UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  SCHEDULE 13G


                   Under the Securities Exchange Act of 1934

                              (Amendment No.   )*


                          Harnischfeger Industries, Inc.
                                (Name of Issuer)


                          Common Stock, $1.00 par value
                         (Title of Class of Securities)


                                   413345109
                                (CUSIP Number)

Check the following box if a fee is being paid with this statement /X/.  (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 page 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 that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).

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Schedule 13G
CUSIP No. 413345109
Page  2  of  4  Pages

1   NAME OF REPORTING PERSON
    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

    Harris Associates Investment Trust,
    Series Designated The Oakmark Fund        CIK 0000872323
    36-3764846

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                          (a)  
    N/A                                                     / /
                                                          (b)  
                                                            / /

3   SEC USE ONLY



4   CITIZENSHIP OR PLACE OF ORGANIZATION

    Massachusetts

    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH --

            5  SOLE VOTING POWER          None

            6  SHARED VOTING POWER        1,400,000

            7  SOLE DISPOSITIVE POWER     None

            8  SHARED DISPOSITIVE POWER   1,400,000

9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    1,400,000

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

    N/A

11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

    5.5%

12  TYPE OF REPORTING PERSON*

    IV

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Item 1(a)      Name of Issuer:

               Harnischfeger Industries, Inc.

Item 1(b)      Address of Issuer's Principal Executive Offices.

               13400 Bishops Lane
               Brookfield, Wisconsin  53005

Item 2(a)      Name of Person Filing:

               Harris Associates Investment Trust,
               Series Designated The Oakmark Fund

Item 2(b)      Address of Principal Business Office:

               Two North LaSalle Street, Suite 500
               Chicago, Illinois  60602

Item 2(c)      Citizenship:

               The filing person is a Massachusetts business trust.

Item 2(d)      Title of Class of Securities:

               Common Stock, $1.00 par value

Item 2(e)      CUSIP Number:

               413345109

Item 3         Type of Person:

                    (d)  Investment company registered under section 8 of the
                         Investment Company Act


Item 4         Ownership (at December 31, 1993):

                    (a)  Amount owned "beneficially" within the meaning of
                         rule 13d-3:

                         1,400,000

                    (b)  Percent of class:

                         5.5%

                    (c)  Number of shares as to which such person has:

                          (i)    sole power to vote or to direct the vote:  none
                         (ii)    shared power to vote or to direct the vote:
                                 1,400,000
                        (iii)    sole power to dispose or to direct the
                                 disposition of:  none
                         (iv)    shared power to dispose or to direct
                                 disposition of:  1,400,000

Item 5         Ownership of Five Percent or Less of a Class:

               N/A

Item 6         Ownership of More than Five Percent on Behalf of Another Person:

               N/A

Item 7         Identification and Classification of the Subsidiary Which
               Acquired the Security Being Reported on by the Parent Holding
               Company:

               N/A

Item 8         Identification and Classification of Members of the Group:

               N/A

Item 9         Notice of Dissolution of Group:

               N/A

Item 10        Certification:

                    By signing below I certify that, to the best of my knowledge
               and belief, the securities referred to above were acquired in the
               ordinary course of business and were 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.

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                                   Signature

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Date:     February 10, 1994

                                 Harris Associates Investment Trust,
                                 Series Designated The Oakmark Fund


                                 By:/s/ Victor A. Morgenstern
                                        Victor A. Morgenstern
                                        President
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