SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
THE VALSPAR CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
582803102
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(CUSIP Number)
December 31, 1998
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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 disclosures provided in a prior cover page.
The information required on 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).
(Continued on following page(s))
Page 1 of 3 Pages
<PAGE>
- --------------------
CUSIP No. 920355104
- --------------------
======== ======================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Resource Trust Company - 41-1250535
========= ======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [ ]
(b) |X|
========= ======================================================================
3 SEC USE ONLY
========= ======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Minnesota
======================= ====== =================================================
5 SOLE VOTING POWER
NUMBER OF 182,711
SHARES ====== =================================================
6 SHARED VOTING POWER
BENEFICIALLY 3,262,349
OWNED BY ====== =================================================
7 SOLE DISPOSITIVE POWER
EACH -0-
REPORTING ====== =================================================
8 SHARED DISPOSITIVE POWER
PERSON 3,445,060
WITH
========= ======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,445,060
========= ======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (SEE INSTRUCTIONS) [ ]
Not Applicable
========= ======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.93%*
========= ======================================================================
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
BK
================================================================================
* Based upon an aggregate of 43,428,113 shares outstanding at December 31,
1998.
Page 2 of 3 Pages
<PAGE>
This Amendment No. 1 to the undersigned's Schedule 13G, which was
originally filed on February 17, 1998 (the "Schedule 13G") with regard to The
Valspar Corporation (the "Issuer") is being filed to amend Item 4 of the
Schedule 13G. Except as expressly stated herein, there have been no material
changes in the information set forth in the Schedule 13G.
Item 4. Ownership:
(a) Amount Beneficially Owned: 3,445,060
(b) Percent of Class: 7.93%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 182,711
(ii) shared power to vote or to direct the vote: 3,262,349
(iii) sole power to dispose or to direct the disposition
of: -0-
(iv) shared power to dispose or to direct the disposition
of: 3,445,060
Item 10. Certification.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.
Date: February 9 1999
RESOURCE TRUST COMPANY
/s/ John A. Clymer
John A. Clymer
