<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
NACCO INDUSTRIES, INC.
- --------------------------------------------------------------------------------
(NAME OF ISSUER)
CLASS B COMMON, PAR VALUE $1.00 PER SHARE
- --------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
629579 20 02
- --------------------------------------------------------------------------------
(CUSIP NUMBER)
ALFRED M. RANKIN, JR.
5875 LANDERBROOK DRIVE
MAYFIELD HEIGHTS, OHIO 44124-4017
(216) 449-9600
- --------------------------------------------------------------------------------
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
DECEMBER 31, 1996
- --------------------------------------------------------------------------------
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
IF THE FILING PERSON HAS PREVIOUSLY FILED A STATEMENT ON SCHEDULE 13G TO REPORT
THE ACQUISITION WHICH IS THE SUBJECT OF THIS AMENDED AND RESTATED SCHEDULE 13D,
AND IS FILING THIS SCHEDULE BECAUSE OF RULE 13D-1(B)(3) OR (4), CHECK THE
FOLLOWING BOX [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
(Continued on following pages)
(Page 1 of 16 Pages)
- ------------
* 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 (the "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).
<PAGE> 2
- -------------------------------- ----------------------------------
CUSIP No. 629579 20 02 13D Page 2 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CTR Family Associates, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 3
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CUSIP No. 629579 20 02 13D Page 3 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Rankin Management, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
472,371
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
472,371
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
472,371
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
27.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 4
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CUSIP No. 629579 20 02 13D Page 4 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Clara L. T. Rankin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 7,000
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
479,371
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
479,371
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
28.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 5
- -------------------------------- ----------------------------------
CUSIP No. 629579 20 02 13D Page 5 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alfred M. Rankin, Jr.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
472,371
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
472,371
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
27.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 6
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CUSIP No. 629579 20 02 13D Page 6 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas T. Rankin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
71,516
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
71,516
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
472,371
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
543,887
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
32.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 7
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CUSIP No. 629579 20 02 13D Page 7 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Claiborne R. Rankin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
77,318
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
77,318
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
472,371
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
549,689
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
32.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 8
- -------------------------------- ----------------------------------
CUSIP No. 629579 20 02 13D Page 8 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Roger F. Rankin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
78,198
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
78,198
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
472,371
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
550,569
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
32.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 9
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CUSIP No. 629579 20 02 13D Page 9 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bruce T. Rankin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
472,371
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
472,371
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
27.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 10
- -------------------------------- ----------------------------------
CUSIP No. 629579 20 02 13D Page 10 of 16 Pages
----------------- ---- ----
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Victoire G. Rankin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 - See Item 3
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH REPORTING -------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
472,371
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
472,371
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
27.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 11
SCHEDULE 13D
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CUSIP NO. 629579 20 02 Page 11 of 16 Pages
- ------------------------- ----------------------------------
The Schedule 13D filed on November 25, 1996 (the "Schedule
13D") on behalf of the undersigned Reporting Persons, as amended by Amendment
No. 1 thereto, filed on November 26, 1996, is hereby further amended as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
-------------------------------------------------
The third paragraph of Item 3 of the Schedule 13D is hereby
deleted and replaced in its entirety by the following:
The Partnership acquired the NACCO Class B Common initially held by the
Partnership as capital contributions from the Partners in connection with the
formation of the Partnership and the execution and delivery of the Partnership
Agreement. The Partnership acquired 46,000 additional shares of NACCO Class B
Common as additional capital contributions from Clara L.T. Rankin on December
31, 1996. Ms. Rankin acquired the 46,000 shares of NACCO Class B Common so
contributed to the Partnership as follows:
(a) Pursuant to an Exchange Agreement, dated as of November
26, 1996 (the "November 1996 Exchange Agreement," a copy of which is
attached hereto as Exhibit 11), Ms. Rankin exchanged 30,000 shares of
NACCO Class A Common to acquire 30,000 shares of NACCO Class B Common
from a charitable lead trust created by Frank E. Taplin, Jr., pursuant
to a trust agreement dated December 15, 1976, for the benefit of the
grandchildren of Frank E. Taplin, Jr. (the "Frank E. Taplin, Jr.
Charitable Lead Trust"); and
(b) On December 31, 1996, Ms. Rankin acquired an aggregate of
16,000 shares of NACCO Class B Common by exchanging 1,600 shares of
NACCO Class A Common for 1,600 shares of NACCO Class B Common with each
of 10 trusts, all of which were created by Ms. Rankin pursuant to a
trust agreement dated December 28, 1976 for the benefit of Ms. Rankin's
grandchildren (the "Rankin Grandchildren Trusts").
ITEM 4. PURPOSE OF TRANSACTION
----------------------
(a) Item 4 of the Schedule 13D is amended by inserting the
following sentence at the end of the first paragraph thereof:
Clara L.T. Rankin's additional contribution of 46,000 shares of NACCO
Class B Common on December 31, 1996 was in furtherance of the above described
purposes and was contemplated at the time of the initial filing of this Schedule
13D.
(b) Item 4 of the Schedule 13D is further amended by deleting
the first word of the second paragraph thereof and inserting the following at
the beginning of the second paragraph thereof:
Other than as set forth in this Schedule 13D, as amended, the
<PAGE> 12
SCHEDULE 13D
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CUSIP NO. 629579 20 02 Page 12 of 16 Pages
- ------------------------- ----------------------------------
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
------------------------------------
Section (a)-(b) of Item 5 of the Schedule 13D is deleted and
replaced in its entirety by the following new Section (a)-(b):
(a)-(b) Pursuant to the Act and regulations thereunder the Reporting
Persons may be deemed as a group to have acquired beneficial ownership of
472,371 shares of the NACCO Class B Common, the aggregate number of shares of
NACCO Class B Common which are held by the Partnership, representing 27.9% of
the NACCO Class B Common outstanding as of January 3, 1997.
Each of the Reporting Persons has, as of January 3, 1997, sole or
shared power to vote or to direct the vote and sole or shared power to dispose
or to direct the disposition of NACCO Class B Common as follows:
CTR FAMILY ASSOCIATES, L.P. Although the Partnership holds the
472,371 shares of NACCO Class B Common contributed by the Partners, it does not
have any power to vote or to dispose of shares of NACCO Class B Common. Voting
control of the NACCO Class B Common is held by RMI and the power to dispose of
the NACCO Class B Common is shared by RMI and the Partners, all as more fully
described below.
RANKIN MANAGEMENT, INC. RMI has the sole power to vote 472,371
shares of NACCO Class B Common, and has shared power to dispose of the same
472,371 shares of NACCO Class B Common, which constitutes approximately 27.9% of
the outstanding Class B Common. RMI exercises such powers by action of its board
of directors, which acts by majority vote.
CLARA L. T. RANKIN. Ms. Rankin shares the power to dispose of
472,371 shares of NACCO Class B Common with RMI and the Reporting Individuals.
In addition, Ms. Rankin has a reversionary interest in 7,000 shares of NACCO
Class B Common held by the an irrevocable trust created by the Agreement dated
December 18, 1963, with National City Bank, a national banking association
("NCB"), as trustee, for the benefit of Elizabeth E. Brown. Ms. Rankin, as an
advisor to such trust, shares with NCB the power to vote and dispose of such
7,000 shares. Collectively, the shares of NACCO Class B Common in which Ms.
Rankin shares the power to vote and to dispose constitute approximately 28.3% of
the outstanding NACCO Class B Common. NCB is a national banking association with
its principal location at 1900 East 9th Street, Cleveland, Ohio 44113. During
the last five years, NCB has not been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) and has not been a party
to any civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which NCB was or is subject to a judgment, decree,
or final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
ALFRED M. RANKIN, JR. Mr. Rankin shares the power to dispose
of 472,371 shares of NACCO Class B Common with RMI and the Reporting
Individuals, which constitutes approximately 27.9% of the outstanding NACCO
Class B Common.
<PAGE> 13
SCHEDULE 13D
- ------------------------- ----------------------------------
CUSIP NO. 629579 20 02 Page 13 of 16 Pages
- ------------------------- ----------------------------------
THOMAS T. RANKIN. Mr. Rankin has the sole power to vote and to
dispose of 71,516 shares of NACCO Class B Common, including 3,187 shares of
NACCO Class B Common held as custodian for a minor son, and has shared power to
dispose of 472,371 shares of NACCO Class B Common, which together constitute
approximately 32.1% of the outstanding NACCO Class B Common.
CLAIBORNE R. RANKIN. Mr. Rankin has the sole power to vote and
to dispose of 77,318 shares of NACCO Class B Common, including 650 shares of
NACCO Class B Common held as custodian for a minor daughter, 2,408 shares of
NACCO Class B Common held as custodian for a daughter and 1,630 shares of NACCO
Class B Common held as custodian for a minor son, and has shared power to
dispose of 472,371 shares of NACCO Class B Common, which together constitute
approximately 32.4% of the outstanding NACCO Class B Common.
ROGER F. RANKIN. Mr. Rankin has the sole power to vote and to
dispose of 78,198 shares of NACCO Class B Common, and has shared power to
dispose of 472,371 shares of NACCO Class B Common, which together constitute
approximately 32.5% of the outstanding NACCO Class B Common.
BRUCE T. RANKIN. Mr. Rankin has shared power to dispose of
472,371 shares of NACCO Class B Common, which constitutes approximately 27.9% of
the outstanding NACCO Class B Common.
VICTOIRE G. RANKIN. Mrs. Rankin has shared power to dispose of
472,371 shares of NACCO Class B Common, which constitutes approximately 27.9% of
the outstanding NACCO Class B Common.
Section (c) of Item 5 of the Schedule 13D is amended by adding
the following at the end thereof:
There have been no transactions in the NACCO Class B Common by any of
the persons named in response to Item 2 hereof in the period between November
25, 1996 and the date of the filing of this Amendment No. 2, other than the
following:
(1) On November 26, 1996, Ms. Rankin acquired 30,000 shares of
NACCO Class B Common from the Frank E. Taplin, Jr. Charitable Lead Trust in
exchange for 30,000 shares of NACCO Class A Common pursuant to the November 1996
Exchange Agreement, a copy of which is attached hereto as Exhibit 11 and
incorporated herein by reference in its entirety. Ms. Rankin subsequently
transferred such shares of NACCO Class B Common to the Partnership as additional
capital contributions, as more fully described in Item 3 hereto, which is
incorporated herein by reference.
(2) On December 31, 1996, Ms. Rankin acquired an aggregate of
16,000 shares of NACCO Class B Common by exchanging 1,600 shares of NACCO Class
A Common for 1,600 shares of NACCO Class B Common with each of the 10 Rankin
Grandchildren Trusts. Ms. Rankin subsequently transferred such shares of NACCO
Class
<PAGE> 14
SCHEDULE 13D
- ------------------------- ----------------------------------
CUSIP NO. 629579 20 02 Page 14 of 16 Pages
- ------------------------- ----------------------------------
B Common to the Partnership as additional capital contributions, as more fully
described in Item 3 hereto, which is incorporated herein by reference.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
-------------------------------------------------------------
RESPECT TO SECURITIES OF THE ISSUER
-----------------------------------
(a) Section (b) of Item 6 of the Schedule 13D is hereby
amended by inserting the following new paragraph at the end of Section (b):
Effective as of December 30, 1996, the Partners amended the Partnership
Agreement to reflect that Clara L.T. Rankin had subscribed for additional
Partnership Interests, that Ms. Rankin had transferred some Partnership
Interests as gifts to existing Partners and to permit the managing partner to
amend, without the consent of other Partners, Schedules A and B to the
Partnership Agreement as may be necessary to reflect transfers of Partnership
Interests and the addition of new Partners. A copy of the First Amendment to the
Partnership Agreement is attached hereto as Exhibit 12 and incorporated herein
by reference in its entirety.
(b) The current Section (e) of Item 6 of the Schedule 13D is
hereby redesignated as Section (f) and the following paragraph is hereby
inserted as new Section (e):
The Frank E. Taplin, Jr. Charitable Lead Trust and Clara L.T. Rankin
entered into the November 1996 Exchange Agreement as of November 26, 1996, under
the terms of which Ms. Rankin exchanged 30,000 shares of NACCO Class A Common to
acquire 30,000 shares of NACCO Class B Common from the Frank E. Taplin, Jr.
Charitable Lead Trust. A copy of the November 1996 Exchange Agreement is
attached hereto as Exhibit 11 and incorporated herein by reference in its
entirety.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
--------------------------------
Item 7 of the Schedule 13D is hereby amended as follows:
(Exhibit 10) Agreement pursuant to Rule 13d-1(f)(1)(iii), at page 16 of
the manually signed and sequentially paginated copy of this
Statement.
(Exhibit 11) Exchange Agreement, dated as of November 26, 1996
(Exhibit 12) First Amendment to Limited Partnership Agreement of CTR Family
Associates, L.P., dated as of December 30, 1996
<PAGE> 15
SCHEDULE 13D
- ------------------------- ----------------------------------
CUSIP NO. 629579 20 02 Page 15 of 16 Pages
- ------------------------- ----------------------------------
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated: January 10, 1997
Name: CTR FAMILY ASSOCIATES, L.P.
By: RANKIN MANAGEMENT, INC.,
its Managing Partner
By: /s/ Alfred M. Rankin, Jr.
---------------------------------------------
Alfred M. Rankin, Jr., President
Name: RANKIN MANAGEMENT, INC.
By: /s/ Alfred M. Rankin, Jr.
---------------------------------------------
Alfred M. Rankin, Jr., President
/s/ Alfred M. Rankin, Jr.
------------------------------------------------
Name: ALFRED M. RANKIN, JR.
Name: RANKIN MANAGEMENT, INC.
By: /s/ Alfred M. Rankin, Jr.
---------------------------------------------
Alfred M. Rankin, Jr., President
Attorney-in-Fact for Clara L. T. Rankin*
Attorney-in-Fact for Victoire G. Rankin*
Attorney-in-Fact for Thomas T. Rankin*
Attorney-in-Fact for Claiborne R. Rankin*
Attorney-in-Fact for Roger F. Rankin*
Attorney-in-Fact for Bruce T. Rankin*
- ---------------------------------
* The powers of attorney authorizing the above-named person to act on
behalf of each of the foregoing Reporting Persons are included in
Exhibit 2 at page 16 of such Exhibit and in Exhibit 4 at pages 28
through 29 of such Exhibit.
<PAGE> 1
SCHEDULE 13D
- ------------------------- ----------------------------------
CUSIP NO. 629579 20 02 Page 16 of 16 Pages
- ------------------------- ----------------------------------
EXHIBIT 10
----------
Pursuant to Rule 13d-1(f)(1)(iii) of Regulation 13D-G of the
General Rules and Regulations under the Securities Exchange Act of 1934, the
undersigned agree that the statement to which this Exhibit is attached is filed
on behalf of each of the undersigned.
Dated: January 10, 1997
Name: CTR FAMILY ASSOCIATES, L.P.
By: RANKIN MANAGEMENT, INC.,
its Managing Partner
By: /s/ Alfred M. Rankin, Jr.
--------------------------------------------
Alfred M. Rankin, Jr., President
Name: RANKIN MANAGEMENT, INC.
By: /s/ Alfred M. Rankin, Jr.
--------------------------------------------
Alfred M. Rankin, Jr., President
/s/ Alfred M. Rankin, Jr.
-------------------------------------------------
Name: ALFRED M. RANKIN, JR.
Name: RANKIN MANAGEMENT, INC.
By: /s/ Alfred M. Rankin, Jr.
--------------------------------------------
Alfred M. Rankin, Jr., President
Attorney-in-Fact for Clara L. T. Rankin*
Attorney-in-Fact for Victoire G. Rankin*
Attorney-in-Fact for Thomas T. Rankin*
Attorney-in-Fact for Claiborne R. Rankin*
Attorney-in-Fact for Roger F. Rankin*
Attorney-in-Fact for Bruce T. Rankin*
- ---------------------------------
* The powers of attorney authorizing the above-named person to act on
behalf of each of the foregoing Reporting Persons are included in
Exhibit 2 at page 16 of such Exhibit and in Exhibit 4 at pages 28
through 29 of such Exhibit.
<PAGE> 1
Exhibit 11
EXCHANGE AGREEMENT
THIS EXCHANGE AGREEMENT ("Agreement"), dated as of November 26, 1996,
by and between National City Bank as Trustee for the Trust created under the
Agreement dated December 15, 1976 for the benefit of the grandchildren of Frank
E. Taplin (the "Taplin Trust"), and National City Bank, Trustee under the
Agreement, dated July 12, 1967, as supplemented, amended and restated, with
Clara T. Rankin, creating a trust for the benefit of such individual (the
"Rankin Trust").
W I T N E S S E T H:
WHEREAS, the Taplin Trust is the beneficial owner of 30,000 shares (the
"Class B Shares") of Class B Common Stock, par value $1.00 per share ("Class B
Common"), of NACCO Industries, Inc., a Delaware corporation ("NACCO"); and
WHEREAS, the Rankin Trust is the beneficial owner of 30,000 shares (the
"Class A Shares") of Class A Common Stock, par value $1.00 per share, of NACCO;
and
WHEREAS, the Class B Shares are subject to restrictions on transfer
pursuant to NACCO's Certificate of Incorporation and that certain Stockholders'
Agreement ("Stockholders' Agreement"), dated as of March 15, 1990, between
NACCO, Key Bank as depository ("Depository") and certain holders of Class B
Common; and
WHEREAS, the Taplin Trust wishes to exchange the Class B Shares for the
Class A Shares owned by the Rankin Trust; and
WHEREAS, the Rankin Trust wishes to exchange the Class A Shares for the
Class B Shares owned by the Taplin Trust;
NOW, THEREFORE, in consideration of the mutual promises hereinafter set
forth and other good and valuable consideration had and received, the parties
hereto, upon the terms set forth herein, hereby agree as follows:
1. EXCHANGE. Upon the terms set forth herein, the Taplin Trust
hereby conveys the Class B Shares to the Rankin Trust, and the Rankin
Trust hereby conveys the Class A Shares to the Taplin Trust, in each
case, free of any adverse claim, other than the restrictions on
transfer on the Class B Shares referenced in Section 3. The Taplin
Trust hereby delivers to the Rankin Trust certificates representing the
Class B Shares which are duly endorsed, or accompanied by stock powers
duly endorsed, by the Taplin Trust for transfer, or other evidence of
transfer, together with such documentation as the Rankin Trust or the
Depository may require to confirm that the transfer is permitted by
Section 2.1 of the Stockholders' Agreement. The Rankin Trust hereby
delivers to the Taplin Trust certificates representing the Class A
Shares which are duly endorsed, or accompanied by stock powers duly
endorsed, by the Rankin Trust for transfer, or other evidence of
transfer, together with such documentation as the Taplin Trust may
require.
2. CONSIDERATION. The value of the Class A Shares shall be
deemed to be equal to the value of the Class B Shares. Accordingly, the
exchange of the Class A Shares for the Class B Shares, together with
the representations of the parties hereunder, shall constitute full and
adequate consideration for the transactions contemplated hereby.
<PAGE> 2
3. REPRESENTATIONS BY THE TAPLIN TRUST. The Taplin Trust
represents to the Rankin Trust that (a) the Taplin Trust has good,
valid and marketable title to the Class B Shares, free and clear of all
adverse claims, except for the restrictions on transfer set forth in
NACCO's Certificate of Incorporation and in the Stockholders'
Agreement, and (b) the Taplin Trust has full power and authority to
executed and deliver this Agreement and to consummate the transactions
contemplated hereby. The foregoing representations shall survive
indefinitely. The Taplin Trust hereby indemnifies and agrees to hold
the Rankin Trust harmless from and against any and all liabilities
resulting from or arising out of any breach of the foregoing
representations.
4. REPRESENTATIONS BY THE RANKIN TRUST. The Rankin Trust
represents to the Taplin Trust that (a) the Rankin Trust has good,
valid and marketable title to the Class A Shares, free and clear of all
adverse claims, and (b) the Rankin Trust has full power and authority
to executed and deliver this Agreement and to consummate the
transactions contemplated hereby. The foregoing representations shall
survive indefinitely. The Rankin Trust hereby indemnifies and agrees to
hold the Taplin Trust harmless from and against any and all liabilities
resulting from or arising out of any breach of the foregoing
representations.
IN WITNESS WHEREOF, the Taplin Trust and the Rankin Trust have duly
executed this Agreement as of the date first above written.
"The Taplin Trust"
NATIONAL CITY BANK, TRUSTEE FOR THE
TRUST CREATED UNDER THE AGREEMENT
DATED DECEMBER 15, 1976 FOR THE BENEFIT OF
THE GRANDCHILDREN OF FRANK E. TAPLIN
By: /s/ Leigh H. Carter
------------------------------------------
Leigh H. Carter
Vice President Trust Administration
"The Rankin Trust"
NATIONAL CITY BANK, TRUSTEE UNDER THE
AGREEMENT, DATED JULY 12, 1967, AS
SUPPLEMENTED, AMENDED AND RESTATED
WITH CLARA T. RANKIN, CREATING A TRUST
FOR THE BENEFIT OF SUCH INDIVIDUAL
By: /s/ Leigh H. Carter
------------------------------------------
Leigh H. Carter
Vice President Trust Administration
<PAGE> 1
Exhibit 12
FIRST AMENDMENT TO
LIMITED PARTNERSHIP AGREEMENT
THIS FIRST AMENDMENT TO THE LIMITED PARTNERSHIP
AGREEMENT (this "Amendment") is made as of the 30th day of December, 1996, by
and among RANKIN MANAGEMENT, INC., a Georgia corporation, as General Partner,
and the Persons set forth on SCHEDULE A to the Limited Partnership Agreement of
CTR Family Associates, L.P. dated as of November 14, 1996 (the "Partnership
Agreement").
Recitals
--------
A. The Partners desire to amend Schedule A to the Partnership Agreement to
reflect that Clara L. T. Rankin ("Mrs. Rankin") has subscribed for
additional Interests, paying for such additional Interests with 46,000
shares of NACCO Class B Common Stock received by Mrs. Rankin in exchanges
for NACCO Class A Common Stock completed after the formation of the
Partnership but contemplated prior to such formation. These transactions
complete Mrs. Rankin's original plan to contribute all of her holdings of
NACCO Class B Common Stock to the Partnership for common management
purposes.
B. The Partners desire to further amend Schedule A to the Partnership
Agreement to reflect that Mrs. Rankin has transferred some Interests as
gifts to existing Limited Partners.
C. The Partners desire to amend the Partnership Agreement to permit the
Managing Partner, acting without further consent of the Partners, to amend
Schedule A and Schedule B to the Partnership Agreement as may be necessary
to reflect transfers of Interests and the addition of new Partners.
Agreement
---------
NOW THEREFORE, the parties hereto agree as follows:
1. Capitalized terms not otherwise defined herein shall have the meaning set
forth in the Partnership Agreement.
2. Schedule A to the Partnership Agreement be and hereby is replaced in its
entirety with the attached Schedule A.
3. Section 11.7 of the Partnership Agreement is amended by inserting at the
end thereof the following sentence:
Notwithstanding the immediately preceding sentence, the
Managing Partner may, without the consent of any other party,
amend Schedule A and Schedule B as necessary to reflect the
addition of any new Partners,
<PAGE> 2
any additional capital contributions by existing Partners, or
any gifts or other transfers of Interests permitted under the
terms of this Agreement.
4. This Amendment shall be governed by and construed in accordance with the
laws of the State of Georgia.
5. This Amendment may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one
and the same instrument.
IN WITNESS WHEREOF, the Partners have hereunto set their hands and seals as
of the day and year first above written.
GENERAL PARTNER:
RANKIN MANAGEMENT, INC.
By: /s/Alfred M. Rankin, Jr.
----------------------------------
President
Attest: /s/Roger F. Rankin
------------------------------
Secretary
(Corporate Seal)
NATIONAL CITY BANK,
as Trustee under the
Agreement dated
September 11, 1973,
as supplemented,
amended and
restated, with Roger
F. Rankin, creating
a trust for the
benefit of such
individual
Witness /s/ Nancy A. Thauvette By: /s/ Leigh H. Carter, V.P.
-------------------------- ---------------------------
Witness /s/ Nancy B. Sternad and /s/ Eve A. Weishar, A.V.P.
-------------------------- ---------------------------
Witness /s/ Nancy A. Thauvette
--------------------------
Witness /s/ Nancy B. Sternad Address: 1900 East Ninth Street
-------------------------- Cleveland, OH 44114
2
<PAGE> 3
NATIONAL CITY BANK, as
Trustee under the
Agreement dated December
29, 1967, as
supplemented, amended and
restated, with Thomas T.
Rankin, creating a trust
for the benefit of such
individual
Witness /s/ Nancy A. Thauvette By: /s/ Leigh H. Carter, V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------
Witness /s/ Nancy A. Thauvette and /s/ Eve A. Weishar, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------
THOMAS T. RANKIN, as Trustee
under the Agreement dated
December 29, 1967, as
supplemented, amended and
restated, with Thomas T.
Rankin, creating a trust for
the benefit of such individual
Witness /s/Thomas T. Rankin
-------------------------- -----------------------------------
Witness Address: 1900 East Ninth St.
-------------------------- Cleveland, OH 44114
3
<PAGE> 4
NATIONAL CITY BANK, as
Trustee under the
Agreement dated July 12,
1967, as supplemented,
amended and restated,
with Clara T. Rankin,
creating a trust for the
benefit of such
individual
Witness /s/ Nancy A. Thauvette By: /s/ Leigh H. Carter, V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------
Witness /s/ Nancy A. Thauvette and /s/ Eve A. Weishar, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------
ALFRED M. RANKIN, JR., as Trustee
under the Agreement dated
July 12, 1967, as
supplemented, amended and
restated, with Clara T.
Rankin, creating a trust for
the benefit of such individual
Witness /s/ Suzanne S. Taylor /s/Alfred M. Rankin, Jr.
---------------------------- ----------------------------
Witness /s/ Charles A. Bittenbender Address: 1900 East Ninth St.
---------------------------- Cleveland, OH 44114
4
<PAGE> 5
NATIONAL CITY BANK, as Trustee under
the Agreement dated July 1, 1969, as
supplemented, amended and restated,
with Victoire G. Rankin creating a
trust for the benefit of such
individual
Witness /s/ Nancy A. Thauvette By: /s/ Leigh H. Carter, V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------
Witness /s/ Nancy A. Thauvette and /s/ Eve A. Weishar, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------- Address: 1900 East Ninth St.
Cleveland, OH 44114
NATIONAL CITY BANK, as Trustee under
the Agreement dated August 30, 1967, as
supplemented, amended and restated, with
Alfred M. Rankin, Jr. creating a trust
for the benefit of such individual
Witness /s/ Nancy A. Thauvette By: /s/ Leigh H. Carter, V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------
Witness /s/ Nancy A. Thauvette and /s/ Eve A. Weishar, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
----------------------------- Address: 1900 East Ninth St.
Cleveland, OH 44114
5
<PAGE> 6
NATIONAL CITY BANK,
as Trustee under the
Agreement dated June
22, 1971, as
supplemented,
amended and
restated, with
Claiborne R. Rankin,
creating a trust for
the benefit of such
individual
Witness /s/ Nancy A. Thauvette By: /s/ Leigh H. Carter, V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------
Witness /s/ Nancy A. Thauvette and /s/ Eve A. Weishar, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
----------------------- Address: 1900 East Ninth St.
Cleveland, OH 44114
NATIONAL CITY BANK, as
Trustee under the
Agreement dated August
12, 1974, as
supplemented, amended and
restated, with Bruce T.
Rankin creating a trust
for the benefit of such
individual
Witness /s/ Nancy A. Thauvette By: /s/ Leigh H. Carter, V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
--------------------------
Witness /s/ Nancy A. Thauvette and /s/ Eve A. Weishar, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Nancy B. Sternad
------------------------ Address: 1900 East Ninth St.
Cleveland, OH 44114
6
<PAGE> 7
(AS AMENDED 12/31/96)
SCHEDULE A
PARTNERS / CAPITAL CONTRIBUTIONS
<TABLE>
<CAPTION>
=================================================================================================================================
NAME PROPERTY CONTRIBUTED INTEREST
---- -------------------- --------
=================================================================================================================================
GENERAL PARTNER(S)
=================================================================================================================================
<S> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------------------------
Rankin Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------------------
(a) Rankin Management Lot 1 2000 0.4234%
- ---------------------------------------------------------------------------------------------------------------------------------
(b) Rankin Management Lot 2 2000 0.4234%
- ---------------------------------------------------------------------------------------------------------------------------------
(c) Rankin Management Lot 3 2000 0.4234%
- ---------------------------------------------------------------------------------------------------------------------------------
(d) Rankin Management Lot 4 2000 0.4234%
- ---------------------------------------------------------------------------------------------------------------------------------
Total for Ranking Management, Inc.: 8,000 Shares 1.6936%
<CAPTION>
=================================================================================================================================
LIMITED PARTNERS
=================================================================================================================================
<S> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------------------------
Clara L.T. Rankin
- ---------------------------------------------------------------------------------------------------------------------------------
(a) C.L.T. Rankin Lot 1 135,247 28.6315%
- ---------------------------------------------------------------------------------------------------------------------------------
(b) C.L.T. Rankin Lot 2 30,000 6.3509%
- ---------------------------------------------------------------------------------------------------------------------------------
(c) C.L.T. Rankin Lot 3 16,000 3.3872%
- ---------------------------------------------------------------------------------------------------------------------------------
Total for Clara L.T. Rankin 181,247 Shares 38.3696%
- ---------------------------------------------------------------------------------------------------------------------------------
Alfred M. Rankin, Jr.
- ---------------------------------------------------------------------------------------------------------------------------------
(a) A.M. Rankin Lot 1 800 .1694%
- ---------------------------------------------------------------------------------------------------------------------------------
(b) A.M. Rankin Lot 2 17,570 3.7195%
- ---------------------------------------------------------------------------------------------------------------------------------
(c) A.M. Rankin Lot 3 59,428 12.5808%
- ---------------------------------------------------------------------------------------------------------------------------------
(d) A.M. Rankin Lot 4 25,000 5.2925%
- ---------------------------------------------------------------------------------------------------------------------------------
Total for Alfred M. Rankin Jr.: 102,798 Shares 21.7621%
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 2
<PAGE> 8
SCHEDULE A (CONTINUED)
<TABLE>
<CAPTION>
=================================================================================================================================
NAME PROPERTY CONTRIBUTED INTEREST
---- -------------------- --------
=================================================================================================================================
<S> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------------------------
Bruce T. Rankin
- ---------------------------------------------------------------------------------------------------------------------------------
(a) B.T. Rankin Lot 1 800 0.1694%
- ---------------------------------------------------------------------------------------------------------------------------------
(b) B.T. Rankin Lot 2 14,400 3.0485%
- ---------------------------------------------------------------------------------------------------------------------------------
(c) B.T. Rankin Lot 3 72,998 15.4535%
- ---------------------------------------------------------------------------------------------------------------------------------
(d) B.T. Rankin Lot 4 25,000 5.2925%
- ---------------------------------------------------------------------------------------------------------------------------------
Total for Bruce T. Rankin: 113,198 Shares 23.9638%
- ---------------------------------------------------------------------------------------------------------------------------------
Claiborne R. Rankin
- ---------------------------------------------------------------------------------------------------------------------------------
(a) CR Rankin Lot 1 8,000 1.6936%
- ---------------------------------------------------------------------------------------------------------------------------------
(b) CR Rankin Lot 2 15,000 3.1755%
- ---------------------------------------------------------------------------------------------------------------------------------
Total for Claiborne R. Rankin: 23,000 Shares 4.8691%
- ---------------------------------------------------------------------------------------------------------------------------------
Roger F. Rankin
- ---------------------------------------------------------------------------------------------------------------------------------
(a) RF Rankin Lot 1 8,000 1.6936%
- ---------------------------------------------------------------------------------------------------------------------------------
(b) RF Rankin Lot 2 25,000 5.2925%
- ---------------------------------------------------------------------------------------------------------------------------------
Total for Roger F. Rankin: 33,000 Shares 6.9860%
- ---------------------------------------------------------------------------------------------------------------------------------
Thomas T. Rankin 8,000 Shares 1.6936%
- ---------------------------------------------------------------------------------------------------------------------------------
Victoire G. Rankin 3,128 Shares 0.6622%
- ---------------------------------------------------------------------------------------------------------------------------------
TOTALS 472,371 Shares 100%
=================================================================================================================================
</TABLE>
Page 2 of 2
