UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT



     Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) December 30, 1996


                                BALL CORPORATION
             (Exact name of registrant as specified in its charter)



                                     Indiana
                 (State or other jurisdiction of incorporation)



        1-7349                                          35-0160610
(Commission File Number)                       (IRS Employer Identification No.)



                  345 South High Street, Muncie, IN 47307-0407
               (Address of principal executive office) (Zip Code)


        Registrant's telephone number, including area code (317) 747-6100


                                BALL CORPORATION
                                    FORM 8-K
                             Dated December 30, 1996


Item 5.  Restatement of Financial  Statements  for Exit of the Commercial  Glass
         Packaging Business

On October 1, 1996, the company sold its remaining interest in Ball-Foster Glass
Container Co., L.L.C., (Ball-Foster), a joint-venture company formed in 1995, to
Compagnie de Saint-Gobain. With this sale, the company no longer participates in
the manufacture of glass  containers.  Accordingly,  the consolidated  financial
statements  for the year ended  December  31,  1995 and notes  thereto,  and the
unaudited condensed  consolidated financial statements for the nine month period
ended  September 29, 1996 and notes  thereto,  filed as Exhibit 13.1 and Exhibit
13.2,  respectively,  to this Current Report on Form 8-K and incorporated herein
by reference,  have been restated from amounts previously  reported to segregate
the financial effects of the commercial glass packaging business as discontinued
operations.


Note:  This  Current  Report on Form 8-K and  incorporated  exhibits may contain
forward-looking  statements as encouraged by the Private  Securities  Litigation
Reform Act of 1995. Forward-looking statements are necessarily projections which
are subject to change upon the occurrence of certain events which may affect the
business,  many of which are set forth in the company's  Current  Report on Form
8-K filed with the Securities and Exchange Commission on July 16, 1996.



 (c)   Exhibits.

13.1   Ball Corporation and Subsidiaries
       Consolidated Financial Statements
       For the year ended December 31, 1995
13.2   Ball Corporation and Subsidiaries
       Unaudited Condensed Consolidated Financial Statements
       For the nine month period ended September 29, 1996
23.1   Consent of Independent Accountants
27.1   Restated Financial Data Schedule for the year ended December 31, 1995
27.2   Restated Financial Data Schedule for the year ended December 31, 1994
27.3   Restated  Financial  Data  Schedule  for  the  nine  month  period  ended
       September 29, 1996 
27.4   Restated  Financial  Data  Schedule  for  the  nine  month  period  ended
       October 1, 1995
27.5   Restated  Financial  Data  Schedule  for  the  six   month  period  ended
       June 30, 1996 
27.6   Restated  Financial  Data  Schedule  for  the  six  month   period  ended
       July 2, 1995
27.7   Restated  Financial  Data  Schedule  for  the  three month  period  ended
       March 31, 1996 
27.8   Restated  Financial  Data  Schedule  for  the three  month  period  ended
       April 2, 1995


       See Exhibit Index.



                                    SIGNATURE


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.

BALL CORPORATION
(Registrant)


By:                                      /s/  R. David Hoover
                                       R. David Hoover
                                       Executive Vice President,
                                       Chief Financial Officer and Treasurer

Date:                                     December 30, 1996




                                BALL CORPORATION
                                    FORM 8-K
                             Dated December 30, 1996

                                  EXHIBIT INDEX

Exhibit           Description

13.1       Ball Corporation and Subsidiaries
           Consolidated Financial Statements
           For the year ended December 31, 1995
13.2       Ball Corporation and Subsidiaries
           Unaudited Condensed Consolidated Financial Statements
           For the nine month period ended September 29, 1996
23.1       Consent of Independent Accountants
27.1       Restated Financial Data Schedule for the year ended December 31, 1995
27.2       Restated Financial Data Schedule for the year ended December 31, 1994
27.3       Restated  Financial  Data  Schedule for the  nine month period  ended
           September 29, 1996
27.4       Restated  Financial  Data  Schedule for the  nine month period  ended
           October 1, 1995
27.5       Restated Financial Data Schedule for  the  six   month  period  ended
           June 30, 1996 
27.6       Restated Financial Data Schedule for  the  six  month   period  ended
           July 2, 1995
27.7       Restated Financial Data Schedule for  the  three month  period  ended
           March 31, 1996 
27.8       Restated Financial Data Schedule for  the three  month  period  ended
           April 2, 1995