We obtained X-ray spectra of the Seyfert 1 galaxy NGC 3516 in March 1995 using the Japanese X-ray satellite ASCA . Simultaneous far-UV observations were obtained with the Hopkins Ultraviolet Telescope on the Astro-2 shuttle mission . The ASCA spectrum shows a lightly absorbed power law of energy index 0.78 . The low energy absorbing column is significantly less than previously seen . Prominent O vii and O viii absorption edges are visible , but , consistent with the much lower total absorbing column , no Fe K absorption edge is detectable . A weak , narrow Fe K \alpha emission line from cold material is present as well as a broad Fe K \alpha line . These features are similar to those reported in other Seyfert 1 galaxies . A single warm absorber model provides only an imperfect description of the low energy absorption . In addition to a highly ionized absorber with ionization parameter U = 1.66 and a total column density of 1.4 \times 10 ^ { 22 } ~ { } cm ^ { -2 } , adding a lower ionization absorber with U = 0.32 and a total column of 6.9 \times 10 ^ { 21 } ~ { } cm ^ { -2 } significantly improves the fit . The contribution of resonant line scattering to our warm absorber models limits the Doppler parameter to < 160 ~ { } km~ { } s ^ { -1 } at 90 % confidence . Turbulence at the sound speed of the photoionized gas provides the best fit . None of the warm absorber models fit to the X-ray spectrum can match the observed equivalent widths of all the UV absorption lines . Accounting for the X-ray and UV absorption simultaneously requires an absorbing region with a broad range of ionization parameters and column densities .