-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Q5O7hartK1L4UojdzPbBb9eXwtoBwZjToR9wVq0AueiGlDoUaUJgmwWJtfgPqdEC fJKTM8Jdiv7TmNNZeOeJWw== 0000950137-97-002322.txt : 19970701 0000950137-97-002322.hdr.sgml : 19970701 ACCESSION NUMBER: 0000950137-97-002322 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970630 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BUTLER MANUFACTURING CO CENTRAL INDEX KEY: 0000015840 STANDARD INDUSTRIAL CLASSIFICATION: PREFABRICATED METAL BUILDINGS & COMPONENTS [3448] IRS NUMBER: 440188420 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12335 FILM NUMBER: 97632156 BUSINESS ADDRESS: STREET 1: BMA TOWER PENN VALLEY PARK STREET 2: P O BOX 419917 CITY: KANSAS CITY STATE: MO ZIP: 64141 BUSINESS PHONE: 8169683000 MAIL ADDRESS: STREET 1: BMA TOWER PENN VALLEY MALL STREET 2: P O BOX 419917 CITY: KANSAS CITY STATE: MO ZIP: 64141 11-K 1 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1996 Commission file number 001-12335 Galesburg Hourly Employee Savings Trust 401(k) Plan Butler Manufacturing Company BMA Tower Penn Valley Park Kansas City, MO 64108 2 INDEPENDENT AUDITOR'S REPORT To the Board of Trustees Butler Manufacturing Company Galesburg Hourly Employee Savings Trust Galesburg, Illinois We have audited the accompanying statements of net assets available for benefits of the Butler Manufacturing Company Galesburg Hourly Employee Savings Trust as of December 31, 1996 and 1995, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of Butler Manufacturing Company Galesburg Hourly Employee Savings Trust as of December 31, 1996 and 1995, and the changes in net assets available for benefits for the years then ended, in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of (1) assets held for investment, and (2) reportable transactions as of or for the year ended December 31, 1996, are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. McGLADREY & PULLEN, LLP Galesburg, Illinois June 6, 1997 2 3 BUTLER MANUFACTURING COMPANY GALESBURG HOURLY EMPLOYEE SAVINGS TRUST STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1996 AND 1995
1996 - -------------------------------------------------------------------------------------------------------------- FIDELITY FIDELITY BUTLER FIDELITY FIDELITY EQUITY- INTERNATIONAL STOCK PURITAN MAGELLAN INCOME GROWTH & ASSETS FUND FUND FUND FUND INCOME FUND - -------------------------------------------------------------------------------------------------------------- Investments, at fair value: Shares of registered investment companies $ 34,161 $ 528,748 $ 662,820 $ 308,892 $ 66,348 Shares of common/collective trusts Participant notes receivable 1,015 12,273 19,453 6,687 1,252 -------------------------------------------------------------------------- 35,176 541,021 682,273 315,579 67,600 Receivables: Participants' contributions - - - - - NET ASSETS AVAILABLE FOR BENEFITS $ 35,176 $ 541,021 $ 682,273 $ 315,579 $ 67,600 ==========================================================================
See notes to financial statements. 3 4
- ------------------------------------------------------------------------------------------------------------- FIDELITY FIDELITY FIDELITY FIDELITY ASSET ASSET RETIREMENT FIDELITY ASSET MANAGER MANAGER MONEY MANAGED MANAGER GROWTH INCOME MARKET INCOME FUND FUND FUND PORTFOLIO PORTFOLIO OTHER TOTAL - ------------------------------------------------------------------------------------------------------------- $ 8,372 $ 15,521 $ 9,720 $ 391,590 $ - $ - $ 2,026,172 353,221 353,221 379 490 490 8,108 10,885 61,032 - ------------------------------------------------------------------------------------------------------------- 8,751 16,011 10,210 399,698 364,106 2,440,425 - - - - - 51,851 51,851 - ------------------------------------------------------------------------------------------------------------- $ 8,751 $ 16,011 $ 10,210 $399,698 $ 364,106 $ 51,851 $ 2,492,276 =============================================================================================================
4 5 BUTLER MANUFACTURING COMPANY GALESBURG HOURLY EMPLOYEE SAVINGS TRUST STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS (CONTINUED) DECEMBER 31, 1996 AND 1995
1995 - ---------------------------------------------------------------------------------------------------------------------- FIDELITY FIDELITY FIDELITY FIDELITY EQUITY- INTERNATIONAL PURITAN MAGELLAN INCOME GROWTH & ASSETS FUND FUND FUND INCOME FUND - ---------------------------------------------------------------------------------------------------------------------- Investments, at fair value: Shares of registered investment companies $ 350,988 $ 448,357 $187,094 $ 36,576 Shares of common/collective trusts - - - - Participant notes receivable 5,365 12,078 4,007 513 -------------------------------------------------------------- 356,353 460,435 191,101 37,089 Receivables: Participants' contributions - - - - -------------------------------------------------------------- NET ASSETS AVAILABLE FOR BENEFITS $ 356,353 $ 460,435 $191,101 $ 37,089 ==============================================================
5 6
- ------------------------------------------------------------------------------------------------------------------- FIDELITY FIDELITY FIDELITY FIDELITY ASSET ASSET RETIREMENT FIDELITY ASSET MANAGER MANAGER MONEY MANAGED MANAGER GROWTH INCOME MARKET INCOME FUND FUND FUND PORTFOLIO PORTFOLIO OTHER TOTAL - ------------------------------------------------------------------------------------------------------------------- $4,258 $5,435 $5,099 $268,138 $ - $ - $1,305,945 255,567 255,567 513 513 513 5,419 1,784 30,705 - ------------------------------------------------------------------------------------------------------------------- 4,771 5,948 5,612 273,557 257,351 1,592,217 - - - - - 42,783 42,783 - ------------------------------------------------------------------------------------------------------------------- $4,771 $5,948 $5,612 $273,557 $257,351 $42,783 $1,635,000 ===================================================================================================================
6 7 BUTLER MANUFACTURING COMPANY GALESBURG HOURLY EMPLOYEE SAVINGS TRUST STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEARS ENDED DECEMBER 31, 1996 AND 1995
1996 - --------------------------------------------------------------------------------------------------------- FIDELITY FIDELITY BUTLER FIDELITY FIDELITY EQUITY- INTERNATIONAL STOCK PURITAN MAGELLAN INCOME GROWTH & FUND FUND FUND FUND INCOME FUND - --------------------------------------------------------------------------------------------------------- Investment income: Net appreciation (depreciation) in fair value of investments $5,503 $ 7,114 $(12,362) $ 28,936 $ 4,178 Interest and dividends 133 56,123 78,287 18,486 2,236 ------------------------------------------------------------------- 5,636 63,237 65,925 47,422 6,414 Participants' contributions 9,532 112,594 150,886 73,767 29,678 Employer contributions 730 14,935 20,418 10,088 4,251 ------------------------------------------------------------------- TOTAL ADDITIONS 15,898 190,766 237,229 131,277 40,343 ------------------------------------------------------------------- Benefits paid: Cash payments - 8,080 20,482 11,142 2,693 Transfers to another employer sponsored plan - 1,099 1,155 1,407 1,609 Administrative expenses 175 3,405 1,444 310 146 ------------------------------------------------------------------- TOTAL DEDUCTIONS 175 12,584 23,081 12,859 4,448 ------------------------------------------------------------------- NET INCREASE PRIOR TO INTERFUND TRANSFERS 15,723 178,182 214,148 118,418 35,895 Interfund transfers 19,453 6,486 7,690 6,060 (5,384) ------------------------------------------------------------------- NET INCREASE (DECREASE) 35,176 184,668 221,838 124,478 30,511 Net assets available for benefits: Beginning of year - 356,353 460,435 191,101 37,089 ------------------------------------------------------------------- End of year $35,176 $541,021 $682,273 $ 315,579 $67,600 ====================================================================
See notes to financial statements. 7 8
- ------------------------------------------------------------------------------------ FIDELITY FIDELITY FIDELITY FIDELITY ASSET ASSET RETIREMENT FIDELITY ASSET MANAGER MANAGER MONEY MANAGED MANAGER GROWTH INCOME MARKET INCOME FUND FUND FUND PORTFOLIO PORTFOLIO OTHER TOTAL - ------------------------------------------------------------------------------------ $ 177 $ 461 $ (8) $ - $ - $ - $ 33,999 645 1,354 648 17,196 17,694 - 192,802 - ------------------------------------------------------------------------------------ 822 1,815 640 17,196 17,694 - 226,801 3,183 7,428 5,146 100,408 81,989 51,851 626,462 391 975 709 15,363 12,445 - 80,305 - ------------------------------------------------------------------------------------ 4,396 10,218 6,495 132,967 112,128 51,851 933,568 - ------------------------------------------------------------------------------------ 604 719 1,086 7,533 10,255 - 62,594 - - - 683 963 - 6,916 17 34 13 850 388 - 6,782 - ------------------------------------------------------------------------------------ 621 753 1,099 9,066 11,606 - 76,292 - ------------------------------------------------------------------------------------ 3,775 9,465 5,396 123,901 100,522 51,851 857,276 205 598 (798) 2,240 6,233 (42,783) - - ------------------------------------------------------------------------------------ 3,980 10,063 4,598 126,141 106,755 9,068 857,276 4,771 5,948 5,612 273,557 257,351 42,783 1,635,000 - ------------------------------------------------------------------------------------ $8,751 $16,011 $10,210 $399,698 $364,106 $ 51,851 $2,492,276 ====================================================================================
8 9 BUTLER MANUFACTURING COMPANY GALESBURG HOURLY EMPLOYEE SAVINGS TRUST STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS (CONTINUED) YEARS ENDED DECEMBER 31, 1996 AND 1995
1995 - ----------------------------------------------------------------------------------------------------------------- FIDELITY FIDELITY FIDELITY FIDELITY EQUITY- INTERNATIONAL PURITAN MAGELLAN INCOME GROWTH & FUND FUND FUND INCOME FUND - ----------------------------------------------------------------------------------------------------------------- Investment income: Net appreciation (depreciation) in fair value of investments $ 34,646 $ 72,563 $ 25,939 $ 1,019 Interest and dividends 17,776 26,389 10,228 1,241 --------------------------------------------------------------- 52,422 98,952 36,167 2,260 Participants' contributions 102,987 119,724 46,319 21,859 --------------------------------------------------------------- TOTAL ADDITIONS 155,409 218,676 82,486 24,119 --------------------------------------------------------------- Benefits paid: Cash payments 2,296 13,274 2,575 - Transfers to another employer sponsored plan 217 281 1,921 - Administrative expenses 2,707 1,027 241 80 --------------------------------------------------------------- TOTAL DEDUCTIONS 5,220 14,582 4,737 80 --------------------------------------------------------------- NET INCREASE PRIOR TO INTERFUND TRANSFERS 150,189 204,094 77,749 24,039 Interfund transfers 17,767 28,510 22,566 7,022 --------------------------------------------------------------- NET INCREASE (DECREASE) 167,956 232,604 100,315 31,061 Net assets available for benefits: Beginning of year 188,397 227,831 90,786 6,028 --------------------------------------------------------------- End of year $ 356,353 $ 460,435 $ 191,101 $ 37,089 ===============================================================
9 10
- ------------------------------------------------------------------------------------------------------------------ FIDELITY FIDELITY FIDELITY FIDELITY ASSET ASSET RETIREMENT FIDELITY ASSET MANAGER MANAGER MONEY MANAGED MANAGER GROWTH INCOME MARKET INCOME FUND FUND FUND PORTFOLIO PORTFOLIO OTHER TOTAL - ------------------------------------------------------------------------------------------------------------------ $ 334 $ 386 $ 214 $ - $ - $ - $ $ 135,101 151 138 202 13,232 12,846 - 82,203 - ------------------------------------------------------------------------------------------------------------------ 485 524 416 13,232 12,846 - 217,304 2,556 4,053 3,811 92,943 81,618 42,783 518,653 - ------------------------------------------------------------------------------------------------------------------ 3,041 4,577 4,227 106,175 94,464 42,783 735,957 - ------------------------------------------------------------------------------------------------------------------ - - - 7,812 7,579 - 33,536 - - - 1,602 - - 4,021 17 8 4 585 378 - 5,047 - ------------------------------------------------------------------------------------------------------------------ 17 8 4 9,999 7,957 - 42,604 - ------------------------------------------------------------------------------------------------------------------ 3024 4,569 4,223 96,176 86,507 42,783 693,353 385 241 293 (5,814) 3,528 (74,498) - - ------------------------------------------------------------------------------------------------------------------ 3,409 4,810 4,516 90,362 90,035 (31,715) 693,353 1,362 1,138 1,096 183,195 167,316 74,498 941,647 - ------------------------------------------------------------------------------------------------------------------ $4,771 $5,948 $5,612 $273,557 $257,351 $ 42,783 $ $1,635,000 ==================================================================================================================
10 11 NOTE 1. SIGNIFICANT ACCOUNTING POLICIES Valuation of investments: The Plan's investments are stated at fair value. Shares of registered investment companies and common/collective trusts are valued at quoted market prices which represent the net asset value of shares held by the Plan at year-end. Participant notes receivable are valued at cost which approximates fair value. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Payment of benefits: Benefits are recorded when paid. Accounting estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. NOTE 2. PLAN DESCRIPTION The following description of the Plan provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. General: The Plan is a defined contribution plan covering all union hourly employees of Butler Manufacturing Company in Galesburg who have four months of service. Participants may also contribute amounts representing distributions from other qualified defined benefit or contribution plans. It is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Contributions: Each year, participants may contribute up to 15% of their compensation including overtime and bonuses. For 1996 and 1995, the maximum dollar contribution amount allowed under the Internal Revenue Code was $9,500. Butler Manufacturing Company may make discretionary matching contributions in an amount up to 25% of the first 6% that a participant contributes to the plan. Participant accounts: Each participant's account is credited with the participant's contributions and allocations of, (a) the Company's contribution; and (b) plan earnings, and charged with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined by the Plan. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account. Vesting: Participants are immediately vested in their voluntary contributions and employer contributions, plus actual earnings thereon. Investment options: Upon enrollment in the Plan, a participant may direct contributions in one percent increments in any of nine investment options. 11 12 NOTE 2. PLAN DESCRIPTION (CONTINUED) - - Butler Stock Fund - Funds are invested primarily in shares of the common stock of Butler Manufacturing Company, with 3.5% to 6.5% of the fund invested in short-term liquid investments maintained by Fidelity. - - Fidelity Puritan Fund - Funds are invested in a broadly diversified portfolio of domestic and foreign common stocks, preferred stocks and bonds, including lower-quality, high-yield debt securities. - - Fidelity Magellan Fund - Funds are invested in the stocks of both well-known and lesser known companies with potentially above-average growth potential and a corresponding higher level of risk. - - Fidelity Equity-Income Fund - Funds are invested primarily in income- producing equity securities (common and preferred stocks) but can also invest in bonds and convertible securities. - - Fidelity International Growth & Income Fund - Funds are invested principally in foreign securities. The majority of the fund is normally invested in equity securities selected primarily on the basis of their capital growth potential. These assets are usually invested in six or more countries including the United States. At least 25 percent of the Fund's total assets are normally invested in bonds for income. - - Fidelity Asset Manager Fund - Funds are invested in domestic and foreign (including emerging markets which involve greater risks) equities, bonds and short-term instruments. The Fund's neutral mix is normally 20 percent of total assets in short-term instruments, 40 percent in intermediate to long-term bonds and 40 percent in equity securities. - - Fidelity Asset Manager: Growth Fund - Funds are invested in domestic and foreign (including emerging markets which involve greater risks) stocks, bonds and short-term instruments. The Fund's neutral asset allocation would consist of approximately 65 percent stocks, 30 percent bonds and 5 percent short-term instruments. - - Fidelity Asset Manager: Income Fund - Funds are invested in domestic and foreign stocks (including emerging markets which involve greater risks), bonds and short-term instruments. The Fund's neutral asset mix is approximately 50 percent short-term instruments, 30 percent bonds and 20 percent stocks. - - Fidelity Retirement Money Market Portfolio - Funds are invested in high quality, short-term money market securities of U.S. and foreign issuers. - - Fidelity Managed Income Portfolio - Funds are invested in investment contracts offered by major insurance companies and other approved financial institutions and short-term instruments to provide for liquidity needs. 12 13 NOTE 2. PLAN DESCRIPTION (CONTINUED) Participant notes - Participants may borrow from their participant accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50 percent of their account balance. Loan terms range from 1-5 years or up to 30 years for the purchase of a primary residence. The loans are secured by the balance in the participant's account and bear interest at a rate as determined by the Plan administrator. The interest rate is 9 percent. Principal and interest is paid ratably through payroll deductions. Participants may change their investment options at any time pursuant to procedures established by the Administrative Committee. Payment of benefits: On termination of service, a participant receives a lump-sum distribution in cash or in kind, as elected by the participant, equal to the value of his or her account. Withdrawals: Participants may, while employed, withdraw amounts from their account provided the withdrawal is approved by the Administrative Committee and the withdrawal is for a hardship. NOTE 3. RELATED PARTY TRANSACTIONS Fidelity Management Trust Company is a trustee as defined by the Plan. Fidelity Management Trust Company is an affiliate of FMR Corp., which is the parent of Fidelity Management Research Company. Certain Plan investments are shares of registered investment companies and shares of common/collective trusts managed by Fidelity Management & Research Company. Therefore, these investments qualify as party-in-interest. Fees paid by the Plan for the investment management services are reported as administrative expenses in the accompanying financial statements. NOTE 4. PLAN TERMINATION Although it has not expressed any intent to do so, the Company has the right under the Plan to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will receive distributions of the full value in their accounts. NOTE 5. ASSETS HELD BY TRUSTEE The Plan's investments are held by Fidelity Management Trust Company. NOTE 6. INCOME TAX STATUS The Internal Revenue Service has determined and informed the Company by a letter dated December 22, 1994, that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code (IRC). The Plan has been amended since it was submitted to the Internal Revenue Service. However, the Plan administrator and the Plan's tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. 13 14 BUTLER MANUFACTURING COMPANY GALESBURG HOURLY EMPLOYEE SAVINGS TRUST
SCHEDULE I - ASSETS HELD FOR INVESTMENT DECEMBER 31, 1996 NUMBER OF SHARES COST FAIR VALUE - ---------------------------------------------------------------------------------------------------- Shares of registered investment companies: Butler Stock Fund 2,939.809 $ 28,628 $ 34,161 Fidelity Puritan Fund 30,669.827 496,525 528,748 Fidelity Magellan Fund 8,218.472 591,597 662,820 Fidelity Equity-Income Fund 7,212.058 254,785 308,892 Fidelity International Growth & Income Fund 3,393.768 61,862 66,348 Fidelity Asset Manager Fund 508.313 7,911 8,372 Fidelity Asset Manager: Growth Fund 949.267 14,759 15,521 Fidelity Asset Manager: Income Fund 837.231 9,530 9,720 Fidelity Retirement Money Market Portfolio 391,590.000 391,590 391,590 Shares of common/collective trusts: Fidelity Managed Income Portfolio 353,221.420 353,221 353,221
14 15 BUTLER MANUFACTURING COMPANY GALESBURG HOURLY EMPLOYEE SAVINGS TRUST SCHEDULE II - REPORTABLE TRANSACTIONS YEAR ENDED DECEMBER 31, 1996
TOTAL TOTAL TOTAL TOTAL NUMBER OF NUMBER OF PURCHASE SELLING NET DESCRIPTION OF ASSET PURCHASES SALES PRICE PRICE GAIN(LOSS) - ------------------------------------------------------------------------------------------------------------------ Fidelity Puritan Fund 49 28 $200,887 $30,241 $ 1,991 Fidelity Magellan Fund 49 30 270,685 43,860 2,703 Fidelity Equity-Income Fund 41 23 113,100 20,238 2,378 Fidelity Retirement Money Market Portfolio 36 28 144,950 21,498 - Fidelity Managed Income Portfolio 35 30 124,386 26,732 -
15 16 THE PLAN. Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee of the Plan has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. Galesburg Hourly Employee Savings Trust Date: By: /s/ John J. Holland ---------------------- ------------------------------- John J. Holland, Member of the Administrative Committee 16 17 EXHIBIT INDEX Exhibit Number Descripton - --------------- --------------------------------------- 23 Independent Auditors' Consent 17 EX-23 2 CONSENT 1 EXHIBIT 23 INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in the Registration Statement on Form S-8 (File No. 333-022-85) under the Securities Act of 1933 of Butler Manufacturing Company of our report dated June 6, 1997, on our audits of the financial statements of Butler Manufacturing Company Galesburg Hourly Employee Savings Trust as of December 31, 1996 and 1995 and for each of the two years ended December 31, 1996 and supporting schedules as of December 31, 1996, which is included in the Annual Report on Form 11-k for the year ended December 31, 1996. McGLADREY & PULLEN, LLP McGLADREY & PULLEN, LLP Galesburg, Illinois June 19, 1997 18 -----END PRIVACY-ENHANCED MESSAGE-----