SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549





                                    FORM 8-K
                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


                   --------------------------------------------



        Date of Report (Date of Earliest Event Reported) September 9, 1997




                                GATX CORPORATION
             (Exact Name of Registrant as Specified in its Charter)






         New York                        1-2328                 36-1124040
(State or other jurisdiction    (Commission file number)     (I.R.S. employer
       of incorporation)                                  identification number)





500 West Monroe Street, Chicago, Illinois 60661-3676
(Address of principal executive offices)

Registrant's telephone number, including area code (312) 621-6200



<PAGE>



Item 5. Other Events

         Yesterday, GATX Corporation issued the following press release:

         "Responding to a jury verdict issued in New Orleans,  Louisiana, today,
GATX  Corporation  stated  that it will seek relief from the trial court and, if
necessary,  appeal what it considers to be  excessive  compensatory  damages and
unwarranted punitive damages.

         "The jury  verdict  arises out of a lawsuit  against  nine  defendants,
including two subsidiaries of GATX Corporation,  relating to a leak of butadiene
from a  railcar  which  resulted  in a fire  that  occurred  in New  Orleans  in
September 1987. The fire resulted in no deaths or significant  injuries and only
minimal property damage, but resulted in the overnight evacuation of a number of
residents of the surrounding area.

         "The jury awarded  compensatory  damages  totaling  approximately  $1.9
million,  plus  interest  from the date of the  accident,  to twenty  individual
plaintiffs,  approximately one-third of which would be borne by General American
Transportation Corporation and GATX Terminals Corporation. In addition, the jury
made five separate punitive damage awards against five defendants  totaling $3.4
billion of which $190 million is against GATX  Terminals;  the other four awards
were against  non-GATX  companies.  While the  punitive  damage award covers the
entire class of plaintiffs,  the case is the first of many that must be tried to
determine the compensatory  damages,  if any, allocable to each of the remaining
plaintiffs who claim to have been affected by the incident.

         "Although 8,000 claims have been made,  GATX believes that damages,  if
any, awarded to the remaining plaintiffs should average  substantially less than
those awarded to the initial twenty plaintiffs.

         "GATX  believes  that the  compensatory  damages  awarded to the twenty
plaintiffs  are  excessive.  GATX further  believes  that there is absolutely no
basis for the award of punitive  damages  against GATX in any amount.  GATX will
ask the trial court to  review and vacate or  appropriately  limit the  judgment
and, if necessary, it will vigorously appeal any final judgment."




                                        1

<PAGE>




                                   Signatures


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, duly authorized.

                                                     GATX Corporation



September 9, 1997                           By:      /s/ David M. Edwards
                                                     --------------------
                                                     David M. Edwards
                                                     Vice President Finance and
                                                     Chief Financial Officer

























                                        2

<PAGE>
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{"company-data": {"conformed-name": "GATX CORP", "cik": "0000040211", "assigned-sic": "4700", "irs-number": "361124040", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "file-number": "001-02328", "film-number": "97677546"}, "business-address": {"street1": "500 W MONROE  ST", "city": "CHICAGO", "state": "IL", "zip": "60661", "phone": "3126216200"}, "former-company": {"former-conformed-name": "GENERAL AMERICAN TRANSPORTATION CORP", "date-changed": "19750722"}}
SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                   --------------------------------------------

        Date of Report (Date of Earliest Event Reported) September 9, 1997

                                GATX CORPORATION
             (Exact Name of Registrant as Specified in its Charter)

         New York                        1-2328                 36-1124040
(State or other jurisdiction    (Commission file number)     (I.R.S. employer
       of incorporation)                                  identification number)

500 West Monroe Street, Chicago, Illinois 60661-3676
(Address of principal executive offices)

Registrant's telephone number, including area code (312) 621-6200
Item 5. Other Events

         Yesterday, GATX Corporation issued the following press release:

         "Responding to a jury verdict issued in New Orleans,  Louisiana, today,
GATX  Corporation  stated  that it will seek relief from the trial court and, if
necessary,  appeal what it considers to be  excessive  compensatory  damages and
unwarranted punitive damages.

         "The jury  verdict  arises out of a lawsuit  against  nine  defendants,
including two subsidiaries of GATX Corporation,  relating to a leak of butadiene
from a  railcar  which  resulted  in a fire  that  occurred  in New  Orleans  in
September 1987. The fire resulted in no deaths or significant  injuries and only
minimal property damage, but resulted in the overnight evacuation of a number of
residents of the surrounding area.

         "The jury awarded  compensatory  damages  totaling  approximately  $1.9
million,  plus  interest  from the date of the  accident,  to twenty  individual
plaintiffs,  approximately one-third of which would be borne by General American
Transportation Corporation and GATX Terminals Corporation. In addition, the jury
made five separate punitive damage awards against five defendants  totaling $3.4
billion of which $190 million is against GATX  Terminals;  the other four awards
were against  non-GATX  companies.  While the  punitive  damage award covers the
entire class of plaintiffs,  the case is the first of many that must be tried to
determine the compensatory  damages,  if any, allocable to each of the remaining
plaintiffs who claim to have been affected by the incident.

         "Although 8,000 claims have been made,  GATX believes that damages,  if
any, awarded to the remaining plaintiffs should average  substantially less than
those awarded to the initial twenty plaintiffs.

         "GATX  believes  that the  compensatory  damages  awarded to the twenty
plaintiffs  are  excessive.  GATX further  believes  that there is absolutely no
basis for the award of punitive  damages  against GATX in any amount.  GATX will
ask the trial court to  review and vacate or  appropriately  limit the  judgment
and, if necessary, it will vigorously appeal any final judgment."

                                        1
Signatures

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, duly authorized.

                                                     GATX Corporation

September 9, 1997                           By:      /s/ David M. Edwards
                                                     --------------------
                                                     David M. Edwards
                                                     Vice President Finance and
                                                     Chief Financial Officer

                                        2