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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000928465-98-000013.txt : 19980218
<SEC-HEADER>0000928465-98-000013.hdr.sgml : 19980218
ACCESSION NUMBER:		0000928465-98-000013
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19980213
SROS:			NASD

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMCON DISTRIBUTING CO
		CENTRAL INDEX KEY:			0000928465
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-GROCERIES & GENERAL LINE [5141]
		IRS NUMBER:				470702918
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		
		SEC FILE NUMBER:	005-49417
		FILM NUMBER:		98536276

	BUSINESS ADDRESS:	
		STREET 1:		10228 L ST
		STREET 2:		POST OFFICE BOX 241230
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68127
		BUSINESS PHONE:		4023313727

	MAIL ADDRESS:	
		STREET 1:		10228 L STREET
		STREET 2:		POST OFFICE 241230
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68127

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PETERSEN ALLEN D
		CENTRAL INDEX KEY:			0001007425
		STANDARD INDUSTRIAL CLASSIFICATION:	 []

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		2800 W HIGGINS ROAD
		STREET 2:		SUITE 835
		CITY:			HOFFMAN ESTATES
		STATE:			IL
		ZIP:			60195
		BUSINESS PHONE:		8473103265

	MAIL ADDRESS:	
		STREET 1:		122 WEST COUNTY COUNTY LINE RD
		CITY:			BARRINGTON HILLS
		STATE:			IL
		ZIP:			60010
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<DESCRIPTION>SCHEDULE 13G AMENDMENT
<TEXT>



                                UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549


                                 SCHEDULE 13G
                  Under the Securities Exchange Act of 1934
                           (Amendment No.   1   )*
                                         -------



                          AMCON Distributing Company
                 --------------------------------------------
                               (Name of Issuer)

                    Common Stock, par value $.01 per share
                 --------------------------------------------
                        (Title of Class of Securities)


                                   0234IQ106
                              ------------------
                                (CUSIP Number)


     *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 page.

     The information required on 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.



CUSIP NO. 0234IQ106
          ---------

 (1)   Name of reporting person(s)  Allen D. Petersen
                                  --------------------------------------------
       S.S. or I.R.S. identification nos. of above persons   NOT REQUIRED
                                                          --------------------

(2)    Check the appropriate box if a member of a          (a) / /
       group (SEE INSTRUCTIONS)                            (b) / /

(3)    SEC USE ONLY


(4)    Citizenship or place of organization    United States
                                            ----------------------------------

Number of shares beneficially owned by each reporting person with:

 (5)   Sole voting power          4,000
                        ------------------------------------------------------

 (6)   Shared voting power      206,453 /1/
                          ----------------------------------------------------

 (7)   Sole dispositive power     4,000
                             -------------------------------------------------

 (8)   Shared dispositive power  206,453 /1/
                               -----------------------------------------------

 (9)   Aggregate amount beneficially owned by each reporting person   210,453
                                                                    ----------

(10)   Check if the aggregate amount in row (9) excludes certain shares   / /
       (SEE INSTRUCTIONS)

(11)   Percent of class represented by amount in row (9)   8.6%
                                                        ----------------------

(12)   Type of reporting person (SEE INSTRUCTIONS)   IN-Individual
                                                  ----------------------------

       /1/ Represent shares held by the Lifeboat Foundation, of which 
           Mr. Petersen is a director.


ITEM 1(a). NAME OF ISSUER:  AMCON Distributing Company

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

10228 "L" Street
Omaha, Nebraska 68127

ITEM 2 (a). NAME OF PERSON FILING: Allen D. Petersen

ITEM 2 (b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

2800 Higgins Road, Suite 835
Hoffman Estates, IL 60195

ITEM 2 (c). CITIZENSHIP:  United States

ITEM 2 (d). TITLE OF CLASS OF SECURITIES:

Common Stock, par value $.01 per share

ITEM 2. (e). CUSIP No.: 0234IQ106

ITEM 3. STATEMENTS FILED PURSUANT TO RULES 13D-1(B) OR 13D-2(B):

Not applicable

ITEM 4. OWNERSHIP:

(a)  Amount Beneficially Owned:  210,453

(b)  Percent of Class:  8.6%

(c)  Number of shares as to which such person has:

     (i)   sole power to vote or to direct the vote    4,000
                                                      ---------

     (ii)  shared power to vote or to direct the vote  206,453 /1/
                                                         --------

     (iii) sole power to dispose or to direct the disposition of    4,000
                                                                    ---------

     (iv)  shared power to dispose or to direct the disposition of 206,453 /1/ 
                                                                   --------

     /1/ Represent shares held by the Lifeboat Foundation, of which 
         Mr. Petersen is a director.

     INSTRUCTION.  For computations regarding securities which represent a
right to acquire an underlying security see Rule 13d-3(d)(1).


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

Not Applicable

ITEM 6. OWNERSHIP OR MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

Not Applicable

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
        SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:

Not Applicable

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

Not Applicable

ITEM 9. NOTICE OF DISSOLUTION OF GROUP:

Not Applicable

ITEM 10. CERTIFICATION:

Not Applicable



                             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.

Date: February 13, 1998               Allen D. Petersen
     ----------------------------     ----------------------------------------
                                      (Signature)

                                      Allen D. Petersen
                                      ----------------------------------------
                                      (Name/Title)

     The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative.  If the statement is
signed on behalf of a person by his authorized representative (other than an
executive officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed
with the statement, provided, however, that a power of attorney for this
purpose which is already on file with the Commission may be incorporated by
reference.  The name and any title of each person who signs the statement
shall be typed or printed beneath his signature.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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