SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                   FORM 10-Q\A


[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934  FOR THE QUARTERLY PERIOD ENDED  JULY 5, 1998

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____ TO _____

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                          (I.R.S. Employer
incorporation or organization)                           Identification No.)
                                                        
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

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 [ ]


There were 7,357,880 shares of the Issuer's Common Stock outstanding as of the
close of the period covered by this report.


<PAGE>

This Form 10-Q\A for the quarterly period ended July 5, 1998 is hereby amended
by adding Item 4 to Part II as set forth below.

Item 4.  Submission of Matters to a Vote of Security Holders

         On May 19, 1998 the Company held its Annual Meeting of Stockholders at
         which the following actions were taken:

         (a) The following persons were elected to the Company's Board of
             Directors:

                                             Votes For          Votes Withheld
                                             ---------          --------------

             John M. Sirianni                6,648,503              8,465
             Richard N. Cardozo              6,568,205             13,826

             In addition, the following directors continued in office after the 
             meeting:

                          James F. Bartl
                          Michael J. O'Meara
                          Melvin S. Cohen
                          Maryjo Cohen

         (b) The stockholders defeated a stockholder proposal recommending that
             the Board of Directors take certain actions relating to a sale,
             merger or restructuring of the Company by a vote of 5,439,638 votes
             against, 550,638 votes in favor, 63,151 abstentions and 712,978
             broker non-votes.


                                   SIGNATURES
                                   ----------

Pursuant to the requirements 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.


Date: November 3, 1998                                           /S/ M. J. Cohen
                                   ---------------------------------------------
                                   M. J. Cohen, President
                                   (Principal operating officer)


Date: November 3, 1998                                          /S/ R. F. Lieble
                                   ---------------------------------------------
                                   R. F. Lieble, Treasurer
                                   (Principal accounting officer)