<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[ X ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the Fiscal Year Ended December 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
Commission File Number 1-800
Title of the Plan -
SPECIAL INVESTMENT AND SAVINGS PLAN
FOR WRIGLEY EMPLOYEES
Name and Address of the Issuer of the Securities
Held Pursuant to the Plan -
WM. WRIGLEY JR. COMPANY
(Delaware Corporation)
410 North Michigan Avenue
Chicago, Illinois 60611
<PAGE>
SIGNATURE
The Plan. Pursuant to the requirements of the Securities
Exchange Act of 1934, the Special Investment and Savings Plan
Committee, as Administrator of the Plan, has duly caused this
Annual Report to be signed by the undersigned thereunto duly
authorized.
WM. WRIGLEY JR. COMPANY
SPECIAL INVESTMENT AND SAVINGS
PLAN
By: /s/ JOHN F. BARD
John F. Bard
Special Investment and Savings
Plan Committee Member and
Senior Vice President,
Wm. Wrigley Jr. Company
Date: May 11, 1998
<PAGE>
Report of Independent Auditors
The Special Investment and Savings Plan Committee
Special Investment and Savings Plan
for Wrigley Employees
We have audited the accompanying statements of assets available
for benefits of the Special Investment and Savings Plan for Wrigley
Employees as of December 31, 1997 and 1996, and the related
statements of changes in assets available for benefits for each
of the three years in the period ended December 31, 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, the financial statements referred to above
present fairly, in all material respects, the assets available for
benefits of the Plan at December 31, 1997 and 1996, and the changes
in its assets available for benefits for each of the three years
in the period ended December 31, 1997, in conformity with
generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion
on the basic financial statements taken as a whole. The
accompanying supplemental schedules of assets held for investment
purposes as of December 31, 1997, and reportable transactions for
the year then ended, are presented for purposes of complying
with the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974 and are not a required part of the basic
financial statements. The Fund Information in the statements of
assets available for benefits and the statements of changes in
assets available for benefits is presented for purposes of
additional analysis rather than to present the assets available
for benefits and changes in assets available for benefits of
each fund. The supplemental schedules and Fund Information have
been subjected to the auditing procedures applied in our audits
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.
/s/ ERNST & YOUNG LLP
Ernst & Young LLP
April 9, 1998
<PAGE>
<TABLE>
EIN 36-1988190
Plan #004
Special Investment and Savings Plan
for Wrigley Employees
Statement of Assets Available for Benefits,
With Fund Information
December 31, 1997
<CAPTION>
Fund Information
Putnam
Putnam Putnam OTC & Putnam
Stable Growth & Putnam Putnam Emerging International Wrigley
Value Income Vista Income Growth Growth Stock
Total Fund Fund Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Assets
Investments, at fair value:
Shares of registered investment
companies:
Putnam Stable Value Fund $35,008,846 $35,008,846 $ - $ - $ - $ - $ - $ -
Putnam Growth & Income Fund 19,416,572 - 19,416,572 - - - - -
Putnam Vista Fund 11,873,626 - - 11,873,626 - - - -
Income 2,256,535 - - - 2,256,535 - - -
Emerging Growth 2,015,959 - - - - 2,015,959 - -
International Growth 2,597,486 - - - - - 2,597,486 -
Wrigley Stock Fund:
Wm. Wrigley Jr. Company Common Stock
(3,656,438 shares; cost -
$64,736,358) 290,915,327 - - - - - 290,915,327
Wm. Wrigley Jr. Company Class B
Common Stock
(727,768 shares; cost -
$1,739,119) 57,903,083 - - - - - - 57,903,083
Participants' loans 6,509,885 1,456,420 269,098 102,766 3,531 (3,662) 79,598 4,602,134
Invested cash 16,484 - - - - - - 16,484
Total investments 428,513,803 36,465,266 19,685,670 11,976,392 2,260,066 2,012,297 2,677,084 353,437,028
Receivables:
Employers' contributions 43,810 - - - - - - 43,810
Participants' contributions 149,762 33,174 17,043 11,070 1,312 4,474 4,445 78,244
Total receivables 193,572 33,174 17,043 11,070 1,312 4,474 4,445 122,054
Assets available for benefits $428,707,375 $36,498,440 $19,702,713 $11,987,462 $2,261,378 $2,016,771 $2,681,529 $353,559,082
Assets available for benefits:
Participants' contributions
including earnings $179,368,549 $36,498,440 $19,702,713 $11,987,462 $2,261,378 $2,016,771 $2,681,529 $104,220,256
Employer's contributions
including earnings 249,338,826 - - - - - - 249,338,826
Assets available for benefits $428,707,375 $36,498,440 $19,702,713 $11,987,462 $2,261,378 $2,016,771 $2,681,529 $353,559,082
See notes to financial statements.
</TABLE>
<PAGE>
<TABLE>
EIN 36-1988190
Plan #004
Special Investment and Savings Plan
for Wrigley Employees
Statement of Assets Available for Benefits,
With Fund Information
December 31, 1996
<CAPTION>
Fund Information
Putnam Putnam Putnam
Stable Growth & Putnam Global Wrigley
Value Income Vista Growth Stock
Total Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
Assets
Investments, at fair value:
Shares of registered investment companies:
Putnam Stable Value Fund $ 30,951,156 $30,951,156 $ - $ - $ - $ -
Putnam Growth & Income Fund 14,842,100 - 14,842,100 - - -
Putnam Vista Fund 10,041,617 - - 10,041,617 - -
Putnam Global Growth Fund 4,634,468 - - - 4,634,468 -
Wrigley Stock Fund:
Wm. Wrigley Jr. Company Common Stock
(3,983,880 shares; cost - $59,715,085) 224,052,281 - - - - 224,052,281
Wm. Wrigley Jr. Company Class B Common
Stock (814,159 shares; cost - $1,945,562) 45,796,448 - - - - 45,796,448
Participants' loans 6,165,036 1,388,755 256,533 94,354 88,670 4,336,724
Invested cash 2,320 - - - - 2,320
Total investments 336,485,426 32,339,911 15,098,633 10,135,971 4,723,138 274,187,773
Receivables:
Employers' contributions 8,196 - - - - 8,196
Participants' contributions 24,575 6,023 2,588 1,658 1,487 12,819
Total receivables 32,771 6,023 2,588 1,658 1,487 21,015
Assets available for benefits $336,518,197 $32,345,934 $15,101,221 $10,137,629 $4,724,625 $274,208,788
Assets available for benefits:
Participants' contributions
including earnings $141,760,615 $32,345,934 $15,101,221 $10,137,629 $4,724,625 $ 79,451,206
Employer's contributions
including earnings 194,757,582 - - - - 194,757,582
Assets available for benefits $336,518,197 $32,345,934 $15,101,221 $10,137,629 $4,724,625 $274,208,788
See notes to financial statements.
</TABLE>
<PAGE>
<TABLE>
EIN 36-1988190
Plan #004
Special Investment and Savings Plan
for Wrigley Employees
Statement of Changes in Assets Available for Benefits,
With Fund Information
Year ended December 31, 1997
<CAPTION>
Fund Information
Putnam
Putnam Putnam Putnam OTC & Putnam
Stable Growth & Putnam Global Putnam Emerging International Wrigley
Value Income Vista Growth Income Growth Growth Stock
Total Fund Fund Fund Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Additions
Investment income:
Dividends:
Putnam mutual funds $ 5,748,037 $ 2,067,064 $ 2,605,024 $ 849,153 $ - $ 70,202 $ - $156,594 $ -
Wm. Wrigley Jr.
Company Common Stock 4,352,631 - - - - - - - 4,352,631
Wm. Wrigley Jr. Company
Class B Common Stock 908,584 - - - - - - - 908,584
11,009,252 2,067,064 2,605,024 849,153 - 70,202 - 156,594 5,261,215
Interest:
Invested cash 6,538 (139) - - - - - - 6,677
Participants' loans 401,300 48,480 21,147 12,864 4,962 636 2,247 7,443 303,521
407,838 48,341 21,147 12,864 4,962 636 2,247 7,443 310,198
Total investment
income 11,417,090 2,115,405 2,626,171 862,017 4,962 70,838 2,247 164,037 5,571,413
Net realized and
unrealized appreciation
in fair value of
investments 108,440,233 - 1,153,037 1,477,182 351,082 22,647 273,176 76,651 105,086,458
Contributions:
Participants 9,070,559 1,738,650 1,234,580 828,934 183,802 77,809 230,747 287,433 4,488,604
Employer 3,226,290 - - - - - - - 3,226,290
Total contributions 12,296,849 1,738,650 1,234,580 828,934 183,802 77,809 230,747 287,433 7,714,894
Deductions
Distributions to
participants (39,919,653) (13,913,509) (4,337,651) (2,145,230) (367,215) (28,872) (18,825) (337,440) (18,770,911)
Forfeitures, allocable
to future employer
contributions (45,341) - - - - - - - (45,341)
Transfers of investment
direction, net - 14,211,960 3,925,355 826,930 (4,897,256) 2,118,956 1,529,426 2,490,848 (20,206,219)
Increase (decrease)
in net assets available
for benefits 92,189,178 4,152,506 4,601,492 1,849,833 (4,724,625) 2,261,378 2,016,771 2,681,529 79,350,294
Net assets available
for benefits at
beginning of year 336,518,197 32,345,934 15,101,221 10,137,629 4,724,625 - - - 274,208,788
Net assets available
for benefits at
end of year $428,707,375 $36,498,440 $19,702,713 $11,987,462 $ - $2,261,378 $2,016,771 $2,681,529 $353,559,082
See notes to financial
statements.
</TABLE>
<PAGE>
<TABLE>
EIN 36-1988190
Plan #004
Special Investment and Savings Plan
for Wrigley Employees
Statement of Changes in Assets Available for Benefits,
With Fund Information
Year ended December 31, 1996
<CAPTION>
Fund Information
Putnam Putnam Putnam
Stable Growth & Putnam Global Wrigley
Value Income Vista Growth Stock
Total Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
Additions
Investment income:
Dividends:
Putnam mutual funds $ 4,071,384 $ 1,901,732 $ 1,249,310 $ 596,318 $ 324,026 $ -
Wm. Wrigley Jr. Company Common Stock 4,092,482 - - - - 4,092,482
Wm. Wrigley Jr. Company Class B
Common Stock 855,025 - - - - 855,025
9,018,891 1,901,732 1,249,310 596,318 324,026 4,947,507
Interest:
Invested cash 12,116 2,804 - - - 9,312
Participants' loans 364,694 42,286 15,991 10,370 11,642 284,405
376,810 45,090 15,991 10,370 11,642 293,717
Total investment income 9,395,701 1,946,822 1,265,301 606,688 335,668 5,241,224
Net realized and unrealized
appreciation in fair value
of investments 21,697,969 - 1,272,237 1,048,018 294,605 19,083,107
Contributions:
Participants 9,018,517 2,028,171 981,474 689,991 566,218 4,752,663
Employer 3,265,805 - - - - 3,265,805
Total contributions 12,284,322 2,028,171 981,474 689,991 566,218 8,018,468
Deductions
Distributions to participants (27,448,556)(11,092,573) (1,232,382) (545,994) (398,368) (14,179,239)
Forfeitures, allocable to future
employer contributions (38,473) - - - - (38,473)
Transfers of investment direction, net - 7,030,822 2,482,202 1,081,613 359,926 (10,954,563)
Increase (decrease) in net
assets available for benefits 15,890,963 (86,758) 4,768,832 2,880,316 1,158,049 7,170,524
Net assets available for
benefits at beginning of year 320,627,234 32,432,692 10,332,389 7,257,313 3,566,576 267,038,264
Net assets available for
benefits at end of year $336,518,197 $32,345,934 $15,101,221 $10,137,629 $4,724,625 $274,208,788
See notes to financial statements.
</TABLE>
<PAGE>
<TABLE> EIN 36-1988190
Plan #004
Special Investment and Savings Plan
for Wrigley Employees
Statement of Changes in Assets Available for Benefits,
With Fund Information
Year ended December 31, 1995
<CAPTION>
Fund Information
Putnam Putnam Putnam
Stable Growth & Putnam Global Wrigley
Value Income Vista Growth Stock
Total Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
Additions
Investment income:
Dividends:
Putnam mutual funds $ 3,131,822 $ 1,724,192 $ 624,622 $ 593,832 $ 189,176 $ -
Wm. Wrigley Jr. Company Common Stock 4,035,926 - - - - 4,035,926
Wm. Wrigley Jr. Company Class B
Common Stock 883,882 - - - - 883,882
8,051,630 1,724,192 624,622 593,832 189,176 4,919,808
Interest:
Invested cash 16,825 328 - - - 16,497
Participants' loans 309,655 34,376 13,595 8,191 9,979 243,514
326,480 34,704 13,595 8,191 9,979 260,011
Total investment income 8,378,110 1,758,896 638,217 602,023 199,155 5,179,819
Net realized and unrealized
appreciation in fair value
of investments 17,560,277 - 1,741,391 937,188 246,166 14,635,532
Contributions:
Participants 9,179,306 2,230,451 912,262 592,868 546,611 4,897,114
Employer 3,288,564 - - - - 3,288,564
Total contributions 12,467,870 2,230,451 912,262 592,868 546,611 8,185,678
Deductions
Distributions to participants (24,449,708) (5,317,673) (496,261) (233,203) (546,532) (17,856,039)
Forfeitures, allocable to future
employer contributions (13,039) - - - - (13,039)
Transfers of investment direction, net - 6,932,077 1,305,058 1,830,885 288,461 (10,356,481)
Increase (decrease) in net assets
available for benefits 13,943,510 5,603,751 4,100,667 3,729,761 733,861 (224,530)
Net assets available for benefits
at beginning of year 306,683,723 26,828,941 6,231,720 3,527,553 2,832,715 267,262,794
Net assets available for benefits
at end of year $320,627,233 $32,432,692 $10,332,387 $7,257,314 $3,566,576 $267,038,264
See notes to financial statements.
</TABLE>
<PAGE>
EIN 36-1988190
Plan #004
Special Investment and Savings Plan
for Wrigley Employees
Notes to Financial Statements
Years ended December 31, 1997, 1996, and 1995
1. Description of the Plan
The following is a brief description of the Special
Investment and Savings Plan for Wrigley Employees (the Plan)
in effect at December 31, 1997, and is provided for general
information purposes only. Participants should refer to the
plan document for a more complete description of the Plan's
provisions.
Participation and Contributions
The Plan was established, effective January 1, 1975, for the
employees of Wm. Wrigley Jr. Company and such United States
subsidiaries and affiliates of Wm. Wrigley Jr. Company that
adopt the Plan (collectively referred to as the Company or
Employer). The Plan is subject to the provisions of the
Employee Retirement Income Security Act of 1974 (ERISA).
Employees are generally eligible to participate in the Plan
after one year of service. Effective January 1, 1998,
employees are eligible the first of the month following or
coincident with their hire date. After-tax and/or 401(k)
accounts and Company matching accounts are maintained for
each participant. A participant's account balances are
valued daily for participant and Employer contributions,
investment income, and net appreciation (depreciation) in
fair value of investments.
The Plan allows eligible employees to make contributions,
usually in the form of payroll deductions, generally up to
15% of base salary, subject to an annual limit as required
by the Internal Revenue Service. Subject to certain
limitations, the Employer is required to make matching
contributions at 60% of most participants' contributions up
to 6% of base salary. All Employer contributions are
invested in the Wrigley Stock Fund.
<PAGE>
1. Description of the Plan (continued)
Participant and Employer contributions for the three years
in the period ended December 31, 1997, were as follows:
<TABLE>
<CAPTION>
1997 1996 1995
Employer Participants Employer Participants Employer Participants
<S> <C> <C> <C> <C> <C> <C>
Wm. Wrigley Jr.Company $2,682,052 $7,538,310 $2,730,234 $7,618,757 $2,729,004 $7,715,307
L. A. Dreyfus Company 233,272 832,094 236,291 625,653 239,145 629,980
Amurol Products Company 281,446 625,797 273,611 703,678 294,246 766,525
Northwestern Flavors, Inc. 29,520 74,358 25,669 70,429 26,169 67,494
$3,226,290 $9,070,559 $3,265,805 $9,018,517 $3,288,564 $9,179,306
</TABLE>
The Putnam Fiduciary Trust Company, as Trustee under the
Special Investment and Savings Plan Trust for Wrigley
Employees (Trust), dated January 12, 1977, and amended and
restated as of January 1, 1994, directs the purchases and
sales of investments for all funds, within the limits
prescribed in the Plan. Contributions and earnings awaiting
investment under the specified investment programs are
temporarily placed in the Trust's collective short-term
investment fund at Putnam Fiduciary Trust Company.
Loans
The Plan contains provisions that allow loans to
participants, subject to certain restrictions. The maximum
aggregate amount that will be loaned to any participant will
generally be the lesser of $50,000 or 50% of the vested
portion of the participant's accounts as of the last
preceding valuation date. These loans, which have a maximum
term of five years (ten years if used to acquire a
participant's principal residence), are to be repaid through
payroll deductions. Loans shall bear a reasonable rate of
interest, established annually by the Committee, generally
equal to, for any Plan year, the prime interest rate minus
1%.
Investment Options and Transfers
Upon enrollment in the Plan, a participant may direct
employee contributions in 5% increments in any of five
investment options.
Putnam Stable Value Fund - Funds are invested in shares
of a registered investment company that seeks low-risk
fixed income investments in annuity contracts,
certificates of deposit, and U.S. Treasury and
government agency obligations.
<PAGE>
1. Description of the Plan (continued)
Putnam Growth and Income Fund - Funds are invested in
shares of a registered investment company that seeks
capital growth and current income through investments
in common stocks, corporate bonds, and U.S. government
securities.
Putnam Vista Fund - Funds are invested in shares of a
registered investment company that seeks capital
appreciation through investments in growth and value
common stocks.
Putnam Global Growth Fund - Funds are invested in
shares of a registered investment company that seeks
capital appreciation through investments in a globally
diversified portfolio of common stocks. Effective June
30, 1997, the Global Growth Fund was no longer a Fund
option. All assets were transferred to other funds.
Putnam Income Fund - Funds are invested in shares of a
registered investment company that seeks high current
income through investments in debt securities,
preferred stocks, and dividend-paying common stocks.
Putnam OTC & Emerging Growth Fund - Funds are invested
in shares of a registered investment company that seeks
capital appreciation through investments primarily in
common stocks of "emerging growth" companies.
Putnam International Growth Fund - Funds are invested
in shares of a registered investment company that seeks
capital appreciation through investments in equity
securities of companies primarily located in a country
other than the United States.
Wrigley Stock Fund - Funds are invested in Wm. Wrigley
Jr. Company common stock.
Participants may change their investment direction on any
day, in 1% increments. In addition, participants may elect
to transfer their account balance in any investment fund or
funds on any day, in 1% increments to any other investment
fund or funds. After reaching age 54, participants may make
a one-time election to diversify their Company contribution
account into any other investment fund or funds. Changes in
investment direction or transfers can be made by calling
Putnam directly or by written authorization.
<PAGE>
1. Description of the Plan (continued)
Vesting
A participant's portion of the Employer matching
contributions, including investment income and realized and
unrealized gains and losses on investments, is fully vested
after four years of participation in the Plan (at the rate
of 25% for each year). A participant also becomes fully
vested after one of the following events; death or
termination of employment if the participant: (i) retires
after reaching age 55; (ii) is permanently disabled; or
(iii) enters the Armed Forces of the United States.
Participants are always fully vested in their tax-deferred
and regular deposit accounts.
Effective January 1, 1998, due to change in eligibility,
participants become fully vested after five years of
service.
Withdrawals
Active participants may make a withdrawal from the Plan once
during a calendar quarter on any day. Participants may
withdraw the amount in their regular deposit account and,
under certain circumstances, the vested portion of their
Employer matching contribution account and tax-deferred
account. Once a participant makes a withdrawal,
contributions will not be matched for a three-month period.
Distributions to Participants
Active participation in the Plan terminates upon death,
retirement, or other termination of employment with the
Company. Participants may generally receive distributions
of their vested interest in the Plan in a lump-sum
distribution, an annuity, or a combination thereof.
Charges and Deductions
When a distribution of a participant's interest in the Plan
results in forfeiture of the nonvested portion of the
participant's account, the amount so forfeited reduces the
amount of the Employer's matching contribution required to
be made on behalf of other participants on subsequent
employer deposits.
It is the intent of the Company to continue to pay the
administrative expenses of the Plan, but if the Company
fails to make the payments or so directs the Trustee, there
may be a charge against the Trust for these expenses.
<PAGE>
1. Description of the Plan (continued)
Plan Termination
Although the Company has not expressed any intent to
terminate the Plan, it is free to do so at any time subject
to the provisions of the Internal Revenue Code (IRC) and
ERISA. In the event the Plan is terminated, participants
will automatically become fully vested and the net assets of
the Plan would be allocated among the participants in an
amount equal to the balances in their individual accounts at
the date of termination.
2. Significant Accounting Policies
Investment Valuation
The Plan's investments are stated at fair value. The shares
of registered investment companies are valued at quoted
market prices which represent the net asset value of shares
held by the Plan at year-end. The Wm. Wrigley Jr. Company
Common Stock is valued at its quoted market price on the New
York Stock Exchange. There is no established public trading
market for the Wm. Wrigley Jr. Company Class B Common Stock.
However, because the Class B Common Stock is at all times
convertible into Common Stock on a share-for-share basis,
the market value of such shares is considered to be
equivalent to that of the Company's Common Stock.
Participant notes receivable are valued at cost which
approximates fair value.
Contributions
Contributions from participants are recognized when
withheld by the Company through payroll deductions.
Matching contributions from the Employer are recognized
concurrently with the recognition of participants'
contributions.
Security Transactions
Purchases and sales of securities are accounted for on the
trade date. Gains and losses on sales or withdrawals of
securities are based on the average cost of the securities.
<PAGE>
2. Significant Accounting Policies (continued)
Income Recognition
Dividend income is recorded on the ex-dividend date.
Income from other investments is recorded as earned on the
accrual basis.
Use of Estimates
The preparation of financial statements requires management
to make estimates and assumptions that affect the amounts
reported in financial statements and accompanying notes.
Actual results could differ from those estimates.
<PAGE>
3. Investments
The components of net realized and unrealized appreciation
(depreciation) in fair value of investments (including
investments bought, sold, and held) for the three years in the
period ended December 31, 1997, are as follows:
<TABLE>
<CAPTION>
Putnam Putnam Putnam Putnam Putnam
Stable Growth & Putnam Global Wrigley Putnam OTC International
Value Income Vista Growth Stock Income Emerging Growth
Fund Fund Fund Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1997:
Proceeds from sale of investments
or withdrawals of stock $ - $7,633,338 $6,027,043 $5,245,323 $ 45,486,845 $428,355 $842,492 $1,039,670
Cost of securities - 6,591,197 5,090,002 4,566,699 15,663,781 427,588 799,676 966,172
Realized gain - 1,042,141 937,041 678,624 29,823,064 767 42,816 73,498
Change in unrealized appreciation
on investments - 110,896 540,141 (327,542) 75,263,394 21,880 230,360 3,153
Net realized and unrealized
appreciation in fair value $ - $1,153,037 $1,477,182 $ 351,082 $105,086,458 $ 22,647 $273,176 $ 76,651
1996:
Proceeds from sale of investments
or withdrawals of stock $ - $2,038,782 $1,445,252 $ 687,998 $ 30,374,952
Cost of securities - 1,800,742 1,264,007 653,624 11,386,582
Realized gain - 238,040 181,245 34,374 18,988,370
Change in unrealized
appreciation on investments - 1,034,197 866,773 260,231 94,737
Net realized and unrealized
appreciation in fair value $ - $1,272,237 $1,048,018 $ 294,605 $ 19,083,107
</TABLE>
<PAGE>
<TABLE>
3. Investments (continued)
<CAPTION>
Putnam Putnam Putnam
Stable Growth & Putnam Global Wrigley
Value Income Vista Growth Stock
Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C>
1995:
Proceeds from sale of investments
or withdrawals of stock $ - $1,772,554 $408,538 $916,540 $31,742,550
Cost of securities - 1,659,646 370,732 909,754 11,367,080
Realized gain - 112,908 37,806 6,786 20,375,470
Change in unrealized
appreciation (depreciation)
on investments - 1,628,483 899,382 239,380 (5,739,938)
Net realized and unrealized
appreciation in fair value $ - $1,741,391 $937,188 $246,166 $14,635,532
</TABLE>
The per share market value of Wm. Wrigley Jr. Company Common
Stock at December31, 1997 and 1996, is as follows:
1997 1996
Wm. Wrigley Jr. Company Common Stock $79.562 $56.250
4. Reconciliation of Financial Statements to Form 5500
The following is a reconciliation of net assets available for
benefits per the financial statements to the Form 5500:
<TABLE>
<CAPTION>
December 31
1997 1996
<S> <C> <C>
Assets available for benefits per the financial
statements $428,707,375 $336,518,197
Amounts allocated to withdrawing participants (26,508,659) (19,605,411)
Assets available for benefits per the Form 5500 $402,198,716 $316,912,786
</TABLE>
<PAGE>
4. Reconciliation of Financial Statements to Form 5500
(continued)
Amounts allocated to withdrawing participants by fund option
are as follows:
<TABLE>
<CAPTION>
December 31
1997 1996
<S> <C> <C>
Putnam Stable Value Fund $ 4,076,028 $ 2,890,144
Putnam Growth & Income Fund 2,175,120 1,612,846
Putnam Vista Fund 437,132 1,494,268
Putnam Global Growth Fund - 276,503
Putnam Income Fund 352,574 -
Putnam OTC & Emerging Growth Fund 101,008 -
Putnam International Growth Fund 180,827 -
Wm. Wrigley Jr. Company Common Stock 19,185,970 13,331,650
$26,508,659 $19,605,411
</TABLE>
The following is a reconciliation of benefits paid to
participants per the financial statements to the Form 5500:
<TABLE>
<CAPTION>
Years ended December 31
1997 1996
<S> <C> <C>
Benefits paid to participants per the
financial statements $39,919,653 $27,448,556
Add: Amounts allocated to withdrawing participants
at December 31, 1997 26,508,659 19,605,411
Less: Amounts allocated to withdrawing
participants at December 31, 1996 (19,605,411) (14,270,024)
Benefits paid to participants per the
Form 5500 $46,822,901 $32,783,943
</TABLE>
5. Federal Income Tax Status
The Internal Revenue Service ruled July 18, 1995, that the Plan
qualified under section 401(a) of the (IRC) and, therefore, the
related trust is not subject to tax under present income tax
law. Once qualified, the Plan is required to operate in
conformity with the IRC to maintain its qualification. The
Special Investment and Savings Plan Committee is not aware of
any course of action or series of events that have occurred
that might adversely affect the Plan's qualified status.
<PAGE>
5. Federal Income Tax Status (continued)
Employer contributions under the Plan and earnings of the Trust
are not taxable to the participant until the year in which such
amounts are distributed. Generally, whenever a participant
receives any amount other than an amount attributable to his
regular deposit account contributions, such amount is taxable
as ordinary income in the year of distribution. When a
participant receives a lump-sum distribution, certain
beneficial rules may apply to reduce or eliminate the tax on
such distribution. These benefits include special averaging
techniques and rollovers to another qualified employee
retirement plan or to an individual retirement account or
annuity.
The unrealized appreciation on Wm. Wrigley Jr. Company Common
Stock distributed in a lump-sum distribution or attributable to
a participant's regular deposit account contributions in any
other distribution will not be subject to federal income tax at
the time of distribution but will, to the extent realized, be
taxable upon disposition of such shares.
6. Impact of Year 2000 (Unaudited)
Similar to many other plans supported by computer technology,
the Year 2000 presents many challenges. The Year 2000 project,
to ensure that all of the computer systems will function
properly at the turn of the century and beyond, began sometime
ago. Good progress has been made, and this hurdle is expected
to be overcome by the first part of 1999.
<PAGE>
Consent of Independent Auditors
We consent to the incorporation by reference in the
Registration Statement (Form S-8, File No. 33-15061)
pertaining to the Special Investment and Savings Plan for
Wrigley Employees of Wm. Wrigley Jr. Company of our report
dated April 9, 1998, with respect to the financial
statements of the Special Investment and Savings Plan for
Wrigley Employees included in this Annual Report (Form 11-K)
for the year ended December 31, 1997.
/s/ ERNST & YOUNG LLP
Ernst & Young
May 7, 1998
