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) June 10, 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>



         GATX Capital  Corporation,  an indirect wholly owned  subsidiary of the
Company, is filing a Current Report on Form 8-K, stating the following:

         As previously  reported,  GATX/Airlog Company ("Airlog"),  a California
General Partnership,  of which a subsidiary of the Company is a partner, and the
Company,   filed  a  complaint  for  Declaratory   Judgment  against   Evergreen
International  Airlines,  Inc. ("Evergreen") in the United States District Court
for the Northern  District of California  (No.  C96-2494)  seeking a declaration
that  neither the Company nor Airlog has any  liability to Evergreen as a result
of  the  issuance  of  Airworthiness   Directive  96-01-03  (the  "Airworthiness
Directive")  by the Federal  Aviation  Administration  (the "FAA") in January of
1996. The effect of the Airworthiness  Directive is to reduce  significantly the
amount of freight that three of Evergreen's B747 aircraft may carry. These three
aircraft,  along with a fourth no longer owned by Evergreen,  were modified from
passenger to freight  configuration  by  subcontractors  of Airlog,  pursuant to
contracts  between  Airlog  and  Evergreen  or one of its  affiliates.  The four
aircraft are part of a group of ten B747 aircraft (the "Affected Aircraft") that
were modified by  subcontractors  of Airlog pursuant to a design approved by the
FAA at the time the  modifications  were  made,  and  which are  subject  to the
Airworthiness  Directive.  Evergreen filed an answer and counterclaim  asserting
that Airlog and the Company are liable to it under a number of legal theories in
connection  with the  application  of the  Airworthiness  Directive to the three
aircraft.

         On June 5,  1997,  the  Court  ruled on a Motion  For  Partial  Summary
Judgement  that had been filed by Airlog and the Company with respect to several
of  Evergreen's  counterclaims.  The Court granted the Motion as to  Evergreen's
counterclaim  that  alleged  Airlog  breached  its  warranty  under the Purchase
Agreement  pursuant  to which  Airlog  sold  one of the  converted  aircraft  to
Evergreen,  and denied the Motion as to  Evergreen's  counterclaim  that  Airlog
breached its warranty under the Modification Agreements pursuant to which Airlog
manufactured and installed  freighter  conversion kits with respect to two other
aircraft owned by Evergreen.  The court ruled that the Purchase  Agreement was a
contract  for the sale of goods and that  claims  thereunder  were barred by the
four year  statute of  limitations  under the  California  Commercial  Code (the
"Code").  The Court ruled that the  Modification  Agreements  were  contracts of
services  not  governed  by  the  Code,  and  that  any  applicable  statute  of
limitations  did not  begin to run until  Evergreen  had,  or  should  have had,
knowledge of the alleged  breach.  The Court also denied the Motion with respect
to  Evergreen's  counterclaim  in  which  it  alleged  that  Airlog  negligently
misrepresented  certain facts which purportedly  induced Evergreen to enter into
the Purchase and Modification Agreements.

         The Court's ruling bars Evergreen from  recovering  under its claim for
breach of warranty under the Purchase Agreement,  and permits Evergreen (subject
to  reconsideration  or appeal) to proceed with its claim for breach of warranty
under the Modification Agreements and its claim of negligent  misrepresentation.
The ruling does not represent a decision  that  Evergreen is entitled to prevail
on those claims. Airlog and the Company have other defenses to those claims that
they intend to assert vigorously.





                                       -1-


<PAGE>



         American  International  Airways,  Inc.  ("AIA") has filed a Joint Case
Management  Statement and Proposed Order in the  litigation  which it previously
filed against  Airlog,  Airlog  Management  Corp.  and the Company in the United
States  District  Court  for the  Northern  District  of  California  (97-0378),
specifying the damages it has allegedly  suffered as a result of the application
of the Airworthiness  Directive to the two Affected Aircraft owned by it. In the
pleading,  AIA alleges that it sustained  damages of $ 43,787,954  to date,  and
further  alleges that it continues  to accrue  damages of $ 1,800,000  per month
until the aircraft in question are operational.

         The  Company,  Airlog , Airlog  Management  Company  and GATX  Aircraft
Corporation have entered into a Tolling  Agreement dated as of May 6, 1997, with
The Bank of New York . Under the Tolling Agreement, the parties have agreed that
any defense of expiration of the statute of  limitations or statute of repose or
laches  applicable  to any causes of action  arising out of the sale of goods or
services in connection with the Affected  Aircraft owned by the Bank of New York
by or on behalf of the parties thereto is tolled to and including May 6, 1999.

         The Company has recently been informed that Tower  Airlines,  the owner
of one of the Affected  Aircraft,  has filed a complaint  against Airlog and the
Company.  As of the date of this  report,  no summons  has been served on either
Airlog or the  Company  with  respect to such  action,  and the  Company  has no
further information with respect thereto.

         Although it is impossible to predict the outcome of any litigation with
certainty, Airlog and the Company continue to believe the above described claims
are without merit and that they have adequate defenses thereto.























                                       -2-


<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



June 10, 1997                               By:      /s/ David M. Edwards
                                                     --------------------
                                                     David M. Edwards
                                                     Vice President Finance and
                                                     Chief Financial Officer






























                                       -3-


<PAGE>
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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) June 10, 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
GATX Capital  Corporation,  an indirect wholly owned  subsidiary of the
Company, is filing a Current Report on Form 8-K, stating the following:

         As previously  reported,  GATX/Airlog Company ("Airlog"),  a California
General Partnership,  of which a subsidiary of the Company is a partner, and the
Company,   filed  a  complaint  for  Declaratory   Judgment  against   Evergreen
International  Airlines,  Inc. ("Evergreen") in the United States District Court
for the Northern  District of California  (No.  C96-2494)  seeking a declaration
that  neither the Company nor Airlog has any  liability to Evergreen as a result
of  the  issuance  of  Airworthiness   Directive  96-01-03  (the  "Airworthiness
Directive")  by the Federal  Aviation  Administration  (the "FAA") in January of
1996. The effect of the Airworthiness  Directive is to reduce  significantly the
amount of freight that three of Evergreen's B747 aircraft may carry. These three
aircraft,  along with a fourth no longer owned by Evergreen,  were modified from
passenger to freight  configuration  by  subcontractors  of Airlog,  pursuant to
contracts  between  Airlog  and  Evergreen  or one of its  affiliates.  The four
aircraft are part of a group of ten B747 aircraft (the "Affected Aircraft") that
were modified by  subcontractors  of Airlog pursuant to a design approved by the
FAA at the time the  modifications  were  made,  and  which are  subject  to the
Airworthiness  Directive.  Evergreen filed an answer and counterclaim  asserting
that Airlog and the Company are liable to it under a number of legal theories in
connection  with the  application  of the  Airworthiness  Directive to the three
aircraft.

         On June 5,  1997,  the  Court  ruled on a Motion  For  Partial  Summary
Judgement  that had been filed by Airlog and the Company with respect to several
of  Evergreen's  counterclaims.  The Court granted the Motion as to  Evergreen's
counterclaim  that  alleged  Airlog  breached  its  warranty  under the Purchase
Agreement  pursuant  to which  Airlog  sold  one of the  converted  aircraft  to
Evergreen,  and denied the Motion as to  Evergreen's  counterclaim  that  Airlog
breached its warranty under the Modification Agreements pursuant to which Airlog
manufactured and installed  freighter  conversion kits with respect to two other
aircraft owned by Evergreen.  The court ruled that the Purchase  Agreement was a
contract  for the sale of goods and that  claims  thereunder  were barred by the
four year  statute of  limitations  under the  California  Commercial  Code (the
"Code").  The Court ruled that the  Modification  Agreements  were  contracts of
services  not  governed  by  the  Code,  and  that  any  applicable  statute  of
limitations  did not  begin to run until  Evergreen  had,  or  should  have had,
knowledge of the alleged  breach.  The Court also denied the Motion with respect
to  Evergreen's  counterclaim  in  which  it  alleged  that  Airlog  negligently
misrepresented  certain facts which purportedly  induced Evergreen to enter into
the Purchase and Modification Agreements.

         The Court's ruling bars Evergreen from  recovering  under its claim for
breach of warranty under the Purchase Agreement,  and permits Evergreen (subject
to  reconsideration  or appeal) to proceed with its claim for breach of warranty
under the Modification Agreements and its claim of negligent  misrepresentation.
The ruling does not represent a decision  that  Evergreen is entitled to prevail
on those claims. Airlog and the Company have other defenses to those claims that
they intend to assert vigorously.

                                       -1-
American  International  Airways,  Inc.  ("AIA") has filed a Joint Case
Management  Statement and Proposed Order in the  litigation  which it previously
filed against  Airlog,  Airlog  Management  Corp.  and the Company in the United
States  District  Court  for the  Northern  District  of  California  (97-0378),
specifying the damages it has allegedly  suffered as a result of the application
of the Airworthiness  Directive to the two Affected Aircraft owned by it. In the
pleading,  AIA alleges that it sustained  damages of $ 43,787,954  to date,  and
further  alleges that it continues  to accrue  damages of $ 1,800,000  per month
until the aircraft in question are operational.

         The  Company,  Airlog , Airlog  Management  Company  and GATX  Aircraft
Corporation have entered into a Tolling  Agreement dated as of May 6, 1997, with
The Bank of New York . Under the Tolling Agreement, the parties have agreed that
any defense of expiration of the statute of  limitations or statute of repose or
laches  applicable  to any causes of action  arising out of the sale of goods or
services in connection with the Affected  Aircraft owned by the Bank of New York
by or on behalf of the parties thereto is tolled to and including May 6, 1999.

         The Company has recently been informed that Tower  Airlines,  the owner
of one of the Affected  Aircraft,  has filed a complaint  against Airlog and the
Company.  As of the date of this  report,  no summons  has been served on either
Airlog or the  Company  with  respect to such  action,  and the  Company  has no
further information with respect thereto.

         Although it is impossible to predict the outcome of any litigation with
certainty, Airlog and the Company continue to believe the above described claims
are without merit and that they have adequate defenses thereto.

                                       -2-
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

June 10, 1997                               By:      /s/ David M. Edwards
                                                     --------------------
                                                     David M. Edwards
                                                     Vice President Finance and
                                                     Chief Financial Officer

                                       -3-