-----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, MXDFGCR3wNuu2SSsD1WDprD7ruA4Qo1TACEjwyOW6pibnXP2mhlabkvhvg1JsdMO 96lTvYR+Uz7/t5UflcMpYA== 0000025445-99-000008.txt : 19990701 0000025445-99-000008.hdr.sgml : 19990701 ACCESSION NUMBER: 0000025445-99-000008 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981230 FILED AS OF DATE: 19990630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CRANE CO /DE/ CENTRAL INDEX KEY: 0000025445 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-LUMBER, PLYWOOD, MILLWORK & WOOD PANELS [5031] IRS NUMBER: 131952290 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-01657 FILM NUMBER: 99655898 BUSINESS ADDRESS: STREET 1: 100 FIRST STAMFORD PLACE CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 2033637300 MAIL ADDRESS: STREET 1: 100 FURST STAMFORD PLACE CITY: STAMFORD STATE: CT ZIP: 06902 11-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 11-K ANNUAL REPORT Pursuant to Section 15 (d) of the Securities and Exchange Act of 1934 For the period from December 31, 1997 to December 30, 1998 A. Full title of the plan and the address of the plan if different from that of the issuer named below: ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: CRANE CO. 100 First Stamford Place Stamford, Connecticut 06902 ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN TABLE OF CONTENTS Page INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS Statements of Net Assets Available for Benefits as of December 30, 1997 and December 30, 1998 2 Statements of Changes in Net Assets Available for Benefits for the Period From January 1, 1997 to December 30, 1997 and fiscal year ended December 30, 1998 3 Notes to Financial Statements 4
SUPPLEMENTAL SCHEDULES AS OF AND FOR THE YEAR ENDED DECEMBER 30, 1998 Item 27a - Schedule of Assets Held for Investment Purposes Item 27d - Schedule of Reportable Transactions INDEPENDENT AUDITORS' REPORT ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN: We have audited the accompanying statements of net assets available for benefits of ELDEC Corporation and Interpoint Corporation Deferred Income Plan (the Plan) as of December 30, 1998 and 1997, and the related statements of changes in net assets available for benefits for the year ended December 30, 1998 and for the period from January 1, 1997 to December 30, 1997. 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, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 30, 1998 and 1997, and the changes in net assets available for benefits for the year ended December 30, 1998 and for the period from January 1, 1997 to December 30, 1997, in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying schedules of (1) assets held for investment purposes as of December 30, 1998 and (2) reportable transactions for the year ended December 30, 1998 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. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in our audit of the basic 1998 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic 1998 financial statements taken as a whole. Deloitte & Touche LLP Seattle, Washington May 28, 1999 1 ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 30, 1997 AND DECEMBER 30, 1998 1998 1997 ASSETS CASH AND CASH EQUIVALENTS: $1,852 $37 INVESTMENTS, AT FAIR VALUE: Mutual funds 26,772,200 38,137,504 Common and collective funds 3,589,008 5,678,340 Crane Co. common stock 2,291,924 5,533,947 Participant notes receivable 843,358 1,421,482 Total investments 33,496,490 50,771,273 RECEIVABLES: Employer contribution receivable (Crane Co. Stock Fund) 41,094 45,614 Employee contributions 132,895 144,587 Total receivables 190,201 173,989 NET ASSETS AVAILABLE FOR BENEFITS $ 50,961,511 $33,672,331 See notes to financial statements.
2 ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE PERIOD FROM JANUARY 1, 1997 TO DECEMBER 30,1997 AND YEAR ENDED DECEMBER 30, 1998 - -------------------------------------------------------------- 1998 1997 CONTRIBUTIONS: Employee $3,925,106 $4,142,119 Employer (Crane Co. Stock Fund) 1,176,638 1,307,342 Rollovers 0 7,691,509 Total contributions 5,101,744 13,140,970 EARNINGS ON INVESTMENTS: Interest and dividends 388,350 499,231 Net appreciation in fair value of investments 6,110,165 7,578,474 Total earnings on investments 6,498,515 8,077,705 DISTRIBUTIONS TO PARTICIPANTS (1,904,958) (3,805,827) ADMINISTRATIVE EXPENSE AND OTHER (66,477) (123,668) (1,971,435) (3,929,495) NET INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS 9,628,824 17,289,180 NET ASSETS AVAILABLE FOR BENEFITS Beginning of period 24,043,507 33,672,331 NET ASSETS AVAILABLE FOR BENEFITS End of period $33,672,331 $50,961,511 See notes to financial statements.
3 ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN Notes to Financial Statements For the Period from January 1, 1997 - ----------------------------------------------------------------------- to December 30, 1997 and Year Ended December 30, 1998 1. DESCRIPTION OF THE PLAN The following description of the Eldec Corporation and Interpoint Corporation Deferred Income Plan (the Plan) provides only general information. Participants should refer to the Plan document for more complete information regarding the Plan's provisions. General: The Plan is a defined contribution plan covering substantially all employees of Eldec Corporation and Interpoint Corporation (collectively, the Corporation). The Corporation is a wholly-owned subsidiary of Crane Co. The Plan is subject to the terms of the Employee Retirement Income Security Act of 1974 (ERISA). During 1997 the Plan's year-end was changed to December 30 from December 31. Contributions: Until October 1, 1998, each year, participants could elect to contribute and defer between 1% and 15% of pretax annual compensation as defined by the Plan. Effective October 1, 1998, the percentage election increased to 17%. Such employee contributions may not exceed the maximum allowable contribution under IRC regulations. Participants may also contribute amounts representing distributions from other qualified defined benefit or contribution plans. The Corporation matches 50% of each participant's contribution, up to 6% of the participant's salary, made in the form of common stock of Crane Co. During the year ended December 30, 1998, the Interpoint Corporation Retirement & Savings Plan was terminated and all assets were transferred into the Plan. The total amount transferred of approximately $7,342,000 is included in Rollovers in the Statement of Changes in Net Assets Available for Benefits. Participant accounts: Each participant's account is credited with the participant's contributions and allocations of the Corporation's matching contribution and Plan earnings and charged with an allocation of management fees not paid by the Corporation. Vesting: A participant's deferred income contribution account and Corporation matching contributions are 100% vested and nonforfeitable at all times. Participant notes receivable: Actively employed participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance. Loan terms, subject to approval by the Administration Committee (the Committee), range from 1 to 5 years, or up to 15 years for the purchase of a primary residence. The interest rate on loans is 1% above the Wall Street prime lending rate on the first business day of the calendar quarter in which the loan is made. 4 Payment of benefits: Upon retirement, disability, termination of employment or death, a participant or designated beneficiary will receive a lump sum payment equal to the participant's account balance. If the participant's account balance is greater than $5,000, the participant may elect to defer the withdrawal until reaching the age of 70-1/2. Plan termination: Although it has not expressed any intent to do so, the Corporation has the right to terminate the Plan at any time subject to the provisions of ERISA. In the event the Plan is terminated, the Plan's assets will be liquidated by the Trustee and distributed to participants. Tax Status: The Internal Revenue Service has determined and informed the Corporation, by a letter dated May 5, 1994, that the Plan is designed in accordance with applicable sections of the Internal Revenue Code (IRC). The Plan has been amended and restated since receiving the determination letter and the Plan Administrator is currently in the process of filing for a new determination letter. The Plan Administrator believes the Plan, as amended and restated, is currently being operated in compliance with the applicable requirements of the IRC. Therefore, no provision for income taxes has been recorded. Investment Funds: Plan participants may direct investment of their accounts in any of several funds in such increments and at such times as designated by the Committee appointed by the Board of Directors. On October 5, 1998, new funds were made available to participants of the Plan. The investment options available for as of December 30, 1998 are as follows: Norwest Stable Value Fund This fund invests primarily in Guaranteed Investment Contracts ("GICs") but may also invest in U.S. Treasury obligations and money market instruments. A GIC is issued by a major life insurance company to retirement plans. GICs offer safety, stability and relatively high income. Although GICs do not experience market fluctuations, they do not have U.S. Government backing. It is the insurance company that guarantees the investment rate and return of principal at full value. The objective of this fund is to earn a predictable investment return that is somewhat higher than overall money market rates, with a minimum chance of loss of the original contributions. The risk and return characteristics of this fund are that it is low risk with low to moderate long-term growth potential. Interest on the invested money provides the investment return. AIM Balanced Fund Class A This fund is a mutual fund with a balanced portfolio which seeks to provide reasonable current income and long-term capital appreciation by investing 60% to 70% of its assets in common stocks with the remainder held in high-quality corporate bonds and U.S. Government securities. Stocks are selected on the basis of their current dividends and potential growth of capital and income. The fund may also invest up to 20% of its assets in foreign securities. The objective of this fund is to provide the possibility of long-term investment growth while reducing the risk of investment loss. The risk and return characteristics of this fund are that it is moderate risk with moderate long-term growth potential. Dividends, interest and changes in the values of the shares provide most of the investment return. Prudential Stock Index Fund Class Z This fund is a mutual fund which seeks to match the total return performance of the S&P 500 Stock Index by investing in all 500 stocks in approximately the same proportions as represented in the S&P 500 Stock Index. Dominated by large "blue chip" stocks, this unmanaged index covers about 70% of the total U.S. market capitalization. The very low turnover in the portfolio's holdings allows the fund to maintain substantially lower management fees. The objective of this fund is to provide the possibility of long-term investment growth while reducing the risk of investment loss. The risk and return characteristics of this fund are that it is moderate risk with moderate long-term growth potential. Dividends, interest and changes in the values of the shares provide most of the investment return. 7 Prudential Jennison Growth Fund Class Z This fund is a mutual fund, which seeks long-term growth of capital by investing primarily in established companies with market capitalizations of at least $1 billion and above average growth prospects. The fund invests substantially all, but at least 65% of its total assets, in common stocks, convertible securities and other equity securities. Companies must be currently demonstrating superior absolute and relative earnings growth and be attractively valued to be included in this fund's portfolio. The objective of this fund is to provide the higher rates of return that are associated with stocks, while limiting the risk associated with stocks by investing in large companies. The risk and return characteristics of this fund are that it is moderate to high risk with moderate to high long-term growth potential. Changes in the values of the shares provide most of the investment return, but the fund also receives dividends and interest. Mutual Qualified Fund A This fund is a mutual fund which invests primarily in medium-sized companies. Its goal is capital appreciation, which may occasionally be short-term. Income is a secondary objective. The fund invests in common and preferred stocks, and debt of any credit quality. It may also invest up to 50% of assets in companies involved in prospective mergers, consolidations, liquidations, reorganizations, or other special situations. The objective of the fund is to provide the possibility of short and long-term investment growth, while reducing the risk of investment loss by investing in securities that, in the opinion of the fund manager, are priced at discounts to their intrinsic values. The risk and return characteristics of this fund are that it is moderate to high risk with moderate to high long-term growth potential. Changes in values of the shares provide most of the investment return, but the fund may also receive dividends and interest. Prudential Small Company Value Fund Class Z This fund is a mutual fund, which invests primarily in small company stocks with market capitalizations of less than $500 million to provide long-term capital appreciation. The fund emphasizes equities that appear undervalued by various measures, such as price/earnings or price/book ratios. The value approach is intended to be conservative, but the fund's focus on small company stocks adds substantial risks. The objective of this fund is to provide the possibility of higher rates of return than by investing in small companies with greater growth potential. The risk and return characteristics of this fund are that it is moderate to very high risk with moderate to very high long-term growth potential. Changes in the values of the shares provide most of the investment return, but the fund also receives dividends. 8 Putnam International Growth Fund Class A This fund is a mutual fund which seeks capital appreciation by investing at least 65% of its assets in equity securities of companies located outside the United States. It may invest in companies of any size that it judges to be in a strong growth trend or that it believes is undervalued. The fund may invest in both developed and emerging markets. This fund is considered riskier because of its foreign stock emphasis. The objective of this fund is to provide higher rates of return and greater diversification by investing in stocks of international companies. The risk and return characteristics of this fund are that it is moderate to very high risk with moderate to very high long-term growth potential. Changes in the values of the shares provide most of the investment return, but the fund also receives dividends. Crane Co. Stock Fund Investments in common stock of Crane Co. The investment options available for the period January 1, 1997 to October 5, 1998 were as follows: U.S. Trust Capital Preservation Fund This fund invests primarily in Guaranteed Investment Contracts ("GICs") but may also invest in U.S. Treasury obligations and money market instruments. The objective of this fund is to earn a predictable investment return that is somewhat higher than overall money market rates, with a minimum chance of loss of the original contributions. Vanguard Wellington Fund This fund is a mutual fund with a balanced portfolio which seeks to provide reasonable current income and long-term capital appreciation by investing 60% to 70% of its assets in common stocks with the remainder held in high-quality corporate bonds and U.S. Government securities. Stocks are selected on the basis of their current dividends and potential growth of capital and income. The fund may also invest up to 10% of its assets in foreign securities. The objective of this fund is to provide the possibility of long-term investment growth while reducing the risk of investment loss. Vanguard Institutional Equity Index Fund This fund is a mutual fund which seeks to match the total return performance of the S&P 500 Stock Index by investing in all 500 stocks in approximately the same proportions as represented in the S&P 500 Stock Index. The objective of this fund is to provide the possibility of long-term investment growth while reducing the risk of investment loss. 9 Harbor Capital Appreciation Fund This fund is a mutual fund which seeks long-term growth of capital by investing primarily in established companies with market capitalizations of at least $1 billion and above average growth prospects. The fund invests substantially all, but at least 65% of its total assets, in common stocks, convertible securities and other equity securities. Companies must be currently demonstrating superior absolute and relative earnings growth and be attractively valued to be included in this fund's portfolio. The objective of this fund is to provide the higher rates of return that are associated with stocks, while limiting the risk associated with stocks by investing in large companies. T. Rowe Price Small Cap Value Fund This fund is a mutual fund which invests primarily in small company stocks with market capitalizations of less than $500 million to provide long-term capital appreciation. The fund emphasizes equities that appear undervalued by various measures, such as price/earnings or price/book ratios. The value approach is intended to be conservative, but the fund's focus on small company stocks adds substantial risks. The objective of this fund is to provide the possibility of higher rates of return than by investing in small companies with greater growth potential. American Funds Europacific Growth Fund This is a mutual fund which invests in a carefully chosen selection of more than 275 companies based outside the U.S. which offer above average growth potential. The fund usually invests approximately 65% of its assets in Pacific Basin stocks, including Japan, Australia, Canada, Malaysia and Singapore. The fund typically keeps a relatively high cash level to moderate foreign stock volatility and purchases equities with moderate price multiples. Exposure to emerging markets is below average. The objective of this fund is to provide higher rates of return and greater diversification by investing in stocks of international companies. 10 Below are the investments whose fair value individually represented 5 percent or more of the Plan's net assets as of December 30, 1997 and 1998: 1997 1998 U.S. Trust Company of the Pacific Northwest Capital Preservation $ $5,534,855 Fund 3,589,008 Norwest Stable Value Fund 143,485 Vanguard Wellington Fund 3,387,051 AIM Balanced Fund Class A 5,654,817 Vanguard Institutional Equity Index 4,445,618 Fund Prudential Stock Index Fund Class Z 7,730,360 Harbor Capital Appreciation Fund 11,260,625 Prudential Jennison Growth Fund Class 17,015,924 A Mutual Qualified Fund 22,220 T. Rowe Price Small Cap Value Fund 5,476,559 Prudential Small Company Value Fund 5,219,220 Class A American Funds Europacific Growth Fund 2,202,347 Putnam International Growth Fund 2,494,963 Class A Crane Co. Stock Fund 2,291,924 5,533,947
2. SUMMARY OF ACCOUNTING POLICIES The following is a summary of the significant accounting and reporting policies followed in preparation of the financial statements of the Plan. Basis of accounting: The financial statements of the Plan are prepared under the accrual method of accounting. Cash equivalents: All investments purchased with a maturity of three months or less have been classified as cash equivalents. Investment valuation: Investments are stated at fair value based on quoted market prices. Participant notes receivable are valued at cost which approximates fair value. Purchases and sales of securities are recorded on a trade-date basis with the cost basis of securities sold determined by specific identification. Dividend income, interest income and realized gains and losses from investments are recorded as earned on an accrual basis. The dividend income, interest income and realized gains and losses are allocated to participant accounts daily on a cash basis based upon each participant's proportionate share of assets in each fund. Unrealized gains and losses are allocated to participants daily based on the participant's proportionate share of assets in each fund. 5 Benefit payments: Benefits are recorded when paid. Benefits payable to participants included in net assets totaled $1,919 and $71,171 at December 30, 1998 and 1997, respectively. Such amounts are shown as Plan liabilities in the Form 5500. Use of 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 disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions to, and deductions from, net assets during the reporting period. Actual results could differ from those estimates. 6 3. PARTIES-IN-INTEREST The Plan has investments and transactions with parties-in-interest, those parties being Crane Co. and participants with loan balances. 11 4. ALLOCATION OF NET ASSETS AVAILABLE FOR BENEFITS Allocation by fund of net assets available for benefits at December 30, 1997 and 1998 follows: 1997 1998 U.S. Trust Company of the Pacific Northwest Capital Preservation Fund $ 3,606,164 $ 5,534,873 Norwest Stable Value Fund 158,734 Vanguard Wellington Fund 3,401,622 0 AIM Balanced Fund Class A 5,672,990 Vanguard Institutional Equity Index 4,467,765 Fund Prudential Stock Index Fund Class Z 7,758,127 Harbor Capital Appreciation Fund 11,301,711 Prudential Jennison Growth Fund 17,059,528 Class A Mutual Qualified Fund 23,574 T. Rowe Price Small Cap Value Fund 5,499,545 Prudential Small Company Value Fund 5,241,460 Class A American Funds Europacific Growth 2,213,000 Fund Putnam International Growth Fund 2,502,738 Class A Crane Co. Stock Fund 2,339,166 5,588,006 Loan Fund 843,358 1,421,481 $ $50,961,511 33,672,331
5. INFORMATION RELATED TO CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS The changes in net assets available for benefits by fund for the period from January 1, 1997 to December 30, 1997 and the year ended December 30, 1998 were as follows: Employee Contributions: 1997 1998 U.S. Trust Company of the Pacific Northwest Capital $ 518,574 $ 330,421 Preservation Fund Norwest Stable Value Fund 111,941 Vanguard Wellington Fund 483,917 360,699 AIM Balanced Fund Class A 133,619 Vanguard Institutional Equity 609,605 535,459 Index Fund Prudential Stock Index Fund 198,274 Class Z Harbor Capital Appreciation Fund 1,242,650 976,632 Prudential Jennison Growth Fund 322,742 Class A Mutual Qualified Fund 6,928 T. Rowe Price Small Cap Value 678,458 536,659 Fund Prudential Small Company Value 167,375 Fund Class A American Funds Europacific 185,232 Growth Fund Putnam International Growth Fund 55,390 Class A Crane Co. Stock Fund 77,515 220,748 $3,925,106 $ 4,142,119 12
Net investment income: 1997 1998 U.S. TrustCompany of the Pacific Northwest Capital Preservation Fund $ 215,722 $ 302,595 Norwest Stable Value Fund 1,235 Vanguard Wellington Fund 598,977 178,027 AIM Balanced Fund Class A 796,747 Vanguard Institutional Equity Index Fund 985,893 188,534 Prudential Stock Index Fund Class Z 1,530,620 Harbor Capital Appreciation 2,943,266 Fund 81,291 Prudential Jennison Growth Fund Class A 4,978,626 Mutual Qualified Fund 452 T. Rowe Price Small Cap 1,049,121 (1,121,682) Value Fund Prudential Small Company Value Fund Class A 522,980 American Funds Europacific 184,574 (131,352) Growth Fund Putnam International Growth Fund Class A 581,422 Crane Co. Stock Fund 447,165 51,956 Loan Fund 73,797 116,255 6,498,515 8,077,705 13 Distributions to Participants 1997 1998 U.S. Trust Company of the Pacific Northwest Capital Preservation Fund $ 226,569 $ 847,244 Vanguard Wellington Fund 251,064 372,290 Vanguard Institutional Equity Index Fund 138,901 323,907 Harbor Capital Appreciation 780,522 964,171 Fund American Funds Europacific Growth Fund 119,416 156,698 Crane Co. Stock Fund 79,647 450,165 Loan Fund 70,891 54,854 $1,904,958 $3,805,827
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee of the ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN has duly caused this annual report to be signed by the undersigned thereunto duly authorized. ADMINISTRATIVE COMMITTEE OF THE AMENDED AND RESTATED CRANE CO. SAVINGS AND INVESTMENT PLAN Arlan VanKoevering Arlan VanKeovering David Neils David Neils Linda Wood Linda Wood Lynnwood, WA June 15, 1999 14 ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 30, 1998 Identity of Issue Cost Current Value Collective Funds: U.S. Trust Company of the Pacific Northwest Capital $ 5,457,142 $5,534,855 Preservation Fund Norwest Stable Value Fund 142,549 143,485 Mutual Funds: AIM Balanced Fund A 4,913,922 5,654,817 Prudential Stock Index Fund Z 6,327,580 7,730,360 Prudential Jennison Growth Fund A 12,525,343 17,015,924 Mutual Qualified Income A 22,314 22,220 Prudential Small Company Value 5,227,028 5,219,220 Fund Putnam International Growth 1,984,393 2,494,963 Crane Co. Stock Fund* (187,133 4,347,981 5,533,947 shares) Participant notes receivable 1,421,482 1,421,482 $42,369,734 $ 50,771,273 *Represents a party-in-interest to the plan.
15 ELDEC CORPORATION AND INTERPOINT CORPORATION DEFERRED INCOME PLAN ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 30, 1998 Purchase Number Number Net Gain Identity of Issue Price of Sale of Cost or(Loss) Purchases Price Sales Series of Transactions USTPN Capital Preservation Fund 8,321,917 29 1,212,931 261,032,782 180,149 Crane Company 5,822,219 32 3,373,190 243,333,471 39,719 Stock Prudential Small Company Value 5,228,476 21 1,408 2 1,446 (38) Fund A Prudential Stock Index Fund Z 6,363,476 18 43,745 2 35,950 7,794 Prudential Jennison Growth 12,583,273 20 73,300 4 58,008 15,292 Fund A AIM Balanced Fund A 4,913,895 18 0 0 0 0 U/O/P in Federated Government Bonds 18,884,032 454 18,888,372 367 18,888,372 0 Euro Pacific Growth Fund 497,216 34 2,552,144 21 2,577,772(25,629) Harbor Capital Appreciation fund 3,464,917 38 14,503,020 31 11,149,923,353,097 Row T Price Small Cap Value Fund 1,262,749 35 5,616,444 26 5,621,346 (4,902) Vanguard/ Wellington Fund 1,632,319 43 5,098,473 19 4,620,095 478,378 Vanguard Institutional Index 1,667,253 40 6,241,985 26 4,897,3341,344,650 Fund Single transaction: USTPN Capital Preservation Fund 5,468,486 Crane Company Stock 3,968,126 Prudential Small Company Value Fund A 4,455,658 Prudential Stock Index Fund Z 6,037,837 Prudential Jennison Growth Fund A 11,742,254 AIM Balanced Fund A 4,727,984 U/O/P in Federated Government Bonds 5,629,471 U/O/P in Federated Government Bonds 5,526,308 5,526,308 0 Harbor Capital Appreciation fund 12,253,360 10,445,841,807,519 Row T Price Small Cap Value Fund 4,457,785 4,632,275(174,490) Vanguard/ Wellington Fund 4,747,267 4,314,799 432,468 Vanguard Institutional Index 5,967,156 4,710,0391,257,116 Fund Crane Company Stock 3,228,875 3,228,875 0 16
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