<PAGE>   1
                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-K

                ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF

                       THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 1996          Commission File No. 1-1997

                        THE MONARCH MACHINE TOOL COMPANY

An Ohio Corporation                      Employer Identification No. 34-4307810

                    615 North Oak Street, Sidney, Ohio 45365

                             Telephone 937/492-4111

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

                                                   Name of each exchange
      Title of each class                          on which registered
      -------------------                          ---------------------

Common shares, without par value                   New York Stock Exchange, Inc.

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 twelve months, 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 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 this
form 10-K. [ ]

The aggregate market value of the common shares held by nonaffiliates of the
registrant as of the close of business on March 3, 1997 was $29,023,000.

The number of common shares outstanding as of March 3, 1997, was 3,744,967.
            Documents Incorporated By Reference

(1)  Portions of the registrant's annual report to security holders for the
       year ended December 31, 1996 (Part II)

(2)  Portions of the registrant's definitive proxy statement to be filed in
       connection with the annual meeting of shareholders to be held on
       May 6, 1997. (Parts I & III)

<PAGE>   2

                                     Part I
                                     ------

Item 1 - Business
-----------------
The Monarch Machine Tool Company ("Monarch" or the "Company") was incorporated
in 1909.

Products
--------
The Company operates in three primary industries in which it designs and builds
machinery, namely the machine tool, coil processing and paper converting
industries. The Company's products are primarily used by manufacturers of
industrial equipment and, directly or indirectly, consumer products.

All Company products are sold by direct Company salesmen or independent agents
throughout the United States and the world.

The following is a description of the primary products produced by the Company:

Machine Tools
-------------
Turning Machines - A metal cutting turning machine removes metal by engaging a
stationary tool on the surface of a rotating part. Monarch manufactures
different types of turning machines, including chuckers for short parts, shaft
machines for long cylindrical parts, and bar machines for parts cut from bar
stock. Both two axis (one cutting tool in the cut) and four axis (two cutting
tools in the cut simultaneously) are available in most configurations. The
machines are operated by computer numerical control (CNC). Once programs are
stored in the control, all of the functions of the machine can be performed
without operator assistance. Automatic part loading devices also built by
Monarch can be added for further unassisted operation. Monarch also
re-manufactures several models of manually operated conventional and CNC lathes.

Machining Centers - A machining center is a multifunction machine that removes
metal by milling, drilling, boring, or tapping with a rotating tool on a
stationary part. Monarch manufactures vertical spindle machining centers in
various sizes and configurations. All are computer numerically controlled and
have automatic tool changers that change tools in the spindle without operator
assistance. Automatic part loading devices have been developed by Monarch that
can be added to most models.

Coil Processing Machinery
-------------------------
Monarch engineers and manufactures a broad line of metal coil processing
machinery. This equipment, generally sold as complete lines, is used by steel
and aluminum mills, ferrous and non-ferrous supply centers, and end users of
strip material. Monarch coil processing lines perform various operations, such
as slitting, tension leveling, shearing, cleaning, forming, coating,
galvanizing, annealing, and heat treating. Individual components are also
manufactured for the upgrading of existing lines.




<PAGE>   3


                                     Part I
                                     ------


Item 1 - Business, continued
----------------------------


Paper Converting Machinery
--------------------------
In 1995, the Company entered a new industry segment with its purchase of certain
assets of the paper converting machinery segment of the Depiereux group of
companies. The coating and laminating equipment, typically sold in complete
lines, is used by paper, plastics and foil converters to further process these
materials for use in flexible or medical packaging, pressure sensitives,
adhesives products and wall coverings. The lines include continuous roll
processing with in-line coating, drying, dry or wet laminating, slitting and
rewinding. The coatings and adhesives applied are aqueous solvent, solventless,
hot melt and wax. Individual components are also available for upgrading
existing installations.

Competition
-----------
Monarch actively competes with other machinery manufacturers, both domestic and
foreign. The market for coil processing equipment, paper converting machinery
and metal cutting machine tools is subject to normal price, service, and quality
competition. Foreign machine tool manufacturers (primarily Japanese) continue to
make serious inroads into the American market.


Customers
---------
Monarch has a broad market base. Virtually all manufacturing plants that perform
metal cutting operations are potential customers for Monarch turning machines
and machining centers. Producers, suppliers, and users of strip metal generally
have application for Monarch coil processing machinery. The Company's paper
converting machinery is manufactured for use by potential customers in the
packaging industry and many other producers of commercial and consumer products.
The loss of any one customer would not have a materially adverse effect upon the
Company.

Backlog
-------

Monarch's backlog, segregated by industry segment is as follows
(in thousands):
                                                  DECEMBER 31,    DECEMBER 31,
                                                    1996              1995
                                                   -------          -------
Machine Tools                                      $18,914          $13,739
Coil Processing Machinery                           41,901           45,879
Paper Converting Machinery                              --               --
                                                   -------          -------

                                                   $60,815          $59,618
                                                   =======          =======
<PAGE>   4


                                    Part I
                                    ------


Item 1 - Business, continued
----------------------------
The entire 1996 backlog can reasonably be expected to be shipped within twelve
months. Seasonal factors are not significant to Monarch.

Purchases of Raw Materials and Supplies
---------------------------------------
Monarch manufactures substantially all of the parts of its machines other than
numerical controls, large gear boxes, motors, and electrical components. The
principal materials purchased are obtained on a competitive basis from many
different sources and are readily available. Monarch's numerically controlled
machines are designed to be used with controls made by any one of the major
control manufacturers that supply Monarch.

Patents
-------
Patents, licenses, and franchises are not considered significant to the
business. Since 1989, Monarch has had an exclusive agreement with Coremu,
S.p.A., Rivanazzano, Italy, to manufacture computer numerically controlled
vertical turning and boring machines of their design in the United States and to
market them in the United States, Canada, and Mexico. This equipment handles
larger diameter work than the horizontal turning machines built by Monarch.


Engineering and Development
---------------------------
Monarch's engineering departments, which currently
employ 123 persons, are responsible for engineering customer orders, the
improvement of existing product lines, and the development of new product lines.
Monarch's major product lines have been engineered and developed by Monarch
personnel. Refer to the Notes to Consolidated Financial Statements, incorporated
into this Form 10K by reference, for the amount of research and development
expense in 1996, 1995 and 1994.

Employees
---------
Monarch had 707 employees at December 31, 1996.

Working Capital
---------------
Because of the long manufacturing time required to
manufacture its products, Monarch is normally required to finance a
substantial volume of work in process.

Domestic and Foreign Operations and Export Sales
------------------------------------------------
Amounts of revenue, profitability, and identifiable assets attributable to
domestic and foreign operations for 1996, 1995, and 1994 are included in Notes
to Consolidated Financial Statements incorporated by reference into this Form
10-K.


<PAGE>   5


                                     Part I
                                     ------

Item 2 - Properties
-------------------

Domestic
--------
Operations in Sidney, Ohio, corporate headquarters of Monarch, are conducted in
a plant of 441,000 square feet. Manufacturing operations are also conducted in
Cortland, New York, in a plant of 135,000 square feet and in New Bremen, Ohio,
in a plant of 180,000 square feet. All facilities are owned by Monarch.
Monarch's manufacturing facilities, both real estate and machinery, are in good
condition.

Foreign Subsidiaries
--------------------
Monarch Werkzeugmaschinen GmbH, in Dueren, Germany, serves as a sales and
service headquarters for U.S. machine tools in Europe. The operations were
conducted in owned facilities (10,000 square feet) in Hemsbach, Germany. As a
result of the Company's decision to consolidate their German operations the
Company decided to sell the property and equipment of the Hemsbach, Germany
subsidiary as discussed in the Notes to the Consolidated Financial Statements.

Stamco (U.K.), Ltd., engineers and sells strip processing machinery that is
produced in the United Kingdom and operates from leased general purpose
facilities located in Walsall, England.

Stamco Depiereux GmbH, engineers and sells strip processing machinery and
operates from leased general purpose facilities in Dueren, Germany.

Monarch Busch GmbH, engineers and sells paper converting machinery and operates
from leased general purpose facilities in Dueren, Germany.

All of the facilities are in good condition.

Item 3 - Legal Proceedings
--------------------------

In September 1988, the Company and several other potentially responsible
parties, ("PRPs"), were ordered by the Environmental Protection Agency, under
the Federal "Superfund" legislation to perform a removal action to dispose of
waste materials at the Rosen site, a former scrap yard in Cortland, New York.
Thereafter, the Company and certain other PRPs agreed to perform a Remedial
Investigation, Risk Assessment, and Feasibility Study at the site. The Remedial
Investigation, Risk Assessment, and Feasibility Study have now been completed by
an engineering firm and submitted to EPA Region II.

Six PRPs shared in the cost of the Remedial Investigation, Risk Assessment, and
Feasibility Study. In 1992, five of these PRPs, including the Company, sued 15
additional companies and individuals that were considered to be potentially
liable to share in the costs of the Remedial Investigation, Risk Assessment, and
Feasibility Study and ultimate clean-up of the site.




<PAGE>   6


                                     Part I
                                     ------


Item 3 - Legal Proceedings, Continued
-------------------------------------

During 1993, it was preliminarily estimated that the minimum remedial efforts
could cost from $6,000,000 to $8,500,000. Accordingly, during 1993, the Company
accrued an additional $1,600,000 to cover its share of the estimated costs
associated with the ultimate resolution of this matter. Because of financial
difficulties experienced by one of the PRPs and because the suit against the
potential additional PRPs is not settled, the Company computed its share of the
estimated costs on the basis of five PRPs.

During 1994, the estimated minimum costs of the remedial efforts did not
materially change. However, because of the many uncertainties surrounding this
issue the Company expensed approximately $300,000 of such costs instead of
off-setting it against the accrued liabilities. Accordingly, at December 31,
1994 the Company maintained its accrual at $1,715,000 to absorb future costs
associated with this matter.

The attorneys for five PRPs have brought on Motions for Summary Judgment against
several defendants in order to establish liability for clean-up costs on the
part of these defendants. In the case of two of these defendants, the motions
have been granted and liability thus established. Additional motions against
three defendants have been made and are now pending. It is the opinion of the
PRP's attorneys that these motions are also likely to be successful. In the
opinion of counsel, this is significant since all defendants against which
liability has been established will in all probability be included in the EPA
order directing cleanup of the Rosen Site and will thereby be compelled to share
in the costs of cleanup.

During 1995, the aforementioned Risk Assessment concluded there was little, if
any risk to human health at the site. The Feasibility Study concluded that a cap
over a portion of the site, an asphalt cover over the remainder of the site,
together with continual ground water monitoring would constitute an adequate
remedy.

During 1995 and 1996, the estimated minimum costs of the remedial efforts did
not materially change. If the EPA accepts the recommendations described in the
Feasibility Study, capital costs would be incurred in the early part of the
remedial efforts and annual operating and maintenance costs primarily associated
with ground-water monitoring and sampling would be incurred over a 30 year
period. However, the EPA has given no indication that the remedy proposed in the
Feasibility Study would be an acceptable one so that the final cost of the
approved remedy should be considered highly speculative at this time. The
ultimate liability of the Company will vary depending on the actual costs which
will be incurred, the resolution of the lawsuit against the potential additional
PRPs, the allocation of the costs of remediation among the various PRPs, and the
financial viability of the existing PRPs.



<PAGE>   7


                                     Part I
                                     ------


Item 3 - Legal Proceedings, Continued
---------------------------

In prior years, the Company commenced an action against six insurance carrier's
to secure defense and indemnification coverage for matters associated with
defense costs and other costs associated with the clean up of the Rosen Site. In
October 1995, the parties agreed to a settlement in which six of the insurance
carriers, later amended to five, agreed to make a combined payment of $350,000
to the Company in exchange for a full site release.

The Company is a defendant in various legal actions, primarily product liability
claims, arising in the ordinary course of business. In the opinion of
management, the ultimate liability, if any, resulting from these matters will
not have a material effect on the Company's consolidated financial position. The
significance of these matters on the Company's future operating results will
depend on the Company's level of future earnings as well as the timing and the
amount of the ultimate disposition of these matters above the amounts covered by
insurance.

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

There were no matters submitted to a vote of security holders during the fourth
quarter of the fiscal year covered by this report.

                                     PART II


Item 5 - Market for the Registrant's Common Equity and Related Shareholders
---------------------------------------------------------------------------
Matters
-------

The information required by this Item 5 is set forth under the heading "Selected
Financial Data" on page 7 of the Annual Report. Such information is incorporated
herein by this reference.

Item 6 - Selected Financial Data
--------------------------------

The information required by Item 6 is set forth under the heading "Selected
Financial Data" on page 7 of the Annual Report and is incorporated herein by
this reference.

Item 7 - Management's Discussion and Analysis of Financial Conditions and
-------------------------------------------------------------------------
Results of Operations
---------------------

The information required by this Item 7 is set forth under the heading
"Management's Discussion and Analysis" on pages 4 through 6 of the Annual Report
and is incorporated herein by this reference.


<PAGE>   8


                                     PART II


Item 8 - Financial Statements and Supplementary Data
----------------------------------------------------

The information required by this Item 8 is set forth on pages 8 through 18 of
the Annual Report and is incorporated herein by this reference.

Item 9 - Changes in and Disagreements with Accountants on Accounting
--------------------------------------------------------------------
and Financial Disclosure
------------------------

None
                                    PART III
                                    --------

Item 10 - Directors and Executive Officers of the Registrant
------------------------------------------------------------

Executive Officers of the Registrant
-------------------------------------

The names and ages of all officers, all of whom are appointed for a term of one
year and, except as noted, have been officers and employees of the registrant
for the last five years, are as follows:

<TABLE>
<CAPTION>

OFFICE                                      NAME                             AGE
------                                      ----                             ---
<S>                                         <C>                              <C>
President                                   Richard E. Clemens               47

President, Coil Processing and              Robert J. Kindt                  51
   Paper Converting

Vice President                              Robert A. Skodzinsky             52

Vice President, Domestic Coil               Paul J. Maloney                  59
   Processing

Treasurer                                   Robert B. Riethman               49

Secretary                                   Earl J. Hull                     63

</TABLE>

Mr. Clemens became President and Chief Executive Officer of Monarch on March 10,
1997. He was previously the Vice President and General Manager of the Frick
Company, a manufacturer of compressors, heat exchangers, and process
refrigeration equipment (a subsidiary of York International) from July 1995 to
February 1997. Prior to working for the Frick Company, he was the President and
Chief Executive Officer of Clark Material Handling Company, a manufacturer of
lift trucks, from March 1994 to July 1995. Before working for Clark Material
Handling Company, he was working for BMY Combat Systems, a division of Harsco
Corporation as President from 1992 to 1994 and held various other management
positions with the division from July 1985 to 1992.

Mr. Kindt became President of the Coil Processing and Paper Converting Industry
segments in November 1995 and was previously Vice President of The Monarch
Machine Tool Company since March 1990. He was previously employed at Natco
Incorporated as Vice President of Operations and Vice President/General Manager
Plastics Group from August 1985 to February 1990. Prior to working for Natco
Incorporated, he was employed at Lodge and Shipley as Vice President of
Manufacturing from June 1984 to August 1985 and was Plant Manager from 1980 to
June 1984.


<PAGE>   9


                                    PART III
                                    --------

Item 10 - Directors and Executive Officers of the Registrant, Continued
-----------------------------------------------------------------------

Executive Officers of the Registrant, Continued
------------------------------------
Mr. Skodzinsky became Vice President of The Monarch Machine Tool Company in
February 1995. He had been General Manager of the Monarch Cortland division
since December 1994 and prior to that date was the Director of Marketing at the
division. He was previously employed at Hunt Valve Company as President and
Chief Operating Officer from November 1991 to August 1993. Prior to working for
Hunt Valve Company has was employed at Industrial General Corporation as Vice
President of operations from June 1982 to November 1991. Before working for
Industrial General Corporation he was employed at The Warner and Swasey Company
as Vice President of Manufacturing from October 1977 to June 1982.

Mr. Maloney became Vice President of The Monarch Machine Tool Company in
November 1995. He had been the Sales and Marketing manager for the Monarch
Stamco division since July 1991. He was previously employed at the Ferguson
division of Crane Corporation as Vice President of Sales from September 1989 to
January 1991. Prior to working for Ferguson he was employed by Process Equipment
Company as Sales Manager from September 1987 to September 1989. Before working
for Process Equipment Company he was employed at National Machinery Company in
various positions including Sales Engineer and Sales Manager from December 1962
to August 1987.

Mr. Riethman has been Treasurer of the Company for more than five
years.

Mr. Hull has been Secretary of the Company for more than five years.

Additional information required by this Item 10 is incorporated herein by
reference from the Proxy Statement.

Item 11 - Executive Compensation
--------------------------------
The information required by this Item 11 is set forth in the Proxy Statement and
is incorporated herein by this reference.

Item 12 - Security Ownership of Certain Beneficial Owners and Management
------------------------------------------------------------------------
The information required by this Item 12 is set forth in the Proxy Statement and
is incorporated herein by this reference.

Item 13 - Certain Relationships and Related Transactions
--------------------------------------------------------
The information required by this Item 13 is set forth to the extent applicable
in the Proxy Statement and is incorporated herein by this reference.



<PAGE>   10


                                     PART IV
<TABLE>                              -------
<CAPTION>

<S>                                                                                          <C>
Item l4 - Exhibits, Financial Statement Schedules, and Reports on Form 8-K
--------------------------------------------------------------------------

(a)  List of Documents filed as part of this Report

     (1)  Financial Statements:


          Report of Independent Accountants                                                     *

          Consolidated Balance Sheets, December 31, 1996 and 1995                               *

          Consolidated Statements of Operations and Retained Earnings for
               the years ended December 31, 1996, 1995 and 1994                                 *

          Consolidated Statements of Cash Flows for the years ended
               December 31, 1996, 1995 and 1994                                                 *

          Notes to Consolidated Financial Statements                                            *

* Incorporated herein by reference from the appropriate portions of the
  Registrant's Annual Report to security holders for the year ended December
  31, 1996

     (2)  Financial Statement Schedules:

             Report of Independent Accountants

             Schedule II - Valuation and Qualifying Accounts

             Schedules other than those listed above are omitted for the
             reason that they are not applicable, or are not required.

     (3)  Exhibits:  See Index of Exhibits

(b)  No reports on Form 8-K have been filed during the last quarter of 1996.

(c)  See Index of Exhibits for location of filed exhibits

(d)  No other financial statements, other than those mentioned above, are
     required to be filed to comply with Regulation S-X.

</TABLE>

<PAGE>   11



                                   SIGNATURES


Pursuant to the requirements of Section 13 or 15(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.

                                 THE MONARCH MACHINE TOOL COMPANY



                           By    /s/ Richard E. Clemens
                                 -----------------------------------------------
      March 21, 1997             RICHARD E. CLEMENS
                                 Director, President and Chief Executive Officer




Pursuant to the requirements of the Securities Exchange Act of 1934, this Report
has been signed below by the following persons on behalf of The Monarch Machine
Tool Company and in the capacities and on the dates indicated:

                     By    /s/ Richard E. Clemens
                           -----------------------------------------------
March 21, 1997             RICHARD E. CLEMENS
                           Director, President and Chief Executive Officer



                     By    /s/ Robert B. Riethman
                           -----------------------------------------------
March 21, 1997             ROBERT B. RIETHMAN
                           Treasurer (Principal Financial and Accounting Officer



                     By    /s/ William A. Enouen
                           -----------------------------------------------
March 21, 1997             WILLIAM A. ENOUEN
                           Director



                     By    /s/ Waldemar M. Goulet
                           -----------------------------------------------
March 21, 1997             WALDEMAR M. GOULET
                           Director



                     By    /s/ David E. Lundeen
                           -----------------------------------------------
March 21, 1997             DAVID E. LUNDEEN
                           Director



                     By    /s/ Joseph M. Rigot
                           -----------------------------------------------
March 21, 1997             JOSEPH M. RIGOT
                           Director

<PAGE>   12


                     By
                           -----------------------------------------------
March 21, 1997              JOHN A. BERTRAND
                           Director



                     By
                           -----------------------------------------------
March 21, 1997             KENNETH H. HOPKINS
                           Director



                     By
                           -----------------------------------------------
March 21, 1997             JOHN M. RICHARDSON
                           Director



                     By
                           -----------------------------------------------
March 21, 1997             JOHN R. TORLEY
                           Director




<PAGE>   13








REPORT OF INDEPENDENT ACCOUNTANTS




To the Shareholders and Board of Directors of
The Monarch Machine Tool Company

Our report on the consolidated financial statements of The Monarch Machine Tool
Company and Subsidiaries has been incorporated by reference in this Form 10-K
from page 19 of the 1996 Annual Report to Shareholders of The Monarch Machine
Tool Company and Subsidiaries. In connection with our audits of such financial
statements, we have also audited the related financial statement schedule listed
in the index of this Form 10-K.

In our opinion, the financial statement schedule referred to above, when
considered in relation to the basic consolidated financial statements taken as a
whole, presents fairly, in all material respects, the information required to be
included therein.





COOPERS & LYBRAND L.L.P.

Dayton, Ohio
February 11, 1997




<PAGE>   14


THE MONARCH MACHINE TOOL COMPANY

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

FOR THE YEARS ENDED DECEMBER 31, 1996, 1995 AND 1994

(DOLLARS IN THOUSANDS)
<TABLE>
<CAPTION>


         COL. A                                  COL. B           COL. C          COL. D             COL. E
         --------------                          --------------   -------------   -------------      -------------

                                                                  ADDITIONS
                                                                ---------------
                                                BALANCE AT      CHARGED TO                          BALANCE AT
                                                BEGINNING        COSTS AND                            END OF
            DESCRIPTION                         OF PERIOD        EXPENSES         DEDUCTIONS          PERIOD
                                                --------------- ---------------  --------------     --------------
<S>                                             <C>             <C>              <C>       <C>      <C>

Year ended December 31, 1996:
    Allowance for doubtful trade accounts
        receivable                             $           150  $          463   $         (144)(a)   $        469
    Inventory reserves                                   4,085           9,690             (259)(b)         13,516
                                                --------------- ---------------  --------------     --------------

         Total                                  $        4,235  $       10,153   $         (403)      $     13,985
                                                =============== ===============  ==============     ==============

Year ended December 31, 1995:
    Allowance for doubtful trade accounts
         receivable                             $          313  $           44   $         (207)(a)            150
    Inventory reserves                                   3,727             757             (399)(b)          4,085
                                                --------------- ---------------  --------------     --------------

         Total                                  $        4,040  $          801   $         (606)      $      4,235
                                                =============== ===============  ==============     ==============

Year ended December 31, 1994:
    Allowance for doubtful trade accounts
         receivable                             $          543  $          140             (370)(a)            313
    Inventory reserves                                   3,553             748             (574)(b)          3,727
                                                --------------- ---------------  --------------     --------------

         Total                                  $        4,096  $          888   $         (944)      $      4,040
                                                =============== ===============  ==============     ==============

</TABLE>
(a)   Write-offs/Collections
(b)   Disposals/Sales

<PAGE>   15



                                INDEX OF EXHIBITS

           (FILED WITH THE COMMISSION AND THE NEW YORK STOCK EXCHANGE)

<TABLE>
<CAPTION>
"Assigned"
  Exhibit
  Number *                              DESCRIPTION
---------------                         -----------

  <S>                                                                                            <C>
   3           Articles of Incorporation and Regulations                                             **

  10           Material Contracts

               10.1  1994 Employees Stock Option Plan                                                 +

               10.2  Letter Agreement, dated February 13, 1997, between The
                          Monarch Machine Tool Company and Richard E. Clemens                         +

               10.3  Letter Agreement, dated May 7, 1996 between The
                          Monarch Machine Tool Company and Robert J. Siewert                          +


   11          Statement Re:  Computation of Income (Loss) Per Share                                  +

   13          Annual Report to Security Holders for the fiscal year ended                          ***
                December 31, 1996

   21          Subsidiaries of the Registrant                                                         +

   23          Consent of Independent Accountants                                                     +

   27          Financial Data Schedule                                                                +
</TABLE>

  +            Indicates Exhibit is being filed with this report

  *   Exhibits 2, 4, 9, 12, 16, 18, 22, 24, 28, and 29 are either
      inapplicable to the Company or require no answer.

 **   Incorporated by reference to the Exhibits with the same number filed
      with the Company's Form 10-K for the year ended December 31, 1980.

***   This Report, except for the portions incorporated by reference herein,
      is furnished for the information of the Commission and is not deemed
      "filed" as part of this Annual Report.