SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Lydall, Inc.
____________________________________________________________
(Name of Issuer)
Common Stock
____________________________________________________________
(Title of Class of Securities)
550819106
_____________________
(CUSIP Number)
Check the following box if a fee is being paid with this statement ________
A fee is not required only if the filing 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 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 (however, see
the Notes).
SEC 1745 (5-87)
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CUSIP No. 550819106 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
REICH & TANG ASSET MANAGEMENT, LLC
13-41633687
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a) (b)
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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5 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------
BENEFICIALLY --------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 974,000
WITH
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7 SOLE DISPOSITIVE POWER
0
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8 SHARED DISPOSITIVE POWER
974,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
974,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.00%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1 (a). Name of Issuer
The name of the issuer, to whose class of equity security this Schedule is
Lydall, Inc.
Item 1 (b). Address of Issuer's Principal Executive Offices
The address of the Issuer's principal offices is One Colonial Road,
Manchester, CT 06040
Item 2 (a). Name of Person Filing
The person filing this Schedule is Reich & Tang Asset Management, LLC (the
"Reporting Person")
Item 2 (b). Address of Principal Business Office or, if None, Residence
The principal business address of the Reporting Person is 600 Fifth Avenue,
New York, NY 10020.
Item 2 (c). Citizenship
The Reporting Person is a United States citizen.
Item 2 (d). Title of Class of Securities
The class of equity security to which this schedule relates is the Issuer's
Common Stock, (the "Common Stock").
Item 2 (e). CUSIP No.
The CUSIP number assigned to the Common Stock is 550819106
Item 3. If this statement is Filed Pursuant to Rules 13d-1(b), or 13d-2(b),
Check Whether the Person Filing is a
Reich & Tang Asset Management, LLC is an investment adviser registered
under Section 203 of the Investment Advisers Act of 1940.
Item 4. Ownership
The shares of the Common Stock owned beneficially owned by Reich & Tang
Asset Management, LLC and covered by this Schedule amount to 974,000 shares,
constituting 6.00% of the outstanding shares of the Common Stock. Reich & Tang
Asset Management, LLC has the shared power to vote and direct the vote for
974,000 shares of Common Stock and to dispose of or direct the disposition of
974,000 shares of Common Stock.
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
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Item 6. Ownership of More than Five Percent on Behalf of Another Person
The securities as to which this Schedule is filed by Reich & Tang Asset
Management, LLC, in its capacity as investment adviser, are owned of record by
clients of Reich & Tang Asset Management, LLC. Those clients have theright to
receive, or the power to direct the receipt of, dividends from, or the proceeds
from the sale of, such securities. No such client is known to have such right
or power with respect to more than five percent of this class of securities,
except as follows:
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 Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
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CERTIFICATION
The undersigned certifies that to his/her best belief and knowledge, the
securities reported herein were acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer or such securities
and were not acquired in connection with or as a participant in any transaction
having such purpose of effect.
February 14, 2007
REICH & TANG ASSET MANAGEMENT, LLC
BY /s/Michael D. Appleton
Michael D. Appleton
Chief Compliance Officer & Secretary
Reich & Tang Asset Management, LLC
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