SECURITIES AND EXCHANGE COMMISSION
	Washington, D.C.  20549
		  Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No.  7 )*

	INLAND STEEL INDUSTRIES, INC.    (Name of Issuer)

	 Common Stock  (Title of Class of Securities)

	  457472108  (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 pages 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
the section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).

(Continued on following page(s))
Page 1 of 7  Pages 
CUSIP NO.  457472108
		    13G

1  NAME OF REPORTING PERSON 
   S. S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
       Bankmont Financial Corp. (Previously updated by Harris
       Bankcorp, Inc. on behalf of Bankmont Financial Corp.)
       51-0275712

2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                    					 (a) (   )
 See Exhibit               (b) ( X )

3  SEC USE ONLY


4  CITIZENSHIP OR PLACE OF ORGANIZATION
       A Delaware Corporation

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5 SOLE VOTING POWER         5,416

6  SHARED VOTING POWER      0

7 SOLE DISPOSITIVE POWER    5,416 

8 SHARED DISPOSITIVE POWER  0

9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

		 5,416

10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*


11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9         0.05%

12 TYPE OF REPORTING PERSON           HC

*SEE INSTRUCTION BEFORE FILLING OUT

1(a)  NAME OF ISSUER:

  Inland Steel Industries, Inc.

1(b)  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

     30 West Monroe Street
     Chicago, IL  60603

2(a)  NAME OF PERSON FILING:

     Bankmont Financial Corp.(Previously filed by Harris Bankcorp,
     Inc. on behalf of Bankmont Financial Corp.)

2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR RESIDENCE:

     111 West Monroe Street
     P. O. Box 755
     Chicago, IL  60690

2(c) PLACE OF ORGANIZATION OR CITIZENSHIP:

    A Delaware Corporation

2(d)  TITLE OF CLASS OF SECURITIES:

	  Common stock $1 Par Value

2(e) CUSIP NUMBER:

     457472108

3  If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
   check whether the person filing is a:
(a) [  ]  Broker or dealer registered under section 15 of the Act.
(b) [X]  Bank as defined in section 3(a)(6) of the Act.
(c) [  ]  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) [  ]  Employee benefit plan, pension fund which is subject to the
      provisions of the Employee Retirement Income Security Act of 
      1974 or endowment fund; see Sec.240.13d-1(b)(1)(ii)(F).
(g) [X]  Parent holding company, in accordance with Sec.240.13d-
    1(b)(ii)(G).
(h) [  ]  Group, in accordance with Sec240.13d-1(b)(1)(ii)(H).

4  OWNERSHIP:

 (a) Amount Beneficially Owned:   5,416

 (b) Percent of Class:    0.05%

 (c) Number of Shares as to Which Such Person has:
     (i)  Sole power to vote or to direct the vote:  5,416

     (ii)  Shared power to vote or to direct the vote: 0

     (iii) Sole power to dispose or to direct the disposition of:
     	 	  5,416

     (iv)  Shared power to dispose or to direct the disposition of:
	         0


5 OWNERSHIP OF 5 PERCENT OR LESS OF A CLASS.  If this statement is being
  filed to report tha fect that as of the date hereto the reporting person
  has ceased to be the beneficial owner of more than 5 percent of the class
  of securities, check the following:  (X).

6 NOT APPLICABLE

7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
  THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:

   Bankmont Financial Corp., a Parent Holding Company, filing on behalf
   of the following subsidiaries:

	  Harris Bankcorp, Inc., a Parent Holding Company
	  111 West Monroe Street
	  P. O. Box 755
	  Chicago, IL  60690

	  Harris Trust and Savings Bank, a bank
	  111 West Monroe Street
	  P. O. Box 755
	  Chicago, IL  60690

	  Harris Investment Management, Inc., an investment company
	  111 West Monroe Street
	  Chicago, IL  60603

	  Harris Bank St. Charles, a bank
	  1 East Main Street
	  St. Charles, IL  60174


8 NOT APPLICABLE

9 NOT APPLICABLE

10 CERTIFICATION:

By signing below, the undersigned certifies that, to the best of his 
knowledge and belief, the securities referred to above were acquired 
in the ordinary course of business and 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 purpose or effect.

SIGNATURE:  After reasonable inquiry and to the best of his knowledge
and belief, the undersigned certifies that the information set forth in
this statement is true, complete and correct.

Date:  February 13, 1997

BANKMONT FINANCIAL CORP.



BY:  (Alan G. McNally)
	  Alan G. McNally 
	   President 

			SCHEDULE 13G
			  Exhibit 1

Bankmont Financial Corp., a wholly-owned subsidiary of Bank of Montreal,
owns Harris Bankcorp, Inc.  Harris Trust and Savings Bank is a wholly
- -owned subsidiary of Harris Bankcorp, Inc.

Pursuant to Rule 13-d(f)1(iii), Harris Bankcorp, Inc. and Harris Trust
and Savings Bank agree to this filing of Schedule 13G by Bankmont
Financial Corp.  This exhibit is submitted as proof of their agreement and
authorization for Bankmont Financial Corp. to file on their behalf.


Date:  February 13, 1997

HARRIS BANKCORP, INC.


BY:  (Thomas R. Sizer)
	 Thomas R. Sizer    
	    Secretary          


HARRIS TRUST AND SAVINGS BANK


BY:  (Robert J. Fridlel)
    Robert J. Fridell    
     Vice President      


			   SCHEDULE 13G
			     Exhibit 2

Bankmont Financial Corp., its wholly-owned subsidiary Harris Bankcorp,
Inc. and its wholly-owned subsidiary Harris Trust and Savings Bank as
Trustee, no longer hold beneficial ownership of the Common Shares 
which had previously been held by the Harris Trust and Savings Bank
as Trustee of the Inland Steel Industries, Inc. Thrift Plan Employee 
Stock Ownership Plan and the Inland Steel Industries, Inc. Employee 
Stock Ownership Plan.