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 
                              ________________ 
  
                                 JULY 19, 1998
              DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) 
  
  
                               NIAGARA CORPORATION
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER) 
  
  

            DELAWARE                   0-22206                59-3182820   
  (STATE OR OTHER JURISDICTION     (COMMISSION FILE        I.R.S. EMPLOYER 
       OF INCORPORATION)              NUMBER)             IDENTIFICATION NO.)
  
                             667 MADISON AVENUE 
                             NEW YORK, NEW YORK         
                  (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) 
  
                                   10021   
                                 (ZIP CODE) 
  
                              (212) 317-1000                     
            (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) 
  
                               NOT APPLICABLE                      
                 (FORMER NAME OR FORMER ADDRESS, IF CHANGED 
                             SINCE LAST REPORT)




           ITEM 5.   OTHER EVENTS. 
  
           On July 19, 1998, the hourly employees at the Hammond, Indiana
 facility of LaSalle Steel Company ("LaSalle"), a subsidiary of Niagara
 Corporation (the "Registrant"), voted to accept LaSalle's last proposal for
 a new three-year agreement and end their nine-week strike.  A copy of the
 Registrant's press release with respect to the foregoing is attached hereto
 as Exhibit 99.1. 
  
  
           ITEM 7.   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
                     AND EXHIBITS. 
  
           (c)  Exhibits. 
  
 99.1      Press Release dated July 20, 1998. 



                                 SIGNATURE 
  
  
           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 hereunto duly authorized. 
  
  
                                    NIAGARA CORPORATION 
  
  
                                    By: /s/ Marc J. Segalman     
                                       --------------------------
                                       Name:  Marc J. Segalman 
                                       Title: Vice President 
  
 Date:  July 29, 1998 



                               EXHIBIT INDEX 
  
  
      Exhibit No.           Description                       Page No. 
  
         99.1          Press Release dated July 20,                6  
                       1998.
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 2913}]
{"company-data": {"conformed-name": "NIAGARA CORP", "cik": "0000710976", "assigned-sic": "3317", "irs-number": "593182820", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18101", "film-number": "98672918"}, "business-address": {"street1": "667 MADISON AVE", "city": "NEW YORK", "state": "NY", "zip": "10021", "phone": "2123171000"}, "former-company": {"former-conformed-name": "PALM BEACH GAS CORP", "date-changed": "19890720"}}
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 
                              ________________ 
  
                                 JULY 19, 1998
              DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) 
  
  
                               NIAGARA CORPORATION
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER) 
  
  

            DELAWARE                   0-22206                59-3182820   
  (STATE OR OTHER JURISDICTION     (COMMISSION FILE        I.R.S. EMPLOYER 
       OF INCORPORATION)              NUMBER)             IDENTIFICATION NO.)
  
                             667 MADISON AVENUE 
                             NEW YORK, NEW YORK         
                  (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) 
  
                                   10021   
                                 (ZIP CODE) 
  
                              (212) 317-1000                     
            (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) 
  
                               NOT APPLICABLE                      
                 (FORMER NAME OR FORMER ADDRESS, IF CHANGED 
                             SINCE LAST REPORT)

           ITEM 5.   OTHER EVENTS. 
  
           On July 19, 1998, the hourly employees at the Hammond, Indiana
 facility of LaSalle Steel Company ("LaSalle"), a subsidiary of Niagara
 Corporation (the "Registrant"), voted to accept LaSalle's last proposal for
 a new three-year agreement and end their nine-week strike.  A copy of the
 Registrant's press release with respect to the foregoing is attached hereto
 as Exhibit 99.1. 
  
  
           ITEM 7.   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
                     AND EXHIBITS. 
  
           (c)  Exhibits. 
  
 99.1      Press Release dated July 20, 1998. 

                                 SIGNATURE 
  
  
           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 hereunto duly authorized. 
  
  
                                    NIAGARA CORPORATION 
  
  
                                    By: /s/ Marc J. Segalman     
                                       --------------------------
                                       Name:  Marc J. Segalman 
                                       Title: Vice President 
  
 Date:  July 29, 1998 

                               EXHIBIT INDEX 
  
  
      Exhibit No.           Description                       Page No. 
  
         99.1          Press Release dated July 20,                6  
                       1998.