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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000806085-96-000092.txt : 19960711
<SEC-HEADER>0000806085-96-000092.hdr.sgml : 19960711
ACCESSION NUMBER:		0000806085-96-000092
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19960710
SROS:			NONE

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MONTANA POWER CO /MT/
		CENTRAL INDEX KEY:			0000067727
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				810170530
		STATE OF INCORPORATION:			MT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-10895
		FILM NUMBER:		96593095

	BUSINESS ADDRESS:	
		STREET 1:		40 E BROADWAY
		CITY:			BUTTE
		STATE:			MT
		ZIP:			59701
		BUSINESS PHONE:		4067235421

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEHMAN BROTHERS HOLDINGS INC
		CENTRAL INDEX KEY:			0000806085
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				133216325
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		AMERICAN EXPRESS TWR
		STREET 2:		3 WORLD FINANCIAL CNTR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10048
		BUSINESS PHONE:		2125267000

	MAIL ADDRESS:	
		STREET 1:		AMERICAN EXPRESS TOWER 15TH FL
		STREET 2:		2 WORLD TRADE CENTER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10048

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEARSON LEHMAN HUTTON HOLDINGS INC
		DATE OF NAME CHANGE:	19901017
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<DESCRIPTION>MONTANA POWER CO., 13G
<TEXT>


                         Lehman Brothers Holdings Inc.
                           3 World Financial Center, 24th Floor
                                 New York, NY 10285


                                                OFFICE OF THE GENERAL COUNSEL


                                                        July 10, 1996


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549

       Attn:  Document Control--EDGAR

       Re:  SCHEDULE 13G


Dear Commissioner:

         On behalf of Lehman  Brothers  Holdings  Inc.  (the  "Reporting  
Person"), submitted  in  electronic  form for  filing,  is a  Schedule  13G 
relating  to the Reporting  Person's  ownership  of  6.875%  Series  Cumulative
Preferred  Stock of Montana Power Co.

         Lehman  Brothers  Holdings  Inc.  is wiring the  $100.00  fee to the 
SEC's account at Mellon Bank for this filing today.

         If you have any questions  regarding  this filing,  please  contact the
undersigned at (212) 526-1911.


                                                       Very truly yours,

                                                    /s/ Karen C. Manson
                                                      -----------------
                                                        Karen C. Manson
                                                        Vice President
                                                        Secretary
Enclosure

cc:   Montana Power Co.
      National Association of Securities Dealers, Inc.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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