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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM 11-K
[Mark One]
[X] ANNUAL REPORT Pursuant to Section 15(d) 1934 [Fee Required] For the fiscal
year ended December 31, 1994.
OR
[_] TRANSITION REPORT Pursuant to Section 15(d) of the Securities Exchange Act
of 1934 [No Fee Required] For the Transition Period from _____________ to
_____________ Commission File Number 0-5965.
A. Full Title of Plan:
THE NORTHERN TRUST COMPANY THRIFT-INCENTIVE PLAN
B. Name of Issuer of securities held pursuant to the plan and the address of
its principal executive office:
NORTHERN TRUST CORPORATION
50 South LaSalle Street
Chicago, Illinois 60675
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FINANCIAL STATEMENTS AND EXHIBITS
The following financial statements and schedules are filed as part of this
annual report:
1994 FORM 5500 FOR TIP AND SUCH FINANCIAL STATEMENTS AND SCHEDULES AS FORM A
PART THEREOF.
Those financial statements and schedules are incorporated by reference in the
Form S-8 Registration Statement under the Securities Act of 1933, The Northern
Trust Company Thrift-Incentive Plan, Registration No. 33-51971.
All other documents relating to TIP have previously been filed with the
Securities and Exchange Commission in Washington, D.C. with Form S-8
Registration Statement, The Northern Trust Company Thrift-Incentive Plan,
Registration No. 33-51971.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Employee Benefit Administrative Committee which is the plan administrator for
TIP has caused this annual report to be signed by the undersigned thereunder
duly authorized.
THE NORTHERN TRUST COMPANY
THRIFT-INCENTIVE PLAN
/s/ William N. Setterstrom
Date: June 28, 1995 By WILLIAM N. SETTERSTROM
Chairman, Employee Benefit
Administrative Committee
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CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation or our
report dated April 21, 1995 into this Form 11-K and to incorporation by
reference of such report in Form S-8, No. 33-51971, previously filed by Northern
Trust Corporation.
/s/ Hill, Taylor & Co.
HILL, TAYLOR & CO.
Chicago, Illinois
June 15, 1995
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REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To The Northern Trust Company Employee Benefit Administrative Committee:
We have audited the financial statements of THE NORTHERN TRUST COMPANY
THRIFT-INCENTIVE PLAN in order to form an opinion on the financial statements
and schedules included in the Form 5500 for The Northern Trust Company
Thrift-Incentive Plan for the 1994 Plan year. These financial statements and
schedules are the responsibility of the Plan's management. Our responsibility is
to express an opinion on these financial statements and schedules based on our
audit.
We conducted our audit 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 and schedules are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements and
schedules. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement and schedule presentation. We believe that out audit
provides a reasonable basis for our opinion.
In our opinion, the financial statements and schedules included in the Form 5500
for The Northern Trust Company Thrift-Incentive Plan for the 1994 Plan year are
presented fairly in conformity with generally accepted accounting principles.
/s/ Hill, Taylor & Co.
HILL, TAYLOR & CO.
Chicago, Illinois
April 21, 1995
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