SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  Schedule 13G

                    Under the Securities Exchange Act of 1934
                                (Amendment No. )


                              Chase Industries Inc.
                                    formerly
                          Chase Brass Industries, Inc.
          ------------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
          ------------------------------------------------------------
                         (Title of Class of Securities)


                                   161568 10 0
                      ------------------------------------
                                 (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).


                        (Continued on following page(s))

                                Page 1 of 7 Pages

<PAGE>

    CUSIP No. 161568 10 0                  13G                 Page 2 of 7 Pages

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

       Citicorp                  13-2614988

--------------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *

       (a)_______


       (b)_______

--------------------------------------------------------------------------------
  3    SEC USE ONLY


--------------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware

--------------------------------------------------------------------------------
                       5   SOLE VOTING POWER
     NUMBER OF
                           None
       SHARES
                     -----------------------------------------------------------
                       6   SHARED VOTING POWER
    BENEFICALLY
                           None
      OWNED BY
                     -----------------------------------------------------------
                       7   SOLE DISPOSITIVE POWER
        EACH
                           None
     REPORTING
                     -----------------------------------------------------------
                       8   SHARED DISPOSITIVE POWER
       PERSON
                           None
        WITH
--------------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       None, except through its wholly-owned subsidiary, Citibank, N.A., and its
       wholly-owned subsidiary, Citicorp Venture Capital Ltd.

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


--------------------------------------------------------------------------------
  11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

       See Line 9, above

--------------------------------------------------------------------------------
  12   TYPE OF REPORTING PERSON *

       HC

--------------------------------------------------------------------------------
                      * SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

    CUSIP No. 161568 10 0                  13G                 Page 3 of 7 Pages

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

       Citibank, N.A.                  13-5266470

--------------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *

       (a)_______


       (b)_______

--------------------------------------------------------------------------------
  3    SEC USE ONLY


--------------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       A national banking association

--------------------------------------------------------------------------------
                       5   SOLE VOTING POWER
     NUMBER OF
                           None
       SHARES
                       ---------------------------------------------------------
                       6   SHARED VOTING POWER
    BENEFICALLY
                           None
      OWNED BY
                       ---------------------------------------------------------
                       7   SOLE DISPOSITIVE POWER
        EACH
                           None
     REPORTING
                       ---------------------------------------------------------
                       8   SHARED DISPOSITIVE POWER
       PERSON              
                           None
        WITH

--------------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       None,  except  through  its  wholly-owned  subsidiary,  Citicorp  Venture
       Capital Ltd.

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


--------------------------------------------------------------------------------
  11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

       See line 9, above

--------------------------------------------------------------------------------
  12   TYPE OF REPORTING PERSON *

       BK

--------------------------------------------------------------------------------
                      * SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

    CUSIP No. 161568 10 0                  13G                 Page 4 of 7 Pages

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

       Citicorp Venture Capital Ltd.                  13-2598089

--------------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *

       (a)_______

       (b)_______

--------------------------------------------------------------------------------
  3    SEC USE ONLY


--------------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       New York

--------------------------------------------------------------------------------
                       5   SOLE VOTING POWER
     NUMBER OF
                           759,885
       SHARES
                       ---------------------------------------------------------
                       6   SHARED VOTING POWER
    BENEFICALLY
                           None
      OWNED BY
                       ---------------------------------------------------------
                       7   SOLE DISPOSITIVE POWER
        EACH
                           759,885
     REPORTING
                       ---------------------------------------------------------
                       8   SHARED DISPOSITIVE POWER
       PERSON
                           None
        WITH
--------------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       759,885

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


--------------------------------------------------------------------------------
  11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

       7.52%

--------------------------------------------------------------------------------
  12   TYPE OF REPORTING PERSON *

       CO

--------------------------------------------------------------------------------
                      * SEE INSTRUCTION BEFORE FILLING OUT!


<PAGE>

                                                Page 5 of 7 Pages

  SCHEDULE 13G

  ITEM 1(A) NAME OF ISSUER:                       Chase Industries Inc.

  ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL STATE:  Route 15
                                                  14212 Country Rd. M-50
                                                  Montpelier, OH  43543

  ITEM 2(A) NAMES OF PERSONS:                     Citicorp and its wholly-owned
                                                  subsidiary, Citibank, N.A.,
                                                  and those subsidiaries checked
                                                  below:

                                                  [X]Citicorp Venture Capital
                                                  Ltd., a wholly-owned
                                                  subsidiary of Citibank, N.A.

                                                  [_]399 Venture Partners, Inc.,
                                                  a wholly-owned subsidiary of
                                                  Citibank

  ITEM 2(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE:

                                                  Citicorp
                                                  Citibank, N.A.
                                                  Citicorp Venture Capital Ltd.
                                                  399 Venture Partners Inc.
                                                  399 Park Avenue
                                                  New York, N.Y. 10043

  ITEM 2(C) CITIZENSHIP:                          Citicorp: Delaware;
                                                  Citibank, N.A.: A national
                                                    banking association;
                                                  Citicorp Venture Capital Ltd.:
                                                    New York;
                                                  399 Venture Partners Inc.:
                                                    Delaware;

  ITEM 2(D) TITLE OF CLASS OF SECURITIES:         Common Stock

  ITEM 2(E) CUSIP NUMBER:                         161568 10 0

  ITEM 3 THE PERSONS  FILING THIS  SCHEDULE  PURSUANT TO EITHER RULE 13D-1(B) OR
  RULE 13D-2(B) ARE:

  Citicorp:                                       (g) Parent Holding Company, in
                                                  accordance with
                                                  ss.240.13d-1(b)(ii(G).

  Citibank, N.A.:                                 (b) Bank as defined in ss.3
                                                  (a)(6) oF the Act;

  and those subsidiaries checked below:
  [X]Citicorp Venture Capital Ltd.:               Corporation.
  [_]399 Venture Partners Inc.:                   Corporation.

<PAGE>

                                                Page 6 of 7 Pages

  ITEM 4   OWNERSHIP

           (a)   Total Amount Beneficially Owned:  759,885

           (b)   Percent of Class:                 7.52%

           (c)   Total Number of Shares as to which such persons have:

                 (i)   sole power to vote or to direct the vote
                       759,885
                       -------

                 (ii)  shared power to vote or to direct
                       None
                       -------

                 (iii) sole power to dispose or to direct
                       the disposition of
                       759,885
                       -------

                 (iv)  shared power to dispose or to
                       direct the disposition of
                       None
                       -------

  ITEM 5   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

           [x] Not applicable.

           [_] This  statement  is being  filed to  report  the fact  that as of
               December 31,  1996,  the  reporting  persons had ceased to be the
               beneficial  owners of more than five  percent  of the  securities
               described.

  ITEM 6   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
           None

  ITEM 7   IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
           THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
           See Items 2(a) and 3.

  ITEM 8   IDENTIFICATION  AND  CLASSIFICATION  OF MEMBERS OF THE GROUP:
           Not applicable.

  ITEM 9   NOTICE OF DISSOLUTION OF GROUP:
           Not applicable.

<PAGE>

                                                Page7 of 7 Pages


  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
           purposes or effect.  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.  NOTE:
           Signatures  below are for  Citicorp  and  Citibank,  N.A.,  and those
           subsidiaries  holding the issue,  indicated by check below.  All data
           shown is as of December 31, 1997.


            FEBRUARY 13, 1998             CITICORP
            -----------------
            DATE
                                          By /s/George E. Seegers
                                            -----------------------------------
                                                George E. Seegers
                                                Assistant Secretary, Citicorp

                                          CITIBANK, N.A.

                                          By /s/George E. Seegers
                                            -----------------------------------
                                                George E. Seegers
                                                Vice President, Citibank N.A.

                                          CITICORP VENTURE CAPITAL LTD.

                                          By /s/Helene B. Shavin
                                            -----------------------------------
                                                Helene B. Shavin
                                                Assistant Vice President

                                          399 VENTURE PARTNERS, INC.

                                          By
                                            -----------------------------------
                                                Helene B. Shavin
                                                Assistant Vice President


  Copies to:
  Corporate Secretary