SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549

                                    FORM 10-K/A

                     ANNUAL REPORT PURSUANT TO SECTION 13 OR
                  15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE FISCAL YEAR ENDED DECEMBER 31, 1998        COMMISSION FILE NUMBER 1-2451

                        NATIONAL PRESTO INDUSTRIES, INC.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

                    WISCONSIN                        39-0494170
                    --------------------------------------------
         (State or other jurisdiction of             (IRS Employer
          incorporation or organization)         Identification Number)

                             3925 NORTH HASTINGS WAY
                             -----------------------
                EAU CLAIRE, WISCONSIN                  54703-3703
                -------------------------------------------------
             (Address of principal executive offices)  (Zip Code)
             ----------------------------------------------------

       Registrant's telephone number, including area code: (715) 839-2121

           Securities registered pursuant to Section 12(b) of the Act:

                                              Name of each exchange on
          Title of each class                     which registered
          --------------------------------------------------------
       $1.00 par value common stock            New York Stock Exchange

          Securities registered pursuant to Section 12 (g) of the Act:

                                      NONE
                                      ----


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes _X_ No ___

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K (229.405 of this chapter) is not contained herein, and will
not be contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to the Form 10-K. _X_

The aggregate market value of the voting stock held by non-affiliates of the
registrant computed by reference to the price at which the stock was sold, or
the average bid and asked prices of such stock, as of February 26, 1999, was
$265,774,219.

The number of shares outstanding of each of the registrant's classes of common
stock, as of February 26, 1999, was 7,359,478.

<PAGE>




This amendment is being submitted to include the financial data schedule filed
electronically only.



<PAGE>

                                     PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

         A.    The following consolidated financial statements of National
               Presto Industries, Inc., and its subsidiaries and the related
               Report of Independent Certified Public Accountants are included
               in this report:
         Exhibit 27 - Financial Data Schedule                        

         All other Schedules and Exhibits for which provision is made in the
         applicable accounting regulations of the Securities and Exchange
         Commission are not required under the related instructions or are
         inapplicable, and therefore have been omitted. Columns omitted from
         schedules filed have been omitted because the information is not
         applicable.


         C.    Reports on Form 8-K:

               No reports on Form 8-K were filed during the last quarter of the
               period covered by this Form 10-K.

<PAGE>




                                    SIGNATURE


Pursuant to the Requirements of Section 13 or 14 (d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                        NATIONAL PRESTO INDUSTRIES, INC.
                        --------------------------------
                                  (registrant)




                                    By: /S/ Randy F. Lieble
                                            ---------------
                                            Randy F. Lieble
                                            Treasurer
                                            (Principal Accounting Officer)


  By: /S/ Richard N. Cardozo        By: /S/ Melvin S. Cohen
          ------------------                ---------------
          Richard N. Cardozo                Melvin S. Cohen
          Director                          Chairman of the Board


  By: /S/ John M. Sirianni          By: /S/ James F. Bartl
          ------------------                --------------
          John M. Sirianni                  James F. Bartl
          Director                          Executive Vice President,
                                            Secretary and Director


  By: /S/ Michael J. O'Meara        By: /S/ Maryjo Cohen
          ------------------                ---------------
          Michael J. O'Meara                Maryjo Cohen
          Director                          President and Chief Executive
                                            Officer and Director



Date: March 30, 1999