Registration No.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 11-K
(Mark One)
[X] Annual Report pursuant to Section 15(3) of the Securities Exchange Act
of 1934 For the fiscal year ended December 31, 1997
OR
[__] Transition report pursuant to Section 15(d) of the Securities Exchange
Act of 1934 For the transition period from _________ to ____________
A. Full title of the plan and the address of the plan, if different
from that of the issuer named below:
Mestek, Inc.
Retirement Savings Plan
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executed office:
Mestek, Inc.
260 North Elm Street
Westfield, Massachusetts 01085
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Audited Financial Statements
and Supplemental Schedules
Mestek, Inc.
Retirement Savings Plan
Year ended December 31, 1997
with Report of Independent Auditors
Beginning End
of Year Of Year
Assets
Total noninterest-bearing cash:
Receivables:
Employer contributions 39,145 21,163
Participant contributions 86,194 48,719
Income
Other-Rollover
Less allowance for doubtful accounts
Total 125,339 69,882
General Investments:
Interest-bearing cash
Certificates of deposit
US Government securities
Corporate Debt instruments:
Preferred
All other
Corporate Stocks:
Preferred
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Common
Partnership/joint venture interests
Real Estate:
income-producing
nonincome
Loans:
Residential
Commercial
Loans to Participants:
Mortgages
Other 215,274 274,105
Other Loans
Value of interest in trusts
Value of interest in pooled
separate accounts 854,599 1,569,781
Value of interest in master trusts
Value of interest in 103-12 investments
Value of interest in registered
investment companies
Value of funds in ins. Co. gen. Acct. 2,849,641 3,365,040
Other
Total 3,919,514 5,208,926
Employer-related investments:
Employer securities
Employer real prop.
Buildings
Total Assets: 4,044,853 5,278,808
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Liabilities
Benefit claims payable
Operating payables
Acquisition indebtedness
Other liabilities
Total Liabilities 0 0
Net Assets 4,044,853 5,278,808
Income Amount Total
Contributions:
Received from:
Employers 270,861
Participants 627,574
Rollovers 3,437
Noncash contributions
Total contributions 901,872
Earnings on Investments:
Interest:
Interest-bearing cash
Cert. Of deposit
US Govt. securities
Corp. debt
Mortgage loans
Employee loans 19,228
Other interest 204,435
Total interest: 223,663
Dividends:
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Preferred stock
Common stock
Total dividends
Rents:
Net gain(loss) on sale of assets
Aggregate proceeds
Aggregate carry amt.
Subtract carry from proceeds
Unrealized appreciation (depr.) of assets
Net investment gain(loss)
from collective trusts
Net investment gain(loss)
from pooled accts 282,923
Net investment gain(loss)
from master trusts
Net investment gain(loss)
from 103-12 investment
Net investment gain(loss)
from registered inv. co.
Other income
Total income 1,408,458
Expenses
Benefit payments:
Directly to participants 170,893
To insurance carriers
Other
Total payments 170,893
Interest expense:
Admin exp.:
Salaries and allowances
Accounting fees
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Actuarial fees
Contract admin. Fees
Invst. Advisory & mgmt.
Legal
Valuation/appraisal
Trustee fees/expenses
Other 3,610
Total admin. Expenses 3,610
Total Expenses 174,503
Net income (loss) 1,233,955
Transfers to (from) the plan
Net assets at beginning of year 4,044,853
Net assets at end of year 5,278,808
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SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the employee benefit
plan) have duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
MESTEK, INC.
RETIREMENT SAVINGS PLAN
Date: June 30, 1999 /s/
Name: Jack E. Nelson
Title: Vice President-Human Resources
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Consent of Grant Thornton LLP, Independent Auditors
We consent to the inclusion of our report with respect to the financial
statements and schedules of the Mestek, Inc. Retirement Savings Plan included in
this Annual Report (Form 11-K) for the year ended December 31, 1997.
Boston, Massachusetts
June 30, 1999
