UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Keyser, Richard L.
W. W. Grainger, Inc.
455 Knightsbridge Parkway
Lincolnshire, IL 60069-3620
U.S.A.
2. Issuer Name and Ticker or Trading Symbol
Morton International, Inc. (MII)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
06/30/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
|10/23/|A |500 |A | |2,500 |D | |
Common Stock |97 | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Phantom Stock |1-for-1 |6/30/|A |231.4050 |A |(1) |(1) |Common Stock|231.405|$30.25 |231.4050 |D | |
Units | |97 | | | | | | |0 | | | | |
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" |1-for-1 |8/28/|A |89.4686 |A |(1) |(1) |" |89.4686|$33.531|89.4686 |D | |
" | |97 | | | | | | " | |3 | | | |
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" |1-for-1 |9/8/9|A |15.7976 |A |(1) |(1) |" |15.7976|$32.218|15.7976 |D | |
" | |7 | | | | | | " | |8 | | | |
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" |1-for-1 |9/30/|A |197.5309 |A |(1) |(1) |" |197.530|$35.437|197.5309 |D | |
" | |97 | | | | | | " |9 |5 | | | |
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" |1-for-1 |10/23|A |43.2043 |A |(1) |(1) |" |43.2043|$34.718|43.2043 |D | |
" | |/97 | | | | | | " | |8 | | | |
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" |1-for-1 |12/8/|A |15.7738 |A |(1) |(1) |" |15.7738|$34.218|15.7738 |D | |
" | |97 | | | | | | " | |8 | | | |
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" |1-for-1 |12/31|A |202.1661 |A |(1) |(1) |" |202.166|$34.625|202.1661 |D | |
" | |/97 | | | | | | " |1 | | | | |
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" |1-for-1 |1/22/|A |66.8523 |A |(1) |(1) |" |66.8523|$33.656|66.8523 |D | |
" | |98 | | | | | | " | |3 | | | |
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" |1-for-1 |3/9/9|A |17.6767 |A |(1) |(1) |" |17.6767|$32.468|17.6767 |D | |
" | |8 | | | | | | " | |8 | | | |
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" |1-for-1 |3/13/|A |48.9796 |A |(1) |(1) |" |48.9796|$30625 |48.9796 |D | |
" | |98 | | | | | | " | | | | | |
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Phantom Stock |1-for-1 |3/26/|A |69.4980 |A |(1) |(1) |Common Stock|69.4980|$32.375|69.4980 |D | |
Units | |98 | | | | | | | | | | | |
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" |1-for-1 |3/31/|A |213.7405 |A |(1) |(1) |" |213.740|$32.75 |213.7405 |D | |
" | |98 | | | | | | " |5 | | | | |
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" |1-for-1 |4/23/|A |46.875 |A |(1) |(1) |" |46.875 |$32.00 |46.875 |D | |
" | |98 | | | | | | " | | | | | |
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" |1-for-1 |6/8/9|A |20.7183 |A |(1) |(1) |" |20.7183|$30.00 |20.7183 |D | |
" | |8 | | | | | | " | | | | | |
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" |1-for-1 |6/25/|A |87.0615 |A |(1) |(1) |" |87.0615|$25.843|87.0615 |D | |
" | |98 | | | | | | " | |8 | | | |
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</TABLE>
Explanation of Responses:
(1) The phantom stock units were accrued under the Morton International,
Inc. Directors Deferred
Compensation Plan and are to settle upon
retirement.
SIGNATURE OF REPORTING PERSON
/s/ Richard L. Keyser
DATE
August 13, 1998
