   N/A                                 
_______________________________________________________________________
[11] Percent Of Class Represented By Amount In Row 9

                                  4.610%                              
_______________________________________________________________________
[12] Type Of Reporting Person*

                                 IC                                    
_______________________________________________________________________


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                                                                 13G Page 3 of 6

Item 1(a) Name of Issuer: ARVIN INDUSTRIES


Item 1(b) Address of Issuer's Principal Executive Offices:
                          1531 - 13th Street
                          Columbus, Indiana  47201

Item 2(a) Name of Person Filing:  Cincinnati Financial Corporation


Item 2(b) Address of Principal Business Office:
                          P.O. Box 145496
                          Cincinnati, Ohio 45250-5496 

Item 2(c) Citizenship:    Delaware


Item 2(d) Title of Class of Securities:

            Common stock, par value $2.50 per share                           
Item 2(e) CUSIP Number:
                          043339100

                       Item 3.  Type of Reporting Person

(a)[ ] Broker or Dealer registered under Section 15 of the Act
(b)[ ] Bank as defined in Section 3(a)(6) of the Act
(c)[x] Insurance Company as defined in Section 3(a)(19) of the Act
(d)[ ] Investment Company registered under Section 8 of the Investment
       Company Act
(e)[ ] Investment Adviser registered under Section 203 of the
       Investment Advisers Act of 1940
(f)[ ] Employees Benefit Plan, Pension Fund which is subject to the
       provisions of the Employee Retirement Income Security Act of
       1947 or Endowment Fund
(g)[ ] Parent Holding Company, in accordance with 240.13d-b(ii)(G)
(h)[ ] Group, in accordance with 240.13d-1(b)(1)(ii)(H)

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                                                                 13G Page 4 of 6

                             Item 4     Ownership:


(a) Amount Beneficially Owned: 1,052,400


(b) Percent of Class:             4.610%


(c) Number of Shares as to which CFC has:

    (i)  sole power to vote or to direct the vote
         ...........................................    1,052,400

   (ii)  shared power to vote or to direct the vote
         ...........................................    -0-

  (iii)  sole power to dispose or to direct
         the disposition of ........................    1,052,400

   (iv)  shared power to dispose or to direct
         the disposition of .........................    -0-



         Item 5.  Ownership of Five Percent or Less of a Class:

                                   4.610%

         Item 6.  Ownership of More than Five Percent on
                  Behalf of Another Person.

                                      N/A

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                                                                 13G Page 5 of 6


    Item 7. Identification and Classification of the Subsidiary which
        Acquired the Security Being Reported on by the Parent Holding
        Company:


This Schedule 13G is being filed by the Cincinnati Financial Corporation
for itself or, if item 3(g) has been checked, as a parent holding
company with respect to the holding of its following subsidiaries:

         [ ] Cincinnati Financial Corporation(31-0746871), a parent
             holding company, in accordance with 240.13d-(b)(ii)(G)

         [x] Cincinnati Insurance Company(31-0542366), an insurance
             company as defined in Section 3(a)(19) of the Act

         [ ] Cincinnati Casualty Company(31-0826946), an insurance
             company as defined in Section 3(a)(19) of the Act

         [ ] Cincinnati Life Insurance Company(31-1213778), an insurance
             company as defined in Section 3(a)(19) of the Act

         [ ] Cincinnati Financial Retirement Plan Trust(31-0746871), an
             employee benefit plan, pension fund which is subject to the
             provisions of the Employee Retirement Income Security Act of
             1947 or Endowment Fund

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                                                                 13G Page 6 of 6


   Item 8.   Identification and Classification of Members of the Group:


   Item 9.   Notice of Dissolution of Group:


   Item 10.  Certification:

             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 of 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 purposes or
             effect.


             Signature

             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 1, 1994


             The Cincinnati Financial Corporation

             By /s/  ROBERT J. DRIEHAUS
                ---------------------------------
                Robert J. Driehaus
                Financial Vice President


            * This stock is held in custody by The Fifth Third Bank

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