<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1
ANNUAL REPORT PURSUANT TO SECTION 13 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended Commission File
December 3, 1995 No. 1-8044
HUNT MANUFACTURING CO.
(Registrant)
Pennsylvania 21-0481254
- ---------------------------- ---------------------------------
(State of incorporation) (IRS Employer Identification No.)
One Commerce Square
2005 Market Street
Philadelphia, PA 19103-7085
- ---------------------------------------- ---------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (215)656-0300
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange
Title of each class: on which registered:
-------------------- ------------------------
Common Shares, par value $.10 per share New York Stock Exchange
Rights to Purchase Series A Junior New York Stock Exchange
Participating Preferred Stock
Securities registered pursuant to Section 12(g) of the Act: None
The registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months and (2) has been subject to such filing requirements for the past 90
days. Yes X No
------- ---------
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. X
--------
The aggregate market value of the registrant's Common Shares (its only
voting stock) held by non-affiliates of the registrant as of February 2, 1996
was approximately $167,000,000. (Reference is made to p.13 herein for a
statement of the assumptions upon which this calculation is based.)
The number of shares of the registrant's Common Shares outstanding as
of February 2, 1996 was 10,964,644.
DOCUMENTS INCORPORATED BY REFERENCE
Certain portions of the registrant's 1996 definitive proxy statement
relating to its April 1995 Annual Meeting of Shareholders (which proxy statement
was filed with the Commission within 120 days after the end of the registrant's
last fiscal year) are incorporated by reference into Part III of this report.
<PAGE>
AMENDMENT TO 1994 FORM 10-K
Pursuant to General Instruction F to Form 10-K and Rule 15d-21
under the Securities Exchange Act of 1934, Hunt Manufacturing Co.'s Annual
Report on Form 10-K for the fiscal year ended December 3, 1995 is hereby amended
to include the attached financial statements described in amended Item
14(a)(1)(B) below required by Form 11-K with respect to the Hunt Manufacturing
Co. Savings Plan for the Plan's fiscal year ended December 31, 1995. The Savings
Plan is subject to the Employee Retirement Income Security Act of 1974. Item 14
as amended provides in its entirety as follows:
Item 14. Exhibits, Financial Statement Schedules, and
Reports on Form 8-K
(a) Documents Filed as a part of the Report
1. Financial Statements:
A. The Company and subsidiaries: Pages
Report of Independent Accountants F-1
Consolidated Statements of
Income for the fiscal years
1995, 1994 and 1993 F-2
Consolidated Balance Sheets,
December 3, 1995 and
November 27, 1994 F-3
Consolidated Statements of
Stockholders' Equity
for the fiscal years 1995, 1994
and 1993 F-4
Consolidated Statements of
Cash Flows for the fiscal years
1995, 1994 and 1993 F-5
Notes to Consolidated Financial F-6-27
Statements
B. The Savings Plan:
Report of Independent Accountants PF-1
-2-
<PAGE>
Pages
Statements of Net Assets Available
for Benefits, with Fund Information
as of December 31, 1995 and 1994 PF-2-3
Statements of Changes in Net Assets
Available for Benefits, with Fund
Information for the years ended
December 31, 1995, 1994 and 1993 PF-4-6
Notes to Financial Statements PF-7-16
2. Financial Statement Schedules:
II. Valuation and Qualifying
Accounts for the fiscal years
1995, 1994 and 1993 F-28
All other schedules not listed above have
been omitted, since they are not applicable
or are not required, or because the required
information is included in the consolidated
financial statements or notes thereto.
Individual financial statements of the
Company have been omitted, since the Company
is primarily an operating company and any
subsidiary companies included in the
consolidated financial statements are
directly or indirectly wholly-owned and are
not indebted to any person, other than the
parent or the consolidated subsidiaries, in
an amount which is material in relation to
total consolidated assets at the date of the
latest balance sheet filed, except
indebtedness incurred in the ordinary course
of business which is not overdue and which
matures in one year.
3. Exhibits:
(3) Articles of incorporation and
bylaws:
(a) Restated Articles of
Incorporation, as amended
(composite) (incorp. by ref. to
Ex. 4(a) to Reg. Stmt. No.
33-57105 on Form S-8) (reference
also is made to Exhibit 4(b) below
for the Designation of Powers,
Preferences, Rights and
Qualifications of Preferred
Stock).
-3-
<PAGE>
(b) By-laws, as amended (incorp. by
ref. to Ex. 3(b) to Form 10-Q for
quarter ended May 28, 1995.
(4) Instruments, defining rights of
security holders, including
indentures:*
(a) Credit Agreement dated December
19, 1995, between the Company and
NationsBank, N.A. (incorp. by ref.
to Ex. 9(b) to the Company's
Schedule 13E-4 filed with the SEC
on December 21, 1995 (the "1995
Schedule 13E-4"); (2) Amendment
dated as of February 1, 1996 to
Credit Agreement (filed herewith);
and (3) Amendment dated as of
February 26, 1996 to Credit
Agreement (incorp. by ref. Ex.
4(a) to fiscal 1995 Form 10-K).
(b) Rights Agreement dated as of
August 8, 1990 (including as
Exhibit A thereto the Designation
of Powers, Preferences, Rights and
Qualifications of Preferred Stock)
between the Company and Mellon
Bank (East), N.A. as original
Rights Agent.
(incorp. by ref. to Exhibit 4.1 to
August, 1990 Form 8-K) and
Assignment and Assumption
Agreement dated December 2, 1991
with American Stock Transfer and
Trust Company, as successor Rights
Agent (incorp. by ref. to Exhibit
4(d) to fiscal 1991 Form 10-K).
Miscellaneous long-term debt
instruments and credit facility
agreements of the Company, under
which the underlying authorized
debt is equal to less than 10% of
the total assets of the Company
and its subsidiaries on a
consolidated basis, may not be
filed as exhibits to this report.
The Company agrees to furnish to
the Commission, upon request,
copies of any such unfiled
instruments.
-4-
<PAGE>
(10) Material contracts:
(a) Lease Agreement dated June 1, 1979
and First Supplemental Lease
Agreement dated as of July 31,
1994 between the Iredell County
Industrial Facilities and
Pollution Control Financing
Authority and the Company (incorp.
by ref. to Ex. 10(a) to fiscal
1994 Form 10-K).
(b) 1978 Stock Option Plan, as
amended, of the Company (incorp.
by ref. to Ex. 28(a) to Reg. Stat.
No. 33-25947 on Form S-8).**
(c) 1983 Stock Option and Stock Grant
Plan, as amended, of the Company
(incorp. by. ref. to Ex. 10(c) to
fiscal 1995 Form 10-K).**
(d) 1993 Stock Option and Stock Grant
Plan of the Company, as amended,
(incorp. by ref. to Ex. 10(d) to
fiscal 1995 Form 10-K).**
(e) 1988 Long-Term Incentive
Compensation Plan of the Company
(incorp. by ref. to Ex. 10(e) to
fiscal 1994 Form 10-K).**
(f) Form of Stock Grant Agreement
between the Company and Messrs.
Carney, Chandler, O'Meara, and
Precious (incorp. by ref. to
Exhibit 10(f) to fiscal 1995 Form
10-K).**
(g) 1994 Non-Employee Directors' Stock
Option Plan (incorp. by ref. to
Ex. 10(f) to fiscal 1993 Form
10-K).**
(h) Loan and Security Agreement dated
January 31, 1984, as amended,
between the Company and Ronald J.
Naples (incorp. by ref. to Ex.
10(g) to fiscal 1994 Form 10-K).**
(i) Loan and Security Agreement dated
April 20, 1988 between the Company
and Robert B. Fritsch (incorp. by
ref. to Ex. 10(h) to fiscal 1994
Form 10-K).**
-5-
<PAGE>
(j) (1) Form of Change in Control
Agreement between the Company and
various officers of the Company
(incorp. by ref. to Ex. 10(i) to
fiscal 1994 Form 10-K) and (2)
list of executive officers who are
parties (incorp. by ref. to
Exhibit 10(j) to fiscal 1995 Form
10-K).**
(k) Employment-Severance Agreement
between the Company and William E.
Chandler (incorp. by ref. to Ex.
10(j) to fiscal 1993 Form 10-K).**
(l) (1) Supplemental Executive
Benefits Plan of the Company,
effective April 16, 1992, and (2)
related Amended and Restated Trust
Agreement, effective February 17,
1993 (incorp. by ref. to Ex. 10(j)
to fiscal 1992 Form 10-K).**
(m) Employment-Severance arrangements
with Robert B. Fritsch (incorp. by
ref. to Exhibit 10(m) to fiscal
1995 Form 10-K).**
(n) Transition Agreement dated June
13, 1995 between the Company and
Ronald J. Naples (incorp. by ref.
to Form 10-Q for quarter ended
September 3, 1995).**
(o) Stock Purchase Agreement dated
December 19, 1995 between the
Company and Mary F. Bartol
(incorp. by ref. to Exhibit 9(c)
to the 1995 Schedule 13E-4).
(11) Statement re: computation of per share
earnings (incorp. by ref. to Ex. 11 to
fiscal 1995 Form 10-K).
(21) Subsidiaries (incorp. by ref. to Ex. 21 to
fiscal 1993 Form 10-K).
(23) (a) Consent of Coopers & Lybrand L.L.P. to
incorporation by reference, in Registration
Statement No.s 33-70660, 33-25947, 33-6359,
2-83144, 33-57105 and 33-57103 on Form S-8,
of their report on the consolidated
financial statements and schedules included
in this report (incorp. by ref. to Ex. 23
to fiscal 1995 Form 10-K).
-6-
<PAGE>
(b) Consent of Coopers & Lybrand, L.L.P. to
incorporation by reference, in Registration
Statement Nos. 33-6359 and 33-57103 on Form
S-8, of their report on the financial
statements related to the Savings Plan
included with this report as amended (filed
herewith).
(27) Financial Data Schedule (incorp. by ref. to
Ex. 27 to Fiscal 1995 Form 10-K).
- ----------------
* Reference also is made to (i) Articles 5th, 6th, 7th and 8th of
the Company's composite Articles of Incorporation (Ex. 3(a) to
this report), and (ii) to Sections 1, 7 and 8 of the Company's By-
laws (Ex. 3 (b) to this report).
** Indicates a management contract or compensatory plan or
arrangement.
(b) Reports on Form 8-K
The Company did not file any reports on Form 8-K during the
last quarter of the fiscal year covered by this report.
----------------------------
SIGNATURES
Pursuant to the requirements of Section 13 of the Securities
Exchange Act of 1934, the registrant has duly caused this amendment to be signed
on its behalf by the undersigned, thereunto duly authorized.
HUNT MANUFACTURING CO.
Dated: June 20, 1996 By:
---------------------------------
Donald L. Thompson
Chairman of the Board, President and
Chief Executive Officer
By:
---------------------------------
William E. Chandler
Senior Vice President, Finance
(Principal Financial and
Accounting Officer)
-7-
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Administrative Committee of
Hunt Manufacturing Co.:
We have audited the accompanying statements of net assets available for
benefits of Hunt Manufacturing Co. Savings Plan as of December 31, 1995 and
1994, and the related statements of changes in net assets available for
benefits for the years ended December 31, 1995, 1994 and 1993. These
financial statements are the responsibility of the Administrative Committee.
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 the
Plan as of December 31, 1995 and 1994 and the changes in net assets available
for benefits for the years ended December 31, 1995, 1994 and 1993, 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 supplemental schedules
(unbound) of Assets Held for Investment Purposes and Reportable Transactions
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
Fund Information in the statement of net assets available for benefits and the
statement of changes in net assets available for benefits is presented for
purposes of additional analysis rather than to present the net assets
available for plan benefits and changes in net assets available for plan
benefits of each fund. The supplemental schedules and Fund Information have
been subjected to the auditing procedures applied in the 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.
COOPERS & LYBRAND L.L.P.
2400 Eleven Penn Center
Philadelphia, Pennsylvania
May 13, 1996
PF-1
<PAGE>
HUNT MANUFACTURING CO.
SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
December 31, 1995
<TABLE>
<CAPTION>
Participant Directed
----------------------------------------------------------------------
Balanced Blended Select Ultra
ASSETS Fund GIC Trust Fund Fund
---- --------- ---- ----
<S> <C> <C> <C> <C>
Investments at fair value (Note 2):
Balanced Fund, 133,676 units at
$16.99/unit (cost $2,120,065) $2,271,160
Bankers Trust Pyramid GIC Fund
4,758,898 units at $1.00/
unit (cost $4,758,898) $4,758,898
Guaranteed Investment Contracts 19,713
Select Fund, 93,809 units at
$356.62/unit (cost $3,644,607) $3,341,467
Hunt Manufacturing Co., 186,913
shares at $17.375/share
(cost $2,878,173)
Ultra Fund, 194,575 units at
$26.11/unit (cost $4,001,097) $5,080,348
Value Fund, 37,893 units at
$5.90/unit (cost $226,784)
Participant loans (cost $0)
Cash
Receivables:
Employer's contribution 4,871 9,571 8,360 10,029
Participants' contribution 23,480 47,195 40,659 51,689
Interest - 21,110 - -
---------- ---------- ---------- ----------
Total assets $2,299,511 $4,856,487 $3,390,486 $5,142,066
LIABILITIES - - - -
---------- ---------- ---------- ----------
Net attest available for benefits $2,299,511 $4,856,487 $3,390,486 $5,142,066
========== ========= ========= ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Non-
Participant
Participant Directed Directed
------------------------------------------ --------
Stock Value Participant Stock
ASSETS Fund Fund Loans Fund Total
---- ----- ----------- -------- ----------
<S> <C> <C> <C> <C>
Investments at fair value (Note 2):
Balanced Fund, 133,676 units at
$16.99/unit (cost $2,120,065) $ 2,271,160
Bankers Trust Pyramid GIC Fund
4,758,898 units at $1.00/
unit (cost $4,758,898) 4,758,898
Guaranteed Investment Contracts 19,713
Select Fund, 93,809 units at
$356.62/unit (cost $3,644,607) 3,341,467
Hunt Manufacturing Co., 186,913
shares at $17.375/share
(cost $2,878,173) $1,166,539 $2,081,269 3,247,808
Ultra Fund, 194,575 units at
$26.11/unit (cost $4,001,097) 5,080,348
Value Fund, 37,893 units at
$5.90/unit (cost $226,784) $223,572 223,572
Participant loans (cost $0) $618,103 618,103
Cash 73 73
Receivables:
Employer's contribution 2,518 36,003
Participants' contribution 11,661 654 178,499
Interest 3,815 21,110
---------- ------- -------- -----------
Total assets 1,180,791 228,041 618,103 2,081,269 19,796,754
LIABILITIES - - - - -
---------- -------- -------- ---------- -----------
Net assets available for benefits $1,180,791 $228,041 $618,103 $2,081,269 $19,796,754
========== ======= ======== ========== ===========
</TABLE>
The accompanying notes are an integral part of the financial statements.
PF-2
<PAGE>
HUNT MANUFACTURING CO.
SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS,
WITH FUND INFORMATION
December 31, 1994
<TABLE>
<CAPTION>
Participant Directed
----------------------------------------------------------------------
Balanced Blended Select Ultra
ASSETS Fund GIC Trust Fund Fund
---- --------- ---- ----
<S> <C> <C> <C> <C>
Investments at fair value (Note 2):
Balanced Fund, 119,852 units at
$15.27/unit (cost $1,857,046) $1,830,133
Bankers Trust Pyramid GIC Fund
3,873,304 units at $1.00/
unit (cost $3,873,304) $3,873,304
Guaranteed Investment Contracts 101,022
Select Fund, 75,607 units at
$33.10/unit (cost $3,007,613) $2,502,585
Hunt Manufacturing Co., 199,123
shares at $13.50/share
(cost $3,097,122)
Ultra Fund, 165,147 units at
$19.95/unit (cost $3,109,808) $3,294,681
Participant loans (cost $0)
Cash
Receivables:
Employer's contribution 4,363 6,662 6,790 8,594
Participants' contribution 21,498 31,651 32,304 41,060
Interest 15,039
---------- ---------- ---------- ----------
Total assets $1,855,994 $4,027,678 $2,541,679 $3,344,335
LIABILITIES - - - -
Net assets available for benefits $1,855,994 4,027,678 2,541,679 $3,344,335
========== ========= ========= ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Non-
Participant
Participant Directed Directed
--------------------------- --------
Stock Participant Stock
ASSETS Fund Loans Fund Total
---- ----- ---- -----
<S> <C> <C> <C> <C>
Investments at fair value (Note 2):
Balanced Fund, 119,852 units at
$15.27/unit (cost $1,857,046) $ 1,830,133
Bankers Trust Pyramid GIC Fund
3,873,304 units at $1.00/
unit (cost $3,873,304) 3,873,304
Guaranteed Investment Contracts 101,022
Select Fund, 75,607 units at
$33.10/unit (cost $3,007,613) 2,502,585
Hunt Manufacturing Co., 199,123
shares at $13.50/share
(cost $3,097,122) $1,308,067 $1,380,098 2,688,165
Ultra Fund, 165,147 units at
$19.95/unit (cost $3,109,808) 3,294,681
Participant loans (cost $0) $13,057 13,057
Cash 29,936 29,936
Receivables:
Employer's contribution 2,978 29,387
Participants' contribution 17,582 144,095
Interest 15,039
---------- ------- ---------- -----------
Total assets 1,358,563 13,057 1,380,098 14,521,404
LIABILITIES - - -
Plan equity $1,358,563 $13,057 $1,380,098 $14,521,404
========= ====== ========= ==========
</TABLE>
The accompanying notes are an integral part of the financial statements.
PF-3
<PAGE>
HUNT MANUFACTURING CO.
SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS,
WITH FUND INFORMATION
for the year ended December 31, 1995
<TABLE>
<CAPTION>
Participant Directed
----------------------------------------------------------------------
Balanced Blended Select Ultra
ADDITIONS Fund GIC Trust Fund Fund
---- --------- ---- ----
<S> <C> <C> <C> <C>
Investment income:
Dividends $ 192,784 $ 410,693 $ 237,926
Interest $ 219,697
Contributions:
Participants' 294,985 564,737 499,037 628,296
Employer's 56,260 108,456 96,930 110,024
Net appreciation (depreciation)
in fair value of assets 196,236 173,997 1,056,051
--------- ---------- ---------- ----------
Total additions 740,265 892,890 1,180,657 2,032,297
--------- ---------- ---------- ----------
DEDUCTIONS
Benefits paid to participants (200,865) (314,596) (133,686) (192,718)
Management fees (2,340) (6,012) (2,722) (1,243)
Forfeitures (1,792) (1,169) (293) (1,060)
--------- ---------- ---------- ----------
Total deductions (204,997) (321,777) (136,701) (195,021)
--------- ---------- ---------- ----------
Interfund transfers (91,751) 257,696 (195,149) (39,545)
--------- ---------- ---------- ----------
Net increase (decrease) 443,517 828,809 848,807 1,797,731
Net assets available for benefits:
Beginning of year 1,855,994 4,027,678 2,541,679 3,344,335
--------- ---------- ---------- ----------
End of year $2,299,511 $4,856,487 $3,390,486 $5,142,066
========== ========== ========== ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Non-
Participant
Participant Directed Directed
------------------------------------------ --------
Stock Value Participant Stock
ASSETS Fund Fund Loans Fund Total
---- ----- ----------- -------- ----------
<S> <C> <C> <C> <C>
Investment income:
Dividends $ 36,130 $ 19,480 $ 45,045 $ 942,058
Interest $ 30,520 250,217
Contributions:
Participants' 204,376 14,818 2,206,249
Employer's 35,944 2,360 324,742 734,716
Net appreciation (depreciation)
in fair value of assets 339,024 (2,829) 465,047 2,227,526
--------- ---------- ---------- ---------- ----------
Total additions 615,474 33,829 30,520 834,834 6,360,766
--------- ---------- ---------- ---------- ----------
DEDUCTIONS
Benefits paid to participants (122,525) (9,955) (94,092) (1,068,437)
Management fees (239) (109) (12,665)
Forfeitures (4,314)
--------- ---------- ---------- ---------- ------------
Total deductions (122,764) (109) (9,955) (94,092) (1,085,416)
--------- ---------- ---------- ---------- ------------
Interfund transfers (670,482) 194,321 584,481 (39,571)
--------- ---------- ---------- ---------- -----------
Net increase (decrease) (177,772) 228,041 605,046 701,171 5,275,350
Net assets available for benefits:
Beginning of year 1,358,563 13,057 1,380,098 14,521,404
--------- ---------- ---------- ---------- -----------
End of year $1,180,791 $ 228,041 $ 618,103 $2,081,269 $19,796,754
========== ========== ========== ========== ===========
</TABLE>
The accompanying notes are an integral part of the financial statements.
PF-4
<PAGE>
HUNT MANUFACTURING CO.
SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
for the year ended December 31, 1994
<TABLE>
<CAPTION>
Participant Directed
--------------------------------------------------------------------------
Balanced Blended Select Ultra
ADDITIONS Fund GIC Trust Fund Fund
---- --------- ---- ----
<S> <C> <C> <C> <C>
Additions:
Investment income:
Dividends $ 81,007 $ 217,365 $ 102,719
Interest $ 298,043
Contributions:
Participants' 309,396 519,093 492,066 619,828
Employer's 59,081 103,808 97,485 115,132
---------- ---------- ---------- ----------
Total additions 449,484 920,944 806,916 837,679
---------- ---------- ---------- ----------
DEDUCTIONS
Deductions:
Benefits paid to participants (84,315) (286,395) (149,565) (152,833)
Net depreciation in fair value
of investments (79,401) (427,401) (210,578)
Forfeitures (4,456)
---------- ---------- ---------- ----------
Total deductions (163,716) (290,851) (576,966) (363,411)
---------- ---------- ---------- ----------
Interfund transfers (265,718) 183,269 (101,655) (893)
---------- ---------- ---------- ----------
Net increase 20,050 813,362 128,295 473,375
Net assets available for benefits:
Beginning of year 1,835,944 3,214,316 2,413,384 2,870,960
---------- ---------- ---------- ----------
End of year $1,855,994 $4,027,678 $2,541,679 $3,344,335
========== ========== ========== ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Non-
Participant
Participant Directed Directed
----------------------------- --------
Stock Participant Stock
ADDITIONS Fund Loans Fund Total
--------- ---- ----- ---- -----
<S> <C> <C> <C> <C>
Additions:
Investment income:
Dividends $ 29,828 $ 35,079 $ 465,998
Interest $ 748 298,791
Contributions:
Participants' 213,602 2,153,985
Employer's 37,003 309,064 721,573
---------- ------- ---------- -----------
Total additions 280,433 748 344,143 3,640,347
---------- ------- ---------- -----------
DEDUCTIONS
Deductions:
Benefits paid to participants (73,642) (51,751) (798,501)
Net depreciation in fair value
of investments (181,118) (240,210) (1,138,708)
Forfeitures (4,456)
---------- ------- ---------- -----------
Total deductions (254,760) (291,961) (1,941,665)
---------- ------- ---------- -----------
Interfund transfers 178,207 6,790
---------- ------- ---------- -----------
Net increase 203,880 7,538 52,182 1,698,682
Net assets available for benefits:
Beginning of year 1,154,683 5,519 1,327,916 12,822,722
---------- ------- ---------- -----------
End of year $1,358,563 $13,057 $1,380,098 $14,521,404
========== ======= ========== ===========
</TABLE>
The accompanying notes are an integral part of the financial statements.
PF-5
<PAGE>
HUNT MANUFACTURING CO.
SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS,
WITH FUND INFORMATION
for the year ended December 31, 1993
<TABLE>
<CAPTION>
Participant Directed
---------------------------------------------------------------------------------------
Balanced Blended Select Ultra Stock
Fund GIC Trust Fund Fund Fund
---- --------- ---- ---- ----
<S> <C> <C> <C> <C>
ADDITIONS
Additions:
Investment income:
Net appreciation in fair
value of investments $ 58,304 $ 4,345 $ 412,252 $ 142,225
Dividends 48,307 363,702 28,395
Interest $ 193,226
Contributions:
Participants' 316,174 530,729 426,693 505,300 206,041
Employer's 63,110 104,855 88,112 95,340 35,938
--------- --------- --------- --------- --------
Total additions 485,895 828,810 882,852 1,012,892 412,599
--------- --------- --------- --------- --------
DEDUCTIONS
Deductions:
Benefits paid to participants (72,387) (428,671) (153,685) (96,262) (9,656)
Forfeitures (3,174)
--------- --------- --------- --------- --------
Total deductions (72,387) (431,845) (153,685) (96,262) (9,656)
--------- --------- --------- --------- --------
Interfund transfers 1,411,784 2,739,656 1,672,939 1,929,267 (417,622)
--------- --------- --------- --------- --------
Net increase before asset
transfer from the
Seal Products, Inc.
Savings Plan for the
Naugatuck, Connecticut
Bargaining Unit 1,825,292 3,136,621 2,402,106 2,845,897 (14,679)
Transfer of net assets from Seal
Products, Inc. Savings Plan
for the Naugatuck, Connecticut
Bargaining Unit (see Note 8) 10,652 77,695 11,278 25,063 626
--------- --------- --------- --------- --------
Net increase (decrease) 1,835,944 3,214,316 2,413,384 2,870,960 (14,053)
Net assets available for benefits:
Beginning of year 1,168,736
--------- --------- --------- --------- --------
End of year $1,835,944 $3,214,316 $2,413,384 $2,870,960 $1,154,683
========== ========== ========== ========== ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Non-
Participant
Participant Directed Directed
--------------------------------------------------- --------
Income Equity Participant Stock
Fund Fund Loans Fund Total
---- ---- ----- ---- -----
<S> <C> <C>
ADDITIONS
Additions:
Investment income:
Net appreciation in fair
value of investments $ 176,171 $ 793,297
Dividends 28,805 469,209
Interest $ 525 193,751
Contributions:
Participants' 1,984,937
Employer's 300,603 687,958
---------- ---------- ----- ---------- ---------
Total additions 525 505,579 4,129,152
---------- ---------- ----- ---------- ---------
DEDUCTIONS
Deductions:
Benefits paid to participants (63,825) (824,486)
Forfeitures (3,174)
---------- ---------- ----- ---------- ---------
Total deductions (63,825) (827,660)
---------- ---------- ----- ---------- ---------
Interfund transfers (5,405,275) (1,935,743) 4,994
---------- ---------- ----- ---------- ---------
Net increase before asset
transfer from the
Seal Products, Inc.
Savings Plan for the
Naugatuck, Connecticut
Bargaining Unit (5,405,275) (1,935,743) 5,519 441,754 3,301,492
Transfer of net assets from Seal
Products, Inc. Savings Plan
for the Naugatuck, Connecticut
Bargaining Unit (see Note 8) 125,314
---------- ---------- ----- ----------
Net increase (decrease) (5,405,275) (1,935,743) 5,519 $ 441,754 3,426,806
---------- ---------- ----- ---------- ---------
Net assets available for benefits:
Beginning of year 5,405,275 1,935,743 886,162 9,395,916
---------- ---------- -----
End of year - - $5,519 $1,327,916 $12,822,722
========== ========== ===== ========== ===========
</TABLE>
The accompanying notes are an integral part of the financial statements.
PF-6
<PAGE>
HUNT MANUFACTURING CO.
SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
_______
1. Description of Plan:
The following provides a description of the Hunt Manufacturing Co.
Savings Plan (Plan).
General:
The Plan is a defined contribution plan which provides individual
accounts for each participant. The Plan is designed to comply
with the requirements of the Employee Retirement Income Security
Act of 1974, as amended (ERISA) and with the requirements of
Sections 401(a) and 401(k) of the Internal Revenue Code of 1986,
as amended (Code).
Eligibility and Participation:
Generally, all active associates (i. e. employees including
officers) of Hunt Manufacturing Co. (Company) and of any other
participating company are eligible to participate in the Plan upon
meeting the applicable service requirements. Leased employees,
non-resident aliens and associates who are covered by a collective
bargaining agreement to which the Company or any participating
company is a party (unless the collective bargaining agreement
specifically or otherwise provides) are not eligible to
participate in the Plan. Associates who work in full-time,
temporary positions as part of an undergraduate or graduate degree
program, college students enrolled in a degree program or high
school graduates matriculating in a degree program who assume
temporary employment with a participating company during the
summer months, and associates who are hired for a specific length
of time of no more than 18 consecutive months are eligible to
participate in the Plan, but only if such associates complete a
minimum of 1,000 hours of service during the plan year.
Bargaining unit employees of Seal Products Incorporated became
eligible to participate in the Plan effective January 1, 1993 as a
result of the merger into the Plan of the Seal Products
Incorporated Savings Plan for the Naugatuck, Connecticut
Bargaining Unit effective January 1, 1993 (see Note 8).
Eligible associates who have completed at least one year of
service, as of any January 1, April 1, July 1, or October 1 are
eligible to participate in the Associate Pre-Tax Contribution and
Matching Contribution portions of the Plan. Effective January 1,
1995, certain officers and directors became ineligible for
matching contributions. Eligible associates, other than certain
officers and directors who have completed at least two consecutive
years of service, as of any December 1, are eligible for
participation in the Basic Contribution portion of the Plan
provided such eligible associate is employed by a participating
company on December 1 of the plan year for which the Basic
Contribution is being made.
Continued
PF-7
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
_______
1. Description of Plan, continued:
Contributions:
Contributions to the Plan are made by the Company and other
participating companies on their own behalf, and in the case of
Associate Pre-Tax Contributions, on behalf of the participants whose
salaries have been reduced. Subject to the limitations of the Plan and
the Code, participants may authorize the Company and other
participating companies to withhold each year up to 15% (prior to
January 1, 1993 the limit was 10%) of their annual pre-tax compensation
(i. e., compensation excluding taxable employee benefits of any kind
but including Associate Pre-Tax Contributions and participant salary
reduction contributions to a cafeteria plan under Section 125 of the
Code) for Associate Pre-Tax Contributions to the Plan but not to exceed
a Code limit adjusted annually for inflation ($8,994 for 1993, $9,240
for 1994 and 1995). The Company and other participating companies, in
turn, will make Matching Contributions on behalf of participants equal
to $.25 for each $1.00 of Associate Pre-Tax Contributions up to 6% of
the participant's pre-tax compensation for each year subject to the
limitations of the Plan and the Code.
The Company also may make an annual Basic Contribution of up to 1% of
the base rate of pay (90% of the base rate of pay of salesmen, 100% of
the base rate for other associates) on behalf of eligible associates,
except for certain officers and directors, whether or not such
associates make contributions to the Plan. The associate's base rate
of pay is the associate's annual compensation determined as of June 1
of any plan year, excluding overtime, bonuses, cash awards and stock
awards under the Company's Long-Term Incentive Plan, and taxable
employee benefits of any kind but including Associate Pre-Tax
Contributions and participant salary reduction contributions to a
cafeteria plan under Section 125 of the Code. In no event may the
annual compensation of any participant taken into account under the
Plan exceed a Code limit adjusted annually for inflation ($235,840
for 1993 and $150,000 for 1994 and 1995). Such Basic Contributions can
only be invested in the Stock Fund and are not transferable to other
funds. In order to receive a Basic Contribution for a given plan year,
a participant must be employed by a participating company on December 1
of such plan year.
Associate Pre-Tax Contributions are contributed to the Plan within 30
days following the pay period or 30 days following the end of the plan
year for which such contributions are being made, whichever is earlier,
and Matching Contributions and Basic Contributions are contributed to
the Plan no later than the due date, including any extensions, for the
filing of the Company's federal tax return for the taxable year which
includes the last day of the plan year for which such contributions are
being made. Participants may also make rollover contributions to the
Plan of qualifying distributions from other qualified plans.
Continued
PF-8
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
_______
1. Description of Plan, continued:
Vesting:
A participant's Associate Pre-Tax Contributions (and the earnings
thereon) and Basic Contributions (and the earnings thereon) are
always 100% vested and nonforfeitable.
If, while in the service of the Company or any other participating
company, a participant attains age 65, becomes permanently and totally
disabled, or dies, the full value of the Matching Contributions (and
the earnings less any losses thereon) allocated to such participant's
accounts becomes vested in the participant (or in such participant's
successor in the event of death) and is nonforfeitable. Prior to the
occurrence of such an event, the value of the Matching Contributions
(and the earnings less any losses thereon) will vest in a participant,
based on such participant's years of service for vesting (years in
which a participant completes 1,000 or more hours of service commencing
with the date of hire), as indicated in the following table:
Less than 1 year 0%
1 year 20%
2 years 40%
3 years 60%
4 years 80%
5 years or more 100%
If a participant terminates employment for reasons other than death,
total disability or retirement, the person is not fully vested and the
present value of his or her vested account balance does not exceed
$3,500, or if it does exceed $3,500, his or her vested account balance
is distributed to such separated participant at his or her request, the
participant forfeits the nonvested balance in his or her account upon
distribution of his or her entire vested account balance. In such
case, if the participant is re-employed, he or she may repay the amount
distributed to him or her before he or she incurs five consecutive one-
year breaks in service, and his or her account will be restored. If
the terminated participant's vested account balance exceeds $3,500 and
such participant does not consent to the immediate distribution of his
or her vested account balance, the participant forfeits the nonvested
balance upon his or her incurring five consecutive one-year breaks in
service.
Withdrawals and Distributions:
Distributions are made according to the vested interest to which
participants are entitled upon retirement, termination, death or
disability. Upon retirement, the participant's vested interest will be
distributed in one lump sum payment, in cash, unless the participant
elects to receive that portion invested in the Stock Fund in whole
shares of common stock or in any combination of stock and cash. A
participant may also withdraw any portion of his or her vested account
balances after he or she attains age 59-1/2. Otherwise, withdrawals
before termination of employment are allowed only in cases of hardship
as determined in accordance with the terms of the Plan.
Continued
PF-9
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
_______
1. Description of Plan, continued:
Disposition of Forfeitures:
Forfeitures of Matching Contributions resulting from the
termination of participants with less than fully vested
rights under the Plan shall be applied to restore forfeitures
and then to reduce Matching Contributions to the Plan.
Plan Amendment and Termination:
Although it has not expressed any intent to do so, the
Company has the right under the Plan to discontinue its
contributions at any time and to terminate the Plan. In the
event of Plan termination, the net assets of the Plan will be
distributed to Plan participants and beneficiaries in
proportion to their respective account balances which will be
fully vested as a result of such termination. The Company
may also amend the Plan at any time, subject to certain
restrictions.
2. Summary of Significant Accounting Policies:
Basis of Accounting
The accompanying financials are prepared on the accrual basis
of accounting.
Investment Valuation:
The common stock of Hunt Manufacturing Co. is stated at fair
value, which represents the closing price of the stock as
listed on the New York Stock Exchange on the last trading day
of the plan year. Investments in the Twentieth Century
Investors, Inc., Balanced, Bankers Trust Pyramid GIC, Select,
Ultra and Value Funds are stated at the unit value published
as of the end of the plan year. The Blended GIC Trust
includes Guaranteed Investment Contracts which are stated at
cost plus accrued interest. Based on available information
at December 31, 1995, 1994 and 1993, the Company believes
that the fair value of the Guaranteed Investment Contracts is
not significantly different from cost plus accrued interest.
Investments in the Equity Fund are stated at the unit value
published by the fund as of the end of the plan year.
Investment Income:
Dividend income is recorded on the ex-dividend date. Income
from other investments is recorded as earned on the accrual
basis.
Continued
PF-10
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
_______
2. Summary of Significant Accounting Policies, continued:
Purchases and sales of securities are reflected on a trade-
date basis. Gain or loss on sales of securities is based on
average cost.
The Plan presents in the statements of changes in net assets
the net appreciation (depreciation) in the fair market value
of its investments which consists of the realized gains or
losses and the unrealized appreciation (depreciation) on
those investments.
Plan Expenses:
Administrative expenses of the Plan and brokerage fees
relating to purchases within the Stock Fund were paid by the
Company for the years ended December 31, 1994 and 1993.
Administrative expenses were paid by the Plan for the year
ended December 31, 1995. Brokerage fees relating to
purchases within the Stock Fund will be paid from the account
of the participant to which such purchases relate.
Payment of Benefits:
Benefits are recorded when paid.
Use of Estimates
The preparation of financial statements in conformity with
generally accepted accounting principles requires management
to make significant 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 revenue and
expenses during the reporting period. Actual results could
differ from those estimates.
Risks and Uncertainties
The Plan provides for various investment options in any
combination of stocks, bonds, fixed income securities, mutual
funds, and other investment securities. Investment
securities are exposed to various risks, such as interest
rate, market and credit. Due to the level of risk associated
with certain investment securities and the level of
uncertainty related to changes in the value of investment
securities, it is at least reasonably possible that changes
in risks in the near term would materially affect
participants' account balances and the amounts reported in
the statement of net assets available for plan benefits and
the statement of changes in net assets available for plan
benefits.
Continued
PF-11
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
_______
3. Investment Program:
Contributions to the Plan are invested, as directed by the
participants (except for Basic Contributions which are
invested in the Non-Participant Directed Stock Fund), in the
following funds as described below:
(1) Balanced Fund - a fund that uses common stocks and
fixed income securities to provide growth opportunities
as well as income. The Fund has approximately 60% of
its assets in growth stocks and the remainder in fixed
income securities. The fixed income portion of the
fund is invested in a diversified portfolio of
investment-grade bonds with an average weighted
portfolio maturity of three to ten years.
(2) Blended GIC Trust - is a fixed income fund made up of
two different parts. The first part consists of
individual Guaranteed Investment Contracts (GIC's)
previously purchased by the plan. The second part
consists of all new investments which are made in the
Bankers Trust Pyramid GIC Fund. The Bankers Trust
Pyramid GIC Fund invests primarily in guaranteed
investment contracts issued by major financial
institutions including banks and life insurance
companies.
The Blended GIC Trust is a conservative fixed income
fund in which principal is protected from market vola-
tility. By retaining the individual GIC's and invest-
ing in the Bankers Trust Pyramid GIC Fund, the Blended
GIC Trust attempts to provide yields that are higher
than money market funds and certificates of deposit, as
well as to provide a relatively predictable annual
return. The annual interest rates are as follows:
Net Effective
Time of Deposit Annual Interest Rate
--------------- --------------------
Funds deposited during 1995 Principally 6.02% to
8.05% through 1996
Funds deposited during 1994 Principally
7.31% to 9.10%
through 1995
Funds deposited during 1993 Principally 7.42%
to 9.1% through 1994
Continued
PF-12
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
_______
3. Investment Program, continued:
(3) Select Fund - a fund that invests only in stocks that pay
dividends. Securities are chosen primarily for their growth
potential, however, and return from investment income may
not be significant.
(4) Ultra Fund - a fund that seeks capital growth over time by
investing in companies with accelerating growth trends.
(5) Value Fund - a fund that seeks long-term capital growth by
investing in securities of well established companies that
are believed to be undervalued at the time of purchase.
(6) Stock Fund - a fund consisting of common stock of Hunt Manu-
facturing Co. purchased in the open market, or directly from
the Company.
There were 1,771 and 1,371 Plan participants at December 31, 1995
and 1994, respectively, who participated in one or more of the
investment funds. At December 31, 1995 and 1994, the number of
participants selecting each of the investment funds for their
contributions was as follows:
1995 1994
---- ----
Stock Fund 1,267 1,232
Capital Preservation Fund 666 603
Balanced Fund 431 374
Select Fund 672 594
Ultra Fund 559 549
Value Fund 26 -
4. Participant Loans:
Participants may borrow from their fund accounts a minimum of
$1,000 and up to a maximum equal to the lesser of $50,000 or 50
percent of their account balance. Loan transactions are treated
as a transfer to (from) the investment fund from (to) the
Participant Loans Fund.
The period of repayment may not exceed five years. Loans are
required to be repaid through payroll deductions in equal periodic
installments of principal and interest. Loans are required to be
collateralized by an assignment of a portion of the participant's
interest in his or her account equal to the principal amount of
the loan and supported by the participant's collateralized
promissory note. The interest rate on a loan is one percentage
point above the prime rate as published in The Wall Street Journal
Continued
PF-13
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
_______
4. Participant Loans, continued:
on the first business day of the month in which the loan is made.
Participant loans mature from April 18, 1996 to June 14, 2001 and
bore interest at 9.25% to 11% at December 31, 1995.
5. 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 for the
years ended December 31, 1995 and 1994:
<TABLE>
<CAPTION>
1995 1994
---- ----
<S> <C> <C>
Net assets available for benefits per the
financial statements $19,796,754 $14,521,404
Amounts allocated to withdrawing
participants (275,823) (20,035)
----------- ----------
Net assets available for benefits per the
Form 5500 $19,520,931 $14,501,369
==== =========== ===========
</TABLE>
The following is a reconciliation of benefits paid to
participants per the financial statements to the Form 5500 for
the year ended December 31, 1995:
<TABLE>
<CAPTION>
<S> <C>
Benefits paid to participants per the financial statements $1,068,437
Add: Amounts allocated to withdrawing participants at
December 31, 1995 275,823
Less: Amounts allocated to withdrawing participants at
December 31, 1994 (20,035)
----------
Benefits paid to participants per the Form 5500 $1,324,225
==========
</TABLE>
Amounts allocated to withdrawing participants are recorded on
the Form 5500 for benefit claims that have been processed and
approved for payment prior to December 31 but not yet paid as
of that date.
6. Tax Status:
The Internal Revenue Service has determined and informed the
Company by a letter dated October 27, 1995 that the Plan and
related trust are designed in accordance with applicable
sections of the Internal Revenue Code (IRC). The Plan has
not been amended since receiving the determination letter.
Continued
PF-14
<PAGE>
NOTES TO FINANCIAL STATEMENTS, Continued
_______
6. Tax Status, continued:
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. Therefore, no
provision for income taxes has been included in the Plan's
financial statements.
7. Guaranteed Investment Contracts:
The cost and fair value of Guaranteed Investment Contracts held by
the Plan at December 31, 1995 and 1994 are as follows:
<TABLE>
<CAPTION>
1995 1994
------------------------------ -------------------------------
Fair Fair
Cost Value Cost Value
---- ----- ---- -----
<S> <C> <C> <C> <C>
New England Mutual
Life Insurance Co.
Guaranteed Investment
Contracts $19,713 $19,713 $101,022 $101,022
------- ------- -------- --------
$19,713 $19,713 $101,022 $101,022
======= ======= ======== ========
</TABLE>
8. Transfers of Net Assets to Plan:
Effective January 1, 1993 certain employees of the Seal
Products Incorporated Savings Plan for the Naugatuck,
Connecticut Bargaining Unit became eligible to join the Plan.
Accordingly, net assets attributable to the account balances
of the eligible employees who participated in the Seal
Products Incorporated Savings Plan for the Naugatuck,
Connecticut Bargaining Unit prior to January 1, 1993 were
transferred to the Plan. The net amount transferred,
$125,314, represented the account balances of eligible
employees as of December 31, 1992.
9. Change of Investment Manager, Recordkeeper and Trustee:
Effective January 1, 1993, the Company engaged Twentieth
Century Services, Inc. as investment manager and recordkeeper
of the Plan. Accordingly, net assets attributable to the
account balances of eligible employees who participated in
the Hunt Savings Plan as of December 31, 1992 were
transferred to account balances held in trust by Twentieth
Continued
PF-15
<PAGE>
9. Change of Investment Manager, Recordkeeper and Trustee,
continued:
Century Services, Inc. For a description of the funds
offered by Twentieth Century Services, Inc. see Note 3. In
connection with the change to Twentieth Century Services,
Inc., United States Trust Company of New York became
successor Trustee to the Plan.
PF-16
<PAGE>
Item 27(a)
HUNT MANUFACTURING CO.
SAVINGS PLAN
Schedule of Assets Held for Investment Purposes
at December 31, 1995
Pursuant to Item 27(a) Annual Return/Report of Employee Plan Form 5500
<TABLE>
<CAPTION>
Description of Investment
------------------------- Fair
Identity of Issuer Shares Type Cost Value
------------------ ------ ------ ---- -----
<S> <C> <C> <C> <C>
Hunt Manufacturing Co. 186,913 Common Stock $ 2,878,173 $ 3,247,808
Twentieth Century Investors Funds:
Balanced Funds 133,676 Mutual Fund 2,120,065 2,271,160
Bankers Trust Pyramid GIC Fund 4,758,898 Mutual Fund 4,758,898 4,758,898
Select Fund 93,809 Mutual Fund 3,644,607 3,341,467
Ultra Fund 194,575 Mutual Fund 4,001,097 5,080,348
Value Fund 37,893 Mutual Fund 226,784 223,572
New England Mutual Life Insurance Co. -- Guaranteed Investment Contract 19,713 19,713
Participant Loans -- Participant loans with interest
rates from 8% to 11% -- 618,103
Cash -- 73 73
----------- -----------
Total investments $17,649,410 $19,561,142
=========== ===========
</TABLE>
<PAGE>
Item 27(d)
HUNT MANUFACTURING CO.
SAVINGS PLAN
Schedule of Reportable Transactions, Continued
for the year ended December 31, 1995
Reportable Under Section 2520.103-6, (c)(iii) of
Department of Labor Reporting Requirements
<TABLE>
<CAPTION>
Number of Transactions Dollar Value
---------------------- ------------------------ Net Gain
Description of Security Purchases Sales Purchases Sales (Loss)*
----------------------- --------- ----- --------- ----------- ----------
<S> <C> <C> <C> <C> <C>
Twentieth Century Investors - Ultra Fund 142 95 $3,905,627 $3,176,012 $ 706,979
Twentieth Century Investors - Select Fund 127 93 1,170,278 505,392 59,112
Twentieth Century Investors - Balanced Fund 123 80 1,466,589 1,221,797 110,126
Twentieth Century Investors - Bankers Trust Pyramid
GIC Fund 144 92 1,598,835 705,326 --
Twentieth Century Investors - Value Fund 41 21 2,148,712 1,922,312 354,424
Hunt Manufacturing Co. Common Stock 51 52 796,676 988,783 (132,721)
</TABLE>
*Using the Current Value Method
<PAGE>
Exhibit 23(b)
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by references in the Hunt Manufacturing
Co. 1995 Savings Plan Form S-8 Registration Statements (Registration Nos.
33-6359 and 33-57103) of our report dated May 13, 1996 on our audits of the
financial statements of the Hunt Manufacturing Co. Savings Plan as of December
31, 1995 and 1994 and for the years ended December 31, 1995, 1994, and 1993
which report is included in this Form 10-K/A which is Amendment No. 1 to Hunt
Manufacturing Co.'s 1995 Annual Report on Form 10-K.
COOPERS & LYBRAND L.L.P.
2400 Eleven Penn Center
Philadelphia, Pennsylvania
June 20, 1996
