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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                  SCHEDULE 13D
                   Under the Securities Exchange Act of 1934
                               (Amendment No. 2 )*

                               LB FOSTER COMPANY
- -------------------------------------------------------------------------------
                                (Name of Issuer)

                              CLASS A COMMON STOCK
- -------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   350060109
                               -----------------
                                 (CUSIP Number)

                 GINO PHILLIP ZAVARELLA, ESQ., GENERAL COUNSEL
                             MAXUS INVESTMENT GROUP
                        28601 CHAGRIN BLVD. - SUITE 500
                             CLEVELAND, OHIO 44122
                                 (216) 687-1000
- -------------------------------------------------------------------------------
          (Name, Address and Telephone Number of Person Authorized to
                       Receive Notice and Communications)

                                FEBRUARY 3, 1997
            --------------------------------------------------------
            (Date of Event which Requires Filing of this Statement)

If the filing person has previously  filed a statement on Schedule 13G to report
the  acquisition  which is the subject of this  Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |__|.

Check the following  box if a fee is being paid with the statement  |__|. (A fee
is not required only if the reporting  person:  (1) has a previous  statement on
file  reporting  beneficial  ownership of more than five percent of the class of
securities  described  in Item 1;  and (2) has  filed  no  amendment  subsequent
thereto reporting  beneficial  ownership of five percent or less of such class.)
(See Rule 13d-7).

Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.

* 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
disclosures provided in a prior cover 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 (however, see the Notes).


SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP NO.   350060109
- -------------------------------------------------------------------------------
1      NAME OF REPORTING PERSON
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard A. Barone  /  SS # ###-##-####
- -------------------------------------------------------------------------------
2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a) |_|   (b) |_|
- -------------------------------------------------------------------------------
3      SEC USE ONLY
- -------------------------------------------------------------------------------
4      SOURCE OF FUNDS*
        00
- -------------------------------------------------------------------------------
5      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
         ITEMS 2(d) or 2(e)                                                 |_|
- -------------------------------------------------------------------------------
6      CITIZENSHIP OR PLACE OF ORGANIZATION
         USA
- -------------------------------------------------------------------------------
                        7    SOLE VOTING POWER
NUMBER OF                       0
SHARES
BENEFICIALLY            -------------------------------------------------------
OWNED BY                8    SHARED VOTING POWER
EACH                            0
REPORTING               -------------------------------------------------------
PERSON                   9    SOLE DISPOSITIVE POWER
WITH                                    0
                        -------------------------------------------------------
                        10    SHARED DISPOSITIVE POWER
                                             748,400
- -------------------------------------------------------------------------------
11     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                        748,400
- -------------------------------------------------------------------------------
12     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                                                                        |_|
- -------------------------------------------------------------------------------
13     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                         7.53 %
- -------------------------------------------------------------------------------
14     TYPE OF REPORTING PERSON*
                              IN
- -------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7 (INCLUDING EXHIBITS)
                OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP NO.   350060109
- -------------------------------------------------------------------------------
1      NAME OF REPORTING PERSON
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Maxus Asset Management Inc.  /  ID  # 34-1172683
- -------------------------------------------------------------------------------
2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a) |_|   (b) |_|
- -------------------------------------------------------------------------------
3      SEC USE ONLY
- -------------------------------------------------------------------------------
4      SOURCE OF FUNDS*
        00
- -------------------------------------------------------------------------------
5      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
         ITEMS 2(d) or 2(e)                                                 |_|
- -------------------------------------------------------------------------------
6      CITIZENSHIP OR PLACE OF ORGANIZATION
           Ohio
- -------------------------------------------------------------------------------
                        7    SOLE VOTING POWER
NUMBER OF                       0
SHARES
BENEFICIALLY            -------------------------------------------------------
OWNED BY                8    SHARED VOTING POWER
EACH                            0
REPORTING               -------------------------------------------------------
PERSON                  9    SOLE DISPOSITIVE POWER
WITH                                    0
                        -------------------------------------------------------
                        10    SHARED DISPOSITIVE POWER
                                             713,400
- -------------------------------------------------------------------------------
11     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                        713,400
- -------------------------------------------------------------------------------
12     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                                                                        |_|
- -------------------------------------------------------------------------------
13     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                         7.18 %
- -------------------------------------------------------------------------------
14     TYPE OF REPORTING PERSON*
                              IA
- - -----------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7 (INCLUDING EXHIBITS)
                OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP NO.   350060109
- -------------------------------------------------------------------------------
1      NAME OF REPORTING PERSON
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Maxus Securities Corp   /  ID # 34-1151160
- -------------------------------------------------------------------------------
2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a) |_|   (b) |_|
- -------------------------------------------------------------------------------
3      SEC USE ONLY
- -------------------------------------------------------------------------------
4      SOURCE OF FUNDS*
          00
- -------------------------------------------------------------------------------
5      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
         ITEMS 2(d) or 2(e)                                                 |_|
- -------------------------------------------------------------------------------
6      CITIZENSHIP OR PLACE OF ORGANIZATION
        Ohio
- -------------------------------------------------------------------------------
                        7    SOLE VOTING POWER
NUMBER OF                       0
SHARES
BENEFICIALLY          ---------------------------------------------------------
OWNED BY                8    SHARED VOTING POWER
EACH                            0
REPORTING             ---------------------------------------------------------
PERSON                  9    SOLE DISPOSITIVE POWER
WITH                                    0
                      ---------------------------------------------------------
                        10    SHARED DISPOSITIVE POWER
                                             35,000
- -------------------------------------------------------------------------------
11     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                       35,000
- -------------------------------------------------------------------------------
12     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                                                                        |_|
- -------------------------------------------------------------------------------
13     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                         .35 %
- -------------------------------------------------------------------------------
14     TYPE OF REPORTING PERSON*
                             CO
- -------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEM 1-7 (INCLUDING EXHIBITS)
                OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


                        Amendment No. 2 to Schedule 13D


Item 1.         Security and Issuer

     This Statement relates to the shares of Beneficial Interest (the "Share s")
of L.B.  Foster  Company.  The  address of  Issuer's  principal  officers is 415
Holiday Drive, Pittsburgh, Pennsylvania 15220.

Item 2.         Identity and Background

     This Amendment Statement is filed on behalf of all persons and entities and
participants of Resource Management, Inc., an entity incorporated under the laws
of the  State  of  Ohio  and  commonly  known  as  the  Maxus  Investment  Group
(hereinafter  "MIG"),  Richard  A.  Barone,  an  individual   (hereinafter  "Mr.
Barone"),  Maxus Asset Management Inc, an entity  incorporated under the laws of
the State of Ohio  (hereinafter  "MAM"),  and Maxus  Securities  Corp, an entity
incorporated  under  the laws of the  State  of Ohio  (hereinafter  "MSC").  The
aforementioned  person and entities are  collectively  referred to herein as the
"Filing Persons". The business address of the aforementioned person and entities
is 28601 Chagrin Boulevard - Suite 500, Cleveland, Ohio 44122.

     The Filing  Persons  each  disclaim  membership  in a Group as such term is
defined in Section 13(d)(3) of the Securities Exchange Act of 1934 and the Rules
and Regulations  promulgated thereunder.  However,  because of the relationships
between and among the Filing Persons described  herein,  they determined to make
this filing.

     MAM is a registered  investment  advisor having the power to dispose of the
Shares owned by the  investment  clients for which it acts as advisor.  MSC is a
broker-dealer.  MIG is a financial  services  corporation  which owns all of the
outstanding shares of MAM and MSC. Mr. Barone is the controlling  shareholder of
MIG and is  principally  employed as Chairman and  President of MIG, MAM and MSC
and as Chairman of Maxus Income Fund, Maxus Equity Fund and Maxus Laureate Fund,
all of which  are  registered  under the  Investment  Company  Act of 1940.  See
Exhibit A attached to this amended  Schedule 13D for  additional  information on
executive officers.

Item 3.         Source and Amount of Funds or Other Consideration

     MAM owns no Shares directly but may be deemed to  beneficially  own (within
the meaning of Rule  13(d)(3) of the  Securities  Exchange Act of 1934)  713,400
Shares purchased by MAM for the account of its investment clients. MAM disclaims
beneficial ownership of such Shares.

     MSC owns no Shares directly but may be deemed to  beneficially  own (within
the meaning of Rule  13(d)(3) of the  Securities  Exchange  Act of 1934)  35,000
Shares purchased by MSC for the account of its brokerage clients.  MSC disclaims
beneficial ownership of such shares.

Item 4.         Purpose of Transaction

     The Filing Persons acquired Shares to establish investment positions in the
Issuer.  Subject to market and business conditions and other factors, the Filing
Persons may intend to purchase additional Shares.  However,  depending upon such
factors,  the Filing Persons may also maintain their present ownership of Shares
or sell some or all of the Shares.


Item 5.         Interest in Securities of the Issuer

        Set forth below for the Filing Persons, in the aggregate,  is the number
of Shares which may be deemed to be  beneficially  owned as of February 3, 1997,
and the  percentage  of the Shares  outstanding  represented  by such  ownership
(based on 9,937,738 Shares outstanding):

        Name:                           No. of Shares   Percent of Class

Maxus Asset Management, Inc(1)          713,400                7.18 %

Maxus Securities Corp(2)                 35,000                0.35 %

Total(3)                                748,400                7.53 %

These  Shares  are owned by  investment  clients of MAM and MAM may be deemed to
beneficially  own these  Shares by reason of its power to dispose of such Shares
under its  Investment  Management  Agreement  with such clients.  MAM,  however,
disclaims  beneficial  ownership of all such  Shares.  These Shares are owned by
brokerage  clients of MSC. MSC may be deemed to beneficially own these Shares by
virtue of such  relationship,  although it has no  contractual  power to vote or
dispose of such Shares. MSC disclaims beneficial ownership of all such Shares.

     Mr.  Barone  owns no Shares  directly  but, by virtue of his  positions  as
Chairman and President of MAM and MIG he may be deemed to  beneficially  own the
748,400 Shares which may be deemed to be  beneficially  owned by MAM. Mr. Barone
disclaims beneficial ownership of all such Shares.

     MIG owns no Shares directly and MIG may be deemed to  beneficially  own the
748,400  Shares  which  may be  deemed  to be  beneficially  owned by MAM.  MIG,
however, disclaims beneficial ownership of all such Shares.

     MAM and its  investment  clients  share the power to  dispose of the Shares
which  may be  deemed  to be  beneficially  owned  by MAM.  By  virtue  of their
relationship  to MAM, MIG and Mr. Barone may also be deemed to share such power.
None of the Filing Persons has any power to vote the Shares.

     Exhibit B attached hereto sets forth the transactions in Shares effected by
the Filing Persons since original filing, the dates of such transactions and the
per Share purchase price. The Shares were traded on the NASDAQ.

Item 6.      Contracts, Arrangements, Understanding orRelationships with Respect
to Securities of the Issuer.

        Except  as  set  forth  in  this  Statement,  there  are  no  contracts,
arrangements,  understanding  or  relationships  (legal or otherwise)  among the
Filing Persons or between any of the Filing  Persons and any other person,  with
respect to any Shares.

Item 7.       Material to be Filed as Exhibits

        Exhibit A Description  of Directors  and  Executive  officers of MAM and
MIG.

        Exhibit B       Transactions in Shares since 12/03/1996


                                   Signatures
        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.
                        Maxus Asset Management

Date: 02/03/97          by: ___/s/ Richard A. Barone__
                        Richard A. Barone, President

                        Maxus Securities Corp

Date: 02/03/97          by: ___/s/ Richard A. Barone__
                        Richard A. Barone, President

                        Maxus Investment Group

Date: 02/03/97          by: ___/s/ Richard A. Barone__
                        Richard A. Barone, President

                        Richard A. Barone

Date: 02/03/97          by: ___/s/ Richard A. Barone__
                        Richard A. Barone


                        Exhibit A

Entity                          Directors(1)(2)         Executive Officers

Maxus Asset Management, Inc.    Richard A. Barone       Richard A. Barone,
                                                        Chairman & President
                                Umberto P. Fedeli
                                                        Robert W. Curtin,       
                                                        Secretary & Sr.
                                                        Vice-President
                                Gino P. Zavarella


Maxus Securities Corp.          Richard A. Barone       Richard A. Barone,
                                                        Chairman & President
                                Robert W. Curtin        Robert W. Curtin,
                                                        Secretary & Sr.
                                                        Vice-President
                                Gino P. Zavarella


Maxus Investment Group          Richard A. Barone       Richard A. Barone,
                                                        Chairman & President
                                Robert W. Curtin        Robert W. Curtin,
                                                        Secretary & Sr.
                                                        Vice-President
                                Robert F. Pincus        Vice-President

(1)      All Directors and  Executive  Officers  listed above is a United States
citizen.

(2)     The business address of the Filing Persons are as follows:

     Richard A. Barone, Robert W. Curtin, Robert F. Pincus and Gino P. Zavarella
     and Maxus Asset Management, Inc. and Maxus Investment Group:
     28601 Chagrin Boulevard - Suite 500, Cleveland, Ohio  44122;

        The business address of Umberto P. Fedeli is:
     5005 Rockside Road, Independence, Ohio  44131.


                                    Exhibit B

                             Maxus Asset Management
                         Securities cross-reference for
                                  LB Foster Co.
                                     (FSTRA)

Trade Date                   Dollar Amount

01-24-97                        8249.75
12-05-96                        6930
01-10-97                        15150
12-17-96                        6824.95
01-06-97                        8099.75
01-06-97                        12334.75
01-03-97                        7849.75
01-10-97                        7599.75
01-24-97                        12684.25
01-23-97                        6061
01-23-97                        20109.35
01-23-97                        34318.75
01-10-97                        7599.75
01-16-97                        7974.75
01-23-97                        40223.45
01-14-97                        5875.75
01-14-97                        3914
12-19-96                        13261
12-19-96                        4260.94
01-24-97                        8207.75
01-24-97                        4101.5
01-24-97                        9741.07
01-24-97                        8474.75
01-24-97                        8224.75
01-28-97                        8349.75
01-28-97                        8457.75
01-28-97                        12679.5
01-28-97                        20820
01-28-97                        8474.75
01-23-97                        8224.75
01-06-97                        7849.75
01-13-97                        3814.75
01-21-97                        7974.75
01-24-97                        8457.75
01-24-97                        12867
01-06-97                        9457.75
12-06-96                        19721.82