SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 8)

THE OILGEAR COMPANY

---------------------------------------

(Name of Issuer)

Common Stock, $1.00 par value

------------------------------------------

(Title of Class of Securities)

678042102

---------------------------------------

(CUSIP Number)

December 31, 2004

---------------------------------------

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[ X ]	Rule 13d-1(b)
[ ]	Rule 13d-1(c)
[ ]	Rule 13d-1(d)

*	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 cover page.

	The information required in 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.

SCHEDULE 13G

CUSIP No. 678042102

Page 2 of 7

1.	NAME OF REPORTING PERSON

			MARSHALL & ILSLEY CORPORATION

			I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

			39-0968604

2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

			(a) [ ]
			(b) [ ]

3.	SEC USE ONLY


4.	CITIZENSHIP OR PLACE OF ORGANIZATION

			WISCONSIN

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

5.	SOLE VOTING POWER

		150

6.	SHARED VOTING POWER

		964,784*

7.	SOLE DISPOSITIVE POWER

		150

8.	SHARED DISPOSITIVE POWER

		964,784*

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

		964,784*
____________________
*Beneficial ownership of 964,784 shares is specifically disclaimed. See Item 4.

SCHEDULE 13G

CUSIP No. 678042102

Page 3 of 7

10.	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]

		Not Applicable

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

		49.2%

12.	TYPE OF REPORTING PERSON

		HC

SCHEDULE 13G

CUSIP No. 678042102

Page 4 of 7

ITEM 1	(a)	NAME OF ISSUER

	THE OILGEAR COMPANY

	(b)	ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES

	2300 SOUTH 51ST STREET, P. O. BOX 343924, MILWAUKEE, WI 53234-3924

ITEM 2	(a)	NAME OF PERSON FILING

	MARSHALL & ILSLEY CORPORATION

	(b)	ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE

	770 NORTH WATER STREET, MILWAUKEE, WISCONSIN 53202

	(c)	CITIZENSHIP

	WISCONSIN CORPORATION

	(d)	TITLE OF CLASS OF SECURITIES

	COMMON STOCK

	(e)	CUSIP NUMBER

	678042102

ITEM 3.	IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 13d-1(b) OR 13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A:

	(a)		[ ]	Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);
	(b)		[ ]	Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);
	(c)		[ ]	Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);
	(d)		[ ]	Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
	(e)		[ ]	An investment adviser in accordance with Section 13d-1(b)(1)(ii)(E);
	(f)		[ ]	An employee benefit plan or endowment fund in accordance with Section 13d-1(b)(1)(ii)(F);

SCHEDULE 13G

CUSIP No. 678042102

Page 5 of 7

ITEM 3. Continued	(g)	[X]	A parent holding company or control person in accordance with Section 13d-1(b)(1)(ii)(G);
	(h)	[ ]	A savings association defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
	(i)	[ ]	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
	(j)	[ ]	Group, in accordance with Section 13d-1(b)(1)(ii)(J).


ITEM 4.	OWNERSHIP

	(a)	Amount Beneficially Owned		964,934*

	(b)	Percent of Class		49.2%

	(c)	Number of Shares as to which the person has:

		(i)	Sole power to vote or to direct the vote	150

		(ii)	Shared power to vote or to direct the vote	964,784*

		(iii)	Sole power to dispose or to direct the disposition of	150

		(iv)	Shared power to dispose or to direct the disposition of	964,784*

	*Includes 964,784 shares held in one or more employee benefit plans where Marshall & Ilsley Trust Company N.A., as custodian, may be viewed as having voting or dispositive authority in certain situations pursuant to Department of Labor regulations or interpretations or federal case law. Pursuant to Rule 13d-4 under the Act, inclusion of such shares in this statement shall not be construed as an admission that the Reporting Person or its subsidiaries are, for purposes of Sections 13(d) or 13(g) of the Act, the beneficial owners of such securities.

ITEM 5	OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

	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 of securities, check the following [ ]

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

	Trust beneficiaries and customers are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the subject securities. The following persons are believed to possess such an interest relating to more than 5% of the class of subject securities:

	Oilgear Salaried Retirement Plan Oilgear Stock Retirement Plan Oilgear Company Stock Fund

SCHEDULE 13G

CUSIP No. 678042102

Page 6 of 7


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

	See Exhibit 1

ITEM 8.	IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

	Not Applicable

ITEM 9.	NOTICE OF DISSOLUTION OF GROUP

	Not Applicable

ITEM 10.	CERTIFICATION

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

Dated as of the 11th day of February, 2005.

/s/ Randall J. Erickson

Randall J. Erickson

Senior Vice President, General Counsel and Secretary

CUSIP No. 678042102

Page 7 of 7

Exhibit 1

ITEM 7 INFORMATION

Marshall & Ilsley Corporation is the parent holding company of Marshall & Ilsley Trust Company N.A., a bank as defined in Section 3(a)(6) of the Act.

OILGEAR CO SC 13G/A