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): July 14, 1997
                                
                                
                         PEOPLES TELEPHONE COMPANY, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)


                NEW YORK                  0-16479          13-2626435   
         ------------------------     ----------------    --------------
        (State or other juris-        (Commission File    (IRS Employer 
         diction of incorporation)     Number)              I.D. No.)


         2300 N.W. 89th Place, Miami, Florida             33172     
        ---------------------------------------         ----------
        (Address of principal executive office)         (Zip Code)


Registrant's telephone number, including area code: (305) 593-9667
                                                    --------------



Item 5.   Other Events


     William A. Baum has been elected Chief Financial  Officer and a Senior Vice
President of the Company  effective as of July 16, 1997.  He succeeds  Bonnie S.
Biumi as Chief Financial Officer.



                                   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 hereunto duly authorized.



                                   PEOPLES TELEPHONE COMPANY, INC.



Date: July 17, 1997                /s/ Francis J. Harkins, Jr.
                                   -------------------------------------------
                                   Francis J. Harkins, Jr.
                                   Vice President