================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13D
                    Under the Securities Exchange Act of 1934
                                   ----------

                                (Amendment No. 6)

                          INLAND STEEL INDUSTRIES, INC.
                                (Name of Issuer)

                     Common Stock, $1.00 par value per share
                         (Title of class of securities)

                                    457472108
                                 (CUSIP number)

                            Gary K. Duberstein, Esq.
                             Greenway Partners, L.P.
                           277 Park Avenue, 27th Floor
                     New York, New York 10172 (212) 350-5100
            (Name, address and telephone number of person authorized
                     to receive notices and communications)

                                 August 12, 1998
             (Date of event which requires filing of this statement)

If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[_].

Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.

                        (Continued on following page(s))
                              (Page 1 of 16 Pages)

================================================================================


NYFS11...:\92\56392\0003\91\SCH8058W.18C

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D               Page 2 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON              GREENWAY PARTNERS, L.P.
                   I.R.S. IDENTIFICATION NO.             13-3714238
                   OF ABOVE PERSON (ENTITIES ONLY)

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:              830,000
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:                  0
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:         830,000
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:             0
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    830,000
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     1.7%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            PN
- ------------------ -------------------------------------------------------------






                                       2

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D               Page 3 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GREENTREE PARTNERS, L.P.
                   I.R.S. IDENTIFICATION NO.            13-3752875
                   OF ABOVE PERSON (ENTITIES ONLY)

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:              355,000
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:                  0
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:         355,000
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:             0
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    355,000
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     0.7%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            PN
- ------------------ -------------------------------------------------------------





                                       3

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D               Page 4 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON            GREENHOUSE PARTNERS, L.P.
                   I.R.S. IDENTIFICATION NO.            13-3793447
                   OF ABOVE PERSON (ENTITIES ONLY)

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                    0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:            830,000
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:               0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:       830,000
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    830,000
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     1.7%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            PN
- ------------------ -------------------------------------------------------------





                                       4

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D               Page 5 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GREENHUT, L.L.C.
                   I.R.S. IDENTIFICATION NO.            13-3793450
                   OF ABOVE PERSON (ENTITIES ONLY)

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                    0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:            355,000
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:               0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:       355,000
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    355,000
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     0.7%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            OO
- ------------------ -------------------------------------------------------------





                                       5

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D               Page 6 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GREENBELT CORP.
                   I.R.S. IDENTIFICATION NO.            13-3791931
                   OF ABOVE PERSON (ENTITIES ONLY)

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:            Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:              2,939,600
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:                  0
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:         2,939,600
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:             0
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    2,939,600
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     6.0%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            CO
- ------------------ -------------------------------------------------------------





                                       6

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D               Page 7 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GREENSEA OFFSHORE, L.P.
                   I.R.S. IDENTIFICATION NO.
                   OF ABOVE PERSON

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:      Cayman Islands
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:              630,700
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:                  0
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:         630,700
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:             0
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    630,700
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     1.3%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            PN
- ------------------ -------------------------------------------------------------





                                       7

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D               Page 8 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON            GREENHUT OVERSEAS, L.L.C.
                   I.R.S. IDENTIFICATION NO.            13-3868906
                   OF ABOVE PERSON (ENTITIES ONLY)

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            WC, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:      Delaware
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                    0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:            630,700
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:               0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:       630,700
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                    630,700
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     1.3%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            OO
- ------------------ -------------------------------------------------------------





                                       8

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D               Page 9 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             ALFRED D. KINGSLEY
                   I.R.S. IDENTIFICATION NO.
                   OF ABOVE PERSON (ENTITIES ONLY)

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            PF, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:      United States
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                28,000
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:           4,755,300
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:           28,000
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:      4,755,300
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                   4,783,300
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     9.7%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            IN
- ------------------ -------------------------------------------------------------





                                       9

- -----------------------------------           ----------------------------------
CUSIP No. 457472108                    13D              Page 10 of 16 Pages
- -----------------------------------           ----------------------------------

- ------------------ -------------------------------------------------------------
        1          NAME OF REPORTING PERSON             GARY K. DUBERSTEIN
                   I.R.S. IDENTIFICATION NO.
                   OF ABOVE PERSON (ENTITIES ONLY)

- ------------------ -------------------------------------------------------------
        2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:     (a) [x]
                                                                         (b) [_]
- ------------------ -------------------------------------------------------------
        3          SEC USE ONLY
- ------------------ -------------------------------------------------------------
        4          SOURCE OF FUNDS:                            PF, AF, OO
- ------------------ -------------------------------------------------------------
        5          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
                   PURSUANT TO ITEM 2(d) OR 2(e):                            [_]
- ------------------ -------------------------------------------------------------
        6          CITIZENSHIP OR PLACE OF ORGANIZATION:      United States
- --------------------------------------------------------------------------------
    NUMBER OF           7     SOLE VOTING POWER:                    0
      SHARES
                      ------- --------------------------------------------------
   BENEFICIALLY         8     SHARED VOTING POWER:          4,755,300
     OWNED BY
                      ------- --------------------------------------------------
       EACH             9     SOLE DISPOSITIVE POWER:               0
    REPORTING
                      ------- --------------------------------------------------
   PERSON WITH          10    SHARED DISPOSITIVE POWER:     4,755,300
- ------------------ -------------------------------------------------------------
       11          AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
                   PERSON:                                  4,755,300
- ------------------ -------------------------------------------------------------
       12          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
                   CERTAIN SHARES:                                           [_]
- ------------------ -------------------------------------------------------------
       13          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):     9.7%
- ------------------ -------------------------------------------------------------
       14          TYPE OF REPORTING PERSON:            IN
- ------------------ -------------------------------------------------------------





                                       10

            This Amendment No. 6 ("Amendment No. 6") amends the Statement on
Schedule 13D (the "Schedule 13D") filed on February 21, 1997 by and on behalf of
Greenway Partners, L.P. ("Greenway"), Greentree Partners, L.P. ("Greentree"),
Greenhouse Partners, L.P. ("Greenhouse"), Greenhut, L.L.C. ("Greenhut"),
Greenbelt Corp. ("Greenbelt"), Greensea Offshore, L.P. ("Greensea"), Greenhut
Overseas, L.L.C. ("Greenhut Overseas"), Alfred D. Kingsley ("Kingsley") and Gary
K. Duberstein ("Duberstein"; and together with the foregoing persons, the
"Reporting Persons"). Capitalized terms used herein and not defined herein have
the meanings ascribed thereto in the Schedule 13D.


ITEM 4.     PURPOSE OF THE TRANSACTION

            Pursuant to the Self-Tender Offer, the Company will purchase
approximately 51% of its outstanding Shares (assuming that 25,500,000 Shares are
validly tendered and not withdrawn). Thus, if the Reporting Persons tender their
Shares at a price per Share above the Purchase Price or do not tender their
Shares, their proportionate interest in the Company's outstanding Shares will
increase from 9.7% to in excess of 10%.

            The Reporting Persons sought the Company's assurance that, among
other things, any increase in the proportionate share of the outstanding Shares
held by the Reporting Persons solely as a result of the consummation of the
Company's Self-Tender Offer, and not as a result of any additional purchases of
Shares by the Reporting Persons, would not place them in a position in which the
Company's Board of Directors could declare them to be an Adverse Person and
result in a Triggering Event under the terms of the Company's Poison Pill
because the Reporting Persons then would own more than 10% of the outstanding
Shares.

            In the absence of such assurance from the Company, the Reporting
Persons commenced legal proceedings in the Court of Chancery of the State of
Delaware seeking, among other things, to enjoin the Self-Tender Offer unless
such assurance was provided. A hearing on the Reporting Persons' motion for a
temporary restraining order with respect to the Self-Tender Offer was held in
the Court of Chancery on Monday, August 10, 1998.

            On August 12, 1998, the Court issued an Order, a copy of which is
filed herewith as Exhibit 13 and is incorporated herein by reference, denying
the motion for a temporary restraining order conditioned upon the Company's
consent to the following terms:

            "In the event that plaintiffs tender their shares into the
      Self-Tender, neither the act of tendering nor the act of checking the box
      on the Letter of Transmittal indicating their willingness to accept the
      purchase price resulting from the Dutch auction nor the act of accepting
      the purchase price shall be deemed to moot this controversy or constitute
      acquiescence to the Self-Tender. Nor shall such acts constitute a waiver
      of plaintiffs' right to seek any legal or equitable remedy, including but
      not limited to an order of rescission that would require defendants to
      sell back to plaintiffs all of their tendered shares in registered form at
      the price determined by the Self-Tender and would provide that the holding
      of such shares shall not subject plaintiffs to an Adverse Person
      determination or, alternatively, appropriate rescissory or compensatory
      damages."

            In order to ensure that a Triggering Event does not occur, the
Reporting Persons intend to tender all of their Shares into the Self-Tender
Offer

                               Page 11 of 16 Pages

at the purchase price determined by the Dutch auction tender process described
in the Self-Tender Offer.


ITEM 7.     MATERIAL TO BE FILED AS EXHIBITS

            The following Exhibit is filed herewith:

            13.   Order of the Court of Chancery of the State of Delaware for
                  New Castle County dated August 12, 1998.


                                   SIGNATURES


     After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify that the information contained in this Statement is true,
complete and correct.

Dated:   August 12, 1998

GREENHOUSE PARTNERS, L.P.                    GREENWAY PARTNERS, L.P.

                                             By:  Greenhouse Partners, L.P., its
                                                   general partner
By: /s/ Gary K. Duberstein
    -------------------------------------
    Gary K. Duberstein, general              By: /s/ Gary K. Duberstein
      partner                                    -------------------------------
                                                 Gary K. Duberstein, general
                                                   partner

GREENHUT, L.L.C.                             GREENTREE PARTNERS, L.P.

                                             By:  Greenhut, L.L.C., its general
                                                   partner
By: /s/ Gary K. Duberstein
    -------------------------------------
    Gary K. Duberstein, Member               By: /s/ Gary K. Duberstein
                                                 -------------------------------
                                                  Gary K. Duberstein, Member

GREENHUT OVERSEAS, L.L.C.                    GREENSEA OFFSHORE, L.P.

                                             By:  Greenhut Overseas, L.L.C., its
                                                  investment general partner
By: /s/ Gary K. Duberstein
    -------------------------------------
    Gary K. Duberstein, Member               By: /s/ Gary K. Duberstein
                                                 -------------------------------
                                                  Gary K. Duberstein, Member

                                             GREENBELT CORP.

                                             By: /s/ Alfred D. Kingsley
                                                 -------------------------------
                                                  Alfred D. Kingsley, President


                                                  /s/ Alfred D. Kingsley
                                                 -------------------------------
                                                  ALFRED D. KINGSLEY


                                                  /s/ Gary K. Duberstein
                                                 -------------------------------
                                                  GARY K. DUBERSTEIN


                               Page 12 of 16 Pages

                                  EXHIBIT INDEX



EXHIBIT NO.        DESCRIPTION
- -----------        -----------

    13             Order of the Court of Chancery of the State of Delaware for
                   New Castle County dated August 12, 1998.













                               Page 13 of 16 Pages




                                                                    EXHIBIT 13


                IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

                          IN AND FOR NEW CASTLE COUNTY

GREENWAY PARTNERS, L.P.,            :
GREENTREE PARTNERS, L.P.,           :
GREENHOUSE PARTNERS, L.P.,          :
GREENHUT, L.L.C., GREENBELT         :
CORP., GREENSEA OFFSHORE,           :
L.P., ALFRED D. KINGSLEY and        :
GARY K. DUBERSTEIN,                 :
                                    :
                  Plaintiffs,       :
                                    :
            v.                      :
                                    :
INLAND STEEL INDUSTRIES, INC.,      :
A. ROBERT ABBOUD, ROBERT J.         :
DARNALL, JAMES A. HENDERSON,        :
ROBERT B. McKERSIE, LEO F.          :
MULLIN, JEAN-PIERRE ROSSO,          :
JOSHUA I. SMITH, NANCY H.           :
TEETERS and ARNOLD R. WEBER,        :
                                    :
                  Defendants.       :


                                    O R D E R
                                    ---------

            AND NOW, this 12th day of August, 1998, the Court having considered

the Verified Complaint, plaintiff's Motion for a Temporary Restraining Order,

the briefs filed by counsel and the arguments of counsel, and for the reasons

stated on the record, at the hearing held on August 10, 1998,

            IT IS HEREBY ORDERED that:

            1. Plaintiffs' request to restrain defendants from taking any steps

to purchase any shares or otherwise consummate its "Dutch auction" self tender

offer scheduled to close at midnight on Friday, August 14, 1998 (the

"Self-Tender") is denied conditioned upon defendants' consent to the terms of

paragraph 2 of this Order.


            2. In the event that plaintiffs tender their shares into the

Self-Tender, neither the act of tendering nor the act of checking the box on the

Letter of Transmittal indicating their willingness to accept the purchase price

resulting from the Dutch auction nor the act of accepting the purchase price

shall be deemed to moot this controversy or constitute acquiescence to the

Self-Tender. Nor shall such acts constitute a waiver of plaintiffs' right to

seek any legal or equitable



NYFS11...:\92\56392\0003\91\ORD8128P.300

remedy, including but not limited to an order of rescission that would require

defendants to sell back to plaintiffs all of their tendered shares in registered

form at the price determined by the Self-Tender and would provide that the

holding of such shares shall not subject plaintiffs to an Adverse Person

determination or, alternatively, appropriate rescissory or compensatory damages.


            3. This Order shall be effective immediately and shall continue

until further order of this Court.


                                    /s/ Jack B. Jacobs
                                    --------------------------------------
                                    Vice Chancellor Jack B. Jacobs








                                       2