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


                                  SCHEDULE 13D



                    Under the Securities Exchange Act of 1934
                                (Amendment No 2)*


                   Universal Stainless & Alloy Products, Inc.
- --------------------------------------------------------------------------------
                                (Name of Issuer)

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

                                    913837100
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

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.)

*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).





1      NAME OF  REPORTING  PERSON
       S.S.  OR I.R.S.  IDENTIFICATION  NO. OF ABOVE PERSON
       Rajah Corp. 13-3633222

2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (a) [ ]  (b) [ ]


3      SEC USE ONLY

4      CITIZENSHIP OR PLACE OF ORGANIZATION
       Delaware
                      5       SOLE VOTING POWER
                              268,000 shs.
     NUMBER OF
       SHARES         6       SHARED VOTING POWER
    BENEFICIALLY              -0-
      OWNED BY
        EACH          7       SOLE DISPOSITIVE POWER
     REPORTING                268,000 shs.
       PERSON
        WITH          8       SHARED DISPOSITIVE POWER
                              -0-

9      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
       268,000 shs.

10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
       N/A

11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
       4.3%

12     TYPE OF REPORTING PERSON
       CO




Item 1.

(a)      Name of issuer:
         Universal Stainless & Alloy Products, Inc.

(b)      Address of Issuer's Principal Executive Offices:
         600 Mayer Street
         Bridgeville, PA  15017

Item 2.

The name, address and certain other information  concerning the filing person is
as follows:  Rajah Corp.,  a Delaware  corporation,  whose  address is 900 Third
Avenue, New York, NY 10022.

The title of the class of  securities  as to which this report  applies:  Common
Stock, $.001 par value, of Universal Stainless & Alloy Products, Inc. (CUSIP No.
913837100)

Item 3.

N/A

Item 4.

The amount of shares beneficially owned by the filing person, and the percent of
class is: 268,000 shares (4.3%). The filing person has the sole power to vote or
to direct the vote,  and the sole power to dispose or direct the  disposition of
all such shares.

Item 5.

If this  statement  is being filed to report the fact that as of the date hereof
the  reporting  person has ceased to be the  beneficial  owner of more than five
percent of the class securities, check the following |X|

Item 6.

N/A

Item 7.

N/A

Item 8.

N/A

Item 9.

N/A

Item 10.

By signing below I certify  that,  to the best of my knowledge  and belief,  the
securities  referred to above were  acquired in the ordinary  course of business
and were not  acquired for the purpose of and do not have the effect of changing
or  influencing  the  control  of the  issuer  of such  securities  and sere not
acquired in connection with or as a participant in any  transaction  having such
purposes or effect.

                                    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.


                                                     February 13, 1998
                                                     -----------------
                                                     Date


                                                     /s/ Gerald A. Eppner
                                                     --------------------
                                                     Signature


                                                     Gerald A. Eppner, Secy.
                                                     ---------------------------
                                                     Name/Title