FIRM HAS ALLEGHENY INT'L &lt;AG> PREFERRED STAKE

  Spear, Leeds and Kellogg, a New York
  brokerage partnership, said it has acquired 136,300 shares of
  Allegheny International Inc's 11.25 dlr convertible preferred
  stock, or 7.1 pct of the total outstanding.
      In a filing with the Securities and Exchange Commission,
  Spear Leeds said it bought the stake for 11.7 mln dlrs as part
  of its normal trading activities.
  

